Will China become the centre of the world economy? | FT
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- Опубликовано: 26 июл 2024
- The global economy is shifting away from the US and Europe towards Asia. The FT's global China editor James Kynge and FT economics commentator Martin Sandbu discuss whether China will dominate global commerce or whether the world economy could split along regional lines
#china #chinaeconomy
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Who can change the mess we are into now? with this crash I'll say it wont be too easy to pick the right stock, Jim Cramer said there are still huge opportunities despite the crash, and I overheard someone talk about making $250k from about $110k since the crash. How do I make these kind of returns?
obviously, there are numerous ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
@@ReidCoffman1 I started out with less than $100K and I'm just $30,000 short of half a million in profit.I've been getting assisted by a coach for almost a year now.
@@AshtonGrace Impressive! can i get any good and competent FA to guide me?
@@stevencooper7818 Surprisingly, She is an Advisor I found through a Newsweek report; "Autumn Lynzi Smith", you can google her for more info.
Beginning of video felt as if they were warning of an apocalypse.
Because a globe dominated by the CCP is not really a good timeline
maybe they hired BBC team to produce this video
This is how western media works. Filters and aggressive editing to force a narrative.
@@arbynChief617 for people in the global South, I think they prefer a China led world of rapid development than an Anglo European led world of war and death.
@@vincentdesun I wish I had more access to Chinese media, because then I would get nothing but the Truth.
I am in South Africa. China is doing so much investment and creates so many jobs in all of Africa. Even in South Africa they are developing new mines, are involved in agricultural projects and many more projects in all forms of industry. China is not just doing this in Africa it’s also involved in Asia and even Europe This while the US investments and exports into these countries did not shirk it became nonexistent, but that’s capitalist greed. The digital Yuan will replace the dollar.
Based on your comment you are either a 50 cent OR haven't looked at these Chinese "local investments".
If it is the latter, check out what happened to China's investment in Sri Lanka
Most of those local investments are not directed towards the development of local economies, but instead structured so as to benefit Chinese investors. Most of the project contracts involve the import of Chinese laborers, use of Chinese capital, and Chinese-manufactured equipment, along with an extended period of 'leasing' whereby countries don't have sovereign control over the infrastructure built for them. There's a reason that Sub-Saharan countries are starting to play World Bank, IMF, and ERB loan packages against Chinese state offers and refusing import of Chinese labor.
@@camadams9149 Srilanka is developing their ports with Chinese help,wherein the western countries only exploiting their wealth. Opposition in Srilanka sides with others to tarnish the development of their country.
@@camadams9149 , Do you REALLY understand the issue regarding Sri Lanka? I doubt so. The controversial port was not originally created by China nor her financial resources. Only when Sri Lankan realized they could not proceed with their plan they sought China to help out. Of course Chinese banks apply the same guidelines like all other financial institutions when others refused to assist! China is given the right to industrialize it, which of course , whether successful or otherwise is left to be seen!
nope Euro will be first
how did China do it? Answer: Not following Washington Consensus Document...
washington consensus is dead anyway.
XD
Because we gave it away looking for cheap labor
That one reason down, now couple dozen more to go
Thanks to US capitalist needing cheap labour. Thanks USA.
Damn bro, do people want China to be poor? I am not crazy about China, but everyone seems so uncomfortable with that country becoming advance.
same as usa,see the anger from the middle east and south east asia.
also africa.
It's racism basically western countries can't allow someone who isn't white be better than them.
White privilege particularly
China is agressive against its neighbours countries so it's not only a threat of US hegemony also threat for peace in Asia . The main difference in the near future between US and China would be their allies.
The world would not be peaceful until it becomes multipolar not the bipolar 👍
In the event of regionalization, it's the incumbent global economic hub and middle-size countries who suffer most. Large countries with huge domestic markets will endure better.
You reckon China will do better than Europe. Europe market is currently 30% bigger than China's and the biggest country Germany is just a fraction of the size of China.
@@Andy-P the eu as a block in the long run won't fare well, their populations are old and fertility rates are low. However, the EU block gives them an advantage as they can trade with each other like they are one nation. China and the US will also be fine because they have the ability for economic self-sufficiency, maybe China will still need to trade with OPEC countries for oil but that is pretty much it. The countries that are screwed are trade dependent economies like Malaysia and especially Singapore because the country is so small it doesn't have domestic demand and relies on foreign trade and if that lifeline is cut off the country dies
@@Andy-P Decreasing demand from China is already starting to drag asia down
www.cnbc.com/2018/11/10/trade-war-if-china-domestic-demand-falls-much-of-asia-will-get-hurt.html
@@raghuvenkatesan6792 It sounds in the future the end of global trade. Not good news for China which is still a demand side economy. At least currently there is trade. How will China influence the world without it's soft power, maybe it will be using hard power instead.
@@Andy-P nah china will be fine they will switch from exporting to other countries to simply producing for themselves, they are already taking part in this transition bc of the trade war with the US. They will need hard power to protect their shipping lanes from Iran and other oil rich countries but that's pretty much all the trade they need
Asian holds majority of the world economic growth while the west debating about which bathroom should they use
哈哈哈哈哈
Damn man you are so right idk why those news about China keep popping up everyday. Like if they become richer good for them let them be. Can we focus on our own problems? Like the US is littering falling apart for the majority commons, especially after the pandemic, bad weather, etc. and all we talk about is China China China!
Well, one US president once said: the world does not have enough resources if Chinese lives like Americans, so China must be kept low (making socks with meager wages) to keep Americans high (enjoy marijuana with gun-ship money).
The US needs to work on its domestic issues(debts, homelessness, and other issues) since this will affect how it will able to deal with the world.
China has more problem under CCP and they just hide it with their propaganda
@@chuckpioneer1783 sure, we will collapse very soon *look at the watch* any time now
@@chuckpioneer1783 yes,I am chinese, i think we know better than you, anyway thanks for your caring, we support ccp, ok? if you do not like, no matter that, because Chinese do not care if you like or not like!! Understand me, you can still live under your foolish news to know real CCP, anyway, I think CCP is 100000 times better than your government!!
@@shengyunliu5055, It’s your right to have an opinion so I won’t argue that you’re wrong about the CCP being better than other governments. However, with that in mind, don’t you believe that those in your country that think for themselves, as most Chinese do, regardless of what those thoughts are should be allowed to do so without being arrested?
@@TheUser808 In other words, fuk your FREEDOM AND DEMOCRACY. Why do you speak on behalf of the Chinese ppl? What do you know about Chinese ppl? Let me ask you this, arent US ppl allow to walk on the streets at ANY TIME without being SHOT or racially discriminated? Oops, sorry, I forgot that all you need is your DAM FREEDOM.........
China has succeeded because its neither communist or capitalist. There have been many countries that have tried to just deregulate and go for neo liberal fundamentalism and end up with chaos and inequality. China is mercantilist, state planner and laissez faire at the same time. Its something different.
Spot on, dude.
Sadly, I don’t think even 20% of the commenters here understand half the economic models you’ve mentioned.
@@kindface But its really works very fine,The government has the guidance, and the non-government enterprises are also very dynamic and dominant. The breakthrough point for each industry as planned by government is the Chinese model. The government is indeed strong, but in the overall situation, it is really the right choice to make with no evil. This is why China has made all 30 years. Going right, and the reason for the rapid development. Many people in other contry have to choose 1 from 2 or reject each other, which is incomprehensible.Free with all indusry is not best choice as economic
They succeed. But with the price of very shitty individual freedoms and totalitarian control/surveillance of the population. No thanks, I take other options. It's a good country for politicians and power, not for common people.
He is more about using traditional Chinese culture to maintain a balance in the movement between the two economic systems.
China just came out with a better tone toward their tech industry and markets. Assuming that geo political events do not get worse between the USA vs China. I am making a Long term asset accumulation bet on BABA.
Yep, good Talk. 2022 will be a rollercoaster for sure. Stocks valuations are at an all time high while at the same time we have the threat of inflation, rising interest rates and supply chain and productivity issues to deal with. Something is going to have to give. I think it will be the Markets that will have to correct. How much and when - who knows. Sanity hasn't prevailed in this bear market and I suspect it wont prevail in a correction/crash.
I hope everyone have their cash ready to jump in at the right time. Secure your financial future with calculated moves. The stocks market still remain your best bet in becoming a millionaire.
in order for us to prepare for the future we need to look into safer investment with good prospect . If you have the mindset of investing 5 years ahead and just keep DCA every time you get paid. My portfolio have accrued gains of about $130k under the guidance of my investment -Advisor "Nicole Ann Sabin" whose skills in portfolio diversification are unmatched and client-centered
@@marianparker7502 The crazy part is that advisors are probably outperforming the market and raising good returns. I will give this a look up, lucky i stumbled on this thread.
FT is owned by NIKKEI Japan, a voice for G7 only.
Most of the news from western countries, Japan, India and Australia are covering only negative news on China. The facts are okay but often based on propaganda and jealousy.
martin speaks as world belongs to "western" countries and that is a BAD view to start with.
definition of "rule based world"
With the current times. Pick one, a bumbling idiot of a master, or a vengeful master that the only thing that they want to do is subjugate the rest of the world because of their enslavement of their ancestors. China is the latter, if you think this isn't true, no this is literally their master plan, they want payback for every fuckery they ancestors get for our ancestors. Mercy isn't in their books. So if you think that a good master stay silent.
The real treasure of china is not communist party. The real treasure of china is a chinese people
@@peacechan4500 This seems true, especially if you see from the perspective of former subjugator who is now afraid of being subjugated.
@@peacechan4500
That's an odd view. It's something I would expect from Africa not China, as China has been the world's superpower basically since civilisation. This only ended when Europeans subjugated everyone, not just them.
Export accounted for 40% of GDP of China in 2000, but now it's only 18%. As a comparison it's 12% of GDP for US.
China knows to be a major power on the world stage, you cannot depend your GDP on others. The government actively encouraged the growth of their own internal market.
So despite their enviable growth in export markets in the past 20 years, their growth of its internal market is even more amazing!
Agreed
Yes,people literally forgot how USA became a superpower,since they declared war on japan,it is no more dependent economically expect for raw materials like oil,as we saw in oil crisis
Did not you know
China will fail
@@Slimjimmagoo yes we will fail, i am pretty sure. we are good only in the propaganda. Thanks for your kind observation. when i was 20, i heard our country will faill, now i am 35, still wait for the final fial.
Analyse this :
During the Ming and Han dynasty, the middle kingdom was the superpower .
It had the greatest land army and navy. It had rockets and cannons.
It had invented compass, seismograph, silk, gunpowder, printing press and so on.
Admiral Zeng He of China had explored much of Indian ocean routes centuries before Europeans.
Yet.
Chinese choose not to colonize India , Europe and Africa.
They choose to ignore the world.
China stagnated.
Nevertheless, today's China is a different China.
It has global ambitions which could trigger confrontations.
China Pakistsn Economic Corridor CPEC is one of them.
But China will NEVER be the centre of globalisation because it is not in their DNA.
Trying to get my head around all of this. What do you think about the recent failings of the many building companies collapsing. China is also very secret, are they fooling the world? Are they robbing Peter to pay Paul? I don’t know much about economy but look forward to your insight
"Chinese choose not to colonize India" wtf do u smoke before writing such unintelligent comments?
@@intuitivediane The Chinese government is killing chickens to show the monkeys (other real estate developers) to abide by the government's advice, the Chinese government will solve this problem, China is state capitalism and China's population is very large, Chinese people like to buy houses This is different from the West
I think China’s global ambition is to trade. This is in their DNA since thousands years ago Han dynasty built the Silk Road and brought prosperity and technology exchange through Middle East to Europe.
Hey iodex smoker, India was ~25% of world economy and the most powerful or the second most powerful and rich nation for most of history. So, China colonizing india is like China colonizing USA today. Dumass.
The key question is will you accept the fact that China will become the centre of the world economy?
The key fact is the West is still in denial.
I say, let them.
They are desperately struggling for that. It's reasonable for them to be anxious. After all, they have dominated the world since the Age of Discovery and the industrial era. China is still not yet to be the center of the world economy, but along with its technological advancement, it would certainly squeeze out high value-added revenue from the West. While the process would also accelerate the progress of the RMB internationalization since the trade invoicing and settlement would be conducted in the RMB of their export goods. In nutshell, not much time left for the West, and they would surely ramp up their speed in impeding China from further development.
@@waloysius8054 The tactic the West is using against China is the same age-old one they had been using against others.
The Chinese are not the Chinese if they do not have 5,000 years of experience under their belt, and if the West think they can successfully tackle China using that simple minded trick ... brace yourself for what will eventually happen.
The West seems to think they have all the solutions for all the problems of the world and that they are the only one who knows how to kick others in the chin.
Well ... let's see how the West gonna kick themselves in their own chin.
Not a problem. As long as they keep their commy crap to themselves
I do
Why this ominous sound effects?? Without it you are going to look more impartial.
did you check out Martin's watery, protruded eye balls?! China's economic rise, albeit over some two-plus decades and having much to do with exporting to a gigantic US consumer base, is still very majestically spectacular!
It's mind boggling to think that China is more populated than all of Europe, North America and Australisia. (plus other nations)
And their not all Europeans Blood. China all Chinese lol.
@@yungunit8299 and? The only thing that make the US all more jealous. They are homogenous yet they can achieve this. The US wet dream (all white)
@@daisuke910 USA genocide.
1/5 of the world population, how can they not be rich? They took more than 50 years to reform and step up again. The New generation is ignorance of their might in the world as they are born when China is at its lowest. What is best in China now is the Chinese welcomes all Race (not religion LOL) and treat all race nicely, unlike US and Europe who still lingers on their superiority base on history of colonization and mistreat other races. That is the most shameful part of European history (Worst era for Human Rights).
India too
Software engineers often argue about programming languages, which is good better or the best. One computer guru said, there are two kinds of languages, one is what people use and hate, the other one has no users, now, stop the talk and go to write some code.
what does this even mean
The failure of such videos is just limiting reasons for a countries rise to good decisions in the economic field. That is too simplistic. The cultural, political, past failures and overall ambition isn’t quantified.
At about 7min on, this piece discusses the technologies that China is already preeminent in. These are already shaping the future for the rest of the world. So even if the US or EU strengthen their respective roles as regional trade hubs, they will still be reliant on China. So the question is redundant. China already is at the centre of the world economy.
You only have to dig a little to see the extent of investment in the US and EU coming from China-based companies and investment houses. So something can be made in the US or EU and exported to markets where they dominate, but China still makes a profit.
The West made a Faustian pact, arguably in the late 70s, to create growth and prosperity (or an illusion of it) by financialization (aka making money from money, or usery). But someone still had to make the stuff and Deng Xiaoping was at the helm and ready to go.
@martycrow you got it right. the best explanation about china.
the western people need someone to the dirty stuff..
then the late "Deng Xiaoping" got a big idea and a lot of people willing to do it.
Absolutely right. Finance can only be so useful if it can support real stuff.
Wumao
To put it bluntly, I think the Chinese mindset is we will just keep on doing what we
have been doing for the past decades and we don't give a crap about all the forecasts
being put forth. They are not competing with anybody but themselves.
The China GDP per capita is still far from the west.
The Chinese just want a better life standard for themselves, and they do that by working hard.
I think the emphasis on hi-tech in this article is misleading. China's most emphatic growth in the last 40 years has been in transport infrastructure, construction and most importantly, agriculture. Check out all the videos showing worldwide production of a vast number of commodities where China leads the world in production. Although these have external trade implications, their most important aspect is in internal development and stability, which is now irreversible.
Their own space station, landing on mars, artificial sun, 5g, supercomputer... Need more examples?
Despite the judgement on different political systems, it is simply how hard-working Chinese are and how much each family invest in education, that truly makes the differences.
That is not how a country develops. Education is one factor but there are many other factors.
If we were to just go back to 500 years, its not hard to see that it was regional trade then. Italy in Europe; Persia (today’s Iran) and China. Each were regional hubs by itself but yet they traded via the silk route.
What changed is there is now the US and the Americas.
Chances are if the Europeans are smart enough; they will leverage both the World island with China building the infrastructure like the speed rails and with the US-Canada in the Atlantic.
Europe would be foolish to miss this great opportunity to regain its position in world trade!
Yes, Europe can regain its position in world trade by decoupling from China
No more competition against slave labor and currency manipulation
@@camadams9149 oh come on...have you learn economics at all?
Based on your logic, Europe will go back into the dark ages or the back water of the US...Europeans doesn’t want to be push around by American Presidents; less so to be shove aside.
@rum distillery the glass is half full or half empty... so sad you chose the latter.
@@alfredyap14 "Europe will go back into the dark ages or the back water of the US"
In terms of technological develop and commercialization, it did. That is why Europe lacks massive tech companies.
However, that did not decrease standards of living because they have a high value economy and focus on standards of living.
The US doesn't use capital to ensure high standards of living. It is all sunk into business
@@camadams9149 Who pays for the high standards of living? Money doesn’t fall from the sky.
I like their attitude, not judgmental and negative to China's development. I left China twenty-three years ago. I must admit that I could not recognize this country anymore. China indeed made a lot of mistakes and will certainly make mistakes economically, but China will certainly make more positive contribution to the civilization of this globe based on what having been achieved there.
@rum distillery have you been to China to get First Hand experience before you show how bias and judgemental you are.
So sorry you have been brainwashed by propaganda media to make you think you are a superior human.
What makes you think the things you like and appreciate are the things other people will and should like ?
Be more humble and accept that other people have other preferences. We are ALL EQUAL in God's eyes.
So pls go into your room and reflect.
@@allwinyay6085 very defensive 🙄😂
@rum distillery This is your imagination but not truth, you should go there have an authentic experience and then you may realize how ridiculous and wrong of your speech it is.
@rum distillery I agree with your ideas. Taking recent Henan flood for example, CCP is trying to hide the true death figure. Feeling shame for that. Believe me, this is exactly my first hand experience
@@allwinyay6085 Sir, actually you are far too wrong.
In principle, the economic is the fundamental which determines what appropriate politics or ideology is, if it is matched, the economic development will be propelled by politics and ideology. In terms of human society development, capitalism is fit for poor economics to be developed to rich economics, while socialism is fit for rich economics to be developed further. China was initially of pure socialism and once introduced partial capitalism to accelerate economic when it was poor, however, with the development of economics now achieved, more socialism and less capitalism is needed in order to fit nowadays economics development, common prosperity is certainly direction of socialism, which will definitely propel current China economics again.
Now a days we are social have lots of plat forms but we financially dependents...
Hi Financial Times, any chance this interview is documented? I'm writing a paper on this subject but RUclips videos are not considered. Would you have this piece in essay format or as a transcript, please? Thanks!
The discussion is not spontaneous, i.e. they're both reading off a script. Well prepared.
The real treasure of china is not Communist party. The real treasure of china is a chinese people
Interesting most people don't understand the market moves and tend to be mislead in facts like this and depend on money in the bank. Very bad idea
@Linda Luke well, some folks actually have money. It's even easier to make money now than before. So many online jobs you can sign up for and even work from home
@@williebobby1773 yeah, true. That's crypto, stocks, forex, affiliate marketing etc
I started trading crypto recently, it hasn't been going well. 🥺
I wouldn't want to loose more money
The bipartisan view in Washington sees China as a threat to the United States’ long-standing supremacy, but Southeast Asians, Africans, Middle Eastern and many South Americans generally accept China as an important partner for their development plans.
I would say in most countries except America and UK. Aussie is bullied by America like other Euro
lol yes because they are poor, corrupt and also dont have a democracy
Lol china is despised in south east asia due to chinas rampant theft of sea territory. Nice try wumao clown.
@@mikeross8506 Hello, American cents. Has China invaded other countries like the United States, overthrew the legitimate governments of other countries, and massacred the defenseless people of other countries?
Kind of I mean it’s a modern day form of imperialism
sick ominous strings track, where can I find that?
Martin has repeatedly emphasized that the world will become more regional and China will not become the center of the world economy. The most obvious manifestation of the regionalization of the world in the past was during the Cold War between the United States and the Soviet Union. That was because both the United States and the Soviet Union regarded each other's camps as mortal enemies. This is very different from today's situation. China does not want to play such a political game, because it will not do any good to itself, it is just a waste of energy. China believes in free trade and uses domestic policies to protect the survival and development of national industries. The problem now is that, in order to contain China's development, the United States believes that it should create walls between countries. The United States has abandoned the principle of free trade that it once believed in, because the United States lacks competitiveness in free trade. The premise for the United States to abide by the rules of the game is that the United States enjoys a huge advantage in the rules of the game. When the United States needs to compete on an equal footing with others, the United States will withdraw from the game, or simply smash the game table. But for the other countries than the United States, a game with rules is beneficial to everyone. Otherwise, how to ensure the order of the game?
I don't think that the US's sabotage can be fully effective. Although the United States has taken advantage of the media to discredit China for a long time, it has given Europe a negative impression of China. But the political purpose of countries is to seek benefits, not to play with the United States. China's huge consumer market and the high quality and low price of Chinese products are irresistible to the world. If a country must abandon its trade relationship with China, it will only create obstacles for its own exports, increase import costs, and increase the burden of national living and consumption and industrial production costs.
In the end, the United States can only face reality and face fair competition.
Chinese culture is very meaningful. The goal of the Chinese people's efforts is to allow themselves and their families to have a better standard of living, just like the standard of living enjoyed by people in developed countries. I don't think China is interested in becoming a world economic center. This is not China's development goal, but it may become a natural result.
Boy Kulot
You obviously have never heard about the ancient Chinese philosophy
1. “wu yu ze gang”, meaning being stronger without so much desire. It warns people to be focus on the original target.
2. “shi ke er zhi”, meaning the wise people know where and when to stop.
China and 'fair competition' is like oil and water. You don't know what free trade is nor what international trade laws are.
M
墙外的世界很有意思，它们眼中的世界都好像是它们想看到的样子
@@llg4116 ah yes, and everyone stays wise in front of benefits?
people do not move their companies to places where they cant be trusted
VW, Siemens and many others have been in China continuously since at least the 1980s. I wonder if they can trust Chinese officialdom. Pssst, rhetorical question.
Do you own a company? Are you speaking out of personal experience?
@@kindface You really have to close your eyes tightly not to see the change in relations with China that has been steadily emerging for more than a year. Decoupling is happening.
Lol there are hundred of thounsends of companyes in China
@@fabp.2114
I do see, my friend. But more than that, I also understand what is happening below the surface. These companies that are leaving are a natural attrition. They’re not able to stay viable. The narrative in the west is always that their companies are beating a retreat from China because of unfair commercial rules, market sectors still remaining closed, etc, etc. Their Chinese competitors are subject to the same market rules and environment and yet they not only survive, many even thrive. It’s the intensity of competition. These American companies can’t hang in there long enough to sustain the economic bleeding because of the imperative of shareholder expectations. The no. 1 reason they can’t compete is that they always go to China expecting the Chinese consumer class to swallow whole whatever products and services were selling in their home market and were unwilling/unable to tailor to the Chinese market. That’s why FB and Amazon retreated; not the red herring about the market rules being unfair because it’s the same rules that Tencent and Alibaba’s had to play by. The Chinese companies just know the tastes and the nuances of the Chinese consumers much better.
China just come back its original position
Talks about Communists and talk in the same sentence about Deng Xioapoing, the biggest capitalist in China
China is not really communism since 1978, China is now a One Party ruled state Capitalism country
It’s a very complex mixed system
The topic, and content of this video is probably the most important in regards to globalisation at the current moment. The final 30 seconds where it's mentioned that if there ever was an "amalgamation" of all the world's economies there would be mass protectionism, etc, is very important to understand. Indeed the idea that one country will essentially be the center of the world's economy is wrong. There's too many other "players", and midsize countries ,i.e Mexico, Indonesia, Nigeria that won'e be the biggest players, but "mid-size players in an ever changing world economy. The chart showing the 3 main areas of trade was very important. 1) EU with Germany at its center 2) North America with the U.S at its center, and 3) East Asia with China at its center.
More than a billion Chinese knows how to make money and knows how to spend the money.
@SK Law and ? living costs there is extremly low. I was shocked how low it was when i visited. Taking 4 peoples to a very good restaurant costs me way less than a friggin burger king or Mcdonalds here in germany. Train ticket ? 1/10th of the price here etc.
@@semiramisubw4864 Yeah and the only downside for you was the constant smog, undrinkable tap water, no food safety regulations, no building safety regulations, overcrowded living spaces and closet sized apartments, and no employment standards as most employers demand you work 9am to 9pm six days a week if you don't have a degree, and if you do have a degree make sure it is a western degree as most employers wouldn't wipe with a degree from a Chinese university. That's why all the rich Chinese come west to get an education. The other billion are practically slaves working 12 hour shifts six days a week with no sick days. Some "workers utopia" lol
@SK Law that’s just not true , I guess you never been to China. The minimum wage of all provinces of China are around 2000rmb/month, average Chinese with no skills makes about 5000rmb/month which is about 800usd , while China govt intentionally keep the RMB at least 50% lower than its real value. China Premier Li Keqiang made that statement so that stupid US and other western govts still think China is weak.Common western ppl can not understand Confucius wisdom of creating illusion for your competitors
@@semiramisubw4864 I m curious which “very good” restaurant you took 4 ppl to which cost way less than Burger King ? Do you know how much is the rent for living in Shanghai and Beijing , Shenzhen etc? BTW the food and transportation costs are low is a blessing because our govt did such a great job in creating the best High speed railway network in the world , while producing more than enough food to feed the 1.4 billion ppl, very low inflation for such fast economic development so everybody here can live a comfortable life
@SK Law But poor people can find happiness too. Their market is much tighter and vibrant. Happiness can be achieved in many levels
Technological gap between China and US+Europe will narrow further in near future, sanctions by US and partners on use of their technology by Chinese and attempts to decoupling of supply chain will accelerate Chinese endeavour to develop core technologies themselves to reduce their dependence on US and Europe.
Chinese belt and road initiative is a well thought long term plan to rope in all under developed countries under Chinese influence, it will provide an alternate uncontested market to China , in coming decades we will see development of a parallel supply chain, new centres of scientific, technological research and development under Chinese and Russian leadership. Middle sized countries in Asia and Africa will be playing important role.
US already knows this before the tech embargo. It’s not about stopping China, it’s about not letting China surpass the west which will make the current leader/political party look bad
As long as China did not surpass the west in the current administration it will be the next administration’s problem
@@zeusfriends china only owns 1trillion in amarican bonds, 1 twentieth the gdp of amarica lol i think they will be fine. it wont be like germany after ww1
@@zeusfriends im fairly certain chine owes twice that to foreign investors anyway lol so it would even be feasible to try something like that haha itd be suicide
Secretive Giant TSMC’s $100 Billion Plan To Fix The Chip Shortage
ruclips.net/video/GU87SH5e0eI/видео.html
Go get yourself educated. When has China ever dominate andy high technology ? These FT guys are moron and delusioned.
996 is the number one driver of their success.
i disagree with suicide, oppression and depression, at the cost of the health of the planet, as any definition of success. they are taking the whole world down the drain with their simple minded communist ideology
@@thegoonisgood77 Good point. I should have said economic success. Still my comment was short sighted. Just wanted point out the incredible hard and heroic work of Chinese people. The CCP loves taking credit for it.
5:16 the statement that the US is the world leader when it comes to median income (household or per-capita) is false. According to the World Bank/Eurostat (International Comparison Program/World Development Indicators database) the US is number 10 by GDP per capita (PPP), Luxembourg ranks first by close to double. Also the graph at 5:26 is misleading and supports the false statement made earlier by not including any economies that performed better then the US when it comes to GDP.
Thank you, gentleman. Well informed discussions and insights.
Of course it has to have depressing and creepy background music lol
A more appropriate title should be: Will China become the centre of the world economy, again?
Or: "How long until China again becomes the center of the world economy?" (Creepy music intensifies)
Under CCP i can't live
@Alchon Xiontes yes, for the last 1800 years.
England will have to get involved and not allow china to become the dominant country
@@johnbuffaloiam9741 Absolutely. Who else can beat English humour after all?!
Too late for the US and Europe to separate their economy, trade and supply from China. Most end-consumer stuffs probably has been produced in China in the last decade. So US and Europe will get the effect on that.
US and Europe probably don't want lose the ground on their high-end for B2B products...hence, this separation!
The momentum created by the Chinese labour force is so strong, the world cannot stop China from being the centre of the world's manufacturing hub.
The only other country which could have changed China in terms of labour force is India but it is at least a decade behind China.
2021 starting. This will be the decade of India. Wait and watch.
@@shubhamflame that's if, corruption doesn't destroy India first.
I dont think it's only a decade. If you do the math realistically it might take almost a century
@@shubhamflame India will only rise when you have a very very strong leader if not you just have to wait.
India is a century behind and will go backwards. The current gov is clueless and only works on hate, divide and rule policey. Sorry but that is reality of india at the moment.
Why would it be a bad thing for decoupling and regionalization? It helps have more secure and stable supply chain. And therefore a more secure and stable global economy.
so they don't need each other .and then they feel free to nuke each other.
really? a dual party world would probably cause more conflict, look at the cold war for example
@@vinceasaka481 That's a ridiculous assessment. The only country causing trouble is America. And there will always be international trade even with a regionalized supply chain.
@@Alex14Wolf - Please elaborate. I’m curious how the US is the only aggressor here.
@@TheUser808 It’s very simple USA has been in more wars than most developed countries.
They are the centre of the world economy. And its going to be like that for the foreseeable future.
Just assuming your initial premise is correct, since when is 2050 not the "foreseeable future".
In 2050 39% of China's population will be retired. Additional, anyone under the age of ~40 is a single child.
So yah...... might want to get better at predicting the future
@@camadams9149 You underestimate the Chinese and used old stale ways of judging.
China has shocked the world by being able to rise from abject poverty and was way way way behind the western. Powers and USA.
BUT unbelievable to be no 2 economic powerhouse.
Unbelievable to be able to have its own space station with WIFI... only 5G allows communication from Space Station to Earth.
@@allwinyay6085 Lol what a joke. China’s self reported GDP per capita, adjusted for cost of living, is barely above the US poverty line. China just made the poverty limit so low that even a unemployed homeless man would be considered well off
@@allwinyay6085 Yes. The CCP, starting in the late 80s, did a good job using their authoritarian power to implement the well studied process of industrialization.
Before that, they repeatedly, catastrophically, failed, while attempting to create their own policies.
"only 5G allows communication from Space Station to Earth" So you don't know what 5G is. The properties of the wavelengths used in 5G allow for almost no latency and massive data throughput. It's properties also limit 5G range to about 1,000 ft aka it can't be used to transmit a satellite uplink
Did the last G7 summit show the regionalization resteicted to only these 7 countries? Hence is it the end of globalization leading by the US?
@FT What's your view upon Peter Zeihan's view on (the decline) of globalisation?
This seems like an idiotic question. All you have to do is look at the bottom of everything you purchase these days. Why are you so far behind the times?
They're not. You are though... They're rehashing content they've already done. They'll continue to do it as long as it brings viewers/readers to the site.
look at their demographics
@@BobbyJ529 your comment makes no sense.
So true. I live in Germany. Most of stuff I buy on Amazon.de are from China. There are some German brands, but when receiving their stuff, checking carefully, you know they were made in China. (to be fair, those brands might design the products themselves, but when manufacturing and assembling, all come from China).
@@oceanwave4502 thanks for the intelligent reply. I am of German Heritage and damn proud of it!
Great piece! I especially liked the graphics shown around 8:50, thank you Financial times!
Thanks for the interesting analysis, FT.
Eurasia as a wide, busy, trade corridor could be a possibility in the not so distant future.
That’s what the BRI is all about, a multi-physical infrastructure of trade, commerce, business, investment, development, multi-national corporate/national agreements. Free and independent of 20th century US/political/ petro-military dollar sanctions. The 21st century will be a fully globalized economic agreement system independent of 20th century “nationalistic” (US/dollar, Fed-Reserve, IMF, SWIFT) within the next decade there’ll be a global neutral digital financial system, free of any one nations politics or power interests.
The US will lose all its currency powers as it will be buried in its $30+ trillion debt and an over-sized/over-extended/over-costly/over-aged military that just to maintain it in a rapidly changing technology world will be an over-burdening task (over 800 bases that just suck up the treasury to stay in existence all needing constant maintenance). Technology will greatly change how the globalized world operates, including military (what good is a giant expensive aircraft carrier or nuclear sub when hypersonic AI missiles are being developed or weaponized satellites that will soon hack and shut down all computerized/tech systems and just blank out all its targeted data? Large military hardware (ships, subs, tanks, planes,etc) will go by way of the Calvary as technology and super AI hypersonic missile technology can just blow them out, or a weaponized AI satellite with weaponized laser technology or whatever AI weapon systems yet to be developed. Ships, subs, bases, planes will be no match. The 20th military century thinking is over just as the 19th was to the 20th.
_Will China become Center of the Economy_
Imaooo they are now Center of economy
Regionalisation……Brexit. Play stupid games, win stupid prizes.
Hahahha yeah.
Why most western major media talk so much fake news or do cover-up but nothing of china criminal party destroying the world's major Chinese media Apple Daily?
CCP is now repeating the same ruthless and irresponsible lies and cover-up as the Wuhan virus to hide the leaking of its Taishan atomic plant stationed near Hong Kong which only got exposed by a France firm!
CCP commie police raided Apple Daily, the only critic in Hong Kong, and arrested 5 editors under the evil CCP's freestyle national security law. Yesterday HK, today US, and World!
@@SS-tr6ei 傻逼
This is why I invest in NIO
What a name bro
U.S has been at war 233 out of 245 years of existence since 1776, with some 900 Military bases overseas.
Russia has less than a dozen military bases overseas, China has 1.
U.S is the world's foremost warmongering nation vs China, the world's foremost mercantile/trading nation.
Proud of my Chinese brothers and sisters. 21st century is gonna be Asian century. Love from India 🇮🇳
But china doesnot love india.
@may shin nice rhyme
@@kashan2534 China wants to be friends with India and solve their territorial disputes peacefully but corrupt Indian politicians are bribed by the west.
@@urbandiscipline8858 their soldiers have crossed indian border multiple times. It will take a while.....
@may shin you forgot the taste for opium , looks like a reminder is in order 😆
That's a very insightful graph @8:40 despite your propaganda music throughout the video. It makes sense - whenever China extend its hands and have exclusive trade deals with other European countries, Germany hates it.
5:36 what's this ?
The world is splitting into Euroasia, Oceania and East Asia. See how George Orwell is a visionary!
We are getting closer to 1984 day by day.
Lol. This is what happens to your brain when you give too much credit to fiction.
The center of the global economy has already shifted to Asia (China, India, ASEAN, Japan/Korea). China happens to be the biggest economy within the biggest economic bloc in the world, so it is likely to be at the centre of the world economy. This is merely a reversion to a historical norm where according to the Economist, China & India were historically the world's largest economies most of the time.
still not india india is on the verge of an econommic collapse
Unfortunately India is nowhere close China in terms of economy
We are living in a very different world now. India and China have many inherent advantages, but they were economic giants at a time when 2 whole continents had barely been discovered yet. It will not be easy for them to reclaim the throne, and in the case if China, if it does, it will not be fun for any of us.
@@MrAnimason
I disagree, CHINA IS FUN. China is not the N Korean regime that the Western politicians and Western media would like you to think. China is now a modern, progressive, clean, green, peaceful, safe, harmonious country with a very receptive tech savvy society.
It is not like the Muslim society where many types of entertainment are curtailed . Young Chinese youth are fashionable and Chinese like to drink beer (Tsingtao) and liquor (Baijiu). They have pubs, bars, band culture,and rap music is exploding in China in the past few years. K pop is also popular in China where many Chinese are members of Kpop groups. Any adult can hold a bottle or a can of beer and drink it on the streets and you don't have to be so suffocatingly politically correct in China.
All international retail outlets are in China like Zara, H&M, Tiffany, Gucci, Prada, Uniqlo, and thousands more. All international and American fast food chains are there - like McDonald, Starbucks, Burger King, Subway and more.
Although the internet is controlled by the government, it is just a VPN away from surfing the international internet which is cheap to subscribe to.
China is a very big country and as such have many different terrains to go for holidays such as tropical island in Hainan, ice city in Harbin, desert trekking in Gansu, horse riding in the plains of Inner Mongolia, the Himalayas in Tibet, Boat trip in the Yangtze river, beautiful exotic Guilin hills and tropical habitats, 640 ski resorts, ancient villages and palaces, Metropolitans cities and more.
Welcome to the REAL CHINA that western media will not show you.
Walking in China
ruclips.net/p/PLOcyzJdsH2qoFwUJ0X7eJWFpGpeUBnaQx
Happy life in China
ruclips.net/p/PLOcyzJdsH2qpSTO8rSnEgEP4BbUp8N0TJ
Shopping mall in China
ruclips.net/p/PLOcyzJdsH2qrB6UmnAv8HFxfHtPFCEjSU
Street Fashion in China
ruclips.net/p/PLOcyzJdsH2qo4QdWQ2rPFjlLGfldhRp7N
Chinese Entertainment
ruclips.net/p/PLOcyzJdsH2qpaUbW_SsVmRhkYX7y0kk7B
Chinese Tech
ruclips.net/p/PLOcyzJdsH2qoOzA_PV5il2ZqVjKD9YxRf
@@prakharmedhavi1915 Economic collapse? you drunk mate?
if they build a natinal railway network for all afirca like they statted it would go a long way for sustaining their economy. All those cheap goods flowing into China from Afica would get the Silk Road running as its intended. A huge circle were goods flow equally between China - Europe - Africa - India - SE Asia
I don't think you could find cooperation between African nations to make any such thing possible.
@@jaimhaas5170 You are unaware of Africa than, they're pretty much willing to integrate and have been signing a lot of trade agreements. African integration would be more like ASEAN (more economic and less political) where you've to make less political trade offs unlike EU (both economic and political).
@@arminius6506 Definitely happening. From Botswana. Europeans unfortunately think, they were born to rule the world.
railway is not an efficient way to transport goods
@@stevej3483 suggest to me how u'd transport goods across vast tracks of land??!!
Very interesting overview and touches a number of topics. China, technology, economics and population. Let’s see if FT holds true 😀
China GDP growth per capita
The per-capita “goal implies average growth of 4.7% between 2021-2035. We forecast an average of 4.4% for the period.
Source: Bloomberg
CHINA IS HAUNTED by the spectre of the “middle-income trap”, the notion that emerging economies grow quickly out of poverty only to get stuck before they get rich. 5:49
A study by consulting firm McKinsey & Company projects that 76 percent of China's urban population will enter the middle income bracket by 2022.
Sources: China Briefing; The Economist
Some very Interesting facts here about China and its economic prowess 👍
Whats with the menacing sounding background music in the beginning. Is anything done by non-Western countries always considered negative.
No.
When an authoritarian surveillance state (which has millions of its own people in concentration camps) starts gaining international power it's considered negative.
Japan/South Korea are tech and global powerhouses that the West loves.
@@camadams9149 Sorry but the rest of the world can see through the lies of the West. Every Western leaders that carried out crimes that violate international law and human rights has not been brought in front of the International Courts. Criminal court has so far only prosecuted non-Western leaders. Just like the justice system in the West that heavily punishes people of colour. West uses human rights as an excuse for war to carry out your own interests. Also Japans current economic predicaments was brought about because of the Plaza Accords that triggered decade of decline. The Chinese are not going to fall for that.
@@guardianoffire8814 "Every Western leaders that carried out crimes that violate international law and human rights has not been brought in front of the International Courts. "
Yes, the West is flawed. However in America we are always improving. Almost all of America's history is based on
1) A group of people not being treated right
2) A massive social movement forming to address that problem
3) Social and institutional change being made
4) Rinse and repeat step 1-3
The CCP doesn't do that. Their history of causing mass death, practicing genocide, and ignoring the concept of human rights has remained unchanged
I'm guessing you are a 50 cent with that comment
@@camadams9149 Tell me why a country with 1.4 billion people becoming rich is seen as a negative. People are getting rich and have lifted themselves up from poverty--but oh no, the West hates that.
@@sevengaming2179 "becoming rich"
1) They aren't rich. There are a lot of people. There is a difference in terms of standards of living. China has 400 million permanent migrants
2) The problem is China is attempting to export it's dystopian authoritarian model to the rest of the world.
Sorry, currently having 1 million of your own ethnic minorities in concentration camps makes China a country no one should associate with
Mao United China, Deng Xiaoping brought wealth, Xi Jinping is strength
@Yamilt A. America is the king of Censorship. They even banned a president. In America if you show any form of independent thought that isn't approved by the powers that be, you get censored & often they disappear you from public life.
@Yamilt A. but your country is even worse than america
God bless China ❤️🇨🇳❤️🇨🇳❤️🇨🇳
@Yamilt A. to take over dummies
Where are your from China or Taiwan
I'm surprised that Financial Times actually did a good report on China's economic growth instead of their normal Western bias towards China that they normally do.
I see there is constant stream of CCP auto-posting bots in comments, like this one. CCP is trying to use sophistry to convince some foreigners that CCP is not a threat. Don't let them!
If u do business with CCP, CCP will blackmail you into supporting their persecution of freedom and human rights. This is the evil CCP means of corrupting the world with their money, and destroying the international order!
@@j.x.7655 a western propaganda to tarnish the Asian countries due to the loss of their prominence in the world. They are only exploiting others with their technology which is now threatened with development of China,South Korea, Japan,Indiaetc.
That's a typical comment by a loser. Anxious about losing the White superiority, then attack at big words like freedom and democracy. A sore loser!
@@j.x.7655 lol, cry some more, loser.
@@j.x.7655 LMAO you sad Western bot.
As a European I don't mind that China is taking over. They seem to be doing a good job and are WAY less aggressive and arrogant than the USA. I don't really get the argument that China is "taking" the leadership role from the USA. They should welcome China's growth as that will help them too. It will help everyone, in fact.
As CHinese, I dont think china can take over everything. Instead, I think euro can be a better international currency than rmb, because euro has decades of experience as a regional international currency. Plus, rmb has got a too low currency value: about 8 rmb equals 1 euro.
"unless the EU, USA, and China sort out their differences we could see the regionalization of global trade becoming a reality in several years time". So, highly likely, if regionalization isn't completely inoperable.
Ultimately countries will fold and coalesce around the undisputed leader. I think you don't want to admit that.
@@KD-xq5co I agree. Except it's not undisputed anymore.
These clowns are speaking from a westerners point of view ...they forget that South Asia, Africa, the Middle East and South America will all be Sino-Centric ...that is more than 3/4 of the globe !
I don't think China will followed since are they want is the entire world. Heh they even claim all of the South East Asia from Nothing and leave my other country furious.
There is distinct difference between could be and hopefully be. I have this sense that FT 'could be' somewhat 'hopeful'.
Tell me i am wrong.
Ok, you're wrong. The FT is a UK media organisation that has no interest in China becoming more powerful. Your comment makes absolutely no sense.
@@sebfox2194 you're being hopeful that FT is not. Noted
@@internetw4nk3r74 Again that makes no sense. I don't care where the FT's allegiances lie. I simply don't think that it is realistic for a major UK institution like the FT to be hopeful that China increases it's global power ahead of the UK.
Yes,it’s definitely right time for China 🇨🇳
This video reveal an interesting ideological assumption: that only a US centered economy can be a "globalised" one where as a China centered global economy is "anti globalised". As opposed to China merely leading us towards a new form of globalisation. Even if China wanted to (which I doubt) the globalisation of the economy, a historical process, cannot be reversed. China is as constrained by history as the US is. In fact China cant be at the "center" of any global economy if its truly "fragmented". Its against China's interests to abandon globalisation. If anything, I suspect, "regionalisation" will be primarily a product of the US and the West trying to fight Chinese influence as a last resort resort due to their declining economic position relative to China.
3 major global trading blocs - Oceania, Eurasia & East Asia.
Remind me: who are we at war with again ?
We have always been at war with ...
@@ahothabeth ya a trade war stop over hyping it
Oceania is at war with Eastasia. Oceania had always been at war with Eastasia.
North America & Western Europe mo match for East Asia
@@hermannabt8361 And we have a winner!
Not the end of globalization but the end of capitalization
9:02 why is Singapore not connected to anything? Seems like a problem if the supply chains consolidate more and Singapore is not connected not anything
"A very different type of economic beast."
Historically, China went down 5 times & each time it came back to being the most advanced society at the time. This is the 6th time
@@herrdirektor1969 you are hearing that.. Im saying the tide that is taking China to be the most advanced society within the next 30 years is unstoppable...
yes.so we say we must make china great again
I likes how they said China creates a realities all by itself. Or another way to look at it is China because of it size creates norms (or are norms) all by itself. You got to remember that when Blinking said China done follow the norms.....
USA: "Rule based world order" = "countries follow whatever i said"
I am chinese, i hope there are no hegemonic powers exist in the future, china too. China is not perfect, but at least we dont export war, ideology & regime change like USA did in middle east. Let countries manage their own country, no more world police like USA that always point fingers to others.
@@pass3d m..
CPC is now controlling house price.
At the base of China's tremendous progress is the people. You can't copy intelligence, inventiveness, quick learning, resourcefulness, wisdom and very hardworking people.
If china is so great then why does it send keyboard warriors and bots to tell us that they're great? You don't see Western Europeans or North Americans going around yelling at everyone's face about how great we are. Only the Chinese seems to do this, always super sensitive about what people think or say about China. Isn't that a huge sign of insecurity?
@@isunlloaoll Trump: The US is the greatest in the world! ! He has more than 70 million votes. You are just a bit less than Biden. . .
@@isunlloaoll 你们讨论中国，有些言语甚至是污蔑，你还不准我们来评论？你来自哪里？很了不起吗？凭什么这么傲慢？wtf
More FT videos in RUclips would be welcome.
I just don't get it. Why in the West's opinion there must be only one 'centre' of the world?
Don't confuse "the West" with USA 🇺🇸
- I'm from Australia and we are more eastern than Chinese mainland!
Maybe because we don't want another USA type bully, which china sure is becoming with it's violent approach towards countries near SEAS and India
The apocalyptic music at the beginning is abit excessive and overly dramatic.
The rapid development of China definitely concerns a lot of American experts as China's potential grows up to finally build an impenetrable wall between them and the rest of the world. So, if European, South Asian and African countries have to choose between America and China they'll probably make decision to move forward along with the Chinese partners. This is what's now intimidating the Americans. They try to preserve their leadership in the world but their time of global dominance is incrementally coming to an end.
No one wants to Boycott Chinese Product’s. WE ARE GLOBALLY SPOILD HUMAN’S, and SINCE THE 1970’S AMERICA BEGAN TO CONDITION EVERYONE TO BE DEPENDENT, LAZY, and VERY MATERIALISTIC !. THE PERFECT COCKTAIL FOR DOMINANCE; ADD A DESIGNER VIRUS, and YOU JUST TOLD THE WORLD , “ WE RULE NOW “ !. They even make OVER 50% of our ESSENTIAL MEDICATIONS!. THE POLITICIANS REALLY SOLD OUR , GOOD COUNTRY AWAY!. DAME THEM!.
Nice video!! Very engaging from beginning to end. Nevertheless, businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.
Stocks are good crypto is better
I wanted to trade crypto but got confused by the fluctuations in price
I heard his strategies are really good
My first Investment with Mr Richard Gerald me profits of over $24,320 US dollars and ever since then he has Been delivering
He has really made a good name for himself
China always puts objections against being the only pillar of the world economy and real hegemony, which on the contrary, China always seeks to partner with the rest of the world for every possible way to benefit all that it co-operates with. Take a look at Africa, where there was famine and war raging on, there's a scene of reviving economy going on the land, thanks to belt & road initiative that helps them build essential infrastructures and more, which is something that the Western world didn't & wouldn't do.
I agree
Yes building infrastructure in Africa. Aimed at the extraction and export of natural resources like cobalt to fuel Chinese industries. Why does this sound so familiar?
@@JoeTheBroken oh my, why are you so worry about this? Lost control of your old colony? Africa is not the Westerners' colonies. The Chinese is giving us a fair trade, we need the infrastructures. What have y'all done in the past? Stealing our things, killing our people and no infrastructure. Take care of your business, stoping pretending to be good, everyone knows your true intention.
@@user-ct1je6xf6z I’m not pretending to be anything. Unlike you I’m not pushing any sort of ideology or agenda, I’m just being objective. Yes, the West has brutally subjugated much of the world, especially Africa & the America’s, and continues to do so today via capitalist neocolonialism. France being the biggest culprits of this in particular with their former African colonies. But it’s disingenuous to think China is being a “good guy” or “hero”. There are no good or bad in geopolitics, just conflicting interests trying to expand their wealth & influence at all costs
@@JoeTheBroken At least China will not influence in our internal political affairs, and they are not selling their ideology to us. Oh US, stop selling ur 'demoncracy' with bullets and bombs.
Thanks for sharing you and your team hard work. Great 👍 to listen
What about the role of india as the potential regional center for growth in addition to the three germany china and the us as pointed.
Never underestimate the power of denial.
China's success could be a success for the world if they promoted freedom and liberalism. Imagine China were to become a giant Japan or South Korea, I wouldn't mind that.
Maybe they will be. Remember South Korea was authoritarian before 1988. Taiwan was authoritarian before 1992. They became rich before becoming democratic. I hear people say Xi is putting himself to be president for life. Is there the possibility that he want to be president until China becomes rich and have that as his legacy? Is there a possibility that he can be like Chun Doo Hwan of South Korea or Chiang Ching Kuo of Taiwan as the last authoritarian leader that transition the country to a democracy? China is not a dynasty like north Korea and Xi only has a daughter. What's the point of continuing to be president in your 80s when your legacy is set and your not cognitively there like Joe Biden.
Do u forget what happened to Japan in the 80s?
It is never about ideology
@@user-xg6vh3pm5k I know it's not about ideology and I know about the plaza accord. US will keep anyone down to stay number 1. My response was due to my annoyance that people mention certain countries like they were democracies forever and not just after they became rich. It doesn't work when you're poor because you will get situations such as political candidates in India buying booze for the poor villagers and telling them to check a box that has these squiggly lines (most of them are illiterate so they might have a piece of paper in their pocket with the candidate's name) at the ballot box.
@@MrTobytherat hahahaha you make me laugh
sorry we mind, we prefer to be independent country.
Well, from the chat I can see people are getting more and more rational about this, this is a good start
China was the center of the global economy and is quickly coming back to that position and will probably stay in that position for a long time in the future.
God bless China 🇨🇳❤️🇧🇷
When I was living in China, I felt so peaceful and safe. I think we shouldn't care what system they are having, most importantly we happy and contented.. Am I right?
Everbody gangster until CCP send police who don't listen and 99.9% of the time convict on ambiguous charges.
@@joebloggs5833 Hey, mate, if that happened, it will be a big sell on Chinese social media, someone in gov has to take the hit and resign or in jail. So your concern is not valid。
@@hazenetb
Did you ever expect the Chinese to admit the truth, 'fess up, and take the rap? Such naïvety, Hazenet b.
@@joebloggs5833 Are you suggesting I know less? But I am a Chinese…不要开我玩笑行不…
@@hazenetb
Exactly. Censorship right through your social media, News outlets spin everything that gets reported. It's useless for me to tell you to open your eyes and think critically of what they tell you, it's so indoctrinated that you can't see through it. Your loss.
The real problem for the west is that it is very difficult for them to understand China by the current economic theory framework ,,
That was created by a world that became sick from the pandemic……
Difficult for them to understand or they just don't want to understand?
Their economic theory is western centric. "Oh Venezuela and Iran want to nationalize their oil, that's not going to fly" is the only thing the west understands. Me, me, me. "Germany and Russia doing a pipeline? How does the US feel about this?" Huh?
Regionalization already happening, now its time to see the growth/ success of it. Especially focusing at ASEAN and China relationship. Project/ program / investment on platform of Silk Road & values its impact and return to China & relationship with ASEAN country especially many country such as Laos, Vietnam, Myanmar becoming more mature
Now , i get Rick and morty
Billions of people want a better life,they work hard ,sacrifice the environment,then we are.
You are absolutely correct. I used to love seeing all the bikes in China...sadly that is not as much now.
Why is globalization and regionalization has to be in conflict to each other? Western developed countries always have this zero sum ideology. If Asia and Africa both form strong regional trading organizations, the developing countries will all benefit and become richer. Once they become richer, they will buy more high-end products from Europe and US. Everybody will win something.
Because in 2080.
China will have 800 Millon people
China is gonna collapse
Did you just say that Africa can "form strong regional trading organization, the developing countries will all benefit and become richer" - first rule in Africa is rise to position of power and then cash in, stopping anyone else from sharing any reward, all for the top authority and nothing for the mass. How blind are you to think that Africa can cooperate?
the regional trading blocks gives heavy 1984 vibes lol
in the actual cenario , i would say 'no' because of the enemmys of china in this moment. Buuut , the IA it's something that we can't ignore and can give for china some big advantage