- cross-posted to:
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- cross-posted to:
- [email protected]
cross-posted from : https://lemmy.zip/post/57182782
Carney told reporters on Friday that “the world has changed” in recent years, and the progress made with China sets Canada up “well for the new world order”.
Canada’s relationship with China, he added, had become “more predictable” than its relationship with the US under the Trump administration.
Sure but the ruling classes of those developing countries make out too it’s not just american companies. As I said China very conspicuously got industrialized at wall street’s expense so they could undercut union labor and environmental protections. They got all the technologist of the west, their factories built. They have their own billionaires now. So it’s not just a US rich problem although they lead it and perhaps authored this latest iteration of the class war. It’s a super rich problem. They all are the problem.
And as you were saying it is inevitable without counter balancing forces companies cannot help but destroy the conditions that made them successful in the first place. They organized and destroyed forces that held them in check, and soon will be destroyed by it one way and or another, as the political monster they created on the right escapes their control and turns on them. After the downturns start for the purpose of seizing their assets. In any case they will lose from lower economic conditions.
The ruling class in such countries are almost always hand selected to protect American interests in the region. They’re compensated under the table to sell out their countrymen.
I wouldn’t agree that it was at wall street’s expense. American companies went into China willingly and agreed to those terms, eager for potential cost savings in return. One of the most notorious examples is Zuckerberg going out of his way to learn Mandarin, looking for any advantage to get Meta into China. China has played its cards quite intelligently, utilizing the foundation of unchecked greed in American corporate practice to build itself to its current position while the US government either fell asleep at the wheel or erroneously assumed that China would eventually assume the role of US vassal, like South Korea or Japan, as it became prosperous.
I agree that unchecked capitalism creates circumstances where the strengths of the free market gets subverted by monopolization and regulatory capture.