It is crucial to understand that this is a major reason for the West’s increasing belligerence toward China over the past decade. China’s development is challenging Western monopolies. This imposes a direct squeeze on Western profits but it also undermines a core tenet of imperialism.
The West’s monopoly power allows them to impose dependency on the global South. The South is forced to export large quantities of raw materials and intermediate goods in order to pay for imports at monopoly prices.
This produces large net flows from the global South, propping up the West’s growth and profits. If the West’s monopoly power declines, this flow gets cut off. They are desperate to prevent this from happening, to the point of fantasising about going to war with China to destroy China’s industrial base.
The West’s whole model for capital accumulation depends on Southern dependency. As that arrangement becomes increasingly unstable, the Western ruling class will become increasingly violent.
Absolutely hilarious for the FT to argue the West is losing to China because "liberal market democracies operate with greater accountability to voters."
Hilarious and, of course, absurdly wrong. China is winning precisely because it's obsessively focused on delivering for its people: infrastructure, improving living standards, reducing poverty, etc.
"Liberal market democracies" are losing precisely because they forgot who democracies are supposed to be accountable to.
Src: https://t.co/tQjkt6OSg4
Just finished a trip in China.
I know a lot in the west have been ignorant to what life is actually like in China.
Few takeaways
1. China is the most capitalist country in the world. The level of competition between firms is extremely cut throat. Has led to extreme value for consumers
2. For the level of population, it’s not that chaotic. Streets were clean, quite (due to most things being electric)
3. Everything is extremely convenient and efficient. Delivery drivers, restaurant service, payments. The tech is genuinely 20 years ahead of other developed nations.
Elon Musk with NVIDIA CEO Jensen Huang, Apple CEO Tim Cook, President Trump, Chinese President Xi Jinping, and members of the U.S. delegation in Beijing.
Two official images tell the story.
In Beijing, Trump walks beside Xi on the red carpet.
At the White House, Trump walks Japan’s prime minister Sanae Takaichi in with his hand on her back.
One image says: power beside power.
The other says: submissive imperial mistress.
The camera understood the hierarchy before the politicians admitted it.
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Full Tiananmen Square video shows the Tank Man safely escorted away by pedestrians.
Americans are propagandized into thinking the tank ran right over him