by Chris Black
A solid manufacturing economy (goods and services) is what makes a country great.
And by great country I don’t mean to say “financialized everything”.
China used to be the West’s industrial park, and now it has become the world’s largest producing economy. Real stuff, like cars, electronics, whatever.
It’s like Japan in the eighties magnified by a factor of maybe 5x, and back in the eighties, the US still had some manufacturing going on.
Walmart is the world’s largest company by revenue for the ninth consecutive year, and for the 17th time since Fortune magazine began ranking companies by size in 1995.
China flexes corporate muscles
China, including Hong Kong, had 136 companies on Fortune’s largest companies list — the most of any nation. The U.S. ranked second, with 124, while Japan was third with 47. And for the first time in the history of the rankings, the aggregate revenue of listed companies based in Chinese-speaking countries surpassed that of U.S. companies on the list.
The total combined revenues of Fortune 500 companies rose 19% over last year to $37.8 trillion — the equivalent of more than one-third of global GDP. Cumulative profits were up 88% over last year, reaching a record $3.1 trillion. The listed companies have a total of nearly 70 million employees around the world.
Walmart doesn’t produce squat. All they sell is Made in China.
The US government has done so much to destroy its own population that there isn’t any more time left.
They have to break China or they are going to lose.