Asian capitalism, notably China is competing with the US for global power. Asian global power is driven by dynamic economic growth, while the US pursues a strategy of military-driven empire building.
Even a cursory read of a single issue of the Financial Times (December 28, 2009) illustrates the divergent strategies toward empire building. On page one, the lead article on the US is on its expanding military conflicts and its &lsquowar on terror&rsquo, entitled &ldquoObama Demands Review of Terror List&rdquo. In contrast, there are two page-one articles on China, which describe China&rsquos launching of the world&rsquos fastest long-distance passenger train service and China&rsquos decision to maintain its currency pegged to the US dollar as a mechanism to promote its robust export sector. While Obama turns the US focus on a fourth battle front (Yemen) in the &lsquowar on terror&rsquo (after Iraq, Afghanistan and Pakistan).
On page two of the FT there is a longer article elaborating on the new Chinese rail system, highlighting its superiority over the US rail service: The Chinese ultra-modern train takes passengers between two major cities, 1,100 kilometers, in less than 3 hours whereas the US Amtrack &lsquoExpress&rsquo takes 3 ½ hours to cover 300 kilometers between Boston and New York. While the US passenger rail system deteriorates from lack of investment and maintenance, China has spent $17 billion dollars constructing its express line. China plans to construct 18,000 kilometers of new track for its ultra-modern system by 2012, while the US will spend an equivalent amount in financing its &lsquomilitary surge&rsquo in Afghanistan and Pakistan, as well as opening a new war front in Yemen.
China builds a transport system linking producers and labor markets from the interior provinces with the manufacturing centers and ports on the coast, while on page 4 the Financial Times describes how the US is welded to its policy of confronting the &lsquoIslamist threat&rsquo with an endless &lsquowar on terror&rsquo. The decades-long wars and occupations of Moslem countries have diverted hundreds of billions of dollars of public funds to a militarist policy with no benefit to the US, while China modernizes its civilian economy. While the White House and Congress subsidize and pander to the militarist-colonial state of Israel with its insignificant resource base and market, alienating 1.5 billion Moslems (Financial Times &ndash page 7), China&rsquos gross domestic product (GDP) grew 10 fold over the past 26 years (FT &ndash page 9). While the US allocated over $1.4 trillion dollars to Wall Street and the military, increasing the fiscal and current account deficits, doubling unemployment and perpetuating the recession (FT &ndash page 12), the Chinese government releases a stimulus package directed at its domestic manufacturing and construction sectors, leading to an 8% growth in GDP, a significant reduction of unemployment and &lsquore-igniting linked economies&rsquo in Asia, Latin America and Africa.
While the US was spending over $60 billion dollars on internal policing and multiplying the number and size of its&lsquohomeland&rsquo security agencies in pursuit of potential &lsquoterrorists&rsquo, China was investing $25 billion dollars in &lsquocementing its energy trading relations&rsquo with Russia (FT &ndash page 3).
The story told by the articles and headlines in a single day&rsquos issue of the Financial Times reflects a deeper reality, one that illustrates the great divide in the world today. The Asian countries, led by China, are reaching world power status on the basis of their massive domestic and foreign investments in manufacturing, transportation, technology and mining and mineral processing. In contrast, the US is a declining world power with a deteriorating society resulting from its military-driven empire building and its financial-speculative centered economy:
1. Washington pursues minor military clients in Asia while China expands its trading and investment agreements withmajor economic partners &ndash Russia, Japan, South Korea and elsewhere.
2. Washington drains the domestic economy to finance overseas wars. China extracts minerals and energy resources tocreate its domestic job market in manufacturing.
3. The US invests in military technology to target local insurgents challenging US client regimes China invests incivilian technology to create competitive exports.
4. China begins to restructure its economy toward developing the country&rsquos interior and allocates greater social spending to redress its gross imbalances and inequalities while the US rescues and reinforces the parasitical financialsector, which plundered industries (strips assets via mergers and acquisitions) and speculates on financial objectives with no impact on employment, productivity or competitiveness.
5. The US multiplies wars and troop build-ups in the Middle East, South Asia, the Horn of Africa and Caribbean Chinaprovides investments and loans of over $25 billion dollars in building infrastructure, mineral extraction, energy production and assembly plants in Africa.
6. China signs multi-billion dollar trade and investment agreements with Iran, Venezuela, Brazil, Argentina, Chile, Peru and Bolivia, securing access to strategic energy, mineral and agricultural resources Washington provides $6 billion in military aid to Colombia, secures seven military bases from President Uribe (to threaten Venezuela), backs a military coup in tiny Honduras and denounces Brazil and Bolivia for diversifying its economic ties with Iran.
7. China increases economic relations with dynamic Latin American economies, incorporating over 80% of the continent&rsquos population the US partners with the failed state of Mexico, which has the worst economic performance in the hemisphere and where powerful drug cartels control wide regions and penetrate deep into the state apparatus.
China invests in petroleum-rich countries the US attacks them. China sells plates and bowls for Afghan wedding feasts US drone aircraft bomb the celebrations. China invests in extractive industries, but, unlike European colonialists, itbuilds railroads, ports, airfields and provides easy credit. China does not finance and arm ethnic wars and &lsquocolor rebellions&rsquo like the US CIA. China self-finances its own growth, trade and transportation system the US sinks under a multi trillion dollar debt to finance its endless wars, bail out its Wall Street banks and prop up other non-productive sectors while many millions remain without jobs.
China will grow and exercise power through the market the US will engage in endless wars on its road to bankruptcyand internal decay. China&rsquos diversified growth is linked to dynamic economic partners US militarism has tied itself to narco-states, warlord regimes, the overseers of banana republics and the last and worst bona fide racist colonial regime, Israel.
China entices the world&rsquos consumers. US global wars provoke terrorists here and abroad.
China may encounter crises and even workers rebellions, but it has the economic resources to accommodate them. The US is in crisis and may face domestic rebellion, but it has depleted its credit and its factories are all abroad and its overseas bases and military installations are liabilities, not assets. There are fewer factories in the US to re-employ its desperate workers: A social upheaval could see the American workers occupying the empty shells of its former factories.
To become a &lsquonormal state&rsquo we have to start all over: Close all investment banks and military bases abroad and return to America. We have to begin the long march toward rebuilding industryto serve our domestic needs, to living within our own natural environment and forsake empire building in favor of constructing a democratic socialist republic.
When will we pick up the Financial Times or any other daily and read about our own high-speed rail line carrying American passengers from New York to Boston in less than one hour? When will our own factories supply our hardware stores? When will we build wind, solar and ocean-based energy generators? When will we abandon our military bases and let the world&rsquos warlords, drug traffickers and terrorists face the justice of their own people?
Will we ever read about these in the Financial Times?
In China, it all started with a revolution&hellip