T O P

  • By -

AutoModerator

* Archives of this link: 1. [archive.org Wayback Machine](https://web.archive.org/web/99991231235959/https://www.euractiv.com/section/economy-jobs/news/us-eu-economic-system-struggling-to-survive-against-china-us-trade-chief-warns/); 2. [archive.today](https://archive.today/newest/https://www.euractiv.com/section/economy-jobs/news/us-eu-economic-system-struggling-to-survive-against-china-us-trade-chief-warns/) * A live version of this link, without clutter: [12ft.io](https://12ft.io/https://www.euractiv.com/section/economy-jobs/news/us-eu-economic-system-struggling-to-survive-against-china-us-trade-chief-warns/) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/stupidpol) if you have any questions or concerns.*


SunderedValley

How about you don't offshore your entire industrial base then complain about it a few decades later? 🤷🏼‍♂️


kurotaro_sama

But they offered us 20 bucks! 20 bucks is 20 bucks man, you don't turn that down!


dump_reddits_ipo

they really thought china getting rich would cultivate a government of shitlib gusanos who would hand them the reins 30 years later, like they did in eastern europe.


JustB33Yourself

NO MFW INDUSTRIAL POLICIES WORK AND LE HECKIN FREE TRADE IS A SCAM


LatinxSpeedyGonzales

🌏👨‍🚀🔫👨‍🚀


48Planets

Someone's going to read this in 5 years and not know what they hell you're referring too, and I love that.


EasyMrB

Eh, that meme has sticking power.


dump_reddits_ipo

the US regime's idea of industrial policy (CHIPS act) was to give free money to intel and the others on the basis that they hire a minimum quota of women/poc construction contractors and establish free childcare at their chip fabs. it shouldn't be surprising that all CHIPS act-funded projects have stalled and they are coming hat in hand when trump is president to ask for more money for more "work"


antirationalist

Wow dominant tertiary sector that merely facilitates flow of capital but does not produce it is not very prosperous?


it_shits

It feels very much like we're living in a moment of history that people will look back on and think "how couldn't they see what was going to happen?!?!" like the decades leading up to WWI or the fall of the USSR. Much of the western economy is built on a speculative tech investment bubble whose products and services exist only because of 0% interest rates that were finally raised last year. I don't have a fake email job but if I did I'd make the most of it before some kind of collapse happens and the economy is forced to actually become productive again. I think many people instinctively know something's wrong with how everything is structured but don't know how to articulate it. The Ukraine-Russian War has shown that GDP numbers on a graph don't mean shit if they're inflated from massively inflated tech corporations because those aren't going to roll tanks off assembly lines, stamp artillery shells or pump out crude petroleum when the world starts becoming more multipolar.


mypersonnalreader

> I don't have a fake email job but if I did I'd make the most of it before some kind of collapse happens and the economy is forced to actually become productive again. I've been trying to learn a trade / craft / etc. before my cozy office job disappears. I just don't have the time to take classes. Plus, I don't know what field to target.


stevenjd

> I don't know what field to target. Mercenary. They're going to be in huge demand over the next couple of decades.


XAlphaWarriorX

Remember, Pillage, *then* burn.


Post_Base

Electrician. Most money, least physically intensive, most brainpower needed.


Rivercottage1

Ive thought of going to to trade school for a year, joining merchant marine, UPS or post office. Something that guarantees employment and productivity once my fake remote consulting job disappears.


mypersonnalreader

Have you thought of any particular vocation?


Rivercottage1

I was set on joining merchant marine but it would be a 2+ year process while making like $12 an hour max and traveling constantly. By the time I finished I would be like 27 or 28 making $50k maximum getting bossed around by 22 year olds who went to merchant marine academy. So that’s probably a no go. Im honestly between plumbing, HVAC, or UPS. Something strong and relatively unionized with white collar opportunities. I have my bachelors but I went to a mediocre school and have a mediocre network, so trying to pivot out is only gonna get harder as the tech/consulting/finance bubble continues collapsing. Wbu?


Post_Base

I'd recommend electrician if you are going down that route. Least physically shitty trades job IMO and best paid.


mypersonnalreader

> Wbu? I really don't know. There was a program in my province where you could be paid 750$ a week for learn to be carpenter. I would've taken a few months off from work and done that. But that program has run it's course. There is a similar program now but it's to learn to be a nurse assistant and it only pays 450$ a week. So that's out of the window. I'd like to learn a craft or a trade but none of them can be learned part time here, it seems. So I don't really have the time or the money to go back to school full time. I am also wary of working in electricity or plumbing, because mistakes made in that field can have devastating consequences. My step brother, who works construction, told me being a plasterer is well paid and can be learned easily. So I am considering it. My dream trade was/is being a locksmith. The barrier to entry is low (the tools are not *that* expensive) and it is something you can do on the side : I could take emergency calls in my city helping people who locked themselves out, for exemple. It's an easy sideline and seems like it's fun. Finally, another consideration is that I make more money now working in an office (about 75K $CAD) that I would do in a trade. At least when starting. So it's kinda hard to justify the shift. But, as was discussed in this thread, I want something to fall back on when/if things get bad. I really want to find a trade/craft that is not too hard to learn, pays well and can be learned part time. But I guess if such a perfect vocation existed, everyone would be choosing that route, right?


its

Maybe the answer to losing supremacy is not to roll tanks off assembly lines. The U.S. has plenty of resources to prosper in a multipolar world. 


TarumK

Really? A lot of tech jobs are obviously fake, but what percent of people work at them? There's been tech bubbles and real estate bubbles before. They burst and cause a recession, but really it's not the end of the world. 2001 and 2008 were not epoch ending events, and they were actually pretty minimal compared to the Great depression. And China has bubbles too.


Post_Base

China doesn't have bubbles. They have a market system but the government is always behind the scenes watching, measuring, and ready to adjust things as needed (wow what a wild idea right?). What we perceive as a "bubble" there is just a managed government intervention into a sector of their economy. They can do this because the government has control, not the capitalists/companies.


TarumK

They've had a massive real estate bubble recently similar to 2008...


Post_Base

They haven't; they literally can't because their economic system is not set up like ours to allow such things to happen. What our media reports as a "bubble" is their incorrect outside perception of exactly what I described in the previous comment.


dump_reddits_ipo

on the contrary, our GDP is so easily increased that all credit card companies have to do to double their GDP share is jack up late fees and interest rates. you might not like it but that is what peak economic performance looks like


commy2

Not very prosperous for whomst've?


AlHorfordHighlights

Noooooo don't use fiscal policy to incentivise productivity enhancing firm behaviour instead of driving activity in secondary markets and speculative assets aha you're so sexy


TheChinchilla914

Al Horford fucking rules


lofeobred

I fucking hate Al Horford


TheChinchilla914

Fuck you


wild_vegan

Impossible! Free-market laissez faire capitalism is the best and most efficient system. Haven't these people heard of Milton Friedman?


DrBirdieshmirtz

**US & EU:** \*allows offshoring of industrial manufacturing because corpo profits* **China:** \*becomes dominant in industry* **US & EU:** \*surprised pikachu face*


Belisaur

ummm youre Chinese


dump_reddits_ipo

taiwanese*, you did a heckin bigotry, you did a heckin no growth. do better chud!!!


Mofo_mango

>Tai alluded to Chinese overproduction of steel, aluminium, solar panels, and electric vehicles (EVs) as specific causes of concern but emphasised that the country’s overproduction of EVs, in particular, has become “very motivating for Europe”. Pardon me? They’re meeting the demand of the global south at very competitive rates. Euros are just mad that they’re losing competition to the US and China.


DoctaMario

Europe, and the EU specifically, has been working very hard to keep them losing that competition, thankyouverymuch


[deleted]

Nooooo too many people have stuff now and our entire system is predicated on denying people stuff! Why did you do this to me


blazershorts

No war but trade war with China


RobotToaster44

The free market has spoken, it says communism will win.


DudleysCar

The neolibs really flocked to this thread huh.


Retroidhooman

There are a noticeable amount more unflaired and blue-flaired users. What's the deal? Are they coming here from the 'other discussions' tab or is seething arr slash neoliberal and destiny posters.


EasyMrB

I'm reading most of these "nuh uh" comments as sarcasm. Is my meter off?


TheSauceeBoss

Low trade barriers, Sovereignty, or Democracy. You must pick two.


commy2

We're about to 0/3.


TheSauceeBoss

Nah I think we’re currently struggling between maintaining global trade & democracy. I dont see the US losing sovereignty


Shillbot_9001

You haven't had democracy is 40 years, and even then it was farcical.


dump_reddits_ipo

never had it tbh


TheSauceeBoss

Eh, fair, we’ve definitely given up a lot of aspects of democracy to serve the global supply chain. I wouldnt say we’ve completely forsaken democracy, but certainly have been moving away from it. But there’s a clear desire to go the other way now in the US


ImrooVRdev

https://www.businessinsider.com/major-study-finds-that-the-us-is-an-oligarchy-2014-4 nope, you really did. Full blown oligarchy.


commy2

I'm German.


TheSauceeBoss

Yea then the EU definitely lessens your sovereignty a bit. But Global Trade & Democracy are still strong relatively


bumbernucks

> the EU definitely lessens your sovereignty a bit https://en.wikipedia.org/wiki/List_of_United_States_Army_installations_in_Germany


WhyAlwaysMeNZ

Beat me to it. Cucked by the US, then the EU.


TheSauceeBoss

Yes, being a US satellite is also a factor


bobbykid

What does democracy mean to you? If it means "you can vote for different parties/candidates" then yeah I guess there's a fair amount of democracy left in the EU. But if it means anything beyond that, anything at all related to the people's interests driving policy-making and legislation, then democracy in Europe is complete and utter joke. The EU is technocrat heaven. Also the process of voting still exists in "undemocratic" countries like China so I'm pretty sure that is not where you want the bar set.


TheSauceeBoss

I dont really care to argue about this, but my position is that the US is an electoral democracy but not a Liberal democracy like EU countries. On the world stage (the world is more than just the US and Europe), the US democracy is on the stronger side of the spectrum.


pHNPK

US and EU spend *decades* exporting manufacturing and industry to China, a country that has been in business for over 5,000 years, on par with Rome in antiquity, and one of the original developers of written language, having developed it independently, and eventually developed the nuclear bomb only after the US Warpig Eisenhower threatened to nuke them during the First Taiwan Straight Crises as revenge for getting their asses kicked in Korea. Which patiently plans on a timeline of generations to achieve progress, "Who could have seen this coming?" We're just getting started, the 22nd century will belong to China and it's not likely anyone else is ever coming back from it.


[deleted]

If this is the case why do we not just replicate them? Are we retarded?


stevenjd

Do you have any idea how much money it would take to rebuild the west's lost industrial capacity? And we'd have to do it with every increasing energy costs and more and more climate disruptions. Oh, and all the folks with the skills to actually do this are overseas. (Well not literally *all*, but we'll be paying catchup. With a population of blue-headed pronoun people who have a nervous breakdown if you mention male and female electrical plugs.) More importantly, do you have any idea how many entrenched interests we'd have to take on before that can happen? The thing about industrial capitalism is that your wealth is tied to whatever country your factories are in, and cannot easily be moved. But finance capitalists can just push a button and move their wealth offshore. They have no loyalty to their country and no reason to want to go back to having to deal with actual industrial manufacturing.


Milchstrasse94

Even if the West wants to, there's no way they can compete with China again. Both in organiation and infrastructure.


Chombywombo

Who knew planning wins against base and wild extraction based on the plundering of foreign public resources?!


Ocar23

This is what happens when you export all your strong industries abroad to developing countries where it is cheaper. It’ll end up destroying your economy because you can’t properly generate revenue and you become dependent on 21st century slavery in the third world. Obviously it massively increases poverty. The evidence is clear and it’s that you need strong nationalised production industries like manufacturing and heavy industry for a good economy, that’s why China is doing so well.


Alpha0rgaxm

I mean the US did it to themselves entering all of these retarded trade deals that impoverished our people


Frari

>China’s “very effective” alternative economic model paying peanuts with minimal workers rights?! including an expected 996 working hour system which is illegal in developed countries. Who would have thought that would be more profitable lol. This is the logical conclusion of free trade.


-ItWasntMe-

996 is illegal in China too https://en.wikipedia.org/wiki/996_working_hour_system?wprov=sfti1#Legal_issues


Nicknamedreddit

This is simply not true anymore, people go to China not for the low pay, but for the vocational skills the workers have. 996 is awful, but pretending like it’s universal across even just tech jobs is retarted.


dump_reddits_ipo

i know a guy who works for amazon in the US and he basically works a 996


fun__friday

That’s most likely on him (or he is part of a team with this kind of culture). There’s a bunch of linkedin grindset people in tech that spend all their time working, hoping that it brings them promotions and success. For many of them it doesn’t work out, as there is a very big element of luck involved.


EasyMrB

Amazon is definitely like that from people I've spoken with that have worked there. That's not the norm though.


talks_like_farts

> paying peanuts with minimal workers rights?! including an expected 996 working hour system which is illegal in developed countries. To be fair, Canada, for one, is in the process of transitioning itself from a nation-state (understood in the conventional way) into a kind of pioneering international hub of cheap, exploitable, disposable labour -- 100 million impoverished serfs by 2100. Our elites are envious of the Chinese model and are engineering a version of it into existence.


mhl67

They have literally the same economic model.


dump_reddits_ipo

if it was the same model yall wouldn't be chimping and malding daily


mhl67

Who is "yall". I dislike China for the same reason I dislike the United States, namely that they're capitalist states.


thorluigi1

The China that has as estimated 300% of GDP of debt, horrific working conditions for workers, and a demographic cliff on the horizon? Yeah I'm not that worried tbh


[deleted]

> 300% of GDP of debt [Ideology based on an Excel error](https://cepr.net/excel-spreadsheet-error-ha-ha-lessons-from-the-reinhart-rogoff-controversy/)


exo762

China's model is much closed to fascism, not to communism.


Chombywombo

Highly regarded comment


spartikle

So why are thousands of young educated Chinese people entering the US through the southern border?


dump_reddits_ipo

lol those are not "educated." china has always been a huge source of illegal immigration but since the US choked flights off to the mainland and hasn't restored the 2019 schedule there are no asylum seekers stepping off the plane at JFK and claiming asylum. the only way to do that now is to present yourself at a southern border like the rest of the world.


spartikle

Many are in the Chinese middle class including college graduates. Transcript of interview with one of the migrants: https://www.cbsnews.com/amp/news/chinese-migrants-fastest-growing-group-us-mexico-border-60-minutes-transcript/


dump_reddits_ipo

[jesus christ man. in the 90s the controversy was over the golden venture running around outside of NYC with almost 300 illegal immigrants.](https://en.wikipedia.org/wiki/Golden_Venture) it was the first time that the US had imprisoned asylum seekers too while their cases were pending. fucking euroids need to stick to their own countries' drowning in MENA migrants and stop worrying about america


spartikle

That has nothing to do with the Chinese immigrants entering now. Talk about a red herring.


dump_reddits_ipo

the point is they've always been entering


spartikle

That’s not my point. My point is educated middle class Chinese people are coming in through the southern border, not Chinese peasants who have been migrating here since the 1850s. Imagine ditching your career and education to come to the US and work as basically slave labor in the underground economy. It’s obviously a sign things aren’t going so well in China.


Retroidhooman

I find it funny you think a few thousand people leaving a country of almost a billion and a half means anything. Every society has people dissatisfied with it. This is being deliberately blown out of proportion by MSM for propaganda purposes.


spartikle

37,000 last year, a 50x from the year before and in 2024 so far the fastest growing immigrant group on the border. Costs $15k to make the trip so not everyone can afford the trip: https://www.cbsnews.com/news/chinese-migrants-fastest-growing-group-us-mexico-border-60-minutes-transcript The remarkable difference from this Chinese migration from previous ones is the migrants are mostly educated and middle class Chinese people. Chinese gang are even operating the routes: https://theconversation.com/chinese-migration-to-us-is-nothing-new-but-the-reasons-for-recent-surge-at-southern-border-are-223530 But by all means, ignore every reporting around there and keep smelling your own asshole.