Chongqing’s mountainous, cyberpunk panoramas and sticky summer heat seem worlds away from flat and dry Detroit. But carmakers in the Chinese metropolis cannot stop drawing parallels with the American city. Standing outside one of Chongqing’s sprawling car-assembly plants, a boss at Changan, a state-owned auto giant, notes with pleasure that the sheer number of cars being produced in the city—some 2.5m last year—has earned it the moniker “Motown of China”.
In 1935, Roosevelt introduced “The Social Security Act,” which passed in Congress. However, the act was described as “Old Age,...
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Yves here. Michael Hudson provides a forceful indictment of how America’s economic posture towards its nominal allies has changed from...
Yves here. This Wolf Richter provides some important context on the status of the dollar. Recall that 1994 was just...
COMMENT: Marty, all I can say is WOW! I have a PhD in economics. You drop bombshells here and...
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