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  1. Zugzwang
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    24 Jun '19 20:072 edits
    https://www.theguardian.com/commentisfree/2019/jun/23/china-america-economic-system-xi-jinping-trump

    "Forget China – it's America's own economic system that's broken.
    US weakness is inbuilt – the big 500 companies owe loyalty only to
    themselves and the public is shut out from prosperity."
    --Robert Reich

    "But Xi won’t agree to change China’s economic system. Why should he?

    The American economic system is focused on maximizing shareholder returns.
    And it’s achieving that goal: on Friday, the S&P 500 notched a new all-time high.
    But average Americans have seen no significant gains in their incomes for
    four decades, adjusted for inflation.

    China’s economic system, by contrast, is focused on maximizing China.
    And it’s achieving that goal. Forty years ago China was still backward and agrarian.
    Today it’s the world’s second-largest economy, home to the world’s
    biggest auto industry and some of the world’s most powerful technology companies.
    Over the last four decades, hundreds of millions of Chinese people
    have been lifted out of poverty."

    "These giant corporations have no particular allegiance to America.
    Their only allegiance and responsibility is to their shareholders.

    They’ll do whatever is necessary to get their share prices as high as
    possible – including keeping wages down, fighting unions, reclassifying
    employees as independent contractors, outsourcing anywhere around
    world where parts are cheapest, shifting their profits around the world
    wherever taxes are lowest, and paying their top CEOs ludicrous sums."

    "The American system relies on taxes, subsidies and regulations to
    coax corporations to act in the interest of the American public.
    But these levers have proven weak relative to the overriding
    corporate goal of maximizing shareholder returns.

    Last week, for example, Walmart, American’s largest employer, announced
    it would lay off 570 employees despite taking home more than $2bn
    courtesy of Trump and the Republican corporate tax cuts. Last year,
    the company closed dozens of Sam’s Club stores, leaving thousands
    of Americans out of work.

    At the same time, Walmart has plowed more than $20bn into buying
    back shares of its own stock, which boosts the pay of Walmart executives
    and enriches wealthy investors but does nothing for the economy."

    "But wait. America is a democracy and China is a dictatorship, right?
    True, but most Americans have little or no influence on public policy
    – which is why the Trump tax cut did so little for them.

    That’s the conclusion of professors Martin Gilens of Princeton and Benjamin Page
    of Northwestern, who analyzed 1,799 policy issues before Congress and found
    that “the preferences of the average American appear to have only a minuscule,
    near-zero, statistically non-significant impact upon public policy”."

    "China isn’t the reason half of America hasn’t had a raise in four decades.
    The simple fact is Americans cannot thrive within a system run largely by
    big American corporations, organized to boost their share prices
    but not boost Americans."
  2. SubscriberPatzering
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    24 Jun '19 20:12
    Ok 🤔
    So what is to be done?
  3. Joined
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    24 Jun '19 20:29
    @duchess64 said
    https://www.theguardian.com/commentisfree/2019/jun/23/china-america-economic-system-xi-jinping-trump

    "Forget China – it's America's own economic system that's broken.
    US weakness is inbuilt – the big 500 companies owe loyalty only to
    themselves and the public is shut out from prosperity."
    --Robert Reich

    "But Xi won’t agree to change China’s economic system. Why s ...[text shortened]... ely by
    big American corporations, organized to boost their share prices
    but not boost Americans."
    Your post is a bit fractured due to referring to the US as a democracy when it is in fact a Republic.


    Secondly, many websites and smart economists (FOX Biz and CNBC et al) will tell you China couldn’t catch us in 100 years. You are About to see the United States use its economic power to exert leverage on any country it wants to. You will see it today, turn on the news and you’ll see it tomorrow. Trump, through his finagling to get us oil independent, can easily push Iran around. Can you see Obama doing that? China not even near the successes we achieve every day, even as the Trump haters scream their guts out. BTW has anyone figured out yet what the Democrats can do that Trump has not already done ?

    A good trump test we are about to witness is whether he can get India, China et al to stop buying oil from Iran. That’ll be tough.
  4. SubscriberAThousandYoung
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    24 Jun '19 20:39
    @averagejoe1 said
    Your post is a bit fractured due to referring to the US as a democracy when it is in fact a Republic.


    Secondly, many websites and smart economists (FOX Biz and CNBC et al) will tell you China couldn’t catch us in 100 years. You are About to see the United States use its economic power to exert leverage on any country it wants to. You will see it today, turn on the n ...[text shortened]... to witness is whether he can get India, China et al to stop buying oil from Iran. That’ll be tough.
    A Republic is a Democracy pendejo
  5. Zugzwang
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    24 Jun '19 20:453 edits
    @averagejoe1 said
    Your post is a bit fractured due to referring to the US as a democracy when it is in fact a Republic.


    Secondly, many websites and smart economists (FOX Biz and CNBC et al) will tell you China couldn’t catch us in 100 years. You are About to see the United States use its economic power to exert leverage on any country it wants to. You will see it today, turn on the n ...[text shortened]... to witness is whether he can get India, China et al to stop buying oil from Iran. That’ll be tough.
    Averagejoe1 keeps showing his abysmal ignorance (on about everything).
    No wonder the extremely gullible nearly illiterate Averagejoe1 apparently worships Donald Trump.

    In fact, China already has a larger GDP (PPP) than the USA.
    https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

    Every reputable economist (in contrast to right-wing American propagandists)
    projects that China's GDP (nominal) will surpass the USA's within a few decades (at most).
  6. Standard memberDeepThought
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    24 Jun '19 21:38
    @athousandyoung said
    A Republic is a Democracy pendejo
    You think the People's Republic of China is a democracy?
  7. SubscriberAThousandYoung
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    24 Jun '19 21:52
    @deepthought said
    You think the People's Republic of China is a democracy?
    It claims to be. Do you think the PRC is a Republic?
  8. Zugzwang
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    24 Jun '19 21:541 edit
    @athousandyoung said
    It claims to be. Do you think the PRC is a Republic?
    (AThousandYoung replied to DeepThought.)

    The Democratic People's Republic of Korea (DPRK) claims to be democratic.

    Can AThousandYoung QUOTE any official statement by its government declaring
    that the People's Republic of China is a democracy?
  9. Germany
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    24 Jun '19 21:58
    @athousandyoung said
    A Republic is a Democracy pendejo
    A republic is a form of government where the head of state is not a hereditary position. This can be a democracy but also, e.g., a dictatorship.

    https://en.wikipedia.org/wiki/Republic
  10. SubscriberAThousandYoung
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    24 Jun '19 22:03
    @duchess64 said
    (AThousandYoung replied to DeepThought.)

    The Democratic People's Republic of Korea (DPRK) claims to be democratic.

    Can AThousandYoung QUOTE any official statement by its government declaring
    that the People's Republic of China is a democracy?
    First of all, yes.

    http://en.people.cn/constitution/constitution.html

    Chinese people of all nationalities will continue to adhere to the people's democratic dictatorship and the socialist road, persevere in reform and opening to the outside world."


    Second, it doesn’t matter. If it is a Republic than it is a Democracy. If it is not a Democracy than it is not a Republic. Many countries use the word ‘Republic’ in a deceptive way that implies the people have power to elect representatives when they actually don’t.
  11. SubscriberAThousandYoung
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    24 Jun '19 22:08
    @kazetnagorra said
    A republic is a form of government where the head of state is not a hereditary position. This can be a democracy but also, e.g., a dictatorship.

    https://en.wikipedia.org/wiki/Republic
    https://www.dictionary.com/browse/republic

    1. A state in which the supreme power rests in the body of citizens entitled to vote and is exercised by representatives chosen directly or indirectly by them.
  12. Zugzwang
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    24 Jun '19 22:09
    @athousandyoung said
    First of all, yes.

    http://en.people.cn/constitution/constitution.html

    Chinese people of all nationalities will continue to adhere to the people's democratic dictatorship and the socialist road, persevere in reform and opening to the outside world."


    Second, it doesn’t matter. If it is a Republic than it is a Democracy. If it is not a Democracy ...[text shortened]... deceptive way that implies the people have power to elect representatives when they actually don’t.
    Why does AThousandYoung regard "democratic dictatorship" (whatever that means)
    as meaning a democracy, but not a dictatorship?
  13. Joined
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    24 Jun '19 22:09
    @duchess64 said
    Averagejoe1 keeps showing his abysmal ignorance (on about everything).
    No wonder the extremely gullible nearly illiterate Averagejoe1 apparently worships Donald Trump.

    In fact, China already has a larger GDP (PPP) than the USA.
    https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

    Every reputable economist (in contrast to right-wing American propagandists)
    projects that China's GDP (nominal) will surpass the USA's within a few decades (at most).
    This subject is frankly too ‘big’ for me to get into, since it is a ‘factually based” thread, a lot of detail readily searchable, no point just throwing facts at each other, I respectfully abstain. But I leave with this.....

    Even tho China is ahead in GDP, step back a bit and take note: China GDP “per Capita” is One Third that of the USA. Go Trump.
  14. SubscriberAThousandYoung
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    24 Jun '19 22:10
    @duchess64 said
    Why does AThousandYoung regard "democratic dictatorship" (whatever that means)
    as meaning a democracy, but not a dictatorship?
    It does mean a dictatorship. It is a paradox. China uses words like ‘democratic’ and ‘republic’ simply because it sounds good and makes good propaganda.
  15. Zugzwang
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    24 Jun '19 22:11
    @averagejoe1 said
    This subject is frankly too ‘big’ for me to get into, since it is a ‘factually based” thread, a lot of detail readily searchable, no point just throwing facts at each other, I respectfully abstain. But I leave with this.....

    Even tho China is ahead in GDP, step back a bit and take note: China GDP “per Capita” is One Third that of the USA. Go Trump.
    "This subject is frankly too ‘big’ for me to get into, since it is a ‘factually based” thread..."
    --Averagejoe1

    Whereas Averagejoe1 prefers to dwell in his cherished right-wing propaganda fantasy world...
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