this post was submitted on 11 Dec 2025
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Sino
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The British empire was a global creditor. The post-Bretton Woods US empire is a global debtor. Huge difference here.
The British empire needed gold. The US empire simply has to type in a number into the computers. Huge difference here.
The idea of a trillion dollar surplus is just insanity. It means, in a very simplistic sense, Chinese workers breaking their backs producing 1 trillion dollar of surplus values while getting no real goods and services in return. How is that not exploitation?
If your idea of socialism is workers from Global South countries working hard to send cheap goods and services for wealthy Global North countries to enjoy while receiving no real benefits in return but a mere number in bank account, which in turn perpetuate neo-colonial exploitation and surplus value extraction, then so be it, but understand that this is just Western left wing crypto-imperialism.
The US empire is not sustainable. It will collapse and it is already collapsing.
I'm not saying Chinese labor isn't being exploited but also I would say that a 500% increase in average real wages over the last few decades plus the general year over year increases in standards of living and quality of infrastructure isn't "getting nothing to show for it"
I'm sitting in america getting paid less every year in real terms due to inflation watching everything around me literally crumble
You can have well paid workers with 500% increase in real wages without having to rely on running an export-led growth strategy. That’s my point.
It is neoliberal ideology that made countries do that.