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China is suffering its own 'China shock'
- rguiscard 2y agohttps://archive.is/iE23m https://archive.is/iE23m
- ggm 2y agoAs a student in the 70s we started many political meetings with "comrades capitalism is in crisis, now what are we going to do about it" and whilst I no longer attend these kinds of meetings, I do still think it's substantively true. We overproduce goods of declining value and a race to the bottom in cost of production has overtaken any sense of equity in trade. Trumps zero sum deal is now rampant. It's a terrible model. No doubt comrade Adam Smith has a view, but all I know is that trade is in flux and organised labour is in retreat and the fundamental question of labour displacement by robots hasn't been solved. Interesting times. In the Chinese sense.