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I don't know much economics, but the article seems absurd on several points. - China can nationalize anything on their territory, including banks, buildings, l
by M95D 1y ago
I don't know much economics, but the article seems absurd on several points.
- China can nationalize anything on their territory, including banks, buildings, land. Bank debt is not a real problem. Money aren't real. Imports/exports flows are very much in their favor whatever the currency.
- None of the things listed as China needs from US are really needed for their survival. What a nation needs to survive is locally produced goods (incl. food) and energy, and AFAIK, they have both in abundance.
The list can be simplified to:
1) continued access to tech advancements, without which they'll keep on improving on their own with less speed, but let's be honest, we mostly hate this new tech invading our lives. The 7nm they have is good enough for everything, incl. AI.
2) Access to US and allies markets. Seriously?? What US allies? EU, Africa and S.America will happily trade with them without the US.
3) Art. They can just pirate that one. In fact, once decoupling gets to a certain point, they can just ignore copyright completely. No copyright matches communism perfectly, if they ever think of going back to it.
- On the other hand, the things US needs from China will really crash the standard of living, not just the economy, until US replaces all the factories lost in China, and there are a lot of factories to replace. I don't even think US can easily replace the factories themselves without China.
I'm actually a bit scared of Russia resources and industrial design/research + China manufacturing. Just 2 things need to happen and the rest of the world is fcked for the next 100 years: Russia to get real leader(s) interested in their country, not personal profit/status, and China to address their reputation (see Poorly Made In China).