Don't forget to check out Brilliant free for 30 days here: brilliant.org/Polymatter Brilliant has a new course on Large Language Models (LLMs) that I think you would find especially interesting. Have a great weekend!
Mr. Evan what do you feel about Sam from Wendover moving into the China analysis YT niche? PS: Love your work and I would really appreciate if could you do some more videos on India or Latin America. We really need some nuanced analysis of these lands.
also this is exactly what the usa did after ww2, its hilarious that now the USA doesn't have a monopoly you start attacking china lmao, chinese goods make things better for consumers everywhere, you're just mad that the usa isn't the one doing it
The part about steel is incorrect. The Pittsburgh steel industry collapsed in the 70s, before china opened up. It collapsed because its steel mills were inefficient compared to the Japanese
Japan was the China of 70s, poor quality, cheap. They were essential for the US to counter the spread of Communism, so the flow of technology and investments was steady.
How can any American company compete internationally when the CEO makes millions, and the executive class plunders the assets of the company. No investment in plants, equipment, or salaries, just sky high executive pay, leading to bankruptcy blamed on the labor unions.
Polymatter totally misses out on what makes China competitive: supply chain efficiencies, automation, and innovation. All of the factors he listed exist in other developing countries too. He just hates China and has an axe to grind.
Yes, that's the key question. Remember, China always thinks long term. In this situation, since their citizenry is really watching their duckies, I believe Xi will just want to flood global markets with Chinese ev's, solar panels, etc. Who knows, it could be robots some day. :o
"Why China is About to Start a Trade War" - my question about assertions like this is whether or not the author will make a follow up to their claim. If there is no trade war, will there be a "Why I Was Wrong" video, or are we just baiting viewers with a fear-inducing headline here? I say this as a longtime viewer of PolyMatter, big fan of the videos in general.
He has 20/20 vision because it is happening now. A trade war may include import tariffs and quotas. The US is giving subsidies to its semiconductor industries. The video is saying the obvious except that it is from the Western and mostly the US perspectives. Every country wants to export, and that is not a trade war. Is he sure French wine growers receive no subsidies? The EU subsidizes wine-grape growers and winemakers through programs like the Common Market Organization (CMO) for wine. From 2018 to 2019, France received around €341 million in direct aid payments from the EU for the wine sector. That is a significant part of their income. A balanced report will be helpful and less antagonistic to all. But which country's pair of eyeballs pay more for You Tune content?
It is already happened, not in Europe (yet) but in place like SEA that dumped all cheap Chinese goods into and tried to strong-armed many nations into accepting their term like my country.
There is no reason to assume China wouldn't try to export cars at some point, because it is basically the playbook of other East Asian countries -- Japan and South Korea.
They already do export cars. You can find them in Russia, the Dominican Republic, Mexico, South America, Africa, Central and Southeast Asia, and more. Of course getting Chinese cars into North America and Europe is more difficult with the sanctions and all that but there are plenty of Chinese cars out there, it’s just most people prefer the big established brands.
@@Bruh-wb3qw You could say everyone has the option to buy cars for £10k but North Americans & Europeans get to buy a £10k priced car for $50k. It's a win for those that pay the higher price as they can afford to do so, when the poor pay a lower price for the same quality product.
@@Bruh-wb3qw A Chinese company bought the naming rights of bankrupt British sports car maker MG motors. With a known brand name, cheap MG branded Chinese cars have flooded the bottom end of the Australian car market.
@@sammytsang2948 I wouldn’t say it’s the same. Chinese cars are known to have quality control issues and even harder to get support and warranty coverage for those issues. I’m speaking from what I’ve seen and heard recently in the past couple of months. I live in the US so I’ve never seen one in person.
This video is an actual embarrassment. 4:02 could literally be talking about the US. 4:43 even more so. Yet it tries to present the statements as unique flaws of the Chinese economy. For God's sake, it tries to tell you that exporting surplus products is a sinister undertaking. Globalization, anyone? And as for the subsidies are bad argument, apart from the whole "infrastructure is unfair competitive advantage" bull, the US also provides ginormous tax breaks for companies, especially for manufacturing, for example. Not to mention countries like South Korea, which I am sure get a glowing review on this channel, which are basically industry zones first and countries second. And the title of the video... are you having a laugh? Circa 2017 is when protectionist tariffs were escalated, BY THE USA, and it still continues with the banning of selling advanced microchips, and the actual GODDAMN SUBSIDIES granted for research in chip manufacturing. But sure, China is the one starting a trade war.
Yeah, the entire video is just loaded bs. Globalism was implemented so the western countries could steal surplus value all over the globe. And now that China is out of control, it's getting rolled back.
Sure, blame it on the US while China dumps cheap stuff on other developing countries and kills their industry. That's how Chinese supporters operate after all, blame the US and all the crime it caused on smaller countries are cleansed. The entire South China Sea debacle was somehow spun into US aggression by China, while most of the time it's China that's bullying its neighbour.
They are not surplus, they are just american propaganda against China. China made those cars because they have an intended market for them. They were actually cars intended for world market - Asia, Africa, Europe - all over the world...and the americans don't want that happening. The chinese are savy businessmen, why would they over produce cars thet they can't market?
@@Eric00700but still they export what their surplus and import what they need……..if you want to balance your book, then export more then…….if you cannot, then it’s your inability…….many people run their family in debts too, because they produce valuable work too less and consume too much…….who is the cause of their deficits? The grocery stores or the travel agencies? 😂
gotta get a piece of that 300million a year state department subsidy for 'negative reporting on china' Seriously the kinda cash the US openly admits to spending on smearing china can probably fund a marvel movie that does nothing but dunk on china.
Part of this video is a good historical recap of China's challenges, but the conclusion it draws from those historical events are dubious. The US and Europe loves to call things as "dumping" and "trade war" when other countries have goods to sell, but when they have goods to sell to other countries they demand that other countries must open up. This is the nature of trade ... every country feels threatened when their own consumers prefer to buy foreign goods (because it's cheaper, better quality, better value, or whatever the reason might be), because then the government would start to lose control over the local economy. "Economic competition" is good until someone becomes so good that the "game" feels "unfair". What China is doing is exaclty what the US and Europe did during the 70s - 90s, when it "dumped" its excess production capacity into emerging markets, offering goods and services at good prices, and gobbling up new customers abroad. It's tiresome to hear the "boy who call wolf" when economic competition creates winners and losers. This is the inherent risk of opening for free trade, which is that you risk having foreign companies outselling in your local market, and gaining control of your local economy. The US and Europe can't preach free trade for everyone else, but then call "foul play" when they start to feel the negative consequences. This video is more about "trade politics" than it is "trade economics".
Dumping is a form of trade war, whoever does it. And China has been subsidized as a developing nation (still is, I believe, for instance they can ship cheaply because of international postal agreements).
Are there any books you would recommend for someone interested in geopolitics and economy? I'm in stem but recently have gotten interested in global affairs.
@@parsifal40 I praise you for being interested in geopolitics and the economy. I work in STEM but my academic background borders between "technical" and "classical" education, so I have an appreciation for both. Unfortunately, I cannot recommend any book on political economy, because it's too broad. You might be interested in the reading list and syllabus from PPE programs (philosophy, politics, and economics). A PPE degree is very popular at elite universities in the UK and US, primarily because it teach you how to build and wield power, rather than teach you how to "make" things. It's a degree common for lawyers and future politicians. The knowledge from a PPE education is foundational for understanding how nation states are formed, how truth and information can be used to exert political control, and how capitalism and politics are intertwined. On top of this, you also need to understand a bit about how modern economies work, particularly how corporations and nations finance themselves, and how trade politics are interconnected with national security policies. Needless to say ... TH-cam is not a good place to learn these things. TH-cam is great to hear commentaries and see things from different perspectives, but you should read mostly books and business newspapers to get a well-rounded view. My daily routine is to read either The Economist, Bloomberg, or The Financial Times. Actually, I highly recommend that you just read these publications regularly, and look up ideas or topics that they reference. At first, you'll find yourself getting bogged down by ideas or words that you're not familiar with (for example, what is "capital flow control"), but you will build up your knowledge over time, and start to accrue an informed perspective. Political economics is about understanding the basic problems that all societies face, namely "how to achieve security, growth, and meaning", and how do people design different social protocols and social institutions to achieve these goals. There is no one socioeconomic and political system that's the best in all cases. An informed thinker is when you can gracefully grapple with the difficult trade-offs between different choices, and form a perspective that you know is not perfect but it is in accordance with the values that you think are important. I'll try to be more concrete (not sure if what wrote so far is any use). The reading list from MIT "Introduction to Political Economy" (14.770) is very good. It's available online through OpenCourseWare if you search for it, but I cannot link because of TH-cam. Cheers!
@@nnf9431 Deflation is pretty much a death sentence for the current government/country as it currently functions. Essentially if deflation hit Canada, the best it could hope for is that everything would more or less "freeze" in place (so none of the current issues go away), whereas the worst is total economic and social collapse.
@@nnf9431 ya that's a straight up lie, of the individuals who used maid last year only 463 fall into the category of "natural deaths were no reasonably foreseeable" and even those are very likely not because of affordability. I've heard some stories about questionable applications of MAID the majority of it's uses are for those in extreme suffering which will likely increase until they die.
Help out the Alberta/BC separatists! No large host tax base to steal from = no subsidized country invasion = actual Canadians get to live again. Have your own little revolution :)
@@nnf9431 Remember that your salary is also a price that drops during deflation. But people generally don't take pay cuts, so how can the average salary decrease? The answer is massive amounts of unemployment.
@@LaowaiDaveJCP yes really. China is known for terrible quality in construction. Ever heard of tofu dreg projects? Companies cutting all corners possible including paying off inspection officials (this is widespread) to net the most profit for 1. The owner of the company and stakeholders, and 2. The ccp officials who granted the project. There are countless demolition videos of these kinds of projects in China and you’ve probably even seen a few.
White person subsidies are good, other countries are evil. When describing how china is descending into a capitalist hellscape, polymatter inadvertently describes late stage capitalism in the west. Well, I really enjoyed how silly this propaganda video was.
If the west believes so much in the free market, perhaps they should not be the ones imposing the highest number of sanctions on the rest of the world.
To quote Peter Schiff "if china wants to subsidise its products americans should be thanking them for giving them a free discount" Which when you think about it. If china intends to operate at a loss for these exports its china screwing itself over with massive debts while the consumer gets cheaper goods. If anything you should be more afraid of china pulling back on subsidies which would drive inflation right back up and cause even more headaches for net importers like the US.
@@noth1ngnss921 yeah, the logic, mind blowing. I fuk a hooker, spend money, payed taxed, counted into gdp, referece to currency depresciation, violation. perfect correct.
The part about France is also wrong. France has absolutely colossal subsidies for wine, including regularly paying growers to rip up vines... Which then get replanted and ripped up again... A good friend's in-laws did this a few years ago in Le Gers. There are lots of import quotas for many, many agricultural products, and plenty of tariffs. Europe, and particularly France, are absolutely not free market at all, and there are plenty of very nasty chemicals that don't get banned, in spite of scientific studies showing they should be, because of lobbies. Do better.
What you call colossal subsidies are some dozens millions of euros. When we're talking about China putting hundreds of billions into its automakers/solar panel makers/battery makers. And ripping up vines is the exact opposite of helping producers over produce to flood international markets. We're all waiting to see China pay car makers to rip up plants.
yeah agriculture in europe as a whole is massively subsidised and protected. Half the riots in europe right now are because farmers don't want to compete with cheap US and Ukrainian food products.
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What a stretch to use French wine as an example. French agriculture is heavily subsidized and protected. And they only get away with the high prices because they were able to come up with this denomination protections that I don't know how they were able to enforce internationally. Remove the subsidies and the French farmers would no longer be able to play farm.
The wine is a poor example as there are numerous protections in place for agricultural goods in France, and more broadly, in the EU. Notably, what differentiates sparkling wine and Champagne is just the place of origin. The name is legally protected, and that extends internationally via trade agreements.
South Africa, Australia, Chile and California are producing wines in large scale and flooding the global market with cheaper prices than French wine. Grape farms and wine producers from these countries all receive supports and subsidies from their governments.
It's not just the place of origin it's also the way of making the wine. I'm French so I'm used to this (and I drink Champagne all the time, real one as it's available quite cheaply) but I don't understand the opposition to it. Either the name Champagne means something aka its origin, minimum quality etc., or it's just a meaningless name and why would you put something meaningless on your product ? If the Champagne name wasn't protected then it wouldn't exist as there would be no benefit in calling something Champagne, everyone would assume it's some random, low quality wine. The funny part is that this comes most from the US, where people can patent and protect all kinds of ridiculous things like the shape of the first iPhone...
America also subsidizes their milk companies among other things, that is why they can dump the milk instead of selling them cheap - they dump the milk to maintain the price.
It's not really "protectionism" when the imports are massively state-subsidized. Of course domestically produced goods with far less state-subsidization cannot directly compete with this and really, why would you want them to?
@@bigjared8946USA is capitalist, which means whatever the best bang for buck money can buy is usually the one that comes out winning. Why can’t the U.S. subsidize heavier? The current debt ceiling seems to be infinite anyways 😂
China has double US and EU combined population, sells the same number (30 million), yet 29 million are 1/2 the price. China has a car market far smaller than the US or EU each.
@@Enjgine 1/2 price? Show me the source!moron, BMW,Ferrari,MBenz,40% of the luxury cars are sold in China market, the average price is even higher than that in the US.btw, China’s population is close to US,EU and Japan combined, but the car sales number is still larger than those 3 combined.
@@sengwesetogile6054 How many of these are people who lack work ability or are not engaged in production? Including the elderly, infants, and current students?
The problem isn't their affordability, it's that the government of China gives advantages that violate free-trade rules. Look up "dumping" in regards to international trade.
One big comparative advantage china has is its battery technology. Rather than seeing it as exporting cheap EVs, you should see it as exporting cheap batteries where china has both the capacity and the advanced tech.
i don't think he ever call it unethical. He calls it an economic problem (paraphrasing) which, i mean, it is. fucking over your worker will become and economic problem at that kind of scale
@@ZachDavisForReals Hey I am a huge supporter of free trading. And I know that US is the leader of it. But looks at Biden's CHIPS act. subsidies, exclusive supply chain, force investment, doesn't that violate the FREE-TRADE RULES? Does anybody knows that US have DUMPED corns and soybean to latin America, Affrica and China to destroy their agriculture system? It will be unfair for PolyMatter to not blame US as well
I thought we wanted to transition to electric cars as fast as possible. I wouldn’t mind a $15,000 BYD rather than a $50,000 American SUV. Blame the car manufacturing industry for pressuring the US government into regulating profit-maximizing land yachts into the market rather than efficient vehicles.
That's primarily with just the US. China is currently trending to start one against Europe and all the Global South countries where they've been getting offshored to.
Whose factories are those that have been moved to other countries such as Mexico? I'd give you a clue: Check the level of trade between Mexico and the US and check the same between Mexico and China. See if you can find a pattern 😁
Boeing receives enormous subsidies from the US, the same as Airbus in the EU. Both dump their products internationally. If your story holds true, then the US didn't pay her people generous enough to buy more private planes.
nah, they are just commenting that this video is so full of holes and what they are asserting is really ridiculous, you would too if you remove your blinders and really investigate the facts.
I am a company owner of China. I know how much cost for social insurance and tax paid for a employee. It is pretty high. The enterprise is actually highly taxed. Actually the reason for saving high is not because of low social insurance.For subsidy part， I dont know other trades, for green energy part, the government never paid on time. Believe me, making business is hard, competation is so high. I believe that is why there are more competitive company in China. For consumer part, you can see how many apple, tesla, bmw, benz, audi ... bought by Chinese people, actually, the luxury cars are only ones having up sells in China's foreign brands. Chinese also buy a large amount of electric vehicles.
Travellers to china from the west know first hand that the social insurance is indeed low. You cannot compare china today to china last year. In scheme of things, social insurance is abysmal in china. 1,000 expensive cars in a city of millions doesn't make them rich, it means a few people (less than west) have money. More than half of the chinese people earn $2,000 a year, that is true poverty. China is deeply poor.
@@Enjgine I agree with you, but $2,000 can be quite adequate in some parts of China. Given the vastness of the country and the wide distribution of its population, the cost of living can vary greatly, akin to the price differences between countries with different currencies. Local governments prioritize making goods more affordable for their people. Take eggs, for example: in my years living in the UK, I've noticed that eggs cost 1.5 to 2 times more than in an average Chinese city, and 1.3 times more than in metropolises like Beijing and Shanghai. While the minimum wage set by law may be lower than in the UK, it does not exceed the UK’s by more than 1.5 times. Regarding electronics or manufactured goods, higher-end products like Alienware laptops may be cheaper in the UK due to demand influencing the price. However, items meant to be more affordable for less wealthy individuals-like pens and mugs-are 2 to 5 times more expensive in the UK than in China. In conclusion, those whom you describe as poor may prioritize affordability, and the government is indeed working to address their needs.
@@Enjgine so you don't understand purchasing power is dependant of the place. 2k usd in china don't buy the same things they do in utah or LA. china's population is mostly middle class, that is more than what most of the world can say. shame you are too ignorant to even know that.
Whining about China being unfair to the rest of the world and their workers working too hard will not change the non competitiveness of America. Stop spending trillions on wars and use that money to help American industries and workers.
You directly benefit from military spending. It pays for the stability that's allowed the world, and by extension--you--to prosper. The US Navy is what keeps maritime trade going without major hiccups. Protecting US national interests keeps global trade ticking along. The internet, GPS, etc etc....you benefit from it.
@aslampervez2294 Yes, I live in a relatively neutral country that minds our own business, but this trade war, pretty one-sided, I would say, greatly affects the rest of the world. If you believe spending a disproportionate amount of America's fortune on the industrial military complex, more power to you. To each his own.
PolyNatter: “[China’s groceries are too cheap, its bridges are too good and its trains are too fast]”. China Uncensored: “Um, listen, come take a seat, let me explain something”.
My guess is that tariffs based on "Made in America" content will be raised to sufficient levels to prevent imports of cars assembled in China. That sounds like a policy that will happen regardless of who wins the election. Especially since EVs are sitting on lots as it is.
@appa609 both sides have said NAFTA will be blown up if used by BYD to circumvent tariffs by assembling in Mexico. Don’t forget this is a two sided relationship with dependence on openness of us market to Mexican goods not other way around. Let’s see who blinks first or if Mexico’s Alamo comes to his senses
Honestly I would love to see Chinese electric cars in the US. American car companies have become so lazy, terrible, and unoriginal because they bribed politicians to not allow foreign cars to be sold here.
You're thinking of management. The engineers' task is to make everything last the same amount of time. That's why things are starting to fall apart all at once. 😅
I lived in china for 4 years as a student, people there don’t earn that much but them standards of living are enough for the people. There are poor people but they don’t complain. I talked to them and they seem fine to me, they told me as long as they can find work and them kids can go to school and china are getting better they can’t get upset. I don’t understand why the west trying so hard to find anything to blame china, show the bright side and be honest. I don’t mind you showing the dark side but don’t only show bad side because I personally don’t start to trust the media anymore
It's not badly made, but some relevant points seem to be missing. It's an incredibly difficult topic and analysts don't all agree on it. He has some interesting points of view, though , that are worth following up on.
@@wArGa5m1what kind of takeaway is this? Do you need to be a chef to know if some food tastes bad? He's referring to his research and not his video creating skills
In many western countries children used to work in mines well into the 20th century. To think that we developed with regulations on labor and the environment is laughable.
Some states are correcting those regulatory "mistakes" from back then and loosening child labor laws! The future of the US looks grim with all the politicians effectively being puppets for the super-wealthy elite.
Sadly, you are so right. On a PBS, American Experience, they showed an old, shocking photo. The Fathers of those Kids used to stand behind them with BULLWHIPS! I couldn't believe it. I love my United States but there is much bad history with us not even including slavery.
@@jamesdeininger3759 It's been happening for years already. There's entire channels dedicated to just mining the China well, and nothing else, for their viewership. And I mean way more than Polymatter does. Typically quite biased and VERY repetitive, but it works. Some of them have around a million subs just from doing that.
@@supervince110 For what? Did it sound like I'd recommend any of them? I suppose if you just want to join in the hate train, feel free to mosey on over to China Uncensored or Serpentza. They'll feed you aplenty.
As someone who lives right next to what used to be a huge bycicle factory in Slovenia, but is sadly now defunct, the opening statement hit differently 😢😅
I still can't get over how funny it was seeing China absorbing a county I live next to in a Johnny Harris video. Like I already know manufacturing is mostly dead where I am from, I don't think it was completely China that did that thought.
Hell the big US automakers needed a major government bailout during the 2008 financial crisis. Due to poor management, poor innovation, and just simply couldn’t compete with foreign automakers.
@@Pat_KraPaoDon't even remember why I'm subscribed. The depth of his arguments are as thick as a sheet of paper. Just recite some basic stats published online by the IMF, UN, World Bank and voilà, you have a Polymatter video that goes on for 20 minutes for some reason.
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Would’ve liked to see included in the video if there is a plan from Beijing if Europe starts introducing heavy tariffs on the cars, and exports don’t sell well in Europe
With all the competitive advantages, China will mainly sell cars in Russia, Southeast Asia, middle Asia, middle East, Africa, and Latin America, competing head to head with cars from US, Europe, Japan and South Korea. Consumers in these regions are more than glad to see more affordable cars to choose.
Chinese automotive demand is extremely undersaturated because of strict licenture requirements in the big cities and they can choose to ease this at any time to increase consumption. There are about as many cars in China as in America, except China has 4x the population.
It's a difficult line to tow and Chinese carmakers are definitely going to start making cars in Europe. Even the EU isn't united about the tariffs. The French are pushing for them but the Germans are understandably, trying to tow a very fine line. Interesting to see how it plays out.
Basically only the US and Europe should have "overcapacity" in high high value goods. Such nonsense. And you forgot about subsidies for Green Energy in US and Europe to their own industries too. Lets not talk how much US is subsidizing chips in America
Show a Foreign Direct Investments chart along with the GDP growth and where it is today, that will answer the question how many of those cars will be permitted on EU/US markets.
The building highlighted at 1:32 is a Field and Stream, the REI is actually across the parking lot in the rectangular building. Funny to see a local place on a YT video.
Cheap Chinese cars would be bad news for the relatively few Americans and Europeans who work in the auto industry, but it would be good news for everyone else.
I hate authoritarianism, but acting like cheap, long lasting products is bad, is just dumb. In that case the problem is the system that makes a good life for all unsustainable.
"China has a problem: its groceries are too cheap....nearly everything are becoming more and more affordable by the day'. As a westerner whose livelihood is dented by high inflation from groceries to gas, how is that a problem at all??
As a westerner , I wish groceries were more expensive, by that I mean I wish western people would be willing to pay a price that would allow agricultural workers to have a reasonable standard of living. I wish people would really understand all the work that goes into putting food on their table, water coming from their faucets and electricity to their appliances.
A small amount is better than deflation in most aspects. If you have debt, that debt loses value. If you get a raise you probably have to keep it. If you import stuff to make other stuff it makes it more expensive to make less money. If saving money makes you more money, your probably not going to invest it hurting growth.
@@justinr9753 What? having debt lose value is bad? I think you mean leveraging debt to buy assets such as real estate. And the deflation has caused real estate prices to drop. Yes, if you are speculating real estate, and you buy too many properties at too high a price, then the deflation of houses will burn you.
I know I'm a bit late, but you are one of the few sane voices on the comment section of this clearly propagandistic video. Thank you for that, and keep it up man!
This video suggests that China can produce various goods so cheaply, quickly, and on a large scale because of cheap labor (or "low human rights"), massive government subsidies, and disregard for intellectual property rights, among other reasons. I do not wish to comment on these views, but it's necessary to point out: 1. Labor costs in India, Southeast Asia, and South America are even lower than in China, yet they have not become the world's factory; 2. The Chinese government does not subsidize all industries, at least bicycles are not included, and only a very few industries considered to be of strategic value receive subsidies, yet almost everything produced on a large scale in China is the cheapest in the world; 3. While China's emphasis on and protection of intellectual property rights still lag behind developed countries, they are the highest among all developing countries; 4. Over the past 50 years, the income of ordinary Chinese people (adjusted for inflation) has increased 60-fold. As a Chinese, I cannot deny the problems mentioned in the video (they indeed exist). However, China's real success in becoming the "world's factory" and its economic development to this extent truly rely on effective management, hard-working people, and an exceptionally large market (which ensures that almost anything produced is cheaper).This video is more biased and hostile than factual and logical。
My biggest take away was that continuing to purchase cheap Chinese products will eventually bankrupt the country that produces them. I have to be missing something, but this was a super interesting video.
It’s unfortunate and disappointing to see that the video quality on this channel declining. It used to be one of the very few sources from outsiders that stimulate insightful discussion on complex issues in China. But it has since degenerated into a click baity, self repeating mediocrity, possibly with the intention for more view and profit. As someone who has lived in both China and U.S. for many many years, I understand the immense difficulty of unraveling these issues, especially when they are controversial. That’s why I used to respect this channel, often writing long comments to share my experience and observations, until the recent few videos. For this video specifically, the author failed to provide an intellectually satisfying conclusion. The “trade war” in the most general sense has been ongoing for many years on all kinds of goods. Therefore it’s no surprise that EVs are now becoming the commodity of interest. The analysis leading to it is somewhat insightful, but it has too much repetition and almost feels like a deliberate act to extend the length of the video. The most unacceptable part is the ending. A “trade war” is looming, so what? What would be the economic consequences to China and the rest of the world? I know it’s hard to provide an answer without stirring up some angry comments, but ending the video here is just lame. The whole “trade war” thing just felt like a cliche that has been abused by thousands of other mediocre medias online. I spent 20 minutes watching this video for this? Sorry but I will unsubscribe, from nebula as well. This might be my last comment on this channel if nothing improves. While I don’t blame the author for playing safe, focusing on views and profit, I won’t pay for it anymore, due to the lack of intellectual value.
Yeah, he is just repeating what the American media has been trying to tell Americans for years. The fact is that the US never import any Chinese cars, the US market is also reserved for Japan or Korea, same as the smart-phone market. Chinese government planned for EV and clean energy for so many years. This is the advantage that they deserve to get, just like the US got the chip advantage in China in the past. This is called competition, price, quality and performance.
If they can send us cheap stuff, then what's the problem? Why do we need endless economic growth? Why is there so much whining in this video? That country makes lots of products cheaper and more effectively than many other places in the world. Lets benefit from it rather than moaning.
BYD cars in UK vs BYD cars in China. Same quality car ones sold in UK cost more for customer. But then BYD in UK might be better value than a non Chinese car of the same quality. But then UK customers always seem to pay more for the same quantity & quality compared to other parts of earth. No matter the product.
Wow look another wolf warrior I wonder if his name relates at all. What happen why does the strong CCP so hostile to foreign open markets now panic they’re closing. What happened worried about another Great Leap Forward, enjoy your new Mao, and new period of deflation and export drop. We know you don’t consume.
The problem here is _worse_ and harder than this program lays out. Many countries in Asia and Europe have very similar demographic and economic problems to the ones that plague the prc. Add in nationalism and you have a deadly brew. Many European and Asian countries are looking at population declines and low or no growth in demand in the future. Add ongoing subpar overall growth in Africa and you can see what manufacturers and exporters around the _world_ are worried about. To his credit, I think Zeihan figured a lot of this stuff out _years_ ago.
Cheap / affordable goods are good news to poor / developing countries . China is working on One Belt One Road , on Trades & Infrastructure projects . The US is working on One Bomb One Road , on Wars & Bad Mouthing China .
It cause mass layoff in developing countries because local companies. Millions of unemployed people in developing countries. Why can't 1,4 billions people consumed its own products??
Why do US and the West not adopt whatever the Chinese Govt is doing to help its people ? Is it because the democracy model must be practised differently ? Come on, do what is best for the country and not for the select few politicians and corporations !!
Can somebody good at economics explain to me how consumption foster economic growth and makes an economy more resilient? Intuitively, you are not producing anything of value by simply consuming. Sure, companies make more profit out of more consumption, but ultimately, no value is brought into the country's economy. How is it considered to have the same importance as exports?
if an economy produces goods but nobody consumes them, the cycle is incomplete and nobody prospers. the goods rot on the shipping pallets, the producer cannot pay their labor or make more goods, and the people who would have consumed them have no goods. and as a result, if nobody is consuming, the producer makes less going forwards, lays off the workers it no longer needs, etc. thus shrinking the economy. economic health relies on all parts of the cycle to be in motion
@@keyworksurfer Thanks for the reply, I do agree that consumption plays a significant role in the economy, but what I meant is that "does encouraging consumption grows the economy?" Countries like Sri Lanka imported (consumed) more than they exported, which proved to be unsustainable for the national economy. Consumption should be just naturally increasing with a more developed economy. Then why should developing countries like China encourage more consumption?
@@sophisticatedpotato9255bingo. The Chinese problem is by design, because they realize the ability to produce real goods is where the real economy power is at. They know exactly what they are doing.
Chinese being able to have the same or higher living standards compared to Europeans & Americans at less impact to Chinese wallets is a problem for western politicians, if the western voter finds out how much products should really cost.
At best this is concern trolling for the welfare of chinese workers (who are still seeing faster wage increases than any western country) at worst this is paid propoganda to justify western sanctions and tariffs against chinese goods.
I feel one point that needs to be covered. Is that since China’s meteoric manufacturing rise since 2000 and the corresponding tens of millions of lost manufacturing and their support industry jobs in the west, Western politicians now will not allow one of the West’s last jewels of manufacturing, the car industry to be also decimated by cheap Chinese car imports. So I feel that you will see that there will be all sorts of restrictions perhaps even outright bans on Chinese EV vehicle exports in any serious numbers to the west.
GM has been selling more cars in China than in America for years. Without the Chinese, the American auto industry would have been bailed even more times that they have been in the last 30-40 years
Weird intro. The bridges(and other instruture) are definitey NOT too sturdy. A number of buildings like schools, arpartment buildings and even massive dams had revealed major structural integrity issues and outright failures like collapses. Groceries may be cheap but there's a LOT of substandard products and outright fake meats(low quality advertised as high quality like fake rice, meat wastage glued together, sewer oil etc). That's also makes no mentions of assets, particularly real estate but also equities/stocks that are currently massively falling in value. Furthermore, Trade War was definitely started already by the US, and Europe as well specifically regarding Chines EV's in Europe. If anything, it would just be a response by China. Maybe you could argue that government subsidies by themselves are starting a trade war but that also something US, Europe also engage into though in fairness not to the same extent as China(in the past anyway).
This is a little weird. The tone is pretty negative, sounds a little biased and I'd even go as far as to say propaganda like. You're framing these very good problems to have as society collapsing. There problem is they're literally producing so much that there isn't enough local demand to consume it? Maybe I have to give this video a second watch or something because you sound like you've lost it, dude.
8:30 Is this some kind of joke? You show a nice retail area with nicely dressed Chinese people walking around with their cellphones talking about how the have no money for their own consumption? Don’t believe your lying eyes.
@@themantimeforgotx A lot more of China is like that than one area. I do business with people in China. They are hard working people and offer much better customer service than I get with American companies.
@@ericthehalfmexican9187 "They are hard working people and offer much better customer service than I get with American companies." Ok, this means nothing in the context of what we are discussing other than a possible bias. I have no doubt more than one area is. The point is a few circumstantial areas is not representative of a whole. It would be like saying America has lots of black people because in all the major cities I visited there were lots of them around. But America is only 13% black and they tend to mostly gravitate to major cities. Your eyes can deceive you. The data is what is important.
However, everything you highlighted at 3:25 is presently languishing in a Chinese graveyard, decaying alongside an oversupply of products, much like those 20 million apartment buildings. Moreover, numerous skyscrapers in China stand half vacant, and airports remain partially deserted due to the absence of international travelers.
Don't forget to check out Brilliant free for 30 days here: brilliant.org/Polymatter
Brilliant has a new course on Large Language Models (LLMs) that I think you would find especially interesting. Have a great weekend!
Mr. Evan what do you feel about Sam from Wendover moving into the China analysis YT niche?
PS: Love your work and I would really appreciate if could you do some more videos on India or Latin America.
We really need some nuanced analysis of these lands.
Make a video about Brazil
lmao it was the united states that started the trade war not china..........
also this is exactly what the usa did after ww2, its hilarious that now the USA doesn't have a monopoly you start attacking china lmao,
chinese goods make things better for consumers everywhere, you're just mad that the usa isn't the one doing it
Obviously polymatter needs to take a course on European geography.
The part about steel is incorrect. The Pittsburgh steel industry collapsed in the 70s, before china opened up. It collapsed because its steel mills were inefficient compared to the Japanese
Probably because Pittsburgh steel wasn’t folded 1000 times /s
He also talks about "the great recession" I guess he means COVID...
That's what happens when all your investments go overseas
Japan was the China of 70s, poor quality, cheap. They were essential for the US to counter the spread of Communism, so the flow of technology and investments was steady.
How can any American company compete internationally when the CEO makes millions, and the executive class plunders the assets of the company. No investment in plants, equipment, or salaries, just sky high executive pay, leading to bankruptcy blamed on the labor unions.
"a trade war.... sponsored by Brilliant" 😂
🤣🤣🤣
it's a terrible segue LOL
Came here to say this 🤣
He just stupid
Yah the entire video at the end look like as if brilliant is a tool to fight trade wars 😂
I’m convinced Polymatter and Wendover live in the same house
wait aren't they two channels by the same dude?
@@appa609 You think it's only TWO channels?
@@appa609 pretty sure that's wendover & HAI
They both live at the George Bush Center for Intelligence
theyre also payed by the same hand
I see, it's a "But at what cost?!" video.
Atrioc 🎉
Polymatter totally misses out on what makes China competitive: supply chain efficiencies, automation, and innovation. All of the factors he listed exist in other developing countries too. He just hates China and has an axe to grind.
😂
Yes, that's the key question. Remember, China always thinks long term. In this situation, since their citizenry is really watching their duckies, I believe Xi will just want to flood global markets with Chinese ev's, solar panels, etc. Who knows, it could be robots some day. :o
I am hoping to buy cheap EV cars. Looking forward to it! Cheap House will be better😊 can they come over and build?
Imagine being so american that "china has a problem: grocery is too cheap"
"China has a problem, brocolli is actually just styrofoam painted green"
Economy is when the majority suffer
@@coolbanana165 True! Economy = majority suffer
Communist = Everyone suffer
@@Enjgineexcept China is doing phenomenally well, and Whit-es are seething
But at what cost 😂
"Why China is About to Start a Trade War" - my question about assertions like this is whether or not the author will make a follow up to their claim. If there is no trade war, will there be a "Why I Was Wrong" video, or are we just baiting viewers with a fear-inducing headline here? I say this as a longtime viewer of PolyMatter, big fan of the videos in general.
There are a lot n wall street who say we are already in one...see his genius jk 😅
You expect more from a TH-camr than your head of your state
He has 20/20 vision because it is happening now. A trade war may include import tariffs and quotas. The US is giving subsidies to its semiconductor industries. The video is saying the obvious except that it is from the Western and mostly the US perspectives. Every country wants to export, and that is not a trade war. Is he sure French wine growers receive no subsidies? The EU subsidizes wine-grape growers and winemakers through programs like the Common Market Organization (CMO) for wine. From 2018 to 2019, France received around €341 million in direct aid payments from the EU for the wine sector. That is a significant part of their income. A balanced report will be helpful and less antagonistic to all. But which country's pair of eyeballs pay more for You Tune content?
It is already happened, not in Europe (yet) but in place like SEA that dumped all cheap Chinese goods into and tried to strong-armed many nations into accepting their term like my country.
Trump started the trade war already
There is no reason to assume China wouldn't try to export cars at some point, because it is basically the playbook of other East Asian countries -- Japan and South Korea.
And Chinese demand has been bankrolling the big european automakers since 2000. You can't call foul when the other player does what you do but better.
They already do export cars. You can find them in Russia, the Dominican Republic, Mexico, South America, Africa, Central and Southeast Asia, and more. Of course getting Chinese cars into North America and Europe is more difficult with the sanctions and all that but there are plenty of Chinese cars out there, it’s just most people prefer the big established brands.
@@Bruh-wb3qw You could say everyone has the option to buy cars for £10k but North Americans & Europeans get to buy a £10k priced car for $50k.
It's a win for those that pay the higher price as they can afford to do so, when the poor pay a lower price for the same quality product.
@@Bruh-wb3qw A Chinese company bought the naming rights of bankrupt British sports car maker MG motors. With a known brand name, cheap MG branded Chinese cars have flooded the bottom end of the Australian car market.
@@sammytsang2948 I wouldn’t say it’s the same. Chinese cars are known to have quality control issues and even harder to get support and warranty coverage for those issues. I’m speaking from what I’ve seen and heard recently in the past couple of months. I live in the US so I’ve never seen one in person.
This video is an actual embarrassment. 4:02 could literally be talking about the US. 4:43 even more so. Yet it tries to present the statements as unique flaws of the Chinese economy. For God's sake, it tries to tell you that exporting surplus products is a sinister undertaking. Globalization, anyone?
And as for the subsidies are bad argument, apart from the whole "infrastructure is unfair competitive advantage" bull, the US also provides ginormous tax breaks for companies, especially for manufacturing, for example. Not to mention countries like South Korea, which I am sure get a glowing review on this channel, which are basically industry zones first and countries second.
And the title of the video... are you having a laugh? Circa 2017 is when protectionist tariffs were escalated, BY THE USA, and it still continues with the banning of selling advanced microchips, and the actual GODDAMN SUBSIDIES granted for research in chip manufacturing. But sure, China is the one starting a trade war.
Yeah, the entire video is just loaded bs.
Globalism was implemented so the western countries could steal surplus value all over the globe.
And now that China is out of control, it's getting rolled back.
CIA be manufacturing consent
Sure, blame it on the US while China dumps cheap stuff on other developing countries and kills their industry. That's how Chinese supporters operate after all, blame the US and all the crime it caused on smaller countries are cleansed. The entire South China Sea debacle was somehow spun into US aggression by China, while most of the time it's China that's bullying its neighbour.
You cannot convince me that this channel does not get some sort of subsidies from the state department
seems very clearly funded by Whit-e people who are coping super hard with China’s rise
Well they sponsors movies to spread propaganda so I wouldn't be surprise.
The check / cheque clears every video 😂😂
Big cheque coming from the department of propaganda I must assume
Exporting surplus is literally what every country does
Lots of countries run current account deficits
They are not surplus, they are just american propaganda against China. China made those cars because they have an intended market for them. They were actually cars intended for world market - Asia, Africa, Europe - all over the world...and the americans don't want that happening. The chinese are savy businessmen, why would they over produce cars thet they can't market?
@@Eric00700but still they export what their surplus and import what they need……..if you want to balance your book, then export more then…….if you cannot, then it’s your inability…….many people run their family in debts too, because they produce valuable work too less and consume too much…….who is the cause of their deficits? The grocery stores or the travel agencies? 😂
Not with a devalued currency.
@@chiefjudge8456 especially with devalued currencies. What are you on?
The Map is wrong with France, Germany and Netherlands. You need to switch France and Germany :)
Eeh, all the same anyways.
Nobody cares nerd
@@PvPsFinests Don't let the french hear that, lest the hon hons and baguettes come for you
Hey I know this one, It's a classic!
That would be some wacky alternate history outcome from WW1/2
PolyMatter and China deserve to be together. FOREVER.
The openingline "China has a problem" in the voice had me questioning if I had already seen this video 😅
@@jezusbloodie It's THE love story of our time.
Another Polycrap article. If anything, the war was started by US sanctions and trade war.
And never to part
Only question remain: is PolyMatter unionized?
Things are way too affordable
Said noone ever
It is sad to see PolyMatter's video quality declining so much and have to resort to anti-China clickbait
Yep because everytime you dont praise China you must be anti-China. What us the point of a full deck of cards when you only use one, the victim card.
Never seen a Polymatter video before this. Is the narrator always so mind-numbingly repetitive and whiney?
gotta get a piece of that 300million a year state department subsidy for 'negative reporting on china'
Seriously the kinda cash the US openly admits to spending on smearing china can probably fund a marvel movie that does nothing but dunk on china.
@@anypercentdeathlesshe’s an incel Chinese-American or Taiwanese-american . I can tell be the accent.
Took long enough for you to realize it's anti-China 😂
Every PollyMatter video, “China has a problem..”
I guess that is why millions of Chinese are fleeing China & swimming to South America to then march towards Mexico to invade Texas?
while murica is merely a victim
The owners of this channel has Sinophobia in their minds and it’s difficult to treat and remove. Poor things.
propaganda channel.
every country has a fair share of problems and there's nothing wrong in focusing on just one
Part of this video is a good historical recap of China's challenges, but the conclusion it draws from those historical events are dubious. The US and Europe loves to call things as "dumping" and "trade war" when other countries have goods to sell, but when they have goods to sell to other countries they demand that other countries must open up. This is the nature of trade ... every country feels threatened when their own consumers prefer to buy foreign goods (because it's cheaper, better quality, better value, or whatever the reason might be), because then the government would start to lose control over the local economy. "Economic competition" is good until someone becomes so good that the "game" feels "unfair". What China is doing is exaclty what the US and Europe did during the 70s - 90s, when it "dumped" its excess production capacity into emerging markets, offering goods and services at good prices, and gobbling up new customers abroad. It's tiresome to hear the "boy who call wolf" when economic competition creates winners and losers. This is the inherent risk of opening for free trade, which is that you risk having foreign companies outselling in your local market, and gaining control of your local economy. The US and Europe can't preach free trade for everyone else, but then call "foul play" when they start to feel the negative consequences. This video is more about "trade politics" than it is "trade economics".
Dumping is a form of trade war, whoever does it. And China has been subsidized as a developing nation (still is, I believe, for instance they can ship cheaply because of international postal agreements).
typical parroting of western narrative lmao, East Asia has been through it , just that now China is in the front seat
Global south and bric+ nations should refrain from buying costly items from the west altogether for couple of years.
Are there any books you would recommend for someone interested in geopolitics and economy? I'm in stem but recently have gotten interested in global affairs.
@@parsifal40 I praise you for being interested in geopolitics and the economy. I work in STEM but my academic background borders between "technical" and "classical" education, so I have an appreciation for both. Unfortunately, I cannot recommend any book on political economy, because it's too broad. You might be interested in the reading list and syllabus from PPE programs (philosophy, politics, and economics). A PPE degree is very popular at elite universities in the UK and US, primarily because it teach you how to build and wield power, rather than teach you how to "make" things. It's a degree common for lawyers and future politicians. The knowledge from a PPE education is foundational for understanding how nation states are formed, how truth and information can be used to exert political control, and how capitalism and politics are intertwined. On top of this, you also need to understand a bit about how modern economies work, particularly how corporations and nations finance themselves, and how trade politics are interconnected with national security policies.
Needless to say ... TH-cam is not a good place to learn these things. TH-cam is great to hear commentaries and see things from different perspectives, but you should read mostly books and business newspapers to get a well-rounded view. My daily routine is to read either The Economist, Bloomberg, or The Financial Times. Actually, I highly recommend that you just read these publications regularly, and look up ideas or topics that they reference. At first, you'll find yourself getting bogged down by ideas or words that you're not familiar with (for example, what is "capital flow control"), but you will build up your knowledge over time, and start to accrue an informed perspective. Political economics is about understanding the basic problems that all societies face, namely "how to achieve security, growth, and meaning", and how do people design different social protocols and social institutions to achieve these goals. There is no one socioeconomic and political system that's the best in all cases. An informed thinker is when you can gracefully grapple with the difficult trade-offs between different choices, and form a perspective that you know is not perfect but it is in accordance with the values that you think are important.
I'll try to be more concrete (not sure if what wrote so far is any use). The reading list from MIT "Introduction to Political Economy" (14.770) is very good. It's available online through OpenCourseWare if you search for it, but I cannot link because of TH-cam. Cheers!
We have a problem in Canada where everything is getting so expensive that life is unaffordable for many people. We'd gladly welcome price deflation.
@@nnf9431 Deflation is pretty much a death sentence for the current government/country as it currently functions. Essentially if deflation hit Canada, the best it could hope for is that everything would more or less "freeze" in place (so none of the current issues go away), whereas the worst is total economic and social collapse.
@@nnf9431 ya that's a straight up lie, of the individuals who used maid last year only 463 fall into the category of "natural deaths were no reasonably foreseeable" and even those are very likely not because of affordability. I've heard some stories about questionable applications of MAID the majority of it's uses are for those in extreme suffering which will likely increase until they die.
Help out the Alberta/BC separatists! No large host tax base to steal from = no subsidized country invasion = actual Canadians get to live again. Have your own little revolution :)
@@nnf9431 Remember that your salary is also a price that drops during deflation. But people generally don't take pay cuts, so how can the average salary decrease? The answer is massive amounts of unemployment.
@@sajdwajhadeflation means you can print more money.
How Polymatter evaluates the quality of products:
Bridges: How sturdy are they?
Trains: How fast are they?
Airports: How...clean are they?
😂
worst bridges anywhere in fact... this guy is deluded
@@Sir_Godz not really
You need to go there to see them yourself.
@@LaowaiDaveJCP yes really. China is known for terrible quality in construction. Ever heard of tofu dreg projects? Companies cutting all corners possible including paying off inspection officials (this is widespread) to net the most profit for 1. The owner of the company and stakeholders, and 2. The ccp officials who granted the project. There are countless demolition videos of these kinds of projects in China and you’ve probably even seen a few.
@@Bruh-wb3qwnot as common as you think. Go visit China.
Are you telling me that america and Europe don't pay subsidies to every industry.
White person subsidies are good, other countries are evil. When describing how china is descending into a capitalist hellscape, polymatter inadvertently describes late stage capitalism in the west. Well, I really enjoyed how silly this propaganda video was.
If the west believes so much in the free market, perhaps they should not be the ones imposing the highest number of sanctions on the rest of the world.
What about Biden’s ‘Chip Act’? Is that just a small token?
And yet they complain that China subsidizes their new and critical industries. Go figure.
It's easy..no more fighting, China stays out of Western democracies and trades with autocracies, End of Story. Democracies don't need China.
China: build a road to help people move around.
Polymatter: it could be a violation of trade law.
This logic is completely mind-blowing
Lol, I like how no matter what China does, it's made out to be bad somehow 😂
To quote Peter Schiff "if china wants to subsidise its products americans should be thanking them for giving them a free discount"
Which when you think about it. If china intends to operate at a loss for these exports its china screwing itself over with massive debts while the consumer gets cheaper goods.
If anything you should be more afraid of china pulling back on subsidies which would drive inflation right back up and cause even more headaches for net importers like the US.
The trade agreement violation thing was specifically in reference to currency depreciation, which IS a violation.
@@noth1ngnss921 yeah, the logic, mind blowing. I fuk a hooker, spend money, payed taxed, counted into gdp, referece to currency depresciation, violation. perfect correct.
@@noth1ngnss921 The United States is the largest currency manipulator
The part about France is also wrong. France has absolutely colossal subsidies for wine, including regularly paying growers to rip up vines... Which then get replanted and ripped up again... A good friend's in-laws did this a few years ago in Le Gers. There are lots of import quotas for many, many agricultural products, and plenty of tariffs.
Europe, and particularly France, are absolutely not free market at all, and there are plenty of very nasty chemicals that don't get banned, in spite of scientific studies showing they should be, because of lobbies.
Do better.
What you call colossal subsidies are some dozens millions of euros. When we're talking about China putting hundreds of billions into its automakers/solar panel makers/battery makers.
And ripping up vines is the exact opposite of helping producers over produce to flood international markets. We're all waiting to see China pay car makers to rip up plants.
What are these chemicals then
Yup. France is literally the poster child for protectionism and state-led industrial policies. Dirigisme.
Typical xenophobia. Accuses other countries of doing the things they do.
yeah agriculture in europe as a whole is massively subsidised and protected. Half the riots in europe right now are because farmers don't want to compete with cheap US and Ukrainian food products.
What a stretch to use French wine as an example. French agriculture is heavily subsidized and protected. And they only get away with the high prices because they were able to come up with this denomination protections that I don't know how they were able to enforce internationally. Remove the subsidies and the French farmers would no longer be able to play farm.
yeah and you wonder why the french farmers are rioting right now.
@@hughmungus2760 energy prices. the subsidies are high, but still not enough.
The wine is a poor example as there are numerous protections in place for agricultural goods in France, and more broadly, in the EU. Notably, what differentiates sparkling wine and Champagne is just the place of origin. The name is legally protected, and that extends internationally via trade agreements.
South Africa, Australia, Chile and California are producing wines in large scale and flooding the global market with cheaper prices than French wine. Grape farms and wine producers from these countries all receive supports and subsidies from their governments.
Ya, it seems his videos these days have gone down in quality.. and I mean, it's a poor example but he knows this?
Yes, indeed, they do protect it.
He's American... Don't expect too much
It's not just the place of origin it's also the way of making the wine. I'm French so I'm used to this (and I drink Champagne all the time, real one as it's available quite cheaply) but I don't understand the opposition to it. Either the name Champagne means something aka its origin, minimum quality etc., or it's just a meaningless name and why would you put something meaningless on your product ? If the Champagne name wasn't protected then it wouldn't exist as there would be no benefit in calling something Champagne, everyone would assume it's some random, low quality wine.
The funny part is that this comes most from the US, where people can patent and protect all kinds of ridiculous things like the shape of the first iPhone...
Someone didn't do their homework on the obscene amounts of agricultural subsidies French and EU governments provide to their farmers
true, that's my degree and their subsidies are egregious
And the US?
America also subsidizes their milk companies among other things, that is why they can dump the milk instead of selling them cheap - they dump the milk to maintain the price.
16:26 damn i knew geopolitics were turbulent atm but france and germany switching places wasn't on my bingo card
*United States slaps tariffs on and creates protectionism policies for China*.......PolyMatter: Why China is About to Start a Trade War
It's not really "protectionism" when the imports are massively state-subsidized. Of course domestically produced goods with far less state-subsidization cannot directly compete with this and really, why would you want them to?
That's not the message in the video at all, did you even watch it?
@@bigjared8946USA is capitalist, which means whatever the best bang for buck money can buy is usually the one that comes out winning. Why can’t the U.S. subsidize heavier? The current debt ceiling seems to be infinite anyways 😂
more anti china propaganda lmao, capitalist and free market until they start losing
@@chisakihiradaira3477Because US doesn't want to end up like China.
16:26 Germany and France switched places :o
@MayankTrivedi2the chosen people at it again
@MayankTrivedi2nonsense, not in Germany or France
Guten Tag!
@@hairyporter6736wrong tag.
Always has been 🔫
wrong data:over 30 million cars were sold in China market in 2023, not 20-25 million,China car market is larger than the US and EU combined.
China has double US and EU combined population, sells the same number (30 million), yet 29 million are 1/2 the price. China has a car market far smaller than the US or EU each.
@@Enjgine Because China does not count used car deal in it. You should add another 18.4 million to this number. In total, more than 48 million
@@Enjgine 1/2 price? Show me the source!moron, BMW,Ferrari,MBenz,40% of the luxury cars are sold in China market, the average price is even higher than that in the US.btw, China’s population is close to US,EU and Japan combined, but the car sales number is still larger than those 3 combined.
@@Enjgine The size of the automobile market is not calculated as a percentage.
All these Chinese bots trying to make it sound like 10x 1000 is smaller than 100x 50
It's unfortunate that PolyMatter has to resort to anti-Chinese sensationalism due to a significant decline in video quality.
It's sad. I used to like his content
He wants to be able to put in less work and get higher views.
Indeed, this is quite a poor quality mis-information content
Forgive him. He has rent to pay. He knows not what he do-du until he steps in the poo-poo.
2:18 China no longer offers cheap labor. Their factories are very efficient and produce goods at much lower cost.
They are subsidized, not necessarily more efficient
The Chinese subsidized themselves into the second biggest economy in the world
Chinese labour , especially skilled one, is still cheaper compared to west. 600million Chinese earn $150 or less in a month
@@sengwesetogile6054 He is a propagandist.
@@sengwesetogile6054 How many of these are people who lack work ability or are not engaged in production? Including the elderly, infants, and current students?
PolyMatter:
Affordable Cars: Unethical
Expensive Cars: Comparative Advantage!!!
How educated.
The logic of capitalism
The problem isn't their affordability, it's that the government of China gives advantages that violate free-trade rules. Look up "dumping" in regards to international trade.
One big comparative advantage china has is its battery technology. Rather than seeing it as exporting cheap EVs, you should see it as exporting cheap batteries where china has both the capacity and the advanced tech.
i don't think he ever call it unethical. He calls it an economic problem (paraphrasing) which, i mean, it is. fucking over your worker will become and economic problem at that kind of scale
@@ZachDavisForReals Hey I am a huge supporter of free trading. And I know that US is the leader of it. But looks at Biden's CHIPS act. subsidies, exclusive supply chain, force investment, doesn't that violate the FREE-TRADE RULES? Does anybody knows that US have DUMPED corns and soybean to latin America, Affrica and China to destroy their agriculture system? It will be unfair for PolyMatter to not blame US as well
I'd love a $15,000 BYD option in Canada, can't lie... 😬
I would not want to be seen dead in a BYD.
@@ulfosterberg9116that's why you're taking the bus
Talking to taxi drivers in China driving BYDs - they absolutely love them
I thought we wanted to transition to electric cars as fast as possible. I wouldn’t mind a $15,000 BYD rather than a $50,000 American SUV. Blame the car manufacturing industry for pressuring the US government into regulating profit-maximizing land yachts into the market rather than efficient vehicles.
@@ulfosterberg9116 please do tell me why. And remember, there are literally ZERO successful Canadian car manufacturers yet.
"Start"? I thought we've been in one since 2017
That's primarily with just the US. China is currently trending to start one against Europe and all the Global South countries where they've been getting offshored to.
@@doujinflip the usa has been doin the same to south america for 100y ears
@@doujinflip, dude it was the Europe that want start the trade war first.
Whose factories are those that have been moved to other countries such as Mexico?
I'd give you a clue: Check the level of trade between Mexico and the US and check the same between Mexico and China. See if you can find a pattern 😁
@@doujinflip Which European country is China in conflict with?
The first minute of this video made me think I was having some sort of weird fever dream.
😂😂😂😂
Thank you for this hilarious comment. I felt the same, but I couldn’t put it to words!
Boeing receives enormous subsidies from the US, the same as Airbus in the EU. Both dump their products internationally. If your story holds true, then the US didn't pay her people generous enough to buy more private planes.
another problem on china lol this channel should just be named ChinaMatter
$$$
nah, they are just commenting that this video is so full of holes and what they are asserting is really ridiculous, you would too if you remove your blinders and really investigate the facts.
I am a company owner of China. I know how much cost for social insurance and tax paid for a employee. It is pretty high. The enterprise is actually highly taxed. Actually the reason for saving high is not because of low social insurance.For subsidy part， I dont know other trades, for green energy part, the government never paid on time. Believe me, making business is hard, competation is so high. I believe that is why there are more competitive company in China. For consumer part, you can see how many apple, tesla, bmw, benz, audi ... bought by Chinese people, actually, the luxury cars are only ones having up sells in China's foreign brands. Chinese also buy a large amount of electric vehicles.
Travellers to china from the west know first hand that the social insurance is indeed low. You cannot compare china today to china last year. In scheme of things, social insurance is abysmal in china. 1,000 expensive cars in a city of millions doesn't make them rich, it means a few people (less than west) have money. More than half of the chinese people earn $2,000 a year, that is true poverty. China is deeply poor.
@@Enjgine I agree with you, but $2,000 can be quite adequate in some parts of China. Given the vastness of the country and the wide distribution of its population, the cost of living can vary greatly, akin to the price differences between countries with different currencies. Local governments prioritize making goods more affordable for their people. Take eggs, for example: in my years living in the UK, I've noticed that eggs cost 1.5 to 2 times more than in an average Chinese city, and 1.3 times more than in metropolises like Beijing and Shanghai. While the minimum wage set by law may be lower than in the UK, it does not exceed the UK’s by more than 1.5 times. Regarding electronics or manufactured goods, higher-end products like Alienware laptops may be cheaper in the UK due to demand influencing the price. However, items meant to be more affordable for less wealthy individuals-like pens and mugs-are 2 to 5 times more expensive in the UK than in China. In conclusion, those whom you describe as poor may prioritize affordability, and the government is indeed working to address their needs.
@@ShiroX-Code000 A country of poverty defended by masses of paid internet commenters saying their poverty is good for them
@@Enjginelmao ur saying this cuz u cant make a better argument
@@Enjgine so you don't understand purchasing power is dependant of the place. 2k usd in china don't buy the same things they do in utah or LA. china's population is mostly middle class, that is more than what most of the world can say. shame you are too ignorant to even know that.
Slovenia mentioned!!!
YEAHHHHHHHHHHHHHHHHHHH
Hell yeah!
Even coming from a country twice the size of Slovenia (New Zealand) I still know this feeling, lol.
The femboys are happy
Whining about China being unfair to the rest of the world and their workers working too hard will not change the non competitiveness of America. Stop spending trillions on wars and use that money to help American industries and workers.
But how else will our kids learn discipline 🤪
You directly benefit from military spending. It pays for the stability that's allowed the world, and by extension--you--to prosper. The US Navy is what keeps maritime trade going without major hiccups. Protecting US national interests keeps global trade ticking along. The internet, GPS, etc etc....you benefit from it.
@@oldmandoinghighkicksonlyin1368 you r requested to mind ur own business and take care of your own country please
@aslampervez2294 Yes, I live in a relatively neutral country that minds our own business, but this trade war, pretty one-sided, I would say, greatly affects the rest of the world. If you believe spending a disproportionate amount of America's fortune on the industrial military complex, more power to you. To each his own.
@@oldmandoinghighkicksonlyin1368do you work for the defense industry?
PolyNatter: “[China’s groceries are too cheap, its bridges are too good and its trains are too fast]”.
China Uncensored: “Um, listen, come take a seat, let me explain something”.
My guess is that tariffs based on "Made in America" content will be raised to sufficient levels to prevent imports of cars assembled in China. That sounds like a policy that will happen regardless of who wins the election. Especially since EVs are sitting on lots as it is.
Chinese companies: hold my beer while I build 100 car factories in Mexico
@@appa609 Yeah, that lessens the impact for both countries, but doesn't change the end result.
@appa609 both sides have said NAFTA will be blown up if used by BYD to circumvent tariffs by assembling in Mexico. Don’t forget this is a two sided relationship with dependence on openness of us market to Mexican goods not other way around. Let’s see who blinks first or if Mexico’s Alamo comes to his senses
@alexc6926 then buh-bye Toyota, BMW, vw, Ford, if NAFTA is broken which takes the consent of 3 countries not 1
that europe map min 16:26 looks a bit alternate history.
lol! an invasion map ww2
😂🤣🤣🤣 Great catch. The whole video had an alternate-reality filter applied to it.😅😂
Proof the OP is from man in the high castle
The engineer's dilemma is to make something as cheap as possible that just passes standards for safety.
Honestly I would love to see Chinese electric cars in the US. American car companies have become so lazy, terrible, and unoriginal because they bribed politicians to not allow foreign cars to be sold here.
You're thinking of management. The engineers' task is to make everything last the same amount of time. That's why things are starting to fall apart all at once. 😅
Which is why safety standards are usually high. To solve that very problem.
Anyone can build a bridge that will last for 1000 years.
But if you want a bridge that will last *exactly* 1000 years, you need an engineer.
@@AllSeeingEy3lol😂
I lived in china for 4 years as a student, people there don’t earn that much but them standards of living are enough for the people. There are poor people but they don’t complain. I talked to them and they seem fine to me, they told me as long as they can find work and them kids can go to school and china are getting better they can’t get upset. I don’t understand why the west trying so hard to find anything to blame china, show the bright side and be honest. I don’t mind you showing the dark side but don’t only show bad side because I personally don’t start to trust the media anymore
French wine example is unfortunate. There is nothing as subsidised as European agriculture
I'm surprised at how poorly this video has been made, it's not what I have expected at all
It's not badly made, but some relevant points seem to be missing. It's an incredibly difficult topic and analysts don't all agree on it. He has some interesting points of view, though , that are worth following up on.
It poses more questions than answers to me.
Badly made… lol yeah okay let’s see your videos 😂
Yeah its like they didn't even try to hide the anti-China bias
@@wArGa5m1what kind of takeaway is this?
Do you need to be a chef to know if some food tastes bad?
He's referring to his research and not his video creating skills
In many western countries children used to work in mines well into the 20th century. To think that we developed with regulations on labor and the environment is laughable.
Some states are correcting those regulatory "mistakes" from back then and loosening child labor laws! The future of the US looks grim with all the politicians effectively being puppets for the super-wealthy elite.
Sadly, you are so right. On a PBS, American Experience, they showed an old, shocking photo. The Fathers of those Kids used to stand behind them with BULLWHIPS! I couldn't believe it. I love my United States but there is much bad history with us not even including slavery.
Is that at all relevant to the claims of the video? No, you're just derailing the discussion about Chinese exports.
Perhaps only if China is still an agricultural country will they be satisfied
No children work in mine at china also
Keep up with the China videos, you've got competition now
I’d expect to see a lot of creators discussing China’s troubles over the next few years. Get ready lol
@@jamesdeininger3759 It's been happening for years already. There's entire channels dedicated to just mining the China well, and nothing else, for their viewership. And I mean way more than Polymatter does. Typically quite biased and VERY repetitive, but it works. Some of them have around a million subs just from doing that.
@@ArawnOfAnnwnany recommendation?
@@supervince110 For what? Did it sound like I'd recommend any of them? I suppose if you just want to join in the hate train, feel free to mosey on over to China Uncensored or Serpentza. They'll feed you aplenty.
@@ArawnOfAnnwn not really I'm just curious what their arguments are and why people fall into them
The title has Typo? Mistakenly wrote China instead of USA. LOL.
is the first minute of this video an out-of-season April fools joke?
As someone who lives right next to what used to be a huge bycicle factory in Slovenia, but is sadly now defunct, the opening statement hit differently 😢😅
I still can't get over how funny it was seeing China absorbing a county I live next to in a Johnny Harris video. Like I already know manufacturing is mostly dead where I am from, I don't think it was completely China that did that thought.
Capitalism naturally kills off manufacturing after it reaches a certain level of development, this would be that way without China too
16:27 my guy… you got Germany and France backwards 😂😂😂
how is that a "trade war" if they are trying to export more of their cars to other countries? Isn't that the opposite of a trade war?
Bro’s acting like the USA doesn’t heavily subsidise their key industries
Hell the big US automakers needed a major government bailout during the 2008 financial crisis. Due to poor management, poor innovation, and just simply couldn’t compete with foreign automakers.
The rate at ehich you are pumping new videos is pretty crazy ngl
Sponsored by CIA
They publish new video every two weeks whereas The Infographic Show every single day.
Maybe he should slow down since the quality is dropping.
@@Pat_KraPaoDon't even remember why I'm subscribed. The depth of his arguments are as thick as a sheet of paper. Just recite some basic stats published online by the IMF, UN, World Bank and voilà, you have a Polymatter video that goes on for 20 minutes for some reason.
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Would’ve liked to see included in the video if there is a plan from Beijing if Europe starts introducing heavy tariffs on the cars, and exports don’t sell well in Europe
With all the competitive advantages, China will mainly sell cars in Russia, Southeast Asia, middle Asia, middle East, Africa, and Latin America, competing head to head with cars from US, Europe, Japan and South Korea.
Consumers in these regions are more than glad to see more affordable cars to choose.
Chinese automotive demand is extremely undersaturated because of strict licenture requirements in the big cities and they can choose to ease this at any time to increase consumption. There are about as many cars in China as in America, except China has 4x the population.
It's a difficult line to tow and Chinese carmakers are definitely going to start making cars in Europe. Even the EU isn't united about the tariffs. The French are pushing for them but the Germans are understandably, trying to tow a very fine line. Interesting to see how it plays out.
Basically only the US and Europe should have "overcapacity" in high high value goods. Such nonsense. And you forgot about subsidies for Green Energy in US and Europe to their own industries too. Lets not talk how much US is subsidizing chips in America
This guy needs to fact check himself
Yeah, Chinese wages are lower compared to the west, but they are definitely higher than other developing countries and continuing to rise
Show a Foreign Direct Investments chart along with the GDP growth and where it is today, that will answer the question how many of those cars will be permitted on EU/US markets.
The building highlighted at 1:32 is a Field and Stream, the REI is actually across the parking lot in the rectangular building.
Funny to see a local place on a YT video.
I was thinking the same thing, Look its the Easton area with Costco to the South!
Cheap Chinese cars would be bad news for the relatively few Americans and Europeans who work in the auto industry, but it would be good news for everyone else.
could this be the reason for them shitting on the new technologies? 🤔🤔
I SMELL A HEAVY PONG OF JEALOUSY in this video..
Stop SPREADING WARS ,
FOCUS ON UPLIFTING THE HEALTH, WELFARE & WEALTH of your citizens..
Simple..
I hate authoritarianism, but acting like cheap, long lasting products is bad, is just dumb.
In that case the problem is the system that makes a good life for all unsustainable.
"China has a problem: its groceries are too cheap....nearly everything are becoming more and more affordable by the day'. As a westerner whose livelihood is dented by high inflation from groceries to gas, how is that a problem at all??
As a westerner , I wish groceries were more expensive, by that I mean I wish western people would be willing to pay a price that would allow agricultural workers to have a reasonable standard of living. I wish people would really understand all the work that goes into putting food on their table, water coming from their faucets and electricity to their appliances.
hmm groceries, basic necessities for people are "too" cheap. Is it better to have inflation?
A small amount is better than deflation in most aspects. If you have debt, that debt loses value. If you get a raise you probably have to keep it. If you import stuff to make other stuff it makes it more expensive to make less money. If saving money makes you more money, your probably not going to invest it hurting growth.
Its cheap because demand is low, chinese companies aren't making enough money. Look at chinese stock indexs, its fucked.
@@justinr9753 What? having debt lose value is bad? I think you mean leveraging debt to buy assets such as real estate. And the deflation has caused real estate prices to drop. Yes, if you are speculating real estate, and you buy too many properties at too high a price, then the deflation of houses will burn you.
I know I'm a bit late, but you are one of the few sane voices on the comment section of this clearly propagandistic video. Thank you for that, and keep it up man!
cant say this enough your voice is totally bad ass perfect for narrating
This video suggests that China can produce various goods so cheaply, quickly, and on a large scale because of cheap labor (or "low human rights"), massive government subsidies, and disregard for intellectual property rights, among other reasons. I do not wish to comment on these views, but it's necessary to point out: 1. Labor costs in India, Southeast Asia, and South America are even lower than in China, yet they have not become the world's factory; 2. The Chinese government does not subsidize all industries, at least bicycles are not included, and only a very few industries considered to be of strategic value receive subsidies, yet almost everything produced on a large scale in China is the cheapest in the world; 3. While China's emphasis on and protection of intellectual property rights still lag behind developed countries, they are the highest among all developing countries; 4. Over the past 50 years, the income of ordinary Chinese people (adjusted for inflation) has increased 60-fold. As a Chinese, I cannot deny the problems mentioned in the video (they indeed exist). However, China's real success in becoming the "world's factory" and its economic development to this extent truly rely on effective management, hard-working people, and an exceptionally large market (which ensures that almost anything produced is cheaper).This video is more biased and hostile than factual and logical。
At 16:23 you have confused France and Germany on the map 😶
Make video about slovenian bicycle industry
My biggest take away was that continuing to purchase cheap Chinese products will eventually bankrupt the country that produces them. I have to be missing something, but this was a super interesting video.
so you know this is a bullshit video.
It’s unfortunate and disappointing to see that the video quality on this channel declining. It used to be one of the very few sources from outsiders that stimulate insightful discussion on complex issues in China. But it has since degenerated into a click baity, self repeating mediocrity, possibly with the intention for more view and profit. As someone who has lived in both China and U.S. for many many years, I understand the immense difficulty of unraveling these issues, especially when they are controversial. That’s why I used to respect this channel, often writing long comments to share my experience and observations, until the recent few videos. For this video specifically, the author failed to provide an intellectually satisfying conclusion. The “trade war” in the most general sense has been ongoing for many years on all kinds of goods. Therefore it’s no surprise that EVs are now becoming the commodity of interest. The analysis leading to it is somewhat insightful, but it has too much repetition and almost feels like a deliberate act to extend the length of the video. The most unacceptable part is the ending. A “trade war” is looming, so what? What would be the economic consequences to China and the rest of the world? I know it’s hard to provide an answer without stirring up some angry comments, but ending the video here is just lame. The whole “trade war” thing just felt like a cliche that has been abused by thousands of other mediocre medias online. I spent 20 minutes watching this video for this? Sorry but I will unsubscribe, from nebula as well. This might be my last comment on this channel if nothing improves. While I don’t blame the author for playing safe, focusing on views and profit, I won’t pay for it anymore, due to the lack of intellectual value.
Yeah, he is just repeating what the American media has been trying to tell Americans for years. The fact is that the US never import any Chinese cars, the US market is also reserved for Japan or Korea, same as the smart-phone market. Chinese government planned for EV and clean energy for so many years. This is the advantage that they deserve to get, just like the US got the chip advantage in China in the past. This is called competition, price, quality and performance.
China is able to produce manufacturing products cost-effectively because China has more complete integrated supply chain and skillful work force.
If they can send us cheap stuff, then what's the problem?
Why do we need endless economic growth?
Why is there so much whining in this video?
That country makes lots of products cheaper and more effectively than many other places in the world. Lets benefit from it rather than moaning.
I'm in the UK and had been wondering why I started getting loads of BYD ads all of a sudden
BYD cars in UK vs BYD cars in China. Same quality car ones sold in UK cost more for customer.
But then BYD in UK might be better value than a non Chinese car of the same quality.
But then UK customers always seem to pay more for the same quantity & quality compared to other parts of earth. No matter the product.
@@sammytsang2948brexit
16:25 I can see you're an American XD
Because they are not in inflation
They are in deflation
Double edge sword.
“Start”
Headline should be changed to "How China Reacts to Trade War started by the West"
Wow look another wolf warrior I wonder if his name relates at all. What happen why does the strong CCP so hostile to foreign open markets now panic they’re closing. What happened worried about another Great Leap Forward, enjoy your new Mao, and new period of deflation and export drop. We know you don’t consume.
SEATTLE MENTIONED
The problem here is _worse_ and harder than this program lays out. Many countries in Asia and Europe have very similar demographic and economic problems to the ones that plague the prc. Add in nationalism and you have a deadly brew. Many European and Asian countries are looking at population declines and low or no growth in demand in the future. Add ongoing subpar overall growth in Africa and you can see what manufacturers and exporters around the _world_ are worried about. To his credit, I think Zeihan figured a lot of this stuff out _years_ ago.
Cheap / affordable goods are good news to poor / developing countries .
China is working on One Belt One Road , on Trades & Infrastructure projects .
The US is working on One Bomb One Road , on Wars & Bad Mouthing China .
It cause mass layoff in developing countries because local companies. Millions of unemployed people in developing countries. Why can't 1,4 billions people consumed its own products??
Mass unemployment causes poverty and instability. And higher crime.
Why do US and the West not adopt whatever the Chinese Govt is doing to help its people ? Is it because the democracy model must be practised differently ? Come on, do what is best for the country and not for the select few politicians and corporations !!
Can somebody good at economics explain to me how consumption foster economic growth and makes an economy more resilient?
Intuitively, you are not producing anything of value by simply consuming. Sure, companies make more profit out of more consumption, but ultimately, no value is brought into the country's economy.
How is it considered to have the same importance as exports?
if an economy produces goods but nobody consumes them, the cycle is incomplete and nobody prospers. the goods rot on the shipping pallets, the producer cannot pay their labor or make more goods, and the people who would have consumed them have no goods. and as a result, if nobody is consuming, the producer makes less going forwards, lays off the workers it no longer needs, etc. thus shrinking the economy. economic health relies on all parts of the cycle to be in motion
@@keyworksurfer Thanks for the reply, I do agree that consumption plays a significant role in the economy, but what I meant is that "does encouraging consumption grows the economy?"
Countries like Sri Lanka imported (consumed) more than they exported, which proved to be unsustainable for the national economy. Consumption should be just naturally increasing with a more developed economy. Then why should developing countries like China encourage more consumption?
@@sophisticatedpotato9255bingo. The Chinese problem is by design, because they realize the ability to produce real goods is where the real economy power is at. They know exactly what they are doing.
I failed to see the part where there is a problem.
Chinese being able to have the same or higher living standards compared to Europeans & Americans at less impact to Chinese wallets is a problem for western politicians, if the western voter finds out how much products should really cost.
If everything is made in China by Chinese companies then there are no jobs for Americans. And without jobs Americans can't earn money and live.
@@sammytsang2948 Political talking points are more important than cost of living. It's a problem. 🤣
At best this is concern trolling for the welfare of chinese workers (who are still seeing faster wage increases than any western country) at worst this is paid propoganda to justify western sanctions and tariffs against chinese goods.
16:29 I think France and Germany are mixed up
Watching this on x2 speed saved me. You talk too slow and drag the video where it’s not needed
Why the world is upset of cheap solar panels, toys and automobiles??? I could not understand the logics of the video maker
I feel one point that needs to be covered. Is that since China’s meteoric manufacturing rise since 2000 and the corresponding tens of millions of lost manufacturing and their support industry jobs in the west, Western politicians now will not allow one of the West’s last jewels of manufacturing, the car industry to be also decimated by cheap Chinese car imports. So I feel that you will see that there will be all sorts of restrictions perhaps even outright bans on Chinese EV vehicle exports in any serious numbers to the west.
GM has been selling more cars in China than in America for years.
Without the Chinese, the American auto industry would have been bailed even more times that they have been in the last 30-40 years
total collapsed as well.
Weird intro. The bridges(and other instruture) are definitey NOT too sturdy.
A number of buildings like schools, arpartment buildings and even massive dams had revealed major structural integrity issues and outright failures like collapses. Groceries may be cheap but there's a LOT of substandard products and outright fake meats(low quality advertised as high quality like fake rice, meat wastage glued together, sewer oil etc). That's also makes no mentions of assets, particularly real estate but also equities/stocks that are currently massively falling in value.
Furthermore, Trade War was definitely started already by the US, and Europe as well specifically regarding Chines EV's in Europe. If anything, it would just be a response by China.
Maybe you could argue that government subsidies by themselves are starting a trade war but that also something US, Europe also engage into though in fairness not to the same extent as China(in the past anyway).
His voice sounds more natural if you speed it up by 1.25
I watch it at 1.5x.. the videos are intentionally slow to reach time limit of youtube
This is a little weird. The tone is pretty negative, sounds a little biased and I'd even go as far as to say propaganda like. You're framing these very good problems to have as society collapsing. There problem is they're literally producing so much that there isn't enough local demand to consume it? Maybe I have to give this video a second watch or something because you sound like you've lost it, dude.
Hey, you are 4 years LATE ! USA had started it already.. now it's just tit-4-tat.
Polymatter is the type to come up with a narrative and selectively pick evidence to support it
8:30 Is this some kind of joke? You show a nice retail area with nicely dressed Chinese people walking around with their cellphones talking about how the have no money for their own consumption?
Don’t believe your lying eyes.
Yes, that one retail area is representative of 100% of everything going on with the 1.41 billion people in China.
@@themantimeforgotx A lot more of China is like that than one area. I do business with people in China. They are hard working people and offer much better customer service than I get with American companies.
@@ericthehalfmexican9187 "They are hard working people and offer much better customer service than I get with American companies."
Ok, this means nothing in the context of what we are discussing other than a possible bias. I have no doubt more than one area is. The point is a few circumstantial areas is not representative of a whole. It would be like saying America has lots of black people because in all the major cities I visited there were lots of them around. But America is only 13% black and they tend to mostly gravitate to major cities. Your eyes can deceive you. The data is what is important.
@@themantimeforgotx那个拿手机的画面是现在，下一个画面是10多年前，这就是故意扭曲事实。并且用滤镜让画面看起来更不好看。
If China will provide me with cheap stuff then I am on team China.
This video is also a pretty good handbook on how to write a Cyberpunk economy
However, everything you highlighted at 3:25 is presently languishing in a Chinese graveyard, decaying alongside an oversupply of products, much like those 20 million apartment buildings. Moreover, numerous skyscrapers in China stand half vacant, and airports remain partially deserted due to the absence of international travelers.
"Never let the truth get in the way of a good story" - Mark Twain