China's refusal to sign the G20 finance communique reveals a fiction Washington depends on. Warwick Powell, adjunct professor at Queensland University of Technology, joins me to show that the line between market and non-market policy never actually existed, and that every industrial power, including the United States, was built on state intervention. Warwick argues the real imbalance sits on the capital account, where American money now inflates Wall Street instead of building factories, while China's state-owned banks stayed disciplined toward production for eight decades. We look at why 2015, the year Chinese owned manufacturers overtook foreign firms operating inside China, marks the real turning point behind the overcapacity complaints. What America calls Chinese overcapacity, Warwick argues, is Global South demand finally being met after dec ...