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Liz Truss urges world leaders to follow UK with trickle down economics

theguardian.com

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Re: Liz Truss urges world leaders to follow UK with trickle down economics

#61
post #24

UK has no place to lecture anyone else on economic management. The country has one of the lowest growth rates in Europe, has crashed exports to its biggest market, maintained imports by simply waiving customs checks opening up the domestic market for all kinds of fraud, has signed one-sided free trade deals for the newspaper headlines, introducing competition to those domestic producers for no equivalent gain for exp…

> also deciding to escalate hostilities with China, the world second largest economy After what Russia has done to Ukraine, I sincerely hope more democracies put values before trade. UK is doing what everyone else should be doing, but don't have the courage to. Not something to be ashamed of.

This "democracies vs dictatorships" spin is just that, a nice story for the public. But this is not how countries operate and they have no values when it comes to international relations, only interests. You'll also notice that it's only some authoritarian countries that are 'problematic' otherwise are 'good friends'...

China is becoming powerful, so it is a threat to the established, Western, order and especially the supremacy of the US. That's the real issue. If tomorrow China became a democracy it wouldn't be any less of a threat, and in fact it might become a more formidable threat.

Re: Liz Truss urges world leaders to follow UK with trickle down economics

#62

Earlier quoted context omitted.

While im no fan of Saudi Arabia, I wouldn’t go calling this pandering. China has long considered the West an enemy, and has been an abusive trading partner. It’s high time the UK stands up for itself.

this is projection - the hostility is pretty much one way from West to East. You can even see when the mood changed, post GFC, when China stopped buying US T-bills

Abusive trading partner in the strict sense of goods trading, not sure. But China requires or used to require (some / interesting / all?) foreign countries operating in the country to create joint ventures with Chinese companies. Probably done to transfer know-how, possibly profits, and to keep control. Volkswagen had the foresight to enter China early (as it did decades earlier in Brazil), and it had to do that.

Re: Liz Truss urges world leaders to follow UK with trickle down economics

#63

Earlier quoted context omitted.

this is projection - the hostility is pretty much one way from West to East. You can even see when the mood changed, post GFC, when China stopped buying US T-bills

Abusive trading partner in the strict sense of goods trading, not sure. But China requires or used to require (some / interesting / all?) foreign countries operating in the country to create joint ventures with Chinese companies. Probably done to transfer know-how, possibly profits, and to keep control. Volkswagen had the foresight to enter China early (as it did decades earlier in Brazil), and it had to do that.

protectionism of this sort is basically how all the East Asian tigers developed from being as impoverished as Africa in 1950's to where they all are now. It's a problem now because the unbroken period of 400 years + pf Western hegemony might finally be under challenge by a country who is big enough not routinely bend the knee

Re: Liz Truss urges world leaders to follow UK with trickle down economics

#64

Earlier quoted context omitted.

this is projection - the hostility is pretty much one way from West to East. You can even see when the mood changed, post GFC, when China stopped buying US T-bills

Abusive trading partner in the strict sense of goods trading, not sure. But China requires or used to require (some / interesting / all?) foreign countries operating in the country to create joint ventures with Chinese companies. Probably done to transfer know-how, possibly profits, and to keep control. Volkswagen had the foresight to enter China early (as it did decades earlier in Brazil), and it had to do that.

*foreign companies
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