China seems to think it can keep growing by going colonial, replacing ties with the west with Africa and "BRICS". I guess they do really believe the Leninist idea about the west becoming rich through colonial exploitation.https://twitter.com/niubi/status/1027683386268286980 …
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Yes, but the poor nations are growing much faster in population.
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Which will reduce their spending power, not increase.
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Nigeria is now the 24th largest economy in the world. Would have been thought nuts 50 years ago.
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Thats because of oil. Not because of the productivity of its people.
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I don’t think replacing an African government, if necessary, would be beyond China’s powers.
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It can fund a different strongman. It can't make him pay back the money.
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I thought they were interested in extracting Africa’s natural resources, and their infrastructure building was just to facilitate that. Didn’t realize they expected to be paid for it.
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They're building cities and passenger trains and power stations too. Corporate welfare justified by implausible debt numbers.
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Ah, well, that’s not too smart. Maybe it’s the 21st century equivalent of their treasure fleet.
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Interesting -- would you say the colony systems were a net wash/negative for the European countries? I'd always assumed that extraction of resources was one of the success factors. Would be interested in reading more about this!
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It was profitable when it was a brutal private enterprise. It was a net loss when states had to invade to enforce debt collection.
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The West isn't going to shut China out. There's too much money to be made. China's 'threat' to the West is a long-term issue, like 50 years long-term, whereas China's market remains the biggest opportunity in the world, by far, even with the constraints on foreign entry.
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For that China has to actually open its markets. Which it doesn't want to do as it has to protect domestic employment. China won't be shut out completely, but trade isn't going to grow any further.
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What, China is going to grow through autarchy now? The golden age or Chinese exports and technology transfer is over.
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