Political economists Radhika Desai and Michael Hudson are joined by Beijing-based scholar Mick Dunford to discuss China's economy, explaining its development and technological transition.
"Future"? China's been driving, enabling and democratizing an unprecedented price-busting global manufacturing/innovation/tech Revolution for the Masses for well over a decade. And they're also focused on empowering the masses by making green-tech solutions like electric cars, ebikes and escooters affordable for the non-affluent and low-income majority.
Yet strangely but predictably the non-green or anti-green(and usually/ironically gasoline+combustion-loving) Left never applaud China for their democratization of the empowering, mobilizing state-of-the-art green-tech solutions like those I've just listed....
Capitalism, be it State capitalism as in China or capitalism as practiced in the US has crisis upon crisis. China's growth rate is falling, its youth are finding little good paying jobs, the middle class has shrunk, the economy is tanking. What is of interest is how, within the global economy, the fall of China's remarkable progress will affect US companies that service China, such as corporations like Este Lauder that rely almost exclusively on Chinese consumption. They are not alone. As China's growth rate falls amidst a global meltdown of capitalism, consumption will be even more limited affecting everything that China imports and the countries that export to them. More global economic woes. No, capitalism is still the problem and the Chinese's remarkable development is testimony to what Marx warned: capitalism, unfettered would rise like a monster and with it over production and under consumption due to exploitative economic relations between employer and employee. This has not changed.
"Future"? China's been driving, enabling and democratizing an unprecedented price-busting global manufacturing/innovation/tech Revolution for the Masses for well over a decade. And they're also focused on empowering the masses by making green-tech solutions like electric cars, ebikes and escooters affordable for the non-affluent and low-income majority.
Yet strangely but predictably the non-green or anti-green(and usually/ironically gasoline+combustion-loving) Left never applaud China for their democratization of the empowering, mobilizing state-of-the-art green-tech solutions like those I've just listed....
PG
Capitalism, be it State capitalism as in China or capitalism as practiced in the US has crisis upon crisis. China's growth rate is falling, its youth are finding little good paying jobs, the middle class has shrunk, the economy is tanking. What is of interest is how, within the global economy, the fall of China's remarkable progress will affect US companies that service China, such as corporations like Este Lauder that rely almost exclusively on Chinese consumption. They are not alone. As China's growth rate falls amidst a global meltdown of capitalism, consumption will be even more limited affecting everything that China imports and the countries that export to them. More global economic woes. No, capitalism is still the problem and the Chinese's remarkable development is testimony to what Marx warned: capitalism, unfettered would rise like a monster and with it over production and under consumption due to exploitative economic relations between employer and employee. This has not changed.