China guarantees Pakistan loans – price is???

Beijing’s guarantee of Pakistan’s foreign debt has a number of possible ramifications.

Isn't it wonderful China has all that money to, in essence, guarantee Pakistan's foreign debt? Do you kind of think Beijing will want to have a word with Islamabad about cracking down on al-Qaeda and Taliban in the North West Frontier? And, do you supposed Beijing's renbimbi might make Pakistan listen?

The Chinese remain vigilant about unrest among their own Uyghur Muslims in Xinjiang. And, surely, will be speaking with Islamabad about patrolling the North West Frontier more tightly, both to crack down on native Taliban and to prevent crossovers from Afghanistan.

Of course, Pakistan is itself devolving into chaos. It may be, if not a failing state, a C-minus/D-plus state right now. Whatever Beijing wants, Islamabad may not even be able to deliver.

The world financial situation, combining with inflation already in Pakistan, has sent the economy into free fall. Meanwhile, things like suicide attacks and kidnappings are on the rise. Per the second link, S&P downgraded Pakistan’s financial rating earlier this month, for the second time this year. (Why doesn’t S&P rate OUR government’s financial strength, BTW?)

That said, this is why I, like better known and knowledgeable bloggers like Juan Cole, have blogged repeatedly that Obama is (yes, allowing for political pandering) an idiot for proposing more troops in Afghanistan with the refusal to cooperate from Pakistan. The rising instability just underscores that.

And, unilateral intervention? Pakistan North West Frontier is about as rugged as Afghanistan. And, if Beijing is guaranteeing Pakistan’s foreign loans, they’ll want a say about that anyway.

The real price is, even if Beijing can’t get total order reinstated there, a changing of geopolitics in central Asia.

And, we have nobody to blame but ourselves. And by “we,” I mean “we,” not Bush in particular or D.C. in general.

And, this is beyond a Republican and Democrat issue. Both parties supported the formation of the World Trade Organization with no more environmental, labor rights or human rights protections than mercenary Republicans and sellout Democrats like Dick Gephardt (and Senate-presiding Veep Al Gore) got put into NAFTA.

Beyond that, though, too many Americans too lazy to bother looking beyond the “made in China” labels at Wal-Mart (and Target) as well as dollar stores, have contributed to this.

If you argue that many people had to do that, I’ll only partially agree. Many of the trinkets were unnecessary.

Besides, many of the non-poor bought made in China trinkets at places like Bed, Bath and Beyond, Linens ’n’ Things, etc.

If you’re knowledgeable about foreign policy, look in the mirror a little more when you worry about expanding Chinese influence.