I don't get why Americans dismiss our generous conditions to end their hegemony.
By ending the US dollar hegemony, your economy goes back to being a normal economy with real industries.
Cause of deindustrialization & detrimental effects of US hegemony on the working class
1/5🧵
The real cause of deindustrialization of the US is not China, not even your corporations.
It's the rigged US dollar hegemony, created by the Wall Street cartel.
To supply the world with US dollar, the US must run a trade deficit, because no other country can print the US dollar
So the trade deficit and deindustrialization of the US is by design of your real rulers on Wall Street.
Your unelected rulers made the conscious choice to deindustrialize your country, marginalize the working class and create social movements that is tearing your country apart.
My dad's friend is a senior executive at a large pharmaceutical company in China.
During dinner yesterday, he said most of China's economic issues can be solved by more strict implementation of labor laws, AND raising employee benefits to blue collar workers.
Here's why:
1/9🧵
Currently, there's a mismatch between University graduate job seekers and labor market.
Blue collar positions cannot find enough workers, while university graduate cannot find jobs.
Part of it is down to mismatched skills, but people can learn on the job through apprenticeship
A lot of it is down to the lax labor laws and inadequate worker benefits.
Many Chinese industries have reached a point where they are not competing on labor cost anymore.
Chinese labor cost have risen consistently, and so has our share of the value added in global manufacturing
The Type-076 Amphibious Assault Carrier seems to have contradictory roles.
1️⃣As an Amphibious Assault ship, it needs to be within ~50km of enemy coastline.
2️⃣As a Carrier means it needs to operate around 1000km away from enemy coastline.
How to resolve this contradiction?
1/6🧵
The Type-076 has 1 electromagnetic catapult to launch drones and manned fighters.
At around 50,000 tons, it's in the territory of medium aircraft carriers.
Equipped with a floodable welldeck, it's also an amphibious assault ship.
Hence the seemingly contradiction in role.
The key is to look at the roles of escort carriers during World War 2.
Escort carriers were relatively slower than fleet carriers and battleships, relegating them to escorting merchant and supply ships.
During amphibious operations they would provide air support...
In 2015, China announced the Made in China 2025 industrial policy.
In 2024, China have became the leader or major player in all sectors targeted by the policy.
The last bastion, the DUV and EUV lithography machine will be ready 2025-2026.
What does this mean for the world? 1/5
The world has not seen any one country become so dominant in so many sectors of the industry.
The previous 2 instances where peaceful reshuffle of the global industry happened was with Japan in the 1970s & 1980s, the Asian Tiger economies of the 1980s & 1990s.
None of the previous instance had an industrial power as large and comprehensive as China.
Major economies like South Korea, Japan and Germany will be highly exposed to Chinese competition.
We are already witnessing it in the car and shipbuilding industries.