Tuo Zhen, the spokesman for the CPC, told a press conference yesterday that the Belt and Road Initiative has now been incorporated into several UN documents, that “between 2013 and 2016, Chinese companies have invested about $560 billion overseas, paid over $100 billion in various kinds of taxes to the host countries, and created millions of jobs for the local communities.” He said the investments have helped the receiving countries to “transform their resources and labor power for development,” and that “China has developed partnerships of various forms with about 100 countries, regions and regional organizations. China’s circle of friends is widening day by day.”
President Trump considers himself among that widening circle of friends, but it is urgent that he take the opportunity of his visit to China in two weeks to fully integrate the U.S. economy into the Belt and Road, both for U.S. industry to participate and benefit from the massive development projects across the globe, and also for China’s huge holdings of U.S. debt to be allowed to participate as credit for the rebuilding of the American industrial and scientific greatness of yore. LaRouche’s concept of a national Hamiltonian bank for development, one of his Four Laws, has been enthusiastically received by leading Chinese and Japanese economists in discussion with EIR, as a means of putting their vast reserves of U.S. debt into useful, productive investments, and making the U.S. again a partner in global development as it was in the era of FDR and JFK.
CPC National Congress Opens Wednesday, Then Trump Goes to China — The New Paradigm Is Possible, and Urgently Necessary
A Note To Readers
As noted in the excerpt from the article above, President Trump is heading to Asia in about two weeks. We can hope he will act on the policies his repeated statements over the past year have both excited optimism on the one hand, and hysterical fear from Wall Street and London on the other. Just a couple of days ago did it again, saying that the U.S. government has no business paying off insurance companies with billions of dollars, as his contribution to the otherwise chaotic debate about the health care system.
In This Week’s Report
Last week’s report was largely focused on the wildfires of northern California, which as of now, are being brought under control. So this week I’ll focus on the topic of why these fires in the West are so destructive. While a minor flood of articles on the fires have been whining about global warming as the “cause,” serious scientists, forestry officials and fire officials have been warning for years that the forests of the West have been mismanaged for decades. The virtual shutting down of logging over the past three to four decades has created forests that are chock full of trees– and it is those crowded together trees that are the fuel for the fires.
Immediately below is the weather forecast for the winter, and, simply put, no is claiming to know what that weather will be.
The same can be said about the fate of the Governor’s tunnels under the Delta, with more votes by water districts this week, that have sent a clear message: Maybe or maybe not.
The Oroville Dam update includes a construction report from the Department of Water Resources and update videos.
I almost forgot, near the end of the section on the fires and the forests is the delightful item on how the wildfires have destroyed a bunch of marijuana farms. Too bad more could not have burned.
Concluding this week’s report are a few items on real economics under my title of The American Credit System.