U.S. Cuts Itself Off From Future Chinese Profits
Yesterday Secretary of the Treasury Janet L. Yellen gave a speech on the U.S.-China economic relationship. It's a bit like a declaration of war:
Our economic approach to China has three principal objectives.First, we will secure our national security interests and those of our allies and partners, and we will protect human rights. We will clearly communicate to the PRC our concerns about its behavior. And we will not hesitate to defend our vital interests. Even as our targeted actions may have economic impacts, they are motivated solely by our concerns about our security and values. Our goal is not to use these tools to gain competitive economic advantage.
Second, we seek a healthy economic relationship with China: one that fosters growth and innovation in both countries. A growing China that plays by international rules is good for the United States and the world. Both countries can benefit from healthy competition in the economic sphere. But healthy economic competition – where both sides benefit – is only sustainable if that competition is fair. We will continue to partner with our allies to respond to China’s unfair economic practices. And we will continue to make critical investments at home – while engaging with the world to advance our vision for an open, fair, and rules-based global economic order.
Third, we seek cooperation on the urgent global challenges of our day. Since last year’s meeting between Presidents Biden and Xi, both countries have agreed to enhance communication around the macroeconomy and cooperation on issues like climate and debt distress. But more needs to be done. We call on China to follow through on its promise to work with us on these issues – not as a favor to us, but out of our joint duty and obligation to the world. Tackling these issues together will also advance the national interests of both of our countries.
To use undefined "values", undefined "vital interests" and undefined "international rules" always make for a sorry excuse for mischief. To claim "unfair economic practices" in China when it is the U.S. that is breaking its own rules left and right is embarrassing. As Edward Luce writes In today's Financial Times:
Today’s US cannot make trade deals, cannot negotiate global digital rules, cannot abide by WTO rulings and cannot support Bretton Woods reforms. [So] how can China be squeezed into a US-led order in which America itself has stopped believing?
One can of course forget about the third point when the first and second are made. There will be no cooperation when the other points create a hostile confrontation.
Yellen then discusses the three points in more detail. Under 'National Security' she says:
We also carefully review foreign investments in the United States for national security risks and take necessary actions to address any such risks. And we are considering a program to restrict certain U.S. outbound investments in specific sensitive technologies with significant national security implications.
How is prohibiting U.S. investment in China helping with national security? The U.S. has other tools to prevent Lockheed Martin from building new missiles in China. So what investments are envisioned here?
Two days ago Politico had a preview of the program:
Unprecedented rules limiting American investments in China are expected later this month — and the administration has begun briefing industry groups like the Chamber of Commerce on the broad outlines of the executive order, which is expected to require companies to notify the government of new investments in Chinese tech firms and prohibit some deals in critical sectors like microchips.
...
Since the Trump administration, national security lawmakers and Cabinet officials have sought to craft new rules to oversee — and potentially block — U.S. investments in Chinese tech sectors. The goal is to prevent American firms from funding or developing tech that can later be used by the Chinese military.
But that is only a sorry excuse. This is an escalation in the economic war against China. As Politico continues:
Those moves would come on the heels of aggressive trade action last year, when the administration put in place new export rules that explicitly sought to undermine Beijing’s prized microchip sector and passed massive industrial policies aimed at breaking reliance on the Chinese economy. At the time, national security adviser Jake Sullivan was clear that the goal of the strategy was to preserve America’s competitive edge in emerging high-tech industries, even if Washington does not pursue a broader decoupling.“We must maintain as large of a lead as possible” in high tech sectors like microchips, Sullivan said, previewing new Commerce Department rules released in October that sought to grind Chinese chip development to a halt.
This has nothing to do with national security but with suppressing economic competition.
The new rule prohibiting U.S. investments in China will apply to three large sectors:
While policymakers last year considered including up to five major Chinese industries — microchips, artificial intelligence, quantum computing, biotechnology and clean energy — in the order, the biotech and clean energy sectors are now likely to be left out of the program.
To prohibit U.S. investments in those three sectors is still silly.
China does not lack investment money. Its capital account balance is positive and China is investing more abroad than foreigners invest in China. In the last quarter of 2022:
- Foreign Direct Investment (FDI) increased by 27.7 USD bn in Dec 2022.
- China Direct Investment Abroad expanded by 44.2 USD bn in Dec 2022.
China also does not lack know how. It is researching and developing at a high level in all the same sectors where the U.S. is doing it.
Prohibiting U.S. investments in new Chinese chip factories or AI models will only hurt U.S. industries. In earlier decades foreign companies which develop stuff that was of interest for large U.S. companies were bought by U.S. investors. Their knowledge and/or production was replicated in the U.S. or they continued running as before but with their profits flowing into U.S. pockets.
China is the most dynamically developing society. There is a high likelihood that it will find and develop new things before the U.S. will do so. But instead of riding that wave and investing in it the U.S. will prohibit itself from profiting from it.
The Biden administration new rules will cut off U.S. investors from China's future revenue stream.
Posted by b on April 21, 2023 at 17:22 UTC | Permalink
next page »Hear FM Qin Gang reaffirm on history of China's Taiwan and the status quo at Lanting Forum
Posted by: LightYearsFromHome | Apr 21 2023 17:35 utc | 3
Hear FM Qin Gang reaffirm on history of China's Taiwan and the status quo at Lanting Forum
Posted by: LightYearsFromHome | Apr 21 2023 17:35 utc | 4
Oh goodness, is the US government worried about capital flight all of a sudden?
Is this a way to implement capital controls without admitting it?
Posted by: Bemildred | Apr 21 2023 17:39 utc | 5
Great posting b, thanks
I choked on the line
Our goal is not to use these tools to gain competitive economic advantage.
it should have read
Our goal is not to use these tools to maintain competitive economic advantage.
And the repetition of the Rules Based Order meme that none support over Law Based Order...GACK!
Empire is operating on delusion now, IMO The delusion is that they can stop China and Russia from developing a multi-polar world and take the financial bully empire down without primarily resorting to military Might-Makes-Right behavior.
Posted by: psychohistorian | Apr 21 2023 17:44 utc | 6
The one ability China and Russia have and the US and Europe don't is to innovate extremely fast.
Yes, sanctions are a set-back. For a few years. After that, China and Russia have developed their own tech, their own industries at least level with ours. And much better soon after.
As Thomas Friedman put it a few years ago: our kids want to become Britney Spears when they grow up, and get rich quick. Russian Kids want to become Aerospace engineers and get sold jobs. Back then, US companies would outsource building airplane parts to Russia, providing good jobs to Russian engineers.
So we got a generation of wannabe Stars, and Russia got a generation of engineers.(China git a generation of scientists, the guys producing too science at US universities as PhD candidates and post docs. Before going back to China to build Chinas Tech industry.
We are not just losing revenue by export restrictions.We are kick-starting the Chinese tech Industry.
Posted by: Marvin | Apr 21 2023 17:47 utc | 7
Perhaps what one of the main goals here as to purposefully isolate the western economy from the rest of the globe. This will enable more control for the cosmopolitan elites through their CBDC ventures, within their decaying sandbox. By isolating economies, no one in the west can do any business with the "non-rules based world" without going through the elites and hence, more controllable.
If one looks what the EU is doing, everything does kind of indicate that's what's going on. Coupled with the catastrophic policies in domestic supply of stuff, the end result is catastrophic.
Posted by: unimperator | Apr 21 2023 17:53 utc | 8
yellen is performing mind fornication
with no happy ending
Posted by: Dingo | Apr 21 2023 17:56 utc | 9
Time to live up to my moniker and predict doom :)
Today's Western elites are so blinded by privilege, so sheltered from reality and the consequences of their terrible decisions, these people are such corrupt liars so obviously driven by unthinking ideology and incapable of original thought, our leaders are such cringe-worthy cretins so clearly placed in their positions through sheer nepotism alone, that it's hard to see how the West survives the next 10-20 years.
A situation where Rest of World (ROW), led by China, Russia, the main Islamic powers, and perhaps India and the Latin and African countries actually throw a reverse sanctions boycott around the West is not impossible. Call it the Inverted Iron Curtain, the Cultural Quarantine Zone, or the Mirror of Truth. It can be done. Western military hegemony is gone. Economic hegemony is falling. Next you go after cultural hegemony -- ban Western internet, Western media, Western education, Western politicians, Western lies.
Maybe Hungary, Japan, a few others throw off their chains at that moment and join the ROW. What's left of the West then shuts itself down into a dystopian Woke police state that commits horrors for a few years before collapsing altogether and being overrun by its rivals or liberated by the armies of a horrified world.
Posted by: kassandra | Apr 21 2023 18:02 utc | 10
1. The U.S. Horse (Industrial Might) got out of the barn at least 2 decades ago, when U.S. Politicians and the U.S. Chamber of Chinese Commerce opened the door.
2. China captured the horse, jealously maintains it and is never sending the horse back.
3. The Barn has burned down from the Financialization of the U.S. Paper Mache economy.
4. and now the Deed to the Property has been demanded by Foreign Creditors who don't want more rotten hay (USD) for payment.
Empires have died before, usually with Buffoons for Leaders, but seldom with such Public Humiliation, such infantile machinations.
Posted by: kupkee | Apr 21 2023 18:11 utc | 11
Oh goodness, is the US government worried about capital flight all of a sudden? Is this a way to implement capital controls without admitting it?
Posted by: Bemildred | Apr 21 2023 17:39 utc | 5
Great insight - agreed it’s trying to prevent capital flight. Result ? Further increase in pace of De-Dollarization
Posted by: Exile | Apr 21 2023 18:12 utc | 12
Thanks b. You have a strong stomach to shovel through all the stuff she puts out, and to polish up some of the more significant turds for our edification.
Posted by: c | Apr 21 2023 18:16 utc | 13
Great insight - agreed it’s trying to prevent capital flight. Result ? Further increase in pace of De-Dollarization
Posted by: Exile | Apr 21 2023 18:12 utc | 12
It's too late, they need to go with it. Reform now, or it just gets worse until you do.
Grabbing that $300B in Russian foreign reserves was the sort of short-sighted stupid thing one expects from our current government of short-sighted, uneducated crooks.
Thank you for your comment.
Posted by: Bemildred | Apr 21 2023 18:19 utc | 14
Thank you b.
One word: 'The Wolfowitz doctrine'.
It works no more does it? Failed abysmally.
The reality is very stark, the greedy have eaten all and now are like snake eating their own tail, or are they really:
https://www.youtube.com/watch?v=WT03Yi9mxXE
But when I think better, entering the Industry4 of the evil Davos crowd, we the plebs are not needed anymore.
America is the victim as we all are.
Everyday I witness deterioration of our relationship with the state, here in South Eu. They do not do what we pay them for. The politics has became murderous weapon against us the people. And to think that we feed them and pay them.
It is disaster upon us.
Posted by: stranger | Apr 21 2023 18:22 utc | 15
IMO, what's going on is an economic revolution. Michael Hudson does a wonderful job of explaining this. However, he is a like a quiet college professor. If Lenin or Trotsky were decribing a revolution, the words might be more fiery. Revolutions don't happen overnight, but they do follow a pattern. A competing economic world order will run into resistance from the conservative "reactionary" forces (counter -revolution)_ What's interesting is that the 'manufacturing countries' and those under some sort of econmic imperialism are coalescing into an association against the fianancial dominating West. The US competees against China or it struggles to contain Russia individually, but what's happening is that the US is going to come up against a against a very large 'blob' that is now materializing and coalescing. Obviously, peaceful co-existance is a desireable objective, but it sure seems likely that the US will wear itself out, one way or the other, against superior numbers. Time will tell, but trajectories leave contrails.
Posted by: TMartin | Apr 21 2023 18:45 utc | 16
"First, we will secure our national security interests and those of our allies and partners, and we will protect human rights."
Two issues not one.
Posted by: ISL | Apr 21 2023 18:47 utc | 17
Conspiracy theory time: Was SARS COV-2 / COVID-19 the Trump administration's attempt to destroy the Chinese economy?
Posted by: Tom_Q_Collins | Apr 21 2023 18:48 utc | 18
Biden and his "junior high mafia" are destined to bring Sleepy Joe the title of the worse president in U.S. history the way things are shaping up. The military and diplomatic corp looks inept, incompetent, weak, and disoriented. The level of authoritarianism exerted via weaponization of judicial system and the overt attack's on free speech and free thought are exemplified by the outright loonie tunes regarding the transgender issue. Social fabric is being torn asunder. The economy is heading towards prolonged stagflation not only as job losses mount, wealth disparity increases, but this is occurring in the midst of global de-dollarization accelerating at a feverish pace.
The embarrassment and loss of confidence arising from a lost proxy war in Ukraine will add additional pressures both domestic and foreign and ratchet up the unraveling of the hegemon. NATO may become the an anachronism. Why did the Saudi's pivot? Because they don't believe the US military is stronger than that of Russia. Much of the world can see the hand-writing on the wall as a dying empire slumbers along. Biden will preside over the most momentous and precipitous decline in US living standards, military might, and global economic competitiveness in US history. Even more the damage will be irreparable. American lacks the critical thinking skills and the statesmanship to course correct. The WWE aka Congress will continue to toil in banalities and foolishness. Morons in power in the US only know how to double and triple down.
Posted by: Tom_Q_Collins | Apr 21 2023 18:48 utc | 18
Covid like Ukraine was a Government Project long before the Trump Administration.
Posted by: SwissArmyMan | Apr 21 2023 19:04 utc | 21
One effect we'll see for generations is the lack of investment in raw education in the US. Even those who get a university degree have indoctrination enmeshed which drastically reduces true creative thought. There are major signs of societal decay which will mean a lack of leadership in almost all technologies within the next 10 years.
Posted by: Matthew | Apr 21 2023 19:06 utc | 22
Posted by: LightYearsFromHome | Apr 21 2023 17:35 utc | 3:
Thank you for providing the Lanting Forum link. Yes, the new Foreign Minister of China said quite a lot at the forum in Shanghai this time, not just on China/Taiwan issues but candidately on what China thinks of the Empire's intended hegemony over the RoW.
The salient point Qin Gang made was that: the West has attained modernization some 100 years ago. having reached that state, they have decided that anyone else who aren't Anglo-Saxon/European White/or western cronies would not be allowed to modernize similarly, let alone to exceed the western acchievements. To enforce that doctrine, the West has pursued a policy of divide and conguer, economic enstranglements, and outright wars and genocides against anyone showing potentiality of being a rival. It was USSR in the 50's. It is now China in the 21st Century. They use media brainwashing to prepare their populations psychologically for large scale warfare; they use lies and made-up accusations to demonize their targets; they use deeds of Satan to kill/destroy/breakup/terrorize their target nations. The key point: "We have reached this point of modernization; we will not allow you to reach this same point. Your effort to reach this is a threat to us."
b cited Yellen's three principle objectives:
1) Our national security. What exactly constitute that security? I'll tell you what: It is security in our eyes of every f**king corners of the world. It's our back yard, the whole damn stretch of Atlantic; it is all of Mediterranean, of Baltic Sea, of Artic Sea, of North Pacific/Korean/Japan Seas, of SCS, of East and West Pacifics, and of course every f**king inch of the South Pacific and Indian Oceans. Anything in these areas we don't like, we'll make excuses to fight you, destroy you, f**k you. We have been doing that up to the present, and we mean to continue.
2) Healthy economic relationship with China means we decide what China can produce, can sell to us at prices we dictate, and be paid by our dollars to purchase our debts. The so-called International Rules are our Rules, enforced by lawyers appointed by us at UN or Brussel, world court at Hague, or anything institutions within the Beltway in Washington.
3) Cooperation means we dictate, you obey. That's the way it has been since you know when, on what currency to use for trade, on oil prices, on emission standards, on what to trade/what not to trade, on who to trade with/who not to trade with. We, and we alone, decide what is in our interest, and what are in your interests. Any deviations from that mandate, you'll hear from our MSM and be damned rhetorically, as well physically through military means. We're sure by now everybody knows about Color Revolutions, and such, or Wars On Terrorism, LOL-LOL-LOL!!!!
Yeah, Ole Yellen delivered those messages elegantly (albeit obliquely) in her speech, which was meant to demand China to speed up with their invitation to her visit to Beijing, in grander style than what Macron received. I think she's gonna have a LONG WAIT!
Posted by: Oriental Voice | Apr 21 2023 19:17 utc | 23
@Marvin, #7:
The one ability China and Russia have and the US and Europe don't is to innovate extremely fast.
Innovating fast requires technical talents. That is the ingredient the West is now lacking, without themselves knowing or admitting so. I am saying the West, not just within the West Atlantic side.
Posted by: Oriental Voice | Apr 21 2023 19:22 utc | 24
Advanced technology resources are one of the only reasons PRC trades with US despite constantly raising their debt ceilling. These "restrictions" a fancy word for sactions against PRC will be met with severe reaction, which will either result in disasterous effects on US economy or "quiet" retraction to the regular situation where resources flow to PRC and russian proxy companies, which the PRC actively supports.
The US is aware that there are middle Russian companies registered in PRC. These companies buy electronics which end up in the russian military in ukraine. The US does not want to publicly admit that their own electronics still end up in russian military weapons because their economy is not so omnipotent and their motivation is not so "united" as western propaganda presents, so they make the awkward excuse that the main purpose of the restrictions is "against the military of China."
Posted by: A200 | Apr 21 2023 19:27 utc | 25
Everyone remembers how “Bloody” Gina Haspel told Trump about dead kids and ducks killed by Novichok in the Skripal farce? That’s proof Trump was not in the loop on that operation. The same is true with respect to the US bio attacks on China, and very likely true about the assassination of Gen Soleimani as well. The misnamed “intelligence community” never trusted Trump or brought him onboard with their various scheming and dirty deeds.
Trump was a problem for the “intelligence community” to manage, not one of their assets like Obama or the Bushes. It is important to keep this in mind otherwise the four year pause in the Empire’s war-making is difficult to explain.
Posted by: William Gruff | Apr 21 2023 19:42 utc | 26
Everything that is happening is part of a greater plan by the real rulers of this world. Not our political leaders, the people who own them. The illuminati. Rothschilds, Rockefellers etc. They're behind everything. What's currently happening is that they're trying to make the West look like the bad guys, and the East the good guys. That way, after World War 3 (which the East is supposed to win) people will happily go along with a world government, and global communism. Russia and China are both pretty communist-friendly, aren't they? After the evil western capitalists have been beaten, people (I guess they hope even in the West) will accept communism, goes their thinking. Bad Capitalist West vs. Good Communist East. Easy choice, right?
Here's a conspiracy theory for you: https://www.henrymakow.com/2019/04/The-NWO-Will-Arise-From-the-East.html?_ga=2.240048131.1258959081.1656585956-712031134.1656585956
Posted by: just somebody | Apr 21 2023 19:42 utc | 27
Goldman Sachs just raised its China targets for 2023 and is forecasting 6% GDP growth which means that this could be a $2 trillion growth year for China – that’s already the 2nd time GS raised its forecast this year.
Industrial output is up 3.9%, retail sales up 10.6%, fixed asset investment up 5.1%…
https://www.cnbc.com/video/2023/04/18/chinas-economy-is-uneven-goldman-sachs.html
Bloomberg is reporting „Bullish Sentiment Builds in China“, another analyst says „EQUITY MARKET REFORMS ARE MAKING CHINA MORE 'INVESTIBLE'“ and „We think there is more upside to come“ etc.
That’s the reason why Yelly & friends are freaking out…
Posted by: Zet | Apr 21 2023 19:42 utc | 28
@kupkee, #11:
The US policy of outsourcing manufacturing was not the determinant factor of China's development. It did facilitate it and sped it up to surprising degree though.
The determinant factor of China's development was laid in the early 50's, under USSR tutorage. But the main factor that created the miracle that is today was China's own determination to develop, out of survival necessity, pride, and shame of the recent past.
At China's leadership level, they are quite grateful to the industrial foundation laid with the help of USSR from 1951 through 1957.
Posted by: Oriental Voice | Apr 21 2023 19:43 utc | 29
Can countries receive the Darwin award?
Posted by: Immaculate deception | Apr 21 2023 19:44 utc | 30
@Matthew, #22:
If by investment you meant "spending" money, I bet you it will continue. But if you meant "doing the necessary things to really improve education", you're right, the money spent will only grease the hands of "interested" parties and would not do a thing to improve the quality of our graduates.
Posted by: Oriental Voice | Apr 21 2023 19:50 utc | 31
William Gruff@26
Obama, or the Bushes, or Clinton: the CIA have been vetting and promoting their candidates for a long time. And not just in the USA, in fact, least of all in the USA.
just somebody@27
Utter nonsense, a real waste of a brain to fill ot with this sort of reactionary and racist special pleading.
Posted by: bevin | Apr 21 2023 19:51 utc | 32
This politico author Gavin Dade is nearly as demented as Biden. While China's Q1 economic data surpassed expectations in all sectors, foreign trade booming albeit not so much toward the old world of G7, he babbles about Chinese economy being (like the US) on the brink of recession. That is a "senior reporter", ridiculous.
Posted by: aquadraht | Apr 21 2023 19:52 utc | 33
The US Congress won't even accept that China exists. This is a long-standing prejudice against China, including the Chinese Exclusion Act 0f 1882.
. . .recently from the web on the US House of Representatives{sic]
"The Select Committee on the Chinese Communist Party is committed to working on a bipartisan basis to build consensus on the threat posed by the Chinese Communist Party and develop a plan of action to defend the American people, our economy, and our values." . .here
.. .and
February 28, 2023 Press Release
WASHINGTON, D.C.-- Today, the Select Committee on the Chinese Communist Party will hold its first hearing, titled "The Chinese Communist Party's Threat to America". . .here
Posted by: Don Bacon | Apr 21 2023 19:57 utc | 34
Posted by: William Gruff | Apr 21 2023 19:42 utc | 26
LOL. https://www.youtube.com/watch?v=MNpvlS0LR0Y
Come on, Gruff. What will you be telling us next in defense of Trump, while at the same time accusing anyone who criticizes him of having TDS (which is a real thing)? That Trump wasn't clued in on the relocation of the embassy to Jerusalem or that he had no knowledge or opinion on indicting Julian Assange because Obama had failed to do so?
Posted by: Tom_Q_Collins | Apr 21 2023 20:10 utc | 35
Posted by: SwissArmyMan | Apr 21 2023 19:04 utc | 21
When was it initiated? There is no doubt that Ukraine has been a project for a long time, as has the destruction of China, but after which year's Military Games was the "Kung Flu" set loose in China?
Posted by: Tom_Q_Collins | Apr 21 2023 20:11 utc | 36
bevin @32:
Trump was vetted to take a dive in the elections so a candidate with operational knowledge of the Empire’s dark deeds would be guaranteed to sit in the Oval Office. Trump was NOT vetted as a potential victor in the elections. That outcome was beyond unimaginable to the Establishment, which is why they went insane.
Posted by: William Gruff | Apr 21 2023 20:15 utc | 37
From @Marvin #7 and others, ability "to innovate extremely fast". This is interesting. Much of what the US has now is based on the quality of its educational system in the first half of the 20thC. There was a wave of technical genius including people like Claude Shannon at Bell Labs in the 50s who developed information theory. The US went from developing commercial aviation to computational systems and mass data software including applied genetics, but then what? There was no new generation of radical creativity. The last gasp was PARC-related, which was cute but not profound. Educational quality tanked and became increasingly limited in scope. The ability to innovate was lost in a welter of corporate IP ownership and income inequality.
But that combination of qualities - a manufacturing base, resources, technical/scientific education and encouragement to innovate - was what gave the US its advantage, including its military advantage. It cannot innovate as fast as China or even Russia because it has stopped being the mammal among dinosaurs and become a dinosaur among mamals. And I suspect the ability to adapt is the key criterion.
Posted by: Tom Paine | Apr 21 2023 20:20 utc | 38
@36:
The assassination of Soleimani was presented to Trump as an established fact. Of course he will try to profit from it, even though he had nothing to do with it. He’s a capitalist oligarch after all.
Problem is that liberals cannot handle that Trump, as bad as he is, is still a better human being than they are. It drives them crazy... literally.
Posted by: William Gruff | Apr 21 2023 20:22 utc | 39
I’ll give a couple of examples of how well the US Empire is maintaining its intellectual, economic & industrial advantage over China & Russia….
It now relies on a guy who is a frontman for a large social media platform & an electronic car business to run its space program.
The other day his space division launched another “yuuuge” rocket, which failed once again spectacularly. Probably, IMVVHO due to one crucial oversight:
When NASA developed the SATURN program they realised that the massive jet efflux created by the first stage rocket motors on the launch pad needed to be carefully diverted away from the base of the SATURN vehicle to prevent damage to both the rocket motors, the rest of the SATURN vehicle itself & the re-usable launch pad & tower.
Hundreds of thousands of tonnes of concrete were used to create huge deep trenches to divert the rocket motor efflux & thousands of gallons of water a second were pumped into these trenches to keep the temperatures to an acceptable level. This was an engineering marvel in itself - all designed before the microchip by men with slide rules & pencils.
One simple look at the damage caused to the launch pad after the recent launch probably provides the reasons why several of the many rocket motors did not function.
They just created a simple reinforced concrete tripod & plonked it on the dirt.
The mark of a technologically advanced nation is its ability to launch humans into earth orbit with alarming regularity, occupying an orbiting space station & recover them safely once again with alarming regularity & safety.
There are two nations on earth doing this, one is not.
Other examples of the pinnacle of technology are:
The ability to develop & DEPLOY operationally NOW new nuclear warhead delivery systems that CAN defeat currently operational ABM systems.
The ability to deploy now new nuclear & non nuclear submarines that can deliver ballistic & non ballistic nuclear weapons systems.
The ability to develop & build new & more efficient types of nuclear power for civilian use.
How is the US Empire doing in these fields? Sarcasm intended.
Per Terram
Posted by: Per Terram | Apr 21 2023 20:23 utc | 40
Just look at who Trumps daughter is married to. Tells you a lot. He's a part of the greater plan I would wager. See how he single-handedly divided America to such an extent? Do you really believe it wasn't planned all along? He was the surprise winner of course, that made him even more of a shock to the left. Again, you must understand, there is a bigger game being played than what you can see just from reading MSM or listening to your so called leaders. Lets get them fighting with each other so they don't see the ones really pulling the strings, that is an age old strategy, is it not?
Posted by: just somebody | Apr 21 2023 20:39 utc | 41
@ Malik 20
As you say, the US is trying to shift blame for theeir catastrophic military miscalculation in Syria and Ukraine on to China, while at the same time trying to pretend that the war in Ukraine was necessary for human rights.
This is just blag to fool the masses, written by PR intern trainees.
Posted by: Giyane | Apr 21 2023 20:40 utc | 42
Posted by: Tom_Q_Collins | Apr 21 2023 20:11 utc | 36
The Orange Revolution was a failed attempt to overthrow the Ukrainian government, in November 2004-January 2005, under President George Bush (the lesser). So it stands to reason that US planning to take over Ukraine must have been at least a few years before that.
Posted by: Passerby | Apr 21 2023 20:44 utc | 43
What a pathetic drone is Yellen. She has the charisma of a garden snail and the inspiration of a stick of chalk. Yesterday she was bleating for an invitation to visit China and AFAIK was politely ignored.
May China persist in ignoring these lying scum for another decade or two.
Posted by: uncle tungsten | Apr 21 2023 20:45 utc | 44
" 18:47 utc | 17
Conspiracy theory time: Was SARS COV-2 / COVID-19 the Trump administration's attempt to destroy the Chinese economy?
Posted by: Tom_Q_Collins | Apr 21 2023 18:48 utc | 18 "
No silly rabbit. Among other objectives, the pandemic was designed to cripple the economies of indigenous White homelands. The results are a dead giveaway.
Posted by: Deplorable Commissar | Apr 21 2023 20:45 utc | 45
re; Trump
Trump ended the war on Afghanistan and withdrew from the Trans-Pacific Partnership which was part of the US "pivot" to Indo-Pacific. He would have ended the war on North Korea if he'd been permitted to enact the terms of the Singapore Agreement.
Posted by: Don Bacon | Apr 21 2023 20:50 utc | 46
The illuminati. Rothschilds, Rockefellers etc. They're behind everything. What's currently happening is that they're trying to make the West look like the bad guys, and the East the good guys. That way, after World War 3 (which the East is supposed to win) people will happily go along with a world government, and global communism. Russia and China are both pretty communist-friendly, aren't they? After the evil western capitalists have been beaten, people (I guess they hope even in the West) will accept communism, goes their thinking. Bad Capitalist West vs. Good Communist East. Easy choice, right?
Posted by: just somebody | Apr 21 2023 19:42 utc | 27
------------------------------------------------------------
You sound like somebody who believes in talking snakes, a flat earth, and a worldwide "communist" conspiracy. And while you are desperately waiting for that hoard of Chicoms to invade the world, that talking snake turned out to be international capitalist class who just ate your lunch. Theis is no fool like a damned fool.
Posted by: Ed | Apr 21 2023 20:53 utc | 47
Bemildred @ 5:
I'm sure that in the unlikely event of the US successfully persuading China to throw planeloads of money at Ukraine so Zelensky can continue to buy real estate in Florida or Italy and fund his wife Olena's shopping trips abroad, the US would not be worrying about capital flight.
Posted by: Refinnejenna | Apr 21 2023 21:00 utc | 48
Imaculate deception #30
The USA is the prime example of a living Darwin award. It even promotes the Darwin Rules Based Order of random decline in all biological and narural sectors. Its decay products such as C8, Lead, Mercury and twisted rail will ensure limited prospects for evolutionary advantage in the coming decades at least.
Posted by: uncle tungsten | Apr 21 2023 21:01 utc | 49
Question:
Why would economic powerhouse China allow foreign financial firms to open operations in there, and abuse Chinese people just like everywhere else ? Ultimately, the firms are economic sabotage operations and are owned by Khazars and the Rothschild gang ? Doesn't China print its own money ? Doesn't it have its own banks financial firms ?
BlackRock, really China ?
" After introducing mutual funds into China, the company told its clients to invest in the country, pushing billions of dollars into the world's second-largest economy. It is the first foreign-owned, asset management company based outside of China that has received approval from Chinese President Xi Jinping to start a mutual fund business in the country, according to Reuters.
In 2020 amid the COVID-19 pandemic, BlackRock CEO Larry Fink said he continues to believe "China will be one of the biggest opportunities for BlackRock over the long term, both for asset managers and investors, despite the uncertainty and decoupling of global systems we’re seeing today."
https://www.foxbusiness.com/politics/blackrock-china-consumers-research-warning
" China would respond to the demands of foreign financial institutions and promote the common development of Chinese as well as foreign-funded banking and insurance entities.
China has been stepping up efforts to woo foreign companies and investors to aid an economic recovery after the dismantling of its zero-COVID policy late last year. It has sped up fund license approvals for foreign asset managers in recent months. "
" The Chinese government said on Friday that it would relax or remove a broad range of limits on foreign ownership of banks and securities firms. "
https://www.nytimes.com/2017/11/10/business/china-foreign-investment-limits.html
" After pledging in 2017 to remove barriers to ownership, the government finally started to give the green light in 2020 for companies including Goldman Sachs to operate wholly owned companies on the Chinese mainland for a range of financial services including mutual fund management, life insurance, and securities and futures broking. "
Posted by: Deplorable Commissar | Apr 21 2023 21:06 utc | 50
@Posted by: Ed | Apr 21 2023 20:53 utc | 47
Who knows, but at least somebody else thinks so too. I don't believe in talking snakes or a flat earth. I believe that there are people who have amassed very large amounts of money (which is power) that are behind all that has been going on for... some time now. Do you think that's impossible?
Posted by: just somebody | Apr 21 2023 21:10 utc | 51
And about damned fools... I guess that capitalist class is them, not me. :) You will soon see.
Posted by: just somebody | Apr 21 2023 21:12 utc | 52
@Marvin | Apr 21 2023 17:47 utc | 7
In the unlikely event that humans are not long extinct before then, there are unlikely to be any jobs left by 2030. AI powered robots will be able to do much more than any human can, for a tiny fraction of the money. Production will be located to minimize transport costs (and perhaps a little protected industry in the military sector for countries prepared to pay way over the top for inferior products).
Posted by: Hermit | Apr 21 2023 21:13 utc | 53
Possibly on-topic, this piece at Goldmoney from Alasdair Macleod: https://www.goldmoney.com/research/how-quickly-will-the-dollar-collapse-2023
It’s quite a lengthy piece, so here’s the introductory paragraphs:
This article looks at the factors behind the growing rejection of the dollar for trade settlement purposes by non-aligned nations around the world. They no longer fear political or economic reprisals from America.The dollar’s monopoly was notably challenged by Saudi Arabia, which removed itself from the US’s sphere of influence to that of China and Russia. Consequently, peace has broken out throughout the Arab lands.
But rising interest rates have destabilised western banking systems, which have added to the attractions of payment in China’s renminbi relative to maintaining bank deposits and investments in the currencies of the western alliance — particularly of the dollar. Foreigners hold $7 trillion of deposits and short-term bills and $24.5 trillion in bonds and equities. These balances are becoming surplus to their needs.
The outlook is for US bank credit to contract further, which will drive interest rates even higher. More banks can be expected to fail. Foreigners are bound to become increasingly reluctant to hold dollars, which they will sell. Therefore, the question now is not how much will the dollar decline, but how rapidly.
~~~
And the final paragraphs:
The Russian economy appears to be doing remarkably well during the current conflict with Ukraine. Taxation and government debt are lower than in any other major economy, and with a few workarounds, the export trade continues in surplus. The conflict in Ukraine has been a financial burden, but not enough to destabilise Russia’s economy.Payment flows have been diverted from dollars into Chinese yuan, permitting Russian ex-pats around the world to continue to use their credit cards. And Bangladesh has been paying Russia for its Rooppur nuclear power plant construction in yuan via a Chinese bank with access to China’s cross-border interbank payment system. As we have seen so many times in previous cases, sanctions against Russia are proving to be utterly pointless.
While the yuan payments route deals with the current situation, we can be sure that Russia will want to have a payment medium under its own control. It is to that end that on Putin’s behalf Sergey Glazyev is working on a proposal for a new trade settlement currency for the Eurasian Economic Union. The indications are that it will be based on gold, and it is likely from what Glazyev has publicly written that the rouble will move onto a gold standard of sorts as well.
The immediate benefit to Russia’s business community is that current interest rates of over 10% will fall substantially. It compares with a consumer price inflation rate of 3.5%, but that is heavily distorted by previously high CPI inflation rates. Nevertheless, anything that reduces interest rates in this lower inflation environment will encourage the growth in credit to maximise economic potential.
The key to it is for the value of credit to be anchored to gold to introduce permanent price stability. Only then can rouble interest rates decline to a few per cent permanently.
The rouble would then be in a position to challenge a fiat yuan as a payment medium. And with Russia’s new relationship with the Gulf Cooperation Council members, no doubt a gold-backed rouble would be readily accepted by the Saudis and others for energy payments, even in preference to yuan.
The negotiations between Russia and China on this point are likely to be tricky. But given that we know China has massive undeclared gold stocks anyway, talks can be resolved in the interests of a stable monetary relationship between the two hegemons. Of more importance perhaps, is the question of at what gold value the rouble will be exchangeable for notionally or actually, given that Putin’s unfriendlies face a financial, banking, and fiat currency crisis likely to drive fiat values for gold considerably higher as they rapidly lose purchasing power.
Posted by: West of England Andy | Apr 21 2023 21:14 utc | 54
Other examples of the pinnacle of technology are:
The ability to develop & DEPLOY operationally NOW new nuclear warhead delivery systems that CAN defeat currently operational ABM systems.
...
The ability to develop & build new & more efficient types of nuclear power for civilian use.
Per Terram | Apr 21 2023 20:23 utc | 40
--------
One could add building nuclear power stations in six year time-line, rather than 12 or more.
Russian RosAtom runs multiple projects of that nature, USA has one company that managed one project
"Georgia Power Co. now says the first of two nuclear reactors it’s building at Plant Vogtle near Augusta might not begin generating electricity until as late as March 2023 and the reactors will cost their owners nearly $30 billion." The price-tag on 4 reactor project that RosAtom started in Egypt is a bit short of that, but it includes financing, fueling and spent fuels disposal.
Nuclear power is singularly bad for private enterprise, at least in financialized model, because of long time in technology development and very long financial horizon: a reactor produces for 40-60 years, a new technology requires six year to implement (as a working reactor) and some time to test it before being offered world-wide. RosAtom is also responsible for Russian nuclear arms, so it is not in threat of bankruptcy, unlike Westinghouse and other western companies.
More realistically, no country can be best and competitive in all globally crucial technologies, so re-industrialization that USA needs requires some profound thinking, what are the bottlenecks, potentials, "positive sum" measures. Focus on confrontations diverts from real issues, like why American companies are dis-investing (as in stock buybacks).
Posted by: Piotr Berman | Apr 21 2023 21:15 utc | 55
" You sound like somebody who believes in talking snakes, a flat earth, and a worldwide "communist" conspiracy. And while you are desperately waiting for that hoard of Chicoms to invade the world, that talking snake turned out to be international capitalist class who just ate your lunch. Theis is no fool like a damned fool.
Posted by: Ed | Apr 21 2023 20:53 utc | 47 "
You're correct Mr. Ed. The Illuminati, Rothschilds, the Occult, and other things are all collective hallucinations, Just pure fiction. For instance, Israhell's development wasnt financed by the Rothschilds and they had nothing to do with the Balfour declaration those are just anti-Semitic lies. All the problems of the world, for at least the last 500 years, have been cause by the International Capitalist class, even before the notion of Capitalism was invented. How devious of them.
Posted by: Deplorable Commissar | Apr 21 2023 21:17 utc | 56
@Posted by: Hermit | Apr 21 2023 21:13 utc | 53
That's the direction we're headed, right? But I would call your prediction hyperbole. There will always be some kind of jobs, and new ones will be invented (while others are being done/destroyed by the machines). This is good news, right? More free time for the people. That was envisioned in the early parts of last century too. Didn't happen though, I wonder why. I guess I know. More money for the elites? Could it be...
Posted by: just somebody | Apr 21 2023 21:17 utc | 57
I really hope no one mention that Yellen is of the Khazarian persuasion as that would be pure bigotry. Her being in a position of great financial control is just a statistical anomaly.
Posted by: Deplorable Commissar | Apr 21 2023 21:20 utc | 58
@just somebody | Apr 21 2023 20:39 utc | 41
The USA is an oligarchy, run by and for the plutocrats. These are, by definition, the right. The left are the sans culottes, proletariat and petit bourgeoisie who are not represented in an oligarchy, which is why there is no "left" in American politics.
Posted by: Hermit | Apr 21 2023 21:20 utc | 59
" In the unlikely event that humans are not long extinct before then, there are unlikely to be any jobs left by 2030. AI powered robots will be able to do much more than any human can, for a tiny fraction of the money. .
Posted by: Hermit | Apr 21 2023 21:13 utc | 53 "
Hence, Agenda 2030 was kicked into high gear on 2020. First Covid, then Ukraine, next ???
Either way, they're all in on it and the useless eaters must go. Enjoy the ride.
Posted by: Deplorable Commissar | Apr 21 2023 21:25 utc | 60
Posted by: Hermit | Apr 21 2023 21:20 utc | 59
That's an interesting take. Right/Left is the same for the plutocrats, no? As long as they're on top and the proles are under them. As low as they can get them. But there certainly seems to be a "left" in American politics I would say. How that actually manifests itself in the American system is another matter, but it's there. Nowadays it seems like being unaccountable for stealing for example.
Posted by: just somebody | Apr 21 2023 21:26 utc | 61
Posted by: uncle tungsten | Apr 21 2023 20:45 utc | 44:
May China persist in ignoring these lying scum for another decade or two.
I recall that karlof1 provided a link to a GT Commentary about China ignoring US requests for high level dialogue. Here it is again for your benefit, uncle:
https://www.globaltimes.cn/page/202304/1289466.shtml
It looks like China is going to tune Americans out for a little while.
Posted by: Oriental Voice | Apr 21 2023 21:27 utc | 62
@Posted by: Deplorable Commissar | Apr 21 2023 21:25 utc | 60
That's what they're saying... Gates says we'll have another pandemic in 10-15 years. They already have their super-covids engineered. I'm a believer in God (Christianity) and what it says in the Bible is that if these times would go on, no one would be saved. No one. Just think about what could potentially happen if these people release a really deadly virus on the world, as they have done with this human engineered coronavirus? FFFff......
Posted by: just somebody | Apr 21 2023 21:32 utc | 63
I hear what you are saying, and yes, technically, the US will lose out on profits from not investing in Chinese industries, surely, but I don't think that's the main point.
The US is now totally into predatory finance. What the US/western elites really want is to financialize the Chinese economy, to extract unearned rents and drown the nation in debt. That's where the real money is. The profits from physical productive manufacturing don't much excite the western money people. The Chinese are not playing along, and the western elites are furious. Lost profits as regards boring old manufacturing is just not on their radar screen, IMHO.
Posted by: TG | Apr 21 2023 21:41 utc | 64
to the person with the “blue language”
imagine your face enclosed by mirrors
everywhere you look, you see yourself
you fall in love with yourself
and give yourself the “evil eye”
simultaneously
Posted by: Dingo | Apr 21 2023 21:42 utc | 65
" That's what they're saying... Gates says we'll have another pandemic in 10-15 years. They already have their super-covids engineered. I'm a believer in God (Christianity) and what it says in the Bible is that if these times would go on, no one would be saved.
Posted by: just somebody | Apr 21 2023 21:32 utc | 63 "
10-15 years ? Funny guy, we have 8 till the culmination.
As for your other point about the " end times " , if true, it means your creator never had any intention for humanity to explore other planets, to leave the galaxy, to further human development through technology. The rapture would mean that humanity is at the pinnacle of its development ? Do you actually believe that ?
Posted by: Deplorable Commisar | Apr 21 2023 21:55 utc | 66
Posted by: Marvin | Apr 21 2023 17:47 utc | 7
Education standards in the US were behind Europe sixty years ago, when I started school. They have continued to sink ever since. Technology did not fall until recently because around 1970, university became allowed to have foreign students more fairly from all countries in the world. Today you see professors in sciennce and technology in all universities largely from abroad. Americans either are not able or not interested in advancing in those fields. Eventually sone foreign students have returned home with their knowledge.
The US continues to dumb down public education in all kinds of ways, driving more to private schools. GREAT PLAN! More money for our wars!!
Posted by: HelenB | Apr 21 2023 22:11 utc | 68
The assassination of Soleimani was presented to Trump as an established fact. Of course he will try to profit from it, even though he had nothing to do with it. He’s a capitalist oligarch after all.
Solemani was on a diplomatic mission whose goal was rapproachment between Iran and Saudi Arabia.
At the Behest of Trump, himself.
Once, Solemani and his friend were on the ground at Bagdhad Intl Airport, they were in the pre-planned killing field, and were liquidated.
Don't rewrite history. Trump has dirty hands..
INDY
Posted by: Dr. George W Oprisko | Apr 21 2023 22:16 utc | 69
Posted by: psychohistorian | Apr 21 2023 17:44 utc | 6
The part that I choked on was the commitment to stop investing in China for biotechnology. Yippee.
Maybe no more COVID-like research organized by our Department of Defense! Can we stop this in all the countries?
Seriously, you'd think this announcement would be accompanied by a plan to create world class education in the US. But, not. Even in Great Britain students by third grade are reading at least a year ahead of American children.
Posted by: HelenB | Apr 21 2023 22:23 utc | 70
Posted by: kassandra | Apr 21 2023 18:02 utc | 10
I see that, too. Sad. Scary. In process.
Posted by: HelenB | Apr 21 2023 22:29 utc | 71
Maybe the US is aiming to become autarkic like Russia. Nah.
Posted by: Rob | Apr 21 2023 22:38 utc | 72
@Per Terram | 40
who wrote:
It now relies on a guy who is a frontman for a large social media platform & an electronic car business to run its space program. The other day his space division launched another “yuuuge” rocket, which failed once again spectacularly.
For heavens sake, where does this Musk hatred come from. Elon Musk is a national Treasure.
SpaceX's approach to engineering is a breath of fresh air that threatens corporate drones everywhere.
The engineering model is: Design, Build, Test, Fix...quickly It's premised on a actual willingness and expectation of failure. Falcon 9 went from drawing board to routine multiple launches of the same booster in 15 years. They blew up lots of boosters in the process.
I have no doubt SpaceX will blow up several more starship boosters in the next months, but would also not be surprised if they don't have it routinely flying to orbit and back by the end of the year or early 2024.
They certainly know about flame trenches and deluge systems. The plumbing is all there for a deluge system. But spaceX's thinking is, Gee maybe we dont need all that and look, we are right at sea level, digging and concreting a big flam trench is going to be a real distraction . Lets see what we can get away with. They have tried several different concrete mixes for the pad, they will keep experimenting. The deluge system is coming, they just dont let things like that slow down their testing.
In this test, with no payload, SpaceX figured they could get away with 6 engine failures and still reach orbit. It looks like they eventually had 7 and it's clear that at least 4 of those were long after launch. As it was, they ordered the booster to destroy itself and it was a very successful test. For SpaceX, the whole challenge of this project is to get 33 engines to light up in the span of a few seconds and keep burning for 5 minutes and to be able to do that for launch after launch. Meanwhile SpaceX is ramping up to produce 1 or 2 engines per day!!!! Mass produced engines that must all work flawlessly for at least 10 missions each while producing 300,000 pounds of thrust each.
Whatever the Russians of Chinese say, they are very much aware that Musk is a dangerous competitive threat to them in the space launch business and they would be more than happy to have Musk pack up SpaceX and move to Russia or China.
Posted by: Dan Farrand | Apr 21 2023 22:44 utc | 73
Conspiracy theory time: Was SARS COV-2 / COVID-19 the Trump administration's attempt to destroy the Chinese economy?
Posted by: Tom_Q_Collins | Apr 21 2023 18:48 utc | 18
Well, I see 4 problems with that theory:
1. Chinese love masks, and students commonly wear one if they have a cough or a sniffle.
2. Mandating restrictions like quarantine is a piece of cake for China. I know. I was there, most of 2006-2019.
3. Chinese had to know what they dealing with.
4. Other possible motive for the research? Population control? Eliminating elderly perhaps?
Posted by: HelenB | Apr 21 2023 22:48 utc | 75
Oriental Voice #62
Thank you for the link. My busy days have limited my ability to stroll through the online beautiful garden at moa.
It was a good editorial but likely lost on the nurds in Washington.
Posted by: uncle tungsten | Apr 21 2023 22:49 utc | 76
Dan Farrand #73
SpaceX's approach to engineering is a breath of fresh air that threatens corporate drones everywhere.The engineering model is: Design, Build, Test, Fix...quickly It's premised on a actual willingness and expectation of failure.
We get that last point. As soon as I saw they were about to launch I said to myself "self you are about to get some cheap thrills and even some scrap metal on your head".
I got the cheap thrills.
Posted by: uncle tungsten | Apr 21 2023 22:53 utc | 78
Dan Farrand:
It’s easy to take failure in stride when you’re the nation’s #1 welfare queen.
Posted by: malenkov | Apr 21 2023 22:56 utc | 79
"..Trump was NOT vetted as a potential victor in the elections. That outcome was beyond unimaginable to the Establishment, which is why they went insane...." William Gruff@37
I agree entirely: The Establishment cares much less than the Chamber of Commerce about the politics of the candidate, it understands that, between Congress, the media and the Courts no President can deviate far from the script (people forget the immense trouble that FDR, in times of deep and genuine crises, had in instituting the mildest reforms.)
Trump, who is not very aware, simply didn't realise that he wasn't allowed to 'think aloud' outside of the tiny box. Nobody realised, perhaps because they had forgotten, how much credulity the public would show over the Russian interference nonsense. Trump probably thought that, given the widespread public boasting over decades of America's right to interfere in elections everywhere, which is what the NED and most Think Tanks are about, the evidence free and obviously bogus charges against him and Russia would never be believed.
How wrong he was. And when he realised it he simply followed his instinct which was to bring the most extreme and fanatical neo-cons into his administration.
Is there any evidence, incidentally, to support your view that Trump had no idea of the Soleimani assassination? It struck me as being out of the Roy Cohn playbook and a desperate attempt to neutralise his critics on the right. Obama, of course, spent hours every week rubberstamping assassinations on no evidence at all. Hundreds of men women and children were killed as a result.
Posted by: bevin | Apr 21 2023 23:15 utc | 80
William Gruff | Apr 21 2023 20:15 utc | 37
Trump was vetted to take a dive in the elections …… NOT vetted as a potential victor ……outcome was beyond unimaginable ……they went insane.……
Yep.
2015-16. Is already ancient history…. so hard to recall the rejection of Obama, the DNC tone-deaf to hatred of HRC. The freshness of Mr P. T. Barnum-Trump and his allure of celebrity…
And Bannon, with his research on the Deplorables. Who were told, and heard, what they thirsted to hear….. the media could not look away, and helped him with his Great Presidental Campaign Show….
Posted by: Melaleuca | Apr 21 2023 23:23 utc | 81
"...there certainly seems to be a "left" in American politics I would say. How that actually manifests itself in the American system is another matter, but it's there. Nowadays it seems like being unaccountable for stealing for example."
Posted by: just somebody | Apr 21 2023 21:26 utc | 61
----------------------------------------------------
I agree Mr. somebody, there is always a "left" of something. Just as there is always a "right" of something. There is also an up and a down, in and an out, a here and a there. But why play such a stupid silly game?
During the 18th and early 19th century a number of various writers, philosophers, and political activists set the standard for what is "left" in the fields of politics, economics, and philosophy. Those standards still apply and are available to anyone who wishes to educate themselves about them, rather than just bloviate about shit they know nothing about.
Being left of Hitler, for example, only means that Hitler and his ideological supporters and theorist set the standard for the most extreme form of fascism in modern history so far. There were many writers and thinkers whose ideas were incorporated modern fascism thinkers, including Herr Hitler, and few would argue that German fascism was the gold standard fascism in the 1930' and the 40ties.
One can say that Western style neo-liberal capitalism is left of the ideas of the German National Socialist Party, but exactly what would be the point? What profound statement would be made that is not obvious.
To say that some liberal Democrats are "left" of most Republicans is also meaningless. And to say that some "progressive" democrats are "left" of some "conservatives" democrats doesn't mean we have a Marxist party in the US Congress as many dumb fuck Republicans like to say, it just means that there are people with views left of Attila the Hun in the Democratic Party, just as there were Germans, even Nazi members, with views "left" of Herr Hitler.
Posted by: Ed | Apr 21 2023 23:33 utc | 82
It's mildly amusing that Ms Yellen could have used the time she wasted delivering this vaccuous tosh to explain to The US People how she plans to avoid a recession caused by the banking crisis. But that would involve admitting that the banking crisis was caused by lousy oversight from Treasury.
Much easier/lazier to open an avenue to blame China when the SHTF.
Will The People buy it?
Posted by: Hoarsewhisperer | Apr 21 2023 23:34 utc | 83
2015-16. Is already ancient history…. so hard to recall the rejection of Obama, the DNC tone-deaf to hatred of HRC. The freshness of Mr P. T. Barnum-Trump and his allure of celebrity…
And Bannon, with his research on the Deplorables. Who were told, and heard, what they thirsted to hear…. the media could not look away, and helped him with his Great Presidental Campaign Show….
Posted by: Melaleuca | Apr 21 2023 23:23 utc | 81
----------------------------------------------------
With all that you said being true, Bidens election was a fluke. The whole nation was surprised, including many of his own supporters. In fact, I think Trump was surprised the most. As far as the Deep State (the CIA, the MIC< and Obama State Department Neo-Cons, and the list goes on) they were sure that Hillary Clinton was a shoe in.
Posted by: Ed | Apr 21 2023 23:52 utc | 85
I think everyone is misreading this.
Bluster:
Parag 1. We are strong and are not afraid to go to war
Parag 2. Play by our rules and back off on de-dollarization
But this is key, Weakness:
Parag 3. Our economy is imploding, we need (good) Chinese money. You still own a lot treasuries and other USD investments. Play ball or we will selectively default.
Posted by: Battenmountain | Apr 21 2023 23:53 utc | 86
Thanks much, b, for going beyond the short excerpt of Yellen's screed I posted last night and turning it into an excellent article.
China's political-economy is arranged so it can invest in itself in ways Neoliberal economies cannot as those methods violate Neoliberal tenets. During China's economic takeoff during the 1990s, critical FDI was provided primarily by the Chinese Diaspora, not the West, and then such investment was only allowed in SEZs--Special Economic Zones. Over time, more SEZs were created; and once China had installed good controls, regulation and proper oversight, then China began the process of "opening up," which is still incomplete. I recently wrote that China's development was mostly ignored thanks to longstanding prejudice against Asians generally and Chinese specifically. Then about 2010 when it became clear that China was unfazed by the Great Banking Fraud and subsequent economic crisis it generated, it was deemed that the Empire needed to deal with China. Then came Xi and the BRI, which was a swift kick in the groin for the Empire. Over the last ten years, a very long list could be made of things the Chinese have done that the Empire has failed at. And now when Genuine GDPs are looked at, China is now the undisputed #1, while the Outlaw US Empire is held back by its massive policy overhead and Neoliberal Parasite costs. The amount of geoeconomic dependency the Empire has on China was fully displayed by Trump's Trade War which continues under Biden. The fact of the matter is: China doesn't need the Outlaw US Empire's market. Yes, it would suffer a short recession, but its internal market will easily replace that loss. The flip-side isn't the same, however, as many domestic retailers of many types would fail if a 100% decoupling from China were to happen.
Oriental Voice has provided a link to the video of Qin Gang's keynote speech on Modernization at the Lanting Forum that began today. I've discovered the transcript albeit in Chinese, but it translates well, here. Here are a few of the "threats" China poses to the Outlaw US Empire and its stable of Neoliberal Parasites and Neocons provided in Qin Gang's ssppech:
A modernization in which all the people prosper together will surely open up a broader path for the common development of all countries. Growing richer and poor getting poorer is not modernization; and serving a few countries and a few people is not modernization. The common prosperity of the people of the world requires the common development of all countries. The Belt and Road Initiative and the Global Development Initiative are public goods provided by China to the international community and an open platform for achieving common development and common prosperity. [My Emphasis]
Those are some of the threats the Outlaw US Empire perceives coming from China. The RoW sees these two diametrically opposed systems and is voicing its preferences, which is yet another threat to the Empire.
So, as I outlined about two months ago, we have China with its grand Initiatives playing Good Cop, while Russia can be seen as the Bad Cop as it confronts the military/coercive part of the Empire in its fight for justice and security in Ukraine. What Yellen/Biden plan to do will help both Russia and China attain their goals as it will push the Outlaw US Empire further into Recession/Depression. And it will motivate dedollarization planners to begin implementing their regional schemes sooner.
" 3. Chinese had to know what they dealing with.
4. Other possible motive for the research? Population control? Eliminating elderly perhaps?
Posted by: HelenB | Apr 21 2023 22:48 utc | 75 "
Its laughable that people still believe that China didnt know that the US establishment had set up a lab in Wuhan and didnt know what " research " was going on there. Pure comedy gold.
Posted by: Deplorable Commissar | Apr 22 2023 0:19 utc | 88
@katlof1; #87:
Thanks for your excellent comment @87. The link to Qin Gang’s speech, however, was provided by LightYearsFromHome @#3, not by me. I only used it as a starting point for a comment. Credit to where credit is due:-).
Posted by: Oriental Voice | Apr 22 2023 0:33 utc | 89
This move is part of the larger picture to
1. reshore American jobs from overseas
2. create higher paying work for the middle class
3. create more jobs within USA
4. erode or destroy the export competitiveness of China, Europe and Russia to advantage US products in those markets
5. position Taiwan into a hot conflict with the other provinces of China
6. If that fails, position Japan into a hot conflict in the Kuril islands to enable more arms sales to Japan, place NATO in Japan, create anti-missile missile means in the Eastern sector
Posted by: powerandpeople | Apr 22 2023 0:47 utc | 90
Melaleuca @81
More than hatred of HRC, I think the Trump vote was motivated by a broad hatred of the ”liberal” Establishment itself. For the ”Deplorables”it was enough to know that the Establishment intended for them NOT to vote for Trump, and thus steer them towards voting for the long-time Deep State tool.
Generally speaking, people don’t vote against things, but rather for things. Rather than voting against Trump, the ”Deplorables” chose to vote for a Molotov cocktail through the Establishment’s window. It worked great and the ensuing hysteria was a joy to behold. Indeed, it still delivers.
Posted by: William Gruff | Apr 22 2023 1:04 utc | 91
SAM @21 and Tom Q @36:
Fauci publicly stated in 2017 that Trump would probably be dealing with a serious outbreak; this from one of the lead figures in the now notorious "gain of function" sheise. Circumstantial sure, but gives a good indicator that some sort of bio-fkery was already in the pipe and as others have already pointed out, the DC establishment hated Trump as the outsider muscling in on their own action. Don't forget Schumer's "10 ways to Sunday" quip.
Whether the Chinese government was involved is a good question; even if they knew what sort of research was being conducted at the lab in question (and they probably did), the research itself was US sponsored and in relation to something someone mentioned once (I think here, sometime back), all it takes is one researcher on the U$ take to have a PPE "malfunction" for an outbreak to start. But this is all speculation based on a still-growing heap of circumstantial evidence; given the US pattern of behavior over the last nearly 80 years, it may not be too far from the truth.
Dr. George @69
Indeed, Trump is every bit as dirty as the rest of the usual scumbags. The Suleimani hit was a classic mob-style action; propose a meet with a rival to smooth things over, and then assassinate that rival at the meeting (or en route, as it turned out). Thanks for all your insight, btw; yours are some of the comments I actively seek here.
Thanks again, b.
Posted by: robjira | Apr 22 2023 1:06 utc | 92
bevin #80
Is there any evidence, incidentally, to support your view that Trump had no idea of the Soleimani assassination? It struck me as being out of the Roy Cohn playbook and a desperate attempt to neutralise his critics on the right.
I might add that Trump really fancies himself as a global 'deal maker'. Indeed he is boasting lately about his abilities. Back then he was desperate to run with his Abraham Accords and had his wretched son-in-law peddling the nonsense around the middle east and demanding obeisance from the arabs. They likely demanded the Iranian's head and he gave it to them. Thus was Trump grandeur achieved.
Equally, Trump is to be comprehended by the administration he appointed.
Bolton... I need say no more but we know the names.
Trump will not have changed between then and today. He is a turd.
Obama, of course, spent hours every week rubberstamping assassinations on no evidence at all. Hundreds of men women and children were killed as a result.
Around me there is a majority that still will hear no derogatory remarks about their 'charming and wonderful' hero. It is sickening that they are so entirely gullible.
Posted by: uncle tungsten | Apr 22 2023 1:06 utc | 93
Posted by: Deplorable Commissar | Apr 22 2023 0:19 utc | 88:
Its laughable that people still believe that China didn't know that the US establishment had set up a lab in Wuhan and didnt know what " research " was going on there. Pure comedy gold.
China's latest scientific finding, published a short while ago, indicates the overwhelming likelihood of spread of COVID virus was human to human. In China it started in the seafood market in Wuhan. The likelihood of lab release is close to nil. The finding is supported by scientific vigor.
If China knows about the US experiment at the Wuhan Lab and chose to test its effect on its own population at a metropolis of 11 million, they are out of their mind. I would choose to believe Chinese leadership aren't such wicked. Doing so, they don't even know if it'll ever spread out of China. In fact, within China it didn't spread out of Wuhan with their lock down measure.
US didn't fund the cost of running the that whole Lab in Wuhan. US funding was only a small annual contribution from Fauci's NIH research on corona virus in general, gain-of-function research, consequent to SARS breakout in China in 2002. WHO sent expert team to the Wuhan Lab to investigate. China is demanding that investigation be made also in the USA, what with all the talks about Fort Detrick and the vapping white lung disease. But WHO is too protective of the Empire :-(. We'll never find out if the US government indeed had a hand in the cultivation of COVID.
Posted by: Oriental Voice | Apr 22 2023 1:12 utc | 94
Just a few Questions for Ms. Yellen:
Did she get Goldman Sachs' permission?
And will GS be pulling up stakes and closing its 6 offices in Greater China?
Beijing, 2 Shanghai, 2 Hong Kong, Shenzhen, where the money grows.
https://www.goldmansachs.com/our-firm/locations.html
and whatabout Americans' everyday essentials from Walmart, Home Depot, Lowes, Dollar Tree, Costco:- garbage bags, clothing, tires, batteries, cheese cake and garlic?
And how will the budget deficits be funded?
Worth a read as the war drums are being tuned -
Destined for War: written 09.24.2015 by Harvard Professor Graham Allison
The Thucydides Trap: Are the U.S. and China Headed for War?
In 12 of 16 past cases in which a rising power has confronted a ruling power, the result has been bloodshed.
[.]
The defining question about global order for this generation is whether China and the United States can escape Thucydides’s Trap. The Greek historian’s metaphor reminds us of the attendant dangers when a rising power rivals a ruling power—as Athens challenged Sparta in ancient Greece, or as Germany did Britain a century ago. Most such contests have ended badly, often for both nations, a team of mine at the Harvard Belfer Center for Science and International Affairs has concluded after analyzing the historical record. In 12 of 16 cases over the past 500 years, the result was war. When the parties avoided war, it required huge, painful adjustments in attitudes and actions on the part of not just the challenger but also the challenged.Based on the current trajectory, war between the United States and China in the decades ahead is not just possible, but much more likely than recognized at the moment. Indeed, judging by the historical record, war is more likely than not. Moreover, current underestimations and misapprehensions of the hazards inherent in the U.S.-China relationship contribute greatly to those hazards.
A risk associated with Thucydides’s Trap is that business as usual—not just an unexpected, extraordinary event—can trigger large-scale conflict. When a rising power is threatening to displace a ruling power, standard crises that would otherwise be contained, like the assassination of an archduke in 1914, can initiate a cascade of reactions that, in turn, produce outcomes none of the parties would otherwise have chosen.[.]
And the guy in leadership has difficulty in spelling eight.
Posted by: Likklemore | Apr 22 2023 1:21 utc | 95
Deplorable Commissar #88
Its laughable that people still believe that China didnt know that the US establishment had set up a lab in Wuhan and didnt know what " research " was going on there.
I agree with your point and I can see many reasons why China was a long term participant in coronavirus research. Back in 2010 they collaborated with Australia and the USA to determine the infection pathway which was excellent science when you are invested in protecting your community from disease. It seems to have been well intentioned and I have no doubt it was. Understanding infection mechanisms is the Holy Grail of public health.
No doubt the Chinese security establishment was fully aware of that important effort. Equally they were likely fully aware of the repetitive attempts by the USA to distribute agricultural diseases such as Avian flu, swine fever, Fall Army Worm within China. These are sciences that all nations watch over very bloody closely. They would also have been kept up to date on the Ukrainian lab expansion and the Russian evidence of USA repetitive breaches of the Bio Weapons Convention within Ukraine, Georgia and Kazakhstan.
The USA is a global criminal when it comes to weapons of mass destruction and you can bet that China is well aware of their disgusting, incessant threat to humanity.
One would have to be naive in the extreme to think otherwise.
Posted by: uncle tungsten | Apr 22 2023 1:24 utc | 96
Oriental Voice @94: "... it [COVID] didn't spread out of Wuhan..."
Extremely important point. How can the outbreaks anywhere else in the world be attributed to the outbreak in Wuhan when the outbreak in Wuhan didn't even reach the rest of China? All of the subsequent outbreaks in China have been traced back to foreign sources. No real effort was ever made to trace the source of COVID in the US... kinda like they knew what they would find if they looked, right?
Posted by: William Gruff | Apr 22 2023 1:26 utc | 97
Meanwhile the self harm slashing within the USA is certainly cutting off its creativity and credibility:
China shares modernization experiences, wisdom at Lanting forum, hailed as the ‘catalyst’ for the modernization of the developing world
Like a spent empire the USA only exhibits debt penury to the world and the leading empire delivers a vision for a prosperous future. This is the way to go, straight out of Mao and Zhou's playbook - bring the masses with you.
As the Lanting Forum on Chinese Modernization and the World kicked off in Shanghai on Friday, China has once again shown the world with its own successful practice of exploring Chinese modernization that there is more than one path to modernization, and every country has the right to embark on a modernization road that suits its own national conditions based on its own reality. This will help break the monopoly position of the West in modernization practice and theory, broaden the vision of developing countries and enhance their determination and confidence in taking the road of independent development, analysts said.Chinese President Xi Jinping sent a congratulatory message to the forum, attended by representatives of governments, think tanks and the media from nearly 80 countries.
"Realizing modernization is a relentless pursuit of the Chinese people since modern times began. It is also the common aspiration of people of all countries. In pursuing modernization, a country needs to follow certain general patterns. More importantly, it should proceed from its own realities and develop its own features," Xi said.
As China is now building a strong country and advancing national rejuvenation on all fronts through a Chinese path to modernization, the country will provide new opportunities for global development with new accomplishments in Chinese modernization, lend new impetus to humanity's search for paths toward modernization and better social systems, and work with all countries to advance the building of a community with a shared future for mankind, Xi noted.
The modernization of China with such a huge population will be a stronger boost for global economic recovery, Chinese State Councilor and Foreign Minister Qin Gang said when delivering a keynote speech at the opening ceremony of the forum. With over 1.4 billion people on course toward modernization, a number larger than the combined population of all developed countries, China will give a much stronger impetus for the global economy, he noted.
China will defend the right to development of all countries with greater determination, Qin stressed. He pointed out that modernization is an inalienable right of every country, not a privilege reserved for a few. Those who have realized modernization should not tear down the bridge or block other countries' path to modernization and they should not suppress, contain or stop other countries that choose a different path to modernization.
Posted by: uncle tungsten | Apr 22 2023 1:37 utc | 98
" I agree with your point and I can see many reasons why China was a long term participant in coronavirus research.
One would have to be naive in the extreme to think otherwise.
Posted by: uncle tungsten | Apr 22 2023 1:24 utc | 96 "
Fair points, however, why do folks always make grandiose explanations for something that should be fairly simple.
The US had a lab on Chinese soil " researching " highly infectious diseases. Does China have that kind of lab in the US ? Does any other nation ? The answer is obvious, so why would China allow the duplicitous US to do that ? Its criminal negligence, however, the Chinese are too smart to be that negligent so the possible answers must lie somewhere else.
Posted by: Deplorable Commissar | Apr 22 2023 1:47 utc | 99
" China's latest scientific finding, published a short while ago, indicates the overwhelming likelihood of spread of COVID virus was human to human. In China it started in the seafood market in Wuhan. The likelihood of lab release is close to nil. The finding is supported by scientific vigor.
Posted by: Oriental Voice | Apr 22 2023 1:12 utc | 94 "
I'm sorry you believe that.
Posted by: Deplorable Commissar | Apr 22 2023 1:50 utc | 100
The comments to this entry are closed.
Captain Ahab's domestic policy.
Posted by: Not Ewe | Apr 21 2023 17:29 utc | 1