If you compare China and the United States, both countries reaped immense wealth during the globalization boom from the late 1980s, yet only one country saw that wealth uplifted its broader population.
If you look at GDP growth and surpluses, both nations gained large amount of wealth. China’s GDP grew ten times, and their medium income grew about eight times.
America’s GDP grew four or five times, but from a much larger base. Yet, what is peculiar is that the American medium income has been dropping and dropping. Where has all the money gone?
How the Chinese benefitted from globalization: “If you go to the streets of Paris, every weekend you will see the yellow vests, and they will tell you where their money has gone. If you go to Germany, the most successful country in Europe, there is also so much dissatisfaction. So, we see a tremendous backlash against the Western elites who led this wave of globalism, and it will only intensify and spread.”
This says Dr. Eric Xun Li, a Chinese venture capitalist and political scientist who often criticizes Western liberal democracy, and praises the Chinese meritocratic system and political leadership. Dr. Li’s unique economic insights and critiques of globalist capitalism gives an interesting insight into the way China’s unique experience with globalization is viewed within China, writes Hanne Nabintu Herland, historian of religions, bestselling author, and columnist at World Net Daily, WND, USA’s largest conservative news network. She is the founder of The Herland Report and its corresponding YouTube Channel and Podcast.
How the Chinese benefitted from globalization: The comparison between the two nations’ different response to globalization, may give insight into how the Chinese view the West and why they perceive Western nations as doomed. Dr. Li serves on the boards of the China Europe International Business School (CEIBS), Stanford Graduate School of Business, and the Freeman Spogli Institute for International Studies at Stanford University. He is currently the chairman and managing partner of Chengwei Capital.
While Chinese globalization has lifted its population out of poverty, Western borderless globalism has produced wealth for the top billionaire elite.
China implemented a different form of globalization based on a different value system than the 1980s onward Western globalist model. It respects national sovereignty, strongly supports traditional values, strictly controls free speech but embraces the existing pluralism within Chinese culture. China’s globalization protects China and Chinese interests. The Chinese government uses an active redistribution policy which benefits the population to a greater extent.
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How the Chinese benefitted from globalization: This contrasts with the U.S.-led globalism based on a liberal democracy which does not respect traditional values and religious principles, but rather pushes a hedonist, materialist propaganda based on a globalist market capitalism. In the West, the economic gains from globalism are largely accumulated in billionaire’s accounts outside the reach of taxation and redistribution.
The billionaire elite has benefitted enormously from the lack of redistribution of wealth when jobs and opportunities were outsourced to China and low-cost countries in the late 1980s onward. Western globalism protects the Western billionaire class and elite interests, at the expense of the Western population.
Noteworthy, President Trump seeks to diminish precisely the globalist structures of open borders and lack of national sovereignty that have led to the rise of the billionaire class.
His aim is to reindustrialize America, attract innovation and investments, bring back traditional Western values and a healthy capitalism that does not only benefit the rich.
“For a quarter century I have pointed out the destructive effect of moving American investment and jobs to China. Offshoring served the interests of corporate executives and shareholders. The lower labour costs raised profits and, thereby, executive bonuses and the prices of the stocks, resulting in capital gains for shareholders.
The American manufacturing workforce was devastated, as was the tax base of cities, states, and the federal government,” writes Dr. Paul Craig Roberts, Undersecretary of the Treasury in the Reagan administration and a regular contributor to The Herland Report.
This is also what I point out in my book, Trump, The Battle for America 2025 Edition: Over 90 % of the US media is owned by only 6 corporations with widespread interest in the development of a globalist, transnational capitalist system that profits from lack of national sovereignty. The globalist business model is dependent on weak nation states, that easily may be overrun by global corporations that crush the middle class and local businesses.
How the Chinese benefitted from globalization: Western countries are experiencing massive internal dissatisfaction due to the disproportionate distribution of benefits from globalism, which has primarily benefited its elites. Significant parts of the population are left stagnant or worse off. Europe’s experience with the euro and overly bureaucratized EU institutions highlights tensions between the ethnic European cultural-national identity versus the endless benefits handed out to non-Western immigrants.
China’s alternative model, namely a state-driven system that has shopped ideas from the Western capitalist model and infused it into the Chinese communist model (Deng Xiaoping’s brilliant stroke), strongly retains that political authority remains firmly above capital. This model is in stark contrast to Western liberal democracies in which billionaire capital owners now exert enormous influence over politicians, elections and almost completely control the political system.
China’s success, according to Dr. Eric Xun Li, stems from not conforming to the Western global liberal order which breaks from traditional morality and family structures. China distinctly keeps its traditional value system instead of choosing Western hedonism, nihilism and legalization of selfishness and greed. China is the world’s largest trading nation and the main trading partner for over 115 countries, compared to 63 for the U.S. It has lifted approximately 800 million people out of poverty through economic development based on this model.
In China, globalization prizes national sovereignty, has strict control over its borders, its cultural integrity and infrastructure-led development. China is for the Chinese, without mass immigration or lack of border control. The aim is to use globalization to strengthen Chinese culture, its Chinese population and values by focusing on international trade for the benefit of the growth of China.
GET YOUR COPY of the 2025 Edition. Trump. The Battle for America, by bestselling author, Hanne Nabintu Herland. Get a better understand the overarching play and what is at stake as Trump seeks to take the power back from globalist billionaires and restore the respect for the Constitution and the American worker.
