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Fri Nov 30, 2018, 10:30 PM

G20 Summit, Top Agenda Item: Bye-Bye American Empire

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The problem is that Washington is demanding the impossible. It’s like as if the US wants China to turn the clock back to some imagined former era of robust American capitalism. But it is not in China’s power to do that. The global economy has shifted structurally away from US dominance. The wheels of production and growth are in China’s domain of Eurasia.

For decades, China functioned as a giant market for cheap production of basic consumer goods. Now under President Xi Jinping, the nation is moving to a new phase of development involving sophisticated technologies, high-quality manufacture, and investment.

It’s an economic evolution that the world has seen before, in Europe, the US and now Eurasia. In the decades after the Second World War, up to the 1970s, it was US capitalism that was the undisputed world leader. Combined with its military power, the postwar global order was defined and shaped by Washington. Sometimes misleading called Pax Americana, there was nothing peaceful about the US-led global order. It was more often an order of relative stability purchased by massive acts of violence and repressive regimes under Washington’s tutelage.

In American mythology, it does not have an empire. The US was supposed to be different from the old European colonial powers, leading the rest of the world through its “exceptional” virtues of freedom, democracy and rule of law. In truth, US global dominance relied on the application of ruthless imperial power.

The curious thing about capitalism is it always outgrows its national base. Markets eventually become too small and the search for profits is insatiable. American capital soon found more lucrative opportunities in the emerging market of China. From the 1980s on, US corporations bailed out of America and set up shop in China, exploiting cheap labor and exporting their goods back to increasingly underemployed America consumers. The arrangement was propped up partly because of seemingly endless consumer debt.

That’s not the whole picture of course. China has innovated and developed independently from American capital. It is debatable whether China is an example of state-led capitalism or socialism. The Chinese authorities would claim to subscribe to the latter. In any case, China’s economic development has transformed the entire Eurasian hemisphere. Whether you like it or not, Beijing is the dynamo for the global economy. One indicator is how nations across Asia-Pacific are deferring to China for their future growth.

Washington likes to huff and puff about alleged Chinese expansionism “threatening” US allies in Asia-Pacific. But the reality is that Washington is living in the past of former glory. Trading blocs like the Asia-Pacific Economic Cooperation (APEC) realize their bread is buttered by China, no longer America. Washington’s rhetoric about “standing up to China” is just that – empty rhetoric. It doesn’t mean much to countries led by their interests of economic development and the benefits of Chinese investment.

https://www.zerohedge.com/news/2018-11-30/g20-summit-top-agenda-item-bye-bye-american-empire

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Reply G20 Summit, Top Agenda Item: Bye-Bye American Empire (Original post)
Troll2 Nov 30 OP
Da Mannn Nov 30 #1
OneLoudVoice Dec 2 #6
freedumb2003 Nov 30 #2
JaimeBondoJr Nov 30 #3
MumblyPeg Nov 30 #4
Charlie Mike Dec 1 #5

Response to Troll2 (Original post)

Fri Nov 30, 2018, 10:44 PM

1. zerohenge. Lefty source. Lefty propaganda. Lefty crap.

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Response to Da Mannn (Reply #1)

Sun Dec 2, 2018, 04:39 AM

6. LMAO. This ones yours

Righty source, righty propaganda, righty crap.

I mean, technically Russian propaganda. But they own y'all, so same diff.

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Response to Troll2 (Original post)

Fri Nov 30, 2018, 10:55 PM

2. orange man bad!

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Response to Troll2 (Original post)

Fri Nov 30, 2018, 11:01 PM

3. China - 4 times the population of the United States... but produces a third less.

Fuck China.

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Response to Troll2 (Original post)

Fri Nov 30, 2018, 11:20 PM

4. watch lefty cheer... even if the imaginary doom is, well.. imaginary.

the tone is sickening. Lefty hates America, and we all wish he's just leave already

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Response to MumblyPeg (Reply #4)

Sat Dec 1, 2018, 10:13 AM

5. The people who want us to support their leeching asses also want us economically ruined.

NPCs are not capable of forward thinking.

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