(C) 2000 by Chalmers Johnson
excerpt from page 174
"The economic challenge of China is likely to be the most difficult test not just for American economic policy but for its foreign policy in general in the first quarter of the twenty-first century. Unfortunately Americans still remain confused by the idea that the foundations of power no longer lie in military but in economic and industrial strength. They tolerate, even applaud, irrationally bloated defense budgets while doing little to rebuild and defend the industrial foundations of their own nation. When the world economic crisis began in Asia in 1997, the United States responded with the stale formulas of the International Monetary Fund, only worsening the situation. Inadequate political leadership, inappropriate staffing of the government, and an inability to redirect the foreign affairs, defense, technological, and intelligence agencies to pay more reasonable attention to Asia in general and China in particular seem endemic problems for the foreseeable future."
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