Neoliberalism banked heavily on the idea that open global markets would fix everything. By encouraging companies to move out of the country and set up shop in low cost locations they could increase profits and dump the salaries of their own countrymen.
This of course has come back to haunt our geopolitical climate.
The success of Trumpism has been its ability to concentrate societal anger against immigrants and minorities while the oligarchs continue to amass even more wealth. The latest GOP budget doesn't even bother hiding the fact that money is flowing upwards at the expense of programs meant to help the people most in need. These programs are being stretched to the limit because people don't have reliable wages to be able to survive.
It's a recipe for implosion.
In the 1990's all this seemed like a good idea but as more people fell off the grid the backlash needed to be mitigated which is why Trump capitalized perfectly on that anger and distracted people many of who didn't understand the mechanics of what happened to their livelihoods. It didn't matter in the least that he was a buffoon if he could give his base the red meat they needed especially after the 2008 financial crisis had woken many of them up.
The rise of China can be attributed in large part to feeding the consumption of people who couldn't buy enough things when times were great and the iceberg was way off in the distance.
However the iceberg is here and it's time to pay the piper.
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