The Left Coaster connects the dots on China-Taiwan

The Left Coaster Steve Soto points out that China's sabre-rattling isn't just about Taiwan.

No one at 1600 Pennsylvania Avenue should overlook the fact that this vote was authorized after we asked for restraint. This is nothing more than the Chinese wanting to show that the Bush Administration, despite all its bluster, is impotent outside of Iraq. It sends the desired message to all countries in Asia and throughout the world that the Chinese don’t think much anymore of Bush or his administration, and I’m sure the Chinese leadership is eagerly awaiting the first visit of Condi Twin Mirrors to schmooze them.

There's an old saying in business: if you owe a thousand dollars to the bank, you have a problem; if you the bank a million dollars, they have a problem. I think the opposite likely applies with foreign currency exchange. China holds bazillions in overvalued dollars. If they dump them, China could easily start a run on the dollar that could devastate the U.S. economy. And convince George Bush to imitate Ned Beatty in Deliverance.