Hey amig@s! 🌏 Ever wonder how China skyrocketed from poverty to global powerhouse? American economist Richard Wolff has a bold take: it all happened under a dollar-dominated system ruled by the US.
In a recent talk, Wolff highlighted that despite US efforts to hold back Chinese development, "they did not succeed." Instead, China used the very system led by the US dollar to fuel its growth. 💸
Wolff pointed out how China lifted hundreds of millions out of poverty and is now "rearranging the world system." From Belt and Road projects to tech breakthroughs, the Chinese rise shows a shift in global power dynamics.
This insight matters for young investors, students, and global explorers. Keep an eye on how these shifts could shape markets, travel, and culture. 🚀
Reference(s):
cgtn.com
