“The sheer scale of their coordinated efforts to develop their economy, to subsidize, to create national champions, to force technology transfer, and to distort markets in China and throughout the world is a threat to the world trading system that is unprecedented,” Lighthizer said.
“We must find other ways to defend our companies, workers, farmers, and indeed our economic system,” he implored. “We must find new ways to ensure that a market-based economy prevails.”Asia Times
China represents ‘unprecedented’ threat to world trading system, says US trade czar
Asia Unhedged
4 comments:
Tl;DR The US controls the 'market' and doesn't want anybody on their patch.
Well hard luck. The Chinese, Indians and Nigerians are coming.
That made me laugh my head off, the Chinese are allowed to do as they like, it's their own country, it just happens to be a more effective system, that's all. So, perhaps all those economics professors at the great universities who have been telling us for 40 years about the benefits of neoclassical economics and getting the government out of the way should be held to count because - THEY GOT IT WRONG!
They only got it wrong if one believes the hype that captialism is the optimal economic system for democracy, when the truth it is that it is optimized for oligarchy and the oligarphs have done just fine, thank you.
Some economists are dumb enough to believe their own BS. Others are not; they are shills for the people that pay them and pay them honor.
The optimal economic system for democracy is socialism, which puts society, that is, people first.
The optimal economic system for plutocratic oligarchy is capitalism since it puts propery ownership first.
Neoclassical economics and the political science of bourgeois liberalism is just hype for oligarchy, and plutocracy in particular.
I wrote this in the Guardian today, not that anyone read it. This is an extract. I will have to rewrite it one day with a new headline, How the One Percent Can Get Everything In The World For Free, No Work Required.
'Well, so much for democracy in the US [the election of Trump didn't make any difference]. The US ha spread its version of democracy around the world so it can install puppet regimes. like it has puppet presidents, to turn those countries into vassal states. Then their markets will be opened up to 'capitalism' and 'free trade' so that the western ruling elite - who can borrow £Zillions cheaply from from Western banks which can create money out of nothing - and then they will buy up everything in that country when the puppet regime is told to privatise its assets and state owned companies (and they can buy up that country's private companies too), but the ruling elite are the bankers so they actually have been able to buy up that country's resources and companies for nothing.
Think about it, western banks can create the money out of nothing and then loan it cheaply to the ruling elite, but the ruling elite own the banks? So, when they have bought up a country's resources for pennies on the dollar they can earn profits from selling those resources back to western countries and then they will be able to pay the bankers back the money owed plus the interest. But the bankers and the ruling elite are one and the same, so a few Western rich people actually got that country's resources for nothing.'
This capitalist system is a con job.
Post a Comment