Ones and Tooze China's Trade Surplus
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Dec 12, 2025 Explore the revolutionary ideas of Rosa Luxemburg, a pivotal figure rejecting nationalism for a broader internationalism. Discover her unique critique of economic nationalism and the challenges she posed to traditional socialist thought. The discussion delves into her theories on capitalism's reliance on external 'others' and the importance of mass strikes for political learning. Interesting contrasts with Lenin's views enrich the narrative, shedding light on her enduring relevance in today's radical politics.
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How China Uses Trade Surpluses
- China’s $1 trillion trade surplus reflects huge exports that create financial claims rather than hidden domestic hoarding.
- Those surpluses become foreign financial assets, like US Treasuries, and scale with China’s role in global production.
Mercantilism Or Defensive Development?
- Labeling China mercantilist misses the defensive logic behind its industrial policy.
- Beijing pursues industry and competitiveness because it sees a hostile global environment and fears regime vulnerability.
Wages, Productivity And Job Risks In China
- Chinese wages and productivity rose dramatically, making China a high-quality manufacturing ecosystem.
- The big challenge is whether sufficient jobs remain as manufacturing becomes more capital- and automation-intensive.
