Why did he do it

Nation building, they thought they could trick China into taking bad loans once it got off the ground.

>>18403007
Do what? Move manufacturing to a county with a workforce of over a billion people and a heavily devalued currency to enable domestic economic growth unhindered by the need to remain competitive on a race-to-the-bottom export market? Let's face it anon, China manufacturing everything for the west was the best case scenario for everyone involved.

>>18403995
On the economical short term it's been great but it has also helped China tremendously in its effort to industrialize and modernize. If you consider that the US gets a substantial economical advantage from just existing as the world hegemon, you can see how helping your main rival in competing with you might not have been the best idea on the long term, even if we just stick to economics.

>>18403995
>enable domestic economic growth unhindered by the need to remain competitive on a race-to-the-bottom export market
i.e embrace the fake economy. Line go up I guess

>>18403007
the science of economics had proved that this must happen

The US was already deindustrializing even before the 90s. If not China, the factories would have moved to Mexico, Vietnam, the Phillipines or any other country with lower wages and high working age population.

>>18404164
Factories already moved to Mexico because of NAFTA