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After the American led wars in the ME, which may have over half a million people dead, and the financial collapse in 2008, where it bailed out the bankers only, the US is hardly in a position to take the moral high ground, says Kerry Brown. The Great Financial Crisis of 2008 only reinforced the message that the capitalist world was not even able to supply answers to the very things it still maintained the strongest claims to leadership on. As historian Adam Tooze has shown in clinical detail in his 2017 book `Crashed’, mismanagement in the first place was more than supplemented by greed, protection of vested interest, and immorality. Even more devastating, it was the Chinese and their growth after 2009 that stabilised much of the global situation. Unlike with the Gulf War debacles,
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After the American led wars in the ME, which may have over half a million people dead, and the financial collapse in 2008, where it bailed out the bankers only, the US is hardly in a position to take the moral high ground, says Kerry Brown.After the American led wars in the ME, which may have over half a million people dead, and the financial collapse in 2008, where it bailed out the bankers only, the US is hardly in a position to take the moral high ground, says Kerry Brown. The Great Financial Crisis of 2008 only reinforced the message that the capitalist world was not even able to supply answers to the very things it still maintained the strongest claims to leadership on. As historian Adam Tooze has shown in clinical detail in his 2017 book `Crashed’, mismanagement in the first place was more than supplemented by greed, protection of vested interest, and immorality. Even more devastating, it was the Chinese and their growth after 2009 that stabilised much of the global situation. Unlike with the Gulf War debacles,
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The Great Financial Crisis of 2008 only reinforced the message that the capitalist world was not even able to supply answers to the very things it still maintained the strongest claims to leadership on. As historian Adam Tooze has shown in clinical detail in his 2017 book `Crashed’, mismanagement in the first place was more than supplemented by greed, protection of vested interest, and immorality. Even more devastating, it was the Chinese and their growth after 2009 that stabilised much of the global situation. Unlike with the Gulf War debacles, however, almost none were held to account for the loss of livelihood and wealth that flowed from the collapse of markets and growth around 2008. On top of the moral collapse in geopolitics, there was an even more damaging one in the world of finance and the economy.
In all of these issues, China in particular, despite many accusations levelled at it, is not guilty. It did not remotely have a role in the reasons for the US and others getting sucked into the War on Terror – and nor did it want to see 2008, despite some economists blaming its own economy for bringing about the distortions that led to the whole event. China’s main issue, as has become clear since, is that, in both these historic areas, it was largely able to move through without any detrimental effect to itself. In fact, by accident rather than design, as the US and other powers harmed themselves, China simply carried on economically, growing stronger.
Why the West Needs to Stop its Moralising against China, Kerry Brown