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“After careful analysis, Xi concluded that Gorbachev made three fatal errors. He relaxed political control of society before he had reformed his country’s economy. He and his predecessors allowed the Communist Party to become corrupt, and ultimately hollow. And he “nationalized” the Soviet military, requiring commanders to swear allegiance to the nation, not the Party and its leader. As a result, this “left the Party disarmed.” When opponents rose up to overthrow the system, in Xi’s words, there was nobody left who “was man enough to stand up and resist.”36”
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
“Former Australian prime minister Kevin Rudd, an astute China watcher, has described the country’s explosion as “the English Industrial Revolution and the global information revolution combusting simultaneously and compressed into not 300 years, but 30.”28”
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
“You know as well as we do that right is a question that only has meaning in relations between equals in power. In the real world, the strong do what they will and the weak suffer what they must.”
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
― Destined For War: Can America and China Escape Thucydides's Trap?—A Critical Examination of Historical Patterns Leading to War Between Great Powers
“In polite company in Washington and Silicon Valley, it was easier simply to repeat words like multilateralism, globalization, and innovation, concepts that were too vacuous to offend anyone in a position of power. The chip industry itself—deeply fearful of angering China or TSMC—put its considerable lobbying resources behind repeating false platitudes about how “global” the industry had become. These concepts fit naturally with the liberal internationalist ethos that guided officials of both political parties amid America’s unipolar moment. Meetings with foreign companies and governments were more pleasant when everyone pretended that cooperation was win-win. So Washington kept telling itself that the U.S. was running faster, blindly ignoring the deterioration in the U.S. position, the rise in China’s capabilities, and the staggering reliance on Taiwan and South Korea, which grew more conspicuous every year.”
― Chip War: The Fight for the World's Most Critical Technology
― Chip War: The Fight for the World's Most Critical Technology
“There are at least three ways in which bubbles can be useful. First, the bubble may facilitate innovation and encourage more people to become entrepreneurs, which ultimately feeds into future economic growth.9 Second, the new technology developed by bubble companies may help stimulate future innovations, and bubble companies may themselves use the technology developed during the bubble to move into a different industry. Third, bubbles may provide capital for technological projects that would not be financed to the same extent in a fully efficient financial market. Many historical bubbles have been associated with transformative technologies, such as railways, bicycles, automobiles, fibre optics and the Internet. William Janeway, who was a highly successful venture capitalist during the Dot-Com Bubble, argues that several economically beneficial technologies would not have been developed without the assistance of bubbles.10”
― Boom and Bust: A Global History of Financial Bubbles
― Boom and Bust: A Global History of Financial Bubbles
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