Scott Bessent 'We Are Going to be the Largest De-Regulated Economy in the World'

by Scott Creighton 

UPDATE: 3:22 mark of this video talks about Chinese exporters deciding to withhold products from U.S. markets and just before that it talks about China making arrangements to sell to other nations. Seems like China has decided to deny the Glorious Trump the 145% tax he intends to collect from the American people on Chinese goods.

 

In an interview on CNBC, Treasury Secretary Scott Bessent said it was the Trump administration's ultimate goal to turn the U.S. into the largest de-regulated economy in the world which would make us into what China USED TO BE back when they were the darlings of neoliberal globalists and MOST OF THEIR WORKERS lived in abject poverty.

 'What this administration is committed to is keeping the U.S. the best place in the world for capital to arrive. We are going to have tax certainty we will not be taken advantage of in trade anymore and we are going to deregulate uh the largest deregulated economy in the world. ' Scott Bessent

You have heard neoliberalism or free market ideology called the Washington Consensus right? Well what happened in China under Deng Xiaoping and continued under Xi was called the Beijing Consensus which replaced our savage capitalist free market system in China which produced an abject poverty percentage of people in the country at somewhere around 96%.

 

Beijing Consensus ideology, though still maintaining some parts of neoliberal globalist cannon, married a government control over the 'invisible hand' which pissed off many U.S. investors and business owners who loved their de-regulated environment.

'So, China embraced liberalization and a free-market economy while maintaining a Dictatorial one-party political model and continued to register double-digit GDP growth rates for three decades. 

Chinese economic progress was unprecedented in history, making it the second-largest economy in the world.' Diplomatist

' In 2004, the phrase "Beijing Consensus" was coined by Joshua Cooper Ramo to frame China's economic development model as an alternative—especially for developing countries—to the Washington Consensus of market-friendly policies promoted by the IMF, World Bank, and U.S. Treasury'  Wiki

China had  been at one time the model of Laissez-faire capitalism is ' an economic system where the government minimally intervenes in the economy, allowing market forces to determine prices, wages, and production.' which produced a vast number of people working long hours while living in abject poverty. But it also produced a ton of very wealthy people living both inside China and out. Mostly out.

But then a new set of leaders came to power with a slightly different set of ideas which involved heavy state control (regulations) on industry and workers' rights and protections as well as severe limits on foreign ownership of the means of production.

They went from a free market economy to a regulated market economy and as such... 1. oligarchs began to hate China 2. China became a powerhouse and leading global economy and 3... China rose more people out of extreme poverty than any other nation in history.

 

It seems that Bessent and the Trump administration are looking to make America Great Again by turning us into Laissez-faire China.

At the same time the Trumpers are telling Republican congressmen to arrest or remove dissenters from town hall meetings while steadily building tons of new ICE detention facilities in places where it seems they might have access to local industries.

Separately all of these things don't raise too many eyebrows but taken together...?