An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Sunday, July 22, 2018
Big Think - What America gets wrong about China and the rest of Asia
This is a Charles Koch sponsored channel, but in the comments section underneath lots of people said they disliked the Koch's but enjoyed the topics on this channel. See what you think? It's quite positive about future US/ China relations.
The speaker (David Kang) mentions the idea that, as USA continues to weaken, and China continues to strengthen, there will inevitably be conflict. The speaker says that this assumption is a product of bias that stems from the Peloponnesian War (431–404 BC).
The speaker then claims that China is not a rising power.
Let’s grant for a second that he is correct, and that China is just treading water, so to speak. This does not change the fact that the USA is being destroyed by debt bondage, rent extraction, runway corruption, and ever-worsening inequality. Therefore power relationships are changing, whether this pathetic little ass-hat David Kang likes it or not.
US companies moved their factories to China in order to exploit cheap labor. This built up China into an industrial giant. David Kang claims that China is not an industrial giant, and is not a rising power, despite the fact that the Chinese yuan is steadily displacing the US dollar in several parts of the world.
So, according to Kang, everything is okay. U.S. bankers and oligarchs (like the Koch brothers who pay Kang to spout bullshit) can continue to destroy America with no consequences to America. Cool!
The speaker (David Kang) mentions the idea that, as USA continues to weaken, and China continues to strengthen, there will inevitably be conflict. The speaker says that this assumption is a product of bias that stems from the Peloponnesian War (431–404 BC).
ReplyDeleteThe speaker then claims that China is not a rising power.
Let’s grant for a second that he is correct, and that China is just treading water, so to speak. This does not change the fact that the USA is being destroyed by debt bondage, rent extraction, runway corruption, and ever-worsening inequality. Therefore power relationships are changing, whether this pathetic little ass-hat David Kang likes it or not.
US companies moved their factories to China in order to exploit cheap labor. This built up China into an industrial giant. David Kang claims that China is not an industrial giant, and is not a rising power, despite the fact that the Chinese yuan is steadily displacing the US dollar in several parts of the world.
So, according to Kang, everything is okay. U.S. bankers and oligarchs (like the Koch brothers who pay Kang to spout bullshit) can continue to destroy America with no consequences to America.
Cool!