The production relations and superstructure in productivity theory are management models, the tools in productivity are scientific and technological products, and labor and natural resources can be transformed into capital.
China has completed industrialization and become the largest industrial country in the world. Today, the world's GDP is the largest country, and the United States relies on financial derivatives to become the largest financial country. On the one hand, she exported US dollar capital and technology to the world, including China and Southeast Asia, on the other hand, she bought back goods produced by cheap labor from these areas with US dollars, which led to the transfer of domestic industrial capital to the outside. The consequence is that the financial industry has prospered and enriched 300,000 Wall Street financial elites, but it has brought hundreds of millions of middle classes back to the bottom, and finance cannot provide so many jobs for industrialization. As a result, America's military industry and high technology have lost their domestic support, and American political elites have to go against globalization and re-industrialize America. This is the readjustment of financial colonialism, but it is by no means the end of financial colonialism, but the perfection of dollar financial colonialism.
The United States is worried that the dollar will be challenged by rm coins, moving from cooperation to competition, and the American ruling team even proposes a new cold war with all-round confrontation. This is a long race, especially a marathon.
Born in sorrow, died in happiness!
A country is lucky to have a close opponent! The cold war promoted the development of science and technology. It is precisely because of the cold war that mankind has satellites, modern space technology and computer internet, which has pushed human society into the information technology era. Information technology should be a scientific and technological revolution. The future artificial intelligence Internet of Things, smart chips and smart factories are the continuation and sublimation of this revolution. Experts call it the fourth technological revolution. We are in the age of dark intelligence before dawn and are coming!
Before the arrival of the scientific and technological revolution, countries all over the world kept making money, creating credit for GDP growth and promoting capital growth. In the era of capital surplus, they rely on financial derivatives to absorb money and credit, and finance snowballs, showing the expanding market value of stock market, bond market and housing market!
This car of human society is constantly spinning in the same place by relying on the engine of capital! And the technical and management wheels are stuck!
In 20 19, there were more than 4,500 banking financial institutions, more than 30 securities companies and 230 insurance companies in China. The total assets of the financial industry are 300 trillion yuan, of which the banking industry is 268 trillion yuan, ranking first in the world. China's bond market has exceeded 90 trillion yuan (about 13 trillion US dollars). This means that the size of China's bond market has surpassed that of Japan, ranking second in the world.
At the end of the first quarter of 2020, the balance of RMB real estate loans was 46./kloc-0. 6 trillion yuan. According to the data released by the central bank, in 20 18, RMB deposits of financial institutions nationwide reached 176. 13 trillion yuan, of which the total deposits of residents nationwide reached 72.4 trillion yuan.
In 20 19, the local government debt in China was 24 trillion yuan, and the local fiscal revenue exceeded 24 trillion yuan. Most of these debts are investments in infrastructure debt cities, and investment products cannot be traded in the market. There are also industrial funds, which have income, most of which are returned by the government.
In 20 18, the local debt balance was 18.4 trillion yuan, and the local fiscal revenue in 20 18 was 24 trillion yuan, of which the land transfer revenue was 6.5 trillion yuan.
At the end of 20 19, the market value of Shanghai and Shenzhen stock markets totaled 610.6 trillion yuan, making it the second largest stock market in the world. In 20 19, the total GDP of China was 99 trillion, and the market value of A shares accounted for more than 60% of GDP.
The total market value of real estate in China now is 65 trillion US dollars, equivalent to 450 trillion RMB, which is the sum of the housing markets in the United States, Germany and Japan. The market value is the current market value of so much money. How much is a suite and a house that can't be cashed out? This is virtual wealth, just like the stock market value, called virtual economy.
In 20 19, the downward pressure on China's economy increased, and the national GDP growth rate dropped to 6. 1%, and the economic growth rate hit a new low in recent 29 years. The marginal benefit of capital-driven investment economy is decreasing, while the endogenous economic growth momentum of science and technology is far from starting!
China's finance has expanded depending on land appreciation. Local governments continue to borrow money to develop urban investment infrastructure and sell land at value-added land prices to pay off debts. Banks lend a lot of money to houses on the land, and the housing market needs more RMB for a large number of transactions. M2 manufactured by banks is expanding. Houses are financial products and value-added wealth management products, and a large number of enterprises hold real estate wealth management.
Surging real estate capital has swallowed up a large number of villages and farmland, and natural resources such as land, water and air are no longer the basis of ecological civilization on which human beings depend. Man and nature, which were originally integrated with nature, were transformed into reinforced concrete real estate buildings by capital, not for living, but as a source of profit for capital!
Financial derivatives trading in the United States is realized through futures stocks and bonds, while credit growth in China depends on land. If the anchor of the dollar is oil futures, then the anchor of the renminbi is land finance.
Land finance has only a large amount of capital construction funds, local face-saving projects, debt caused by overspending and residential mortgage, resulting in countless RMB.
It is known that dollar hegemony and technological hegemony, as well as American culture and values, are the four pillars of American hegemony. Among them, the hegemony of the dollar is only the trade of petrodollars? No, that's all!
The issuance of US dollars means that the US Treasury Department issues bonds and borrows money from the Federal Reserve, a private organization, which is equivalent to the imperial court borrowing money from private banks to make up the fiscal deficit. The national debt itself is that the European royal family borrowed gold coins from bankers in order to raise war funds. Later, the white stripes became paper money, not gold coins. Dollars are white bills of the United States government! The Fed has no right to issue dollars privately. Only when the U.S. Treasury Department issues a large number of U.S. bonds will the Federal Reserve change a large number of U.S. bonds into small ones, that is, dollar bills. Qian Shengqian's game was originally played in debt interest, and later it was extended to corporate bonds and residents' loans. Corporate debt-to-equity swaps, from interest payments to dividends, have new IOUs, which are stocks!
White bars are no longer exchanged for gold coins and gold bars. White stripes are credits and IOUs. Modern paper money, stocks, bonds and futures are all white stripes. Behind the white stripes are credit and convertible IOUs. Once there is fraud, the white note has no credit, which is a note!
Modern capital comes entirely from credit, that is, money and debt. Capitalists open factories with their own money and borrowed money. Generally speaking, he borrows money from banks by issuing bonds. This is the initial capital. When a banker opens a bank, he has to borrow money from the central bank in addition to his own money. The central bank is responsible for making money. It's called borrowing. The central bank is responsible for lending to banks. The money earned by the central bank is national credit. The dollar issued by the Federal Reserve is the white paper money of the US government.
Look, the head of Washington, the father of the United States, is printed on the dollar! The Federal Reserve is private, and the US dollar is an iou from the US government!
In the modern national economy, in order to let people work and produce to create wealth for the country, the country will pay you and give you IOUs, which used to be real money. In ancient China, white stripes made of iron or copper replaced whips. Slave society is forced labor, without IOUs, workers are not free. Feudal society and capitalism have given you freedom, but the wealth chain is taxes and IOUs, and everyone can't earn these two chains all his life.
Dollars are handed over to the Federal Reserve through the U.S. Treasury Department, and then the Federal Reserve turns it into a Zhang Xiaobai bar for personal exchange. This is the first cycle! Unlike RMB, the People's Bank of China is not allowed to buy treasury bonds from the Ministry of Finance, but to buy other bank bonds and foreign currency to start the first cycle.
The U.S. Treasury used borrowed dollars to buy arms and spend money on war, including infrastructure. This disaster relief paid money to the people. In 2008, during the financial crisis, the US Treasury rushed to allocate funds to difficult enterprises, including General Motors. The U.S. Treasury has issued 26 trillion national debt to spend, more than that. Due to the depreciation of the dollar held, countries all over the world are afraid to buy American bonds. The fed said, you won't buy them, will you? I will buy it myself!
The dollar credit was destroyed, and after playing for more than 200 years, the gameplay suddenly changed. You say, can everyone not doubt your mind? What is even more worrying is that the US government gave money to the people and bought many foreign goods. Countries that earn dollars export a lot of goods in exchange for American white dollars, while the US government can send dollars to people and enterprises, and people can exchange white bars for goods from various countries without labor and enterprise creation. What are these goods? It is the manpower and material resources of exporting countries. How much dollars did they get? It's a white strip! These countries that have earned a lot of IOUs are afraid of the depreciation of the US dollar, so they lend money to the US government and exchange it for national debt to collect interest. Interestingly, the U.S. government only pays interest when borrowing money, but does not repay the principal! You want to take back your capital, sorry, cheat another person to take over! Like stocks, IOUs don't have to pay back the principal, only the interest! The U.S. government is a fool if it doesn't borrow, but also pays interest and dollars!
Why are all countries willing to accept dollars?
You said it was because of some forest agreement, but Europe broke its word and created the euro. Up to now, USD accounts for 40.08% of the global payment market, EUR accounts for 34. 17% of the global payment market, and GBP accounts for 7.07% of the global payment market. The Japanese yen ranked fourth with a share of 3.79%, and the Canadian dollar ranked fifth with a share of1.79%. The Australian dollar and the Hong Kong dollar ranked seventh to eighth with 1.45% and 1.25% respectively.
Saudi Arabia accepts the settlement of oil dollars, because the US military controls the main maritime routes, otherwise the US military's maritime inspection will prevent Saudi oil from being shipped out! Israel, throw bombs at the oil field!
At that time, the Soviet Union's CMEA was barter, and the Soviet Union was not short of oil. Saudi Arabia can only accept dollars, otherwise the money of any country like Venezuela is really white!
Besides oil, there is food. Countries that export commodities exchange US dollars for food, and some countries exchange US firepower, such as the United Arab Emirates and Kuwait in the Middle East, in order to obtain US military protection.
The United States has a good natural endowment, and there is much arable land and food. It is used as feed for cattle, pigs and chickens, and also as fuel!
Southeast Asia, Japan and South Korea exchange dollars for American technology!
The United States has a strong ability of scientific and technological innovation, and modern information technology infrastructure and computer internet are controlled by it. In the future, the United States will try to control artificial intelligence chips in the Internet of Things, as well as cloud computing and big data.
A country's capital can be endogenous, can come from credit, including its own currency and debt, and can also be concentrated on manpower. For example, in the 1960s, manpower was concentrated on agriculture and water conservancy, and the world's factories were concentrated on migrant workers. But the technology is difficult! Need experience and technology accumulation, as well as talent organization and management.
Vietnam, India and Bangladesh can all use dollars to produce low-end and cheap goods. It's hard for you to get him to export technology products!
China can, and there are abundant talents. As long as the organization and management are in place and the capital investment is in place, it can lead the scientific and technological revolution through innovation! China is an industrialized country with the largest number of college students and engineers in the world. Moreover, it has excess capital, not short of RMB, but short of technology and time! There is also management system innovation!
In fact, it is technology and management that promote the progress of human civilization. One leads to the scientific and technological revolution and the other to the social revolution, and capital only depends on them to gain benefits. As for cultural values, it's just a bluffing idea, something that the United States has done to help cliques.
Author: Nong Mencius