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View Diary: Sherrod Brown 2016, or America is f*cked (62 comments)

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  •  That's nice (0+ / 0-)

    But the global economy has changed dramatically since Abraham Lincoln was around.  What makes you think it has any relevance to today's economy?

    •  As I wrote in the diary (0+ / 0-)

      The three core principles of the American System are being very effectively put to use by China right now, and to absolutely stunning success:

      1. Focus finance around venture capitalism and investing in development, rather than speculation
      2. Develop your infrastructure like crazy (or what they called it in the 1800s, 'internal improvements')
      3. Protect your industries (in the case of China, they're doing this not through tariffs but by leveraging their market to require corporations to build products in-country)

      They're taking off the very same way we did in the 1800s for the same reasons.  It's not just about having a booming population and lots of natural resources: it's about using them wisely.  That's why the American System is so effective.  

      By deriding the very system that built this country as 'old' you're falling into the trap of conventional wisdom deliberately created by the 1% who've systematically ruined our economy.

      •  1 and 2 are fine (0+ / 0-)

        But if China's your example for #3, it's not a good one.  China's economy started growing after they began opening up, and the more open it becomes the better they're doing.  They went from being completely closed off to the rest of the world to being one of the biggest global players.  You're advocating for the U.S. to do the exact opposite.

        •  Of course they are leveraging their markets (0+ / 0-)

          GE is in China.  GM is in China.  Caterpillar is in China.  Nissan is in China.  Kia is in China.  Honda is in China.  Apple is in China.  These companies don't merely manufacture in China because it's cheap, as there's plenty of other countries where the cost of labor is low.  There's a huge incentive to build in China, because that's what gives them access to Chinese consumers.  They wield their emerging middle class' spending money like a club, not only because it works, but because if you want your country to succeed, you should.

          Hollywood is increasingly shooting in China, because China only releases a few American films ever year and the movie studios aggressively compete for those slots and the avalanche of Chinese ticket sales.

          The United States remains the world's biggest consumer market, and the fact that we don't leverage that market to bring industry back here to create jobs is nothing short of criminal negligence.  

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