What China learned from US capitalism’s development

US capitalism was, in certain ways, the world’s most successful capitalism until recently. Better than the capitalist systems of Britain, Germany and Japan, US capitalism avoided two key traps.

First, it found a remarkable way to manage the capitalist-worker-class struggle for a long time before it lost that capacity. The United States also found a way to organize its imperial rule without the overt colonialism that provoked rising resistance that eventually became too costly and unmanageable for Britain, Germany, Japan, and other colonial powers.

But in recent decades, US capitalism failed to manage its class struggles or to reverse the decline in its informal imperialism.

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