Bessent is ordering China to abandon its state-owned economic model (which is the primary reason for its success) to ensure that the world’s wealth remains in the hands of the world’s richest Capitalists. In other words, Bessent is candidly admitting that he is leading the effort to obliterate the most successful “economic development model” in history simply because it is not under the control of voracious western oligarchs. It’s not only an admission that the tariffs are a smokescreen aimed at concealing the administration’s real motives (access to China’s financial markets). It is also an admission that the western model is no longer competitive because the (Chinese)state recycles profits into more productive outlets while western oligarchs divert profits into stock buybacks, dividends, derivatives-trading and other forms of unproductive activity. One system creates an optimistic future for all of humanity while the other generates crushing poverty, political instability, and war.
