First off, we've been hearing about the demise and replacement of US capitalism in the world markets for years. Brazil, the pre-China, was supposed to be the great replacement, then it was going to be the EU, then Japan, then the "Asian Tigers," then China, then the BRICS, then China, then--whatever. OPEC? Did I leave out OPEC? One more or one less, no matter.
Secondly for all the homage paid to Lenin's Imperialism people seem to forget about the overwhelming dominance of US finance capital in the global markets, both in the private sector and the sovereign. When the next financial collapse occurs, exactly to whom are the states, the private capitalists, going to turn for "safety"? China? No way. China doesn't want any of that responsibility. Nobody's going to ask the PBC to establish open-ended currency swap lines with the yuan or the renminbi to rescue global exchange. Thirdly, none of the above prevents the US bourgeoisie from recognizing China's growth as a threat in a world where trade growth has slowed and even slipped into negative territory, and overproduction of everything from solar panels to steel to autos overwhelms capital accumulation, like the picture of Dorian Gray overwhelms Dorian Gray. Can the US be displaced from its premiership? Of course. But not without violent disruption of capitalism as a whole, the kind of violence and disruption embodied in depression and war. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#35374): https://groups.io/g/marxmail/message/35374 Mute This Topic: https://groups.io/mt/111336789/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
