Tuesday, May 28, 2019

Richard Wolff - Huawei no longer ‘national security threat’

Richard Wolff says that China's capitalist system of state control of many leading undustries, with a tremendous amount of central planning and regulation, has given them 10% growth rate each year for 25 years and that's why they will never give it up.

Trump may eventually negotiate a new trade deal and Huawei and will no longer be considered a threat, which will make him look good to his base.


Ralph Musgrave said...

The fact of state ownership of several industries has given China spectacular growth? I doubt it. It's the fact that they've spent the last three decades adopting Western technology that did the trick (not to mention stealing the West's industrial secrets).

In fact it is precisly the state owned industries in China which tend to make a loss.

Kaivey said...

The Western technology was given to them by us. The top echelons of society made a fortune out of it, but it was never going to last. Now we're losing when we could have been out front.