Does anyone else see the irony that China, our most critical trading partner -- OK, maybe not by the numbers relative to Canada, Mexico, and the UK, but certainly strategically given current Western investment -- is pushing a confrontation with the US in the new military frontier of space? According to the AP, "A report released Friday by a U.S. congressional advisory panel said there is a movement within the Chinese military for development of an anti-satellite weapons system that could be used against U.S. targets without warning. The report said even a small-scale attack could have "catastrophic" consequences for the United States."
Certainly, programs like this will be extremely costly and could escalate another arms race and build up between the two new world superpowers. But if China really wants to put the screws to the US, they could just dump their near trillion dollars of reserves held in US dollars. Granted, permanently driving down the dollar on the world market is not as news worthy as blowing up aging weather satellites -- or military ones, in the future -- but it certainly would have the same desired effect.