If we lost a trade war, how long would it take us to find out? The vitality and flexibility of our financial system has obscured the degree to which we are living in the aftermath of a Chinese trade war victory—one in which the PRC not merely succeeded in subjecting the developed countries to trade…
It's painful to see the article lay out the pieces but leave the puzzle unfinished like this. The PRC's leadership would have no desire to upend the existing international order if this "order" wasn't so intent on choking off any attempt at Communism.
The fact that the ideal wall street company is one with endlessly scalable profits but no capital assets is merely a confirmation of the labor theory of value. It means that capitalism is fundamentally incapable of maintaining or growing production beyond narrow horizons, except in the circumstance of genocide/prinitive accumulation, which the article unironically posits as a solution by invoking the settlement of the western United States.
I guess this is just the limit of how far a liberal can go, no matter how materialist their analysis is.
It's painful to see the article lay out the pieces but leave the puzzle unfinished like this. The PRC's leadership would have no desire to upend the existing international order if this "order" wasn't so intent on choking off any attempt at Communism.
The fact that the ideal wall street company is one with endlessly scalable profits but no capital assets is merely a confirmation of the labor theory of value. It means that capitalism is fundamentally incapable of maintaining or growing production beyond narrow horizons, except in the circumstance of genocide/prinitive accumulation, which the article unironically posits as a solution by invoking the settlement of the western United States.
I guess this is just the limit of how far a liberal can go, no matter how materialist their analysis is.