China is in a heap of economic trouble, says Michelle Caruso-Cabrera
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- Опубликовано: 15 сен 2024
- CNBC contributor Michelle Caruso-Cabrera joins 'Squawk Box' to discuss China's economic crisis, as the country grapples with a mounting debt crisis and investors ramp up calls for fiscal stimulus to boost the economy, what comes next, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Caruso-Cabrera gives the best, and shortest, explanation of China's debt issue I've heard. Thanks.
pretty decent...but some errors in there. According to her 800M have been pulled out of poverty, with 800M more to go. That's 1.6B of a 1.3B population...but it's live so people make mistakes. That 800M being pulled out of poverty is based on a pretty low bar as I understand it, with most having an income of less that US$600/month.
the other 2 hosts are definitely a joke. China's limitations as well as their downstream consequences have been known for months, years even, albeit not discussed truthfully, nor deeply, in the least by a majority of the CNBC hosts to include Jim Cramer. it's much worse on Bloomberg. they sound like clowns with rosy colored glasses to me these days, but I enjoy watching for the laugh I get out of that.
Script given to her by her puppet masters. 😂⚠️🇺🇸⚠️😂 The recession has been here since 1971!
$34 trillion govt deficit
$32 trillion business debt
$19 trillion household debt.
GDP $22 trillion... if that's even real. Realistic might be $17 and declining.
Mass homeless, poor education and Healthcare, poor infrastructure. PEOPLE working 2-3 jobs. EVERYTHING IS based on Debt! Homes unaffordable. Renting is unaffordable. Buying a vehicle is unaffordable. Grocery is unaffordable. Keep printing more fiat dollars. I need more toilet paper dollars.
Govt economic data is FAKE! TO SUPPORT A PONZI ECONOMY AND FIAT DOLLAR. HELPED BY THE govt Media!
Who else have you been listening to ?she is neither a economist or financial analyst
@@parttimephilosopher7097 --- you need to hear more than just the American narrative.
Joe, let your guest talk! That’s why she’s in the show!
At home I bet the missus never lets him get a word in edge-wise. LOL.
Right now, things appear odd. The US dollar is becoming less valuable due to inflation, but it is becoming more valuable when compared to other currencies and commodities such as gold and real estate. People are flocking to the dollar because they believe it is more secure. I'm concerned that rising inflation may cause my $420,000 in retirement savings to devalue. We don't have any other places to deposit our money.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please who’s this advisor that guides you?
"Salvatore Fortunato Sofia" is the Consultant that oversees my portfolio. I just copy her moves 😊 She's been able to gain some reputation and online recognition with over 3 decades in service, so it shouldn't be a hassle to find basic info.
How can USD be 'less valuable' and yet be more valuable than gold at the same time??? Thats a contradiction meaning gold is becoming worthless overnight. Your statement is not true as of speaking. Properties is still king and the safest place to store wealth today, because even if everyone becomes bankrupt, everyone still needs a place to live and sleep in.
@@supertuesday600 If you can't tell, it's a thread of shrills trying to push for a certain "consultant". The comment was never meant to make sense.
Bringing people out of poverty through borrowing is like peeing in your pants to stay warm on a frosty day.
And yet that is how ”we” do it all around the globe even down to local levels.
@@sunaglarecrim For examples in G7 countries???
@@dnguyen787 yes, globally in every country, that is my point. Globoponzi.
That’s the logic behind student loans too!
The US has a huge debt problem.
@healthiswealth6797 the US has a public debt problem. China has more of a private debt problem. Both a bad but China doesn't hold the world's reserve currency. So, overall China is in hot water.
and we have a fed raising and maintaining rates in order for us to deal with it. what they ought to do next is enforce taxes on the Microsoft and Amazon's of the world by cutting and targeting the loopholes and tax havens these companies enjoy the most, while spurring activity in critical sectors of our economy such as nuclear energy, semiconductor and quantum computing, infrastructure modernization to include water security and ecological restoration projects which we can afford to do. that is if dumdums like Joe dont start crying "socialism" whenever the companies in his portfolio see an increase in tax costs due to loophole closures.
I'd still be more worried about China as we know the CCP has a history of dangerously thrashing about when in the middle of a big bind and that tends to generate problems for its neighbors.
😂⚠️🇺🇸⚠️😂 The recession has been here since 1971!
$34 trillion govt deficit
$32 trillion business debt
$19 trillion household debt.
GDP $22 trillion... if that's even real. Realistic might be $17 and declining.
Mass homeless, poor education and Healthcare, poor infrastructure. PEOPLE working 2-3 jobs. EVERYTHING IS based on Debt! Homes unaffordable. Renting is unaffordable. Buying a vehicle is unaffordable. Grocery is unaffordable. Keep printing more fiat dollars. I need more toilet paper dollars.
Govt economic data is FAKE! TO SUPPORT A PONZI ECONOMY AND FIAT DOLLAR. HELPED BY THE govt Media!
@JackSmith-mk1ru In a global economy, China's debt problem is the world's problem, too
@JackSmith-mk1ru that is yet to be seen. The effect will be global, most likely.
They have all these problems. What's worse is that they have no real plan to fix it. There is no feedback going to the top, and no plan to deal with it.
A viable plan to fix China's economic mess would be like trying to un-ring a bell or turn back time. That's why there's no plan.
If this is true, then the US doesn't need to focus on China anymore. They can finally leave China alone.
Because the US Secretary of Commerce came to China to beg China again and then these media outlets started to play up the Chinese economy. Hahaha+
Your funny
You don't get it. US media is helping Xi keep his head above water. The situation is much worse.
@@lochnessmonster5149 you said US media lol I don't know if it's a typo. most if not all US media have been Anti-China for the longest and this isn't the first time that the US media has talked about how bad China's economy is and how it will collapse soon or later.
if only China left the world alone.
I don't understand. Squawk Box brings in an expert (or certainly a dedicated subject researcher) to provide the results of her research, expertise, insights, and conclusions or prognostications and the Squawk Box keep squawking over her, not letting her contribute to the discussion. I want to hear what she has to say, not the squawking that kept hearing.
Peter Drucker predicted the collapse of the USSR and China in his 1986 book. He was off by two years on the USSR- “China gets old before it gets rich”. Drucker isn’t popular in B-School anymore but his insights were and are amazing.
USA: *drug problems, huge social divide, economic issues*
Americans: ChYnAaAAaA!!1!1!!
🤔
Stay on topic. Not every story is about the US.
@@panoptijohn Those who live in glass houses shouldn't throw stones. Get a grip.
For a country that’s been collapsing for the last 30 years. It’s doing pretty good. I hope our economy takes 30 years to collapse, by then, I’ll be dead.
@user- don't vanish so soon. like you to witness what other's forecasting are hokum!!
add oil...
I never got the feeling that any of these people actually know what the hell they are talking about.
Dude need to listen and ask questions.
When talking about China debt, I think about U.S Fed debt, U.S bank debt, U.S consumer debt, U.S companies debt
whataboutism
@@bullpup1337 - too jaded to elucidate, you regard it as ?
@@ngkeam9491 Can you say that again in clear english?
that was a great, interesting segment.
This is a very good and basic outlook
Everyone is talking about China debt. Nobody seems to be concerned with US debt at 33T.
Exactly
China has a much smaller economy and much larger debt.
@@buildmotosykletist1987 ---- ho, ho, ho --- you need to do some serious research.
@@KayyHong : It's an easy search.
@@buildmotosykletist1987 --- and you failed miserably
All these guys know little about China and use the western experience to predict China, of course, they end in wrong conclusions
yeah people living in China know that its actually way worse, watch china show
Japan went into decline because they were pressured to sign the Plaza Accord in 1985 and the next 30 years the Japanese economy didn't grow while the US economy grew by 1,000%, yes its not a typo error
That's def a typo, if not an "alternative fact". While it's undeniable the American economy performed much better, those numbers are just made up.
The US grew by about 320%, while Japan did by about 240%.
GDP (1985): 4.3 (US) vs. 1.3 trillion (Japan)
GDP (2015): 18.2 (US) vs. 4.4 trillion (Japan)
Caruso-Cabrera, after I checked her EV. She was and still is just a political actress, she was just into whatever current political hights to attract attention. She is out of her depth to discuss China's issue. You could not discuss debt without discussing savings, Chinese hights saving rates and the Chinese banks are swimming in money that they could not lend out. China is lowing interest rates. On this side of the pond, the US is begging China to buy treasures and raising rates.
I'll say this: It's true the savings rate is high in China right now, but there's a reason why China has stopped publishing youth employment rate (over +20%) after this past July. When you have an aging population, with a slow birth rate and the Gen-Z population not being as productive as they can be, those savings will eventually be depleted through attrition.
One might argue that China is decreasing rates so the younger generation can have the opportunity to borrow more (and grow the economy that way), but as you've stated, this goes against the savings culture in general. It remains to be seen if that cohort is willing to take risks or not
Cabrera is simply reading a script from the U.S. government. More attention should be paid to America's fast growing debt and yearly deficit. It is well known that the U.S. will be unable to finance its debt shortly --- the money printing press is not the solution.
@@1fanabanana --- with robotics, 5G & AI enabled smart manufacturing, automation and other advanced technologies will produce a lot more with far fewer workers. Westerners seem to be more concerned about China's well being than their own. China is doing just fine, you need not worry for us.
@YoDaddi Unfortunately the CCP's actions are hurting there own economy. No companies want to invest there the goverment can't be trusted.
@Tim- Chin intends to dump US bonds, US is in hot water in reality.
she rants for her self-aggrandizement! showcasing her expertise, and to please her fans!!
I will not shed a tear...
I would if WW3 starts because of it. Already two groups are forming.
Your tear means nothing. Save it
Save your tears for the coming collapse of the world's hegemon.
BRI could have being magnificent, but China became Arrogant and Brutish. Border Disputes with all 14 of its Neighbors and Debt Trapping 97 Nations. Victor Gao boasted on Arnab's program, that China is committed to keeping Pakistan in its current state of Splendor and Magnificence. Which reflects everything wrong with the CCP Mentality. Not satisfied with being Number 2 Superpower it wants to become God.......................!
As long as Americans are happy with these BS news and sleep better......we're OK with it.
2023.. America Growth 1.6.%..China 4.6%. So ! What are the problems. American firms leave China, see what will happen.
I smell huge bias during this clip.
Canada, Germany, UK, Japan, SK are in whole heap of trouble too . Watch US poverty rate jump to 14 % from 7 % Worse is yet to come in the US as credit markets implode
I am sure she is intelligent and has a big degree. The problem is when you are biased, you choose to see what you want to see rather than what is there.
That’s true; the actual situation and time-bomb the PRC is sitting on is possibly even WORSE than she is willing to say on live television…
What are you even talking about, she stated facts about the GDP to debt 😂
Facts like Iraq has weapons of mass destruction and America does not torture and then we know the facts at Abu Ghraib and Guantanamo.
These are facts . China is done .
@chia- dubious she has any profound and comprehensive understanding of China's economies, she opts to delight her crowds and CNBC undoubtedly.
Michelle focus on your $65 trillions of US unfunded liabilities debts Medicare, US pensions , Social security and unfounded corporate pensions funds and US financial weapons of mass self destruction
If that guy would just be quiet and let her talk this would have been a good video.
Let's talk about the USA debt .. let's address that first
@cjs- banned from commenting-lah!
There are a lot of deep economic problems in the horizon but listening to these clueless talking pundits is like watching the blind leading the blind 🤦♂️
This guy is pretty condescending.
Michelle so what about US debts crises ?
the money printing press keeps working overtime
Just keep your eye on how japans deals with their debt because the other countries will probably deal with it the same way. Getting pension funds to buy government debt is one way, stealing old peoples money basically.
Who was telling companies to get out of China and come back home?
This is extremely bad news for the world. When there is economy issues is when wars starts. WW2 partly started because of the Germany economy issues. If there is a WW3 then the world might not make it this time. 😨
Fear the same
Fortunately China is way behind US on Tech and weapons
@YaYa-zp6vb Numbers in a lot of ways can still beats tech. Some of the advanced US missiles are like 100k. China has over a billion people. Don't forget US lost to the Tabilan in Afghanistan.
I wouldn’t look to Germany for the model… their economy was bad due to hits from losing WW1, which were further compounded by the Great Depression.
@@ABanRocks So you are saying the USA could invade China and occupy it for 20 years, then leave? Thats how the USA lost to the Taliban.
is Joe on meds?
She's good
MCC is back. Great to see you.
When CNBC delivers a bad news about China, it is time to invest in Chinese stocks. Come back to this in a month and see for yourself. Buy some KWEB
facts chinese loans rend to higher interest and shorter term periods... and if they are not paid back, they seize infrastructure.
Yep, China tech about to moon
invest in china? do you know what communism is?
@@bullpup1337 China is not communist. It has a community party with and capitalistic economy. Deng Xiaoping reforms are clearly anti-socialist. But you are right you must be careful when investing in foreign stocks because they can be manipulated and you won't be protected by the SEC.
@@guts7518 xixinping is a fan of mao and a true communist. The capitalism you speak of is being dismantled as we speak.
China is in trouble, but US envoys travel there, one after the next, to bend a knee. 😂😂😂
@johnny- all dignitaries like genuflection, its a fabulous exercises to them?
add oil!
Usa has a debt problem. Any one who makes under 60,000 USD should not have federal taxes and let congress get from people making 150,000 USD should pay more stimulus would be Great long term growth
hahaha you discuss china economic problems. china used to be a poor nation, and you go on nd on about its little troubles. but not about usa homelessness, people in the streets of LA and sn francisco. you even mention bout chinas debt but not usa 33trillion debt and the over printing of the dollar and usa budget deficit. there is a coming hyper inflation for the usa because the federal reserve keeps on printing the dollar
CNBC has ignored the seriousness of this issue because they need retail money to go all in so their buddies can cash out and make bank.
Who is this Michelle? How long has she lived in China, can she read Chinese?
Too much talking over each other, I'm done with this channel after one try.
While everyone is gloating over China's woes, they still control major ports around the world, and massive resources around the world. Do not underestimate them. There are a billion people willing to work harder than us.
@ppump- unalike US, we are not hegemonic.....we are peaceful folks!!
Who's the old guy who doesn't know anything but doesn't shut up?
Would have been nice to know this when everyone on this channel was talking China reopening trade !
All we heard for past 8 months is China reopening, China reopening, China reopening as the catalyst to push the ordinary investor to buy into this narrative to propel the markets higher. Now we hear, oh by the way, China is going bankrupt. Only people making money is Wall St.
So . . . they have no Money or Women ? What could possibility go wrong ?
Little export demand clearly shows the world is decoupling rapidly due to economic coercion tactics. Secondly they employed supply side support during the pandemic whereby developed economies supported the demand side in their economies. Over production in housing and infrastructure - that’s appears to be part the difference. Secondly, BHP and other Australian based commodities supply firms will find other markets in the medium to long term. e.g. the double ‘II’ India and Indonesia.
BHP has the commodities the world needs without china doing the value add in the middle.
export demand isn’t causing this problem.😂 China has a leadership and corruption problem. China’s economy’s primary driver us real estate. Real Estate is connected to too many mechanisms in their economy. The second issue is their leaders disdain for consumerism; it is to the point of hatred and phobia. These two things are the primary issues. China’s downfall is cultural. just like Japan…
Damn, that interviewer loves to listen to himself right? He interrupts like hell and the interviewee was like, Fk, let me talk.
He has been on that network for 40 years, I used to watch him in the 80s. The show is a weird format though, it is supposed to be a discussion, the woman treated it like she was giving a report, she really should have been pausing more after making a solid statement and letting the others chime in
This conversation is a distraction from what's gonna happen in US markets.Smoke screen for masses
Please report the problems here in the US !!!
you forgot to say “what about…”
Fake news
China's entire economy and growth was based on Record Levels of debt, their debt driven economy will not recover in my lifetime. Their debt levels are mind numbing, couple that with their Democratics and it all points to China is finished as an economic power. India, Vietnam Mexico are where investors should pivot. Only those in denial would stay invested in China.
she mad broooooo, he made her mad LOL!
Sounds just like the US.
67% of Americans live from pay check to pay check. 57% of U.S. adults unable to afford a $1000 emergency expense. In the 1st. quarter of 2023, 69% of America's wealth was owned by the top 10%. In comparison, the lowest 50% owned 2.4% of the total wealth. Do your own research. These are cold hard facts rarely mentioned in the U.S. media too busy bad mouthing China --- China, China, China, China this bad, China that bad, China genocide, China slave labor, China spying, China stealing, China aggression, China's debt trap and, meanwhile America is just an innocent babe in the woods playing with his toys
800 million? Becky is on here uncritically spouting CCP talking points.
Oh China now have a debt problem. How about the USA?
Where you been Becky
wish she just retire...she has no opinions just reads. Mellissa lee or Kelly a breath of fresh air last week.
Buffet likes her. That’s all that matters
We are heading for an economical crisis of biblical epical proportions !!!!
We need to put term limits on all those rich men north of Richmond .
It is nature after 2 year lock down. Economy has cycles. It just reached the cycle low. Things will be better later. Don't lock down next time!
So-called experts didn't see it coming😂👏Now that's funny
Aukus is to help Australia?Wow! What a thought!!!
So called experts at it again.
the host guy should be playing golf, not interviewing smart people
dont delete, ill get them all.
Someone tell them BRICS going to propel dedollarisation.
lol Brics…. the name gives you a clue where those guys are going
Russia has stopped taking the Indian rupee for oil as it doesnt know what to do with it.
The brunette needs to lead the conversation. She’s the only one who knows what they’re talking about.
Country that takes pride in building things not just "software" will never go down! no matter what these talking heads think.
@madar- all these talking heads are fake pundits!! for sure.
Am I the only one that feel this conversation is kinda biased?
let the guest speak
Ha ha ha ha ha ha ha! HA HA HA HA HAAAAA. 😂😂😂😂😂
China would have far fewer problems if it didn't get into RBI. Occupying other countries, had a direct effect
on foreign trade on which China's economy is dependent. That created a lack of "Trust and credibility" in China.
The rest is all downhill. Slow death.
@incas- yes , holding some garbled perspective of BRI, in any event, you are calling mule a horse, for certainty!
Why wouldn't China just wipe out ALL the debt and investor equity, just reset, the country will continue as is without any debt burden, trade will restart because it is in everyone's interest. Money is imaginary.
lol yeah in communism you can do that. But then the economy immediately collapses, so good luck starting from scratch after that. Great leap forward 2.0?
I can bring myself out of poverty by maxing out on my credit card, then what, I don’t have to pay it back when the bill comes?
@sky- wait then to enjoy in Purgatory!
The floods will make the population spend money locally.
MCC you replacing Sorkin? Hope so
The Whole World is awash with DEBT and IOUs.
There is more DEBT and IOUs about than the total value of stocks and shares on the planet.
Servicing DEBT with IOUs (Bonds etc) is a fools game.
Inflation and High Interest rates will ruin many, not only in China.
How does the USA handle their Debt problem.?.....
It PRINTS MORE MONEY.
Like the game of Monopoly, as long as the "banker" keeps dishing out the paper money, the game continues......BUT here's the thing during the game, the winners get fewer and everybody else loses.
END GAME SOON.
The US trade and investment curbs together with rest of G7 has bought down China exports by 15% YTD. There is concerted effort to do a Japan 1989 on China. As a result US interest rates are going up. We shall see how this plays out. China is not Japan.
Don't forget China's demographic problems. Shrinking population like Japan.
@@farzana6676 Dont worry. China collapse is not near.
Takes awhile to shrink 1.4 billion. When China was at her peak, she probably has 300 million people, The size of the US. Their land mass is the same as US. 300 million people is ok.@@farzana6676
@@farzana6676 "Demographics" is brandied around like some profund biblical truth. The West is getting older at about the same rate. Immigration is tearing social fabrics - Paris riots, dress codes etc. Demographic is universal play within technically developed societies and the answer is AI and Automation.
@@farzana6676 - sure , it will take 101 years to diminish to the size of your country?
We already all these from last yr.
The US has much higher debt, especially on a per capita basis.
Nope.
Ugh. Spit it out bruh!!!
What next ? More deeper and more longer !
Maybe it comes with buying too much of US bond/debt 😂
It would be in a lot more trouble😂 if our country would stop buying from them. Buy everything made in the USA🎉
No thanks. US products have always been expensive and poorly made.
@@ABanRocks why don’t you move to china since you love them so much. You sound like you love them more then our country. I wish people like you would give up you their citizenship and get OUT
how many Americans can afford that? Be down to earth.
What do you expect? Everyone knows that Xi don't have high school diploma.
@heinz- he is shy to show you his "honorary Phd. Certs", believe you will black out in a jiff!
wimp!
But i heard everything was fine
It’s a 2-way street, we buy from them and they also buy from us. Albeit, it’s a deficit but it’s still billions of dollars.
They don't buy from us
US prints the dollars. Thats all . The Chinese slave to make the products 😂😂
The US and Canada economy is worst by far, but I don't see much about that!
Wouldn't want to own any Tesla stock right now.
This guy seems clueless
Yuan isn't worth paper it's printed on.
What about personal savings which is also investment driven in immovable assets.I think they better off than Americans
0:37 hmmm who else has a lot of debt??? 🤔
ohhh look whataboutist coming out to play
Been hearing that since 10 years ago, and here we are 😂😂😂😂
China peaked in 2019, it has been all downhill from there, but it will be a decade or more until they aren't a significant player.
BRI could have being magnificent, but China became Arrogant and Brutish. Border Disputes with all 14 of its Neighbors and Debt Trapping 97 Nations. Victor Gao boasted on Arnab's program, that China is committed to keeping Pakistan in its current state of Splendor and Magnificence. Which reflects everything wrong with the CCP Mentality. Not satisfied with being Number 2 Superpower it wants to become God,,,,,
@SSDK- more than donkey years ago!
0:37 hmmm I ho else has a lot of debt??? 🤔
Halloween must be near…
China has plenty of gold to sell
Did he say “ding ping”?