China's state-led economic development model transformed it into what an EU think tank calls "the world's sole manufacturing superpower", making up 35% of global gross production.
Meanwhile the spiteful West wallows in the ruins of neoliberalism pursuing poverty digging its own grave, waging war and genocide when it should be waging peace and prosperity for all. The West must now lift itself out of both moral and fiscal poverty. The "white man's burden" has now become the white man's burden come home to roost.
In 2004 I was in Nashville at a Chamber of Commerce meeting full of mostly Republican, conservative, business owners. The subject of China.. There were presentations by guys who were active in China, and Everyone was gushing and pushing the line "You HAVE to have a China Strategy!!!".... by this, they meant that if you want to make money and stay competitive you have to invest in production facilities in China.
No one talked about strategic political and military concerns. No one questioned whether it might be dangerous to transfer all our technology to China, including airplaines and high tech stuff like Boeing and computers and communications.
I remember I talked to my father at the time, who had invited me to the event, which he was hosting in his capacity as US Dept. of Commerce Director for the state, and I told him that if we were really strategic, that was the point in time when we could still bomb and attack China and bring it under our hegemony. I was not seriously suggesting an attack; It was just a point I was making. But instead of consider geopolitical strategy, they all greedily thought of their own profit margins, and they All went to China without any restriction or limitation, in their natural desire to enrich themselves.
Those were the same Republicans, same people that today will be convinced we have to be on a competitive war footing with China.. and they will all pour their money into "safe" investments in Us military infrasturcture investments to have a big war with China .
Great video Ben! Looking forward to the whole article.
While the CPC's achievements can't be understated, there are a few aspects of the Chinese economy that are puzzling namely:
- If banking is ran in the public sector then why aren't the banks 100% owned by the government? There is some private ownership in banking as well, so why do they allow that?
- China still allows hedge funds, stock buybacks, and futures trading to exist. I'm sure it looks much different there than in the US, but that is not clear to me. What is the CPC's rationale for their existence?
- While in your video you say FIRE is ~22% of US GDP adding finance and real estate in China amounts to ~16% which doesn't seem that much of a difference. Is the main difference manufacturing or what that financial capital is invested in?
I haven't seemed to find the answers to these questions online, so I'm hoping this is something you could look into in your full article. I'm not necessarily criticizing the CPC because it's probably just my lack of understanding, but I think explaining these aspects of the Chinese economy is important too for fully understanding it's socialist system.
Superb – infos and presentation! I don’t question Bens conclusions and not that there is more of the same to come from China. But doesn’t Ben overplay his hand a bit. ‘Value added’ of China (29%) is on par with US + Japan + Germany (28%). But still: The population of China is more than double as large as the latter three combined (1400 mill. versus 540 mill.). So only to provide its own people China needs a lot of manufactoring.
As mentioned here, the US is the largest supplier or arms to the world, and Ukraine has proven that they don't function well in a real battlefield setting. The DoD has ripped off the American public for decades. The neocons have proved that "Greed is not good." in spite of the movie Wall Street.
That may be true right now but at least in the US, they r building out both infrastructure and manufacturing sites. Everyone realizes they have to buy of course, it does take time
Meanwhile the spiteful West wallows in the ruins of neoliberalism pursuing poverty digging its own grave, waging war and genocide when it should be waging peace and prosperity for all. The West must now lift itself out of both moral and fiscal poverty. The "white man's burden" has now become the white man's burden come home to roost.
In 2004 I was in Nashville at a Chamber of Commerce meeting full of mostly Republican, conservative, business owners. The subject of China.. There were presentations by guys who were active in China, and Everyone was gushing and pushing the line "You HAVE to have a China Strategy!!!".... by this, they meant that if you want to make money and stay competitive you have to invest in production facilities in China.
No one talked about strategic political and military concerns. No one questioned whether it might be dangerous to transfer all our technology to China, including airplaines and high tech stuff like Boeing and computers and communications.
I remember I talked to my father at the time, who had invited me to the event, which he was hosting in his capacity as US Dept. of Commerce Director for the state, and I told him that if we were really strategic, that was the point in time when we could still bomb and attack China and bring it under our hegemony. I was not seriously suggesting an attack; It was just a point I was making. But instead of consider geopolitical strategy, they all greedily thought of their own profit margins, and they All went to China without any restriction or limitation, in their natural desire to enrich themselves.
Those were the same Republicans, same people that today will be convinced we have to be on a competitive war footing with China.. and they will all pour their money into "safe" investments in Us military infrasturcture investments to have a big war with China .
Frankly they are either stupid or insane or both.
Great video Ben! Looking forward to the whole article.
While the CPC's achievements can't be understated, there are a few aspects of the Chinese economy that are puzzling namely:
- If banking is ran in the public sector then why aren't the banks 100% owned by the government? There is some private ownership in banking as well, so why do they allow that?
- China still allows hedge funds, stock buybacks, and futures trading to exist. I'm sure it looks much different there than in the US, but that is not clear to me. What is the CPC's rationale for their existence?
- While in your video you say FIRE is ~22% of US GDP adding finance and real estate in China amounts to ~16% which doesn't seem that much of a difference. Is the main difference manufacturing or what that financial capital is invested in?
I haven't seemed to find the answers to these questions online, so I'm hoping this is something you could look into in your full article. I'm not necessarily criticizing the CPC because it's probably just my lack of understanding, but I think explaining these aspects of the Chinese economy is important too for fully understanding it's socialist system.
Superb – infos and presentation! I don’t question Bens conclusions and not that there is more of the same to come from China. But doesn’t Ben overplay his hand a bit. ‘Value added’ of China (29%) is on par with US + Japan + Germany (28%). But still: The population of China is more than double as large as the latter three combined (1400 mill. versus 540 mill.). So only to provide its own people China needs a lot of manufactoring.
Thanks as always, Ben, for your writing and the research that goes into it.
As mentioned here, the US is the largest supplier or arms to the world, and Ukraine has proven that they don't function well in a real battlefield setting. The DoD has ripped off the American public for decades. The neocons have proved that "Greed is not good." in spite of the movie Wall Street.
That may be true right now but at least in the US, they r building out both infrastructure and manufacturing sites. Everyone realizes they have to buy of course, it does take time
Until the US repudiates war and reforms its political system it is screwed.
Guy as much as I agree w u, the lousy economic system is dependent on it and it needs to end . We r in for a huge change coming