But at a certain point, we we just get tired of surrendering. At a certain point, we just can’t live this way anymore. A key facet of the U.S. great power competition with China revolves around tech. And you write how, you describe how in the post-war period, the U.S. sought to foster dependency not only with food, but also with military wares and specifically technology. And the same in the US, with the protests against government mandates. Whatever you think about them, we need to make this objective observation and determine what it means for left-right dynamics when workers are being intimidated. So other countries are turned into economic and trade satellites of the United States. That’s the aim of the U.S. control of the World Bank, the IMF.

Super Imperialism: The Origin and Fundamentals of U.S. World

So America had essentially gained control of Britain’s domestic financial policy by insisting that this policy be set in Washington, not in London. It can say, well, you had a revolution, we don’t like. We’re going to put sanctions on you and we’re not going to export any more food to you. Now, you can starve if you don’t reject Mao’s revolution and thank Chiang Kai-shek. Summary : With intensifying concerns regarding the soundness and stability of the international monetary and financial system, calls for reforming it have been on the rise. One recent call was made by the Bank of England Governor Mark Carney, in August 2019, in which he suggested a synthetic hegemonic currency to replace the US dollar as the key reserve currency. Whether such calls will lead to an end of the key reserve currency status of the dollar remains to be seen. So when World War One broke out, England simply told the government, give us a gift of all of your money. Mass famine in India, mass starvation, because England just grabbed the money that India had in sterling.Henry George did not have a theory of value and price, and without that you don’t have a concept of economic rent. He was arrested actually in the United States, and he was held as what he claimed to be an “economic hostage.” And this is the beginning of this campaign we now see against Alex Saab from Venezuela, Meng Wanzhou from China, and also there’s a North Korean businessman whom the U.S. is trying to imprison. Our international monetary and financial system is broken. Indeed, it was this conclusion and the observations I have made in this and other articles that led me to ask the question in the title of this article: Are we approaching the end of Super Imperialism?

The End of Super Imperialism? - Prime

Here’s what happens. And here’s what happened during the Vietnam War. And here’s what was not in the Vietnam Papers that McNamara asked for. It’s all gone for assets that the 1 percent of the economy hold. It has financed asset price inflation, not domestic inflation. The domestic inflation is something that comes not from an increase in the money supply, but from supply shortages.And in your book, Professor Hudson, you say that very few economists these days teach economic history because–at least in U.S. economics departments–because if you actually studied economic history, you would see how different it is from all of the neoliberal textbooks. MICHAEL HUDSON: That’s right. There’s been a rewriting. America got rich by being a mixed economy, where the government took an active role in subsidizing basic infrastructure. Now you can call that a conspiracy. I think it’s sort of a pipe dream if they think they can get the rest of the world to go along with it. So what is happening here? How will the U.S. fare in a world where it can no longer foster dependency on its own technology? And what will it do to remedy the situation? We’ve also seen the release of Meng Wanzhou, I guess she is the CFO or COO of Huawei, a Chinese tech firm. And I think this is relevant to the conversation here.

Super Imperialism The Economic Strategy of American Empire

MAX BLUMENTHAL: Well, you see the same dynamic at play with the protests in Italy and France against the green pass, and the construction of what, in my opinion, is a kind of digital authoritarianism, just exploiting the emergency atmosphere of the pandemic. Russia is now producing its own cheese, that it used to get from Lithuania. Russia is now the largest agricultural exporter in the world, and displaced the United States.MICHAEL HUDSON: Well, the English language is an enormous language, and it’s always expanding the words. And one of the new terms that is come into the English language about two years ago, a year or two ago, was a translation from the Russian: non-agreement capable. So I haven’t read this book; I want to get a copy of it. But essentially, from the summaries that I’ve read about this book, The American Trap, he argues that the U.S. has been carrying out a kind of economic war against French companies, in the same way it carried out those policies you explained against Japanese companies in the 1980s. You want all of the planning–you want a centrally planned economy, much more centrally planned than you have in China and even in Russia. But the central planner is going to be Wall Street, and the city of London, and the Paris Bourse. I’d refer to Michael Parenti’s lecture on capitalism and conspiracy and class power from 1993, where he makes the case that history is really not an accident. And now more than ever, it’s being decided in Davos.