[Richard Wolff] The United States of Denial

States can’t easily accept unpleasant realities like their power is waning. America is no different. In geopolitics, China is an ascending power and challenging U.S. hegemony. Unlike in the past, China can’t be easily pushed around. Its top diplomat says Washington “is in no position to make demands of China.” Economically, China’s GDP is projected to pass the U.S. in the next decade. The U.S., riven by internal contradictions, ever-growing inequality and factionalism, is losing ground to China. But in one area it remains dominant: the military. It is building new bases in the Philippines completing an arc of U.S. forces around China. How would Washington respond if China surrounded the U.S. with bases? “Denial is never a good idea,” says economist Richard Wolff. “We have to face what’s going on. Otherwise, we are going to get ourselves into one mess after another.”

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