To understand how China’s socialism has achieved such great improvement in living conditions, the factual account must take precedent.
The U.S. knows from its experience in defeating Germany, Japan, and the Asian Tigers that a decisive way to slow a competitors growth rate is to get it to reduce its level of investment. The problem for the U.S. is that it has no means to force China to reduce its level of investment.
The following article by Michael Burke, examining how imperialism has developed since 1916, originally appeared on the Socialist Economic Bulletin website.
A new situation requires a new analysis, and each new factor in the situation requires a specific and concrete analysis, placing it and its weight correctly in the overall situation.