United States needs to cut its state and federal budgets. Obama extended aid to teachers along with other spending has to be paid at some point. Now the macroeconomics has changed. The US credit card debt (Govt Debt) is gone out of hand. Europe stands almost in a similar position with so many states like Greece not producing anything. China stands to gain from all this.
This is why commodities are high while US workers in private sector lose jobs.
They are using dollars to buy up American companies. To integrate the Americans to Chinese culture, they are paying public schools to teach Manderin. I hope you don't mind working under Chinese leaders.
Amazing how the Soviets though they could control the world by building up their army. Unfortunately, all they ended up with were rusty obsolete tanks and planes.
The Chinese have figured out they can control the world economically, and they have the perfect centralized government to do it. They are already the dominant force in manufacturing and have considerable control over natural resources. They are the ones buying the mines and digging oil wells - and those natural resources are NOT going to be sold to the open market - they will only be used to feed the Chinese factories.
You can even look back at the Japanese in World War II - they thought they had to invade other countries to take over natural resources. The Chinese have figured out that all they have to do is BUY the companies that produce those resources.