On WTFinance, Richard Wolff discusses the decline of the American empire and its economic consequences. The US dollar loses ground in global transactions and reserve holdings, weakening a core pillar of American influence. China expands as a major economic competitor, reshaping trade and investment patterns. Tensions within the G7 strain coordination among Western powers. Military spending rises in the United States and Europe as domestic economic pressures intensify. Artificial intelligence threatens new disruptions in employment and financial stability. European social welfare systems face mounting stress, while democratizing enterprises offers a structural response to the deeper crises within capitalism.
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Good analysis