points out nearly half of the liquidity provided by the federal reserve was used by european banks. timothy geithner told me recently we recognized that it was in our enlightened self-interest to save the dollar-based international financial system, and that required helping others, not just ourselves. he acknowledged that much of the global cooperation happened because many of the key players around the world were instinctive multilateralists. we all knew that we wanted to prevent the naturalism and protectionism that caused so much damage in the 1930s. alas, while the response to 2008 succeeded economically, it failed politically. it unleashed a wave of populism and anti-elitism that crippled the response to today s crisis. men like donald trump, victor orbon, jaro bowls narrow
president with having more power and influence, wealth and privilege than anyone continuing portrays himself as an antielitist men of the people. he exploited an op-ed in the washington post, as much as i would love to sleep soundly again knowing somebody took the presidents finger off the nuclear button, his sharpie away from government maps, and his twitter pulpit away from global trade, impeachment is a bad idea because it supports the populist narrative. he made the same point in an appearance on msnbc. impeachment looks really elitist and people do not like the elites right now. i m the only one out there defending them. michael moore also appearing on msnbc on a different show took a different view to joel stein, saying many trump voters have driven not by antielitism, but by fear of demographic change and more compared those
would simply play into the hands of our president while having more power and influence, wealth and privilege than almost anyone continually portrays himself as anti-elitist man of the people. in an op-ed in the washington post, quote, as much as i would love to sleep soundly again knowing someone took the president s finger off the nuclear button, his sharpie away from government maps and his twitter away from global trade, impeachment is a bad idea because it supports the populist narrative and he made the same point in an appearance on ms nbc. it looks really elitist and people don t like elitists right now. i m the only one defending that as far as i can tell. reporter: michael moore appearing on msnbc on a different show took a different view to stein s suggesting many trump voters are not driven by anti-elitism but fear of demographic change and he
first, it s not clear that china is an adversary, certainly not in the cold war sense, but rather a competitor. more important, while china has great strengths, it also has weaknesses. consider president xi jinping s situation. growth in china has slowed substantially. it is being bolstered because local governments and state-owned companies are borrowing vast sums of money. the country confronts a future with fewer workers, the consequence of its one child policy, itself a classic example of the dangers of a dictatorship and planned economy. perhaps above all, china has a political system that faces real pressure. in a global age of populism and anti-elitism, china is still ruled by a cod dree of distant elites. the communist party of china maintains power through the promise of growth and the application of force. it uses an elaborate system of censorship and sophisticated
often make the mistake of thinking their adversary is 10 feet tall. first, it s not cheer china is an adversary, certainly not in the cold war sense, but rather a competitor. more important, while china has great strengths, it also has weaknesses. consider president xi jinping s situation. growth in china has slowed substantially. local and state-owned companies are borrowing vast sums of money. the consequence of its one child policy, classic example of the dangers of a dictatorship. perhaps above all, china has a political system that faces real pressure. in a global age of populism and anti-elitism, china is still ruled by distant elites, communist party retains power through the promise of growth and application of force.