Monday, 16 January 2012
Cameron And Osborne Kow Tow To China
Looking around the web came across a post by Automatic Earth that takes a look at the UK Economy and does not like what it sees. It is a longish item but worth looking at, if only because soon others may become very nervous.
The part which discusses the Incredible Shrinking UK Economy is of special interest. Especially, in the news put out today about the future of the City of London, put over as good tidings.
The City of London is set to be the world epicentre for trading in the Chinese yuan/renminby money and financial sector. In other words while the previous government bet the house on one set of currencies and trading this government is placing the same bet on another.
For those with the time and interest to scout the web for information on the 19th century history of the Chinese Concessions the notion that the government of China may not just have a foot in the door but may be in occupation of the main hall of the building is not good news.
I have remarked before about the potential for an Honourable West European Company of China bent on economic and trading control and this may just be the beginning.
The picture above is of a British master mariner trading in Hong Kong in 1830. Beside me I have the cash box of another like him who was there at the same time and making his money in trading.
So will the contents of this cash box now depend on China in a very different way?