I lived in China for many years and have ongoing contact with many friends there. This guy knows what he is talking about. Excellent report on the realities there.
If and only of more american get hold of this article and video clip to understand the problem that the politician are creating for themselves a dangerous world and a dangerous US.
The writing is on the wall when Xi says that nothing can stop or allow to hinder the pace of China in seeking its progress and development for its peoples. I think it is a fair statement as everybody in this world entitles to have a decent life for its people. Isn't that what a good goverment should do? That entitlement should be extended to China.
mr Harvey, your observation of China might be generally on track and your concerns for trump's policy legit, but it's disappointing that you feel the need to stress that you are not pro-China and even that it doesn't mean that you love China or Chinese people.. it's especially sad when even intellectuals are bending their heads to the phobia.
@Ann Nil: Couldn't agree with you more. Thank your lucky stars that people of the likes of mr harvey ain't your intrusive and invasive neighbor who take such an offense of your personal well doing in life's progress just because they are jealous of your natural brilliance in your personal economic development & administrative strategies that work in self propagation. Who would have thought that intellectuals not only are bending their heads to the phobia ,,,, but that in essence they're the chief bedrock of such confounded and convoluted antagonistic hypocrisy predicated upon self bigoted zealotry. #Though-they-Appear-Wise in fact they're ....................%&*!!! Oooh, Yes you got it.
@@luismagallanes2371 well obviously.. how can you be left and cheerlead for China? It's a horrible regime. Nothing against the people of course, but for their sake, i hope the 'communist' Party goes away quickly.
It's the one and only maxim concerning freedom of expression, as so understood tacitly in the U.S.-led world, thou shall have freedom of expression only if thou smear, bash, denigrate, fabricate lies about China -- at least thou shall be "not for China."
fennegvdgvd the cause of this phobia and hatred for communism, communists, now china, has almost been lost for good. It's like in a dream u "know" (and am sooo sure about) what you know but u don't know why nor can u remember. People don't know why they hate china; all reasons given are perfectly pseudo. (If u r honest in heart, u know it's true.) Luckily there are people like professor Wolff who still remembers for all of us: ua-cam.com/video/F2NNxyxc2Ao/v-deo.html. It's a wowing report. Don't miss it.
I have similar concern about the position that US had taken against China. I think US economy is in big trouble that can explode any time. Mr Harvey political-economic analysis is brilliant.
I'm from Singapore and one thing to note about Singapore is that we don't have the population base to be labour intensive. So the government had to look for some other way to find a way to grow. We did have some labour intensive industry in our early days like hard drives, tv tubes to name a couple but even then we had to import a lot of the labour to do that. So in a sense Singapore industry was not really able to be labour intensive.
Now that China is set to be the worlds biggest market for capital will the interests of capital actually move from favoring the US to favoring China? ie what is in the best interests of the largest US companies?
China has capital flight. Why do you think Chinese millionaires are buying houses around the world with cash a lot of the time. Communist countries are never a good investment because the government takes the money. Even with laws to keep the money in China, the money finds ways out.
@@NathansHVAC again you are just saying stupid shit over and over again, this is chinese expansion and they are raising the cost of living for all of us, raising the rents. why are you people so shortsighted/brainwashed?
@Skar Scalp Except large corporations did and still do invest in China. It is the largest market in the world and everyone wants a piece of it. My question is how capital will behave now that that is the case. Does capital now care fare more about China's success than the US's and if so how will that play out. As for printing bills out of thin air, everyone does that. Where do you think bills come from if not thin air? As for their import tariffs those have been driven up by Trump in his tariff war and the effect that has is to benefit those that invest in China rather than trying to export to them (See Tesla for example).
We are all on one planet. The next order of business is to create a vision for how we live on this planet without destroying it. I doubt homo sapiens can do that.
Humans have zero chance of lasting more than a few thousand additional years. Someone will figure out how to manipulate the gravity of the Sun and make it go supernova. Then, as soon as ANTIFA gets their hand on that button, they will press it.
@@NathansHVAC Honestly I think Trump really just need more subtlity. Trump was already planning to negotiate with Russia to tackle China, but he does this before winning the election, and then proceed to fuck up everythng by declaring trade war on not just China but the entire world, Russia included, to clear suspicion. Well, if Trump was actually given the power of an emperor. Either way, Trump has simultaneously the right mind for long term planning and the attention span of a toddler.
Most I agree except China becoming an investment intensive country. For that to happen, there must be rule of law and high degree of trust. China is currently lacking in both fronts.
I watch these videos with interest, always a good analysis from David, but at the back of my mind there is a voice saying "what the f*** does any of this really matter" because I've got paperwork in front of me from very notable scientists and engineers working on behalf of the Europe forward group within the EU showing we are expecting +4 to +10oC above 1750 baseline within the next 20 to 40 years, which means we are already dead, we just don't know it yet. The planet cannot sustain another day of consumption based growth no matter the damned nation, without damage to systems needed for the sustenance of complex life, systems we have already broken beyond repair.
@@RendezvousSam Exactly, rinse and repeat. We are not the only things to disappear on this planet and will not be the last. The planet will be here as it is not going anywhere the real threat is the human to it's self.
When you talk about what the US wanted in terms of technology transfer etc with Japan and South Korea, how much was that deliberative action by the US government and how much was businesses and how much was a more disorganized trend? Was this well thought through economic policy by educated people, or was it a result of capitalist interests etc.
Communists cannot innovate because there are no financial rewards for the inventors. The smart people leave. China has no choice but to steal technology. Our leaders just accepted the bribes to look the other way. 1.5 billion to Biden, ect... The same for the Soviet union. Copying only goes so far. Sputnik was only a radio beacon. All of the telecom innovations came from private sector along with 95% of all patented inventions.
@@NathansHVAC Well either China is not communist, or you are wrong. There are financial rewards for inventors in China. As for innovations, a very large percentage of innovation globally is done by government funded universities. Sure the private sector then takes the ideas and patents them, but that only suggests there is a problem with the patent system, not that innovation is encouraged by the private sector. As for the Soviet Union, I think you would do well to learn a little bit more.
What about the tendency of the rate of profit to decrease due to introduction of new technique that displaces humans and reduces surplus value? Could this be the background that the US tries hard China to remain labour-intensive?
NBN and China fiasco summed up: Random ball player: support HK! NBN: ohhh fuck we just want to make money, we spent so much money on this platform and you had to make it political. Why cant you just leave it be. China: no soup for you!
there's more than a sense that the economy is bad. Most americans know that our economy is massively corrupt, there is a lack of jobs, jobs that pay living wages, sky high cost of college, debt, endless war, and handouts to the rich and corporations
Here is a list of Chinese inventions the West has stolen. Papermaking, the compass, gunpowder and printing (both woodblock and movable type), mechanics, hydraulics and mathematics applied to horology, metallurgy, astronomy, agriculture, engineering, music theory, craftsmanship, naval architecture and warfare, advanced metallurgic technology, including the blast furnace and cupola furnace, while the finery forge and puddling process, paper money, gunpowder, the fire lance, land mine, naval mine, hand cannon, exploding cannonballs, multistage rocket and rocket bombs with aerodynamic wings and explosive payloads, the compass and ability to steer at high sea with the 1st century sternpost rudder, water-powered clockworks, the endless power-transmitting chain drive They also made large mechanical puppet theaters driven by waterwheels and carriage wheels and wine-serving automatons driven by paddle wheel boats. The Intellectual property narrative is a weaponized political action to keep developing nations in their place.
China Taiwan boomed before 1990 because of authority rule under Chiang Ching-kuo , it has stopped developing when it started so call democratic system since 1992
Economy is not doing OK. Not because of Trump's bungling but decades of failed policy. Retailpocalypse, medical bankruptcies, diseases of despair on the rise e.g. suicide and drug abuse, stagnant wages for decades, gig economy...
I believe we have at least 20 or few decades more years too some possibility of real conflict. Until they all come up with some real bad ass technology. But we have much bigger problems before some real escalation. We became more and more dependent on technology so more and more prone to manipulation of any kind which would facilitate conflict at the end, but that time would already too late for doing something about. Before that point of no return we will witness never more market and consumerism manipulation, why, because decrease of growth in population. Capitalism or actually fosil fuels are reason for growth of population and now that doesn't work anymore. So actually problem is opposite as most think is not overpopulation but decrease growth of it. When there is no more growth there is no consumers so capitalism is stuck and will do anything to promote new kinds of consumerism with of course unprecedented manipulation of population which will lead to some changes in social structure, on people will be imposed new values marke driven of course, end people will be stuck in shelve s like commodity depending on their values for market, all political discourses will be in side this market values. Already familiar. But today is nothing compared to future technology manipulation. Why this dystopia looks so immanent. What is the root problem. Is it today's capitalism problem or just consequence of deep more complex problems within humanity. To understand this we must see fundamental sources for existence of life. Shelter and energy are most important as we all know. There is problem when there is lack of some of it. But there is also problem when energy sources are excessive, because natural life balance is being overwhelmed by it. That is in the core of today's civilisation problem. But problem is very complex. We don't control this excessive energy consumption it controls us and maks more complex problems
@@tocrob American industry has adapted. But is that adaptation sustainable? Can a nation built on consumption exist amongst nations. You cast America as a dividend less stock whose fate depends on the value other nations put on the fiat currency and the inflated value of consumption.
@@TheCommuted - as long as the confidence in the USD is stronger than others. The elites call the shots for the industries so I would not say they adapted (they call for it ) . They are clearly benefiting from the strong USD.
Wrong! Harvey looks at this in terms of economics which is not how the foreign policy establishment looks at China since security trumps economics. You simply cannot have good business and economics in insecure regions. What we have is China as a rising (local maybe global) superpower and an existing superpower that has influence around China’s borders. Rising superpowers rightfully for their security will expand around their borders and form domains of influence. However, since US power and control exists at it’s borders then China will attempt to take that power away which it should. The US will of course not let it which it should. So expect a Cold War unless China’s economic rise falters and fails. Listen to John Mearsheimer for a realist view on foreign relations.
Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy. It's inherent virtue is the equal sharing of Misery. Sir Winston Churchill. Capitalism is where everyone can Succeed. William Gibson
Stupid, shallow, rambling, anti-Marxist thinking. Why not say something meaningful. What is the political economy of China's growth? What is the role of the party and State in guiding China's economy to serve people, not capital, to reach a future of shared destiny for humankind? Better to hold your breath than spew nonsense under the guise of analysis.
23:35 - and that's the problem I have with China - and anywhere else where the constraints on how the population is used is very, very...low. The West, and especially the US, has more than its own share of predatory state and corporate behavior against the weakest of their populations. The West just has a few freedoms that the Chinese population does not share that help mitigate the abuse from time to time.
Let the Chinese worry about oppression themselves. Their history is replete with rebellions against unjust emperors and replacing them. They do not need your help, O Saviour.
Trump will not be re-elected with or without being removed from office. After last few years trump's performance, most people have bad taste in their mouths
@@dragondescendant1 I hope so. Currently 90% of Republicans polled support him. And those are just the ones that tell pollsters that! Therefore we need to get like Americans who don't vote out to vote like that
@@dragondescendant1 well it's not so much whether the rats jump it's where do they jump to next. (People don't leave platforms until there's an alternative to jump onto. what's going to be that lifeboat?)
Great video. Do you believe that we should consider China an existential threat given that their form of capitalism comes with a fairly authoritarian requirement? As seen by the NBA, Apple, etc? Do we have a responsibility to consider these factors as a society that values individual agency and freedom of thought and expression? I'm no Trump fan, but it seems as though the U.S. has tried to fight China via containment, but that doesn't seem to be working anymore. Do we fight? Resist? Cooperate?
"fairly authoritarian requirement" lol, Americans why do you sanction countries that dont follow your orders? Americans are really living on they own world, your so called freedom of expression is one of the biggest joke in the world.
Simple Ron, do foreign firm not have to follow US regulation and laws to operate in the US? As for freedom of speech goes, in the name of freedom and democracy I bitch slap you, than kick in the nuts and than puff out my chest and proclaim FREEDOM. Will you still invite me over for dinner with the wife and kids?
The arc of containment was buying Japanese products in exchange for loyalty. Japan never did corporate espionage nor did they ever disregard patents or IP. Stop making things up.
China didn't steal patents or IP. Part of the agreement companies signed decades ago was that if they wants to access the cheap workforce and industrial capacity of China, then they needed to share the technology. Nobody threatened them, nobody forced them, and they didn't steal it you idiot. And in the decades since the western businesses made enormous amounts of money from it. And they are damn hypocrites to be crying now that china has developed better technology. So do everyone a favor, and stop making things up.
@@NathansHVAC My god, you really are dumb as dogshit. I just explained how they have agreements to share technology but you jump strait to your corporate media talking points and uncritically state them as fact. Grow up you imbecile.
@@obione69 Have you actually done business in china? Have you had any IP stolen yourself? I have. I'm also an electrical engineer. Evidence is something you don't agree with, isn't it.
@@NathansHVAC Yeah, going to call bullshit on that. Unsubstantiated allegations don't sit well with me, especially from some random dickhead in UA-cam comments. And fyi, you presented no evidence you dumb fuck If you had actually watched the videos by Professor Richard Wolff you would have seen what i said was true. But i guess you prefer to spread propaganda instead. How does it feel to be a bootlicker for the corporate elite in America.
I lived in China for many years and have ongoing contact with many friends there. This guy knows what he is talking about. Excellent report on the realities there.
If and only of more american get hold of this article and video clip to understand the problem that the politician are creating for themselves a dangerous world and a dangerous US.
The writing is on the wall when Xi says that nothing can stop or allow to hinder the pace of China in seeking its progress and development for its peoples.
I think it is a fair statement as everybody in this world entitles to have a decent life for its people. Isn't that what a good goverment should do?
That entitlement should be extended to China.
Thanks for being someone who actually understands macro-economics. Imagine if this was the level of debate in Morning Joe or something...
This episode is a treasure chest of valuable information. Thanks!
this is an absolutely fantastic perspective on china that i haven't seen anywhere else. thank you very much!
Then you should check out Professor wolff: ua-cam.com/video/xfPEfn_7_Pg/v-deo.html
@@ashleymistletoe We are on his channel. His last vid is partly on china.
I think we're good with Wolff.
I love China.
I also am an anti capitalist of sorts
What are you for? if you don't mind me asking?
Get RekT - Yang is a capitalist
Meaning you are a loser, right?
How to get reelected, make voters afried of it and tell them who to blame.
An excellent dialectic as usual from prof. Harvey.
imagine dunking on college activist rather than actually listening to the real academic argument like this
Good work!
great talk
How can an economy be OK if you have millions of homeless and millions without healthcare?
mr Harvey, your observation of China might be generally on track and your concerns for trump's policy legit, but it's disappointing that you feel the need to stress that you are not pro-China and even that it doesn't mean that you love China or Chinese people.. it's especially sad when even intellectuals are bending their heads to the phobia.
@Ann Nil:
Couldn't agree with you more. Thank your lucky stars that people of the likes of mr harvey ain't your intrusive and invasive neighbor who take such an offense of your personal well doing in life's progress just because they are jealous of your natural brilliance in your personal economic development & administrative strategies that work in self propagation.
Who would have thought that intellectuals not only are bending their heads to the phobia ,,,, but that in essence they're the chief bedrock of such confounded and convoluted antagonistic hypocrisy predicated upon self bigoted zealotry.
#Though-they-Appear-Wise in fact they're ....................%&*!!!
Oooh, Yes you got it.
We are living in the age where even the left would criticize him for being very pro china. Now imagine everyone else's reaction.
@@luismagallanes2371 well obviously.. how can you be left and cheerlead for China? It's a horrible regime. Nothing against the people of course, but for their sake, i hope the 'communist' Party goes away quickly.
It's the one and only maxim concerning freedom of expression, as so understood tacitly in the U.S.-led world, thou shall have freedom of expression only if thou smear, bash, denigrate, fabricate lies about China -- at least thou shall be "not for China."
fennegvdgvd the cause of this phobia and hatred for communism, communists, now china, has almost been lost for good. It's like in a dream u "know" (and am sooo sure about) what you know but u don't know why nor can u remember. People don't know why they hate china; all reasons given are perfectly pseudo. (If u r honest in heart, u know it's true.) Luckily there are people like professor Wolff who still remembers for all of us: ua-cam.com/video/F2NNxyxc2Ao/v-deo.html. It's a wowing report. Don't miss it.
I have similar concern about the position that US had taken against China. I think US economy is in big trouble that can explode any time. Mr Harvey political-economic analysis is brilliant.
So clearly explained.!
I'm from Singapore and one thing to note about Singapore is that we don't have the population base to be labour intensive. So the government had to look for some other way to find a way to grow. We did have some labour intensive industry in our early days like hard drives, tv tubes to name a couple but even then we had to import a lot of the labour to do that. So in a sense Singapore industry was not really able to be labour intensive.
Now that China is set to be the worlds biggest market for capital will the interests of capital actually move from favoring the US to favoring China? ie what is in the best interests of the largest US companies?
China has capital flight. Why do you think Chinese millionaires are buying houses around the world with cash a lot of the time. Communist countries are never a good investment because the government takes the money. Even with laws to keep the money in China, the money finds ways out.
It has already moved away. Check the top 10 banks in the world by capital size.
@@NathansHVAC again you are just saying stupid shit over and over again, this is chinese expansion and they are raising the cost of living for all of us, raising the rents. why are you people so shortsighted/brainwashed?
@david chan you just explained the rise of populism around the world.
@Skar Scalp Except large corporations did and still do invest in China. It is the largest market in the world and everyone wants a piece of it. My question is how capital will behave now that that is the case. Does capital now care fare more about China's success than the US's and if so how will that play out. As for printing bills out of thin air, everyone does that. Where do you think bills come from if not thin air? As for their import tariffs those have been driven up by Trump in his tariff war and the effect that has is to benefit those that invest in China rather than trying to export to them (See Tesla for example).
7:00 Exactly what I thought!
Next week: Trump's Attack on Traitorous US Corporations
We are all on one planet. The next order of business is to create a vision for how we live on this planet without destroying it. I doubt homo sapiens can do that.
Humans have zero chance of lasting more than a few thousand additional years. Someone will figure out how to manipulate the gravity of the Sun and make it go supernova. Then, as soon as ANTIFA gets their hand on that button, they will press it.
@tiglath pileser but we will all die from mild Winters
David Harvey points out the facts. Our politicians take the easy route; blame other.
Trump is no politician; an Emperor rather; whoever talks back to the Emperor is a third or forth rate politician ! LOL
All hail Lord Trump, savior of America.
You still believe what chuck and Nancy say? Where is that impeachment vote? Where is that russian, I mean Ukraine evidence.
@@NathansHVAC Honestly I think Trump really just need more subtlity. Trump was already planning to negotiate with Russia to tackle China, but he does this before winning the election, and then proceed to fuck up everythng by declaring trade war on not just China but the entire world, Russia included, to clear suspicion. Well, if Trump was actually given the power of an emperor. Either way, Trump has simultaneously the right mind for long term planning and the attention span of a toddler.
@@KS-wy6ky He is keeping every single campaign promise even with great resistance. That is what men do.
a thoroughbred apprentice and a phoney marketing charlatan... certainly not a potus material.
Most I agree except China becoming an investment intensive country. For that to happen, there must be rule of law and high degree of trust. China is currently lacking in both fronts.
Hope Gordon chang is listening.
I watch these videos with interest, always a good analysis from David, but at the back of my mind there is a voice saying "what the f*** does any of this really matter" because I've got paperwork in front of me from very notable scientists and engineers working on behalf of the Europe forward group within the EU showing we are expecting +4 to +10oC above 1750 baseline within the next 20 to 40 years, which means we are already dead, we just don't know it yet.
The planet cannot sustain another day of consumption based growth no matter the damned nation, without damage to systems needed for the sustenance of complex life, systems we have already broken beyond repair.
The humans have no given rights to occupy Earth for the eternity, one species become extinct another will supersede it's place, nature's evolution.
@@RendezvousSam Exactly, rinse and repeat. We are not the only things to disappear on this planet and will not be the last. The planet will be here as it is not going anywhere the real threat is the human to it's self.
When you talk about what the US wanted in terms of technology transfer etc with Japan and South Korea, how much was that deliberative action by the US government and how much was businesses and how much was a more disorganized trend? Was this well thought through economic policy by educated people, or was it a result of capitalist interests etc.
Communists cannot innovate because there are no financial rewards for the inventors. The smart people leave. China has no choice but to steal technology. Our leaders just accepted the bribes to look the other way. 1.5 billion to Biden, ect... The same for the Soviet union. Copying only goes so far. Sputnik was only a radio beacon. All of the telecom innovations came from private sector along with 95% of all patented inventions.
NathansHVAC what are you smoking? Just go to China for a visit. And when you come back home you’ll see how backward the US has become.
Timothy Whitehead search Kissinger, he designed all these.
@@francoisehembert3243 Public Works projects are not innovation. Innovation changes the world for the better.
@@NathansHVAC Well either China is not communist, or you are wrong. There are financial rewards for inventors in China. As for innovations, a very large percentage of innovation globally is done by government funded universities. Sure the private sector then takes the ideas and patents them, but that only suggests there is a problem with the patent system, not that innovation is encouraged by the private sector. As for the Soviet Union, I think you would do well to learn a little bit more.
What about the tendency of the rate of profit to decrease due to introduction of new technique that displaces humans and reduces surplus value? Could this be the background that the US tries hard China to remain labour-intensive?
china #1
Taiwan #1 !
America #1. Freedom #1
Sounds like they're going down the same trajectory as we are which is, tragic.
History always finds a way of repeating itself over and over gain.
this channel is fantastic...thanks!!
Gran aporte
NBN and China fiasco summed up:
Random ball player: support HK!
NBN: ohhh fuck we just want to make money, we spent so much money on this platform and you had to make it political. Why cant you just leave it be.
China: no soup for you!
there's more than a sense that the economy is bad. Most americans know that our economy is massively corrupt, there is a lack of jobs, jobs that pay living wages, sky high cost of college, debt, endless war, and handouts to the rich and corporations
also lived in China. They've passed us economically, we're on the way down fast
7:08 And this has been proven true!!!
Here is a list of Chinese inventions the West has stolen. Papermaking, the compass, gunpowder and printing (both woodblock and movable type), mechanics, hydraulics and mathematics applied to horology, metallurgy, astronomy, agriculture, engineering, music theory, craftsmanship, naval architecture and warfare, advanced metallurgic technology, including the blast furnace and cupola furnace, while the finery forge and puddling process, paper money, gunpowder, the fire lance, land mine, naval mine, hand cannon, exploding cannonballs, multistage rocket and rocket bombs with aerodynamic wings and explosive payloads, the compass and ability to steer at high sea with the 1st century sternpost rudder, water-powered clockworks, the endless power-transmitting chain drive They also made large mechanical puppet theaters driven by waterwheels and carriage wheels and wine-serving automatons driven by paddle wheel boats.
The Intellectual property narrative is a weaponized political action to keep developing nations in their place.
is that true? That you have to pay for education in China? Health and education are no free of cost?
China Taiwan boomed before 1990 because of authority rule under Chiang Ching-kuo , it has stopped developing when it started so call democratic system since 1992
Now its Biden's turn.
Always luv your talks Dr. Harvey. Always so informative. Also, could you slap Trump around a little?
Economy is not doing OK. Not because of Trump's bungling but decades of failed policy. Retailpocalypse, medical bankruptcies, diseases of despair on the rise e.g. suicide and drug abuse, stagnant wages for decades, gig economy...
That never stops political opponents from attaching blame.
I believe we have at least 20 or few decades more years too some possibility of real conflict. Until they all come up with some real bad ass technology. But we have much bigger problems before some real escalation. We became more and more dependent on technology so more and more prone to manipulation of any kind which would facilitate conflict at the end, but that time would already too late for doing something about. Before that point of no return we will witness never more market and consumerism manipulation, why, because decrease of growth in population. Capitalism or actually fosil fuels are reason for growth of population and now that doesn't work anymore. So actually problem is opposite as most think is not overpopulation but decrease growth of it. When there is no more growth there is no consumers so capitalism is stuck and will do anything to promote new kinds of consumerism with of course unprecedented manipulation of population which will lead to some changes in social structure, on people will be imposed new values marke driven of course, end people will be stuck in shelve s like commodity depending on their values for market, all political discourses will be in side this market values. Already familiar. But today is nothing compared to future technology manipulation. Why this dystopia looks so immanent. What is the root problem. Is it today's capitalism problem or just consequence of deep more complex problems within humanity. To understand this we must see fundamental sources for existence of life. Shelter and energy are most important as we all know. There is problem when there is lack of some of it. But there is also problem when energy sources are excessive, because natural life balance is being overwhelmed by it. That is in the core of today's civilisation problem. But problem is very complex. We don't control this excessive energy consumption it controls us and maks more complex problems
Wouldn't cutting interest rates weaken the dollar which would support exports and domestic production?
Not with everybody's cutting interest rates faster than the US
majority of the American industries are benefiting from the strong USD.
@@tocrob American industry has adapted. But is that adaptation sustainable? Can a nation built on consumption exist amongst nations. You cast America as a dividend less stock whose fate depends on the value other nations put on the fiat currency and the inflated value of consumption.
@@TheCommuted - as long as the confidence in the USD is stronger than others. The elites call the shots for the industries so I would not say they adapted (they call for it ) . They are clearly benefiting from the strong USD.
💞💞💞.
The economy is doing ok for 300 ppl in the world. The rest are paying the price.
American economy doing well?!! What has this guy been smoking?
technically likely is. He just didn't say for whom.
@@tocrob
Very true indeed. The 1% get to enjoy the free money pumped into the stock market solely for them. The 99% can rot!
Yo this is finna woke
Wrong! Harvey looks at this in terms of economics which is not how the foreign policy establishment looks at China since security trumps economics. You simply cannot have good business and economics in insecure regions. What we have is China as a rising (local maybe global) superpower and an existing superpower that has influence around China’s borders. Rising superpowers rightfully for their security will expand around their borders and form domains of influence. However, since US power and control exists at it’s borders then China will attempt to take that power away which it should. The US will of course not let it which it should. So expect a Cold War unless China’s economic rise falters and fails. Listen to John Mearsheimer for a realist view on foreign relations.
Socialism is the
philosophy of
failure,
the creed of
ignorance,
and the gospel of
envy.
It's inherent virtue is the
equal sharing of
Misery.
Sir Winston Churchill.
Capitalism is where everyone can
Succeed.
William Gibson
Where in stands India ?
Next in line for a boom, followed by a bust?
3:15 (paraphrasing) "Companies aren't spending their money. They're buying back their own stock." Which one is it?
Can't you read in between the lines?
Pavel S, both.
Stupid, shallow, rambling, anti-Marxist thinking. Why not say something meaningful. What is the political economy of China's growth? What is the role of the party and State in guiding China's economy to serve people, not capital, to reach a future of shared destiny for humankind? Better to hold your breath than spew nonsense under the guise of analysis.
23:35 - and that's the problem I have with China - and anywhere else where the constraints on how the population is used is very, very...low. The West, and especially the US, has more than its own share of predatory state and corporate behavior against the weakest of their populations. The West just has a few freedoms that the Chinese population does not share that help mitigate the abuse from time to time.
Let the Chinese worry about oppression themselves. Their history is replete with rebellions against unjust emperors and replacing them. They do not need your help, O Saviour.
@@keffinsgYou needed to be a dick there at the end, huh? Way to be a person!
Trump can actually still run for reelection even if he's removed from office.
Trump will not be re-elected with or without being removed from office. After last few years trump's performance, most people have bad taste in their mouths
@@dragondescendant1 I hope so. Currently 90% of Republicans polled support him. And those are just the ones that tell pollsters that! Therefore we need to get like Americans who don't vote out to vote like that
@@eve36368 rats will flee from sinking ship, it happened to Nixon.
@@dragondescendant1 well it's not so much whether the rats jump it's where do they jump to next. (People don't leave platforms until there's an alternative to jump onto. what's going to be that lifeboat?)
Great video. Do you believe that we should consider China an existential threat given that their form of capitalism comes with a fairly authoritarian requirement? As seen by the NBA, Apple, etc? Do we have a responsibility to consider these factors as a society that values individual agency and freedom of thought and expression? I'm no Trump fan, but it seems as though the U.S. has tried to fight China via containment, but that doesn't seem to be working anymore. Do we fight? Resist? Cooperate?
"fairly authoritarian requirement" lol, Americans why do you sanction countries that dont follow your orders? Americans are really living on they own world, your so called freedom of expression is one of the biggest joke in the world.
Ron Rivers We don't need to do anything cause all that are their issues! It belong to China, and let the Chinese people deal with it!
Simple Ron, do foreign firm not have to follow US regulation and laws to operate in the US? As for freedom of speech goes, in the name of freedom and democracy I bitch slap you, than kick in the nuts and than puff out my chest and proclaim FREEDOM. Will you still invite me over for dinner with the wife and kids?
The arc of containment was buying Japanese products in exchange for loyalty. Japan never did corporate espionage nor did they ever disregard patents or IP. Stop making things up.
China didn't steal patents or IP. Part of the agreement companies signed decades ago was that if they wants to access the cheap workforce and industrial capacity of China, then they needed to share the technology.
Nobody threatened them, nobody forced them, and they didn't steal it you idiot. And in the decades since the western businesses made enormous amounts of money from it. And they are damn hypocrites to be crying now that china has developed better technology.
So do everyone a favor, and stop making things up.
@@obione69 They steal $360 billion a year in IP. There are tons of news articles on this.
@@NathansHVAC
My god, you really are dumb as dogshit. I just explained how they have agreements to share technology but you jump strait to your corporate media talking points and uncritically state them as fact.
Grow up you imbecile.
@@obione69 Have you actually done business in china? Have you had any IP stolen yourself? I have. I'm also an electrical engineer. Evidence is something you don't agree with, isn't it.
@@NathansHVAC
Yeah, going to call bullshit on that. Unsubstantiated allegations don't sit well with me, especially from some random dickhead in UA-cam comments. And fyi, you presented no evidence you dumb fuck
If you had actually watched the videos by Professor Richard Wolff you would have seen what i said was true. But i guess you prefer to spread propaganda instead.
How does it feel to be a bootlicker for the corporate elite in America.