he framing matters: Western surpluses are celebrated as evidence of virtuous competitiveness, while China’s surpluses are cast as problematic overcapacity.
https://x.com/haugejostein/status/1967915667547467998
When Germany became an export powerhouse, it earned the nickname “exportweltmeister.”
Now that China is becoming an export powerhouse, the same phenomenon is labelled “industrial overcapacity.”
Of course, there are legitimate concerns about excess production in certain Chinese sectors. But the framing matters: Western surpluses are celebrated as evidence of virtuous competitiveness, while China’s surpluses are cast as problematic overcapacity.
I suspect this is because, across much of the world, Western economic and cultural hegemony is accepted as the natural state of affairs. That assumption needs to be challenged.
posted by Satish Sharma at
04:12
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