Okaaaayyy. So what now?
From the very, very left, Multipolarista, October 19:
EU foreign-policy chief Josep Borrell confessed the West’s neoliberal economic model was “based on cheap energy coming from Russia,” “access to the big China market,” and low-paid Chinese workers. Europe has now lost that, and is thus in crisis
The West’s economic prosperity following the end of the first cold war in 1991 was built on a neoliberal capitalist economic model that was only made possible due to the extraction of wealth from China and Russia, the European Union’s top foreign-policy official, Josep Borrell, has confessed.
“Our prosperity was based on China and Russia – energy and market,” Borrell said.
China provided the US and EU with a massive market, low-paid labor, and cheap consumer goods. And after the Soviet Union was overthrown, mass privatizations in Russia and steps at integrating it into the West helped Europe secure huge amounts of inexpensive energy.
But the significant rise in workers’ living standards in China, as well as the proxy war in Ukraine and the EU’s corresponding pledge to boycott Russian gas and oil, have greatly increased the cost of living and doing business in Europe, making its products uncompetitive in global markets.
This has plunged the trans-Atlantic capitalist system into a deep crisis, motivating the neoliberal West to wage a new cold war on Beijing and Moscow in hopes of reasserting control over China’s market and labor and Russia’s natural resources.
The EU’s foreign-policy chief acknowledged these facts in a speech at the 2022 Ambassadors Conference in Brussels on October 10....
....MUCH MORE
