The Socialist Program welcomes Richard Wolff to discuss the success of Huawei despite U.S. sanctions and the role of state funding in its growth. Wolff criticizes the propaganda around government subsidies, stating that such support is common in the U.S. and plays a crucial role in industries like agriculture and defense. He highlights the failure of economic warfare, exemplified by sanctions imposed by the U.S., and emphasizes the decline of the American Empire. Wolff contrasts the economic models of China and the U.S., noting China's hybrid 50-50 split between private and state-owned enterprises and the different outcomes of their industrial policies. Lastly, he points out the ideological bias in narratives about Huawei and stresses the need for informed discussions on economic warfare and government subsidies.
