IF THEY DO THAT, NATIONALIZE THEIR HOLDINGS. China could ‘turn off power’ in the Philippines, senate hears. “China’s State Grid Corp has a 40% stake in the National Grid Corporation of the Philippines (NGCP) – which runs the country’s lone power transmission line. It transmits electricity all the way from Luzon – the northern end of the country – down to Mindanao in the south.”

China has big stakes in a lot of countries, but it lacks the military and the diplomatic muscle to keep them from being nationalized, especially if the United States backs the nationalizers. Hey, people did it to us for decades; let them learn what it’s like to be a global power.