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Adonis Kokkorinos's avatar

If Europeans in Brussels open their mouths to tell the truth, they'll be in deep trouble! The majority is so brainwashed, they will fight you for the narrative they're trapped in! They will defend it with anger! That's our level in Brussels! A psychological case! One word: Orwell!

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Chris's avatar

A comprehensive overview, but I have one quibble and a couple of points to add.

The Suez Canal was already owned by Egypt and received (small) rents; it was the Suez Canal (operating) Company that was foreign owned, and took the bulk of revenues, which was nationalized.

That's brings up the first point: the French and the British resented America because it ended their empires. If (Western) Europe wasn't US-domunated during the Cold War, would things have been better off for smaller countries like Benelux, Greece, Denmark or the Nordics as pawns for "Great Power" UK, France, Germany to compete over? I think not.

The second point is that the world economic system at this time was different: Europe and the US (+Canada. Australia, Japan) were producer nations with a global industrial monopoly. The US provided a public good of stable financial order, enforcing market access for raw materials and exports for western countries. They took a cut off the top which benefited them disproportionately, and tribute in the form or arms sales - but that's the hegemon's perogative. First piece is always the biggest. But it was profitable for everyone, since they didn't have to fight for markets and resources (at the expense of the global south, but we're focusing on the European perspective & the global south would have suffered anyway, as it will with China).

The problem is that this "win-win" is no longer sustainable by the US political-economy (Triffin dilemma, hollowing out, etc) despite it still being preferable for certain elite/oligarch interests in both the US and EU. Everyone (US, EU, global south, China is tussling to renegotiate terms if trade. The big question is whether the west will go quietly like Gorbachev did, or will resort to arson. The West controls most of the food exports and is sufficiently endowed in energy and water to rebuild after a cataclysm, and thus maintain relative dominance.

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