Friday, February 21, 2025

How Americans failed to stop China from becoming the next Super Power.: Richard Wolff : COMMENTS

 

How American Neocons Failed to Stop China From Becoming the Next World Superpower | Richard Wolff

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126 Comments

Eng Lam Yeo
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They have absolutely no right to interfere. Leave China alone and learn to compete racist America.
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Unlike Russia, china is a big market for western businesses. No way will they abandon chinese market.
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uSA has "Needed an enemy" (Or several, at once) since WW2 to maintain their "Industrial" System (You know the one) They also developed a "habit" of Exploitation to "Maximise profits" from those manufacturing for them. These traits tended to compliment each other. . Then there was "dominance" of the Financial System. WHAT could go wrong?? Well.... "The Enemy" failed, meaning they had to go LOOKING for conflict to maintain the "industry". . They Over extended their "AMEX Card" ... "Because they could" and printed money to compensate. AND They picked a "New enemy" who happened to ALSO be the latest country they had tried to Exploit for the "Maximisation of profits". THAT was a mistake... Because THAT country was: Too SMART to control the industrial growth INVESTED (properly) in that growth (Unlike uSA) AND Too big To control militarily once they had the industry. THEN they became so good they outperformed any product uSA could make. uSA LOST their advantage in BOTH areas. THEN the uS Economy started to fail.....
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Some one told me when Kennedy died , this is the end of USA . When hk went back to China . Ex New Zealand p m , it means the end of the British empire , like Rome , the bigger you are the harder you fall .
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The same hypocrites who shipped all our jobs over there to make the Walmart heirs and everybody else our rulers failed to prevent what they created😂
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Wolf: "Freedom and democracy, Sorry, I repeat this nonsense." 😂😂
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Richard Wolff - you are a very smart and informative honest person!! Thank you so much for your contributions to humanity!! You are a truly inspiration and asset to this world. Thank you Robinson too for interviewing this remarkable person. hand-pink-wavingface-blue-smiling
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When Trump proposes MAGA, he is already admiting to a multipolar world.
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Common sense, is truly a rare commodity.....
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Long time ago, Confucius said: the Western people were insatiable conquerors but we Chinese were magnanimous governors.
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Why shamelessly hold others back instead of striving to improve yourself?
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USA All talk and no substance
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Very clear very precise and extremely multidimensional analysis.
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Greed gets em every time
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While China was playing chess the US was playing checkers.....Greed was their downfall!
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Let's see a bunch of zealots couldn't stop one fifth of humanity from developing, god complex much?
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We are so intertwined with Chinese economy that unwind would cause depression in the US
Here’s a question: Why would you want to stop your neighbor from living a better life? And why do you think you have the right to do that?
How come smart people like Richard Wolff never get to advice the American government. Some invisible hands are there to keep smart people like this away.
The young interviewer is smart 👌
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China is unique,there is one China only in the universe. The nake up n people structures are combination of 56 types n peaceful n harmonious livings with each other n the universe is prime.Chinese cultures are different n their cultures make them unique...
That's how much they know about the Chinese people.
You know what me apia boat is you talking about everything not the Chinese they don't interested in empire
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How redicules is all this you think USA is the WORLD. . .WAKE UPEOPLE FROM.YOUR ILLUSIONS.. .
The talks with Russia about Oekraine....are ment to help Israel......which is a very good thing.... And are also intended to to divide Putin and Xi. !! !!!!
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I think we do know based off the Uyghur camps
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On behalf of the US we ain't sharing nothing
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This is not true. Oh my God tankies 🤣
Why does he say things that are not true? This is not true at all. Everyone knows there's one last thing if all else fails.
Cracks in the global elite The current mode of the globalization started with the political decision of the United States to stimulate  the economic development of Japan so that it become a counterbalance to the Soviet Union and China in the East. As a result, the custom taxes were removed in the United States on the import of several industrial products from Japan notably textiles and consumer electronics. The results were impressive. Japan did propel in its economic development, with the standard of living significantly being improved. Simultaneously, cheap, diligent and industrious Japanese labour ensured, in the labour intensive  industries,  the very low production costs which benefited the US consumers. Most importantly, the corporations involved enjoyed huge profits . When the salaries in Japan increased, the profits from the labour intensive industries declined. To maintain the profit or the corporations and the flow of cheap import of consumer goods to US,  the new pattern of globalization was extended to so called five Asian tigers. The taxes on their export were decreased or removed. As in case of Japan, many industries including garment, textile and consumer electronics moved to those countries. Again, with the rise of labour cost in Asian Tigers, this process was repeated with the inclusion of some other countries, particularly, ASEAN economies and then China and India. Everybody seemed to be happy. The new trend of globalization was eventually legalized in WTO agreements. But there were many seemingly unexpected side effects. Although, many developing  economies, mentioned above, and even some developed countries like Germany have benefited from the globalization many other nations and their people have not been so fortunate. For instance, Arab countries, which are not oil producers, were not able to successfully compete in the new open economic environment. Their agriculture has been also damaged by the opening to the highly subsidized agricultural import from developed countries. Resulting deteriorating living conditions was the most important cause of the Arab spring . Similar results of the globalization are evident in many countries in Africa and the Latin America. This trigged many military conflicts in and the waves of immigrants from Africa , the Middle East and Latin America to developed countries both in Europe and America The global elite which has gained tremendously from the globalization is not worry of the plight of developing countries and their people. The immigration is even beneficial to the corporation as it allows to suppress the labour cost in the developed countries.  But there have been others unexpected results. Most importantly, with many industries being moved from developed to developing countries, it appears impossible to maintain the level of life the people enjoyed in the second half of the last century in developed countries. Everywhere, the real incomes are going down , people have to pay  more and more for the medical care and the education. The discontent is growing all over the wold resulting in backlash against the current economic system. It may be useful to recall that the initial wealth accumulation in the developed world started with the colonization and slavery. Then, it was discovered, that it was much more profitable to import cheap natural resources from developing countries, make value addition through manufacturing and then export back  the product at very high price. So called the ceases of prices brought to the developed world even more wealth than the inhuman colonialism. As wealth was created within the countries, it was sheared between the elite and people. This ensured social and economic stability. As many wealth producing industries move from developed countries, there was a hope that the service and financial sectors became the back bone of their economies. However, the current development seems to support the view that the financial and service sectors only create wealth when they are the integral part of the real economy while the financial manipulations and speculations only increase the number of billionaires and the shear of the financial sector in GDP. The fiat currency capital has appeared to not sufficiently trickle down to the real economy to support sustainable development. Neither it has trickled down to the ordinary people with the wealth gap growing all over the wold. With the shortage of the wealth generated nationally it has been compensated by increasing debt. To stimulate the national economy , maintain the standard of living and purchasing power of the population and produce the public goods the governments at all levels and as well as the people have to use more and more borrowing. In some smaller cases, the some national or local debt problems seems possible to be resolved through austerity but there is no much understanding what to do when much bigger countries, states or segments of population are involved. For instant, only US government has accumulated two trillion US$ and does not anything to resolve the problem. There was also a hope that the wealth continued to go to the developed world attracted by the financial centers , tax havens or real estate opportunities. It works but money flow again appears to be insufficient to support  the current standard of living and sustain the economic development. Moreover, it is not clear what would happen to this inflows in case of a serious crises. A part of the elite continues to be fully satisfied with the current model of the globalization. This part represents the transnational financial and other global corporations addicted to the profit maximization at any cost. Their CEOs depend on the today's profit for their  positions and benefits. Their shareholders are looking to maximize the profit now. These people are not capable to look into the future.  The other part of the elite, mostly family owned , is worried of the deteriorating social and economic conditions and the rise of the alternative political forces, both right and left. Most frustrating to the elite is the fact that one of the major results of the globalization has been tremendous shift of the  real wealth producing manufacturing industries to China.and the rise in political, economic and ideological strength of the communist China Consequently, the later part of the elite, wants to change the current globalization model and return the wealth producing manufacturing machine back from China and other developing economies. They already have great election successes in US and UK under slogans “America first” and “ UK first”. They also like to review the current economic agreements including those under WTO which so greatly benefited China. These above election victories and the followed actions met with strong resistance from the other part of the elite addicted to the short term profit. This represents a great split of the elite which makes the whole current  capitalist economic system weaker. Most likely, it is now impossible to contain China economically even with igniting a trade war as it is already equally strong and in little more than fifteen years China would be two times economically stronger than US. Unfortunately, there might be a desire of the most extreme part of the elite to contain China military. China is now much weaker military then US not speaking of NATO plus Japan. However, China has nuclear deterrence which makes any military conflict absolutely dangerous. Furthermore, Russian military power is still formidable and its position will be crucial in any military confrontation. Combined military power of China and Russia puts them at least on equal foot with US and its potential allies. After the end of the Cold War and the disintegration of the Soviet Union the West discarded Russia as a political or military power and consider it as a devoted Western puppet. It totally ignored the political and economic interests of Russia and actively promoted Russophobia in the former Soviet Republics and beyond. Actually, the Russian establishment which transferred to the West at list one trillion US$ would have been happy to become a part of the global elite. Majority of Russian oligarch moved to the West and even changed their citizenships. However, they all were treated as second class people and were threatened with confiscation and even imprisonment. Not surprisingly, a part of the Russian establishment had become patriotic. When they decided to protect Russian interests the West tried to use its economic power to force it to comply with the West orders. Ironically, anti Russian position of the West including the NATO encirclement  of the Russian borders and the economic and political sanctions and pressure had the effect quite opposite to the West expectations and pushed Russia closer to China in all areas. Ideologically, however, China and Russia are on the different sides , especially as Russian Establishment abandoned socialism. So, there are some voices in the West calling for the reload of Russia -West relation in a hope that Russia distances itself from China. However, because of the continuation of the chaotic and unfriendly policy towards Russian it will continue to move closer to China in the near future. It gives China sufficient time to overcame any attempts to its economic and especially military containment.
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