Michael Hudson: How China Can Respond to America's Tariffs

Robinson's Podcast #234 - Richard Wolff & Michael Hudson: Karl Marx and the Fall of the West

Richard Wolff is Professor Emeritus of Economics at the University of Massachusetts Amherst and a visiting professor at The New School, where he works on economics in the Marxist tradition. Michael Hudson is Distinguished Research Professor of Economics at the University of Missouri, Kansas City and President of the Institute for the Study of Long-Term Economic Trends. He researches domestic and international finance, the history of economics, and the role of debt in shaping class stratification, among many other topics. This is Richard’s sixth appearance on Robinson’s Podcast. In episode #127, he and Robinson discussed some of the most profound criticisms of capitalism; in #154, they focused on the myths surrounding Marxism and Marx himself; in #190 they covered the Israel-Palestine conflict from a Marxist perspective; in #222 they assessed the end of the American Empire; and in #230, they talked about the 2024 election. This is Michael’s fourth appearance on the show. In episode #180, he and Robinson discussed neoliberalism, industrial capitalism, and the rentier economy; in #198 they talked about Marxism, economic parasites, and contemporary debt cancellation; and in #220, they cover the history of debt cancellation in the ancient world. But in this episode, Richard, Michael, and Robinson turn back to the present, and more particularly they focus on the role of Marxism in shaping today’s world and how ignoring his work is contributing to the rapid decline of the west. They touch on the role of Marxism in an economics education, the connections between communism, socialism, and capitalism, the crumbling American empire, the 2024 election, Russia and Ukraine, China and the BRICS, the strength of the dollar, Das Kapital, Paul Krugman, myths about Karl Marx, and more. Richard’s latest book is Understanding Capitalism (Democracy at Work, 2024). Michael’s most recent book is Temples of Enterprise (ISLET, 2024).

Robinson Erhardt researches symbolic logic and the foundations of mathematics at Stanford University.

[tonyy]

That's what Hegemonism is, exactly.

[chelseayorkshire]

Dr. Hudson always "hits the nail on the head." We love Hudson!!

[fffuu]

This will accelerate the decline and make this country into a defacto third world.😢

[michael.schuler]

Pride cometh before the fall. American arrogance already looms as its downfall. Trump exacerbates this trajectory. The track record of many of his business ventures bears this out.

[panmichael]

Is Trump overplaying his hand; with hopeful Americans cheering him on? We're about to witness a reckoning.

[Marck-cw]

This is what happens when you have a president that had 6 brankruptcy, no idea how global economy works😂

[someopinion]

One day, the black ships of some Chinese admiral will appear at Long Beach and demand US opens its economy.

[lenardcohen]

big tariffs have never worked, end of, america can survive on its own, but it will not proser, the steady decline will continue until half the country is in a third world situation, You just need to see what's happened already

[bobbyhumphries]

Imagine the work involved in mining the US sources of rare earth metals. All the employees (jobs) it would take when it's more cost effective to use our resources than import them 😮

[JoeBurns]

The tariffs are not an economic policy. They are a strategic weapon.

[faisalabdelkarim]

Tarriffs is supposed to protect the manufacturer in homeland not to be out of business when foreign cheaper product flooded the market.

[streetscholar]

He summed up the 'rules based order' well only I'd say Israel tells USA and USA tells everyone else that it was the USA's idea.

[michaelhenault]

They have their version. It's called the Middle Kingdom.

Free Trade is negotiated trade. China knows the game.

[caseyh]

Well, at least this guy understands Trumps proposed tariffs are a stupid idea. Cant say the same for his voters....

[Vanguard-cu]

You ain't seen nothing yet...gonna be a hellofa four years!

[SubhashKumar-jnvy]

Chinese Goods Reach in USA around 2 America company takes 24 Hours to produce same

[spaceorbison]

There's no such thing as countries it's all just one big business

[normankoo]

Prof. Hudson, Actually the ban of exporting rare earth metals is due to the semiconductor restrictions the US has done against China via all other nations. Tit for tat is the most effective game theory response. Let’s see how this plays out.

[michaelt.]

Not a rules based order, but based on international law.

[harisoepangkat]

That's called American hegemony. And the days of American Empire are numbered.