by 90% of the Chinese are home owners, says Ellen Brown, and by the time they are 35 years old most own their own homes. Okay, they are smaller and not as well built, but Chinese debt is a lot lower as the government subsidizes health care, education, transport, and its industries. The Chinese have lower wages but their cost of living is a lot less.Bannon says these subsidies are unfair, and that the Chinese use their vast army of slaves to economically take over the world. A trade war is not about trade, says Bannon, it's about warfare. But the West once had a system of state subsidies and free university education, which made us strong and helped our economies, so why don't we go back to that to level the playing field?Labour would like to improve the NHS, renationalise the railways,
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Bannon says these subsidies are unfair, and that the Chinese use their vast army of slaves to economically take over the world. A trade war is not about trade, says Bannon, it's about warfare. But the West once had a system of state subsidies and free university education, which made us strong and helped our economies, so why don't we go back to that to level the playing field?
Labour would like to improve the NHS, renationalise the railways, improve regulations on the energy supply to lower costs, etc, but this could give British companies a competitive edge in the global market which could be deemed unfair. And I would like to see more trains all over the U.K. taking much of the lorries off the roads too. So, perhaps the answer is for economists and mathematicians to work out the correct tarrifs, or for all countries to abandon the destructive neoliberal system and adopt a mixed economy instead.
The neoliberal globalisation destroys democracy because the British people support the NHS and some renationalisation. And who sets the international neoliberal free trade system and what say do we have in it?
Below is very MMT.
Steve Bannon on the trade war.
Gen. Robert Spalding on the trade war.