this post was submitted on 06 Jan 2025
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Image is of Trudeau and Trump together at Mar-a-Lago in November 2024. Source is here.


The Liberals, headed by Trudeau, have not been doing so hot lately. Polls have been rather poor, showing the party far behind the Conservatives, and the Deputy Prime Minister Chrystia Freeland (an outspoken apologist for Ukrainian Nazis) resigned recently, with more MPs following her lead. Trump's return to power has shaken the Canadian establishment due to his threats to impose massive tariffs on Mexico and Canada, which will have substantial economic consequences given that Canada sends most of its exports to the US, compounding the economic malaise that has affected most of the world over the last few years.

With all this bad news, there are rumors and reports that Trudeau will soon resign, ending his nine years of rule. His fall would be yet another casualty in the wave of incumbent parties falling across the imperial core, only to be replaced by more conservative parties that have very similar policies but wish to cast all blame and hardship onto minorities.


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https://t.me/epoddubny ~ Russian language.
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https://t.me/UkraineHumanRightsAbuses ~ Pro-Russian, documents abuses that Ukraine commits.

Pro-Ukraine Telegram Channels:

Almost every Western media outlet.
https://discord.gg/projectowl ~ Pro-Ukrainian OSINT Discord.
https://t.me/ice_inii ~ Alleged Ukrainian account with a rather cynical take on the entire thing.


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[–] [email protected] 72 points 1 day ago* (last edited 1 day ago) (20 children)

You learn something new everyday. I was reading a China doomerism article on Naked Capitalism today which I have some issues with and won’t be commenting on, but I came across this quote supposedly from Xi Jinping:

To promote common prosperity, we cannot engage in ‘welfarism.’ In the past, high welfare in some populist Latin American countries fostered a group of ‘lazy people’ who got something for nothing. As a result, their national finances were overwhelmed, and these countries fell into the ‘middle income trap’ for a long time. Once welfare benefits go up, they cannot come down. It is unsustainable to engage in ‘welfarism’ that exceeds our capabilities. It will inevitably bring about serious economic and political problems.

At first, I thought this must be some Western propaganda smear and maybe mistranslation. Then I looked it up, turns out it’s real… It was actually published in Qiushi (CPC’s theory website) back in 2022 on an article titled “To correctly identify and grasp the major theoretical and practical issues of our country’s development” based on Xi’s speech to the Central Economic Work Committee in December 2021:

(the exact quote in Chinese)

要完善公共服务政策制度体系。促进共同富裕,不能搞“福利主义”那一套。当年一些拉美国家搞民粹主义,高福利养了一批“懒人”和不劳而获者,结果国家财政不堪重负,落入“中等收入陷阱”,长期不能自拔。福利待遇上去了就下不来了,搞超出能力的“福利主义”是不可持续的,必然会带来严重的经济和政治问题!

—-

This actually explains why China has been so reluctant to just give people money directly to boost consumption. Turns out this neoliberal brainrot is deeper than I thought (I have been defending Xi all this while and now I am getting disappointed) - they really believe that giving people money is bad and you can only create the money after earning the revenues from selling stuff first.

It makes total sense now why China has been struggling to boost domestic consumption since Covid and why the central bank doesn’t simply inject the money.

Because handout is bad! People will turn lazy if they get free money without work! What the fuck, China! How is this different from your typical GOP rhetoric?

Just give people the fucking money and at least half of the problems will be solved.

[–] [email protected] 41 points 1 day ago* (last edited 1 day ago) (2 children)

Reminds me of an interview I was watching where Michael Hudson was talking about the issue of CPC members (or maybe he was just talking about wealthy Chinese) sending their kids to western schools and warned that this would mean they would learn western economics and bring those ideas back home

[–] [email protected] 31 points 1 day ago* (last edited 1 day ago)

Just last month, there was an outrage on Chinese social media when Yi Gang, the former head of China’s central bank, remarked in an interview during the Beijing-Tokyo Forum that “economically, China should not retaliate against the US economic warfare” and it sparked an outrage so bad that media reports on it have since been removed and we only got fragments of it remained on English outlet like SCMP that doesn’t quite capture the controversy:

“We all understand that, from an economics perspective, [retaliatory actions are] never a good choice,” Yi said at the annual Beijing-Tokyo Forum in Tokyo. “But there’s not much policymakers can do about that” in the face of mounting domestic pressure and rising concerns among international industry players.

Against such a backdrop, “as policy advisers, we should speak up for the benefits of free trade”, Yi said, calling it the easiest way to boost the world’s economic growth.

lol

These are the people who have been running the country lol. Our University of Illinois PhD alumnus certainly knows not to bite the hand that once fed him, and I’m sure he’s proud of the fact that he’s learned from the very best.

[–] [email protected] 30 points 1 day ago* (last edited 1 day ago)

This has less to do with “bringing the ideas back home”.

This is the consequence of the reform and opening up where a society with near zero inequality reintroduces classes dynamic in less than 10 years after market introduction.

The first faction of the population who got wealth are concentrated in the coasts (or in the party) sell the meritocracy word salad to the poor so they don’t have to redistribute the plunder (aka the destruction of the northeast industry and the increasing inequality in the inland).

People need to stop blaming the “west” for the idea, this is intentional policy by the government in the 80s

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