The Economic Harakiri of Capitalism – Rebelion

More than half a century after Henry Kissinger’s first visit to China, globalized capitalism—especially in its western variant—faces an ironic paradox. His own recipes of success—globalization, cost minimization, and maximization of profits—are accelerating his decline. What began as a process of globalization based on reducing costs and maximizing profits, ended up leaving the United States and Europe dependent on the supply chains they themsel…