4 Comments
May 29·edited May 29Liked by Karl Sanchez

a fascinating article karl.. thank you... a scary thought for the usa - that china, japan and south korea would start exchanging in their local currencies and avoid the us$....

the fact is, it is hard to make and maintain walls that are meant to separate people who live in the same region... it is the same deal trying to create a wall thru nato with russia and europe... of course all this serves the usa/uks banking and other purposes, but it is fated to not last as i see it... it will take some time.. world leadership, especially in the west and some of these asian countries, are looking for leadership in all the wrong places - the usa is not a place to look for this!! and this is especially true at this time!!

divide and conquer only goes so far until people see how they are being used and develop a resentment and resistance towards this same game plan when they become more fully aware of it..

Expand full comment
author

Agreed, but more's happening.

Expand full comment
May 31Liked by Karl Sanchez

China's pragmatic approach to countries with which it has important economic ties is logical and commendable; however, the historic strategic choices bearing down on the ROK and Japan are extraordinarily difficult and complex.

When Korea's students overthrew Syngman Rhee in 1960, followed by a brief democratic interlude swiftly snuffed out by Pak Chung Hee's coup and subsequent military rule, the ROK's GDP per capita was c.$100! Now, it's close to $60,000 (PPP). This incredible transformation was achieved (sometimes in spite of US interference as was the case when Pak began his rule) under the umbrella of the ROK's alliance with the US. US troops have been in South Korea since the Korean War (1950-3) and there's no sign of them leaving; after coming to the DPRK's aid in 1950, China's forces left North Korea in 1958.

Opinion polls in the ROK (of which there are many) consistently show that a clear majority of South Koreans support the ROK-US Alliance. There are currently c. 28,000 US troops permanently stationed in South Korea and this number is increased considerably for the joint annual military exercises to rehearse war with North Korea.

Korea is a small country and has been presented with difficult choices in the past when the geostrategic situation in Northeast Asia has changed - this time, in the context of national division, its choice is more difficult than ever.

Expand full comment
author

Yes, South Korea was well subsidized by the USA's MIC and by Japan's investors. The broad economic trend for the Outlaw US Empire is continued atrophy of its GDP via rent seeking Neoliberalism that sees no profit in infrastructure upkeep or industrial development. The currently hidden crisis in commercial real estate is one of those sectors the parasites will walk away from as associated bank failures offer opportunities for consolidation.

Expand full comment