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Deindustrialization

China Is ‘World’s Sole Manufacturing Superpower’, 35% Of Global Output

January 31, 2024 Ben Norton, Geopolitical Economy. , , ,
China has overseen world-historic economic growth through a government-led development model, in which state-owned enterprises control the natural monopolies and “commanding heights” of the economy, state-owned banks give favorable loans to strategic industries, and the state’s robust industrial policy helps the country move up the value chain toward higher value-added forms of production. This model, which Beijing officially refers to as a socialist market economy, has been so successful that a prominent European think tank has acknowledged that “China is now the world’s sole manufacturing superpower”. In 2020, China made up a staggering 35% of global gross manufacturing production.

Russell Banks, John Brown And The American Soul

January 17, 2023 Chris Hedges, Scheer Post. , , ,
The deep malaise that defines American society — the rage, despair and widespread feelings of betrayal and loss — is rarely captured and almost never explained in the pages of newspapers or on screens. To grasp what has happened to the United States, the savage economic and emotional cost of deindustrialization; the destruction of our democratic institutions; the Neolithic violence that sees us beset with almost daily mass shootings in malls, offices, schools and movie theaters; the rise of the militarized state; and the consolidation of national wealth by a tiny cabal of corrupt bankers and corporations, we must turn to our artists, poets and writers. Foremost among writers who explored our peculiar American zeitgeist was the novelist Russell Banks, who died on January 7th at the age of 82.

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