After Congress passed $52 billion CHIPS subsidy:
-Micron, which had said it would invest $40b in the U.S. this decade, announced it will cut capital spending
-Intel cut its capital spending plans by $4b, but predicts a “growing dividend” for shareholders
Indeed. But there was no market for European goods in Asia in the 17th and 18th century. But then colonialism happened.
The US military, certain agencies and the World Bank/IMF are going to be very busy next few years, creating markets for US goods.
Quit living in the past
This is a huge problem with the left. People still think it's the 70s.
China is there. They are everywhere building actual good will. Usa has raped and pillaged the world to make markets in the usa and Europe. Europe is fucked.
What market are they going to open? India? To sell what Indian made goods back to India?
It's not living in the past. It's looking at the past to learn the Imperialist modus operandi.
We know China will out produce the west and that's the reason for the desperate attempts at slowing China down. They tried to isolate China with the whole Xinjiang issue but it didn't work. Now it's provocations over Taiwan to start a war and try to break any China-global south cooperation through sanctions and bog down China in wars. If Taiwan is merged with the PRC, the next conflict will be in Korea. If that doesn't work, then South Asia and so on. There is a huge goodwill for China in Pakistan among the people and it did not stop essentially a coup this year. If needed, there will be a lot of coups to remove Pro China governments around the rest of the global South.
I am not sure what point you are trying to make with regards to India. They have already successfully "opened" up India since the 90s and Modi and Co. will happily privatize whatever remains and will be used as a cudgel against China if needed.
As long as the influence of the the aforementioned US groups remains, we are not going to see lasting peace.
We are living in a dying empire that is my point. My point is all the markets have been exploited. You seem to be talking more about imperial political power. I'm strictly talking goods and capitalist based markets. We are in the death spiral of squeezed labor.
There is nothing left to exploit . The powers aligning with the usa right now are either going down with the ship or will bail. Momentum is on chinas side.
I think people really think this is going to take decades and decades to unwind. Nothing moves that slow anymore. Each year and each election America will unwind more and more till something in the core snaps.
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We have not even begun to see the toll COVID is going to have. Huge swaths of the labor force is sidelined.
where can I read more about this
I don't have any book since my source is living through it and studying it as a teenager. But in the late 1980s with the collapse of the Eastern bloc and Soviet union as the trading partner and a source of aid, the Indian economy was in shambles and as a condition for aid/bailout, the IMF forced India to remove a lot of import restrictions, economic "liberalization" in the form of privatizations as well as reduction in regulations. Look up economic liberalization in India in the early 90s.
why didn't something similar happen to China?
Because China was much less reliant on the USSR by the late 1980s having had a decade of foreign investment as well as the Sino-Soviet split which meant that trade between them was much less.
Another factor worth noting is the difference in the Indian and Chinese governments from 1950 to the early 1980s. Even though GDP wise, India and China were in a similar situation in the early 80s, structurally China was far ahead, with much higher literacy, better healthcare, less infant mortality due to the CPC being a lot more effective at making structural changes and improvements and spending a lot lot more on improving these indices. This meant that when the markets were opened in China, they had a much larger educated labour force capable of taking advantage.
On top of that Mao had eliminated the landlord class, while in India, the landlords as well as the oligarchic families continued to hold power. A huge number of Indian politicians dominating Indian politics today are dynasts and scions of wealthy families in the past.