Caliban told Prospero in Shakespeare’s “The Tempest,” “you have taught me the language, my profit is I now know how to curse.” This cultural exchange is a universally found in global decisions that seek power and wealth! Trump is wrong: his curses are impotent; his fetish powers are dead. He can not tell China what to do; it will never follow his orders. Too many markets throughout Asia, South America, Africa, and Europe eagerly purchase from China high tech, high capital manufacturing (trains, hospitals, smart phones). Trump is cursed and shipwrecked by a thousand Calibans.
The market is caught in the vicissitudes of the curses of capitalism focused on capital and not on production. China has one million millionaires and produces over 1,000 new millionaires daily. Did it not realize that private wealth would create its own demand for capital no longer tied to industrial output and labor’s added value? That the state itself seeks capital wealth? Capital wealth depends upon–demands–volatility. The winning and losing of giant bets, not steady growth.
Capital wealth thrives on scorched earth, consuming all resources as a fuel for hoards of cash. But let’s not make China a scapegoat. Greed has many forms. We still drink overpriced lattes, eat hormone-free beef on a bun; America’s corporate sauce is still poured over its profits; Walmart and Verizon are unaffected.
In the streets, we say, “game recognizes game.” In the halls of power and wealth, greed recognizes greed. See it now.