What's Next For The U.S. Economy: Jeffrey Sachs
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- Опубликовано: 13 июн 2024
- Economist and best-selling author Jeffrey Sachs says a geopolitical Cold War with China would be a “dreadful mistake.” He explains how globalization will persist as societies and workplaces move online and urges policymakers to come together to tackle issues like climate change. Sachs says the U.S. economy won’t have a “v-shaped” recovery because of he country’s failure to contain the spread of the coronavirus pandemic.
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What's Next For The U.S. Economy: Jeffery Sachs
Do you agree with Jeffrey Sachs? Is there someone else you’d like us to interview for What’s Next? Subscribe to CNBC and let us know what you think in the comments below.
I agree. it was Muslims, then it was Russia and now its Chinese people. We're always scapegoating people to stand in a better light
Pre destinated The 10 Super Powers work to keep the other countries down. It’s not just America.
www.scmp.com/economy/china-economy/article/3034779/donald-trump-still-wrong-about-huawei-says-jeffrey-sachs-whos
chinamatters.org.au/views-in-chinese/jeffrey-sachs-and-huawei/
Keep his background into consideration , before taking him to seriously.
I disagree with Jeffrey Sachs. I think that China wants the best for its people but there are significant obstacles that make it vulnerable to the West: discord in the CCP, lack of US dollar convertibility via the Hong Kong banking system, the Taiwan issue, water resources stability via Tibet and a demographic crisis being most notable. To that end, I would like to see you interview Gordon Chang or Kyle Bass.
ruclips.net/video/zltC4oXoSxc/видео.html All Americans should watch this so that you will know who is right and who is wrong.
OMG A sane American. Thank god for you sir!!!
I am sure a lot of people will brand him either as an ignorant idiot or a commie lover.
@@wk9378
...and they would be doing so while they’re living from hand to mouth because they’ve been handed the shorter end of the stick by the top 1% and yet they haven’t wised up to it. So no surprises they wouldn’t understand that Sachs is a voice speaking for their welfare.
@@wk9378 lots of people brand you as a armchair general. imagine thinking youre better than a professor who studies this for a living lol. social media give idiots a voice in everything
Out of all in USA, a true sane. Agreed w u.
Mainstream media not demonizing China and instead, speaking rationally on the subject is quite rare these days. I salute you
Dont be so quick to praise
@@bazle64 oh yes, be quick to praise those like Sachs who tell it like it is.
The bar is so low...
When Americans talked about human rights and freedoms, they are referring to their rights and freedoms. When their leaders talked about rights and freedoms, they meant that 1% rights and freedoms. NOT the ordinary Americans or the rest of the world.
U can forget about Human Rights or Freedom, America is still trying to snapback on the Iran sanction.
Where is the freedom? Thier ppl live are threatened, where is the human rights?
US is so used to go the opposition of a country, work with them and then let them fight among themselves. And sitting at a corner shouting democracy, freedom etc... But the fact is America is the main culprit behind.
And we are not talking about 1 or 2 examples here, how long must we spoil America politicians?
The UN must act, WTO must act, so many penalties that America hasn't pay for.
Tosser was
Dr. Jeffery is one the most enlighten American alive today. May God bless this professor.
Agreed. He has the guts to tell the truth. This is why Jeffrey angers the corporate media outlets because Jeffrey is not spewing corporate talking points. Hating on China, Russia and Iran helps the military industrial complex make more money- and it has a direct effect on boosting their stock prices. As Smedley Butler, the decorated military officer, had mentioned, "War is a Racquet".
Almost a year later and now look where we're at LOL I hope all of you are ready for World War 3.
One of the very few USA specialists who dare to tell the truth!
another one is Richard Wolff
Thanks for understanding China so well. US need to work with China to get out of this mess.
I am Swedish, healthcare isn't all. You pay somewhat 25% income tax and for that you have free healthcare, free social benefits, unemployment services and insurance and free ground, high and college school. Simply you don't have to worry about your health, education or economics.
I love being in a society were the people takes care of each other!
Sign me up. I will willingly pay the betterment of all of us.
Honestly, Americans love to brag about how low their taxes are but if you factor in how much they pay in healthcare insurance premiums and how much they pay for education, the Europeans who pay something like 20-30% in income taxes might actually be ahead financially.
I'd love to visit Scandinavia when this pandemic blows over.
Its better than choosing which finger to sew back on because your insurance doesn't cover the cost
Here in us we pay 28% taxes and we get nothing when it is needed😡
It takes a person of great integrity to honor and defend peace when everyone else is clamouring for war.
He is really a wise man. What he said really wakes you up. My salute to him
In that case you probably slept right through the Soviet era. China is re-enacting that play.
Very sensible analogy about China insights. Let's hope America can produce more people like you and the world will be better and safer place.
A year has passed LOL now look how bad things have got. I hope all of you are ready for World War III.
Thank you Professor Jeffrey Sachs for your insights, especially in this special time!
Love this man and his sincerity about China . He is very knowledgeable and all Americans should have the chance to see and hear his talks .
A true citizen of this planet. An unbiased man. Stay blessed
This man is amazing. He is spot on. There is SO MUCH misinformation out there, it's great to hear someone cutting thru all the BS and just telling the truth for once. Jeffrey Sachs is awesome!!
Looking back 1.5 years after this interview, it makes Jeffrey Sachs even more credible. All he want is a better future for America and the world, yet there are still many fools out there trying to deny his kind intention.
Wait, you think that predicting that China was accelerating beautifully out of the pandemic due to better government Chinese policy makes Mr. Sach's look more credible!?! 🤣
@@redhawk7002 US took China’s warning about the covid and she took it lightly. China can’t be blamed.
Thank you very much, Prof Jeffrey Sachs. Hopefully, more people will pay attention to your truly intelligent remarks.
Thank you Dr Sachs for defending HUMANITY’s progress instead of playing the ‘blame’ game! Everyone will prosper if we collaborate and partner together.
It is great to hear these truth. Many of my friends move back to China this year because of the unfriendly environment！ Politic is a game. We shouldn‘t be manipulated. Unfortunately we are.
Go get yourself educated and not hide under the coconut tree. China are blood suckers.
"This Is Our Last Chance": Marco Rubio Issues Dire China Warning
ruclips.net/video/UzpjyZhffPk/видео.html
@@zenlei8258 You just confirm what she says, Marco Rubio is a dirty politian, not an economist. So listen to politian without fact check is educated now?
@@davyliyang You are totally ignorant. Marco is a patriot who love his country and want to save America from collapse. Get that into your head.
@@zenlei8258 I would not let words of politian get in my head. I can make my own judgement, thank you. You would let politian shift your judgement, and call that educated?
@@rz5550 China has been sucking HK people blood and sweat until HK young people cannot breath anymore. Your brains need to be re washed.
A balanced, fair-minded, thoughtful man. We need more people like him!
Professor Sachs is a very wise man who sees, and more importantly, reports things as they are. Salute!
It’s almost as if Andrew Yang was right all along. You know what’s the worst part? Saying I told you so doesn’t mean crap when the world is falling apart all around you
And he is not the nominee the US has no chance with either Biden or Trump
@@qjtvaddict
Because he's a visible minority Asian American and considered as not acceptable by most folks due to ignorance and pure racist.
If u believe Andrew yang so much then hear my prediction the moves of your politicians is on the right track
@Tobby Isiba
The $ numbers are there to spend.
It's just how they want to use it or who gets it.
@@loktom4068 the most VISIABLE minority are black people. Stop your lies.
Thank you Mr. Sachs for telling reality like it is! Americans need to be educated about the truth of geopolitics, the economy and the crisis we are truly facing.
Thank god we have this sober mind in US.
wumao
Thank goodness this little butter wouldn’t melt in his mouth prof will be among the few globalists to guide the new normal rules for each of us all the time. Big brother’s guiding uncle for population control. Wonderful China-ask the Uighurs or the Catholics and other Christians. Nothing but benevolence from the local police citizen facial recognition
@Chloe Lin What a pity most of the your own people are as dump as what George Carlin described.. see the turn on play?
Sober mind? Ask people of Hongkong if China is not a montrous dictatorship with world dominance objective? Ask Australian, Korean, Thailand, Philippines, Japan, India,.. Tibetans, Uyghers,... should I go on?
Economically, yes we shouldn't bury China, but democratically and geopolotically China needs to be stopped. An economic professor should limt it's opinions on economics only. CNBC obviously has an agenda here.
@@bobhan6395 Duh... CNBC always vouched for China just like Bloomberg News does... they don't adhere to any nation at all, but to only one kind: money. Who cares if one country decides to do what the US have done in the past? They don't give a rat's butt on anything that is remotely human rights violations or anything that will constrain their own agenda. Human life to them is nothing but geopolitical pawn game.
I read lot of his papers when I was still at graduate school. Prof is the leading authority figure in the area of international/developmental economics. Pleasant to read sometimes. Trump or his son in law on the hand picked peter novarra. This is like a cultural revolution going on. Incredible.
Trump is the dumbest and worst president in history.
You have been wasting time reading his garbage, not so ? Ask him why he help create the mess in Russia and dislike Russia.
No surprise a Republican president passed on this man. He's clearly socialist.
Well said. The US political system and media today are full of bias. America wont be great unless people realize:
Weakness and ignorance are not barriers to survival, but arrogance is
The US media is full of bias TOWARDS CHINA!
Then the US won’t survive
I'm from Asia and to deny China's abhorrent behavior is to deny justice for neighboring countries.
Yeah it probably doesn’t do the US economy good attacking China AND THATS OK, because China is actively committing human rights violations to expand their power (note the millions of muslim uighurs kept in concentration camps and Hong Kong completely subjugated to Chinese authority) With or without repercussions, the west has to stop them.
It's sad that average American think they know many evil things happen on Uighurs or Hongkongers without knowing they are in a gigantic echo chamber filled with disinformation!
Wake up, don't let those dirty tricks distract your attention! Ask yourself, who get bailed out every time when a crisis hit?
Mr Jeffery Scaff talks a lot of common sense without bias. I enjoyed this interview.
Good in bussiness mind n kw how
@@yiannimitropoulos3913 Haha, there always be criticism about human rights in China, but seldom in USA, because media turn it into racism, and the world media is controled by westerners, who never listen to other voices from rest of the world.
Me too. He spoke sensibly.
@@yiannimitropoulos3913 you think USA really that good and not done any wrongdoings?
the discrimination towards its own citizens especially for colour people. George Floyd didn't have freedom to breath, let alone freedom to speech. Jacob Blake didn't have freedom to explain his innocent. And so many case that you ignored. it's just a tip of iceberg
For Uyghurs re-education camp, its far more humane that what USA did in Iraq, Syria, Afghanistan and other middle east countries. They just re educate so they don't become extremist. So you think its really awful to have their mind and perception being corrected versus killed them on the spot by labelling them terrorist?
btw, do you know that majority riot or protest all over the world initiated by CIA and its affiliate ?
CIA has many track record in instigation, provocation, spreading false information in other country to start a riot and act like a hero to save the world from war.
@@pepsodentvanila CIA does have a track record but that doesn't equate it as what China is doing either. That ain't the point that Yianni is making. I agree with alot of what you stated, however, over in China, there is only a limit of freedom of speech. You can't possibly think that the recent conflict with India on the LAC is just a mere 'mistake' do you? Or the fact that there's a growing inequality from inside of China that is similar to the US? ( Check out Thomas Piketty's work on that one, google it)
.
ruclips.net/video/VQWBpO2pIbs/видео.html
Or the fact that the large Chinese fishing fleet has ran amok with very little regards to the ecosystems that its literally swept up by them?
ruclips.net/video/l2DPi2T6ZLc/видео.html
Seriously the US has some definite problems that won't easily be solved, but at least we can somewhat voice our opinions either through violent means, protesting, or through the ballot box. ( Yes, I understand that it isn't always perfect but its better than the other two means). We have multiple ways of expressing our feelings.
I agree with the points that he raised. He explained everything in a calm, sensible and logical manner.
I agree everything he said expect the part about china. China (Peoples Republic of China) is totalitatian however.
China does not report true number so and saying something calm does not make it right.Trump does not listen to fools.And the job lose where democrats caused by closing this ks down
@@MrFf00 so what are the true numbers?
Forget the pandemic. The debt was in the trillions before the pandemic. It's unsustainable. This is sinful.
keep racking debt.. and most rich people who gave loan just relex and get more interest return.. refinance yes for high interest rate...
First, the privileged decided that government debt didn't matter. They then decided that corporate debt didn't matter. Now private debts are in forbearance. Extend and pretend has succeeded far longer than I thought possible.
US likes to fight wars spending billions of dollars constantly. That money should be spent on education, healthcare and infrastructure
Keep in mind that every debt is another person’s credit. Every interest payment is someone else’s income stream.
What an honest, straightforward, sensible man. It's a shame that people like him don't have any power in the US or UK. I don't know how bad it is in the US, but UK Government policy has killed a bigger percentage of its citizens than any other country in the world, and the UK economy shrank by twice as much as the average G7 country (20.4% from April to June). The situation is horrendous over here.
UK can beg for help to its master US but sorry even US is crushing down.
Work together, thrive together. Want to crush each other, it will drag the entire world with it.
China is not what the west depicted, we have been visiting & working with the Chinese since 2008 . . . Go and see it for yourself 😊
Bc you get what you want from them
Great job 50er, now go get your 50Cents from the CCP, loyal comrade
Anglers UAE hold on.... you use literal Fox News to provide information? No wonder people are so uninformed
@@AnglersUAE ah i see why people are so uninformed. they use literal fox news to provid information
As to whether America will retain its world power status or not depends solely on the Americans and its leaders, how smart, disciplined, and wise we are. It's not up to China, Russia or anyone else.
but China is now the new world leader along with the Russians and China already has better weapons and high- technology than us( USA) according to the Pentagon :ruclips.net/video/jp3S5BgxR1c/видео.html y ruclips.net/video/m0ELNu6DOTk/видео.html
All empires fade away. That is the rule, not the exception
@moshe goldstein I would not count upon that if I where you.
@@jordancarpenter4093 I should take that with a great big pinch of salt
@moshe goldstein Yes but GDP is becoming less effective in measuring. So you really believe China's current GDP is actually the true measurement of growth?
"how would you judge this current moment, what do you think we'll look back on at this time in the future " I think what we'll look back on this time and see that we COULD HAVE PREVENTED ALL OF IT but didn't because everyone is stupid.
Not everyone in the US. And I should say, all I mean all of them and each and everyone of all the US politicians are very extremely stupid, greedy and only look after their own pocket
Imagine Invented gunpowder just to make fireworks, so everyone can enjoy some pretty sight celebrating the lunar new year.
That’s where my parents came from, a group of people that’s peace-loving to a fault.
Riiiiiiiiiiight . . . . . I mean, apart from the concentration camps, Tibet and illegally building a military base to threaten international trade routes, totes peaceful.
@@seanmcdonald5859 US overseas military base: 800+
China’s oversea military base: 1
Percentage of annual GDP spent on military: 3.4% for the US, 1.3% for China
Peace loving to a fault.
@@seanmcdonald5859 You seem salty. I suggest you to invest in the mining of salt rather than commenting on RUclips :)
truly a clearly and candid talk, no so called ideology, but clear minded and truth speaking.
China is fundamentally US's factory on low-end products in 3rd-tier supply chain for the past 30 years. Like it or not, those "JOBS" are not coming back to the US, and forcing them outside of China take time, and money, you better believe that will reflect on your price tags. You and me may not rely on the 9.99 toaster and 5 dollar t-shirts. But people that works for us or the people works for the people that works us does.
BTW Just look at the comment section of any US-China topic , you think it's coincidence that often Indian accounts were the ones with most radical comments? So...what trump is doing is not so much as "make America great" rather than "make America Pay -- so INDIA could have a better chance to be great." Maybe someone should look into how much India has been "rewarding" trump and his family.
Underrated comment
I've seen it done first hand in my country. You have an incompetent adminstration, you get someone to play the enemy and demonize them so that whatever downturn - economic or otherwise, is not because of your government's incompetence, it's because of the 'enemy' is sabotaging and maliciously fighting.
Trump wants us to start making Nike and Apple phones so they can cost $10,000 a piece
Don't worry.
Mark my words:
Mexico Will Save The American Economy.
And here it is how it will do it.
1.) USMCA
It is much cheaper to produce items in Mexico due to it's cheap & young labor force.
2.) It's close proximity to the U.S. makes it convenient, cheap and reliable to get products to market.
3.) There is a commercial rail line in the southern part of Mexico that will compete with the Panama canal. This will give manufacturers in Mexico access to both the Atlantic and Pacific ports.
All of this will bring prices back down and all Americans will benefit.
@@lcifermorningstar191 and hopefully these jobs will give people a new life and won't work in the drug cartels.
As a Chinese, I'm truly impressed by how much he understands China. I've NEVER met westerners who were not swayed by the fear tactics unless they have lived in China for a long period of time. A lot of coverage on western media are biased (they have factual base but slightly deviated from the truth). The US is a country that most Chinese look up to and want to learn from. They do not regard it as an enemy.
@V. V that loser86 will say anything to increase the views on his channel. If there are 100 things out of China he can talk about, and 99 are positive and 1 is negative, he will pick that one negative story, exaggerate it, then make Americans and all his other viewers believe that's all China is. I'd rather believe a well-educated Columbia University professor than someone like loser86.
What about SerpentZA and Laowhy? They lived in China for around 12 years each, speak the language and have Chinese wives. They love the Chinese people but absolutely hate the CCP and the way it is governing China. I expect you probably do too, but can not say so. They left because of the "fear tactics" used against them by Nationalist bullies and fanatics. The problem is that western media have stepped in to a vacuum where independent Chinese journalists should be, but are not there reporting on the important stories.
When a renowned professor first sentence is : "clearly, we're in a mess! ", then you know its no time to dance
Jeffrey Sach is the Hero of truthfulness.
I like his opinion regarding to these questions, especially for China and Globalization. Some political powers try to make China stand out as US's political and economic enemy. if US government think this way too, it would be a huge mistake.
The rogue US regime is indeed moving in the direction which you expressed fear. The US is reacting to its declining influence and primacy. The US regime is reacting to these decline like a drowning man, flaying its limbs in all direction and clinging on to anything nearby to keep itself afloat for as long as possible. For those who choose to let the US cling on to them, they will drown together with the US regime.
But it is so convenient to create an imaginary enemy to hide all the country’s short coming.
China ,is not Imaginary country ,to be corrected .China is not the enemy ,look at what these pass 10 years China has come along,allying with the west with the development & thinking for economic & environment growth & protection .Look at the sudden change of USA foreign policy in this 3years . Trade war, Isolation , social division ,reckless $ printing !!Thanks for the leader & Reupublican
We have shortcomings because they stole our technology, secrets, military info, and much more. This is why they are making man-made islands to help protect themselves with these militarized ocean bubbles to shorten our attack and defense positions as we can reach out further than they can. Shut up you pink-bellied communist pig.
yes it is easy to create an enemy,
but it is hard to deal with it.
@@Black-Rock "...they stole our technology, secrets, military info, and much more." I am so proud to see that at least one patriotic American refuses to have "anything" in their presence which has been manufactured in China. America First. I had no idea that America made personal computers, cell phones, tv's and auto parts. Could you share your knowledge of U.S. manufacturer's so the rest of us can purchase only "Made in the USA" items, in particular, the personal computer and possibly cell phone you used to post your comments here.
Thank you professor Jeffrey for your unbiased points of view.
A rare voice of reason!
Right on the target. Great insight. Acceleration of future trends is unexpected.
Just when I was close to giving up on my fellow Americans, I watch this video and realize that there are still some smart, sane Americans among us.
We're working on evacuating all 6 of them to Canada.
Axe 🤣🤣
China has territorial disputes with: Russia, Japan, Taiwan, Malaysia, Vietnam, Phillipines, Bhutan, India, they wiped Tibet off the map, Brunei, and I probably forgot someone in there. They have concentration camps filled with Muslims. I hope you leave America because you are a coward, you would have defended the Nazi's themselves
Fireball FPV don’t care not my problem not chinese
Fireball FPV so what you had decades to elect proper leaders and you never did you refuse to crackdown on stupid people and now your country is dead too bad. You don’t deserve the smart people. He is no coward he sees the writing on the wall
Wow, a talking head on a mainstream news network with a sane rational take. That's so incredibly rare these last few years.
wumao liked this.
dwa dd And people like you who cannot avoid slapping a label on every single person with an opposing view is the very reason why countries like the US are falling apart, fast. You just don’t have in you to learn something new.
@@shineluvslambiel Very well said.
Indeed
Hope more Americans can watch this interview and realize how they got shortchanged and led to the wrong path by the politicians.
Yap yap yap yap ... go away duck
@@Sxtnstn That's exactly what Trump said about the coronavirus.
@@ohgoditsmaddog Sadly, most people like to listen to fascists like Trump and almost all US politicians speaking than sensible ordinary people with real knowledge like Jeffrey Sachs
Uh I don’t think US govt would want that.
They want their citizen to remain stupid so they can propel their propaganda
ruclips.net/video/1hcW8Cs_yjA/видео.html Wilmington Race Riot，The same，Black changed to Chinese
I like how he carefully lays out the logic of his arguments and ties them in with culture
Fantastic interview , broad thinking guy
He’s just at best an apologist or worst paid stooge for the CCP.
Its called Cultural Marxism
What is a cultural Marxist? And didnt Russia help US in WW2?
@Rudy Bruce wumao, i think
@@chrislg4519 Are you kidding me? Are you serious right now? Russia signed a "Friendship Pact" with Hitler, which stated they would not fight each other and Russia would share in some of the Baltic states division. Hitler turned on Russia and attacked them. They fought back and it became a two front war for Germany. Something Stalin thought would never happen. He thought Hitler would use common sense and avoid that.
Yes I agree with all that Mr Jeff Sachs is saying, and by the way this was a very informative interview. Thanks
China is EVIL. We should slowly move away from China as a source of the products. They lie, steal, and copy our tech, and IP. So, what is so good about CHINA and CCP? NOT A DAMN THING, except for as potential customers.
zero . none , zilch, nada
Really, what did you learn?
Matthew Morgan, some people can be fooled by the mainstream media paid by Chinese communists again and again and never learn.
@Jun Don Yes Jun Don't your right on TArget Never TRUST CCP BUT TRUST CCP OF XI JING PING BUT TRUST THE COMMON CHINESE IN CHINA,COZ THEY SUFFER TOO . . .TNX
thank you Jeffery. I strongly recommend everyone watch this interview
We Asian, especially of the Chinese origin are in favor of 3P. Peace, Progress and Prosperity. Unlike their counterparts in the west who would prefer 2P like Personal freedoms and Protest.
do you think it's necessary to sacrifice personal freedom in order to get the first 3 P's? or is personal freedom an essential driver for them?
orioles 70 yes, people who live in China would answer yes. Freedom of speech only affects the richest 1%, with the government strait up ignoring people trying to speak out. So it’s not like they care if they don’t have freedom of speech
orioles 70 Americans shout “WE HAVE FREEDOM” when they have less “freedom” then most of Europe
@@orioles7023
In the East, the main object is to have a well-ordered society so that everybody can have maximum enjoyment of his freedoms. This freedom can only exist in an ordered state and not in a natural state of contention and anarchy.
Lee Kuan Yew
在东方的国度里，最主要的使命是要建设一个＊有纪律的社会＊，那么每一个人就可以从中享受最高的＊自由＊。这种＊自由＊只可以建立在一个＊拥有纪律＊社会。而不是存在一个充满争论和无政府主义的状态之中。
师城国父：李光耀
@@orioles7023 Sometimes, personal right and collective benefits conflict with each other. Not every problem has a perfect solution, good thing is Chinese people are free to go anywhere, a lot of them like the American way of live, so they immigrated to the U.S, some Americans and Europeans like the progress and efficiency of China, or the lower cost of living in southeast Asia, they moved to China and Thailand. I don't see the problem in that. The western world
emphasize personal freedom, to the extent that most people think it's ok to sacrifice the benefits of the society for a few people, and 2 major problem came as the result of that. 1, the cancel culture, the coperates can easily use a sample of a few to manipulate public opinions, the oil company sold the idea of cars equal to freedom to the public and we abandoned nearly all public transportation. The politicians can easily drag on the progress of the country, stop any new propositions, new plans and projects by giving 1 or 2 example of possible damage of personal rights, and the public will oppose that project. 2, With less than 5% of the world's population, America has 30% of all the prisoners in the world, drugs and guns are everywhere, people don't even feel safe to walk in the streets after dusk, yesterday in L.A someone pulled a gun and shot a 6 years old kid dead in a road rage, and guess what, that's our "freedom", and under that cover of freedom, is the profitable business of the NRA and the arms dealers. Freedom is a 2 ways sword, it grants freedom yet it brings chaos, asolute freedom is absolute chaos. China chooses order and collective benefits over personal freedom, of course. people in the west don't have to agree but at least we need to try to comprehend the idea. It works incredibly well in China, especially in a long run, the country owns most of the resources yes, so the government has the money and power to focus on the major issues and industries, after they succeed, the wealth and benefits are redistributed to the public for the wellbeing of the whole. rather than printing money and hand them to the poor so they can send it on weed and whiskey like the way we do it in America. Look at China, they have lifted 300 million people out of property in just 2 decades, their average household income has increased 30x fold, a whopping 30,000%, and most importantly, their middle class has expanded by 800% in just 10 years while our middle class are shinking. That's the difference between idea and reality, in theory, China is suppose an evil country that takes away some of their people's personal right, but the reality is, in return, it gives much better overall benefit, stability and safety for the entire nation. That's why their government has a approval rating of 98%, according to the Harvey Universities survey in China 2020, it doesn't make sense, unless you understand China.
If more Americans listened to Dr Sachs we'd all be so much better off as a country. If there is such a thing as a humanist economist the good Dr fills that bill.
A great man, and a balanced economist. We’re going to have to get going to escape without regret from this period of greed
We were already in the biggest economic collapse in decades before corona. 23 Trillion dollars of debt. That should say enough.
That doesnt matters because of dominance of dollar in international trade. People blindly trust dollar due to this.
Debt isn’t real
It's more than enough, it's overflowing!
If debt doesn’t matter then why pay taxes, why finance it ? 🤣 we socialize the losses through money printing
@@sourabhs14 Its true that people have historically favored the dollar but right now the USD is in freefall compared to any other currency. I agree when the USD is strong we can do as we wish but were on the edge of the USD falling as the #1 currency.
Thanks for your courage and wisdom!
I appreciate highly your fair assessment on human rights issues, Professor. As I am the one who has followed time to time your remark and
your view in different forums, I noted that your common sense is your ability to make a fair and impartial judgement on different issues.
Looking at the replies claiming this economist is biased. But maybe we're the ones who are biased? I'm not a China sympathizer but the West has always called for the partition of China since the colonial days. China succeeded without the West's playbook and is therefore seen as a threat. Even Winston Churchill claimed they are a threat to white supremacy.
I value free speech and democracy. But let's not forget that the West has had a long, oppressive, not so pretty history with China (Eg. Opium Wars, Spheres of Influence). And that America and the West is just as (if not, more) imperialist than China. We also control the soft power - America's media and culture influences the world. China is seen as a threat to that Western influence - everything from culture to philosophies of government.
In addition, we, the US (and the West) can't claim moral superiority with our imperialism, wealth inequality, rampant racism, lack of social services, Etc. I'm NOT saying China is the beacon of morality, either. But looking at how they succeeded without the Laissez-Faire ethos, we should question if our own models of thinking and government are working. In my opinion, I don't think we're taught to fear China because of its human rights violations (trust me, we would be fearful of ourselves if we were more in tune with the recent events in Palestine and the Middle East - or EVEN AT HOME with private prisons, police brutality, and kids in cages). I think we're taught to fear China because they succeeded with their own model, outside of the West and America's influence.
Did you not see what the Chinese Communist Party has done to Tibetans, Uyghers, Christians, Falun Gong and Hong Kong ? And that's all happened in the last few years forget Churchill 🙉😎
Yeah the West is devious, manipulative and exploitative but they are run by Corporations of self serving (and sometimes competing) interests ..where as the CCP is ONE Corporation of ZERO competition.
Miss the point! Did not tell the truth that CCP is not China.
@@tomsu7856 but it IS the truth there's no China without the CCP .. sadly
BILL HANNA did you see?
@Flynn News Blog around the world? Huh? I didnt know it was China that invaded and waged wars in the middle east....lol
So agree. The whole world will suffer because of the ignorant few in power!
Margaret Yu those in power are not ignorant. Their actions are evil and calculated.
@@leeweekang =/ yeah CCP's 2015-2020's action is debated and may create the downfall of an entire nation of 1 billion citizens.
The top down principle did cause this pandemic to spread to over 100+ nations. Like Margaret said; few in top power end up causing millions of lives and many more to die.
GOT THAT RIGHT.
i know! namely that ayatollah, putin, xi, and what all these 3 are trying to do their best to emulate: kim jong un
Yup I'm from INDIA 🇮🇳 our GDP also contracted by -23% in last quarter but good news for us is that it has came back to positive numbers in this quarter and projected to touch double digits in next quarter
HOPE YOUR GDP ALSO RISE AND COMES OUT FROM THIS PANDEMIC
Prof Richard Wolff should be interviewed
Quite refreshing view. Hardly ever heard in our lattitudes. Greetings from Costa Rica!
👍
Great interview! Common sense and decency that is not so common nowadays from the US media.
An American with sense. AMEN!!!
He quacks like a duck
By blaming others, we fail to find the real solutions to our problems and we do not carry out our own responsibilities.
Jeb Bush
This guy is from the lefties, he said China is good now what a rubbish guy China is still lock down and they still can't control the virus, your opinion is stupid, Mr Trump is the best President to deal with China, how much money you got from China so you praises China what an ediots, get your facts right who is gonna listen to your craps.
@@banana03 China under Control a long time ago . if you want to have the truth and you can go to China to find it out! you know all kinds of American companies in China they are reopen after 76 days later of the pandemic . Like iPhone store …………
You know what's stopping the US from having a social democracy system similar to Sweden? Our crazy ass military spending.
Why do you think the Nordic and European countries have the funds for all the social programs?? Why do you think NATO members are being encouraged to meet their commitments to the alliance. Perhaps it is because the US has been paying for NATO and their defense. Even if they are not in NATO they benefit from NATO by reduced defense spending. In addition, countries like Denmark (6 million people) Sweden, Norway and Finland are not multi-lingual, multi cultural agglomerations but are homogenous and like one big family where members have a sense of community and are far more willing to make sacrifices and share.
@naranhan2010 I'd say Europe been paying protection money to gangsters more like... look at Pompeo coming over to Europe & threatening left and right.
@naranhan2010 Are you kidding me? Have you not ever been to school? Ever heard of the iron curtain and the cold war? Countries have always paid a large portion of their GDP for maintaining a large army, air force and navy (if they have a coast). If someone else shoulders that burden they no longer have to decide "guns or butter", the Government can just provide the butter while someone else provides the guns.
@@chopchopsuey1263 Only the UK and a small number of countries have ever fulfilled their commitment to 2% of GDP to support NATO, most have barely made 1%. From 1945 to 1990 there was the threat of the Soviet Union invading Western Europe. I presume you are too young to know or are a bot that does not care. In any case a completely juvenile response.
@naranhan2010 I can see that this is a pointless discussion as you obviously have no understanding of history. The USSR was not providing troops for defense, they were occupying armies. After the USSR overthrew the democratically elected government and installed a socialist regime they maintained soviet troops as an occupying power. Perhaps you have never heard of the Berlin airlift in 1949, Hungarian Revolution in the 50s and the Check revolution in the 60s. Stalin was always planning a takeover of Europe.
The large cap stocks, that have high liquidity, are safe havens. Small caps that don’t have access to 💰are going to fail.
Just don’t be a hog.
I agree with him. This China blame game is very dangerous
Is not just China blame game.
There is also Russia blame game..
Oh wait also some in middle east etc.
It has always been like this.
.... but absolutely necessary and justified
Someone is telling the truth.
NOPE
Peter Chang, NO. Almost everything this professor said about China is wrong. The mainstream media is again paid by CCP to brainwash the Americans.
Maria Garcia back to your mother’s worm, please! Have more brain then go out to greet our world!
@Maria Garcia No, you were.
Andrew Yang has been correct this entire time.
I don't think Yang has the answer, his only answer seems to be to give a monthly stipend to each household/person and with that, prices will rise until it's gone and people will be back where they were.
I think the answer is to go back to what the Republicans consider the 'good old days' of the 50s and 60s, re-install a progressive tax system that requires everyone to put in their fair share, the rich benefit more so they should pay a higher percentage of taxes. I'm not saying it should or shouldn't be there but in the 60s, the top marginal rate was 91% at one point. Why does Bezos need to make $110,000 a second and pay virtually no taxes?
BTW, bring back the right to unionize and upgrade the social programs, the tax system needs to be like it was then and the public education system needs to be properly funded but leave the racism and bigotry behind.
Very good coverage!! Thanks!!
Why does she keep asking the same question over and over about the economy and stock market?
Dozens of experts already told her that stock market is not the economy.
Unfortunately that what the “ elite “ and politicians care about . I know it’s sad right ?
100% agree with you Dr. Sachs. Very honest, truthful and non-biased perspectives. Very rare these days.
However his views on china are biased. He said the ccp is not totalitarian but that id a lie. Just look at hong kong, yuhgristan, northern mongolia, tibet, lool what they dis on fallun gong.
But I agree with sachs on most of his viewpoints.
Dr Sachs, thank you for sharing your compassion and wisdom with us. We need your voice.
Good Interviewer and nice calm intelligent Jeffrey Sachs responses.
I agree with you Jeffrey. Stay well brother.
Prof.Sachs is a very insightful intellectual who has the integrity to give fair assessment and advice to the US. A rare gem. Also, thanks to CNBC and Elizabeth, who interviewed him and gave him the space to share without imposing ideas on him and cutting him off in session frequently seen in other so-called media " interviews".
Excellent eye opening, rational, logical explanation!
This guy is a biggest Brain in USA when comes to geopolitics. Respect
I'm getting the feeling its only CCP trolls who are endorsing this pretender. They they love this guy because he plays right into their hands.
Finally we have someone saying the truth, something positive about China. 👏👍
Thank you indeed Dr Jeffrey, finally, the truth
This man’s reason is a million miles away from policies of many U.S. politicians, he makes sense they don’t.
That’s a very typical statement from an economist: trade is beneficial for both side
it don't matter... it just mean more crime rate and high unemployement...
Trade with China has sure been incredibly beneficial to the U.S.A. The countyr has got incredibly rich. Of course that wealth is hugely unfairly shared. But that's not China's fault.
@@ailblentyn Yup. The idea that China and other countries "stole" our jobs is ridiculous. The owners and managers of our companies found it more profitable to shift the job outside of the US.
Because that is true trade makes everyone better off.
Jun Don now you are saying that Chinese government have the authority to detain other nation’s citizens in Wuhan city?
Thank you CNBC for this very informative and well structured interview
Amazing professor 👍
But he defends the CCP.
@@botowner8623 that's his opinion.
This guy is nuts !!
The same questions, the same answers on every interview. Nobody knows what to expect anyway.
After you been a while long in this world, you might find that in most scenarios when people say "I don't know", it means they know the answer they have in mind is not popular.
Lex Luthor conspiracy
Lex Luthor very true
@Mike will
Trump actually accelerated the process of failure at the speed of light.
Just like his success with his past wives.
Go on line to Ron Pauls Report, and hear how things could be better.
Having seen this I wish the democratic nominee was Andrew Yang!!
Biden can appoint Yang to his cabinet. He would fill Wilbur Ross' shoes nicely. At least Yang won't be napping on camera during briefings or wrangle side deals to enrich his own coffers.
He is a man ahead of its time, at least for America. He’s too “ socialist” to most Americans.
@fane babanu yeah, the GOP were all for Capitalism, especially the MAGA moron, look how quickly Javanka is stuffing their pockets and wrangling side deals. I bet Trump got some of the $25 million that Bannon was indicted for.
YES! MY FAVORITE TOO. ANDREW YANG COULD MAKE AMERICA GREAT.
It will take decades b4, white Americans are ok with electing an Asian as president. They cannot look past his Asian face.
Wish the US would heed his comments and act accordingly. That would help solve many of the problems which the whole world is facing right now!
America is right to punish China and the whole world has opened its eyes to what China is!! No more business as usual.
He is the generation of professors that taught me that the US should send all "low skilled" labor to China. Then China started taking High skilled jobs. They don't teach that in school anymore.
The U.S got complacent. People spent too much time yearning for the past where a low skilled manufacturing job guaranteed a cushy life, instead of actually living in the present, working with/around automation & AI and ensuring that the economy can provide for everyone. Like the Red Queen from Alice In Wonderland said "You must keep running to remain in place". Competition is cutthroat, so whoever slacks would be left behind.
If the manufacturing sector stayed in the US there would be still a lot of lacking jobs.... Automation would have accelerated and it would not bring quality jobs because the main issue in the US is education! You cant have quality jobs without a skilled and trained labor force.... Europe and Japan knows this and their quality of life is way better than in the US. China knows this as they educate their people to build their own planes, trains, civil engineering projects and space industry... they are sending their factories to Africa not keeping them....
Jerome Orji that‘a what these people don’t understand 😂😂😂 they fight for low income jobs that are on their death beds like coal and steel
@@erikpienk Instead we preached the benefits of being taught by this guy. Only to find out during a pandemic you need those low skilled workers to make your mask, swap you, hand you your groceries we even made a new title for it 'essential' while these two sit on a pair of laptops. EDIT: Debating why the essentials should follow their logic.
@@erikpienk Your theory is a lackluster, it makes almost no logical sense and it is based on arguments whose veracity is questionable.
More like a rival beacuse nobody can afford an enemy today
Actually on ballance the West vcan not afford NOT to have an enemy
@@khankrum1 exactly, those idiot politician do not know how to run for office without "made up" enemy.
I always get in good mood when I listening to Jeffrey Sachs
Jeffrey Sachs talks so much sense. Respect!
Wow, one sane voice. That too from America. Stunning.
no
How can this guy really believe that China does not want to become the dominating power of the world? China's actions in terms of military build up, claim on territory in the south China sea, along the border of India, Senkaku Island, Taiwan, the Arctic, State controlled IP theft, heavily subsidising domestic companies with the aim of out-competing the rest of the world, imprisoning anyone questioning the CPP and various ethnic minorities, ruling by bribery and threats around the world to obtain advantages on the expense of the local population, I could go on. What world is this guy living in? Either he's a complete moron or maybe he's also on the CCP paylist, someone should look into this, seriously.
When the Fed pumps in $3 trillion into the economy where does it go the big banks Wall Street? So does that really help the economy or just the stock market!
the American way is blaming others, bombarding others without acknowledge of its own problems and incompetences, failures
Bruh, China is to blame.
I have a long study of history that goed all the way back to biblical times and there is one common theme running throughout.
Without exception, whenever a nation spends time in constant warfare they will inevitably decline and collapse.
As normal people, we want peace and prosperity. We do not want hatred, and another Cold War.
Agree.whatever it is cold or hot war we as a normal everyday Joe always pay full premium
He says what is all real and true. However I think he is candid about China......fisrt and foremost China has to be a democracy to belong to the global system. We see what they do with Hong Kong....does anybody expect them to behave differently in other parts of the world?. Sure the world has and is changing towards sustainability, online remote work, automatization, etc and the challenge is how to keep people earning a decent living.
So, now you'll decide what political system countries should've to exist in this global world???
Just keep in mind, it isn't 2010 that you'll bomb and destroy countries like you did to Syria, Libya and Iraq. This is 2020 and Asia is capable to defend itself from colonial bullies, so buckle up and be ready for "Asian" century (with UK and France converted into minions USA should learn to mind it own business)
A unified global system is posible with democracy. Hell even the USA is not a democracy
US has been instigating turmoil and violence against China in HK and China has to protect its own interests.There is nothing wrong with what China did in HK.
There are two sides to a coin. Don't assume what you think is right and the truth. Apart from the 1.43 Billion Chinese living in China, the majority of the Chinese born overseas in major democracies would think China did too little to subjugate HK. And only the wise would think that democracy is a flawed concept that is not in the interest of the people and country. US and India are good examples of the "beauty" of democracy.
To be honest, HK police is way much better tHan Portland police.
My 4th grade teacher when talking about China always used the term "communist, red China'.
prejudice create wrong.image
Talk about brainwash!
Michael Sharp, sounds like your teacher trying to get you brainwashed.
@@dragondescendant1 Along with my church, my parents, the media and the government......now I am trying to dirty my mind with the truth.
Very good interview indeed. US leaders and politicians should think like this.
He is sober and clear about a way for countries to face climate change as a collective, embrace technology and the evolution in this highly competitive global business environment to grow and prosper as countries. Also giving insight about proactive ways of economy recovery programs, be realistic about each other's strengths and weaknesses, and how to learn to complement each other for a common sustainable future. Misinformation that is leading is dangerous and has consequences.
I know how to solve the deficit. Raise taxes, cut spending,neither party likes that.
What does the government spend on? US is not a high welfare state, so, politicians? Weapons?
@@denisebay1737 most of the federal budget goes toward social security and healthcare, but because of the goverment not wanting to intevene that much with health services, it becomes deogarnized and at long term at a much higher cost
@@denisebay1737 Defense is 16% of the U.S federal budget
Start with the military!
@@denisebay1737 53% of the discretionary budget last year was military spending, which is the only major spending that doesn't generate any revenue for itself at all. Too few people pay into social security with too many recipients due to a range of factors, not least the lower birth to death rate than when SS was created. Finally the entire medical system is designed to be as draining as possible so even though we pay alot we get little.
It all needs to be gutted and restructured and no one will do it.