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Boxed In On China — Stephen S. Roach

Summary:
Trapped in a groundswell of anti-China sentiment, US President Joe Biden’s team appears to be staying the course set by the previous administration. A better way would be for both sides to go back to basics – the economics and trade issues that have long anchored the US-China relationship.Poisoned relationship. There is more to it, however. A big reason for the Chinese sentiment other than the constant propaganda in the media and from politician is the precariousness of the middle class and the condition of the working class. "China" is used as a scapegoat to deflect from the consequences of neoliberal policy choices and institutional arrangements. ("Russia" on the other hand is used to feed what Ray McGovern calls the MICIMATT

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Trapped in a groundswell of anti-China sentiment, US President Joe Biden’s team appears to be staying the course set by the previous administration. A better way would be for both sides to go back to basics – the economics and trade issues that have long anchored the US-China relationship.

Poisoned relationship. 

There is more to it, however. A big reason for the Chinese sentiment other than the constant propaganda in the media and from politician is the precariousness of the middle class and the condition of the working class. "China" is used as a scapegoat to deflect from the consequences of neoliberal policy choices and institutional arrangements. ("Russia" on the other hand is used to feed what Ray McGovern calls the MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex.)

Project Syndicate
Boxed In On China
Stephen S. Roach, a faculty member at Yale University, former chairman of Morgan Stanley Asia, and the author of Unbalanced: The Codependency of America and China.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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