That just means most of the gains in the Chinese economy did not go to the owners of capital. As opposed to the US, where GDP growth averaged 2~3% per year while the stock market grew much faster.
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Miscellaneous News
- Thread starter bd popeye
- Start date
This sums up well the current tectonic shift in the banking world.
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By
MARCH 25, 2023
[My Comment]
The current US/China dance is not about Taiwan or South China Sea. They are just domains or theaters in the grand scheme of world affairs. I bet elites in DC certainly know what David Goldman wrote in this article. Just like in every day life, people choose their own ways of doing things. Dollar is the symbol of Pax Americana.
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US bank trouble heralds end of dollar reserve system
Bank crisis not a credit quality problem but stems instead from now-impossible task of financing America’s ever-expanding foreign debtBy
MARCH 25, 2023
[My Comment]
The current US/China dance is not about Taiwan or South China Sea. They are just domains or theaters in the grand scheme of world affairs. I bet elites in DC certainly know what David Goldman wrote in this article. Just like in every day life, people choose their own ways of doing things. Dollar is the symbol of Pax Americana.
plawolf
Lieutenant General
Let’s not be naive in thinking the US would ever welcome China’s rise or be BFFs. Short of an alien invasion, the two will always be rivals to a certain extent.
The key difference is that all US administrations prior to Trump broadly played by the ‘rules’. Sure, there were incidents where they stepped well beyond the line, such as the Chinese embassy bombing, but those were the exceptions rather than the rule.
The past administrations were logical, somewhat consistent, and didn’t break the rules too overtly or frequently, which made them predictable, and that ultimately that made China believe they could reason and work with them.
Trump was the first to fundamentally change that expectation by blatantly and consistently breaking rules and acting irresponsibly and irrationally. That is the cardinal rule that was broken, not that he was anti-China.
China expects every US administration to be anti-China, but so long as they are reasonable and logical and consistent, then that was something China could work with. But an unpredictable, unreasonable and irresponsible US hell bent on doing anything and everything possible to damage China even if that damaged the US more? That’s essentially the world’s most dangerous mad dog. Before Biden, China hoped it was just Trump that was mad, but Biden showed the entire US establishment was equally rabid. So now China is doing the only thing you can with a mad dog.
Yeah, I agree.
Even two months ago, I would have some reservations about that, how fast such developments could proceed. But after that Saudi Arabia Iran peace deal broker by China, for two weeks I did not even know what to think. Even today, because that could be a small move or a game changer. Today, it is looking like more of a game changer than anything.
USA caught on the sidelines again. The countries moving events in the world, Russia with their war, and China with their diplomacy.
While the entire West is busy with Russia, its friend China develops inside pole position, like everywhere.
Two months, we could see it developing. Two months later, and we really have to wonder how and what the West can do to make a comeback?
For example, how can the United States reassert their dominance or influence in the Middle East? Having a few bases there probably just does not cut it now, given how the plans are in place for each country to put their economies into overdrive based on Chinese trade and Chinese tech.
Wasn't all this America desire for control was to ensure the money flowed one way, back to America? What now, eh?
Yeah, agree exactly with what you are saying, your post is really good.
That was one reason I always though Xi was going to be around for a while. The Chinese side suspected that the American would make a move militarily against it, so stability in the leadership was of paramount importance.
Xi Jinping is a very good leader.
What you say here is really interesting, because so much can still change at this point.
That war in Ukraine with Russia, how that turns out will definitely be a game changer. How people react to that, is unknown.
If China deepens its economic ties with everyone in the global south, which it has been doing, that kind of leaves the West on the outside looking in on that, while their economies face stagnation.
Then we have to see if the West can hold itself together.
Xi visits Putin, and the West is actually talking about it. Wonder how the Americans will feel when that line of European heads of state visit Xi in China, heh?!
Insolent Russophobic Poland, only wondering where to beg and embezzle money from.
Furthermore, Poland wants to increase the fund (of course with foreign money) from which the EU finances weapons for Ukraine, several countries are against:
Moreover, Poland continues to criticize and antagonize Germany:
Furthermore, Poland wants to increase the fund (of course with foreign money) from which the EU finances weapons for Ukraine, several countries are against:
Moreover, Poland continues to criticize and antagonize Germany:
Yes, agree completely with what you are saying.
This is an very important article written by Goldman, everyone should it and understand it.
I just bring up one point, that we can deduct, but he does not mention directly.
He hints at it, but we should all know what he means.
The US dollar could go down in value. The US dollar will remain the world's reverse currency, but it could go down in value.
Ask the question in another way.
Why does the USD being the world's reserve currency important to the Americans?
Because it keeps the value of the USD high.
We probably are going into a world were the USD remains the reverse currency, but still suffers a significant depreciation over time.
A lower currency value means that country is poorer.
Oh crap we are turning into Jai Hind land. Next thing you know there will be caste discrimination…
the 2010s saw the rise of populism in the West again. The reason has to do with economics of course. Social media also literally brought politics to people's houses in real time. The result is we have politicians who are trying to win the popularity contest called elections by pandering to people's ideological biases and primal instincts. "Being tough on xxxxx" politics is a part of it.
It's really funny.
Those politicians, all lawyers, think of the CEO to TikTok, as some dumb immigrant who does not know the laws in America.
Those lawyers think they can trick TikTok into selling, thereby America will control all the social media of the world.
Well guess what? The joke is on them, because that TikTok CEO is not some dumb Chinese immigrant, he's Singaporean.
And as we all know, Singapore is a Chinese city, in China, China, China, Chyna!
They are forcing Singapore into a
Stupid of Taiwan to not take up on Deng Xiaoping’s offer. Instead of becoming a third eye in the upcoming Sino-Alliance, they’ll end up being the butthole.
