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0 sats \ 0 replies \ @Solomonsatoshi 4h \ on: Delinquencies Mount as the American Consumer Runs Out of Money econ
Meanwhile China has come to dominate global manufacturing and supply chains.
Chinas strategy is built upon a combination of state directed provision of the inputs to production (such as electricity supply, skilled labour, transportation etc) and private enterprise.
The Chinese government provide enterprise with low cost inputs and this enables them to be the most competitive value added economy in the world.
Meanwhile the neoliberalised west has forgotten how to make things instead drunk upon the false wealth of financialisation.
The west is now so far behind that its legacy hegemony built up over 500 years is crumbling.
The west can be paralysed by China if China ceases supply of any of many basic inputs required to sustain the wests already much depleted ability to build things.
Without rare earths the US military monetary combine cannot fight a war.
The USA has taken decades to build one new nuclear power station, while China using the same blueprint, but improved, can build dozens of new nuclear power stations for a fraction of the cost and in a fraction of the time.
With electricity supply growth now vital to powering the data centres required for AI China once again is poised to beat the west in this final race to gain global economic supremacy.
The deluded neoliberal Libertarian west thought free markets are all you need when in reality all empires have been built upon a synergy of government strategy and private enterprise initiative.
China has the mix about right and is swiftly gaining dominance over the tired, corrupt and entitled west.