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Sixteen years on the streets, living and working with the people of China, Jeff

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Article

Top US economists admit defeat and go to China with begging cup in hand: colonial-capitalism is getting its butt kicked around the world by many shades of communism

This is beyond funny. I’ve got a couple of articles here I’d like to share with you. It’s just unbelievable. The first one is entitled, China’s incredible growth threatens American and EU economies. This first one is from Russia Today (https://www.rt.com/business/595434-us-eu-china-economies/).

The subtitle is, Beijing’s “non-market” policies should be rebuffed through appropriate “countermeasures”, Katherine Tai said. Katherine Tai is the US Trade Representative. In Brussels, she said market-based US and European economies were struggling to survive against China’s “very effective” alternative economic model (emphasis mine, more later).

Here are some of the things that she said,

I think what we see in terms of the challenge that we have from China is the ability for our firms to be able to survive in competition with a very effective economic system (emphasis mine, more later).

The trade official described China as,

A system that we’ve articulated as being non-market based (emphasis mine, more later), as being fundamentally nurtured differently, against which a market-based system like ours is going to have trouble competing against and surviving.

Get a load of this. Tai argued that,

Unless the US and EU figure out a way to defend the way their economies work, we know what’s going to happen and it’s going to have significantly damaging economic and political outcomes for our systems.

The US trade chief called for defensive policies such as tariffs, as well as measures that are more on the offense, including incentive measures to correct a market dynamic that is not playing out in our favor (emphasis mine, more later). She pointed out China’s high production of steel, aluminum, solar panels and electric vehicles as specific causes of concern.

Tai admitted that it is China’s incredible economic growth that is a key factor in the tensions between the two countries.

And here’s the other article in the South China Morning Post (https://www.scmp.com/economy/china-economy/article/3257994/janet-yellen-china-overcapacity-high-agenda-secretary-takes-swipe-exports).

Janet Yellen, is the US Secretary of Treasury. She’s in China right now. This is not her first trip. The article title says,

Janet Yellen in China: overcapacity high on the agenda as secretary takes swipe at exports

• US Treasury secretary Janet Yellen brought up excess industrial capacity in first stop of China trip, indicating the likely sticking point in coming talks.
• Topic was also high on agenda in meetings between Chinese commerce official and counterparts in Washington, with pressure unlikely to let up.

She’s in Guangzhou. My wife and I lived in Shenzhen for three years, 2016 to 2019. Before that, we lived in Beijing, 2010 to 2016. And of course, we lived in Beijing from 1990 to 1997. Shenzhen is the second biggest city in Guangdong after Guangzhou, which is the capital. Shenzhen is right across the river from Hong Kong.

Yellen met Guangdong governor Wang Weizhong, who runs this provincial powerhouse. This province alone has the 13^th largest GDP in the world. Guangdong hosts one of the biggest clusters of Western companies, including ExxonMobil, Procter & Gamble and Amway, not to mention Rolls Royce Aerospace, Rolex, Intel, Siemens, Michelin, Dell, Amazon, Apple, Microsoft, Nokia, BMW, Mercedes Benz, Volkswagen and BASF, among many. There are thousands of American, European, Japanese and South Korean companies, not only in Guangdong, but all over the country.

Guangdong is also home to some of China’s largest electric vehicle (EV) makers, including Shenzhen based, rising juggernaut BYD. Other bogeymen for the West that are headquartered in Shenzhen include Tencent, Huawei, ZTE, DJI, China Merchants Bank, Ping’an Insurance and Vanke Real Estate (https://www.value.today/headquarters/shenzhen).

If you did not read my last article about electric cars, I will include the link. It is really fascinating if you have not (https://chinarising.puntopress.com/2024/04/03/the-down-and-dirty-on-global-electric-vehicles-and-why-china-is-running-away-with-the-prize-china-rising-radio-sinoland-240403/).

Janet Yellen said at an American Chamber of Commerce in China event on Friday in Guangzhou,

Direct and indirect government support is leading to capacity significantly exceeding China’s domestic demand, as well as what the global market can bear… Overcapacity can lead to large volumes of exports at depressed prices, undercutting American firms and workers, as well as those around the world, including India and Mexico. And it can lead to over concentration of supply chains, risking global economic resilience. China is too large to export its way to rapid growth (emphasis mine, more later)… If policies are oriented only at generating supply and not demand, global spillovers will result. Addressing overcapacity – and more generally considering market-based reforms – is in China’s interest (emphasis mine, more later). This will be a key topic in [my] discussions with counterparts in the coming days,

Lu Xiang, a senior researcher at the Chinese Academy of Social Sciences said,

Her Chinese counterparts hope to use face-to-face interactions to explain some economic basics (emphasis mine, more later).

China’s Minister of Commerce, Wang Wentao minces no words,

One fact is that the woes of old, outdated production capacity in the US cannot be glossed over by the exaggerated talk of China’s EV over-capacity… The US’s less competitive industries cannot be protected by hobbling China’s rise in new sectors.

That sure sounds right to me.

Lu Xiang commented,

Beijing sees its hard-won lead in new green industries as its new competitiveness and won’t back down when few “excess” Chinese green products are being sold to the US… US concerns are not justified, unlike the inroads made in Europe by Chinese manufacturers, not a single Chinese EV has been exported to the US… They fear once the door is open for Chinese products, uncompetitive American companies could be flooded away.

All right, what does all this mean?

Alternative economic model.

A very effective economic system.

Non-market based (system).

To correct a market dynamic that is not playing out in our favor.

China is too large to export its way to rapid growth.

Addressing overcapacity – and more generally considering market-based reforms – is in China’s interest.

Alternative economic model, a very effective economic system and non-market based (system) are coded doublespeak for communism-socialism. That’s what’s killing Western capitalism. Western capitalism cannot compete on a level playing field with a communist-socialist economy like China’s.

Beginning in 1945, after World War Two, the West was only able to create a stalemate with the Soviet Union, no more. After the fall of the Soviet Union in 1990, the colonial-capitalist West has been able to crush smaller communist-socialist countries like Iran, Venezuela, Cuba, Eritrea, DPRK/North Korea, etc., and the list goes on and on. These and many other countries with various shades of communism-socialism are trying to break free from Western exploitation and enslavement, because that is what Western colonial-capitalism does.

Chinese companies have long-term vision and are happy to accept the single-digit profits (http://chinarising.puntopress.com/2017/08/31/why-is-china-tech-smoking-the-west-because-they-have-socialist-vision-china-rising-radio-sinoland-170831/ and https://chinarising.puntopress.com/2022/05/09/book-review-of-visionaries-what-company-in-its-right-mind-would-divulge-all-its-financial-and-accounting-problems-and-how-they-were-fixed-that-would-be-huawei-china-rising-radio/). Western colonial-capitalist countries want double- and triple-digit profits. They want to steal it. They want to exploit the resources, both human and natural, in the countries they can control.

Western colonial-capitalism is robber baron. Rape and plunder. Western colonial-capitalism cannot compete against Chinese communist-socialist economic policies, which Tai and Yellen admit are,

(An) alternative economic model.

A very effective economic system.

• Non-market based (system).

Of course, China’s system is mixed. I’ve also done articles about this (https://chinarising.puntopress.com/2022/12/04/rebuttal-to-china-is-capitalist-the-religiosity-of-the-myth-of-chinese-capitalism-by-ron-leighton-dr-t-p-wilkinson-interviews-jeff-j-brown/). China is not 100% communist-socialist. It’s called socialism with Chinese characteristics. Essentially, it is capitalist at the retail level and communist-socialist everywhere else in the economy. China was 100% communist-socialist from 1949 to 1980 and did extremely well, by the way, in spite of all the Western Big Lie Propaganda Machine vomit to the contrary (https://chinarising.puntopress.com/2024/01/03/the-mao-encyclopedia-for-dummies-updated-and-its-all-here-books-articles-movies-visuals-china-rising-radio-sinoland-240103/). The only country in the world that is purely communist-socialist is, in my opinion, DPRK/North Korea.

Thus, this is a gigantic admission from two very important American economists, the need,

To correct a market dynamic that is not playing out in our favor.

Tai and Yellen are “crying uncle”, throwing in the towel. They know the gig’s up. Western colonial-capitalism is getting its ass whipped up and down the global street by Baba Beijing. How pathetic for Western empire that Yellen has to go to China, hat in hand to beg that,

China is too large to export its way to rapid growth.

Addressing overcapacity – and more generally considering market-based reforms – is in China’s interest.

Meaning stop working so hard, stop innovating and be just like us.

This is very, very difficult for Westerners to accept. They cannot admit that communism-socialism is better than colonial-capitalism. But that’s the way it is. This is not new. This has not only been since China became a communist-socialist country in 1949. As I wrote in The China Trilogy (https://chinarising.puntopress.com/2018/06/30/praise-for-the-china-trilogy-the-votes-are-in-it-r-o-c-k-s-what-are-you-waiting-for/), Chinese civilization has been communist-socialist for 5,000 years, as were the vast majority of Native peoples across the world, before they were destroyed by 500 years of Western colonial-capitalism. Not communist in the theoretical, “Karl Marx” political sense, but communist in sociocultural, socioeconomic and governance terms.

For millennia, China had 50% of the world’s people, 50% of the world’s GDP, and 80% of the world’s metropolitan citizens, meaning people who live in cities. It has always been the biggest agricultural producer. It has always been the biggest industrial producer. I just did a recent post about science and technology (https://chinarising.puntopress.com/2024/04/01/the-chinese-have-not-invented-anything-in-the-last-600-years-right-or-how-in-the-1680s-china-became-the-wests-bogeyman-along-with-islam-china-rising-radio-sinoland-240401/). Dr. Joseph Needham, the greatest sinologist of the 20th century, calculated that at least 50% to 60% of the supposed West’s inventions and innovation were actually taken from the Chinese. China has been the leader for 5,000 years in science, technology, engineering, mathematics, invention, innovation, et cetera. I maintain a large database and reference resource on this subject, the content of which is stunning (https://chinarising.puntopress.com/2018/03/20/china-tech-invention-innovation-technology-research-and-development-past-present-future-5000-years-of-progress-a-china-rising-radio-sinoland-living-document/).

This historical advantage for China has gotten even more exaggerated, because of its post-liberation communist-socialist economy. This is why the West cannot compete on a level playing field. The West can only try to crush non-colonial-capitalist countries with sanctions, tariffs, boycotts and blockades. When that doesn’t work, they resort to sabotage and color revolutions. Failing that, they next go for military invasion (and) occupation à la Iraq, Syria, Libya and other places around the world.

Russia is not communist-socialist, but it has a lot more vestiges of its Soviet economic model than Westerners want to admit. There is a huge chunk of Russia’s economy that is state-owned, meaning people-owned. Their economy is more similar to China’s than it is to the United States. Iran, Venezuela, Vietnam, Bolivia, Cambodia, Laos and others have economic systems more similar to China’s than Europe, each uniquely different.

So that’s the story. Chalk up a massive victory for China. Tai and Yellen are asking China to slow down. Don’t produce so much. Don’t work so hard, don’t be so efficient, don’t be so productive. Be like us. Be whores for global banksters, military contractors and the pharmament industry. Otherwise, we can’t compete.

The West does not want to do like BYD, the EV car company in China. It has 100,000 researchers of which 25% have post-graduate degrees. It is the same story for Huawei’s 200,000 employees, who also own the company. All across China, there are thousands of similar examples. Long-term vision, patience, perseverance, sweat, toil and prospering with single-digit profits.

Westerners don’t want to do that, because it costs money. They want easy, cheap money. They want their money by piracy. They want their money by theft. They want their money by extortion. They want their money by blackmail. They want their money by assassination. They want their money by fake news and false flags. Or, like the 1988 and 1997 crashes, when Japan and the Asian Tigers, respectively, were too successful and were getting too rich, currency and market manipulation work wonders to harvest others’ wealth. That’s how Western companies like to operate, because they refuse to accept single-digit returns on investment. They want double, triple-digit.

Ideally, if they can just steal it and enslave the workers, that’s the best model. Of course, another thing is, in Western capitalism, it doesn’t work without monopoly markets and war.

These are two other critical Sino-factors. First, China’s competition at the capitalist retail level is a bloodbath. The weak can’t survive. To prosper, Chinese retailers work their asses off for razor thin margins on huge volumes. There is even fierce competition between all the state-owned enterprises.

Second, China is not at war with anybody. The West is at war with everybody, against the whole world. Therefore, China can obviously afford to be much more domestically efficient, since they’re not trying to occupy the world. They don’t have a thousand military bases on every continent on planet Earth. China is not trying to destroy Russia via Ukraine. China is not trying to destroy West Asia via Palestine.

Western colonial-capitalism needs war and invests heavily in war, at the expense of its people, societies and infrastructure. You can’t have guns and butter. The West loves guns. The Chinese love butter. Well, maybe soybean oil instead!

This is why China is winning the Fourth Industrial Revolution. The Chinese are investing massively and are on the vanguard of AI, robots, 5G, IoT, cloud computing, data analytics and the space race. Baba Beijing has invested trillions of equivalent dollar/euros in super-efficient, extensive, networked infrastructure, which is why no other country has its supply chain integration, logistics and communications.

For you, my dear reader/listener/watcher, all of this is food for thought. I understand your Pavlovian gut reaction to communism-socialism, that for you, it is so depraved, it’s evil. You’ve been brainwashed since your mother’s womb. Thus, I understand and empathize with you, because I was the same way until I was 56 years old.

Nonetheless, the evidence is all around you. First, it’s clear that a country so big as China can just blow off all the West’s sanctions, tariffs, boycotts and blockades. Second, Russia is another anti-colonial-capitalist country that has prospered with all of this horrible pressure that the West is applying on it. Third, even smaller countries like Venezuela and Cuba are surviving. Iran is very socialist and surviving the West’s onslaught. Bolivia is surviving. Eritrea is surviving. Vietnam is thriving. North Korea is thriving, in spite of all of the massive pressure.

Criminally, Western sanctions, tariffs, boycotts and blockades kill millions of people around the world every year. I always say that sanctions are genocide. The West kills a lot of people in these countries, without firing a bullet, yet they survive and often thrive. Just like Russia, communist-socialist countries are doing much better than what the West’s Big Lie Propaganda Machine regurgitates day after day. Imagine where they would be socioeconomically, without trillions of dollars/euros being sucked out of their economies by the West’s undeclared war on them. Better than the crumbling, imploding West, that’s for sure.

In closing, the West is going down the tubes because it wants to hang on to its colonial-capitalist-imperial-robber-baron piracy, theft, rape, plunder and war model to control our Pale Blue Dot. Westerners are governed, not by “elected” leaders, but by the City of London, Wall Street, military contractors and the Pharmament Industry.

After 500 years of being exploited and enslaved, the rest of humanity is strong enough and more and more organized (BRICS, SCO, CELAC, NAM, ASEAN, etc.) to adopt various shades of communist-socialist socioeconomic policies that support the people – not their 1%. The real losers are poor Westerners and their vassals, like the Philippines, Japan and South Korea.

Thank you.

PS from China Writers’ Group member Peter Koenig,

Jeff – this is great and totally agree their “market-based” system doesn’t work.

Why?

Because it is not truly market-base.

It is cheated and manipulated left and right, has nothing to do anymore with a free-market system.

What the Chinese “market adapted” system does – is adjusting to these manipulations and therefore remains competitive.

That’s why Chinese socialism is called “Socialism with Chinese characteristics”.

This is exactly what the world has to understand.

China understood immediately, when they started calling their political system “Socialism with Chinese characteristics” – because socialism as we knew it in the west, has been taken over by – or has sold itself – to “globalism” or globalization”.

So, in our world , there is only “Globalization or globalists” or Anti-globalists… that’s We, US; we are anti-globalists.

We shall continue fighting for federalism and and anti-globalism, to bring back the socialist principles à la Marx with the undertones

—

The trade lady in Brussels, either has no clue, or doesn’t want to admit that globalism is what has destroyed the market. NOT China.

You can quote me anytime my friend

Big HUG

peter

###

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