Making China Pay

It’s amazing that a year ago, the Trump administration, and Republicans in Congress came out and said that the Coronavirus was started in the Wuhan Institute of Virology in Wuhan, China. Everyone that came out and said that was where they thought the virus that caused a world-wide pandemic were all but castrated for their views. They were told they weren’t following the science. They were told they were conspiracy theorists. They were told they were crazy. They were vilified in such places as MSNBC and Morning Joe, CNN had a field day with the story, as did the New York Times, and the Washington Post.

And it turns out these so-called media experts were dead wrong. And now they can’t back-pedal fast enough. In fact, it’s so bad that several media outlets that actually said Trump was right in his summation of the entire COVID situation by calling it “a China virus”, have begun re-writing their headlines and stories that were posted on the internet. Now, they are starting to join the Trump bandwagon, much to their own chagrin.

While science was wrong, while the media was wrong, and while Tom Cotton, Donald Trump, Mike Pompeo, and a slew of others hit the nail on the head, there is still a problem out there. China caused this virus. China is responsible for this virus. China isn’t going to allow inspectors in to Wuhan to go through the Institute to make sure it happened there. And they’re denying this has cost the United States trillions of dollars. In fact, the Journal of American Medical Association (JAMA) has come out with a study that says that figure is about $16 trillion dollars.

So how do we make China pay?

China currently holds $1.6 trillion in US bonds. While that’s only 10% of the total cost for COVID in this country, it’s a start. They also own some 191,000 acres of land totaling $1.9 billion. That’s a sizable chunk of land. So, how do we make China pay? Simple. We start by nationalizing their land (as Mexico has done in the past and other countries have done). That 191,000 acres becomes federal land that can be sold back to the American people for pennies on the dollar. Most of the land China owns is actually farm land. As for the bonds that the Chinese hold, that becomes a down payment on their repayment of the debt from Wuhan that they caused. And if they don’t want to go along with us, they can allow the investigators in to do their research.

Now, I know the feeling out there is that America should never default on our debt. No, we shouldn’t. But this isn’t defaulting on our debt. This is making a guilty party who won’t allow an investigation to go forward to pay for what’s going on.

The other thing America needs to do, and the Trump administration was doing until they lost the election, was to basically ban China from doing business in the United States. Especially in the pharmaceutical industry. And though the amount of trade deficit with the Chinese has been shrinking over the past few years (from a high of around a half trillion dollars a year to about $300 billion a year), we could certainly damage their economy by pulling the plug on “Made in China”. Last year alone, China sent about $2.5 trillion around the world in exports, and leading the way was the United States with about 17% of that total. If you take 17% of their GNP away from them, you will most certainly hurt them financially.

The question isn’t whether we SHOULD do it. They question is whether the current administration has the guts to do it. And yes, it would be painful to the American people. Most of what we get in the way of electronics, and other household goods comes from China. The prices most certainly would go up. But they would be hurt as bad as us. Japan, South Korea, India, and Vietnam make up the rest of the top five trading partners. If you add up all of our allies’ figures as well, it would be hurtful to say the least.

Economically, could the US hurt China? Yup…but it’s not a question of could we. It’s a question of would we. And with the Biden administration in bed with China as they appear to be, my hunch is, it’s a pipe dream to hope we could ever hold them fiscally responsible.

Carry on world…you’re dismissed!

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