by ralfy » Mon 13 Nov 2023, 19:41:15
According to one source, they lifted 800 million out of poverty due to a 7-pct ave. economic growth rate across decades, using a variation of the East Asian Miracle started by Japan. Other countries have been doing similar, and they now include VIP: Vietnam, Indonesia, and the Philippines. Some say similar has been taking place among the Global South, as seen in Next 11, EAGLE, MINT, and so on.
The U.S. cannot accept this because it's dependent on the dollar used as a global reserve currency, which in turn allows it to take on incredible levels of debt, such as almost $8 trillion in addition to public debt from Trump and almost $5 trillion from Biden, not to mention around $12 trillion in unaudited bailouts to the rich via Dubya and Obama. Much of that debt is used to pay for a very expensive military needed to ensure that dependence, among others.
That's why the U.S. media, 90 pct of which is owned by six corporations, needs to keep up the attacks on China and Russia plus cheerlead each conflict involving the U.S. and its NATO allies.