Friday, August 14, 2020

Why the West Needs to Stop its Moralising against China, Kerry Brown

After the American led wars in the ME, which may have over half a million people dead, and the financial collapse in 2008, where it bailed out the bankers only, the US is hardly in a position to take the moral high ground, says Kerry Brown.

 The Great Financial Crisis of 2008 only reinforced the message that the capitalist world was not even able to supply answers to the very things it still maintained the strongest claims to leadership on. As historian Adam Tooze has shown in clinical detail in his 2017 book `Crashed’, mismanagement in the first place was more than supplemented by greed, protection of vested interest, and immorality. Even more devastating, it was the Chinese and their growth after 2009 that stabilised much of the global situation. Unlike with the Gulf War debacles, however, almost none were held to account for the loss of livelihood and wealth that flowed from the collapse of markets and growth around 2008. On top of the moral collapse in geopolitics, there was an even more damaging one in the world of finance and the economy.

In all of these issues, China in particular, despite many accusations levelled at it, is not guilty. It did not remotely have a role in the reasons for the US and others getting sucked into the War on Terror – and nor did it want to see 2008, despite some economists blaming its own economy for bringing about the distortions that led to the whole event. China’s main issue, as has become clear since, is that, in both these historic areas, it was largely able to move through without any detrimental effect to itself. In fact, by accident rather than design, as the US and other powers harmed themselves, China simply carried on economically, growing stronger.  


Why the West Needs to Stop its Moralising against China, Kerry Brown


19 comments:

Matt Franko said...

“ and the financial collapse in 2008”

Did that evolve from the apes by random chance?

Matt Franko said...

“ however, almost none were held to account for the loss of livelihood and wealth that flowed from the collapse of markets and growth around 2008. ”

The Fed suddenly increased reserve assets at banks by $100Bs in September 2008 and made all the banks insolvent... Yes they’ve never been held to account ...

They almost just did it AGAIN this year but they made this temporary regulatory adjustment and avoided it;

https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200515a.htm

Expires April 1 2021... tick tick tick tick.....

Ralph Musgrave said...

Banks have been collapsing regular as clockwork for 500 years. And every time it happens everyone falls over with amazement.

It's a wonder people don't fall over with amazement at the Sun rising every day...:-)

Marian Ruccius said...

Contrary to what I said yesterday about Kaivey's posts, this is a good and fair piece.

Matt Franko said...

I’m only concerned about our present day US Federal Reserve System Ralph....

Nobody cares about why some old sailing ship wrecked 500 years ago...

Matt Franko said...

Nobody cares about China anymore either.... we’re moving on...

Trump said he hasn’t talked to Xi in months...

Once this plague they caused is over we’re going to get a judgement against China and confiscate all of their USD based assets in compensatory damages...

S400 said...


Nobody cares about China anymore either.... we’re moving on...”

Yeah right! Sanctions upon sanctions, tariffs, stopping competing hitech companies, endless blaming the virus here and there. They care a lot and don’t move on in any other direction.

Unknown said...

Actually I care that my voice is heard irrespective of my ethnicity. Can I get rid of some bombastic ape leading the Chinese Communist Party or American Republican Party or British Conservative Party who stop it being heard? Go figure the odds!

Matt Franko said...

“Sanctions upon sanctions, tariffs, stopping competing hitech companies, endless blaming the virus here and there. “

I know... That is called “LEAVING”...

We are leaving and arming to the teeth.... soft power didn’t work...

When something doesn’t work, you have to make adjustments...

You Art Degree morons are trained to keep doing the same thing while expecting a different result.... that’s why you can’t detect the policy shift happening right before your eyes .... you can’t let go of the old policy....

You have major problems with Transitions:

https://www.psychologytoday.com/us/blog/the-novel-perspective/201203/the-truth-about-transitions

You can’t simply discard the failed policy....

Greg said...


Once this plague they caused is over we’re going to get a judgement against China and confiscate all of their USD based assets in compensatory damages...


PLAGUE! ? I thought it was just a bad cold Frankie Boy

Can’t even keep your story straight. When discussing China they get blamed for this horrible thing, when Americans criticize Trump they are just lazy asses who don’t want to work and this whole scam is fabricated by public health officials with axes to grind and closet authoritarian aims.

Try to stick with one script Matt

Matt Franko said...

Yo I didn’t say I agreed with it I am telling you what the new policy is....

“Plague” is Trumps word.... he uses it all the time...

If he wins he’ll be going after Assets...l

Matt Franko said...

How biased are you people where you can’t discuss what is actually going on???

You guys really got ripped off in your education.... you got completely scammed....

Matt Franko said...

Here:

https://www.cgstrategy.com/news-posts/the-psychology-of-transition/

“ Everyone moves through the transition phases at different speeds, so it is vital to monitor where you and your team are in the transition process and to respond accordingly.”

You guys have been trained to either NOT transition or at least to resist transition or transition very slowly....

Matt Franko said...

You’re like the gold standard monetarist people who can’t transition to the present monetary system the MMT tries to explain...

Can’t give up the current knowledge...

Matt Franko said...

Always fighting the last war....

Matt Franko said...

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1693212/pdf/12903660.pdf

“ abstraction within con- ceptual representations involves three levels:
(i) the selective storage of relevant information and dis- carding of irrelevant information;
(ii) the development of type rather than token represen- tations;
(iii) the development of higher-order constraints within an ontological hierarchy.”

You’re not doing level 1 which requires discrimination and discarding ... the “narrow gate” figurative language from Scripture....

You seem to want to hold on to irrelevant (false) information.... synthesize it or combine it... rather than discard it...

You’ve been trained to do this.... it’s not ideal.... at least when working in material matters...,

Peter Pan said...

President Biden: Hi Xi, could you be so kind as to find a job for my sin, Hunter? He's very qualified, he has a nose for business...

S400 said...

“How biased are you people where you can’t discuss what is actually going on???“

How about you start train how to express yourself if you think you always getting misunderstood?

You really got ripped off in your education.

S400 said...

Here’s an example of you obscure confused way of expressing yourself:

“ Nobody cares about China anymore either.... we’re moving on...”

And that should be be understood as what? This?:

“ That is called “LEAVING”...

We are leaving and arming to the teeth.... soft power didn’t work...“

Unclear thinking, unclear writings.