China’s following America’s economic path. It will eventually eat its own like we’ve started doing.

Summary

China is following America's economic path of indebting countries, which may eventually lead to eating its own like America has started doing.

Abstract

The article discusses how China is investing its excess dollars in other countries, gaining goodwill and financial leverage, similar to how America's corporatocracy has been indebting Americans for decades. The author argues that China's capitalism is not much different than America's and that China is getting better with the smoke and mirrors that America has already perfected. The author also criticizes the belief that there is a correlation between capitalism and democracy, stating that China proves capitalism may work best under an autocracy.

Opinions

The author believes that America has been indebting its citizens for decades, and China is now following the same path.
The author argues that China's capitalism is not much different than America's and that China is getting better with the smoke and mirrors that America has already perfected.
The author criticizes the belief that there is a correlation between capitalism and democracy, stating that China proves capitalism may work best under an autocracy.
The author believes that corporations are not inherently benign and that their fiduciary responsibility is solely to the shareholders, not workers, society, or the environment.
The author believes that China's investment in other countries is gaining them goodwill and financial leverage, which may eventually lead to China eating its own like America has started doing.

China has a great teacher

Ironically, the commenter does not understand that the United States does that implicitly. Unfortunately for the United States, we have been blowing so much up with the wars we seem to love. There is little goodwill we are sharing around the world in the process.

China is investing all those excess dollars they made from our corporatocracy selling out the American worker in other countries. They are gaining goodwill and likely financial leverage and with that political leverage.

Interestingly, what the commenter was complaining about China doing to other countries is what our corporatocracy has been doing to Americans for decades now. They invested just the minimum into Americans. Instead of American wages growing with productivity, it was “easy debt” that they gave Americans. And with that, they own many. Whether reverse mortgages, car loans, home loans, and many others, owning people via debt is the new form of owning people.

China’s capitalism is not much different than our own. And they are getting better with the smoke and mirrors we have already perfected.

We have perfected the belief that there is a correlation between capitalism and democracy. China proves capitalism may work best under an autocracy.

But is that different for us? Corporations are neither democratic nor inherently benign. Let’s recall that the most recent god of capitalism, Milton Friedman, made it clear that corporations’ fiduciary responsibility is not to workers, society, environment, etc. but solely to the shareholders.

Today’s corporate executives know how to create the perfect house of smoke and mirrors. When you watch a pharmaceutical ad, it sure seems like that corporation cares about you and your well-being. Well, they do if you are willing to pay an inflated price. Those beautiful women strolling happily in a field after positive results from the medication give you the false impression that the corporation cares. If they did, would the price be orders of magnitude more expensive than the cost of manufacture? Remember, the taxpayer already paid a large portion of the research in many forms.

But I must digress. This article is about China using its capital to indebt others into submission. The operation of our entire economy domestically and internationally provides the template. Given that China spies on all that we do, their citizens and the rest of the world may go from one “benevolent” superpower to the next.

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Originally published at https://egbertowillies.com on February 3, 2022.