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Robert Barricklow posted an update 4 years, 12 months ago
The fight between China & the USSA is over systems. Specifically, China’s industrial socialism vs the USSA financial capitalism.
Other countries are learning from this Cold War 2.0 w/a lesson of why they should avoid the economic policies of the USSA and it’s rent-seeking absentee owners that only add to the cost of doing business; as well as, the cost of living.
China must prove it can survive in isolation from the unipolar USSA bloc.
But, the cost of living is much better under industrial capitalism of Russia and China.
Like Putin put it, “Who would want to live in a world w/o Russia?”.The article w/footnotes explaining the above synopsis in detail.
http://www.michael-hudson.com/2021/04/americas-neoliberal-financialization-policy-vs-chinas-industrial-socialism/
The Giza Forum (Legacy)
Closed Archive of The Old Forum
Your right; so much about “systems” don’t fit in the 20th century box description.
I’ve read several books on China; and have to say, despite Hudson’s viewpoint, I think they’re a technocratic surveillance authoritarian society w/an industrial capitalism economic base; that’s run by a socialist regime. But even that broad brushstroke doesn’t capture the very complex “Chinese” “systems”.
FiatFux
They’re are 3 recent books that are stellar: 1)We Have Been Harmonized: Life In China’s Surveillance State by Kai Strittmatter; 2) Blockchain Chicken Farm: Tech In China’s Countryside by Xiaowei Wang; and 3) Land of Big Numbers by Te-Ping Chen.
They’re in order of importance.
[in book #1 above, they are now exporting their social credit surveillance system globally].
Free maintenance; if you act now!
I remember hearing interviews of Hudson in the past, and he seemed more grounded in reality than most economists at the time. I suspect that, being a left-leaning academic, he can recognize the excesses of capitalism but gives too much of a free pass to the inevitable failings of socialism. Just a guess.