Differences in the declines of the US and British empires, analyzed by political economist Giovanni Arrighi back in 2007:
The US transitioned from being a creditor to a debtor nation much earlier than the UK, largely because Britain could directly extract resources (and troops)…
The US transitioned from being a creditor to a debtor nation much earlier than the UK, largely because Britain could directly extract resources (and troops)…
The current accounts of the countries of the Global North taken together have had an escalating deficit -- for the most part due to the US deficit -- to which corresponds an escalating surplus in the current account of the rest of the world (largely the Global South, especially…
In this framework, we can see that Japan has in some ways played a similar role for the US empire that India played for the British empire.
Except the UK used violent force to extract that wealth from India, whereas Japan has "voluntarily" helped finance the chronic US…
Except the UK used violent force to extract that wealth from India, whereas Japan has "voluntarily" helped finance the chronic US…
جاري تحميل الاقتراحات...