China and Trumpism: The Political Contradictions of Global Capitalism
NOVANEWS
By: William I. Robinson
Combination of photos showing Chinese newspaper, stacked 100 yuan banknotes and US$100 bills. | Photo: Reuters / teleSUR
As U.S. hegemony declines and Chinese hegemony possibly rises, it is clear that the political scaffolding of world capitalism is hopelessly outdated.
When China’s richest man, Wang Jianlin, warned last December that a U.S. trade war against China would result in disaster for the United States, it was no idle threat. Trump scores political points with his social base each time he rails at Beijing, yet the U.S. and the global economy would grind to a halt if it were not for China’s preponderant role in shoring up global capitalism at this moment of acute crisis.
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