Novara Media Downstream: Ex-World Bank Insider on Western Decline & the Chinese World Order w/ Branko Milanovic
Nov 17, 2025
Branko Milanovic, a former World Bank macroeconomist and expert on global inequality, dives into the shifting geopolitical landscape. He discusses how the rise of China compares to the Industrial Revolution, the implications of the new elite class, and the declining social mobility in the West. Branko critiques neoliberal globalization and explores the potential for conflict between the US and China. He also touches on the factors behind the USSR's collapse and examines the economic forces driving Russia's pivot towards Asia.
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Why The USSR Fell And China Rose
- The USSR collapsed from economic failure and inability to absorb new technology, not merely political missteps.
- China succeeded by selectively unleashing market forces while retaining political control, enabling sustained growth.
The End Of Neoliberal Globalization
- Neoliberal globalization that peaked around 2000 has ended and been replaced by politically driven economic choices.
- Trade and supply chains are increasingly shaped by security and political concerns, not pure cost optimization.
China's Rise Is Historically Comparable
- China's rise reverses the Industrial Revolution's Great Divergence and restores Asia's historical economic weight.
- The scale is comparable geopolitically, and more people are affected now than during the original Industrial Revolution.
