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18-06-2022, 03:34 PM
June 17, 2022
Joseph E. Stiglitz
Nobel Laureate in Economics, Professor at Columbia University, former Chief Economist of the World Bank (1997-2000), Chairman of the President’s Council of Economic Advisers, and Co-Chairman of the High-Level Conference Carbon Price Committee
NEW YORK (Project Syndicate) – The United States appears to have entered a new Cold War with China and Russia. U.S. leaders have portrayed the confrontation as one between democracy and authoritarianism that fails the smell test, especially at a time when those leaders are actively courting systemic human rights abusers like Saudi Arabia.
This hypocrisy suggests that global hegemony, not values, is at least partly at risk.
In the two decades since the fall of the Iron Curtain, America was clearly number one. But then came the disastrous Middle East war, the 2008 financial crisis, rising inequality, the opioid epidemic, and other crises that seemed to cast doubt on the superiority of the U.S. economic model.
......
between Donald Trump’s election, the attempted coup at the US Capitol, numerous mass shootings, a Republican Party bent on voter suppression, and the rise of conspiracy cults like QAnon, there is more than enough evidence to suggest that some aspects of American political and social life has become very morbid.
Of course, America does not want to be deposed. But no matter what official metric is used, it is inevitable that China will overtake the United States economically.
......
While China has done nothing to declare itself a strategic threat to the United States ...... there is a bipartisan consensus that China could pose a strategic threat and that the U.S. should at least stop helping China’s growth to mitigate the risk.
......
pre-emptive action is necessary, even if it means violating World Trade Organization rules that the United States itself has heavily written and promoted.
......
America cannot win new great power competition on its own; it needs friends.
......
the United States must win the hearts and minds of billions of people in developing and emerging markets around the world, not only in numbers, but also in securing access to critical resources.
......
the United States will have to make up a lot of lost ground. Its long history of exploiting other countries doesn’t help, nor does its deep-rooted racism
......
More recently, U.S. policymakers have contributed to a global “vaccine apartheid,” where rich countries get all the vaccines they need, while people in poor countries are left to fend for themselves. At the same time, America’s new Cold War adversary is supplying vaccines to other countries at or below cost, while also helping countries develop their own vaccine production facilities.
......
The credibility gap is even wider when it comes to climate change
......
the U.S. still has by far the largest cumulative emissions. Developed countries continue to increase them, and to make matters worse, they fail to deliver on even modest promises to help poorer nations deal with the effects of the climate crisis wrought by the rich world.
Instead, U.S. banks have contributed to the looming debt crises in many countries, often showing indifference to the depravity of the resulting suffering.
......
Europe and the United States are good at educating others both morally and economically. But the usual message ...... is “do what I say, not what I do”.
......
what China is good at is not lecturing, but providing hard infrastructure for poor countries.
......
The Cold War was ultimately won by the soft power of attraction and persuasion. To stand out, we must convince the rest of the world to not only buy our products, but also the social, political and economic systems we sell to.
https://newestnewstoday.com/opinion-how-...-cold-war/
Joseph E. Stiglitz
Nobel Laureate in Economics, Professor at Columbia University, former Chief Economist of the World Bank (1997-2000), Chairman of the President’s Council of Economic Advisers, and Co-Chairman of the High-Level Conference Carbon Price Committee
NEW YORK (Project Syndicate) – The United States appears to have entered a new Cold War with China and Russia. U.S. leaders have portrayed the confrontation as one between democracy and authoritarianism that fails the smell test, especially at a time when those leaders are actively courting systemic human rights abusers like Saudi Arabia.
This hypocrisy suggests that global hegemony, not values, is at least partly at risk.
In the two decades since the fall of the Iron Curtain, America was clearly number one. But then came the disastrous Middle East war, the 2008 financial crisis, rising inequality, the opioid epidemic, and other crises that seemed to cast doubt on the superiority of the U.S. economic model.
......
between Donald Trump’s election, the attempted coup at the US Capitol, numerous mass shootings, a Republican Party bent on voter suppression, and the rise of conspiracy cults like QAnon, there is more than enough evidence to suggest that some aspects of American political and social life has become very morbid.
Of course, America does not want to be deposed. But no matter what official metric is used, it is inevitable that China will overtake the United States economically.
......
While China has done nothing to declare itself a strategic threat to the United States ...... there is a bipartisan consensus that China could pose a strategic threat and that the U.S. should at least stop helping China’s growth to mitigate the risk.
......
pre-emptive action is necessary, even if it means violating World Trade Organization rules that the United States itself has heavily written and promoted.
......
America cannot win new great power competition on its own; it needs friends.
......
the United States must win the hearts and minds of billions of people in developing and emerging markets around the world, not only in numbers, but also in securing access to critical resources.
......
the United States will have to make up a lot of lost ground. Its long history of exploiting other countries doesn’t help, nor does its deep-rooted racism
......
More recently, U.S. policymakers have contributed to a global “vaccine apartheid,” where rich countries get all the vaccines they need, while people in poor countries are left to fend for themselves. At the same time, America’s new Cold War adversary is supplying vaccines to other countries at or below cost, while also helping countries develop their own vaccine production facilities.
......
The credibility gap is even wider when it comes to climate change
......
the U.S. still has by far the largest cumulative emissions. Developed countries continue to increase them, and to make matters worse, they fail to deliver on even modest promises to help poorer nations deal with the effects of the climate crisis wrought by the rich world.
Instead, U.S. banks have contributed to the looming debt crises in many countries, often showing indifference to the depravity of the resulting suffering.
......
Europe and the United States are good at educating others both morally and economically. But the usual message ...... is “do what I say, not what I do”.
......
what China is good at is not lecturing, but providing hard infrastructure for poor countries.
......
The Cold War was ultimately won by the soft power of attraction and persuasion. To stand out, we must convince the rest of the world to not only buy our products, but also the social, political and economic systems we sell to.
https://newestnewstoday.com/opinion-how-...-cold-war/
