The US and China: One Side is Losing, the Other is Winning


by James Petras
Global Research
January 3, 2010



Introduction:

Asian capitalism, notably China and South Korea are competing with the US for global power. Asian global power is driven by dynamic economic growth, while the US pursues a strategy of military-driven empire building.

One Day’s Read of the Financial Times

Even a cursory read of a single issue of the Financial Times (December 28, 2009) illustrates the divergent strategies toward empire building. On page one, the lead article on the US is on its expanding military conflicts and its ‘war on terror’, entitled “Obama Demands Review of Terror Listâ€