During US Treasury Secretary Janet Yellen’s recent visit to Beijing, she asked China to stop over-subsidising its green tech industry, saying, “China is now simply too large for the rest of the world to absorb this enormous capacity.” Her real concern, however, is that cheaper Chinese products are
Another outstanding insight into the folly of the West's Greedy form of Capitalism, and backing artillery & military support to Countries purely for greed, with no hint of concern for the genocide those weapons are causing!
I've heard a couple of people (MMT supporters) say what matters is stuff not money meaning that China is sending us lots of stuff in return for dollars, pounds, and euros etc., and this is a great deal for currency issuers because they can alway create more of their currency in a process much simpler and cheaper than actually manufacturing solar panels and electric cars for instance.
The problem with not making “stuff” is that the value of your currency will fall, which is what we’re seeing with the $, £ snd €. A currency is only as strong as the economy, goods and services. It has no intrinsic value. So stuff people need and want matters. The west by focussing on financial services, asset price speculation and war has undermined itself.
I understand that the value of a currency depends on a country's skills and resources and I'm not suggesting we should not make stuff but we'll never compete with China is many areas of manufacturing.
What the UK should do is take back control of its energy, water, transport and NHS and invest in improving these essential public services. They need only look at what the Attlee govt did post-war. Sadly, ELINO is joined at the hip with the wealthy elites/donors/City of London and dare not upset them. They chose Starmer for that very reason - he's their tool to maintain control and continue the flow of wealth from the bottom to the rotten top.
Another outstanding insight into the folly of the West's Greedy form of Capitalism, and backing artillery & military support to Countries purely for greed, with no hint of concern for the genocide those weapons are causing!
comeuppance?
She's basically asking China to stop being so productive - the sclerotic west just can't keep up!
I've heard a couple of people (MMT supporters) say what matters is stuff not money meaning that China is sending us lots of stuff in return for dollars, pounds, and euros etc., and this is a great deal for currency issuers because they can alway create more of their currency in a process much simpler and cheaper than actually manufacturing solar panels and electric cars for instance.
The problem with not making “stuff” is that the value of your currency will fall, which is what we’re seeing with the $, £ snd €. A currency is only as strong as the economy, goods and services. It has no intrinsic value. So stuff people need and want matters. The west by focussing on financial services, asset price speculation and war has undermined itself.
I understand that the value of a currency depends on a country's skills and resources and I'm not suggesting we should not make stuff but we'll never compete with China is many areas of manufacturing.
What the UK should do is take back control of its energy, water, transport and NHS and invest in improving these essential public services. They need only look at what the Attlee govt did post-war. Sadly, ELINO is joined at the hip with the wealthy elites/donors/City of London and dare not upset them. They chose Starmer for that very reason - he's their tool to maintain control and continue the flow of wealth from the bottom to the rotten top.
It’s ironic that western-style financial capitalism needs to manipulate the market to compete