I agree that the rivalries seem fake, especially with China:
1. If the US and China were truly enemies, the US wouldn't allow 250,000 Chinese to study in the US every year. That's a lot of potential s...
Yes. China and America (aka Chimerica) love each other.
Controllers' lens after the 90s:
US wants:
- cheap imports,
- suppressed goods inflation,
- someone to buy endless Treasuries,
- geopolitical leverage over industrial chains.
China wants:
- export-led growth,
- technology & capital inflows,
- time to build domestic capacity and surveillance apparatus,
- a way to turn sweat + coal into reserves and gold.
So the deal (often framed as "globalization" in official language) is:
- US prints high-quality paper (USTs, Agencies, USD bank liabilities).
- China prints low-wage labor, exports, and real goods.
- China recycles the USD surplus back into US paper.
= ❤️
Controllers' lens after the 90s:
US wants:
- cheap imports,
- suppressed goods inflation,
- someone to buy endless Treasuries,
- geopolitical leverage over industrial chains.
China wants:
- export-led growth,
- technology & capital inflows,
- time to build domestic capacity and surveillance apparatus,
- a way to turn sweat + coal into reserves and gold.
So the deal (often framed as "globalization" in official language) is:
- US prints high-quality paper (USTs, Agencies, USD bank liabilities).
- China prints low-wage labor, exports, and real goods.
- China recycles the USD surplus back into US paper.
= ❤️
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