Interesting story here via the NYT on how China (in true fashion) is using the current global financial crisis to its benefit.  China is taking this opportunity to shore up its domestic demand, reduce social unrest by providing job training, rapidly and dramatically increase bank lending, slow inflation, and more.  Leave it to China to quickly pass a stimulus package that dwarfs that of the U.S. (on a per capita GDP basis, and as a share of total GDP) and use the downturn as an opportunity for long run future …

Well, at least the press would like you to think that. Last night, President Obama dispatched heavily armed destroyers to the South China Sea in response to a group of Chinese ships confronting a USN vessel. President Obama met with Chinese Foreign Minister, Yang Jiechi, who refused to acknowledge any wrong doing by the Chinese….