Bannon: China Is ‘an Enemy of Incalculable Power, Not a Strategic Partner and We Have to Understand That’, by Dan Riehl.

Said Bannon said of a recent speech by Chinese President, Xi Jinping, “His three-and-a-half hour speech a couple weeks ago was the single most important political speech of the 21st century. I think you could actually argue that years from now people might say it started there. Because he fundamentally went through how the Chinese Confuscious mercantilist authoritative model has beaten the West.”

“They will dominate ten separate industries, including robotics, artificial intelligence, chip manufacturing, all by the year 2025 and they’re very far down the road in doing that.” …

Bannon then addressed China and financial technology, saying, “They’re really working out to become the world’s reserve currency and also have financial technology that the United States cannot de-couple them from the world’s capital markets, which is our one point of leverage.”

The last is the 5G,” he continued, “they’re leading in the rollout of 5G and will have 5G way before the United States will have 5G. So, thy will dominate in technology that way.” …

He faulted the Bush’s and “that whole group” who insisted China would liberalize and become a free market democracy if we gave them favorable trade deals. Bannon called the strategy “dead wrong.”

“We have an enemy of incalculable power and they’re not a strategic partner. They are an enemy and we have to understand that,” said Bannon.

hat-tip Stephen Neil