...American and Western elites had facilitated China’s ascendance through political negligence, said Bannon. Decades-old predictions of China’s integration into the global economy cultivating political liberalization in the communist state, he added, had not come to pass.
Chinese mercantilism and central planning, said Bannon, had been reinforced over time as a function of Western elites’ openness to China’s joining of post-WWII Bretton Woods international economic system – contrary to the aforementioned predictions from “geniuses” of inevitable democratization in the communist state...
"Geniuses" which included Tricky Dick Nixon and Henry Kissinger, by the way. And of course, the US-based profiteer-enablers such as the "Big Three" of Detroit and a variety of aerospace/electronics/weapons manufacturers. Think of the technical giveaways of the Clinton regime.
Quoting Bannon's speech directly:
...China has become more and more wealthy, and yet it has become more of a mercantilist authoritative system. Their business model is total rejection of free market capitalism. Their business model is a total rejection of the international rules-based order that American taxpayers underwrite with their dollars, and the young people in America – the working class young people in America – underwrite with their blood....What China needs is a populist revolution, but they don't have the Second Amendment.
We'll see how this shakes out. Trump's revolution is only beginning.