Outside of the market madness, the biggest global news this week might be China sending its first aircraft carrier to sea.
The launch was not unexpected and China sought to downplay its significance, saying "it will not pose a threat to other countries."
Still, "it is the most potent symbol yet of China's desire to develop the power both to deny U.S. naval access to Asian waters and to protect its global economic interests, including shipping lanes," The WSJ reports.
Like many others, Stephen Glain, author of State vs. Defense, believes the U.S. and China are, indeed, on a collision course. "Absent a good faith attempt to negotiate this thicket of disputes between China and Taiwan and the Philippines and Brunei and others, I think it's inevitable," he says. "The Chinese are not going to back down."
