I could also be writing about India, Brazil, and Russia, but each one of them is very different from the other, and China is bigger than any of the others.
Over the last 30 years, what has "The West" been exporting and importing? What has China been exporting and importing?
China gave up a lot of its best farm land to build factories and roads and airports and warehouses. China has become more dependent on the rest of the world for food. China imports more food than it did 30 years ago. China now has factories that make most of the consumer goods on which "The West" depends.
"The West" has been exporting much of this food to China. "The West" has exported its industry, (and the pollution that came out of the industry), to China.
You can see then, that the economy between China and the West has now reached the stage where even people in China are asking themselves, why are we doing this? Why are we polluting our best land, just to sell things to "the West", when now all we get back are Government bonds that are not even printed on paper? Now that we have got our electricity grid, our road network, our transport infrastructure, and all the basic tecnological know-how to go forward by ourselves, why should we get all the dirty work, while in "The West" all they do is grow cheap food for us to buy?
Isn't this why the Euro is collapsing? The Euro is in "The West", and is no better than the US dollar, especially since each one of its countries, Ireland, then Greece then Portugal and now Spain, has been struggling to roll over its government bonds. Even outside the Euro, the UK with its pound sterling is struggling to keep up the pretence at being worth lending money to. Today we have news that the UK trade deficit is still widening.
The only reason why the global economy has not collapsed yet is because the people who play with big sums of money cannot drag themselves out of the casino while they can still win money from all the little people. Meanwhile, everybody pretends that the little people need jobs, and governments and banks invent money to generate new ecomomic activity, even useless nonsense such as Facebook, just so that there are jobs to feed the little people. Surely socialism and communism, where little people were given handouts regardless of whether there were any useful jobs, deserves a look-in again compared with Facebookism.
How does China figure in all this? China is unique, because although it is not a democracy, it has the largest number of intelligent people whose interests are nonetheless protected by the state. Is China going to let this casino keep going, now that all its people can see themselves as the losers, and "The West" as the greedy winners?
It isn't politics. It is common sense. In the history of the World, we have never seen humanity come to this stage. We can only anticipate what happens next.