Political Affairs Magazine - Rise of China and Pragmatic Marxism, An Interview

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If you have a problem with your AT&T bill in he US, you call AT&T and you get someone in Bangalore. But what happens if the United States economy experiences a meltdown? What happens to all the money that is being poured into India now, and by extension what happens to all the money that is pouring into China? What happens to these vast dollar reserves that China holds, that could be literally worthless if the value of the American currency plummets? This is something which many people are very concerned about, including China. China right now is in talks with the European Union trying to find a way of getting around using the dollar as the international common currency.

So China sees itself as being in a strange sort of contradictory position, where on the one hand it does business with the United States and welcomes investment, but on the other hand it is certain that the United States is in a sort of low-grade struggle with China, and that the United States is trying to position assets that could effectively curtail China and threaten it.