China-Japan rearmament is Keynesian stimulus, if it doesn't go horribly wrong – Telegraph Blogs:"Asia is on the cusp of a full-blown arms race.
The escalating clash between China and almost all its neighbours in the Pacific has reached a threshold.
All other economic issues at this point are becoming secondary.
Beijing's implicit threat to shoot down any aircraft that fails to adhere to its new air control zone in the East China Sea is a watershed moment for the world.
The issue cannot easily be finessed.
Other countries either comply, or they don't comply.
Somebody has to back down."
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