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Made in China; Started in America
Made in China; Started in America
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Made in China; Started in America
With China
now underwriting America's budget deficit to the tune of $1 trillion dollars in
government bonds, I use the start of the Global Financial
Crisis as the catalyst to imagine a near future where the long perceived
decline of the US global empire and the rise of China become a physical reality,
starting with the rise of the 'Moa Dollar'..! The project was originally conceived in response to the competitionFUTURE.city.Past>FORWARD run by the d3space galleryin Brooklyn, New York."China exports lots of goods and foreign companies are investing heavily there, so it's running a huge trade surplus. But rather than keep all that money, Beijing is using it, overwhelmingly, to buy US government Treasury bills? Beijing is bankrolling America's huge budget deficit. At some point China could well decide to stop this... Quite simply, that would stop the American economy, the locomotive for the whole world, in its tracks."*1Paul Krugman, professor of Economics, Princeton University 2005'Global Adjustments'September the 15th - A day that no one imagined could happen. New York, America and the rest of the world is momentarily stunned as they wittness the greatest catastrophe yet of the banking crisis. Lehman Brothers, America's 4th largest investment bank and a 158 year old business goes bankrupt. The BBC interviews a man on Wall Street. He says he - wonders if the federal government is responsible for the lowering of standards that allowed everyone to have the American Dream which is now turning into the American Nightmare.The same day President George Bush makes a speech in which he admits current difficulties, but tries to reassure in saying; in the long run I am confident that our capitol markets are flexible and resilient and can deal with these 'adjustments'. As he finishes he grimaces involuntarily as if trying to swallow the full gravity of the meaning of the word adjustments.Now under the new administration of Obama the US has as a last resort put together a 700bn dollar stimulous package, making them further indepted to foreign investors, principally China.In Mao We TrustWith China underwriting America's dept in excess of $1 trillion dollars in government bonds and, with the US financial systems effictively completely nationalised the Chinese now have a major steak in their economy.As the world's single largest holder of foreign currency China is able to control the amount of dollars in circulation and therefore influence the markets in their best interests.Despite numerous offical statements from the American government thanking China for their continued confidence in the Dollar by continuing to by Tresuary Bonds the US increasingly comes under pressure to acknowledge in a meaningful way China's aid. So in what is officially announced as a sign of gratitude to the Chinese, the first Mao Dollars to the value of one US dollar are printed for general circulation. *4&5The 'Chimerican' DreamAs the USA once had a global empire based on the exporting of the American way of life through American products, fashion, film and popular culture; Chinese owned companies now supply the world's desires. Yet rather than a sudden change in branding or obvious restructuring of the capitalist formula, what the world once saw as an American image gradually and simply takes on a Chinese appearance. People talk of the 'Chineseification', but this is just a by word for loss of local culture and the ever expanding monoculture of globalisation.America TownThe worlds memory of great American way of life has been reduced to a tourist attraction in Beijing. As Las Vegas once entertained predominantly American tourists with its replica cities including Manhattan town; America Town in Beijing houses a collection of curious monuments and buildings of America's once most deliriously dazzling city, New York. Except here the building are not replicas they are the real structures sold off piece by piece in a desperate attempt to pay off American dept. Wall Street Bank, the Statue of Liberty; the Empire State building and the Chrysler building become showcase pieces in the Museum of Western Capitalism.Reverse Tide of ExportationFor decades the US had been importing cheaply manufactured goods from China. Everything from toys; clothes; cars; electrical appliances; construction steel and even entire prefabricated section of buildings were shipped over to fuel America's insatiable consumerist economy. This was a symbiotic relationship as it meant that the Chinese were able to maintain their enormous population in work and the US was able to maintain its population surrounded in affordable luxury.Now that China has a larger domestic population demanding the same luxury products as American's once did the cycle has been reversed. China increases its imports of the disused and un-purchased products - now too expensive for most American families and puts to use the experience of recycling the West's waste to create products to be resold in China.Salvaged SkyscrapersStill lingering in depression and unable to maintain many of their now deserted skyscrapers. The US begins dismantling and exporting entire buildings to China. The buildings that had once been shipped over in their prefabricated sections are now shipped back. The Chinese with their ever expanding cities are more than happy to put their ingenuity and decades of recycling know how to use.A new industry of Skyscraper adaptation is created. The role of the architect is now in devising methods of reassembling buildings from their prefabricated sections and combining various building programmes to meet client demand.*Sources1. The Telegraph:www.telegraph.co.uk/finance/2917641/China-is-the-financial-nexus.html/>2.BBC Business News:http://news.bbc.co.uk/2/hi/business/7521250.stm3.BBC Business News:http://news.bbc.co.uk/2/hi/business/7615931.stm4.New York Times:www.nytimes.com/2009/03/14/business/worldbusiness/14china.html?scp=1&s />q=Hillary%20thanks%20China&st=cse5.Channel 4 News:www.channel4.com/news/articles/politics/international_politics/us+thanks+chi />na+for+recession+aid/29764576.Flowers East.comwww.flowerseast.com/Originals_Grouping.asp?Grouping=05EBCHNREC&OG=2 />
now underwriting America's budget deficit to the tune of $1 trillion dollars in
government bonds, I use the start of the Global Financial
Crisis as the catalyst to imagine a near future where the long perceived
decline of the US global empire and the rise of China become a physical reality,
starting with the rise of the 'Moa Dollar'..! The project was originally conceived in response to the competitionFUTURE.city.Past>FORWARD run by the d3space galleryin Brooklyn, New York."China exports lots of goods and foreign companies are investing heavily there, so it's running a huge trade surplus. But rather than keep all that money, Beijing is using it, overwhelmingly, to buy US government Treasury bills? Beijing is bankrolling America's huge budget deficit. At some point China could well decide to stop this... Quite simply, that would stop the American economy, the locomotive for the whole world, in its tracks."*1Paul Krugman, professor of Economics, Princeton University 2005'Global Adjustments'September the 15th - A day that no one imagined could happen. New York, America and the rest of the world is momentarily stunned as they wittness the greatest catastrophe yet of the banking crisis. Lehman Brothers, America's 4th largest investment bank and a 158 year old business goes bankrupt. The BBC interviews a man on Wall Street. He says he - wonders if the federal government is responsible for the lowering of standards that allowed everyone to have the American Dream which is now turning into the American Nightmare.The same day President George Bush makes a speech in which he admits current difficulties, but tries to reassure in saying; in the long run I am confident that our capitol markets are flexible and resilient and can deal with these 'adjustments'. As he finishes he grimaces involuntarily as if trying to swallow the full gravity of the meaning of the word adjustments.Now under the new administration of Obama the US has as a last resort put together a 700bn dollar stimulous package, making them further indepted to foreign investors, principally China.In Mao We TrustWith China underwriting America's dept in excess of $1 trillion dollars in government bonds and, with the US financial systems effictively completely nationalised the Chinese now have a major steak in their economy.As the world's single largest holder of foreign currency China is able to control the amount of dollars in circulation and therefore influence the markets in their best interests.Despite numerous offical statements from the American government thanking China for their continued confidence in the Dollar by continuing to by Tresuary Bonds the US increasingly comes under pressure to acknowledge in a meaningful way China's aid. So in what is officially announced as a sign of gratitude to the Chinese, the first Mao Dollars to the value of one US dollar are printed for general circulation. *4&5The 'Chimerican' DreamAs the USA once had a global empire based on the exporting of the American way of life through American products, fashion, film and popular culture; Chinese owned companies now supply the world's desires. Yet rather than a sudden change in branding or obvious restructuring of the capitalist formula, what the world once saw as an American image gradually and simply takes on a Chinese appearance. People talk of the 'Chineseification', but this is just a by word for loss of local culture and the ever expanding monoculture of globalisation.America TownThe worlds memory of great American way of life has been reduced to a tourist attraction in Beijing. As Las Vegas once entertained predominantly American tourists with its replica cities including Manhattan town; America Town in Beijing houses a collection of curious monuments and buildings of America's once most deliriously dazzling city, New York. Except here the building are not replicas they are the real structures sold off piece by piece in a desperate attempt to pay off American dept. Wall Street Bank, the Statue of Liberty; the Empire State building and the Chrysler building become showcase pieces in the Museum of Western Capitalism.Reverse Tide of ExportationFor decades the US had been importing cheaply manufactured goods from China. Everything from toys; clothes; cars; electrical appliances; construction steel and even entire prefabricated section of buildings were shipped over to fuel America's insatiable consumerist economy. This was a symbiotic relationship as it meant that the Chinese were able to maintain their enormous population in work and the US was able to maintain its population surrounded in affordable luxury.Now that China has a larger domestic population demanding the same luxury products as American's once did the cycle has been reversed. China increases its imports of the disused and un-purchased products - now too expensive for most American families and puts to use the experience of recycling the West's waste to create products to be resold in China.Salvaged SkyscrapersStill lingering in depression and unable to maintain many of their now deserted skyscrapers. The US begins dismantling and exporting entire buildings to China. The buildings that had once been shipped over in their prefabricated sections are now shipped back. The Chinese with their ever expanding cities are more than happy to put their ingenuity and decades of recycling know how to use.A new industry of Skyscraper adaptation is created. The role of the architect is now in devising methods of reassembling buildings from their prefabricated sections and combining various building programmes to meet client demand.*Sources1. The Telegraph:www.telegraph.co.uk/finance/2917641/China-is-the-financial-nexus.html/>2.BBC Business News:http://news.bbc.co.uk/2/hi/business/7521250.stm3.BBC Business News:http://news.bbc.co.uk/2/hi/business/7615931.stm4.New York Times:www.nytimes.com/2009/03/14/business/worldbusiness/14china.html?scp=1&s />q=Hillary%20thanks%20China&st=cse5.Channel 4 News:www.channel4.com/news/articles/politics/international_politics/us+thanks+chi />na+for+recession+aid/29764576.Flowers East.comwww.flowerseast.com/Originals_Grouping.asp?Grouping=05EBCHNREC&OG=2 />
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