4 ms·
I'm reading "Trade Wars are Class Wars" by Klein and Pettis. The thesis is in the title and his case is convincing. American elites have every reason to give Xi
by jjoonathan 3y ago
I'm reading "Trade Wars are Class Wars" by Klein and Pettis. The thesis is in the title and his case is convincing. American elites have every reason to give Xi a standing ovation: his oppression of the Chinese worker has played a key role in pumping American assets into the stratosphere and subduing American labor interests. Not only do they love him for it, they should love him for it.
You and I? Maybe not so much.
- enterprise_cog 3y agoHow has he suppressed the Chinese worker?
- jjoonathan 3y agoTWCW cites 40% labor-share-of-value-add (vs 70% typical) as the macro figure and gives the hukou system as one example of policy that achieves this outcome.