Compared to Europe the US has turbo speed of self-correction. EU is not doing well and it will do worse over the next decade and there seems to be no political will to put the economy back on course. Just add more regulations, costs and spending and hope for the best seems the current mantra.

Right now corporate bonds are sold at lower rates and have better credit than the public bonds for a country like France. Combination of no faith in political stability and no faith in the ability to get spending under control.

I think a lot of EU countries are going to just keep stumbling into a financial crisis that will force cuts in pensions and wealth-fare at a scale not seen post ww2. The pyramid scheme is coming due.

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ben_w 9 hours ago | parent | next [-]

Unclear why Europe's capabilities are a relevant come-back to a comparison between the US and China.

May be correct, the EU as an organisation isn't very powerful compared to member states, may be false, EU member states are much more diverse than American states.

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christkv 9 hours ago | parent [-]

because it's about the ability to course-correct and I mentioned that compared to the EU it's operating at turbo-speed.

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ben_w 8 hours ago | parent [-]

> because … and I mentioned

An action is not a justification for itself

	▲	Imustaskforhelp 6 hours ago \| parent [-]
		When I read this, I immediately thought of the ouroborous Side note but I just really like / appreciate ouroborous given how absolutey ridiculously powerful it was in the inscryption game (https://store.steampowered.com/app/1092790/Inscryption/)

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mallowdram 10 hours ago | parent | prev [-]

The US doesn't course-correct, it barrels through when the outcome is appalling (1933) and when the leadership takes advantage of a break in the pattern (1964/1981).

The immobility of the US political system indicates it is ready to be broken in half, the reality of corporatocracy is that it is an endgame to itself in arbitrariness. Whereas all China has to do is exert its state economy leverage once the West's corporations/bonds evaporate.

The Chinese see resonance, interdependence, relationships. It's baked into their language. We see attributes, objects, units, individuals. We imposed these onto their businesses for the last 30 years, but don't think for a second we've dominated their culture. They are now far more able to use their language's inherent forms as guides to the economy.

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nradov 9 hours ago | parent | next [-]

That's a bizarre non sequitur. Language has nothing to do with economics.

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christkv 10 hours ago | parent | prev [-]

You are to captured by your ideology. It does not really matter what you personally think about. The thing is that the EU has completely failed as a union to provide the economic growth we need and has no plan on how to address this. We are completely export dependent (about 50% of GDP, meaning any world economic crisis will cause massive unemployment and fiscal crisis) and our internal market has withered and the purchasing power is plummeting.

China is going to do what China does but it's economy is in tatters something you would probably know if you actually looked at what is happening with their economy. Combine that with the same demographic crisis as EU and you have another country that might have already hit it's economical peak. The leadership is showing no ability to create an internal market and is busy stomping out any dissent internally as economical reality sets in and people loose jobs and their future. Unless their turn their economy around creating an internal market any international economic crisis will collapse their export oriented economy.

	▲	oezi 5 hours ago \| parent [-]
		I don't know why you think everything is so bleak. Yes, Europe is inter-connected to the world. We export a lot and we import a lot. Unemployment in Europe has been not been terrible for a long time. Of course there is room for improvement and there are political challenges, for instance to enact the pension reforms needed for the demographic changes but Europe has achieved also a lot we can be proud of. Without Europe and without the single market, we would be facing the same issues Britain is facing: Being too small, unable to regulate anything on their own, dependent on foreign trade partners, etc.