For the last two decades, vast majority of Americans and Europeans have been facing stagnation in their living standards. The median wage of the American worker has been flat since the 1970s! Almost all European countries have been stuck in a flat line since the 2008 financial crisis.
Meanwhile, the “disposable” income — wages after all taxes — have been growing exponentially in China. And Chinese have decent universal healthcare, (practically) free college, world-class public transportation, clean and safe cities, 40,000km of bullet trains and so on.
The biggest fear of Western elites is for their voters to ask, “Hey, wait, why can’t we have nice things like the Chinese?”
Thus, the best way to avoid this embarrassment is constant anti-China propaganda. It’s also quite successful. On social media, you can see people bring up illogical anti-China talking points every time there’s a positive fact about China. For example: A photo of a beautiful metro in China will have comments like “Made with slave labor” or “It’s going to fall apart soon.”
There are plenty of articles, fake experts (like Peter Zeihan), and sensational YouTube videos about the impending collapse of China’s economy. First, they serve the purpose mentioned earlier.
Second, this serves to discourage investors and other countries from investing in China, whether it’s buying Chinese bonds/stocks or directing FDI or signing up for infrastructure projects or strategic relations with China.
Obviously, this is not working so well, since 147 countries have signed up for China’s Belt and Road Initiative; and as recently UBS’ Chief said, “Global bankers are bullish on China. We don’t read mainstream media!”
Anonymous
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