I think so. I would describe the current geopolitical situation as the reverse of the Cold War where the capitalist bloc led by the US was the bigger economic bloc. Today, China is by far the biggest economy in tangible terms of material production. The BRICS economic bloc led by China is growing while the G7 bloc is shrinking. While BRICS isn’t made up solely of socialist economies, it is not hostile towards socialist nations which allows them to develop peacefully.
I expect that we’ll see a 2008 style financial crisis in the west within the next few years, and I don’t expect that the west will be able to climb out of the crisis the same way as in 2008. One of the biggest stabilizing factors back then was China bailing out the US, that obviously won’t happen this time around. The crash will further discredit the western system, and China will emerge as a model of a well functioning economic system that will be emulated going forward.
I think so. I would describe the current geopolitical situation as the reverse of the Cold War where the capitalist bloc led by the US was the bigger economic bloc. Today, China is by far the biggest economy in tangible terms of material production. The BRICS economic bloc led by China is growing while the G7 bloc is shrinking. While BRICS isn’t made up solely of socialist economies, it is not hostile towards socialist nations which allows them to develop peacefully.
I expect that we’ll see a 2008 style financial crisis in the west within the next few years, and I don’t expect that the west will be able to climb out of the crisis the same way as in 2008. One of the biggest stabilizing factors back then was China bailing out the US, that obviously won’t happen this time around. The crash will further discredit the western system, and China will emerge as a model of a well functioning economic system that will be emulated going forward.
This gives me some hope lol
I’m cautiously optimistic :)
I really do like this phrase :3