Comment by vkou
9 hours ago
> government policy is now making Chinese consumers poorer than they otherwise would be
Right, that sort of thing never happens over here. We don't give the rich tax breaks while robbing the middle class (and saddling it with mountains of debt that will be coming due in their future), we don't print money hand over fist to fund idiotic wars and other vanity projects, and we don't do everything in our power to prevent workers from organizing for higher wages and better working conditions.
Congress and the executive is hard at work to make the American consumer richer than they otherwise would be. Everything they do is with that goal solely in their minds. It's all they live for, not for making their backers and friends richer and more untouchable.
If governments introduced a whataboutism sin tax, they could solve budget deficits overnight.
Let's look at the thread of discussion.
> Assertion that China has brought incredible prosperity to its people.
> Complaint that actually, China's economic policies that brought that prosperity are... Structurally robbing its working class.
> Observation that America, which, presumably, is the model for the best, most evolved, and un-improvable structure for its economy is also structurally robbing its working class, with no roadmap for course-correction from it. (And it's doing it for purposes that are not exactly developing the nation!)
> "That's Whataboutism!"
The complaint in #2 is only relevant as a relative comparison. China's economics structurally rob its working class? Okay, let's all agree that's the case - but rob it compared to what? The unchecked late-stage corporatism that we're practicing? The excesses of the industrial revolution in past centuries? It's bad compared to what, exactly? Some idealized strawman utopia, where no economic planning or monetary policy or deficit spending or consolidation of economic power exists? Do you have a roadmap for getting to that one?
The observation in #3 incredibly relevant. If you're not making a relative comparison of China's economy, you need to make an absolute analysis of it... And on an absolute analysis, it has done an incredible job of lifting hundreds of millions of people out of crushing poverty, and into first-world lifestyles, in only a few decades. All the central planning - control of its exchange rates, its monetary and debt and lending policy, it's focus on exports and fundamentals and R&D and education is exactly what has brought that prosperity about.
Meanwhile, the only thing our central planners, here at home are good at figuring out [1] is how to widen the gap between the haves, and the have-nots.
---
[1] I am being a bit too harsh, the Fed does a good job given its mandate.