The US-China competition for global primacy was the topic of conversation conducted by Pyotr Zygovich on the “Historia Realna” channel. A strategy and futurist expert on geopolitics and political and military strategy, Dr. Jacek Bartosiak sought to answer, among others: the question of what action the United States should take in relation to China’s economic expansion. The two countries are imposing more economic sanctions on each other, and strategists and various politicians are expressing fears and views that a dynamic conflict should not be ruled out.
Bartosiak said the US Congress is considering a bill to require repayment of the debt owed by the US before World War II. The amount is approximately one trillion dollars. The analyst recalled his assessment that, in the eyes of Americans, “they are more permissive” because they believe they are driving global capitalism.
Bartosiak: China has overtaken America in capitalism
The problem, according to Bartosiak, is that it’s not entirely there at the moment. – In my opinion, China is on its way to surpassing the Americans. Mainly because Americans don’t control the mainstream. They control the dollar, and I think there will be an attempt to divide the world by cutting off China from the dollar one way or another and putting US allies on the side of the Americans. Because the People’s Republic of China has surpassed America in capitalism, he said. He argued that China is no longer dependent on American markets and trade with them. Although still under technological pressure, the Middle Kingdom has meanwhile become the world’s leading producer of commodities.
Bartosiak provided several examples showing that in some sectors of the economy, China is several times ahead of the United States. Large imbalances in the production of steel, aluminum, coal and nuclear power plants, steel works, mines, airports, roads and shipbuilding are a concern. – One shipyard in Shanghai produces more ships than the entire US shipbuilding industry – he said, adding that the US is not investing enough in the capital-intensive industry, which means they have to import more and more from overseas, mostly from China. – […] In other words, China is industrializing and America is industrializing, he said.
“That’s not a deal.”
The mechanism of American finance capitalism, the analyst recalled, consists of, simply put, the Chinese doing what they do and the Americans – who allowed them to globalize before – marketing the product and controlling the margin. – But the Chinese rebelled and disagreed. It started when Xi Jinping announced the Belt and Road Initiative, then “Made in China 2025”, then trade relations with ASEAN, with the Global South, with Russia, with Europe, the Americans are losing markets.
– Over time, this leads to the fact that if you do not produce goods, you have to import them from abroad […] To do this, you have to spend when you spend – and the Americans have a huge deficit – so you go into debt and start issuing bonds – constantly Bartosiak, foreign capital, money earned through interest, invests more and more in assets in the United States. , which Americans don’t particularly like. – Simply put, a contract is not a sale. Owners have to have the financial capital and someone to do the work. […] This entire building [kapitalizmu finansowego – red.] It was built on the fact that Americans rule the world ocean. […] It is a dispute about the complex mechanisms of the interdependent whole edifice we call global capitalism. The Chinese have successfully bit their teeth into this system and want to take it. Not because they have bad intentions, but because they have so much mass, production, and they believe they are entitled to it, and it’s always been like this, the last 500 years an anomaly, certainly the last 200 years – Bartosiak said.
Danger of world war
According to Bartosiak, the Americans may not be able to rebuild their traditional industries enough to overtake China, but they can gain an advantage over their competitors in future areas of the economy, including modern technologies and artificial intelligence.
If the US continues its primacy in the current formula, disconnecting the Chinese from the dollar and demanding repayment of pre-World War II debts, the analyst predicts a world war. However, he believes that China will not try to invade Taiwan directly, but may expand in the Pacific.
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