Closing The OPEN DOOR

(Closing The OPEN DOOR)

John Hay was Secretary of State first under President McKinley and after his assassination. for President Roosevelt. Hay is known for the so-called "Open Door" Note. China in the late 19th Century was being carved up by European nations and in an attempt to make the process less chaotic, Secretary Hay in September 1899, proposed the "Open Door" where the various powers would equalize trade and commerce and the integrity of the Qing Dynasty would be respected.


Well, the Qing were deposed in a few years, replaced by the Chinese Communist Party. The newly named Peoples' Republic has offered the world cheap labor and when such chains like Wal Mart or Target need their products produced as cheaply as possible. But China has proven a double-edged sword. Beijing has chronically stolen information technology and so on. But in recent years, China has also begun to assert itself geo-politically.


It is no accident that Beijing is asserting itself now. With weakness in the White House and a President that could have greater ties to China than is generally known, China is seeing an opportunity that it has perhaps not seen since Imperial times. There is a new alliance with Russia. How is the American consumer fairing ?


China is determined to replace the United States and it is well on its way to accomplishing that. It is set to attempt to re-take Taiwan. The yuan (¥) could replace the Dollar ($) as the world reserve currency. With such ascendence, what could impede China's progress and perhaps return to American hegemony.


It is time to close the Open Door.  

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