Well Sal, I commissioned a similar study to explain to my parents why my grades in school were so bad. The report concluded that the presence of students who worked harder, longer, smarter and were focused on doing well in school UNFAIRLY influenced the evaluation of my teachers. And the teachers would not take bribes. Big red flag, or hat.
*ahem* .... The CCP do indeed hand out bribes. and "your teachers" are indeed prime recipients of said bribes. Your mischaracterization of the situation is informative.
@@222aint yes, my friend daughter 10 years+ applied Singapore Asean Scholarship & managed to admit to CHIJ secondary one. She was one year wasted in Malaysia secondary One. Her application results standard were at Secondary One but English standard was primary 4. She need to take extra tuitions classes. After 6 to 8 months, her English language standard quickly catch up with the other subjects. At year end final results, she was top student of the entire Secondary One! Another year plus later, one Chinese student joined the school at Secondary Three & with several months the Chinese who studied even more harder emerged as top student!
Alright, first I would like to point out. Is it really the Chinese fault for their "dominance"? It sounds like the US and others gave up and sold the rights to the ports. And the Chinese are building affordable and quality ships. As we have seen by the refusal of selling an American Steel company and the absurd attempt to force a 50% shareholding of TikTok by the US. The US and others could have stopped the Chinese acquisition of ports and ship building. Who allowed these things to happen? This whole thing is utter nonsense. If you want to compete and retain control. Then don't take money from the Chinese and don't give up control. It is that simple. The US and others have done this in the past. This is like that stupid troup, China is stealing our jobs. No it was American firms who moved their manufacturing, production, and so on. That cut jobs in America. China is stealing our technology. Another utterly laughable nonsense. The US firms made agreements to come to China. One of those was technology transfers. It was these firms who agreed to do this. China did not send gun boats or put guns to the heads of the Executives. And this report sounds a lot like the nonsense I just covered. It's like if I were to sell you something and later said I was forced or cheated. When nothing other than I sold it of my own free will. Key words are free will. I have not listened all the way through this video yet, but I am a bit annoyed.
The U.S. cannot compete. The Chinese own the whole supply chain (raw materials to finished materials) and are now focusing on the value chain (design, engineering, etc...) for end-to-end dominance. The Oligarchs sold out the U.S. because of "globalization" which was nothing more than a way to funnel more money into their greedy hands.
You make sound points, yet sense an omission. I encourage you to look at corruption, both at a local, social level and then political level in China. Historically too. Theft is quite standard - laws are not enforced unless it's to save face or make a point. Theft of technologies US companies never offered in transfer. Patents and copyrights not respected, and a quasi world militia of agents in quiet US neighborhood homes who intimidate Chinese émigrés. You make sense in what you say, just not the whole story.
@@PeterTheVald You've got to be kidding to even try to compare corruption and theft between what happens in Washington DC and Beijing. You're way out of your dept and turning too many blind eyes towards the shenanigans that happen in western governance. If you dare not call the Tik Tok legislation pure theft , then that's the reason why we're heading towards ww3 !!!
@@PeterTheValdjust read the same thing, almost word-for-word in the Jeru Post. Guess it/you haven’t developed a response to Sal’s comments on the US “divesting itself of global shipping”….
"Unreasonable" is a very unreasonable term. I would think that these actions are entirely reasonable from the Chinese point of view. What's unreasonable is that we have allowed our shipping industry to wither despite our strategic interests and national security. I'm all for free trade and taking advantage of comparative advantage, but you have to think and act strategically.
What really unreasonable is the US currency dominance, plus the military dominance. While you have time to complain about others dominance in your daily supply, other people wake up day by day to carry out works to fulfil those things. Easy money printing, easy life enjoyment, and easier complaining!
@@georgechang6299. Because there is a right and a wrong, and the United States of America has been working it's power in a more beneficial system to the other Free countries, and you chinese communists have a hard time even spelling Fair and Free. You represent your master the devil, honored on your step balusters, while the United States people and country are persuaded by the Bible of the God of Abraham Isaac and Jacob.
So China invested in international trade infrastructure and built up a highly reliable ship building, maintenance and repair infrastructure for civilian ships. Meanwhile, the US prevented competition with the Jones act, and increasingly took over civilian infrastructure for military use. This doesn't sound like China is doing anything particularly wrong, they are just being commercially sensible, while the US set out to prove that being anti-competitive and militaristic is not a great way to grow a business sector.
Like the US Chip Act, Joe sign in 2022, China was a customer turn into competitor... and now export Microchips. Like the US Chip Act, China foresaw the shortages of sea container, equipment & ship... so they act. Turning a customer into a competitor is a bad business model.
I especially like the part about the ship repairs. All ships need to be repaired. The few US ship repair yards can barely keep up with maintenance for all of them USN warships, and are literally unwilling and unable to repair your ship for you even if you WANTED to pay for their expensive and slow repair jobs. Meanwhile Chinese shipyards will quickly and efficiently repair your ships at a low cost. And the conclusion from the US is ... this is all China's fault?
The US has the IRA act and subsidises, US industries. The US has also banned other countries from exporting manufacturing equipment (available to other countries), so fairness or lack of is not something the US has any right to complain about (the world sees it as hypocritical at best, hegemonic at worst).
Even without pro US legislation, I'm still confused as to how fairness is realavent here. In my view it's only fair that someone else picks up the slack that we have neglected. We left a big void and someone is filling it. That's on us! We want global dominance back after neglecting it for decades, and we can't even build or fix ships... now we whine and say that it's unfair? That's like spending decades eating nothing but doughnuts and becoming fat and lazy, only to complain that it's unfair our gym going neighbor is fit a d strong. We have nobody to blame but ourselves.
@numnut1516 totally agree. What I find interesting is that allegedly, the Chinese subsidise everything, yet the country has spent money on massive infrastructure projects, and is not running a massive defecit. (Still confused as to why a country would go into debt so another countries population could reap the benefits of their hard work).
We lose the right to complain about things like this when we intentionally offshored all of our industry in the name of cheap goods and higher profit margins. This is just the consequences of doing so biting us in the ass, as anyone with common sense saw coming decades ago.
@@pedtrog6443 Things might change when the only ones left spending money are the Oligarchs, who don't spend much. We shall see how this plays out in a year or so.
It was a concious decision by the US and other countries like Britain to divest themselves of heavy industry amd manufacturing back in the 80's and 90's. It was a short sighted political decisions made by the US and others to focus on building a highly skilled, high paying jobs economy to go along with their dominance in financial services. The Tech boom was starting to take off around the same period so you could understand some of their thinking, as the US led West were in a very advanced position on Information Technology by a very long way in those days, when compared to developing countries and the communist block. I think Ross Perot at the time warned them that it was a big mistake but no one really listened to him. They can blane China all they want, but it was the decision's made by the US government and it's corporate leaders that have led to this.
The name of the beast unleashed after 1975 is neoliberal economics. The Powell Memo corrupted the Supreme Court. Then Reagan & Thatcher unleashed it upon the US/UK and it seemed to work at the time, because huge new gov debt was propping up the economy. That spending inflated the stock market while the bottom 60% of Americans have been losing ground. China is winning because they prioritize people and production over profits. The US needs training, planning, production, better farm policy, new mines, new smelters, and a new way to finance all this stuff. Instead, a few companies and people will get rich while the average person works & struggles harder than ever.
It was a business decision, capital flowed were the gain was bigger. At the time UK and US faced competition on steel from other actors. Chinese government is not sensitive to market constraints
8:43 "... unfair competitive basis". " You have to be fair in the market and China's not being fair" As much as I love the relatively high standard of living here in the US, I can't figure out how China is being unfair. China has invested decades into creating an advantageous position for itself. How is that unfair? Trump would explain it as "winning...hugely", and he would be proud of it. The fact that US leaders have been asleep at the switch for decades makes China's hard and smart work unfair? The fact that they have a different system which allows them to do a lot of direct investment where they want to makes it unfair? When the US wanted to win WW2 our government made a direct investment in the Manhattan project. Was that unfair? What am I missing? Serious question, how is it unfair?
all chinese industry is subsidized by the communist party, where that industry has an unfair advantage due to an influx of money into that industry. They don't have to make money or even be competitive , they just have to undercut everyone else.. That's what makes it unfair
Capitalism requires that everyone be using the same set of rules, so they are competing on what is unique that they can bring to the table: their ideas, their culture, their resources, their location, their experience, their dedication. As you pointed, any country could subsidize their industries, but that would not be in the best interest of anyone since that is effectively lying about the ability of your market to trade competitively with other markets. If for some reason you stop the subsidies, like your government budget was having troubles, like China is right now, the price of shipping would skyrocket and could crash the whole global market you were distorting as a consequence. Then there are the geopolitical ramifications. Any single country having this power is a security concern for the entire world and is why we are discussing this. It grants China the power to crash economies and starve countries for any reason. Considering that China is ruled by an authoritarian dictatorship known for it's expansionist ambitions recently, that's a problem for everybody. It changes who has power in the world and can dictate what they want to do. Do you want China to decide they want to take over Taiwan and raise the price of semiconductors 10,000% for any product not manufactured in China while still raising the price by 5000% anyway? I would think not, unless you are working for the CCP and maybe were living in China, until US air strikes started.
Because in the business world you are not competing against Chinese business's. They are all backed by the government which is determined to see them [chinese business's] be the winners. You are in fact competing against the chinese government. And the Chinese also ignore all the rules they agree to, like the rules that govern the WTO.
The same rules does not work on everyone though. The west has decades of head start tx to colonization and exploitation of resources for centuries. To talk about fairness in competition that never exist is example of delusional. The nations that is still developing simply is unable to compete as they start from far behind the starting line up.@@KnightsWithoutATable
@@KnightsWithoutATable Right.... I get what you mean, we should be on an equal footing to compete fairly under capitalism... why do we need US to have an overwhelming capability to bomb everyone else into the stone ages? or the ability to use the Dollar system to sanction damage anyone it doesn't like? Do what I say but not what I do? Let's start with the only superpower that has proven to be the security concern and the same superpower than has not only crashed economies, but committed wanton murder and called it collateral damage. Ask the Japanese. Koreans, Cubans, Iranians, what Uncle Sam has done. I bet that's the reason why USA is paranoid. It thinks everyone acts like how it acts.
Love your channel, but calling out China for unfair shipbuilding practices like subsidies, cheap capital, and cheap labor feels a bit hypocritical when the USA engages in similar behavior. In other industries, the USA has distorted markets through direct subsidies and tax rebates, such as those included in the Inflation Reduction Act. The U.S. also leverages the dollar's status as the world’s reserve currency to its advantage and uses economic coercion, such as imposing tariffs and restricting trade The decision to stop building and crewing container ships in the U.S. was made for financial reasons. Blaming China for stepping in to meet global demand at a time when the US is unable and unwilling to do so is disingenuous
Hé is an American after all. Objectivity is not taught in US schools it’s all about the US being the greatest and freest country in the world. Until they realise that they’re nothing else than a mirage projected to the TV screen by Hollywood and Fake news.
The Chinese company Trump is referring to that owns two ports at either end of the Panama canal is called CK Hutchinson. This Hong Kong based but Cayman registered corporate vehicle is controlled by Hong Kong-Canadian Li Ka-Shing and has major US investors Blackrock, as well as German, Spanish and British investors. It is like calling HSBC a Chinese government controlled entity because it was founded and has operations in Hong Kong.
And his two sons are in Vancouver, BC and kick started the development of False Creek concrete high-rises, a kick in the arse Canada desperately needed. My son chlls with them. They're more Canadian than I am!!
Try and look at it from the Chinese point of view. China is a trading with the whole world and their cargo ships are traversing every day across the oceans. They need a strong navy to safeguard these ships from pirates and hostile nations. It is perfectly understandable that China is building up its navy.
Besides the fact that the chinese were poor decades ago. They had nothing. It is only now that they have the money to build a fleet, a modern fleet. Also a modern army with modern weapons and modern training. They had to catch up in building a modern army and defense. And yet with all these construction of ships and weaponry, their defense budget is still just a tenth of the american budget, even if america already had the most modern army.
Out of all other comments, yours is truly sensible, neutral, direct, fair and justified. China's only running legal cargo shipping, providing needy goods to so many countries instead of globetrotting with aircraft carriers which are NOT NECESSARY OR WELCOME. Why the US's ignored rebuilding the economy but kept spending foolishly on non-existent warfare is so irresponsible to their citizens. BTW, think this guy's been paid to smear China, so unprofessional, biased, dirty, arrogant and unscrupulous. Finally, the Chinese navy is designed to self-defend but this guy's turned it the other way around. The Chinese need to protect South China Sea coz they need oil (70%) from the Middle East. US Navy has been harassing that route until last year when China sent their 055 destroyer down to safeguard the region. Funny thing was the US used many countries first to test Chinese reaction, Vietnam, The Philippines, Canada and Australia. I live in Australia, shame that we can't get out of that awful AUKUS pact after WWII.
But we've been doing the same thing since 1980. The parties have taken turns doing the same stuff for 45 years. Identical twins have more differences between them.
As an analyst, I always find any analysis that concludes with "unreasonable" to be an absolute joke. I instantly hear a 5-year-old throwing a tantrum because it isn't "fair." I appreciate that you started the video by stating that this was made possible only due to the fact that the American foreign policy of the 90s and 2000s put no value on global shipping. There is no doubt that policy advisors were made aware of this possibility - if what you said is true, this was a foreseen outcome. Lastly, I wonder how political the Office of the Trade Representative is because this victim-framing of the US is next-level nonsense. But it's alright. If this makes it in front of the right eyes and becomes another speaking point for Vance, the director of that department will surely get a new office in Washington, DC. After all, speaking lies to power is the best way to get promoted.
Well said. 'Unreasonable' being possibly the most subjective word in English. Pandering and political posturing posing as objective analysis seems counterproductive.
What is the definition of unreasonable here? China obviously depends a lot on exports which means shipping stuff around along with all the things to make that possible. Rather than unreasonable isn't it just doing the obvious common sense thing? Also something missing at least from the video and maybe it is in the actual report but since the US pulled out and if China wasn't supposed to get into it then who was supposed to be the "correct" winner according to the US? The confusing thing here is that the US seems to be complaining about a race they aren't even participating in.
Most of these US complaints boil down to: The Chinese government is not allowed to take any action to develop its industries or else it is unfair. That take seems ridiculous to me. It is not their fault that the US government ignored the shipping industry for decades or that the US did not care to change its shipping policies since 1970. And now instead of focusing on catching up, the US wants to drag others down first?
Nice summary. Sun Tzu said all battles are won before they are fought. He understood that nation states are constantly at war. In the US we only define war as bullets flying and men dying. Without the means of dominating the logistics of a conflict, you lose. The US is the most vulnerable it has been in over 175 years.
Look at the RU/UA conflict; Logistics is the crux. The control/influence/insight into global logistics could be an initial phase in conquering all the major nations.
The issue isn't Panama's private affair. The US built the canal on the agreement that we would always operate it and be in control of it. Then the agreement was amended so that Panama would operate but it had to meet certain requirements which it fails to meet by having China move in. If Panama continues to not meet the terms of the agreement, the US can take the canal back.
The problem with having China in control of the canal is that it can limit all kinds of shipping including US military ships heading to the Pacific. It could allow its own military ships to come through to the Atlantic. In wartime, this is a very big deal. The Panama canal is a strategic weapon that the US created and maintains rights to. It cannot fall under the control of China.
@@jerseyshoredroneservices225 Please specify what part of the "agreement" (i.e., the Panama Canal Treaty of 1977) Panama is failing to meet. And what part of the Treaty allows the US to take the canal back.
It’s also unreasonable for US dollars to dominate the world trade. Why’d we have to use the dollar to settle the trade? We all can use our own currency or any preferred currency.
I think the blame should fall squarely on the USA's greedy business practices. Making fast money overnight has become our only priority. There is no plan for the future. Government planning is hindered by the flow of money to our politicians. We have only ourselves to blame.
You ALSO have greedy consumers that want things made with slave wages, which those greedy corporations gladly supplied. It's come home to roost now after ignoring the warning signs for DECADES.
@@dochi1958 American consumers ALSO cut their own jobs by purchasing cheaply made foreign goods, AND loosing their excellent work ethic. Plenty of blame to go around.
I find it rather funny that Europe and the US they complain about Chinese government industrial policy. Many European countries used to have forward looking industrial policies, helping key industries. Airbus would be not exist without the cooperation of EU governments. Industrial policy has waned since then due to the "Washington consensus" and its focus in free markets. The Chinese still have a coherent and forward looking industrial policy and the west should do the same instead of complaining about China all the time.
Honor them for their honoring the dragon, the devil, eh? And for their conquering their neighbors, and cutting out the vitals of thousands so can sell them. So you don't know the difference between right and wrong. The Almighty Creator has a message for you: Galatians 6: 7 kJV.
A great report. China is not stupid, they have studied very well what things are worth controlling and obviously shipping and ports are pretty good things to control. Thank you for keeping us well informed about shipping and in a way that keeps me glued until the end.
It is not possible to be a commercial shipping power if you have adversarial relationships with half the world, especially those who are the major producers and consumers of goods.. The British succeeded for as long as they were dominating the world as a colonial power and failed immediately after. For a reason. Commerce is based on having good, working relationships with as many countries as possible, or dominating large part of the world through colonial rule.. Colonialism is over, so.. The Chinese understand that and most of their efforts are based on diplomacy, investing in the countries they want on their side, building ports there etc. On the other hand America is threatening other countries to take away their infrastructure, even take territories away from.. the EU!!. The US simply doesn't get that and for that reason it will never be a major shipping power. You can't have your cake and eat it too. Build ships to do what? Trade with whom?
Chinese investment in countries is not as innocent as building relationships. Chinese investments come with long, strong strings attached. Speaking of how nice China is to everybody, have you asked the people in Taiwan, the Philippines or other neighboring countries? US Relations with Europe, Canada and most of South America are fine. The United States' annual trade in goods and services was over $7 trillion in 2022. The U.S. has a trade deficit of 2022: $-971.12 billion. We import almost a trillion more than we export so I think our relations with the rest of the world are pretty good.
@@jerseyshoredroneservices225 I know right? Remember when China overthrew the democratically elected government of the Phillipines to get control over their rich copper resources? Oh no wait, that was the US overthrowing the government of Chile and putting the dictator Pinochet in charge. Oh I remember, remember when China overthrew the democratically elected government of Malaysia so their buddies can continue to control all their oil fields. No, no wait I got it wrong again. That was the US overthrowing the democratically elected government of Iran and put the Shah in charge for a few decades just to cause an Islamic revolution that is continuing to blow up in our faces. Or was it the time China overthrew the government of Thailand and literally melted their democratically elected leader in a vat of acid and then put one of the vilest dictators in history in charge for 30 years so western corporate interests can continue to pillage that nation's resources. Ooop, that was the US again, doing Belgium a huge solid by overthrowing (and gruesomely murdering) the democratically elected leader of the Congo. I could write even more examples, but I'm tired of typing them all out at this moment. But sure, some Chinese loans with some strings attached are far far worse than America's track record of literally overthrowing governments, installing dictators, or just straight up invading one country after another on every continent for the past 100 years...
THIS IS IMPORTANT TO UNDERSTAND ABOUT CHINA"S MARITIME GOALS China is "for" the Chinese people and isn't going to reduce Maritime and economic development because the US is failing in this industry. The report highlights US failings, and as is typical, implies - projects - blame on China when they are not doing anything abnormal, but developing global trade supporting their industries and needs of the world. This report on China's targeting of global Maritime and shipping is pretty "shallow" and doesn't take into consideration the extensive development of trade between countries of the Global Majority, 85% of the world's population China works with. China's Maritime development in some ways is modeled after their "Maritime Silk Roads" dating back hundreds of years when they dominated the oceans in the East, and were the number 1 world power, not by military dominance, but by trade and economic development; soft power just as they are doing today. Their Maritime expansion corresponds with the creation of the "Belt and Road Initiative" (BRI) 10+ years ago, a new, contemporary variation of the ancient Maritime Silk Roads of the past. This initiative connects over 150 COUNTRIES worldwide including the BRICS nations, and other individual countries. Consider how extensive this is when there are a total of 193 countries in the United Nations. Nearly 75% of the world is connected to China's Maritime developments! Only the US, UK, Europe, and a few other countries are not participating. So it is not JUST CHINA, it is a multifaceted, collaboration between these countries. They all benefit, and have a stake in a form of "participatory economic development", all contributing to China's expansion of their Maritime capabilities. The US is left out of this because WE decided NOT TO PARTICIPATE. China never goes into a country unless invited, and they DO NOT control most of the ports that are part of the BRI. The other ports that they help manage are a result of COOPERATIVE AGREEMENTS with the host countries. If the US was a participant in the BRI, China would have made large investments in US port infrastructure to bring them up to standards for handling larger ships, including the necessary technology and automation. City/County owned ports would have access to supply chains never possible otherwise with significant financial gains., So far we have not seen any interest by Trump to help rectify our Maritime shortcomings. Like most of our talk about inadequate Maritime capabilities, there is insufficient political willpower, funding, and expertise to address the issues.
Every country has the right to minimise dependency on every other country. That applies equally to the US and for China. My concern is that the US will do it not by being better, but by using its power to force other countries to be worse.
So . . . Chinese planning and economy is kicking our butts? Our short-sighted focus on profits is counterproductive in the long run? What’s best for the shareholder isn’t necessarily what’s best for everybody else? Inconceivable!
The US had the opportunity to maintain its position, it chose to offshore. China is only doing what the US would do if it was in the same position (but by providing a good deal instead of threats and sanctions). The US should try lifting itself up, instead of threatening those that are better.
I wonder who really owns those last few publishers of textbooks. Every college seems to be using the exact same ones. There only a very few actual publishing conglomerates in control of everything our students learn.
Lol, but it is good to the capitalists. The oligarchs (or billionaires as they call them in the US) are happy as hell, rich as hell. All that coming from this outsourcing. Now they're putting the blame on foreign workers! The outsourced workers ar being f*ked way more than anyone else! The enemy is not them, but the capitalist overlords that are exploiting us all!
Ross Perot ws warning the USA about this back in the early 1990's. Americans thought he was a crazy Oldman nutcase and paid no attention to his warnings about the USA offshoring all its manufacturing jobs.
I got one question. Why is it a problem when China dominates the shipbuilding and related industries ?. It's not hurting global trade and Japan and Korea aren't worried about it.
Actually Japan and South Korea are worried, but they both understand they will never be able to compete with China. Furthermore, China is a critical source of raw materials and trade. Unfortunately for them they are both occupied countries and vassal states of the U.S. It's a balancing act, but eventually Japan and South Korea will have to decide whose side they are on. The better bet will be China.
Americans don't want to accept the reality that their century of domination as an empire is falling. Much like the 19th century belonged to the British. Americans can't believe that the 21st , May belong to somebody else.
It's a problem if you're American. Only we or our allies should be allowed to dominate these industries. This is especially important if we want the ability to enforce sanctions against some country.
why do international shipping not flag as US ship? as you mentioned, it because US government policy IS NOT FRIENDLY to these businesses. all these thing seem to be blaming China for what US: DID TO ITSELF. that's "unreasonable". also the claim that China corner the shipbuilding market against Korea and Japan made no sense, there is nothing stopping any country from using Korean or Japanese services, and these countries are both rich enough to offer their own financing. rather the reason they are not getting order is because of backlog. China being a much larger country simply has more shipyard. smaller shipyard in China are developing more capabilities to tackle more complex projects. all in all, what we are seeing is just open competition and US losing to open competition because of dumb ass policies. so why don't US just reverse those 'unreasonable' policies that is self-defeating?
For the US to reverse the process, it would have to abandon the neo-liberal free-market extremism that has been its dominant ideology since the Reagan era. Unfortunately, it's what the electorate has kept voting for over the decades since -- including with this new administration and the free-market extremist oligarchy that it has been given a mandate to establish.
@gotmilk91 Exactly. And we shouldn't forget the international bankers who control the U.S. economy and focus more on financial engineering and other smoke-and-mirror financial speculation than industrial output like China.
Sal, I think you're the best. However, China built its system on US dollars. To say they are treating us unfairly in the market place overlooks where 'we' spend our money. Let me put it this way, we don't spend money on shipping, healthcare, education or molecular research and have delayed infrastructure until recently. China doesn't spend money on military, subsidizing profit, elections or tax breaks to the ultra-wealthy. China is focused on results. We are focused on profit. The question isn't can we change, that's easy. It's will we change?
@@jerseyshoredroneservices225 They are not building a huge army, they've had a bigger army when they were poor. An army with obsolete weapons, ships and weaponry. It is only now that they are rich and can afford to modernize their army that they had a massive weaponry and equipment build up to catch up and be a modern army. And all these with a budget that is just a 10th of the US budget that is already the best equipped and modern army.
@@jerseyshoredroneservices225 China has to build a military. This video proves their point why they need a strong military - US is aggressive nation that is unreasonable and unfair and does not look at itself for its own failures.
@@rap3208 I didn't say army I said military. They've been building lots of ICBMs, stealth airplanes and gazillions of military ships. The Army hasn't been stalled either. They keep making more and more short and medium range missiles to attack Taiwan.
Isn’t this the inevitable result of the Reagan era divestment of responsibility for all strategic infrastructure (e.g. rail, road, shipping, etc) and the idea that the market will somehow provide it ‘efficiently’ (ie outsource/offshore to the cheapest provider).
A fair free market? You’re joking right. Is it fair to have a currency that is the global reserve? China made strategic decisions, like government investments into industries. We can see government investment outcompeting “free” market real time but we make excuses and call it unfair. Our market system and corporate corruption is not efficient. Let’s call it that. We could subsidize and massively increase re-industrialization. We could lower interest rates for certain industries or give better tax rates to certain industries. Instead we get lobbying, bs regulation that is bought by corporations to give a competitive cocoon, and sending the labor abroad to help the bottom line. No it doesn’t make strategic sense. But for the few wealthy people in power, it is a very profitable deal. For that reason it will never change.
It also will never change because it's what the electorate keeps voting for, ever since Reagan. Even now, with the new administration and the oligarchy it has established.
Is it anymore unreasonable than the USA's playbook across a range of areas from finance, to the Swift payment system to arbitrary sanctions? Who made the USA the head boy anyway?
Everything in this report and what you've discussed seems to suggest something underhanded or unfair has occured, but this is all the result of legimitate strategic business practice in a free market economy - also know as capitism which America basically founded. So much coping here! Wow
Back in the early 1970s, I started travelling and saw the start of containers in use and the US was very powerful then. Nothing prevented the US from carrying the process of manufacturing these TEUs, modernizing shipbuilding and ports for commercial interests. But, as you mention, military interests took precedence as President Eisenhower stated. And, of course, criminal interests were involved. That's about fifty years of ignoring the issue. Corporate and labor concerns have hindered modernization. Even at the turn of this century could have mitigated the present situation. America's leadership has been compromised and is a failure. Joe Blow's like me and others probably have seen this coming but we don't have influence and all we can do is shrug our shoulders and shake our heads at the mess.
You pin pointed the issue: Modernization Today Chinese build port worldwide like that of Chancay Port in Peru can handle a 25,000 TEUs ship Unload/load in 8 hours with 127 operator include trucking compare to USA. Proof: China Builds The World's Largest Fully Automated 5G Port, Only 120 staff are needed since 2010 24/7. ruclips.net/video/XZIbLBcE0OM/видео.html China is EXPORTING this technology worldwide.
Wow I had no interest in maritime shipping of any kind. Commercial military crobley until I started watching this channel. It's like I've grown a second brain when it comes to shipping. And trade. You are amazing. Thank you very much. !!
The CCP is definitely better at bribery, coercion, control and self-dealing. Absolute masters of the afore-mentioned in fact. They also gladly use all useful-idiots to the detriment of anyone and everyone who is not the CCP and in the last 10+ years that is embodied in a single person: xi jinping
@@jennyohara4011 Unfortunately the US chose to sabotage the WTO a long time ago, so it's not likely to get very far with that. Not that the WTO was ever a strong organisation, of course.
The rules based order is dead. You want it , you have the guns and numbers, just take it. Putin is doing it, Trump is saying he’s gonna do it, so everyone that can will. WTO lol.
As a Chinese who subscribed this channel for a while, I want to say something. The incompetence of US keeping it's educated worker and full supply chain is well known across the world, it's not like China put US in an unfair competition or something. At first US companies outsourcing its job to the world, then the workers got no money, so no buying product, which makes the margins lower, then the US companies had to reduce the cost and outsourcing more, then more job loss and supply chain removed, and this never ends without US and its people finally woke up and change. The WallStreet and big tech, MIC are the real problem here, they abandoned hard working US worker family.
Sal, When I left school in 1975, Japan was the leader in shipbuilding and ship repair. They were a dominant player when it came to operations. By the mid-90s, there was no doubt Korea's big three, Hyundai (HHI), Samsung, and Daewoo (DSME), were leading when it came to shipbuilding and repairs. By 2005, the move was underway when it came to shipbuilding and repair. I assume the same is true for operations. It is hard to predict who the next 'leader' will be. One thing is certain, it is very capital intensive to stay on top of the shipping pyramid. The big question is how long will China want to stay on top. Bob
China expand its shipping due to exorbitant charges by foreign carriers. Didn't BYD has its own cargo ships just so they can control the costs and timeliness?
The last we heard from the striking port union on the east coast was that they were against automation of the ports. China makes their ports super effective by automaton 🙂
The U.S. regiment from both sides of the aisle did not divest from the 800+ known military bases around the world; what positive / negative impact on humanity because of this?
@@MerchantMarineGuy Truth hurts, man! Try to refute it, refute the 800 military bases around the world, that's a trillion a year expense man. Imagine if it was used building your infrastructures that are falling apart, or perhaps build new ones.
Perhaps if the US hadn't forced the UK to dismantle its empire with such haste. Both countries might be in stronger positions individually and collectively vi's a vi's trade, logistics and associated infrastructure.
I think it's unlikely the US will respond with constructive investment. It'll be sanctions and other coercive measures or nothing. I suppose we should consider ourselves lucky that China doesn't use its maritime dominance as maliciously as the US does its influence over the semiconductor arena.
The difference here is that in addition to some light complaining, the Chinese are also putting their heads down and working hard to, you know, do something about their semiconductor gap to the US, and most likely in a few years, they'll have at least caught up a lot on that sector and getting a start to becoming self reliant on making chips themselves. Meanwhile the US is just gonna keep bitching about this shipping issue but will do NOTHING other than bitching about it.
there is only one thing I cant understand, anyone can explain it to me? so many people always talk about "unfair subsidy“, and it seems to me that China is doing this to a hell lot of industries, EV, new energy, ship building, everyday goods production, essentially any industry in China is subsidized. the problem is, where Chinese government get those money to do this? and if they are actually doing it, why its bad to let Chinese people's tax money to pay a good part of essentially anything you buy ?
@ you are not answering the question, just repeating "subsidy" "low wages" and things like that. or the result dominance. the question is how can anyone do that.
Doesn’t Trump get all his flea market goods from China? Hats , shoes, bibles , tee shirts, watches , guitars, cologne, shot glasses, liquor and his printed material for Trump University . He has a Trump Hotel in China too . I really don’t understand his beef with China.
This same thing could be said for and applied to a lot more of Americas industry besides the shipping or ship building sector! We are not only loosing products being made in this country, but we are loosing a lot of the engineering and production skills to China, and that is it is showing itself more and more in the quality of people you try to secure for the jobs that are left here! Changes need to be made, we need to put a stop to companies sending our manufacturing, engineering, and management skills overseas to other countries! Bring back those skills and work to this country, those skills and manufacturing practices may be need in this country if we ever were to get in a conflict with another country!
In Summary: the US didn't shoot itself in it's proverbial feet, when it de industrialized in the 80's and 90's, it shot itself in the head and now without the Brains to realize WTF happened, it uses its old playbook of blaming everyone else in particular the underdog who now has top raning in every sector, whether it be shipping, trade, technology, military power, smart phone computer or vehicle production, the US lost it's way after it ripped the heart out of it's economy, through de-industrialization which lost it's ability to innervate and improve and develop exponentially as China and Russia have over the last 30 years. US intelligence has been left to the CIA, which is a brain dead corrupt, grouping of Neo-cons, Idiots & Oligarchs, pushing the US into endless conflicts after organizing and carrying out 911 along with the pentagon to create The Perpetual war of Terror, rather than developing infrastructure, Cutting edge technologies and associated Industries. Wasting tens of Trillions on wars conflict and sanctioning other nations rather developing a better economy. Neoliberals, Neocons and successive corrupt administrations have ruined the USA. There is hope, just as Putin has pulled the Russian federation out of the absolute ruins of the collapsed Toxic mess that was the Soviet Union and made the russian federation into a world leader Economically, Politically, Technologically and with Infrastructure and technology deveplopment within the BRICS and BRI framework that will pay devlopment dividends for many Decades if not centuries to come, along with China and other BRICS+ allied countries following the same formula. Trump has to realize that the world has changed, it is dominated by the 152 countries allied with BRICS+, the so called Multipolar world, which the US can be a part of but not a dominating factor, just a part of it on an equal footing with it's peers. BRICS+ is the biggest and best thing to happen to the economic development of the world, in history. The US can play a part in it or sit on the side lines and throw insults to show how great it isn't, the choice is in trumps hands.
"Fair" is just a counrty carnival. This trade deficit is well described by two classic economist, Robert Gresham and Richard Cantillon, they describe this in Gresham's Law and the Cantillon Effect. Its a natural cyclical economic phase fueled by the human nature of instant gratification vs saving and producing. Thanks Sal
US is at least 20 years behind China in almost every industry. It tries to blame China for its own backward political system. Its justice system is now a joke of the world and can be compared to some of the poorest countries in Asia and Africa. It legislative system does very little other that quibble over things that no bearing to 90% of its citizens. Its executive branch is now run by old old men from a past century with no clue about the changing world. Its government is the same its car industry as it used to be. But it has most of the billionaires of the world and lots of angry citizens whose focus is China.
Nearly 40 years ago a Chinese delegation were visiting a commercial bank in Europe where my wife worked. During the conversation the senior banker asked "what are you after". The Chinese said the ports! If the politicians have not figured it out yet we need better informed politicians. They want all the shipping and the ports to go with it. Wake up America!
Chinese buyers need willing sellers. The politicians didn't stand in the way of US companies out sourcing labor and supply chains.. The politicians are owned, so don't blame the puppet. Blame the puppeteer, the rich owning class. We are waking up to the fact that a communist country, not as bound to quarterly earnings and profit, can do it cheaper and better when capitalists sell them the ability to do so.
I never liked the term 'mindfulness' either @@yeetube-ghostedMoose but I agree that we ought to pay attention to our surroundings and be aware of the situation we are in. Chinese buyers need willing sellers after all
Found your site when the Francis Scott Key bridge was hit. Have learned what Made in China really means. Global dominance will not happen with weapons was once predicted - you're certainly bringing a piece of that puzzle to light. Thanks for your enlightening reporting.👍
For the past 5000 years, China has been the absolute military, economic, and cultural leader for the vast majority of the time. It's normal for them to return to the first place. Why are there any doubts?
Way OT, but topics I hope Sal gets back to: Are we seeing continued shipments of US weapons or other support to Ukraine? How have (or are) said shipments effected (without going into classified details or too far into any clandestine ops!) Ie., how do we get this stuff there? Enforcement of the latest sanctions on Russia (largely but not entirely dependent on the US) -- EU tracking of Russian ships would be interesting if happening. How much of that could be done by seagoing / marine drones? NATO or EU efforts to protect(?) undersea cable and such? Again, how much of that could be done by seagoing / marine drones? Might be a good topic for Ward, too...
The USA Army has the Worlds largest maritime shipping logistics center built in WW1 and extensively used in WWII located in New York City which is mostly empty today.
Although I'm not in agreement with you, but I must say that it's people like you are the ones that should be guiding our government and your passion for maritime administration is very impressive. In the next election cycle you should run for office the country needs you.
In preparing for (and avoiding) conflict one must consider one’s opponent’s capabilities over intentions. If China has the capacity to severely disrupt our economy then we must assume they plan to do so, and we must be prepared to cope or fail. We can already see China’s willingness to exercise maritime muscle in the Soith China Sea.
Lets point a similar mirror at the US: US targeting of the international financial system for dominance is unfair. It increases risk and reduces monetary policy resilience. It is unreasonable because it not only acts extrajudicially, it seeks control over financial actors within and without the US dominated financial system.
Just heard some dude by the name of Uncle Sam in our neighborhood, complaining about his wife not getting pregnant because the guys living next door to his house are NOT helping out in getting his wife pregnant.
Well Sal, I commissioned a similar study to explain to my parents why my grades in school were so bad. The report concluded that the presence of students who worked harder, longer, smarter and were focused on doing well in school UNFAIRLY influenced the evaluation of my teachers. And the teachers would not take bribes. Big red flag, or hat.
*ahem* .... The CCP do indeed hand out bribes. and "your teachers" are indeed prime recipients of said bribes. Your mischaracterization of the situation is informative.
@@phlogistanjones2722 how would you know? are you Chinese or do you live in a small country in the “Middle East”?
@@phlogistanjones2722 Yes China is just better at real business than the USA. No contest really.
@@phlogistanjones2722 are they legal bribes as in the US, or just bribes?
am not a bot, and i do it for free.
@@222aint yes, my friend daughter 10 years+ applied Singapore Asean Scholarship & managed to admit to CHIJ secondary one. She was one year wasted in Malaysia secondary One. Her application results standard were at Secondary One but English standard was primary 4. She need to take extra tuitions classes. After 6 to 8 months, her English language standard quickly catch up with the other subjects. At year end final results, she was top student of the entire Secondary One!
Another year plus later, one Chinese student joined the school at Secondary Three & with several months the Chinese who studied even more harder emerged as top student!
Alright, first I would like to point out. Is it really the Chinese fault for their "dominance"? It sounds like the US and others gave up and sold the rights to the ports. And the Chinese are building affordable and quality ships. As we have seen by the refusal of selling an American Steel company and the absurd attempt to force a 50% shareholding of TikTok by the US. The US and others could have stopped the Chinese acquisition of ports and ship building. Who allowed these things to happen? This whole thing is utter nonsense. If you want to compete and retain control. Then don't take money from the Chinese and don't give up control. It is that simple. The US and others have done this in the past. This is like that stupid troup, China is stealing our jobs. No it was American firms who moved their manufacturing, production, and so on. That cut jobs in America. China is stealing our technology. Another utterly laughable nonsense. The US firms made agreements to come to China. One of those was technology transfers. It was these firms who agreed to do this. China did not send gun boats or put guns to the heads of the Executives. And this report sounds a lot like the nonsense I just covered. It's like if I were to sell you something and later said I was forced or cheated. When nothing other than I sold it of my own free will. Key words are free will. I have not listened all the way through this video yet, but I am a bit annoyed.
The U.S. cannot compete. The Chinese own the whole supply chain (raw materials to finished materials) and are now focusing on the value chain (design, engineering, etc...) for end-to-end dominance. The Oligarchs sold out the U.S. because of "globalization" which was nothing more than a way to funnel more money into their greedy hands.
You make sound points, yet sense an omission. I encourage you to look at corruption, both at a local, social level and then political level in China. Historically too. Theft is quite standard - laws are not enforced unless it's to save face or make a point. Theft of technologies US companies never offered in transfer. Patents and copyrights not respected, and a quasi world militia of agents in quiet US neighborhood homes who intimidate Chinese émigrés. You make sense in what you say, just not the whole story.
@@PeterTheVald From Assange & Snowden,we all know who is the thief !
@@PeterTheVald You've got to be kidding to even try to compare corruption and theft between what happens in Washington DC and Beijing. You're way out of your dept and turning too many blind eyes towards the shenanigans that happen in western governance. If you dare not call the Tik Tok legislation pure theft , then that's the reason why we're heading towards ww3 !!!
@@PeterTheValdjust read the same thing, almost word-for-word in the Jeru Post. Guess it/you haven’t developed a response to Sal’s comments on the US “divesting itself of global shipping”….
"Unreasonable" is a very unreasonable term. I would think that these actions are entirely reasonable from the Chinese point of view. What's unreasonable is that we have allowed our shipping industry to wither despite our strategic interests and national security. I'm all for free trade and taking advantage of comparative advantage, but you have to think and act strategically.
What really unreasonable is the US currency dominance,
plus the military dominance. While you have time to complain about others dominance in your daily supply, other people wake up day by day to carry out works to fulfil those things. Easy money printing, easy life enjoyment, and easier complaining!
America, the Land of Wither
How dare you suggest that any1 is entitled to free trade other than the US, who blocks 50% of the planets basic necessities from being freely traded 🤪
Meanwhile, the new president has been the most strategic politician ever. I think he's committed to the status quo.
@@georgechang6299. Because there is a right and a wrong, and the United States of America has been working it's power in a more beneficial system to the other Free countries, and you chinese communists have a hard time even spelling Fair and Free. You represent your master the devil, honored on your step balusters, while the United States people and country are persuaded by the Bible of the God of Abraham Isaac and Jacob.
So China invested in international trade infrastructure and built up a highly reliable ship building, maintenance and repair infrastructure for civilian ships. Meanwhile, the US prevented competition with the Jones act, and increasingly took over civilian infrastructure for military use.
This doesn't sound like China is doing anything particularly wrong, they are just being commercially sensible, while the US set out to prove that being anti-competitive and militaristic is not a great way to grow a business sector.
You are a Chinese bot
Like the US Chip Act, Joe sign in 2022, China was a customer turn into competitor... and now export Microchips.
Like the US Chip Act, China foresaw the shortages of sea container, equipment & ship... so they act.
Turning a customer into a competitor is a bad business model.
well said. also it sounds to me like the amerikans can't play with big boy China. lol
oh dear! Yankees is throwing tantrums sgain
I especially like the part about the ship repairs. All ships need to be repaired. The few US ship repair yards can barely keep up with maintenance for all of them USN warships, and are literally unwilling and unable to repair your ship for you even if you WANTED to pay for their expensive and slow repair jobs. Meanwhile Chinese shipyards will quickly and efficiently repair your ships at a low cost. And the conclusion from the US is ... this is all China's fault?
The US has the IRA act and subsidises, US industries. The US has also banned other countries from exporting manufacturing equipment (available to other countries), so fairness or lack of is not something the US has any right to complain about (the world sees it as hypocritical at best, hegemonic at worst).
Exactly! However, most people just blindly believe Sal’s diatribe. Idiots 🤔
Even without pro US legislation, I'm still confused as to how fairness is realavent here. In my view it's only fair that someone else picks up the slack that we have neglected. We left a big void and someone is filling it. That's on us!
We want global dominance back after neglecting it for decades, and we can't even build or fix ships... now we whine and say that it's unfair? That's like spending decades eating nothing but doughnuts and becoming fat and lazy, only to complain that it's unfair our gym going neighbor is fit a d strong. We have nobody to blame but ourselves.
@numnut1516 totally agree. What I find interesting is that allegedly, the Chinese subsidise everything, yet the country has spent money on massive infrastructure projects, and is not running a massive defecit. (Still confused as to why a country would go into debt so another countries population could reap the benefits of their hard work).
We lose the right to complain about things like this when we intentionally offshored all of our industry in the name of cheap goods and higher profit margins. This is just the consequences of doing so biting us in the ass, as anyone with common sense saw coming decades ago.
Don’t forget to look in the mirror and thank yourself for enjoying all the bargains.
Absolutely!
I STILL try and purchase USA made goods when possible.
It's difficult but not impossible.
That's a bit of a snarky comment. The general population doesn't get much of a say in corporate decisions.
I didn’t make that choice I wasn’t even alive let alone in a position of power so don’t put the blame on me.
@@pedtrog6443
Things might change when the only ones left spending money are the Oligarchs, who don't spend much.
We shall see how this plays out in a year or so.
It was a concious decision by the US and other countries like Britain to divest themselves of heavy industry amd manufacturing back in the 80's and 90's. It was a short sighted political decisions made by the US and others to focus on building a highly skilled, high paying jobs economy to go along with their dominance in financial services. The Tech boom was starting to take off around the same period so you could understand some of their thinking, as the US led West were in a very advanced position on Information Technology by a very long way in those days, when compared to developing countries and the communist block. I think Ross Perot at the time warned them that it was a big mistake but no one really listened to him. They can blane China all they want, but it was the decision's made by the US government and it's corporate leaders that have led to this.
You have identified the cause of the present situation.
Agreed.
The name of the beast unleashed after 1975 is neoliberal economics. The Powell Memo corrupted the Supreme Court. Then Reagan & Thatcher unleashed it upon the US/UK and it seemed to work at the time, because huge new gov debt was propping up the economy. That spending inflated the stock market while the bottom 60% of Americans have been losing ground. China is winning because they prioritize people and production over profits. The US needs training, planning, production, better farm policy, new mines, new smelters, and a new way to finance all this stuff. Instead, a few companies and people will get rich while the average person works & struggles harder than ever.
It was a business decision, capital flowed were the gain was bigger. At the time UK and US faced competition on steel from other actors. Chinese government is not sensitive to market constraints
8:43 "... unfair competitive basis". " You have to be fair in the market and China's not being fair"
As much as I love the relatively high standard of living here in the US, I can't figure out how China is being unfair. China has invested decades into creating an advantageous position for itself. How is that unfair? Trump would explain it as "winning...hugely", and he would be proud of it.
The fact that US leaders have been asleep at the switch for decades makes China's hard and smart work unfair?
The fact that they have a different system which allows them to do a lot of direct investment where they want to makes it unfair?
When the US wanted to win WW2 our government made a direct investment in the Manhattan project. Was that unfair?
What am I missing?
Serious question, how is it unfair?
all chinese industry is subsidized by the communist party, where that industry has an unfair advantage due to an influx of money into that industry. They don't have to make money or even be competitive , they just have to undercut everyone else.. That's what makes it unfair
Capitalism requires that everyone be using the same set of rules, so they are competing on what is unique that they can bring to the table: their ideas, their culture, their resources, their location, their experience, their dedication. As you pointed, any country could subsidize their industries, but that would not be in the best interest of anyone since that is effectively lying about the ability of your market to trade competitively with other markets. If for some reason you stop the subsidies, like your government budget was having troubles, like China is right now, the price of shipping would skyrocket and could crash the whole global market you were distorting as a consequence.
Then there are the geopolitical ramifications. Any single country having this power is a security concern for the entire world and is why we are discussing this. It grants China the power to crash economies and starve countries for any reason. Considering that China is ruled by an authoritarian dictatorship known for it's expansionist ambitions recently, that's a problem for everybody. It changes who has power in the world and can dictate what they want to do. Do you want China to decide they want to take over Taiwan and raise the price of semiconductors 10,000% for any product not manufactured in China while still raising the price by 5000% anyway? I would think not, unless you are working for the CCP and maybe were living in China, until US air strikes started.
Because in the business world you are not competing against Chinese business's. They are all backed by the government which is determined to see them [chinese business's] be the winners. You are in fact competing against the chinese government. And the Chinese also ignore all the rules they agree to, like the rules that govern the WTO.
The same rules does not work on everyone though. The west has decades of head start tx to colonization and exploitation of resources for centuries. To talk about fairness in competition that never exist is example of delusional.
The nations that is still developing simply is unable to compete as they start from far behind the starting line up.@@KnightsWithoutATable
@@KnightsWithoutATable Right.... I get what you mean, we should be on an equal footing to compete fairly under capitalism... why do we need US to have an overwhelming capability to bomb everyone else into the stone ages? or the ability to use the Dollar system to sanction damage anyone it doesn't like? Do what I say but not what I do? Let's start with the only superpower that has proven to be the security concern and the same superpower than has not only crashed economies, but committed wanton murder and called it collateral damage. Ask the Japanese. Koreans, Cubans, Iranians, what Uncle Sam has done. I bet that's the reason why USA is paranoid. It thinks everyone acts like how it acts.
Love your channel, but calling out China for unfair shipbuilding practices like subsidies, cheap capital, and cheap labor feels a bit hypocritical when the USA engages in similar behavior. In other industries, the USA has distorted markets through direct subsidies and tax rebates, such as those included in the Inflation Reduction Act. The U.S. also leverages the dollar's status as the world’s reserve currency to its advantage and uses economic coercion, such as imposing tariffs and restricting trade
The decision to stop building and crewing container ships in the U.S. was made for financial reasons. Blaming China for stepping in to meet global demand at a time when the US is unable and unwilling to do so is disingenuous
Hé is an American after all. Objectivity is not taught in US schools it’s all about the US being the greatest and freest country in the world. Until they realise that they’re nothing else than a mirage projected to the TV screen by Hollywood and Fake news.
While US hypocrisy doesn't justify Chinese actions, I agree
Couldn't agree more. Typical USA hypocrisy and double morals
Spot on
🎯
The Chinese company Trump is referring to that owns two ports at either end of the Panama canal is called CK Hutchinson. This Hong Kong based but Cayman registered corporate vehicle is controlled by Hong Kong-Canadian Li Ka-Shing and has major US investors Blackrock, as well as German, Spanish and British investors. It is like calling HSBC a Chinese government controlled entity because it was founded and has operations in Hong Kong.
And his two sons are in Vancouver, BC and kick started the development of False Creek concrete high-rises, a kick in the arse Canada desperately needed. My son chlls with them. They're more Canadian than I am!!
Sounds like Li Ka Ching knows how to ring that cash register!
Things changed in Hong Kong.
Sounds like all investors are ccp. Especially Blackrock.
@@farallimacha land-o-goshen !!
Try and look at it from the Chinese point of view. China is a trading with the whole world and their cargo ships are traversing every day across the oceans. They need a strong navy to safeguard these ships from pirates and hostile nations. It is perfectly understandable that China is building up its navy.
Besides the fact that the chinese were poor decades ago. They had nothing. It is only now that they have the money to build a fleet, a modern fleet. Also a modern army with modern weapons and modern training. They had to catch up in building a modern army and defense. And yet with all these construction of ships and weaponry, their defense budget is still just a tenth of the american budget, even if america already had the most modern army.
Out of all other comments, yours is truly sensible, neutral, direct, fair and justified. China's only running legal cargo shipping, providing needy goods to so many countries instead of globetrotting with aircraft carriers which are NOT NECESSARY OR WELCOME. Why the US's ignored rebuilding the economy but kept spending foolishly on non-existent warfare is so irresponsible to their citizens. BTW, think this guy's been paid to smear China, so unprofessional, biased, dirty, arrogant and unscrupulous. Finally, the Chinese navy is designed to self-defend but this guy's turned it the other way around. The Chinese need to protect South China Sea coz they need oil (70%) from the Middle East. US Navy has been harassing that route until last year when China sent their 055 destroyer down to safeguard the region. Funny thing was the US used many countries first to test Chinese reaction, Vietnam, The Philippines, Canada and Australia. I live in Australia, shame that we can't get out of that awful AUKUS pact after WWII.
@@rap3208 The US keeps 800 bases in 80 countrys with a $ money hungry $ corrupt military monster.
@@spaceinvader384 Aircraft carriers have one use only, to shorten the distance for the bomb delivery.
If you really think that's why China is building up their navy, you have no idea how China operates.
Our long term planning in the usa is to do the opposite of the last elderly guy every 4 years. Embarrassing
Yep, it's always simpletons struggling for power.
And sometimes the horizon is 3 months.... driven by shareholder value...self inflicted
@@phil20_20
Pork belly futures! 🙀
But we've been doing the same thing since 1980. The parties have taken turns doing the same stuff for 45 years. Identical twins have more differences between them.
you handed government over to the capitalists responsible for this...gratz.
As an analyst, I always find any analysis that concludes with "unreasonable" to be an absolute joke. I instantly hear a 5-year-old throwing a tantrum because it isn't "fair." I appreciate that you started the video by stating that this was made possible only due to the fact that the American foreign policy of the 90s and 2000s put no value on global shipping. There is no doubt that policy advisors were made aware of this possibility - if what you said is true, this was a foreseen outcome.
Lastly, I wonder how political the Office of the Trade Representative is because this victim-framing of the US is next-level nonsense. But it's alright. If this makes it in front of the right eyes and becomes another speaking point for Vance, the director of that department will surely get a new office in Washington, DC. After all, speaking lies to power is the best way to get promoted.
Well said. 'Unreasonable' being possibly the most subjective word in English. Pandering and political posturing posing as objective analysis seems counterproductive.
What is the definition of unreasonable here? China obviously depends a lot on exports which means shipping stuff around along with all the things to make that possible. Rather than unreasonable isn't it just doing the obvious common sense thing?
Also something missing at least from the video and maybe it is in the actual report but since the US pulled out and if China wasn't supposed to get into it then who was supposed to be the "correct" winner according to the US? The confusing thing here is that the US seems to be complaining about a race they aren't even participating in.
China's system of governance forces those in office all the way down the line to put China's interests first in order to get promoted.
US also still expects to get the Gold medal without competing - Entitlement!
Tptally agreed that 👍👍👍👍👍
This!
The U.S. paid for that race, so I'm not sure where that fits into your formula.
What US subsidies to the chip industry, financial industry during sub-prime fiasco. There are many more.
Next subsidy is AI
Most of these US complaints boil down to: The Chinese government is not allowed to take any action to develop its industries or else it is unfair. That take seems ridiculous to me.
It is not their fault that the US government ignored the shipping industry for decades or that the US did not care to change its shipping policies since 1970. And now instead of focusing on catching up, the US wants to drag others down first?
I think our not doing something is unfair, not that the PRC’s doing something is unfair.
The US created a void. China saw an opportunity and filled it. Doesn’t seem “unreasonable” to me. Seems like good business sense.
The US was never in the same position China is in today. They didn’t have the control chinas has.
Nice summary. Sun Tzu said all battles are won before they are fought. He understood that nation states are constantly at war. In the US we only define war as bullets flying and men dying. Without the means of dominating the logistics of a conflict, you lose. The US is the most vulnerable it has been in over 175 years.
Superb succinct analysis. Spot on!👍
Look at the RU/UA conflict; Logistics is the crux.
The control/influence/insight into global logistics could be an initial phase in conquering all the major nations.
And its America that has done that to itself!
I’m pretty sure Sun Tzu never said that. But he did said ’Know yourself and know your enemy, and you will never be defeated.’
Good thing we are handing the Treasury to oligarchs. I'm sure they need their tax cuts
if it doesn't come from the usa, it's always unreasonable
What is the problem with China in Panama? Why are we interfering in Panama's private affairs?
USA is Nazi
The issue isn't Panama's private affair. The US built the canal on the agreement that we would always operate it and be in control of it. Then the agreement was amended so that Panama would operate but it had to meet certain requirements which it fails to meet by having China move in. If Panama continues to not meet the terms of the agreement, the US can take the canal back.
The problem with having China in control of the canal is that it can limit all kinds of shipping including US military ships heading to the Pacific. It could allow its own military ships to come through to the Atlantic. In wartime, this is a very big deal. The Panama canal is a strategic weapon that the US created and maintains rights to. It cannot fall under the control of China.
@@jerseyshoredroneservices225 Please specify what part of the "agreement" (i.e., the Panama Canal Treaty of 1977) Panama is failing to meet. And what part of the Treaty allows the US to take the canal back.
@@jerseyshoredroneservices225 you mean snatch it back ？
It’s also unreasonable for US dollars to dominate the world trade. Why’d we have to use the dollar to settle the trade? We all can use our own currency or any preferred currency.
Nobody wants your currency.
👍👍👍👍👍
US can create Money out from thin Air ! It is “unreasonable” to ask US workers to work as hard as their
Chinese counterparts !
@@chopinmack5418 : 🤣🤣🤣👍👍👍
Having a currency everyone could rely on allowed world trade to occur.
Brought 2 billion out of poverty since WW2.
I think the blame should fall squarely on the USA's greedy business practices. Making fast money overnight has become our only priority. There is no plan for the future. Government planning is hindered by the flow of money to our politicians. We have only ourselves to blame.
You ALSO have greedy consumers that want things made with slave wages, which those greedy corporations gladly supplied.
It's come home to roost now after ignoring the warning signs for DECADES.
Exactly!!
Absolutely, we blew it and are now blaming China. This argument is used against every sector where China has excelled.
@@dochi1958
American consumers ALSO cut their own jobs by purchasing cheaply made foreign goods, AND loosing their excellent work ethic.
Plenty of blame to go around.
@@blaydCAconsumers are trying to save money, stop blaming a nation where half of the people are One missed paycheck away from financial Armageddon.
I find it rather funny that Europe and the US they complain about Chinese government industrial policy. Many European countries used to have forward looking industrial policies, helping key industries. Airbus would be not exist without the cooperation of EU governments. Industrial policy has waned since then due to the "Washington consensus" and its focus in free markets. The Chinese still have a coherent and forward looking industrial policy and the west should do the same instead of complaining about China all the time.
So true, not to mention going to war for so long based on proven lies. US only has itself to blame.
bingo
they still do it, space tech, AI, even the Jones act mentioned in this video.
Love how Americans are completely happy to have monopolies across most major industries but as soon as someone else does it they cry “unfair!”
You are a Chinese bot
That's how it works. Welcome to the real world.
Give me a short list of the top monopolies.
Hats Off to China!
😅
We'll be dominant in crypto coins.
Honor them for their honoring the dragon, the devil, eh?
And for their conquering their neighbors, and cutting out the vitals of thousands so can sell them. So you don't know the difference between right and wrong.
The Almighty Creator has a message for you:
Galatians 6: 7 kJV.
@@senatorjosephmccarthy2720
There is no god. You are a god botherer.
A great report. China is not stupid, they have studied very well what things are worth controlling and obviously shipping and ports are pretty good things to control. Thank you for keeping us well informed about shipping and in a way that keeps me glued until the end.
It is not possible to be a commercial shipping power if you have adversarial relationships with half the world, especially those who are the major producers and consumers of goods.. The British succeeded for as long as they were dominating the world as a colonial power and failed immediately after. For a reason. Commerce is based on having good, working relationships with as many countries as possible, or dominating large part of the world through colonial rule.. Colonialism is over, so..
The Chinese understand that and most of their efforts are based on diplomacy, investing in the countries they want on their side, building ports there etc. On the other hand America is threatening other countries to take away their infrastructure, even take territories away from.. the EU!!. The US simply doesn't get that and for that reason it will never be a major shipping power. You can't have your cake and eat it too.
Build ships to do what? Trade with whom?
Chinese investment in countries is not as innocent as building relationships. Chinese investments come with long, strong strings attached.
Speaking of how nice China is to everybody, have you asked the people in Taiwan, the Philippines or other neighboring countries?
US Relations with Europe, Canada and most of South America are fine.
The United States' annual trade in goods and services was over $7 trillion in 2022. The U.S. has a trade deficit of
2022: $-971.12 billion.
We import almost a trillion more than we export so I think our relations with the rest of the world are pretty good.
America is far far worse at those things@@jerseyshoredroneservices225
@@jerseyshoredroneservices225 I know right? Remember when China overthrew the democratically elected government of the Phillipines to get control over their rich copper resources? Oh no wait, that was the US overthrowing the government of Chile and putting the dictator Pinochet in charge. Oh I remember, remember when China overthrew the democratically elected government of Malaysia so their buddies can continue to control all their oil fields. No, no wait I got it wrong again. That was the US overthrowing the democratically elected government of Iran and put the Shah in charge for a few decades just to cause an Islamic revolution that is continuing to blow up in our faces. Or was it the time China overthrew the government of Thailand and literally melted their democratically elected leader in a vat of acid and then put one of the vilest dictators in history in charge for 30 years so western corporate interests can continue to pillage that nation's resources. Ooop, that was the US again, doing Belgium a huge solid by overthrowing (and gruesomely murdering) the democratically elected leader of the Congo.
I could write even more examples, but I'm tired of typing them all out at this moment. But sure, some Chinese loans with some strings attached are far far worse than America's track record of literally overthrowing governments, installing dictators, or just straight up invading one country after another on every continent for the past 100 years...
@@jerseyshoredroneservices225 Trump is threatening to invade Denmark and Panama
The most utilized word in that report is "unreasonable".
Maybe it should. have been "we can't compete".
Correction: the US divested itself of industry and chose to focus on finance. The PRC learned from the ROK and Japan, adopting a planned economy.
Well, kind of. The US financed industry in other countries and China is using that money to bully other countries.
I recently subscribed and I’m loving to learn about stuff I know nothing about.
Thank you for imparting to us your knowledge. 🙂
THIS IS IMPORTANT TO UNDERSTAND ABOUT CHINA"S MARITIME GOALS
China is "for" the Chinese people and isn't going to reduce Maritime and economic development because the US is failing in this industry. The report highlights US failings, and as is typical, implies - projects - blame on China when they are not doing anything abnormal, but developing global trade supporting their industries and needs of the world.
This report on China's targeting of global Maritime and shipping is pretty "shallow" and doesn't take into consideration the extensive development of trade between countries of the Global Majority, 85% of the world's population China works with.
China's Maritime development in some ways is modeled after their "Maritime Silk Roads" dating back hundreds of years when they dominated the oceans in the East, and were the number 1 world power, not by military dominance, but by trade and economic development; soft power just as they are doing today.
Their Maritime expansion corresponds with the creation of the "Belt and Road Initiative" (BRI) 10+ years ago, a new, contemporary variation of the ancient Maritime Silk Roads of the past.
This initiative connects over 150 COUNTRIES worldwide including the BRICS nations, and other individual countries. Consider how extensive this is when there are a total of 193 countries in the United Nations. Nearly 75% of the world is connected to China's Maritime developments! Only the US, UK, Europe, and a few other countries are not participating.
So it is not JUST CHINA, it is a multifaceted, collaboration between these countries. They all benefit, and have a stake in a form of "participatory economic development", all contributing to China's expansion of their Maritime capabilities.
The US is left out of this because WE decided NOT TO PARTICIPATE. China never goes into a country unless invited, and they DO NOT control most of the ports that are part of the BRI. The other ports that they help manage are a result of COOPERATIVE AGREEMENTS with the host countries.
If the US was a participant in the BRI, China would have made large investments in US port infrastructure to bring them up to standards for handling larger ships, including the necessary technology and automation. City/County owned ports would have access to supply chains never possible otherwise with significant financial gains.,
So far we have not seen any interest by Trump to help rectify our Maritime shortcomings. Like most of our talk about inadequate Maritime capabilities, there is insufficient political willpower, funding, and expertise to address the issues.
Chinese are 17% of the world population, so Chinese being 19% of the shipping industry makes sense.
Every country has the right to minimise dependency on every other country. That applies equally to the US and for China. My concern is that the US will do it not by being better, but by using its power to force other countries to be worse.
That is our M.O.
Yup, pretty normal for us.
So . . . Chinese planning and economy is kicking our butts? Our short-sighted focus on profits is counterproductive in the long run? What’s best for the shareholder isn’t necessarily what’s best for everybody else? Inconceivable!
The US had the opportunity to maintain its position, it chose to offshore. China is only doing what the US would do if it was in the same position (but by providing a good deal instead of threats and sanctions). The US should try lifting itself up, instead of threatening those that are better.
Let's remember that politicos, execs, and econ professors, told us that it was good to ship jobs offshore. None paid the cost of the scam.
Not a scam.
I wonder who really owns those last few publishers of textbooks. Every college seems to be using the exact same ones. There only a very few actual publishing conglomerates in control of everything our students learn.
Lol, but it is good to the capitalists. The oligarchs (or billionaires as they call them in the US) are happy as hell, rich as hell. All that coming from this outsourcing.
Now they're putting the blame on foreign workers! The outsourced workers ar being f*ked way more than anyone else! The enemy is not them, but the capitalist overlords that are exploiting us all!
Don’t worry! The invisible hand of the market will sort it all out. 😂
Ross Perot ws warning the USA about this back in the early 1990's. Americans thought he was a crazy Oldman nutcase and paid no attention to his warnings about the USA offshoring all its manufacturing jobs.
I got one question. Why is it a problem when China dominates the shipbuilding and related industries ?. It's not hurting global trade and Japan and Korea aren't worried about it.
Actually Japan and South Korea are worried, but they both understand they will never be able to compete with China. Furthermore, China is a critical source of raw materials and trade. Unfortunately for them they are both occupied countries and vassal states of the U.S. It's a balancing act, but eventually Japan and South Korea will have to decide whose side they are on. The better bet will be China.
Americans don't want to accept the reality that their century of domination as an empire is falling. Much like the 19th century belonged to the British. Americans can't believe that the 21st , May belong to somebody else.
@@nycsim-r8twhy should they side with the country that will make them obsolete and irrelevant, like what happened to Honk Kong..?
No one complained when Japan and Korea were dominating the shipping industry; this anti-China hysteria is something else.
It's a problem if you're American. Only we or our allies should be allowed to dominate these industries. This is especially important if we want the ability to enforce sanctions against some country.
why do international shipping not flag as US ship? as you mentioned, it because US government policy IS NOT FRIENDLY to these businesses. all these thing seem to be blaming China for what US: DID TO ITSELF. that's "unreasonable". also the claim that China corner the shipbuilding market against Korea and Japan made no sense, there is nothing stopping any country from using Korean or Japanese services, and these countries are both rich enough to offer their own financing. rather the reason they are not getting order is because of backlog. China being a much larger country simply has more shipyard. smaller shipyard in China are developing more capabilities to tackle more complex projects.
all in all, what we are seeing is just open competition and US losing to open competition because of dumb ass policies. so why don't US just reverse those 'unreasonable' policies that is self-defeating?
For the US to reverse the process, it would have to abandon the neo-liberal free-market extremism that has been its dominant ideology since the Reagan era. Unfortunately, it's what the electorate has kept voting for over the decades since -- including with this new administration and the free-market extremist oligarchy that it has been given a mandate to establish.
Thanks!
so unfair that china is doing its best to build their economy and the U.S. has not?
We do have 800+ military bases around the world on $1-trillion+ budget.
@gotmilk91 Exactly. And we shouldn't forget the international bankers who control the U.S. economy and focus more on financial engineering and other smoke-and-mirror financial speculation than industrial output like China.
Sal, I think you're the best. However, China built its system on US dollars. To say they are treating us unfairly in the market place overlooks where 'we' spend our money. Let me put it this way, we don't spend money on shipping, healthcare, education or molecular research and have delayed infrastructure until recently. China doesn't spend money on military, subsidizing profit, elections or tax breaks to the ultra-wealthy. China is focused on results. We are focused on profit. The question isn't can we change, that's easy. It's will we change?
China doesn't spend money on military? Really?
I agree with most of that however China is building a huge military and a lot of its civilian stuff infrastructure is dual purpose....for a reason
@@jerseyshoredroneservices225 They are not building a huge army, they've had a bigger army when they were poor. An army with obsolete weapons, ships and weaponry. It is only now that they are rich and can afford to modernize their army that they had a massive weaponry and equipment build up to catch up and be a modern army. And all these with a budget that is just a 10th of the US budget that is already the best equipped and modern army.
@@jerseyshoredroneservices225
China has to build a military. This video proves their point why they need a strong military - US is aggressive nation that is unreasonable and unfair and does not look at itself for its own failures.
@@rap3208
I didn't say army I said military.
They've been building lots of ICBMs, stealth airplanes and gazillions of military ships.
The Army hasn't been stalled either. They keep making more and more short and medium range missiles to attack Taiwan.
Isn’t this the inevitable result of the Reagan era divestment of responsibility for all strategic infrastructure (e.g. rail, road, shipping, etc) and the idea that the market will somehow provide it ‘efficiently’ (ie outsource/offshore to the cheapest provider).
Having over 500 military bases around the world is reasonable? WTF
😂 Exactly. I think it 800 now.
880+ bases
CCP bots ^
@@MerchantMarineGuy
What is CCP? Never heard of it.
@ Google “tainanmen square June 4th 1989” to learn more
Wow! A lot of information ❤❤❤❤❤
A fair free market? You’re joking right. Is it fair to have a currency that is the global reserve? China made strategic decisions, like government investments into industries.
We can see government investment outcompeting “free” market real time but we make excuses and call it unfair. Our market system and corporate corruption is not efficient. Let’s call it that.
We could subsidize and massively increase re-industrialization. We could lower interest rates for certain industries or give better tax rates to certain industries.
Instead we get lobbying, bs regulation that is bought by corporations to give a competitive cocoon, and sending the labor abroad to help the bottom line.
No it doesn’t make strategic sense. But for the few wealthy people in power, it is a very profitable deal. For that reason it will never change.
It also will never change because it's what the electorate keeps voting for, ever since Reagan. Even now, with the new administration and the oligarchy it has established.
Such a good channel - well presented honest information.
Is it anymore unreasonable than the USA's playbook across a range of areas from finance, to the Swift payment system to arbitrary sanctions? Who made the USA the head boy anyway?
I am appropriately alarmed, I think. Thanks, Sal, for your classroom on Chinese intentional dominance. I'll be back for more.
Everything in this report and what you've discussed seems to suggest something underhanded or unfair has occured, but this is all the result of legimitate strategic business practice in a free market economy - also know as capitism which America basically founded. So much coping here! Wow
Danke!
Back in the early 1970s, I started travelling and saw the start of containers in use and the US was very powerful then. Nothing prevented the US from carrying the process of manufacturing these TEUs, modernizing shipbuilding and ports for commercial interests. But, as you mention, military interests took precedence as President Eisenhower stated. And, of course, criminal interests were involved. That's about fifty years of ignoring the issue. Corporate and labor concerns have hindered modernization. Even at the turn of this century could have mitigated the present situation. America's leadership has been compromised and is a failure. Joe Blow's like me and others probably have seen this coming but we don't have influence and all we can do is shrug our shoulders and shake our heads at the mess.
You pin pointed the issue: Modernization Today Chinese build port worldwide like that of Chancay Port in Peru can handle a 25,000 TEUs ship Unload/load in 8 hours with 127 operator include trucking compare to USA.
Proof: China Builds The World's Largest Fully Automated 5G Port, Only 120 staff are needed since 2010 24/7.
ruclips.net/video/XZIbLBcE0OM/видео.html China is EXPORTING this technology worldwide.
The Yanks lost the ability to compete with others, so they became crying babies instead 🤣
@@davidkwok777 this is accurate
Wow I had no interest in maritime shipping of any kind. Commercial military crobley until I started watching this channel. It's like I've grown a second brain when it comes to shipping. And trade.
You are amazing. Thank you very much. !!
It is so difficult to admit that China is simply better.
The CCP is definitely better at bribery, coercion, control and self-dealing. Absolute masters of the afore-mentioned in fact. They also gladly use all useful-idiots to the detriment of anyone and everyone who is not the CCP and in the last 10+ years that is embodied in a single person: xi jinping
Great work. Thank you for digesting the report and making the key points clear to a wide audience.
USA should go to the World Trade Organisation not look for war to settle disputes
China is out Capitalising the USA
@@jennyohara4011 Unfortunately the US chose to sabotage the WTO a long time ago, so it's not likely to get very far with that. Not that the WTO was ever a strong organisation, of course.
@jennyohara4011 The more prepared for war the USA is, the less likely it is to happen. It's called peace through strength.
The rules based order is dead.
You want it , you have the guns and numbers, just take it.
Putin is doing it, Trump is saying he’s gonna do it, so everyone that can will.
WTO lol.
As a Chinese who subscribed this channel for a while, I want to say something.
The incompetence of US keeping it's educated worker and full supply chain is well known across the world, it's not like China put US in an unfair competition or something. At first US companies outsourcing its job to the world, then the workers got no money, so no buying product, which makes the margins lower, then the US companies had to reduce the cost and outsourcing more, then more job loss and supply chain removed, and this never ends without US and its people finally woke up and change. The WallStreet and big tech, MIC are the real problem here, they abandoned hard working US worker family.
I, unfortunately, agree with most of your statement.
Sal,
When I left school in 1975, Japan was the leader in shipbuilding and ship repair. They were a dominant player when it came to operations.
By the mid-90s, there was no doubt Korea's big three, Hyundai (HHI), Samsung, and Daewoo (DSME), were leading when it came to shipbuilding and repairs. By 2005, the move was underway when it came to shipbuilding and repair. I assume the same is true for operations.
It is hard to predict who the next 'leader' will be. One thing is certain, it is very capital intensive to stay on top of the shipping pyramid. The big question is how long will China want to stay on top.
Bob
they were also top dog in semi-conductors. we nicely asked them to give it up... and the lost decades.
Thanks for another clear video 👍👍👍
Chinese being more efficient= Unfair
Another great video Sal🎉
China expand its shipping due to exorbitant charges by foreign carriers. Didn't BYD has its own cargo ships just so they can control the costs and timeliness?
Thank you for another Great video. Cheers
The last we heard from the striking port union on the east coast was that they were against automation of the ports.
China makes their ports super effective by automaton 🙂
China subsidizes competition. So far USA is winning in homelessness drug addiction and unemployment subsidies
US can create Money out from thin Air ! It is “unreasonable” to ask US workers to work as hard as their
Chinese counterparts !
The U.S. regiment from both sides of the aisle did not divest from the 800+ known military bases around the world; what positive / negative impact on humanity because of this?
CCP comment lol
@@MerchantMarineGuy Truth hurts, man! Try to refute it, refute the 800 military bases around the world, that's a trillion a year expense man. Imagine if it was used building your infrastructures that are falling apart, or perhaps build new ones.
Perhaps if the US hadn't forced the UK to dismantle its empire with such haste. Both countries might be in stronger positions individually and collectively vi's a vi's trade, logistics and associated infrastructure.
I think it's unlikely the US will respond with constructive investment. It'll be sanctions and other coercive measures or nothing. I suppose we should consider ourselves lucky that China doesn't use its maritime dominance as maliciously as the US does its influence over the semiconductor arena.
The difference here is that in addition to some light complaining, the Chinese are also putting their heads down and working hard to, you know, do something about their semiconductor gap to the US, and most likely in a few years, they'll have at least caught up a lot on that sector and getting a start to becoming self reliant on making chips themselves.
Meanwhile the US is just gonna keep bitching about this shipping issue but will do NOTHING other than bitching about it.
Seems as if what I would have said has been well covered. Thank you .
there is only one thing I cant understand, anyone can explain it to me?
so many people always talk about "unfair subsidy“, and it seems to me that China is doing this to a hell lot of industries, EV, new energy, ship building, everyday goods production, essentially any industry in China is subsidized. the problem is, where Chinese government get those money to do this? and if they are actually doing it, why its bad to let Chinese people's tax money to pay a good part of essentially anything you buy ?
@yuey0602 USA and Europe are hypocrites. You want to see subsidies look at CHIPS Act.
Why is it bad if they dominate critical industries?!? Whaaaat!?
Clearly some of you have already forgotten the COVID pandemic.
Another thing: We should be *reducing* not increasing the abundance of plastic and carcinogenic pollution of their products they're dumping on us.
@ you are not answering the question, just repeating "subsidy" "low wages" and things like that. or the result dominance. the question is how can anyone do that.
@ and if China cant subsidize all the industries, it seems to me in most time "subsidy" is just an easy excuse to cover their own failure.
I hope this gets to the right people in the White House and Congress.
Thanks Sal!!
Doesn’t Trump get all his flea market goods from China? Hats , shoes, bibles , tee shirts, watches , guitars, cologne, shot glasses, liquor and his printed material for Trump University . He has a Trump Hotel in China too . I really don’t understand his beef with China.
This same thing could be said for and applied to a lot more of Americas industry besides the shipping or ship building sector! We are not only loosing products being made in this country, but we are loosing a lot of the engineering and production skills to China, and that is it is showing itself more and more in the quality of people you try to secure for the jobs that are left here! Changes need to be made, we need to put a stop to companies sending our manufacturing, engineering, and management skills overseas to other countries! Bring back those skills and work to this country, those skills and manufacturing practices may be need in this country if we ever were to get in a conflict with another country!
So funny. What is your country?
tHE USA'S top ten compaines sent ALL their produciton to China: ironic, isn't it??
every country should stop the US from brain draining their countries
How about you persuade Trump’s Jewish boss not to make money in finance and instead use all the funds in manufacturing?
And it’s not just China remember your computer runs on chips made in Taiwan, for inseaance
Thanks for saying what I have been telling people for twenty years.
In Summary: the US didn't shoot itself in it's proverbial feet, when it de industrialized in the 80's and 90's, it shot itself in the head and now without the Brains to realize WTF happened, it uses its old playbook of blaming everyone else in particular the underdog who now has top raning in every sector, whether it be shipping, trade, technology, military power, smart phone computer or vehicle production, the US lost it's way after it ripped the heart out of it's economy, through de-industrialization which lost it's ability to innervate and improve and develop exponentially as China and Russia have over the last 30 years. US intelligence has been left to the CIA, which is a brain dead corrupt, grouping of Neo-cons, Idiots & Oligarchs, pushing the US into endless conflicts after organizing and carrying out 911 along with the pentagon to create The Perpetual war of Terror, rather than developing infrastructure, Cutting edge technologies and associated Industries. Wasting tens of Trillions on wars conflict and sanctioning other nations rather developing a better economy. Neoliberals, Neocons and successive corrupt administrations have ruined the USA. There is hope, just as Putin has pulled the Russian federation out of the absolute ruins of the collapsed Toxic mess that was the Soviet Union and made the russian federation into a world leader Economically, Politically, Technologically and with Infrastructure and technology deveplopment within the BRICS and BRI framework that will pay devlopment dividends for many Decades if not centuries to come, along with China and other BRICS+ allied countries following the same formula. Trump has to realize that the world has changed, it is dominated by the 152 countries allied with BRICS+, the so called Multipolar world, which the US can be a part of but not a dominating factor, just a part of it on an equal footing with it's peers. BRICS+ is the biggest and best thing to happen to the economic development of the world, in history. The US can play a part in it or sit on the side lines and throw insults to show how great it isn't, the choice is in trumps hands.
Thank you Sal, for stating what’s incredibly obvious to some, but the country as a whole seems oblivious to.
"Wwwaaaa it's like totally unreasonable how efficient and focused the chinese are compared to us"
:D
Yo Sal, So this is where we are looking at seizing control of the Panama Canal now, right?!? Thanks for Post.
"Fair" is just a counrty carnival.
This trade deficit is well described by two classic economist, Robert Gresham and Richard Cantillon, they describe this in Gresham's Law and the Cantillon Effect. Its a natural cyclical economic phase fueled by the human nature of instant gratification vs saving and producing.
Thanks Sal
super Sal! 💙💙💙💙
US is at least 20 years behind China in almost every industry. It tries to blame China for its own backward political system. Its justice system is now a joke of the world and can be compared to some of the poorest countries in Asia and Africa. It legislative system does very little other that quibble over things that no bearing to 90% of its citizens. Its executive branch is now run by old old men from a past century with no clue about the changing world.
Its government is the same its car industry as it used to be. But it has most of the billionaires of the world and lots of angry citizens whose focus is China.
Thanks Sal ,,, WOW
Nearly 40 years ago a Chinese delegation were visiting a commercial bank in Europe where my wife worked. During the conversation the senior banker asked "what are you after". The Chinese said the ports! If the politicians have not figured it out yet we need better informed politicians. They want all the shipping and the ports to go with it. Wake up America!
Chinese buyers need willing sellers. The politicians didn't stand in the way of US companies out sourcing labor and supply chains.. The politicians are owned, so don't blame the puppet. Blame the puppeteer, the rich owning class. We are waking up to the fact that a communist country, not as bound to quarterly earnings and profit, can do it cheaper and better when capitalists sell them the ability to do so.
... the word/term,
"Woke"/"wake" have as of late, become a rather poor choice of words to describe the need for a sense of effective awareness.
I never liked the term 'mindfulness' either @@yeetube-ghostedMoose but I agree that we ought to pay attention to our surroundings and be aware of the situation we are in. Chinese buyers need willing sellers after all
@@yeetube-ghostedMoose 'Wake up America!' we are going old school. lol
Wait until they roll out the robot army. Drones and robot dogs will fight their battles.
Excellent and informative. The leisure craft industry seems to be doing well though sanctions on Russia have hit the European luxury yacht market
Excellent maritime assessment!! Outstanding!
SAL ... CRAZY question for you !
Where do you buy those nice shirts with boat designs on them ?
One blue one I saw you wearing really looked cool !
ROFL targeting? It's called competition...
Very interesting, as a Brit I had no idea China had dominance so completely.
Your channel is the most informative source of relevant news I see these days. Trade is the economy, and shipping is trade.
Will be sure to watch the one with Ward. He knows his stuff, and you do yours, so it is probably the best kind of naval/shipping info I get right now.
Found your site when the Francis Scott Key bridge was hit. Have learned what Made in China really means. Global dominance will not happen with weapons was once predicted - you're certainly bringing a piece of that puzzle to light. Thanks for your enlightening reporting.👍
For the past 5000 years, China has been the absolute military, economic, and cultural leader for the vast majority of the time. It's normal for them to return to the first place. Why are there any doubts?
Your channel has quickly become very popular.
Way OT, but topics I hope Sal gets back to:
Are we seeing continued shipments of US weapons or other support to Ukraine? How have (or are) said shipments effected (without going into classified details or too far into any clandestine ops!) Ie., how do we get this stuff there?
Enforcement of the latest sanctions on Russia (largely but not entirely dependent on the US) -- EU tracking of Russian ships would be interesting if happening. How much of that could be done by seagoing / marine drones?
NATO or EU efforts to protect(?) undersea cable and such? Again, how much of that could be done by seagoing / marine drones? Might be a good topic for Ward, too...
so the jones act is fair, but china getting bigger market share is unfair?
The USA Army has the Worlds largest maritime shipping logistics center built in WW1 and extensively used in WWII located in New York City which is mostly empty today.
Although I'm not in agreement with you, but I must say that it's people like you are the ones that should be guiding our government and your passion for maritime administration is very impressive. In the next election cycle you should run for office the country needs you.
In preparing for (and avoiding) conflict one must consider one’s opponent’s capabilities over intentions. If China has the capacity to severely disrupt our economy then we must assume they plan to do so, and we must be prepared to cope or fail. We can already see China’s willingness to exercise maritime muscle in the Soith China Sea.
Lets point a similar mirror at the US: US targeting of the international financial system for dominance is unfair. It increases risk and reduces monetary policy resilience. It is unreasonable because it not only acts extrajudicially, it seeks control over financial actors within and without the US dominated financial system.
That's a VERY important podcast. Thank you.
Just heard some dude by the name of Uncle Sam in our neighborhood, complaining about his wife not getting pregnant because the guys living next door to his house are NOT helping out in getting his wife pregnant.
We must have all Amazon shipps, made by, hauling all products, repairing only Amazon property. You always are so great Sir, thanks as always.