November 18, 2023 –
From Fuck Yeah Marxism-Leninism
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By Michael Roberts

While the leaders ‘talked turkey,’ the economic reality is that U.S. efforts to strangle the Chinese economy are not working. Western ‘experts’ continue their never-ending message that China is close to a debt collapse. If this were really so, then Biden and American capital would have nothing to worry about – but they do worry, and rightly so.

 In previous posts, I have argued that it was a big mistake by the Chinese CP leaders to adopt the Western capitalist model for urban development.  But this does not mean China is about to have a deflationary crash.  China’s net debt to GDP ratio (debt burden) is only 12% of the average in the G7 economies.  The state holds huge financial assets, so it can easily manage this property slump.

China

xi jinping

joe biden

apec

imperialism

socialism

cpc

capitalist reforms

New Cold War

economy

Struggle la Lucha



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