Reaction to State Department urging divestment of Chinese companies - Richard Wolff

"It used to be the philosophy of capitalism that the government has no point, no place choosing winners and losers in the private sector... None of that [here]. We're now going to have the government tell us what to do."

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Prof. Wolff's latest book "UNDERSTANDING SOCIALISM"

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[Ardyen]

A FOIA request showed that in 2018 the Industrial & Commercial Bank of China held 221, 278 shares of the Federal Reserve Bank of New York. Do you think Mr. Pompeo will tell the FED to get rid of their Chinese shareholders Professor Rick?

[ramonching]

These crazy politicians are demanding you sacrifice your well-being for their personal gain.
Now it should be absolutely clear who is your friend and who is not.

[jacobrocks]

Great job Richard. Love your commentary.

[jeffreystliow]

Mr Pompeo will soon be sending out directives on what toilet paper to buy for your backsides. Made in USA of course.

[lluow]

I watched a clip of WSJ yesterday about rural Americans have to pay couple of hundred dollars/month for internet. The reason they figure out is that there’s a lack of investment in the areas or it simply isn’t profitable to provide internet services to people of rural areas. It makes me sad that the US has to turn down the affordable alternative solution provided by Huawei on the ground of BS national security while its citizens can’t access to a decent internet service.

[nixoni.bogaine]

Laughable. How can corporations “divest” from the productive capacity they‘ve worked to offshore for decades? It’s total theater.

[DanA-nluo]

I recommend they divest from the ff industry and double down on renewable energy. But I suspect the state department would disagree with me.

[betkay]

Don't know how Prof Wolff keeps ahead of the game !! Guess he has developed some unique strategies to short circuit the process !!

[idaolea]

was in malaysia 2, 5 year ago, there was an american who tryed to pay for food at airport with reserve notes, the casheer took up a plate say usd$ illegal tender, soon this wil play out all over Europe and all of Asia. Wish i had this on video from airport.

[patrickwinn]

Yes, I couldn't agree more with you.

[edrowlands]

Board of companies do what is best for the owners or their share holders, if manufacturing in China fits their strategy no Trump arrogant administration will make them change their minds unless they tax incentives that reduces the costs of inputs. Do you think they are going to spend billions in relocation costs just because politicians tell them to?

[dondattaford]

The continued process of knocking the American establishment out of the bigger picture

[cinnamont]

What if Trump wins the election again? Is he going to tone down his and Pompeo's rhetoric? While the US deserves him if they vote for him again, I fear the world will become a more dangerous place. The US is the greatest military power on this planet and for Trump to use. It will be like giving a 5 year old a loaded gun to play with.

[stevenwelp]

Doesn't China already own the United States of America outright, soil, water, air, infrastructure, etc., anyway?

[hongweiyu]

We should invite this professor to China for a scholar speech on how China and US should work together to benefit the whole world?

[leovolont]

First time I remember that Wolff, who says he's a Socialist, hasn't attacked Socialist China for not being a Liberal Democracy. But he did call China a "capitalist" country. I suppose that is him being passive aggressive.

[AprilWatters]

I can't help but feel its exposing the debt $$ for what it is that's at the root. Not using $$ to measure "wealth", not calling Sociopaths "rich" or "billionaires", Call th I gs and people what they ARE as measured by Natural Law. Not debt $$, the fake mesaure

[lloydmoore]

Government is so present in every aspect of Americans life today, without government this present capitalist system would have failed a long time ago honestly speaking, why do they not have more say in terms of regulation and caps?China is capitalism but all are under government regulations.

[Shamino]

Government-controlled lending, when done with the moral and ethical imperative of lifting up the country, works exceptionally well when properly enacted. Or are we going to ignore Japan's meteoric rise in living standards, life expectancy, income generation, and social-stability? They achieved this by lending low-interest to industries that required it, and denied additional loans and funding to industries which were self-sustaining.

[helpAmerica]

Don't support Good Year, they won't wear the kings hat.