Professor Jeffrey good evening to you in Singapore time. I always loved to listen to your experiences in US relationship with China. You always provide lots of insight about the western countries. Thank Luilin and involved you in this development in China. You spoke valuable things together with us.
Rational and unbiased observer of things. Thanks to alternative media, citizen journalism and social media platforms and creators, dissenting voices like him are given the platform to air alternative perspectives
An excellent interview! It's reaffirming to hear Professor Sachs' thoughts and insight about the 3rd Plenum's framework, which is goal oriented, systematic, and holistic. We will strive hard together for the betterment of the community of humanity at home and abroad for the days to come.
I just bought a high-quality PC made in China for only $200! Its a wonderful product, I don't know how they make them so low-cost. China really is an amazing place.
It is very hard to compete with China . It has scale , its people are well educated and hard working . What is more, the Chinese government think strategically and plan accordingly.
China has always believing, doing and expanding trading and supporting businesses; without a country cannot develop and grow. China's "belt and road initiative" is ongoing.
Agreed, that an economy based on the market dynamics is doomed to fail because it broadens the gaps between the rich and the poor which in the end will lead to inequality and distress just as what has happened to the usa. China is a socialist country with the emphasis on the prosperity for the whole population which is the holistic approach of “good for all”.
China is strategic. One closes in moments of weakness. Opening up of China is strategic and being done in a position of strength. This will further strengthen it's economy and increase it's soft power through cultural exchanges, tourism and more trade.
I HOPE AND PRAY THAT DONALD TRUMP INCLUDES PROFESSOR SACHS IN HIS ADVISORY TEAM! WE ARE SO LUCKY TO HAVE YOU HERE AT THIS TIME. Best Wishes from Australia.
Land in any country or city in the world. One of the first things you will pick up will be made in China, even the airport you land most the materials used are made in China.
@@conradtrinh6470 China remains hopeful for developing country tax exemptions from the EU and US. which is positioning china not diffrent from country like Cambodia begger mindset?
But than got dazzled by Israeli ill gained money and bribes so now both US, UK are owned by the greediest, ungodliest nation in the world dragging NATO, EU, ALLIES into the sewer!
@@conradtrinh6470 And which country is colonized by the US today? And let's be clear about something... the people of "said" nation gets to decide if their colonized, not you! I'll also remind you, the US has liberated and freed many countries in its short existence including China... how many has China liberated and freed in its history? NONE!!! SAD....
The Espionage Act 1917 signalled the revocation of Independence. It was used McCarthyistically at the time, and was used recently to attack Australian chief journalist Julian Assange. The LaRouche/Schiller folks and Quakers are the genuine liberty-based anti-imperial Americans, and have described the cultural shift at that time - from holidays against the British to subservience.
Professor Sachs does a great job explaining why a pure market economy doesn’t work and isn’t sustainable. It seems impossible to explain to westerners who grew up learning about Adam Smith’s ‘invisible hand’ that there’s another way to develop one’s economy. The Western perspective is generally a uni- minded perspective: universal values, unipolar world, etc., leaving no room to debate or attempt to understand diverse thoughts or ideas.
Would Prof. Sachs agree to this that Sino Phobias here in the US ruling Elites has been since the completion of the Chinese Build of the Trans Continental Railroad from California to Chicago.
Pragmatism prevails. Chinese competent, responsive and accountable leadership is a living testament to the old adage : "When the going gets tough, the tough gets going "!
China was once closed. Which just so happened to have led to the "century of humiliation". In actuality was about 200 years. Now the Americans are doing the same. History repeats; for those who lack knowledge of it. Which begs the question: why are the Chinese insists upon interrupting the American mistakes?
As EU we are just dumb to hang on to the USA. We should join BRICS and the Belt and Road Initiative, have a voice at the table. Our wellbeing is in co-operation.
One thing which is the most important thing.... All the biggest business what has that country.... Should belong to the Gov. If that country! If they do that .... We never,never has to do with ... Globalisation!
@@TacticalMayoThe US cannot nuke itself even if it wanted to, let alone nuke others. Reason is so simple; China has the capability to shut everything down above the N. American continent and put the US into a "cage". 😂😂😂😂
China might have to become more powerful to stave of the warmongers of the West. But, their goal is really just prosperity of China itself. To get there, they have to wake up the Global South, and make them prosperous too. Otherwise, they wont be the good trading partners China needs. China wouldn't even do anything about the US hegemony, if it wasn't for for that they try to keep China from the prosperity they seek. Simple, but profound: China has to outcompete the US!
Jeffery is reading talking points but I doubt he ever talked to one businessman. China seems to be working on the colonial model of buying raw materials and then exporting finished goods. They'll buy soybeans from Brazil but little else. At some point China in order to keep the peace will have to close Chinese factories and start setting them up in countries they now just buy raw materials from. Japan went through this back in the late 1970's and 1980's.
Tbh The Third Plenum is too vague. End of the day, it depends on implementation & maneuvring depends on situation. If they could pull it off, China's success will change the entire world & the end of western capitalism as we know it.
defeating capitalist? China market is a capitalist market, what it mean is china is a capitalist it self. China growth thanks to the US and EU special tax for developing country. Until today china pay the same tax and cambodia for export goods to US. Begger mindset?
1:32 'high standard - socialist - market economy'? Talk is cheap. Stringing three mutually exclusive ideas together is wishful thinking. How is this possible in a top-down pay-to-play system?
@3:20 "opening up" is an interesting phrase to use. China is already a massive exporter. So how more "open" do you need to be? What China needs is more imports so that they can close down a little bit of their production so their workers get a bit of a break. That's incredibly hard when they have a fundamentally backwards ideology akin to mercantilism. China is currently the nation-as-factory-worker for so many "advanced" nations. I'd suggest China stop exporting so much, and make sure they produce goods just for their domestic economy. If they manage a surplus then that's available for export. Exports are the real cost, imports the real benefit, but exports are the price you must pay to get decent imports. The point is to not pay too high a price by making your lowest income workers suffer by making them produce goods for foreigners to consume. If the USA wants smartphones and silicon chips, let the US make them, they certainly could. In fact in recent news I heard China might slow down a few exports, so maybe they have been listening to these ideas? It might put a little pressure on their exchange rate, and maybe a bit of pass-through inflation, but that's a domestic redistribution issue, not a finance issue. China monopoly issues the renminbi. They cannot ever run out of renminbi, it is the Chinese government scorekeeping system, aka. tax credit.
Although I love Prof Jeff Sach, whatever he says currently isn't said & written down into law by the chinese leadership. we need clarity on words not ambiguous interpretation by various experts. sorry prof. I honestly liked what prof Jeff Sach said but its didn't come out from chinese leadership mouth & not written down into law;
In Germany, I keep meeting people who see China as the only "evil". That China is ruled by socialism, which Westerners dislike, that the government intervenes everywhere, regulates and reprimands, that everything is copied from the West, that there are unfavorable working conditions and that there is no free market economy a la capitalism, but rather the socialism of the GDR a la planned economy. Incidentally, China had never considered GDR socialism worthy of emulation. These are the thoughts of normal German citizens, some of whom are workers, journalists, etc. Unfortunately, I also hear similar things from citizens of Japan, who, for example, are asked in their country not to buy Chinese products. So many people who believe everything from their home media and reporters, who certainly do not have the opportunity to check all the information they hear and read for facts, facts on a real level, or because they blindly trust everything that governments and their politicians say. China is being talked about badly because, and this is what US politicians say, and this is at least an honest statement, China is too innovative, too far in education, too far in research and development, too far in infrastructure, following the successful path of the market. So now they fear global competition, which until now corresponded to the neoliberal market that Europe and the USA have followed and advocated and recommended, and are now almost on the path of isolation, of intimidation of other societies, and will probably propagate even more protectionism for their own economy. Nobel Prize winner Milton Friedman's theory of neoliberalism is based on the thesis that the first of all freedoms of a free citizen of a society is economic freedom, and that all other freedoms can then fully develop. The theory lacks the essential aspect of the social, that is, that the nature of a person in a society must be shaped by sociality, that people first and foremost have sociality as a starting point, and that this is what makes it possible to achieve economic freedom. Back to the Western image of China as "evil". You are inclined to believe it without checking it. That is why I have a few recommendations that allow you to gain a little more insight into China's economy. Ronald Coase, UK Nobel Prize winner for economics, confirms in his book "China's Capitalism" that China's market economy and the transformation of the economy correspond to the nature of western capitalism. Isabella Müller, an economist and consultant in Berlin government circles, shows in "The Spectre of Inflation" the long development, 10 years of practical testing, of China's transformation to a capitalist market system, with direct interviews with China's economic specialists at the time. Nobel Prize winners Tobin and Friedman were advisors in the 1980s alongside Chinese economic experts to find the path that suited Chinese society. And the citizens of China demand price stability from the government because otherwise they will be very dissatisfied. So no significant inflation rates are what the Chinese population wants, in other words, only low inflation. This is essentially how the Chinese government implemented and implemented it even during the Corona period. The state then intervenes and regulates. Or promotes economic development, for example the e-car industry, through targeted economic policy. And: Germany has subsidized the local car industry more than once: once not so long ago, when sales figures were miserable, through the state-imposed sales booster campaign in 2009, "environmental bonus", also known as the "scrappage bonus", and the e-car purchase subsidy practiced in 2023. This is still running in France, for example. And China has completely abandoned e-car subsidies for some time now and left everything to the free market. And that clearly means that of the 100 car manufacturers that still exist, only a very few will survive. Because the free market in China now regulates this itself. And Friedman's basic insight is that the first priority is economic freedom, and behind it must follow all other freedoms that can then be realized through it. So economic freedom has been achieved in China and remains a goal. China's political one-party system is different from the two-party system in US society. The two-party system in the USA is also different from Germany. The Chinese party knows that the time for a change in the political structure will come, but the current priority is still on the economic level. So everyone, look behind the scenes, stay rational, get professional and technical knowledge, checks on site in China, and then makes a judgement. It would be good if China gave visa-free travel for 3 to 4 weeks instead of 2, because the trip is quite expensive and time-consuming in terms of flight hours. And if you are already there, then it is definitely more worthwhile for both sides: to get a longer insight into China, and China can also show itself more intensively as it is.
And if any of those businesses get big enough in china the state the people's state should own half of the business as it is now That is how the people do not fail in china That does not happen in the u s a and is the reason it will fail
What Sachs believes though is the market should allocate resources. He does not believe in prices and incomes policies, which have worked well in Germany and Japan. A mixed economy does not mean in China what it means in the US. In fact economists dont really undersrand the relationship between government and markets in China as it is nothing like the mix in the US. In fact in many ways the distinction is largely meaningless unless we are talking about very small enterprises. Even then there are all types of regulations which American economists would argue would make enterprises uncompetitive.
Professor Jeffrey good evening to you in Singapore time. I always loved to listen to your experiences in US relationship with China. You always provide lots of insight about the western countries. Thank Luilin and involved you in this development in China. You spoke valuable things together with us.
Prof. Jeff is always on the side of reason and logic !
It's really enjoyable to listen to Professor Jeffrey Sachs talking about the facts about China and we can learn a lot from him.
Professor Jeffrey Sachs views on Ukraine war are very enlightening. Very wise man .
Yes even I didn't know about Biden wanting to station missiles in Ukraine just prior to Russia's SMO.
Sachs = Facts
Rational and unbiased observer of things.
Thanks to alternative media, citizen journalism and social media platforms and creators, dissenting voices like him are given the platform to air alternative perspectives
Dr Shock Sachs = BS
Absolutely.
hahah nice
= crap
China is very progressive and this is helping to make the world a better place.
Prof is rhe outstanding man on world vision. With his vast experience & wisdom it's incredible. His equil vical stand had speak volume.
Excellent analysis by Prof. Jeff Sachs ❤
I am always excited to hear from Professor Jeffery Sachs argument and reasonings 👍👍👍👌
I m from Cambodia J Sach
I do agree with u
Prof Sachs is a great guy. He is a man of wisdoms and peace. Hope he can be honoured with the Nobel prize for peace ❤❤❤
Nobel prize is overrated after Obama won it😂😂
@@PeterLamin-pi6rvyes. Can't agree with you more.
@@ooikk8458 thanks 👍
@@PeterLamin-pi6rv😂😂😂
@@robincobb8611 😜😁😁
Sachs would make a great Secretary of State!
He's disqualified by not wanting a trade war with China.
The anti-China policy in the US would never accept anyone who want cooperation!
He would make a great President - The world will be a very peaceful place with leader like him.
He is far more intelligent, and knowledgeable than Secretary of State Anthony Blinken, and far more superior in intellect 💯%.
Don't be fooled
Look at his history in the collapse of the soviet union
He specialised in economically destroying the Eastern Block
@@aneurindavies5943he was Russia after USSR fall with banks to loot . Time changes fast
So true, so wide!
Godbless China in its endeavor in its quest for a inclusive society with Chinese characteristics 🙏❤️
Divergence indeed.
Sachs was spot on here. 🎉🎉🎉🎉
Well said and great discussion
An excellent interview! It's reaffirming to hear Professor Sachs' thoughts and insight about the 3rd Plenum's framework, which is goal oriented, systematic, and holistic. We will strive hard together for the betterment of the community of humanity at home and abroad for the days to come.
Always like these two people so much ❤
Professor Jeffrey Sachs is the most respectful expert 💯
China is setting a great example of how to build a more just and prosperous society.
Hopefully one day I can do a interview with the news anchor of this channel!
Excellent analysis : )
One of the most interesting fact: China is making things more affordable and efficient
❤exactly
I just bought a high-quality PC made in China for only $200! Its a wonderful product, I don't know how they make them so low-cost. China really is an amazing place.
I often wonder why there aren’t more clear headed intellectuals like professor Sacks in the U.S.
Prof J Sachs has perfect analysis of China n U S at this juncture of world economic development. Perfect Pro. 👍👍
It is very hard to compete with China . It has scale , its people are well educated and hard working . What is more, the Chinese government think strategically and plan accordingly.
In the US, the economy is regarded as a zero sum game and the winners are pre-determined by initial advantages.
Thats Hongkong actually not the US
Hong Kong already unified with Beijing since 1997 after been colonized for over 150 years by the British...@@SSYlist
China has always believing, doing and expanding trading and supporting businesses; without a country cannot develop and grow. China's "belt and road initiative" is ongoing.
Agreed, that an economy based on the market dynamics is doomed to fail because it broadens the gaps between the rich and the poor which in the end will lead to inequality and distress just as what has happened to the usa. China is a socialist country with the emphasis on the prosperity for the whole population which is the holistic approach of “good for all”.
China is strategic. One closes in moments of weakness. Opening up of China is strategic and being done in a position of strength. This will further strengthen it's economy and increase it's soft power through cultural exchanges, tourism and more trade.
Adding a glossary section with clear definition to the terms Chinese leaders used in the Third Plenum could be very helpful.
Jeffrey for President
He's a socialist traitor, absolutely not.👎
Great show 🎉
I HOPE AND PRAY THAT DONALD TRUMP INCLUDES PROFESSOR SACHS IN HIS ADVISORY TEAM!
WE ARE SO LUCKY TO HAVE YOU HERE AT THIS TIME.
Best Wishes from Australia.
Land in any country or city in the world. One of the first things you will pick up will be made in China, even the airport you land most the materials used are made in China.
Even though the US declared to be independent from the British, the US still carries the colonial mindset of the British empire. SAD!
I know. AmeriKKKa should known better not be colonizer due it was painful colonie before now UASS is worst one go figure. Like father like son.
@@conradtrinh6470 China remains hopeful for developing country tax exemptions from the EU and US. which is positioning china not diffrent from country like Cambodia
begger mindset?
But than got dazzled by Israeli ill gained money and bribes so now both US, UK are owned by the greediest, ungodliest nation in the world dragging NATO, EU, ALLIES into the sewer!
@@conradtrinh6470 And which country is colonized by the US today? And let's be clear about something... the people of "said" nation gets to decide if their colonized, not you! I'll also remind you, the US has liberated and freed many countries in its short existence including China... how many has China liberated and freed in its history? NONE!!! SAD....
The Espionage Act 1917 signalled the revocation of Independence. It was used McCarthyistically at the time, and was used recently to attack Australian chief journalist Julian Assange.
The LaRouche/Schiller folks and Quakers are the genuine liberty-based anti-imperial Americans, and have described the cultural shift at that time - from holidays against the British to subservience.
Some American voters would like to know which American candidate is less hostile and less adversarial to better relations with China?
China has moved it Manufacture Facilities to Mexico as the USA is moving production of USA Products to Mexico for manufacturing.
Yeah but the US is putting an act that if anything comes from China of those factories they won't take it.
only like 1% of what china have
Mexico making out like bandits.
Professor Sachs does a great job explaining why a pure market economy doesn’t work and isn’t sustainable. It seems impossible to explain to westerners who grew up learning about Adam Smith’s ‘invisible hand’ that there’s another way to develop one’s economy. The Western perspective is generally a uni- minded perspective: universal values, unipolar world, etc., leaving no room to debate or attempt to understand diverse thoughts or ideas.
支持你们
480P resolution is not appropriate.
Would Prof. Sachs agree to this that Sino Phobias here in the US ruling Elites has been since the completion of the Chinese Build of the Trans Continental Railroad from California to Chicago.
Pragmatism prevails. Chinese competent, responsive and accountable leadership is a living testament to the old adage : "When the going gets tough, the tough gets going "!
In China i trust for peace and security ❤
LOL 🤣
U r a liar. Coronavirus lockdown for a very long time is a perfect example for low energy of Chinese leaders😢
@@TacticalMayo👍
china will one day save the world
@@vgstb LOL 🤣
China was once closed. Which just so happened to have led to the "century of humiliation". In actuality was about 200 years. Now the Americans are doing the same. History repeats; for those who lack knowledge of it. Which begs the question: why are the Chinese insists upon interrupting the American mistakes?
Holistic..... physical, Mental, Spiritual.❤❤❤
I wish Canada would join belt and road. We need help!!
China learnt a lesson in the close door policy leading to the downfall of the Qing Dynasty. US must do some homework.
Dr. Sachs, China and USA used to be best friends despite political differences. What happened? Did politics finally supercede economic friendship?
Best friends only when it suited the U.S. interest.
This Asian lady speaks better English than all mainstream American "journalists".
Deng Xiaoping famously said "It doesn't matter whether a cat is black or white, as long as it catches mice."
As EU we are just dumb to hang on to the USA. We should join BRICS and the Belt and Road Initiative, have a voice at the table. Our wellbeing is in co-operation.
God Bless 🙏 China.
In the Bible says...
All the good things comes from the East!
In a Piers Morgan interview, American Sachs could not say anything good about US when directly asked by Piers.
One thing which is the most important thing....
All the biggest business what has that country....
Should belong to the Gov. If that country!
If they do that ....
We never,never has to do with ...
Globalisation!
we hope future China number one powerful country in world
The world would be covered in giant mush☢️rooms before we🇺🇸 ever allow that.
It is on its ways ALREADY.. There's no need to hope.. Take 2 weeks' trips to China and see the REALITY'S versus Faked news on USA'S ends🙄.. PERIOD..
@@TacticalMayo😂😅..Welcome to the new evolutions of human evolutions after the World's ☢️ 💥🍻😆👍😄
@@TacticalMayoThe US cannot nuke itself even if it wanted to, let alone nuke others. Reason is so simple; China has the capability to shut everything down above the N. American continent and put the US into a "cage". 😂😂😂😂
China might have to become more powerful to stave of the warmongers of the West.
But, their goal is really just prosperity of China itself. To get there, they have to wake up the Global South, and make them prosperous too. Otherwise, they wont be the good trading partners China needs.
China wouldn't even do anything about the US hegemony, if it wasn't for for that they try to keep China from the prosperity they seek.
Simple, but profound: China has to outcompete the US!
Yin and Yang.
China is all about cooperation Please give the US a chance
China is on the right path while US is in decline
😂😂😂USA is closing its front door and back door including all its windows😂😂😂not forgetting building wall should Trump elected to the white house😂😂😂
. What would, Should or Could be the place of Africa with all the potential, and resources such as raw materials? 😢😢😢
Great nation, great country CHINA
Where can I read out paper output that they are talking about?
Western countries fill the pockets of the few . Energy costs and internet costs so expensive and rely on subsidies
Jeffery is reading talking points but I doubt he ever talked to one businessman. China seems to be working on the colonial model of buying raw materials and then exporting finished goods. They'll buy soybeans from Brazil but little else. At some point China in order to keep the peace will have to close Chinese factories and start setting them up in countries they now just buy raw materials from.
Japan went through this back in the late 1970's and 1980's.
Please Chinese president help Palestinians
中国必须更加重视工业化和工业发展，实现2032年中国发达、工业化强国的目标。
Tbh The Third Plenum is too vague. End of the day, it depends on implementation & maneuvring depends on situation. If they could pull it off, China's success will change the entire world & the end of western capitalism as we know it.
China hybrid cars ...
They goes for 2000 km.
And next development of the hybrid cars will be 3000 km. From one change!
Where is the 1080 WHY only 480 ?
Planning vs free market ( free looting)
asians defeating capitalists at their own game 😂😂😂
defeating capitalist?
China market is a capitalist market, what it mean is china is a capitalist it self.
China growth thanks to the US and EU special tax for developing country. Until today china pay the same tax and cambodia for export goods to US.
Begger mindset?
1:32 'high standard - socialist - market economy'? Talk is cheap. Stringing three mutually exclusive ideas together is wishful thinking. How is this possible in a top-down pay-to-play system?
Columbia U. Interesting. Left holds hands of left?
@3:20 "opening up" is an interesting phrase to use. China is already a massive exporter. So how more "open" do you need to be? What China needs is more imports so that they can close down a little bit of their production so their workers get a bit of a break. That's incredibly hard when they have a fundamentally backwards ideology akin to mercantilism. China is currently the nation-as-factory-worker for so many "advanced" nations. I'd suggest China stop exporting so much, and make sure they produce goods just for their domestic economy. If they manage a surplus then that's available for export. Exports are the real cost, imports the real benefit, but exports are the price you must pay to get decent imports. The point is to not pay too high a price by making your lowest income workers suffer by making them produce goods for foreigners to consume. If the USA wants smartphones and silicon chips, let the US make them, they certainly could.
In fact in recent news I heard China might slow down a few exports, so maybe they have been listening to these ideas? It might put a little pressure on their exchange rate, and maybe a bit of pass-through inflation, but that's a domestic redistribution issue, not a finance issue. China monopoly issues the renminbi. They cannot ever run out of renminbi, it is the Chinese government scorekeeping system, aka. tax credit.
I love china from Somalia
Please stop sea piracy
@@spiketwo666 pirate is our coast guard. Its our see we can do whatever we want
The more the US is bad to China, the more love Chiina gives to the US. Sounds like my relationship with my wife. 😂
I do believe,, someone has gotten things arss about 😂
The more the US is bad to China, the more love Chiina gives to the US. Sounds like the relationship with my wife. 😂
Although I love Prof Jeff Sach, whatever he says currently isn't said & written down into law by the chinese leadership. we need clarity on words not ambiguous interpretation by various experts. sorry prof. I honestly liked what prof Jeff Sach said but its didn't come out from chinese leadership mouth & not written down into law;
hi
two state solution East sovereignty at UN global confederation God sovereignty
China closed China Sea ⛵🌊
😂😂
Can China?
In Germany, I keep meeting people who see China as the only "evil". That China is ruled by socialism, which Westerners dislike, that the government intervenes everywhere, regulates and reprimands, that everything is copied from the West, that there are unfavorable working conditions and that there is no free market economy a la capitalism, but rather the socialism of the GDR a la planned economy. Incidentally, China had never considered GDR socialism worthy of emulation. These are the thoughts of normal German citizens, some of whom are workers, journalists, etc. Unfortunately, I also hear similar things from citizens of Japan, who, for example, are asked in their country not to buy Chinese products. So many people who believe everything from their home media and reporters, who certainly do not have the opportunity to check all the information they hear and read for facts, facts on a real level, or because they blindly trust everything that governments and their politicians say. China is being talked about badly because, and this is what US politicians say, and this is at least an honest statement, China is too innovative, too far in education, too far in research and development, too far in infrastructure, following the successful path of the market. So now they fear global competition, which until now corresponded to the neoliberal market that Europe and the USA have followed and advocated and recommended, and are now almost on the path of isolation, of intimidation of other societies, and will probably propagate even more protectionism for their own economy. Nobel Prize winner Milton Friedman's theory of neoliberalism is based on the thesis that the first of all freedoms of a free citizen of a society is economic freedom, and that all other freedoms can then fully develop. The theory lacks the essential aspect of the social, that is, that the nature of a person in a society must be shaped by sociality, that people first and foremost have sociality as a starting point, and that this is what makes it possible to achieve economic freedom. Back to the Western image of China as "evil". You are inclined to believe it without checking it. That is why I have a few recommendations that allow you to gain a little more insight into China's economy. Ronald Coase, UK Nobel Prize winner for economics, confirms in his book "China's Capitalism" that China's market economy and the transformation of the economy correspond to the nature of western capitalism. Isabella Müller, an economist and consultant in Berlin government circles, shows in "The Spectre of Inflation" the long development, 10 years of practical testing, of China's transformation to a capitalist market system, with direct interviews with China's economic specialists at the time. Nobel Prize winners Tobin and Friedman were advisors in the 1980s alongside Chinese economic experts to find the path that suited Chinese society. And the citizens of China demand price stability from the government because otherwise they will be very dissatisfied. So no significant inflation rates are what the Chinese population wants, in other words, only low inflation. This is essentially how the Chinese government implemented and implemented it even during the Corona period. The state then intervenes and regulates. Or promotes economic development, for example the e-car industry, through targeted economic policy. And: Germany has subsidized the local car industry more than once: once not so long ago, when sales figures were miserable, through the state-imposed sales booster campaign in 2009, "environmental bonus", also known as the "scrappage bonus", and the e-car purchase subsidy practiced in 2023. This is still running in France, for example. And China has completely abandoned e-car subsidies for some time now and left everything to the free market. And that clearly means that of the 100 car manufacturers that still exist, only a very few will survive. Because the free market in China now regulates this itself. And Friedman's basic insight is that the first priority is economic freedom, and behind it must follow all other freedoms that can then be realized through it. So economic freedom has been achieved in China and remains a goal. China's political one-party system is different from the two-party system in US society. The two-party system in the USA is also different from Germany. The Chinese party knows that the time for a change in the political structure will come, but the current priority is still on the economic level. So everyone, look behind the scenes, stay rational, get professional and technical knowledge, checks on site in China, and then makes a judgement. It would be good if China gave visa-free travel for 3 to 4 weeks instead of 2, because the trip is quite expensive and time-consuming in terms of flight hours. And if you are already there, then it is definitely more worthwhile for both sides: to get a longer insight into China, and China can also show itself more intensively as it is.
❤
China should advance, open on pharmaceutical products, finance, healthcare insurance & education services. G7 do hv some good models to pick up.
And if any of those businesses get big enough in china the state the people's state should own half of the business as it is now
That is how the people do not fail in china
That does not happen in the u s a and is the reason it will fail
@@kevintewey1157The United States will win. That's a fact.
In the u s a moving powers decided that chaos would be a good weapon
🌞
What Sachs believes though is the market should allocate resources. He does not believe in prices and incomes policies, which have worked well in Germany and Japan. A mixed economy does not mean in China what it means in the US. In fact economists dont really undersrand the relationship between government and markets in China as it is nothing like the mix in the US. In fact in many ways the distinction is largely meaningless unless we are talking about very small enterprises. Even then there are all types of regulations which American economists would argue would make enterprises uncompetitive.
Haha Jeffrey Sachs, chief American wumao, with loads of fellow travelers in the comments. Keep painting those mountains green, Jeff!
Keep staying in the cave, Karen.
👁️
china is in decline 😢 Sad
she's giving answers before sachs could answei with his own opinions
He is so annoying to listen him kiss butt . Someone should look into his money
Happy Rising it's crazy to close up a Country for what is supposed to be Unimportant ❤️🇨🇳🦾😇👋
The more the US is bad to China, the more love Chiina gives to the US. Sounds like my relationship with my wife. 😂
The more the US is bad to China, the more love Chiina gives to the US. Sounds like the relationship with my wife. 😂