Believe it or not, today’s video deals with a surprisingly persistent piece of conventional wisdom. I honestly couldn’t tell you where I picked it up, maybe Niall Ferguson, but it’s something I unthinkingly believed for decades. The idea is that countries that were colonized by the British were better off than those colonized by the French, because of superior British institutions, or better management or whatever. I hardly thought about this old assumption in my two years researching the British Empire. Serious books of history don’t try to make this claim. But once the vids started coming out, it started cropping up in the comments.
This is one of the most fun things about studying history. If you build up a base of knowledge, you can occasionally get these sudden “Ah-Hah!” moments when you realize that something you’ve always believed is unmitigated balderdash. Today’s video wrote itself with very little prompting. If you have a cursory knowledge of the history of the countries in each of the Empires before and after colonization, it becomes clear how silly this old story is. And with this video, I get to make it clear to everybody else too… I love my job.
I feel like markets and economics have been an underpinning of what I’ve been talking about for quite some time now. It’s been a troubling thing for me. There’s always a lot of certainty when these issues come up in political discussions, but usually almost nothing backing up that certainty. The conditions we’re looking at are always changing, and the theories that people gravitate to are some of the least proven imaginable. Economics has pretensions to being a science. But the variables are immense, and there’s really only one result.
We have one world economy, and its performance at any given time is the only thing that we have to point to, to see whether our theories are working. There is no control group. Most of the figures we rely on to measure what’s going on are little better than rough estimates, and the political consensus rarely lasts a decade. I have high hopes for the profession of economics. People are doing amazing work in the field, and the move onto the internet that our species is currently undergoing provides the possibility of real measurement (and Orwellian nightmares). I’m confident that the future is bright, but I think we all need a lot more humility in talking about the economy. Which is why I made today’s video, and why I’ll be adding to the series in the coming weeks…
Watching today’s video, I don’t think I really hammered home the point I was trying to make with the section on Wolf Warrior 2. So let me do that here. The Chinese public is being primed to embrace the idea of “humanitarian” intervention in Africa. Modern China doesn’t have much of a history of international adventuring (other than scoring points on its borders with India and Vietnam), but “Chinese Hollywood” is doing its best to build support for it. The Chinese public apparently has a tremendous appetite for this kind of film. If you look at this list of the biggest Chinese blockbusters you can get a sense of just how dominant Wolf Warrior 2 has been. But following up in second place we have this year’s Operation Red Sea, which is apparently a vastly exaggerated recounting of the Chinese Navy’s extraction of Chinese nationals from the war zone in Yemen.
I actually sat through both of the Wolf Warrior movies, and I have a very long twitter thread to show for it. I’d recommend you read that twitter thread. The first Wolf Warrior film presented a very standard, and very old message. Essentially: “Leave Us Alone!”. The first film provided a bit of weird cognitive dissonance for this American viewer. It was profoundly odd to see all the tropes of large scale US action film making translated into a Chinese context. It was weird fun, but there was little in the message presented to object to.
As you’ll see if you read the twitter thread, Wolf Warrior 2 was not fun. It was downright scary. The messages presented were heavily in favor of intervention, and the whole movie implied that China had a responsibility to help the poor defenseless Africans its with massive military power. This is of course just a mirror image of the messages that Hollywood has been pumping into the US public for decades. It’s profoundly disturbing to see China’s nationalist messaging moving in the same direction. But that’s what is happening. Wolf Warrior 3 is apparently going to be about fighting terrorists. It’s really, really sad to see China adopting the worst parts of US militarist ideology. It’s hard to see how it won’t eventually lead to conflict, as I point out in today’s video.
Oh, and if you want to check out my whole “World War 3” series thus far, which takes a serious look at how this conflict, which I view as being decades off, might take place you can check it out here…
Over the past year Saudi Arabia has experienced a perfect storm of factors in its favor. Asset prices in the US economy and elsewhere have gone nuts. Saudi Arabia is a country that owns a lot of stock, land and everything else, so that’s been very helpful. On the oil market front, the most important front there is for Saudi Arabia, they’ve had unprecedented cooperation on the OPEC production slow-down, and a series of competitors have given up millions of barrels a day in production due to sundry wars and dictatorships.
If Saudi Arabia’s ambitious plans for the future were ever going to work, 2017 would have been the year for it. But as this video shows, some of the key metrics that illustrate the hole Saudi Arabia is in haven’t changed much at all. As I said in last year’s video, and as I repeat in today’s video… Saudi Arabia is still finished.