6min chapter

Intelligence Squared cover image

Martin Wolf and Yanis Varoufakis on the Future of Capitalism - Part 2

Intelligence Squared

CHAPTER

The Synergy of China and Western Capitalism

I see China, Chinese capitalism, utterly symbiotic with Western capitalism. I do not see them as two separate things that evolve differently and clashing. The profits of the German, Japanese and later the Chinese capitalists were being recycled through Wall Street. So it was a bit of a Faustian bargain that didn't have necessarily conscious agents. But we are now moving just this wonderful example of Prussia and Germany and Britain to the point where these networks of capitalist power will end up in global war. And our reaction to their autocracy is a powerful and dangerous force.

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