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Moves toward sovereignty in Iraq stimulate pressures first for human rights among the bitterly repressed Shi'ite population but also toward some degree of autonomy. You can imagine a kind of a loose Shi'ite alliance in Iraq, Saudi Arabia, and Iran, controlling most of the world's oil and independent of the United States. And much worse, although Europe can be intimidated by the United States, China can't. It's one of the reasons, the main reasons, why China is considered a threat. We're back to the Mafia principle.
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