The bad news is we’re probably going to lose World War III — the Taiwan War, the Pacific War, whatevs — to China. The good news, if you want to see it that way, is that China might drive us all the way back to Hawaii without having to fire a shot.
Let me back up a moment.
This column was originally headlined, “China’s Economy Is Worse Than You Think,” because this was supposed to be about the Communist country’s self-inflicted economic woes. But as I was doing my research and making some edits, I had to change the headline to “China Is Worse Off (and More Dangerous) Than You Think.” It was only on the third pass, and after deleting and rewriting huge reams of text, that I finally settled on the headline you see now.
Before we get to the World War III stuff, I’ll give you the TL;DR on mainland China’s economy: it’s hurting. Beijing keeps trying to avoid difficult economic decisions by indulging in “stimulus” building booms. The result is that a lopsided 30% of the country’s economy is built on real estate, much of which is unprofitable and some of which was so recklessly built that whole blocks of unsafe skyscrapers are getting knocked down instead of inhabited.
Making matters worse, China’s decades of rapid growth may finally have come to an end, with expected 2-3% growth instead of the accustomed 8-12%. How is China dealing with the slowdown, particularly in the troubled housing sector?
The idea of a Chinese military victory is ridiculous. Not only do they have one of the least diverse militaries in the world, they use only binary genders and have no Islamic outreach.
So you have nothing to worry about. /s