• TreadOnMe [none/use name]@hexbear.net
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      7 days ago

      The CPC was so incompetent that they managed to convince their largest geopolitical adversary to fund their reconstruction, deindustrializing themselves in the process.

      Also the Asian financial crisis is what helped devalue labor there to the point that the U.S. wholesale sent entire industries to China. In a market system, it basically foretold future Chinese dominance. These kinds of things are spelled out in concepts such as Alan Geeenspan’s ‘creative destruction’ or the idea of ‘market cycles’.

      Gordon Chang is a hack who doesn’t even read his own neo-liberal peers, or bother to understand the ideology that he is swimming in.