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US corps get more than 3x the subsidies than Chinese companies. The problem is they use this cash for stock buybacks rather than investment.
And that’s direct subsidies only, not counting rebates and tax concessions which are an order of magnitude greater. US companies are extremely coddled and subsidized.
Libs: "but but but ebil SeeSeePee is doing uncompetitive subsidizing!!!!"
Just as an aside do you have a source for that? It'd be good for dunking on libs that think that they're being more "fair" in their so-called free market
https://www.hoover.org/research/welfare-well-how-business-subsidies-fleece-taxpayers
And fuck I just realized this article is from 1999 so it is probably closer to a trillion now
There's an incredible talk from Jake Sullivan talk where he admits that the whole free market bullshit they've been promoting can't actually compete with what China is doing. It's an absolutely amazing read. Some choice quotes from it:
He also opined that the market is far from being able to regulate everything, and "in the name of overly simplified market efficiency, entire supply chains of strategic goods, along with the industries and jobs that produced them, were moved abroad."
Another problem he identified is the growth of the financial sector to the detriment of the industrial and infrastructure sectors, which is why many industries "atrophied" and industrial capacities "seriously suffered."
Finally, he admitted that colonization and westernization of countries through globalization has failed:
Sullivan cited China as an example:
In his opinion, all this has led to dangerous consequences for the US led hegemony:
At the same time, according to him, the United States does not intend to isolate itself from China.
Maybe spending a trillion dollars a year on the military instead of investing in productive capacity is a bad idea
What makes it funnier is that much of the military procurement ends up being ultimately sourced in China as well.
nah this allows the easy MIC QA service grift of employing leagues of contractors to verify that China hasn't snuck anything into all the military stuff we buy from them
yup