Wolf: U.S. decoupling from China is reshaping world economy
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- Опубликовано: 5 апр 2023
- "People are very anxious about the direction of the U.S. -- but most of the world wants a strong, effective U.S."
FT Chief Economics Commentator Martin Wolf discusses the perils of protectionism and the United States' place in global trade. 
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It is not the US that is decoupling, but rather, the rest of the world that is decoupling from the US. With much fervour and enthusiasm.
US rates are so high, all third world money is going into US treasuries, so the third world shitholez just don't have dollars for imports. Of course they will try to peddle their own currencies on others and who knows, it might work for a little while like crypto did. But crypto has no value and when people got skittish, that market was immediately wiped out over 3 months. The same for shitholez currencies. There will be that morning with a run to quality and they will go away.
Oh come on. When China teams up with South Africa and Brazil for a joint currency, God bless them, this is going to burn to the ground. It also shows the only countries willing to take RMB are the poorest in the world. Next I expect Venezuela, Argentina, Cuba to join in the BRIC club. Maybe then Mali, Sudan, Ethiopia, and Kenya. What could go wrong? India teams up with China because both are autocratic dictatorships.
💯 agree with You.
You talking nonsense here , who is there to carry the world forward, the whole of Europe is not moving away from the USA, who will follow the mulattos gangsters on the planet, they are number one enemies to blacks on the planet, African will never follow them , the west is the one who created them, can destroy them .
@@bushman1492 Wake up and smell the coffee
The US may learn the truth the hard way the world is changing, you either change with it or get left behind
BS FREE NAVALNY😅
@@skreety0455 BS free julian assange
@@skreety0455 BS free Palestine,
@@madikerirahman3201 Free civilized humanity from Jihad and vile Islam
Yes, Everyone is trying best to decouple with US : Stop buying US debts, Stop using Dollar.
Stop eating hamburgers . Stop drinking. Wear burkas😅😅😅😅😅😅
We in the EU love our American friends
Don’t speak for the world
much respect for Mr Wolf (chief econ. FT) ...but ..BUT its not only the stealing of intelluctual property ..!!!!!! its much more and far damaging ....
lets not forget ; FORCED LABOUR CAMPS , MONETAIRY MANIPULATION , LYING/FANTASY STATISTICS , MASSIVE GROUND AND GROUNDWATER POLLUTION
Get off RUclips. You're paying America just by using this platform
Oh shit Liu. How many more of these posts do you have to make before the CCP promotes you?
Fundamentally... it's "how dare a non-Western power upset our world hegemony"
Both Wolf and Quest share this point of view. Quest more openly. , From the way he mouth the standard accusations of the US Govt and Wolf, more subtly. Maybe Quest can explain to his audience how USA unilateral sanctions against small countries is "following WTO" rules. How USA threatening and actually sanctioning other countries or companies that trade with countries that the USA unilaterally sanctioned is "according to WTO rules". Maybe Quest can also explain why the USA "who follows the WTO rules" lost every case brought up against the US for violating WTO rules and yet he thinks the USA is the "rules follower" and China is the "Rules breaker".
Quest has simply lost his integrity and is now just pleasing his American audience.
*how dare a non-US country upset our world hegemony
Correct. Spot on. It’s simply yellow peril racism.
It’s CNN they hate America.
To be fair, the US would not be okay with, for example, Germany or France threatening its hegemony either ... ditto Russia (and Japan's in the 80s). It's not really east or west - nobody can be allowed to supersede us.
Sharing below written by a Malaysian RUclipsr:
I’m from Malaysia. China has traded with Malaysia for 2000 years. In those years, they had been the world’s biggest powers many times. Never once they sent troops to take our land. China's admiral Zhenghe came to Malacca five times, in gigantic fleets, and a flagship eight times the size of Christopher Columbus’ flagship, Santa Maria. He could have seized Malacca easily, but he did not. In 1511, the Portuguese came. In 1642, the Dutch came. In the 18th century the British came. We were colonised by each, one after another.
When China wanted spices from India, they traded with the Indians. When they wanted gems, they traded with the Persian. They didn’t take lands. The only time China expanded beyond their current borders was in Yuan Dynasty, when Genghis and his descendants Ogedei Khan, Guyuk Khan & Kublai Khan concurred China, Mid Asia and Eastern Europe. But Yuan Dynasty, although being based in China, was a part of the Mongolian Empire.
Then came year 1800, the Century of Humiliation. Britain smuggled opium into China to dope the population, a strategy to turn the trade deficit around, after the British could not find enough silver to pay the Qing Dynasty in their tea and porcelain trades and the doping went on for over 30 years. After the opium warehouses were burned down and ports were closed by the Chinese in ordered to curb opium, the British started the Opium War I, which China lost. Hong Kong was forced to be surrendered to the British in a peace talk (Nanjing Treaty). The British owned 90% of the opium market in China, during that time, Queen Victoria was the world’s biggest drug baron. The remaining 10% was owned by American merchants from Boston. Many of Boston’s institutions were built with profit from opium.
After 12 years of Nanjing Treaty, the West started getting really really greedy. The British wanted the Qing government:
1. To open the borders of China to allow goods coming in and out freely, and tax free.
2. Make opium legal in China.
Insane requests, Qing government said no. The British and French (with supports from the US), started Opium War II with China, which again, China lost. The Anglo-French military raided the Summer Palace, and threatened to burn down the Imperial Palace, the Qing government was forced to pay with ports, free business zones, 300,000 kilograms of silver and Kowloon was taken. Since then, China’s resources flew out freely through these business zones and ports. In the subsequent amendment to the treaties, Chinese people were sold overseas to serve as labor.
In 1900, China suffered attacks by the 8-National Alliance. These 8-Robbers were: Empire of Japan, Russian Empire, British Empire (including India), France, USA, Germany, Italy and Austria-Hungary. Innocent Chinese civilians in Peking (Beijing now) were murdered, buildings were destroyed & women were raped. The Imperial Palace was raided, and treasures ended up in museums like the British Museum in London and the Louvre in Paris.
In late 1930s China was occupied by the Japanese in WWII. Millions of Chinese died during the occupancy. 300,000 Chinese died in Nanjing Massacre alone.
Mao brought China together again from the shambles. There were peace and unity for some time. But Mao’s later reign saw sufferings and deaths from famine and power struggles.
Then came Deng Xiao Ping and his infamous “black-cat and white-cat” story. His preference in pragmatism than ideologies transformed China. This thinking allowed China to evolve all the time to adapt to the actual needs in the country, instead of rigidly bounded to ideologies. It also signified the death of Communism in actually practice in China. The current Socialism+Meritocracy+Market Economy model fits the Chinese like gloves, and it propels the uprise of China. Singapore has a similar model, and has been arguably more successful than Hong Kong, because Hong Kong being gateway to China, was riding on the economic boom in China, while Singapore had no one to gain from.
In just 30 years, the CPC have moved 800 millions of people out from poverty. The rate of growth is unprecedented in human history. They have built the biggest mobile network, by far the biggest high speed rail network in the world, and they have become a behemoth in infrastructure. They made a fishing village called Shenzhen into the world’s second largest technological centre after the Silicon Valley. They are growing into a technological power house. It has the most elaborate e-commerce and cashless payment system in the world. They have launched exploration to Mars. The Chinese are living a good life and China has become one of the safest countries in the world. The level of patriotism in the country has reached an unprecedented height.
For all of the achievements, the West has nothing good to say about it. China suffers from intense anti-China propagandas from the West. Western Media used the keyword “Communist” to instil fear and hatred towards China.
Everything China does is negatively reported.
They claimed China used slave labor in making iPhones. The truth was, Apple was the most profitable company in the world, it took most of the profit, leave some to Foxconn (a Taiwanese company) and little to the labor.
They claimed China was inhuman with one-child policy. At the same time, they accused China of polluting the earth with its huge population. The fact is the Chinese consume just 30% of energy per capita compared to the US.
They claimed China underwent ethnic cleansing in Xinjiang. The fact is China has a policy which priorities ethnic minorities. For a long time, the ethnic minorities were allowed to have two children and the majority Han only allowed one. The minorities are allowed a lower score for university intakes. There are 39,000 mosque in China, and 2100 in the US. China has about 3 times more mosque per muslim than the US.
When terrorist attacks happened in Xinjiang, China had two choices:
1. Re-educate the Uighur extremists before they turned terrorists.
2. Let them be, after they launch attacks and killed innocent people, bomb their homes.
China chose option 1 to solve problem from the root and not to do killing. How the US solve terrorism? Fire missiles from battleships, drop bombs from the sky.
During the pandemic, when China took extreme measures to lockdown the people, they were accused of being inhuman.
When China recovered swiftly because of the extreme measures, they were accused of lying about the actual numbers.
When China’s cases became so low that they could provide medical support to other countries, they were accused of politically motivated.
Western Media always have reasons to bash China.
Just like any country, there are irresponsible individuals from China which do bad and dirty things, but the China government overall has done very well. But I hear this comment over and over by people from the West: I like Chinese people, but the CPC is evil. What they really want is the Chinese to change the government, because the current one is too good.
Fortunately China is not a multi-party democratic country, otherwise the opposition party in China will be supported by notorious NGOs (Non-Government Organization) of the USA, like the NED (National Endowment for Democracy), to topple the ruling party. The US and the British couldn’t crack Mainland China, so they work on Hong Kong. Of all the ex-British colonial countries, only the Hong Kongers were offered BNOs by the British. Because the UK would like the Hong Kongers to think they are British citizens, not Chinese. A divide-and-conquer strategy, which they often used in Color Revolutions around the world.
They resort to low dirty tricks like detaining Huawei’s CFO & banning Huawei. They raised a silly trade war which benefits no one. Trade deficit always exist between a developing and a developed country. USA is like a luxury car seller who ask a farmer: why am I always buying your vegetables and you haven’t bought any of my cars?
When the Chinese were making socks for the world 30 years ago, the world let it be. But when Chinese started to make high technology products, like Huawei and DJI, it caused red-alert. Because when Western and Japanese products are equal to Chinese in technologies, they could never match the Chinese in prices. First world countries want China to continue in making socks. Instead of stepping up themselves, they want to pull China down.
The recent movement by the US against China has a very important background. When Libya, Iran, and China decided to ditch the US dollar in oil trades, Gaddafi’s was killed by the US, Iran was being sanctioned by the US, and now it’s China’s turn. The US has been printing money out of nothing. The only reason why the US Dollar is still widely accepted, is because it’s the only currency which oil is allowed to be traded with. The US has an agreement with Saudi that oil must be traded in US dollar ONLY. Without the petrol-dollar status, the US dollars will sink, and America will fall. Therefore anyone trying to disobey this order will be eliminated. China will soon use a gold-backed crypto-currency, the alarms in the White House go off like mad.
China’s achievement has been by hard work. Not by looting the world.
I have deep sympathy for China for all the suffering, but now I feel happy for them.
Very well said! Thank you for putting my thoughts into words...😊
Try telling that to Korea, Vietnam, Cambodia, Taiwan, and Tibet to name a few. China has a long history of attacking their neighbors and sending in their troops. They've had many skirmishes on the Indian border. They've all but taken over Mongolia. You need to read a few more history books. You sounds like the 2 cent army. Stop your propaganda. Only a fool would agree with these lies.
Those who did that to China now are guardians of this planet and calling China a threat which has to be contained. Duh!
Brilliantly said 👍
"China’s achievement has been by hard work. Not by looting the world." Utter BS.
Blah Blah Blah - US can Print money to the sky ! This is has come to an end !
Actually It is Russia, Asia, Africa, Middle East and South America decoupling from the US Dollar
Who cares if they want to do business with the US they have to use the USD.
They wish
@@stevenhenry5267 not wishing but reality, wake up from slumber because you are sleeping and full of empty ego that’s why they are dropping America dollars/economy like a bad habits they are.
@@stevenhenry5267 I don`t know about them but, I decoupled from US dollars a long time ago.😁😁
@steven henry LOL they are doing it while you are wishing they don't 😂
It is not China Vs. US. It is Peace Vs. War.
When US = War, China = Peace.
This is a very simple choice for all the countries.
China = Peace = Bullsyits AF! 😂
You have said it right , we're dam tired of American peace hypocrisy,tired of wars ,tired of UN necessary sanctions from American,down with dollar,n let peace prevail
yeah, CHina = peace....IF you just stay quiet and let them do what they want....like CHINA occupying territories that fall under the Philippines EEZ, which rightfully belongs to the Philippines....You can also say RUSSIA = Peace IF the Ukranians had not resisted and just let PUTIN TAKEOVER their country...THAT IS THE PEACE THAT COMMUNIST COUNTRIES GIVE....
China and Russia.....peace?!!!😅😅😅😅😅😅😅😅
@@skreety0455 yep, they are PEACEFUL if you just let them do what they want (like Occupy others territories, threaten neighbors etc) lol 🤣
The problem with America is American dictatorship on the world stage and how they use their economic dominance to muscle countries to serve their interests. and the American wars allover the world, everyone out there we are tired of American wars. so, peaceful china that is not a dictator on the world stage, looks much more appealing than the US. if the US does not realize this reality, then they can rest in peace coz there is no coming back for them.
Hahaha China is threatening Taiwan, attacking Tibet, fighting over the Indian boarder in the Himalayas & best friends with Wanted War Criminal Putin. America is an angel in comparison. There is big differences between giving assistance in wars & attacking countries for expansion which America does not do, unlike Russia & China.
yeah I don't understand the western media always say china is "acting" like peace lover and they will be bad news if they get stronger, is it a act or a clear record, I don't know how can they push those propoagandas while knowing history is recorded in detail in the modern society.
The world will decouple from the US.
The US could have done great things for the world, but instead went the other direction. China decided to do what the US should have done along time ago. That's what we are seeing today right now. The world has shifted, it's becoming more balanced.
US has to create more business for MIC, they are controlling US government from behind.
Correct.
Instead of US to acknowledged their errors and rectify it, they are bullying other ways and ordering people around.
If US dare ask people to choose side just like she did in Russia, US is will be shocked at how Nations will dump her without excitation.
The USA lost their momentum when they chose to engage in useless wars in the middle east. Its a lost 2 decade to be honest. It benefits the weapon industry but the rest of the country suffered.
Do you realize that under globalization, which is solely supported by the US military, was what allowed minor economies such as China to grow into relatively wealthy nations?
What the US /West should Really Fear is that China will No longer exchange manufactured goods for Fiat paper .
And what China should fear is that Vietnam, India, Bangladesh, Indonesia would accept that paper once they are replaced as the world's factory.
@@phoenix5054 ALL empires rise and fall .
@@phoenix5054 Vietnam said it's dropping the dollar too. They were sanctioned to death after the Vietnam war and they everyone hates the IMF.
@@phoenix5054
@@phoenix5054 somebody will have to do the shitty stuff now china has moved up the value chain. Why do you think America wants to put a stop to china's advancement.
as a chinese, just make it simple, china is coupling with ME, africa, south east asia, europe, latin america, south american and also north america,
US decoupling from china also means, to some extent US decoupling from the world
and now the world is very eager to decouple from US
China trade partners (exports):
United States: US$582.8 billion (16.2% of China’s total exports)
Hong Kong: $297.5 billion (8.3%)
Japan: $172.9 billion (4.8%)
South Korea: $162.6 billion (4.5%)
Vietnam: $147 billion (4.1%)
India: $118.5 billion (3.3%)
Netherlands: $117.7 billion (3.3%)
Germany: $116.2 billion (3.2%)
Malaysia: $93.7 billion (2.6%)
Taiwan: $81.6 billion (2.3%)
United Kingdom: $81.5 billion (2.3%)
Singapore: $81.2 billion (2.3%)
Australia: $78.8 billion (2.2%)
Thailand: $78.5 billion (2.2%)
Mexico: $77.5 billion (2.2%)
World have been suffered from USA for a long time
As an Indian I love China who give the world a alternative option of USA... Inspiration for all nation from China development journey
You are not Indian
@@mrppsr4731 You are not a human being
@@mrppsr4731you are shameful
Yes, give China all the land they claim from you. Add Pakistan's claims, which is China's major ally.
Exactly
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Wolf gave an excellent view on the US hegemony's failure in economy which the West refused to acknowledge.
🤫 Don't wake up those sleep walking clowns. The cliff is just about 50 m ahead of the clowns.
@Asahi Ogawa Well, please feel safe to live in the US as everyone sues everyone and there's many gun shooting every day killing many guys. The US wants war everywhere and you can go and join the troops to be the American Rambo until you get killed and go to hell.
@Asahi Ogawa another brainwashed, misinformed person
@Asahi Ogawa I'm free to walk down any street in china and enjoy a cold beer on hand without being accosted can you do that in the US with all those freedom?
@@asahiogawa7321 there are some freedom in the Japanese politician family? CCP is worse but not worse than japan Politician family.
Quest failed in his quest and just can’t accept the facts about China.😢
The American people that don't travel abroad really don't understand the influence of China globally, but that's also a good thing..
Or should I say the fear of China?
The majority of Americans are totally ignorant about Asia. When I was in the head office of the company that hired me, I was asked by a lady, whether we were allowed to party in Singapore! May be she thought Singapore is in North Korea. After 9 months in the head office, I returned to start work from the new office and I would receive mail addressed, Singapore, China.
Earlier this year when I was in Hanoi, I met an American who told me his friend who lives in Boston, thought he needed a passport to visit New Mexico!
@@nsng1298@nsng1298 There's not a single american city that's as beautiful as The cities in singapore. Americans have become quite ignorant And arrogant like the qing dynasty.. Just show her a picture of your airport
Most of them think US is the only best place to live, they think there is no other developed countries out of Europe, Canada and US.
@@innocentmushi3036 no matter. Just keep pushing for excellence.
@@nsng1298 lol
Bla Bla bla Established Cheap Chinese workforce is outcome of only surviving option Chinese had being blocked for 70 years USA dare to be sarcastic about Chinese slavery dismissing that basic fact who had black slavery in USA for decades and decades
Blah Blah Blah Established cheap Hispanics workforce!.
Decoupling is not China's loss,but the contrary.
Shhh…
Not forgetting the US have $173 trillion in derivatives, a lot based on retaining economic and political primacy globally, when those bets fail, they won't have enough shirt to lose.
Wanna bet😅😅😅😅😅
"Decoupling is not China's loss"
Ask Huawei about how they went from making millions of smartphones to not much!
@@jarjarbinks3193 ,they're making more than their competitors,and that's all that matters.
I welcome a peaceful power to lead the world. America had its chance to lead and blew it big time.
There's nothing peaceful about China and they won't be leading anything.
Sorry Charlie. One power leading the world isn’t how the UN or Security Counsel work. Majority of nations are against that war criminal Putin, and Xi is on the wrong side of history in supporting him. Future people of the world will judge him harshly for his mistake and stupidity.
😂 a peaceful power, China! A country that locks up over a million Uighur minorities in re-education camps , plans on invading Taiwan , supported the Russian invasion of Ukraine, Hong Kong, one country two system broken contract , border disputes with India, and the outbreak and subsequent cover-up of the covid 19 killing millions. Talk about out of the fire and into the frying pan.
The peaceful power has to have a philosophy of universalism. In ancient time, India had this philosophy of “Vasudhaiva Kutumbakam” meaning the “the world is one family”. Also there need to be an unifying religion which embraces diversity of beliefs. Again Hinduism, the main religion of India is principally called Sanatan Dharma which is founded on the principle of eternal duty and embraces a whole host of diversity.
@@mrinalpatra3980 load of nonsense you are spouting. There is diversity in the world
It's not China has been more isolated but USA.
No wonder you are Wu Mao. Wake up and see what Xi is doing, ha ha. I actually do appreciate what Xi has been doing that wake up all of us. That’s why decoupling starts.
Great to hear something that sounds more like the truth at last
Multi polar world finally ❤
The host is quite ignorant. He said American corps don't like to do business w China. No, it's just their politicians n d medias.
US corps love it. It's 1.4 billion growing market.
Exactly.
Walmart has 438 stores in China. Starbucks has 4,704 cafes. KFC over 7,600 restaurants. McDonald's 4,500 restaurants (and they are planning to open another 1,000 in 2023). Burger King 1,300 outlets. Pizza Hut 2,200 restaurants.Hilton 257 hotels. Sheraton 80 hotels. Marriott 440 hotels
GM sells more Buicks and Cadillacs in China than in USA.
John Deere sales centers are in EVERY PROVINCE of china! They have 15 service centers in Xinjiang alone! Their American-made computerized farming machines sell for up to US$500k each !
Boeing sold over 2,000 airplanes to China, at $200 million a pop? 1/3 of Boeing's production goes to China.
Not to mention Coca-Cola, Johnson&Johnson, Proctor and Gamble, Catapillar, Ford, they are all doing a booming business in China.Hollywood -- 25% of their profits come from China. (soon to be curbed)
Oh I've forgotten to mention Disney, Yes Disney has TWO theme parks in China !There are 40 Disney stores in China. Their flagship store in Shanghai is 54,000 square feet, the largest Disney Store anywhere in the World. Wait, there are more . . . the Tesla Giga Factory ! Morgan stanley Goldman Sachs Citi Blackrock AmericanExpress. U.S. mutual fund giant Vanguard is to close its Japan operations and move its Asia headquarters to Shanghai . . . . . .Have you been to a Formula One car race? They have been running it in Shanghai since 2004!
Yes, we benefit from each other with cooperation, I really hate what the government have done to ruin it 😢
@Asahi Ogawa
Do you mean Olympus, Toshiba, Mitsubishi, and Nissan?
The gentleman is very philosophical 5:25-5:38
Slowly you will realise that Poutine IS the biggest magicien Houdini WHO Turn the Dollar to a toilet paper.
It is amazing how any arbitrary Western propaganda mouthpiece operator, such as the host of this program, has a free pass in throwing around unsubstantiated comments like "China doesn't follow WTO rules" without the accountability to justify what he says with evidence. As Christopher Hitchens said, "That which is asserted without evidence, can be dismissed without evidence". That would be a perfect comeback for this host, who shows amazing mental laziness.
The guest shut that down by saying nobody really follows the WTO rules.
When the anchorman said that the Chinese don't follow the rules of WTO since they joined the WTO, and Mr. Martin Wolf replied," I don't think anyone does.? and the anchorman smile....that make my day....LoL.
Someone honest for a change on western media. Martin Wolf has woken up to reality.
much respect for Mr Wolf (chief econ. FT) ...but ..BUT its not only the stealing of intelluctual property ..!!!!!! its much more and far damaging ....
lets not forget ; FORCED LABOUR CAMPS , MONETAIRY MANIPULATION , LYING/FANTASY STATISTICS , MASSIVE GROUND AND GROUNDWATER POLLUTION
"A slave stood behind the conqueror
holding a golden crown
and whispering in his ear a warning:
that all glory
is fleeting."
The world is changing nobody owns this world period.And I love it .
Actually, its the rest of the world "decoupling" from the US, as fast as possible!
That's why 140 countries supported the condemnation of Russia's aggression?
"Decoupling" from China is a fantasy, and a potentially destructive one if this trade war continues. The EU, which is actually managed by educated grownups, knows better and has no plans in pursuing such a self-defeating economic policy. Reminder: the Chinese have, for the first time in history, surpassed the US as Europe's biggest trading partner.
US is a bank, decoupling bank from a manufacturer and a food producer will ultimately make the bank useless. If visa or MasterCard decouples from your local supermarket, gas or electricity company, guess what, you will find a new way to pay for gas, produce, and electricity . This is what is happening on a global scale
“Pessimism of the intellect, optimism of the will.”
Here's a reality check: Chinese manufacturing peaked at 35% of employment 10 years ago and has been declining ever since. This happened under heavy state subsidies and industry protections. What actually causes manufacturing declines is wealth: when people have more money, they buy more services and less manufactured goods. That means the choice is between creating new wealth or narrowly boosting declining, uncompetitive and nearly defunct industries.
The US needs to spend more resources on helping people adjust to economic change and ditch this nostalgia-driven vision of a manufacturing renaissance. How much economic damage are policymakers going to cause before it sinks in that these policies are self-defeating? The federal government also needs to fund a bigger safety net and more welfare programs -real entitlements for all citizens, not programs directed at certain types of workers in specific locations.
Wolf has it right 👍
I heard the French cinema was going to replace Hollywood in China, the young people love French films.😊
A diverse world is amazing!
The French have little interest in marketing their films overseas. Their distribution channels have rarely gone outside niche for decades and they can't bring themselves to add English subtitles to DVDs and BluRays . Meanwhile the French download US films like crazy.
Success from sweat and blood.
We are decoupling at hypersonic speeds , Africans should decouple with much Fervour as this means total Independence from western neo-colonial trade policies.
Always liked Quest ( especially during his early CNN days)
Great talk, I love Richard Quest! He's a great expert on business, and he's very entertaining and very funny too 😊
The truth is that no one wins in a trade war.
Things must be in a right mess, when martin wolf quotes antonio gramsci
excellent interview.
Saying SouthEast Asia countries side with China even though they have strong economic ties with it is wrong. In reality, Japan, South Korea, Philippines, Vietnam, Indonesia, India, just to name a few, represents 2,100,000,000 citizens, align with USA.
The ground is shifting against the US now. Their approach to conflicts and cause of conflicts put them there. They of course realized this earlier , they tried hurriedly to correct that by withdrawal from Afghanistan, and lowering their hostility by being less direct in conflicts including the Ukraine war but unfortunately it is too late. The die is cast. Look at China mainland vs China Taiwan conflict , China chose not to fight for what they believe it's their own. To China the Taiwan - USA relationship is like someone walking to a neighbor's house and trying to cause conflict among the siblings. No such conflict among siblings no matter how long you try would dilute the thickness of their blood relationship. To a wise parent, they just watch as the intruder uses their resources on his family knowing far too well that time throws punches that never miss.
The US needs to exit Syria and Iraq. They need to do it quickly, otherwise, they will be forced to exit. Things are already happening.
To forego the oil they're stealing in Syria? That's not going to happen!
One has to understand, Decoupling is really champion and enforced by the USA not China. That's the fact
Like every controlling and narcissistic parent ever......."You won't be able to survive without me"................The wise, confident and brave child says quietly to himself "Yes, I can and I will".
1. Originally most of cheap products are imported from China and now they are becoming more expensive (more taxes) 😭 2. Reshaping global supply and manufacturing chain requires time. It took me a while to find a new SUV car available. If this is carefully calculated, what target are we achieving by making these sacrifices? Hope benefits overweight costs.
How can the US decoupling from China be detrimental to the US when its trade deficit with China was over $380 billion last year alone? It's China that is by far the beneficiary, and not the US. If I was a federal policy maker I would certainly not make that gentleman my economic advisor.
Keep believing
The fact that you use the term decoupling is just imperial and coloinal, who give you the right to decouple and suppress with another sovereignty state?
The US has one card to play. "Nice country you have here, shame if something happened to it."
Maybe we should all go back to when England was the global hegemon. They still believe in deep discussion of difficult subjects and the elucidation of absolute truths.
china far ahead in just about everything. most asia dont want US to lead
Great profits of the western companies investing in China was the main driver of what China is now.
Wolf basically saying unconstrainted free market doesn't work.
Go ahead and underestimate the US. People have for a very long time. We will be just fine. We should stick with our allies and decouple from any non democratic governments
Ever imagined a fully decoupled US? 😳... That would be a sight to see... 😳
I like Mr. Wolf. He seems fair not jingoistic
Simplestic view is the only view because this world is filled with simplestic people. DumbMobcracy demands that simplestic view is the only democratic view for the majority.
how to defeat an "enemy" who is better in almost every way? hmmmm, tough question
I like America but I really can’t stand the US government now, why choose war instead of peace cooperation?
Good luck 🍀
About time the world starts decoupling from US !
I agree, but not 100% decoupling.
THANKS MARTIN. TRUTH HURTS. CHINA PEACE TRADE ECONOMIC DEVELOPMENT. NO WAR AND DESTRUCTION.
Pls decouple. ASAP
One important factor accounted for successful economy policy which may have overlooked is nationalism. In a strange way, this factor is hard to be quantified into how it influenced the country economic development.
Nationalism does united the people and their leader towards set national development goals.
After a century of humiliation, they are determine never ever to allow the same things to repeat.
Everyone is serious on education, economic development and defend...
Nationalism,religion and cultural heritage. It has always amazed me that the west pushed for multiculturalism and the denial of religion,expecting to win. Nationalism and religion and culture do not vanish. What a set of fools.
This was brilliantly put together. I've been following your videos for over a year now and with professional help, I'm making progress with my investments decisions.
Never stop dreaming. Be hungry and never stop believing in your dreams. If someone can do it, you can do it. Be strong
US will collapse since they don't produce ANYTHING except Weapons of Mass Destruction......they are buying real tangible items from around the world with their toilet paper currency.😢, And the world is fooled by them, but the world is waking up and standing up against the aggressor.🎉🎉
America needs to revitalize her manufacturing industries.
👍👍
US can't survive without Chinese, they can't denied it 😂😂
So much is going on in the world now to decouple the US etc but in the US, the govt seems to be mostly concerned about BLM, DEI and trans ideology.
Only if you listen to right wing propagandists . Meanwhile GOP politicians are trying to take credit for Biden funding initiatives they voted against.
Western standard is not the standard of this world, period.
Wer hoch steigt, der wird tief fallen!!
you got it wrong, taxes in US are NOT low.
Should've not coupled since Nixon😅😅😅
I think Musk, Gates, Cook, Bezos..etc...should decouple quickly, ASAP. Time is of the essence.
China is far more interconnected with the world trade than the US. The major advantage for the US is dollar hegemonism. However, once you weaponized the dollar it loses its strength as a stable reliable currency. When the US tries to decouple from China it risk isolating itself from the most of the world. The dollar hegemonism will be under threat and the US will feel the pain of its debt as it becomes more unsustainable.
Then why complaining of China dumping your treasuries.
Neither Here nor There. a Typical FT analysis by Wolf.
This CNN host can't even describe BRI Belt And Road Initiative. Looks like many Americans don't know what is BRI. 🤣🙈
Africa Union 1.21billion pax united only stronger, more prosperity, more wealth than EU and US. The Partnership btw AU 1.21bil pax and China 1.43bil pax back to 1970 to today. Alliance of Latin 0.65bil pax with CHINA and Alliance ASEAN 0.66bil pax with CHINA in RCEP FTZ.
Interesting commentary. I think they have been thinking this way for a while, rallying the ASEAN countries and investing in their military basis surrounding China to pursue containment. I don't believe the US, however, has been a great 'global leader' by any means though. It has mostly created a shadow empire and looked to engineer the system as far as possible in its own often misguided interests. I don't see China necessarily being better in that regard, but better to have two players than 1 for sure. I mean the US is supposed to be the heart of capitalism, surely they welcome competition? Although unfortunately capitalism as it actually exists constantly seeks monopoly and the US is a good example of that. It is a bad model in the current era that needs significant transformation. The US isn't going to do it, China doesn't have what it is needed either, but major disruption from climate change and resource shortages this century will switch things up...
He said intellectual property theft has been exaggerated, that is totally ridiculous.
Why us always consider China is thread just because china doesn't want to follow America democracy style? Feeling thread is it America military bases surrounding china in Guam, South Korea, japan, now in Philippines?
Coz American democracy is used for manipulation of other country, through so called free press (which is not), NGO etc, in order to prevent any countries or regions supceding America. Look at Japan at 1980s, and Europe.
Decoupling is the best solution.
Decoupling from the USA is the best option
Would be a devastating to all economy, so is impossible, China is No.1 Economy by now
GOD BLESS RÚSSIA!!!!
The U.S. needs to becoming more competitive and woke democrat policies hinder such.
i dont feel any decoupling.....if anything the world seems to be getting more and more twisted and more and more foreigners are in my backyard.
China has immense problems that prevents it from leading the world:
1. Per person GDP is $15,000 exactly like in Russia prior to Feb 24, 2022 invasion of Ukraine compared to US $70,000. In other words China has a lot to catch up to rise close to US which is doubtful.
2. Any economic data coming out of Chinese government needs to be taken with a lot of grains of salt.
3. China has a rapidly aging population and one child policy is not mandatory any longer but still practiced therefore population will continue to be reduced in decades to come like last year.
4. China's economy is largely dependent on stolen US IP therefore it cannot thrive without a prosperous US that produces a lot of IP.
5. China's outside investments have not paid off and the losses are in the hundreds of billions of dollars with much more losses expected in the future.
6 Chinese military although big in numbers is poor in trained troops and quality of equipment and annual budget is one third compared to US military.
China (communist economy) and the US (Market economy) are two different economic philosophies that could "never reconcile". China and the US did cooperate in Mao's time because 1. China is poor and they "needed" to feed a billion people with no resources. Rise their economy to the level of the US so that they can outpace them eventually. The US needed "cheap labor" to sustain the economy. These are the basic needs and they both cooperated and both needs were fulfilled. World markets expanded and there are other countries that are less "problematic"! 1. China wants world domination, by any means?
Hitler once tried that.
USA does not want world domination ??????
If I have to choose between the lesser of two evils ...I will Choose to go with China.
Almost all allies of the US have suffered a lot. USA and UK even tried to Attack India from India Ocean
When you put Hitler and a reference to current China, you are totally lost you. There's nothing to rebuttals to your argument.
bots really out on this one lol
Anyone willing to put a ticking time bomb in their own vault?
US preoccupied ? 😂🤣 No, the first variant was the good one - the US lost its way.😈💯