On Tue, Jul 2, 2024 at 11:41 PM, RKOB wrote: > > > > We have repeatedly dealt with the historic decline of U.S. imperialism — > the hegemonic power among capitalist states since 1945 — and the rise of > new rivals, mainly China and Russia. While the US is still a leading power > it is no longer an absolute hegemon that dominates the world economy and > politics. > > > > > Read more at > https://links.org.au/us-dollar-and-pound-sterling-role-currencies-uneven-process-decline-hegemonic-imperialist-powers > > >
The paper compares the decline of the British and US empires in the 20th and 21st centuries, respectively, using as common metrics of comparison national industrial output, share of world trade and capital export, warship tonnage, and share of global reserve currencies. The trends are similar between then and now, and we know it turned out very badly back then. What about dissimilarities? The rapid growth of industrial output and Chinese strength came from big capital exporting jobs from the global west to east. Supply chains are now very long and labor-optimized leading to brittle inter-dependencies and unpredictable supply disruption, as shown during the pandemic and its aftermath. There is also far more capital inter-dependency in 2024 than 1914 that merits consideration when making comparisons. thanks, Mark -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#30990): https://groups.io/g/marxmail/message/30990 Mute This Topic: https://groups.io/mt/107015406/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
