The capitalist pigs of the West say, "Damn it all, those Chinese folks have saved up far too much! It's time we found a means to impoverish them once more!" (www.ft.com)

submitted 6 months ago by yogthos@lemmygrad.ml to c/genzedong@lemmygrad.ml

16 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[-] culpritus@hexbear.net 25 points 6 months ago* (last edited 6 months ago)

According to the IMF, China generated 28 per cent of total global savings in 2023. This is only a little less than the 33 per cent share of the US and EU combined. That is quite extraordinary. It also has several implications. One is that if China were an open market economy, its capital markets would be the biggest in the world. Another is that how these savings are managed is likely to be the most important single determinant of global interest rates and the global balance of payments.

xi-lib-tears

FT refuting 'China debt trap' myth:

If China wants the mercantilist solution to excess savings it will have to fund smaller emerging and developing countries. It can pretend these are loans. But much of the money will be grants, after the fact. If it ends up funding renewable energy there, that could be good for the world. But, from China’s perspective, it would be a costly gift.

[-] DamarcusArt@lemmygrad.ml 19 points 6 months ago

One is that if China were an open market economy, its capital markets would be the biggest in the world.

Damn, this is a sleazy little sneaky line right here.

"If China were more heavily exploited, those savings would be funneled directly into the profits of western corporations instead of just sitting in their bank accounts."

this post was submitted on 06 Mar 2024

58 points (95.3% liked)

GenZedong

4130 readers

7 users here now

This is a Dengist community in favor of Bashar al-Assad with no information that can lead to the arrest of Hillary Clinton, our fellow liberal and queen. This community is not ironic. We are Marxists-Leninists.

This community is for posts about Marxism and geopolitics (including shitposts to some extent). Serious posts can be posted here or in /c/GenZhou. Reactionary or ultra-leftist cringe posts belong in /c/shitreactionariessay or /c/shitultrassay respectively.

We have a Matrix homeserver and a Matrix space. See this thread for more information. If you believe the server may be down, check the status on status.elara.ws.

Rules:

No bigotry, anti-communism, pro-imperialism or ultra-leftism (anti-AES)
We support indigenous liberation as the primary contradiction in settler colonies like the US, Canada, Australia, New Zealand and Israel
If you post an archived link (excluding archive.org), include the URL of the original article as well
Unless it's an obvious shitpost, include relevant sources
For articles behind paywalls, try to include the text in the post
Mark all posts containing NSFW images as NSFW (including things like Nazi imagery)

founded 3 years ago

MODERATORS

GrainEater@lemmygrad.ml

Elara@lemmygrad.ml

ComradePupIvy@lemmygrad.ml

American_Communist22@lemmygrad.ml