Imperialism, China, and the World Economy
The Socialist Program with Brian Becker
00:00
The Chinese Challenge to the Domination of the United States
The dominant idea that it somehow threatens to quote, catch up, close quote, economically or overtake the rich countries is wrong. China has moved from being one of the poorest societies to a level now similar with other relatively developed third world societies like Mexico and Brazil. The decision now to block China from importing advanced microchips is an example that the US and the Western countries still have this monopoly. As a consequence, while China can grow in an aggregate sense, it can't really catch up.
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