Forget China – it’s America’s own economic system that’s broken | Robert Reich

US weakness is inbuilt – the big 500 companies owe loyalty only to themselves and the public is shut out from prosperity

Xi Jinping might possibly agree next weekend on further steps to bring down China’s trade imbalance with the US, giving Donald Trump a face-saving way of ending his trade war.

Related: Elizabeth Warren’s economic nationalism vision shows there’s a better way | Robert Reich

These giant corporations have no particular allegiance to America. Their only responsibility is to their shareholders

Related: The gig is up: America’s booming economy is built on hollow promises | Robert Reich

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. He is also a columnist for Guardian US

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Read the original at Economics | The Guardian.