Should the US worry about China’s economic slowdown?
HTML-код
- Опубликовано: 8 сен 2024
- #china #economy #madeinchina #europe #usa #tradewar #ukrainewar
Former Finance Minister of Greece, Yanis Varoufakis on the truth of China’s economic slowdown and why the US is afraid of China.
Our X：@ThinkersForumCN
Our TikTok：thinkersforumcn
For more trending stories and tech news in China, please subscribe:
chinaacademy.s...
thechinaacadem...
For more latest Chinese tech news Podcasts, please subscribe:
chinaacademy.s....
Join our Telegram discussion group by link:
t.me/+w8w-J6nn...
Unfortunately many EU politicians are hard at work making America (American elite) Great Again at the expense of their own countries. I'm not sure whether they are corrupt or just plain stupidity. 😂😂
Maybe it's both😂
100% EU politicians and around 80% the rest of world politicians graduated from Washington. What do you expect? Corner of the World's end like Australia and NZ, you can see all our Prime Minister moved and continue their career in USA once they finished their Washington allocated task in Australia. By the end of the day, wouldn't you make policy to suit US interest if you are offered $20mil in your US bank account + properties? Anyone will do it, after all it's only 4 years job
America beat up the Europe so bad, it lacks self esteem now.
De-industrialization in Europe actually benefits European financiers just as it benefits US financiers.
They don't care if their domestic manufacturing disappears.
That'll just make it easier for them to destroy what's left of the working class and to turn everyone into menial servants
De-industrialization in Europe actually benefits European financiers just as it benefits US financiers.
They don't care if their domestic manufacturing disappears.
That'll just make it easier for them to destroy what's left of the working class and to turn everyone into menial servants
Greeks always have great philosophers, you make all those grand philosophers proud.
Best regards
Yanks isn't a philosopher, he's a very accomplished and clear-thinking economist. We in Australia had the good fortune of having him here for some time.
You left out the important element to Germany's industrial production of cheap Russian energy.
Very true. It is called "cancel culture"
@@shankerram6076 cancel culture was terrible in America and as a moderate conservative, I pay them no attention, and what, whatever ugly they say, which is all the time roll right off my thick skin. The Socialist and Cultural Marxist in America, who do nothing but vote for a Democrat, socialist, fascist, and hurl, ugly slander words, and lie about Republicans or moderate or anybody that even is progressive, but doesn’t agree with them once, are BABIES!!! they are followers, and not leaders. It’s all hell breaks loose, and we are at war for stupid decisions of President Biden, and NATO does cancel culture eat it yet should immediately be drafted and go fight. they are cowards and they say they don’t know anything about guns 😂😂😂 when the government was talking about drafting 18 to 30-year-old men, these young cancel culture and democrat socialist voters were saying “ don’t draft us, because we don’t know anything about guns. Draft the second amendment people who are gun owners and they know how to use them and they’ve taken all the classes😂😂. It is hysterical.. those people are cowards and then they will hurl the ugliest comments that people because they’re part of the cancel culture. Teamwork makes the dream work, and those people are weak.
Sad! As an American who has family that migrated from Europe in the mid-1700s before the revolutionary war on my dad’s side & I don’t know win on my mother side except my mother is English. My DNA test is 50%English that I get from my mother side of the family and. Roughly 20%, southern Italian and Greek and the other 20% is eastern European & 10% Scottish.. my daughter’s DNA test said Romania but I took heritage DNA and it’s simply said Eastern European. That’s my dad side of the family.
He is too hypnotized by his lovely communist China and it's main enemy USA to even mention anything about Russia. 😂
he hates us Russians, and we learned to hate everything form the west!
If a developing country like China can become the 2nd greatest economy in the world, just imagine what that will be when it's fully developed? No wonder this realisation has caused endless nightmares for the Yanks n the Europeans! 😅JKH.
Anyone hating China should Go visit China then talk 😂😂😂
It is, by all accounts, an overpopulated, overpolluted hellhole where speech is suppressed and people die needlessly on mass due to negligent building practices, reckless driving, and straight up bad engineering. Don't even get me started on China's contribution to ocean plastic waste and carbon emissions. Oh and if you're a child being kidnapped or a woman being sexually assaulted no one will help you. That's just the culture.
After they stopped exploring China, they needed a job. It turns out that hating on china is very profitable. Now, they are getting double views @CheckDownCharlie-yf8lu
Spread misinformation and lies to your citizens and hide your failures.
@CheckDownCharlie-yf8lu So nice of you to take a break from your Peter Zeihan and SerpentZA marathon! You are so easily brainwashed. But I don't blame you, every one kind of is
Sometimes you need to get out of tourist area to see the real picture 😂😂😂😂😂😂😂😂
Good analysis!
Bravo Yanis 🎉 the word you’re looking for is CaPIGalism.
It’s what Capitalism has naturally evolved into 👊
China economy is not slowing down its was changing from good to better for the future the government of China always think ahead while the US and EU always think of war and sanctions😄😄😄😄😄
Bcos they can't compete, so they get involved in criminality
Economics isn't everything. Which country has more freedom? worldpopulationreview has Russia as more free than China.
@@sdrc92126Freedom is not everything if you are not safe and free from hunger.
@@f.s.monster3765 Slaves can be safe and well fed. I'll take my chances
Good comments and well said 💯 percent correct
Yanis makes sense.
China slowed down at 5%, which is better off than the US.
Another ignorant China collapse story. Western media is so pathetic!
That is why even the fake chinese data cannot hide the fact that chinese are dying. Very soon they will learn NOT to kill their own people. ( From Mao to Xi ) @lukhach92
They slowed down because they need to increase population. Country like US down due to paying debts and their investors flooding to China.
Why not worry about something close to home, like America's economic slowdown. Also we MUST solve our debt issues and we MUST manage our borders.
@CheckDownCharlie-yf8lu
Bullsyit
😂😂😂😂😂😂😂😂😂😂
US dollar bills will become toilet tissue
US media wants us to focus other things besides our real problems
@@indojaya4657 do not wake the sleeping/dreaming eagle at this moment,
when woken now it will cause more damage to the world economy; patience wait a little longer -- until it lost all its feathers -- then its time for a wake-ee wake-ee
We got to speed up DE-DOLLARISATION !
The guy is European, he is more worried about the EU, not the US
Excellent analysis!
What wong with economic growth? Is it a crime to build better lives for people ?
The rich don't want others to be rich.
In Australia, the government make life difficult for the poor ones.
Your salary cannot meet your expenditure.
@@johnsonolajide4647 Australia, Western Europe and US are running on market dictated capitalism. It allowed corporations to monopolize and control the government. In the end, all these nations turned into Corporate Sponsored States.
@@johnsonolajide4647 True! The cost of doing business in this country is so not worth it.
Excellent info and analysis 👍👍👍👍
The real truth is always bitter to swallow....please 'add oil' my MAN❤😂
add ice next
Nonsense. Most of what this guy says. 😂 He was so "successfull" in his leftist GOVERNMENT of Greece that Greeks are beating him up anytime they see him on the streets today. 😅😅😅😅😅 Tells me ALL i need to know about this 🤡.
Bravo , Bravo
So well ssid
Great analysis, very easy to understand
Thank you for the insight!
Thanks
Both America and China have huge debt. However, China has good, productive debt, while America has bad, wasteful debt.
China's debt leads to a better quality of life for the people. America's debt robs its people of a good life.
America does not produce goods that are truly useful and valuable, the only goods they produce are paper money and weapons.
China has very little overseas debt. Most debts are state-owned.
China's nett debt is way smaller than the US.
China's gold reserve is most likely several times that of the USA's. When Petrodollar gets dethroned, the RMB will be back by gold, whereas US dollars backed by nothing.
@@johnlay3040 are you kidding china has a debt to gdp pushing 300 percent get you numbers straight
Good morning Mr Yanis ❤️🇬🇷🇨🇳🦾😇👋
Excellent
So as dedoloratization advances , whe get to change the word order more easier.
This is very interesting but I would add that Marx said in Capital vol 3 similar things about finance capital - it tends to suck all profit and use it to get rent on productive activities of industrial and merchant capital (and in consequence all activity of workers). Capital is revolutionizing production, but the same logic which led to that revolution in power to produce have tendency to remove itself from production in the end. If capital has to produce to multiply it does but if there is any possibility to "profit without producing" - that is where it migrates.
The obvious conclusion is that after you build industrial economy you have to either go to new barbarism of rentier economy or move to some form of socialism where resources are controlled more by needs of society than needs of increasing GDP no matter how.
It is telling that USA includes in it's GDP all shady banking assets where in reality a lot of them are costs or debt so something that should be subtracted from GDP.
Did China's economy grow under Mao's "socialist economy" or Xi's "capitalist" economy? What did Marx "write" about this?
He did. The best way to develop a poor country is capitalism according to Marx . Everything he said applies to an industrialized world/country.
@@andresgarciacastro1783Which country get richer by capitalism?
@@movom1466 Every european, EEUU and China developped thanks to capitalism. The thing is, once the innitial growth slows down, it either devolves into neofeudalism, or advances to socialism. China has alwais stated that a capitalist phase is necesary to quickly develop means of production, and then transition to socialism. Just read Marx or Engels.
Europe is well developed because of colonialism. It has been a predator of other countries' resources to develop. Europe history has never been successfully developed by trading, but instead of war and Slavery.
Yanis is regarded as a failed finance minister in Germany! They see him as a Greek smart-as🎉s. Germans have problems if other countries telling them what to do. They only listen to the US, they can do whatever they want! Not daring to criticize them
Yup
I'm more concerned about the pivot to their domestic market that is causing the slowdown, and away from the export market I personally rely on for affordable goods. There is a short term deflationary effect we are benefiting from though, and it gives me the urge to doomspend.
Nationalst,protected,regulated microeconomies!
Mate, Yiani Varoufakis is a gifted, modern day, Global Thinker. It will pay Western Leaders to listen to him, and follow his advice. Human Beings around the World, want Global Unity, only a small percentage of USA Oligarch want Global Division, to keep maintaining their personal Trillion Dollar profits from USA's MIC (who also get $800 Billion Tax Payers money from the USA Government, every year ... with NO Auditing).
are there any other people capable of thinking as critically as Yanis in similar terms?
@@UCiWrMgES50tlUhV3l6NqjNA Nope! He's the offspring of Socrates, the father of Critical thought (and the West) breaking down cults and freeing indoctrinated followers to become individual thinkers. The trouble is, the West is slowly shifting back to Cult like behaviours, where the hyper rich are idolised by millions as modern day Demigods and are believe to be the truth tellers. Yanis Varoufakis will set the indoctrinated FREE, with FREE thinking and not some marionettes tied to the strings of the oligarchs.
Plutocracy
@@yaoliang1580 💯 You nailed it, mate.
@@UCiWrMgES50tlUhV3l6NqjNA - It would be interesting to see a debate between Yanis and Peter Zeihan....
Thanks for your input 👍👏
I wonder why that guy won't let me steal his machines and use them to only enrich myself😂
usa doesn't worry. they are a worry, to many.
there are aspects of the prc economy that seem, 'non-ideal.'
but i take the view that the prc government is genuinely concerned for the welfare of the nation, is staffed with smart, knowledgeable people, and will perform at the top of human ability.
this standard of governance is available nowhere else, and the major nations are hopelessly inept by comparison.
i think the early years of prc were blessed by the 'anti-communist' sanctions imposed by the west/nato. it toughened them up and forced clear-thinking. xi has inherited the most effective nation, with good national health and education, and deep popular support.
'the west' has no worries. they are fragmented, even atomized, incapable of concerted programs, and chiefly concerned with individual survival at the next election.
Then why are chinese people dying or dying to get out of china?
Excessive capitalism will turn into super greedy and monopoly.
Well, capitalism is better than Socialism and communism for sure but the thing with the Capitalists is that has the billionaires are earning 165 billion a year versus 10 billion or 5 billion they have become greedy and work hand-in-hand with the government and just recently the US senate had a hearing and told him that they didn’t knock it off they would regulate them out of business.
@@montrelouisebohon-harris7023 "Well, capitalism is better than Socialism and communism for sure" Lol no...
5% growth rate of 18 trillion size of the economy, what else would you expect? That is a nearly 1 trillion annual growth of wealth.
Will someone stage a dialogue between Yanis Varoufakis and Michael Hudson? Two of the most profound economic thinkers around, both with a focus on the rent-seeking nature of the western economy. I wonder what their agreements would be and where they might find differences.
China economy is not slowing down, it is doing a transformation from low value to a higher value chain industries.
❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Great analysis... probably a big reason why bitcoin and gold been soaring lately
Wait! You ALSO get instant debt when you buy the US$! Get yours now!
The significant growth of gold and Bitcoin is due to a significant increase in people's demand for safe haven investments. The uncontrollable growth of US debt and a series of US actions that are causing it to lose trust globally. The US dollar system is wavering.
@@aison2735 All debt based money systems die. It's mathematical certainty. It requires infinite growth.
Good
True, it is like a blind sprinter.
Fascinating man
Thank you, Yanis! Thank you
Very interesting
Good analysis to think about 👍
China rises - US worries too - sounds to me - these 2 giants NEEDS eachother , all these talk of de-coupling is just plain silly !
The US is the most selfish nation in the world. Hypocrite, warmongering, racist, liar, etc.
some Chinese needs the west, not China needs the west.
Just something else they weaponized against 🇨🇳 and 🇺🇲 Citizens 🤔❤️
??? isn't it obvious US is worried? they have been doing the absolute most ! yes decoupling might not be great for both but Leave it to the US to stir shit up
interesting viewpoint
Interesting - I just realized that Rosa Luxemburg was born just at around the time of the rise and fall of the Paris Commune. One of the great socialist revolutions that ultimately failed. Later she went on to lead one of the other great socialist revolutions that also failed - which is marked by the date of her death in early 1919.
Wonder if Yanis has noticed it too...
ECB is getting bigger, and soon take as central role in Europe
The Euro car was designed NOT to be driven, for display ok only, looking good? Yeah yeah? Beautiful
I am not for Amazon but you go to the store and ask small things to buy and they don't have it and he said go online to buy so in sense I understand people buying from Amazon. In a sense we are all players in this world.
I don't care the cloud and I don't use it but Microsoft insists you to use some space then try to make you pay for it on fee charge.
He is not talking about cloud storage, it's about the hole digital system, like food app or uber, these are cloud capital, because they ask rent to ppl or companies to operate in their system.
@@elainetamika4822 😂
He wasn't talking about the weather either Buddy.🌩
👍👍
Yanis, if I just design and manufacture things, I am the equivalent of a slave or serf in your scheme of things....how does one move up the ladder to become a cloud capitalist?
In socialism you don't move up; capital is controlled by the collective not individuals. Everyone is theoratically equal. I'm saying theoratically because there will still be difference between wealth depending on your job. But the ridiculous wealth difference you have today where some people can't eat and others have wealth that can literally end world hunger won't happen. This is actually why socialism has been met with ressistance in my opinion. I sometimes feel that ordinairy people don't even want equality, they just want to replace those who're wealthier than them.
@@simplycf3010 "controlled by the collective". Even if this were not true, the collective is controlled by the WEF and other technocrats. Half the people I know do exactly what the tv tells them to do and can change their opinions on complex nuanced topics in a second.The WEF even brags about being able to control people like this, you can ind videos online. They are proud of it and do not hide. I used to read many books on the subject
Sometimes you need to get out of tourist area to see the real picture 😂😂😂😂😂😂😂😂
✨✨✨
💨
How is capitalist system work? I feel Chinese copy it, and improve it even through WeChat and Ali pay their digital system work so well. Is Cashless society now.
To state a few facts:
Capitalism and the United States WON the Cold War while the Soviet Union disintegrated under its own weight without a single shot being fired; Socialism is the obsolete ideology that failed miserably in Zimbabwe, Venezuela, Grenada, Vietnam, North Korea, East Germany, Yugoslavia, Libya, Sri Lanka, Chile, Hungary, Nicaragua, Poland, El Salvador, Mozambique, Romania, Honduras, Mongolia, Bolivia, Afghanistan, Angola, China (which has been Capitalist in everything but name since the economic reforms of 1964 by Deng Xiaoping), Russia (of course), and everywhere else it has been tried.
Capitalism continues to be the best and only option while Socialism continues to be the worst, the most failed and most lethal after having caused at least 120 million deaths in less than 90 years which would translate in more than 1 million deaths per year.
BTW, how come reds keep bitching about American "imperialism" but never mention Chinese imperialism in Vietnam or North Korea? Or Soviet imperialism in Afghanistan, Lithuania, Latvia, Estonia, Hungary, East Germany or Yugoslavia? Or Cuban imperialism in Angola, Mozambique, Grenada, Nicaragua or Venezuela? Or Yugoslav imperialism in Albania?
And let's finish with the Socialist prayer:
If it's a Socialist atrocity, it never happened
If it happened, it wasn't that bad
If it was that bad, they deserved it
If they didn't deserve it, mistakes might have been made
If mistakes were made, that wasn't real socialism.
karl marx is back, hey Yanis?!?
As to china say evergrande and country garden wonder how the real estate imploding will affect the banking system there. i wonder who will pay the loans on all those tofu dregs disasters. And from on high the CCP implemented the one child policy
If i must rent or use amazon by paying them then of course i must pay it.. Coz they create the app.. But you still have option which is you can built your own marketplace website.. And it will create new versus againts amazon.. The market will choose itself.. And so much people will built their own marketplace and it will be the market itself.. You can choose you want to pay amazon admin cost or whatever you called it or you will learn or look for web designers to built your own marketplace.. Its like system which one is good restaurant vs other restaurant.. You still have option
Have you sold on Amazon, no you don't have option.
@@stvdmc2011 i never have experience sold something in amazon coz i dont kknow to do it..coz im from asia..if i dont have amazon account then i built shop offline...thats the option
I'm an old man. I've been hearing since my young days that capitalism is dying. And we can all find even older than me books and articles stating the same thing.
As a matter of fact, capitalism is dying since the day Marx finished his book, coincidentally.
Take it easy people. It's not dying. It'll never die, because people like to own stuff (sic).
Owning stuff and having markets and the existence of the ultra rich isn't capitalism. Fuedalism had all these things. Socialism with whatever country's characteristics has all these things.
Instead, capitalism is a social economic system that prioritizes capital above everything, above humans, above material productive forces, etc.
As an organizing principle, it has a beginning, a middle, and one day it will come to an end as human societies change and shift to deal with new things and events.
As well, when we're talking about a social system dying, the process is not going to be quick. It took feudalism some hundreds of years to die out.
Finally, just because a thing hasn't happened yet, doesn't mean it won't ever happen in the future.
So yeah. I don't think you know what you're talking about.
You can cry as much as you like. The only thing that has collapsed was communism.
Communists and Marxists are like a drowned man giving directions how to stay afloat, dreaming that some day the sea levels will lower to where his corpse is.
Bla bla bla, prove that you're not a robot.
Not a very worthy try. In Greece Varoufakis didn't even get 3% to make it to the parliament. You know who got 8%? The communist party. Yanis is not a communist. He's just a joke.
Call me back when the sea levels are low. iPhones don't work at the bottom of the sea.
@@Blinky.Catttt That's Fabian Socialism. Debt as money is a core concept of Marx's Communist Manifesto (he called it a plank), but it's older than him. n the bible, all debts are forgiven and the money goes back to the king every 50 years.
Capilist paradox is proken it not work in global markets.
Most of the analyses is logical and appreciable.
Only one technical flaw i. e. India has a system called UPI where payments / transfers are on-line and free.
Combined value in US dollar terms of Indian On-line transaction exceeds combined value of digital transactions of China, USA and Europe put together.
Improve your spelling first
Friend, we have a big brother of Wechat , and for raodside shops too! in India
Ha yanis u forget about india i,we are trying to orient europe to india , as for amazon tradeplace we are developing ONDC catalysed by govt u should look we want to collaborate with democracy ❤❤
Everyone who talks about "dead capitalism" should move to "happy" Cuba or "happy" North Korea or the same China...
Especially "ministers" from "prosperous" Greece, who have proven their professionalism in practice....
You are so right there are so many people out there who don’t understand what is going on anybody promoting communism is obviously a fool just look around you any socialist or communist state are mental cases
This guy worked for socialistic state that went bankrupt and capitalistic countries saved him it is amazing how grateful some people are
N Korea and Cuba will prosper once capitalism is dead as they will have no more sanction imposed on them by the evil and selfish propagandalist against them. They only want them to collapse as a "reason to bribe and help them to built militarily base to "protect them".
@@othmarbrunner9639 😂 go visit China bro then talk 😂😂
Such an ignorant statement proves you've never been to China... Go there and you'll be ashamed of your own country.
Yeah , you can say that because of the sanctions on Cuba and north korea for over 40yrs.
The USA will collapse if the world decides to sanction the USA by dropping the dollar.
Maybe those sovereign nations need to reevaluate their governments to capitalism rather than socialism and communism. It might be their problem. They could purchase more green stuff…that has to replaced every 20 years.
Chinese products on sale
This guy is a high level bullshitologist !! We had to find out the hard way ....
not a thinker.. more on propaganda
Ah yes, classic western attitude: hear someone say something positive about a non-western country and it's immediately "propaganda." You sound more propagandised than anyone and your lack of self-awareness is symbolic of the west's decline.
Yanis, which Master do you serve ?? Therein lay's the problem of both your logic and reasoning. You cannot find the truth when you wish to serve anything other than the truth itself and you wish to serve a master who offers you that which you have not earned nor ever will have because it doesn't exist. The End.
I spent 10 years in China and I know how they treat their people and foreigners and they do so as it pleases them. In many way's China and America are opposite sides of the same coin and the world will only be served when both, along with all the other would be Hegemonistic powers are finished and removed from the game. What is needed is World government, but not by the self-serving elitist which govern or attempt to govern and control today.
Rather, the underlying belief must be simply this, which is my philosophy. " One World. One People. One Day. One. " If that day does not arrive soon, then the Human Race is doomed to self annihilation and our little spec of dust will simply become to look like another we call Mars. The End. AD.