Regular viewers might notice that we did a video with a very similar title a few months ago. We changed the title on that video after commenters rightly pointed out that the video was 95% focused on China's new economic reforms, rather than the Global South's reaction, but we still thought the topic was worth revisiting because, in the past few weeks, 2 things have happened. First, "overcapacity" has become an increasing hot topic in global politics; and second, we've seen a slew of trade barriers erected by various Global South countries, which we detail in the video. Anyway, we hope the video better reflects the title/thumb this time around, and thank you for watching.
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4:49 Ok, tbf I'm not familiar w/the global south term, How is Australia part of the global North when its south like the rest of those in the global south? What, Is it a nice way of saying poor?
@DennisTheJuniorMenace It's basically a way of saying developing countries without implying so much of a hierarchy that is implied with terms such as "the developing world" or "third world".
@@DennisTheJuniorMenaceBecause simple pals these are propagandas, they group the collective West into North Group so that it wont be appear in the South group >> proceed not to talk about the North part >> show some countries in the South that reject the goods but failed to mention these nations are not too close to China either way. In a way making the problem looks slightly more relevant to magnify its fake narratives, spread fake anxiety about a problem that virtually no nation or people are noticing let alone care about it 😂
@@MachFiveFalcon The only problem is that the 1st sitting of our parliament is on friday and an agreement has to be made by then. If we don't elect a speaker and a president then election will be held in 90 days. Our parties have ~2 weeks to form a government before our 1st parliament sitting. That isn't a lot of time compared to have much time other EU countries have to negotiate which is usually takes months. 🤞🏻 for an ANC+DA+IFP government.
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5:26 Brazil didn't raise taxes for china imports. It raised taxes for imports across the board, period. From every single country, including China obviously.
And is china part of Brazil? Come on you're so close to figuring it out! If they are taxing all imports from foreign nations... and china is not a suburb of Brazil... then what does that mean for tariffs on Chinese imports?
When the factory is in Mexico, the product is no longer Made-in-China and employs Mexicans workers and under Mexican regulations agreed on by NAFTA. Meaning the factory will subjected to minimum salary wages, medical benefits, taxes...etc. We in the NAFTA alliance (US, Canada and Mexico) are OK with this.
you can't allow china to become too powerful. but the us cannot be the world hegemon any more. balance of power and distribution of power among as many as possible is better than unipolarity or two poles.
They are trying to have Consumption-based economy like the US or UK. But since wages are very low and their purchasing power is really low, it's impossible to transition to that. They have to kill their export industry overnight and switch to service based economy with large population who can't communicate in basic English and lack of knowledge about the world's market due to the Great Firewall the CCP enacted to its population.
The domestic market is too poor, and the shrinking population makes it unstaintable . Exporting isn't sustainable either since many chinese sectors aren't profitable .
yeh, it's interesting that some of the countries in the BRICS group which are supposed to be a political and economic counterweight to the G7 dominated by China (at least, in China's mind) are putting up tariffs on steel and other products
@@climate-moneymakingcampaig305 Still it would be nice if there was an actual international currency that is based on the whole world economy not controlled by single country that could weaponize it against others.
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There is no overcapacity. China can't even fulfil its own national demand. "Overcapacity" is a Western propaganda myth (just like 99% of all other negative things the West ever said about socialist countries). The real reason "nobody wants" China's products (everyone wants China's products except the dictators of Western anti-democratic regimes) is because the collective West's elites require capitalism to persist... but when people wake up to the fact that China's system is better and offers better goods and services at a lower price and faster pace, they will realize that capitalism is bad and demand China's system.
What is funny ??? When the US, Europe and Japan were flooding China with their cars, we never hear about over capacity. So , when these countries produce in excess of what they produce it's not overcapacity !!!
Here in Australia we love the influx of Chinese EVs that are forcing other manufacturers to you know… compete. Prices are falling fast and people are realising just how massive the margins on EVs have been given the $15k price cuts on some models. We don’t have a domestic car manufacturer so it’s no skin off our backs
Beware, as you can't get spare parts for these EVs. When it comes to sell them the trade in value won't meet your expectations. Car dealers can't resell them. They dont want the worry of warranty for a battery costing 50% of the car. Add to that battery technology is advancing and lithium batteries are old hat.😢😢😢
West, USA and Europe should stop all Chinese trade - in the long run you pay with your lives for supporting China with trade. Everything you will earn with China you will lose when China supports Putin's invasion of Europe and USA. Europe is already threatened and is forced to quadruple it's military budget, the same with USA. China's support of Iran and Russia have destroyed global peace and security and will cost us tens of trillions of dollars of additional military expenditures and perhaps a few hundred million lives lost in a future war. The whole concept of global trade with totalitarian hellholes is inherently flawed because all the benefits are temporary and the risks are truly existential. West should totally isolate from Russia and China and live well without Chinese products and Chinese spies in our cities
Funny to see Ursula von der Leyen talking about this, when in fact Germany did this to the EU for almost two decades now, destroying the economies of many souther european countries. Also keeping labor costs as low as possible to keep outcompeting other EU states. So no one in Germany benefitted from it except large multinational corporations.
Its more of a loss for the consumer. Rich people arent really buying from shein its mostly the middle class that are and now have to pay more if they want. The talking point is "to protect local business" but its to actually maintain the wealth and power of the local aristocrats that control the government. They dont want to cut their profit to compete.
@@spaceman69 Shein and Temu are relatively recent, the middle class were doing fine without their goods, why is it a problem now if they're being made to pay normal prices instead of undercutting their local workers? Say they start buying the cheap crap, then their local economy suffers as they can't compete with the cheap subsidised crap from abroad. Now what?
There's been some talk of tiny penalties, but yeah it's hardly enough to stave off the incoming flood of cheap goods. Not surprising though. Thailand's elite are known for being Chinese bootlickers.
Bullshit, i hear people shitting about tourists everyday. Chinese products are cheaper,which for us is good enough. I hear about it all the time,everytime something turns out to be made in china theres a sigh but they don't wanna spend anymore so they just go with it
You know they’re playing the neutral cards right? They also have Japanese goods and American goods flowing into the country too. All they want to see is getting cashflows from those countries.
Thailand has no industries, that you see, that needs to be protected. But they are very strict to protect Thai jobs. No foreigners allowed to work. (well, not jobs that Thais can work at least).
Chinese imports are low because of domestic subsidies and protectionism. Domestic Chinese goods are almost always cheaper than imported goods. Raising demand would mostly lead to more consumption of cheaper Chinese goods. Structural economic problems are not fixed by just increasing government spending
All makes sense. The reason why we, British people, should be happy with cost of goods going up over 200%-2000% over the last few years is because China is able and willing to provide cheap and affordable goods for us. And this is bad because our top 5%ers are losing money.
@@thegreatdane3627 losing your job because of outsourcing wasn't a problem at all for western policians ("it's just the free market. people will have to adapt"), when european big businesses were still pocketting the profits in the 80s, 90s and 00s. now that chinese companies are not just supplying cheap parts but exporting on their own and getting the profits it suddenly becomes a huge problem. this just shows how our politicians don't give a fuck about our people and are only interested in the profits of the super-rich.
@@thegreatdane3627 well for a start our industry was sold off to America and other foriegn powers long before China became what it is. Second, India is a bigger foriegn power affecting British industry. Third, our industry will never recover as we have sold ourselves to the needs of America so unless they say we can start rebuilding our own industry, it'll never happen. Finally, we don't have many people that want to do the hard graft work or work for cheap, so buying British (or buying American) basically means paying alot more for what you want.
Finally someone can say this. If it wasn't for Chinese keep pumping cheap goods into international market, the western big bust would happen already due to the overcapacity of printing money. No quote needed, as it is definitely an overcapacity. My personal speculation is that back in 2018-2019, firms like Temu or Shein would not allowed to enter UK or US before the Covid overprinting.
@Volga_149.20_kHz Its hard to compete with a country that does not employ the same ecological and human rights procedures. Western companies have to compensate their workers fairly and dispose of their waste properly, Chinese companies do not. This makes western companies uncompetitive against Chinese companies that dont have such limitations and sometimes even get subsidies from Beijing to keep their prices low...
Hurting their pockets better than shutting down their local businesses and rely big on importations that has long term negative effect or disadvantage in the future isnt it?
@@I_am_somebody_1234 "Its hard to compete with a country that does not employ the same ecological and human rights procedures." You were not having this perspective when you were making bank on those very same things at the beginning. You called the people who complained about this discrepancy in regulations; giving these companies a competitive advantage at the cost of fundamental rights racists, to shut down critic and keep your profits. Wonder what changed ... Could it be it's affecting you now ? Oh dear.
@@I_am_somebody_1234 Western countries don't do that either, but they're at least closer to it than China. A race to the bottom for standards would not be good for people.
This is laughable. The US and the West, which don't produce much and rely on printing currency in exchange for real goods produced in the global South, complain that China produces too much, inventing the oxymoron term "overcapacity." In reality, they should be talking about the global North's parasitic undercapacity while enjoying lavish unearned wealth through reserve currency, the Petrodollar, financial neo-colonialism, and uneven exchange. How about developing their own production capacity and internalizing depletion of natural resources, pollution, and real cost of labor instead? The FREE TRADE was working fine for the West as long as its multinational corporations could come and destroy local economies and until China became a competitor. Now, they are installing 100% tariffs, precluding access to the resources, and waging economic war - because the West can't compete at anything but the parasitic financial Wall Street and Real Estate. Stop spending a trillion dollar per year on military and spying, stop invading, bombing, sanctioning, killing, starting, stop feeding the oligarchy, start funding domestic social programs, start producing. Pittiful mouthpiece of the oligarchy.
Wish I could give this more likes. I think most Europeans are under the impression the global South like their governments when the reality is so much different. The global South would rather deal with China than the US.
In Brazil we really want chinese products, but our government absolutely loves taxation, because they spend like hell. But the implementation of taxes was Very impopular.
@@millevenon5853 the Brazilian government already have the highest taxes in ALL of latia America, and with the new reforms, It will be even higher. The problem is that the actual left wing government is a big spender in useless things, and also increased the público workers wage to become more popular, and also try to "protect" our industry, even If this industry refuse to modernize itself.
As a South African I say sa manufacturers must lower their prices and start competing. We buy China coz it's cheap and value for money. Local manufacturers should make cheaper stuff, these policies always seem to favour big business, never the consumers. I don't understand how citizens can cheer paying more. China isn't the problem in SA, high prices in SA are. Solutions should not be to kill the customers to pay more, the solution should be to make local manufacturers make more affordable staff, this will increase demand
That's because these type of pages have am Agenda to push. A country for example raising tax on Chinese imports on certain goods to protect domestic production is suddenly seen as "China falling out" with said country which is simply not true. China still maintains great relations with the most of the Global South.
Claiming that Chinese workers are not paid enough as to consume more import goods is a fallacy. That could have been true 20 or 30 years ago, but the purchasing power of Chinese consumers has increased significantly over the last few years. A proof of that is the fact that China is the biggest market for hi-end brands like Apple, accounting for their 30% total revenues (let's agree that Apple products are not precisely cheap, but curiously Chinese consumers can afford them), it is becoming an increasing and interesting market for luxury goods, including super luxury sport cars, luxury apparel, and other goods, and it is the main market every foreign producer wants to sell to. The so claimed "overcapacity" of China is due to the fact that it is a 1.4 billion people country that has well invested in educating its population and has taken them out of extreme poverty through an unparalleled industrialization process, largely supported by Western companies that moved their production facilities there due to the investor-friendly environment the Chinese government created to attract foreign investment and the low-cost labor force (at that time, not now). Today, China has not only became a producer of practically all kinds of manufactured goods you can imagine, but it is also extremely efficient in its supply chains and logistic processes, and that's why it has maintained its leading position as to top 1 manufacturer in the world. In simple words, they have the capacity to produce more than the world can demand due to their efficiencies, and they buy less from foreign countries basically because the other countries altogether have no enough capacity to produce what China demands, due to their inefficiencies. China alone produced 30 million cars in 2023, more than what the US, Japan, India, and South Korea -- the next 4 main world car producers in 2023 -- produced altogether that same year. The US, the second largest car producer in the world, only produced 10 million cars, one third of what China is capable of producing. And that production not only include Chinese brands, but also European, Japanese, Korean, and even American brands that produce some of their models in China. Why? Because China is more efficient and can achieve lower production times with lower costs without comprising their manufacturing standards.
China social structure totally of opposite of what u praise from one child policy to no child policy. China economic boom was due to one child policy and now the same policy will doom China economy. A person with no family responsibility like upbringing of child can have good saving now good purchasing.
Do we really have an overcapacity problem when it comes to renewable energy, batteries and EV's? Surely we need to be accelerating the green transition.
EU say how Chines EV are 2 cheap while EU selling basic EV cars for 50 000 euros ,CHines cars are not cheap is that EU cars are insanely expensive .ANd whats with that VW ID3 cost 3 times less in CHina then in EU
@@animusadvertere3371 maybe not but they are greener than driving an ICE car. Obviously not as green as walking or cycling but that's not a fair comparison.
The sad part about Brazil is that a large amount of our domestic industry has already went bankrupt so those high taxes will only protect retail corporations. Also, domestic goods are so heavily taxed that even without Chinese cheap goods most new companies can't have a profit.
Yeah besides i think they forgot to mention this isnt new by Brazil, like we tax everything no matter of its china or the west so that isnt “brazil falling out form the global south”
It’s sad, that the govt and the big corporations have shenanigans and corruption infiltrated the country. Taxing everything, and the ultimate winner is the govt and big monopoly, rather than the citizens.
Tariffs are a tool. A dangerous tool. It is a short term band aid, but left on too long can hurt yourself. A good example is the US steel tariffs. It failed to save the US steel industry, and contributed to the devastation of it's shipbuilding industry, and is now hurting it's automotive industry. Managing the economy of an entire country so big is a very complicated and difficult task. And easy to screw up. Why are Chinese EVs today so cheap compared to American ones? Why does the US find it impossible to match China on price? It is easy to make accusations of dumping. But China isn't losing money on every car they export. It would be stupid for them to do so. But more importantly, I don't see a problem with us taking those cars. We will subsidize our manufacturers a little, keeping them alive, but with most of the manufacturing capacity mothballed, and we take those Chinese EVs in the meantime. If they stop the subsidy and raise prices, then we restart our local industry. If the US want to subsidize cotton and corn farmers and produce an oversupply, so much it cannot consume it all domestically, and have to export, other countries will take them gladly, and tell their own farmers to grow something else.
@@Zergcerebrates it is something they have been doing, i think tldr forgot to mention it but even though the tariffs increased we also finished a bunch of economic deals with china to brind manufacturing here
@@VodkaPandas China has effectively weaponized free trade by systematically enslaving its labor force and trashing its environment, with the end goal of monopolizing all manufacturing industries. This recalls the excesses of unchecked capitalism in the early 1900s, before child labor and consumer protection laws were enacted.
@@VodkaPandasfree AND FAIR trade. We complain to china the same way we complain to japan before it and US before it. Stoo your victim mentality. This is chinese fault.
@@absentmindedshirokuma8539 No one complain about the US before, because if they do, they gonna coup the governement to sign a free trade deals, the west is angry because they can't get China to sign a plaza accord the same way they do to Japan and Germany in the 80s.
@@absentmindedshirokuma8539 China is selling at fair prices, the reason a few rich countries are complaining about China's prices are too low because they are rich countries! Most countries in the world are still poor, they find China's prices are still too high! China welcomes those rich countries to pay more if they want, China will gladly accept their money.
Not as long as there are wars here and there and US are making sure it does so that military industrial complex, US's biggest exporter continues to do so 😁
the term “global south” isn’t really geographical… just like “the west” includes the UK which isn’t west it’s centre (as is france … and germany’s kinda east but part of “the west”) politics. not geography runs this world …
Probably worth discussing the differences in labor laws and regulations between China and the countries that have tariffs. It's pretty easy to undercut manufacturing in higher regulated countries in this frame of reference.
@@flubalubaful If me buying a chinese product makes my country face unemployment then so be it Keep your politics out of my wallet Free market . I can buy chinese products. If my economy is so screwed up that me buying chinese products create issues then tell your ceos to loose their belts I ll buy more chinese products. To hell with your politics
Ya politics are freaking out about the decline of their domestic manufacturing industry. An industry that doesn't get any government stimulus and that they intentionally ran into the ground in favor of corporate greed in the 1980s.😂
The real reason "nobody wants" China's products (everyone wants China's products except the dictators of Western anti-democratic regimes) is because the collective West's elites require capitalism to persist... but when people wake up to the fact that China's system is better and offers better goods and services at a lower price and faster pace, they will realize that capitalism is bad and demand China's system.
Brazil is similar, deindustrialization ongoing but they now put a tax on products from China, products which aren't even produced here. Effectively, the lobby wasn't from the industrial sector, but from the commercial sector. They want to buy cheap from China and sell expensive to us. Middle man parasites
The perception I have is that the global market is like a big poker table, where China plays so well that all the other players have to team up against it, otherwise it will take all the chips from the table.
@@Zergcerebrates When the government is subsidizing industries, not really. If every country subsidized everything to maximize capacity, then they’d all price war themselves to the ground. And it’s not like China is above protectionist trade wars either. Ask Lithuania or Australia.
Have you missed the part where they have been caught manipulating those numbers on literally every report? They were estimated by like every outside report to be under representing their export share by reducing it to as little as half the actual number, all that means is that after getting told off they decided to say it was higher, that is literally the only thing that tells us. Also these are NEW tariffs so they wouldnt be in that report there genius
@@budisuwandhi6818 is that supposed to be a coherent thought? Also my name is constant chaos because I'm a first responder as it says in my bio lmfao, any more deranged personal attacks in lieu of substantive and coherent arguments? please get psychiatric help.
Although I agree it's best if we produce locally, export our strengths and import to make up for what we don't have, it just seems like a pipe dream. One general thing I see is that overall, developing countries are in effect willing to work harder to manufacture, while developed western countries just want to sit in an office. There could be many reasons, but one reason is that developing countries, in practice, have far less worker protections in place compared to developed countries leading to cheap labor. This is "good" for developed countries because at least it's not happening in their country. Developed countries might have laws in place to prevent importing goods that they believe are produced with unfair labor, but this feels largely virtuous as the market seems to find a way around it anyway. It's like we have stop buying the next iphone, or produce it locally so we can't afford it anyway.
Developed countries just want to sit in an office is a dumb statement, Developed countries boast agricultural capacity we the developing nations could only dream of , construction is dominated by the developed countries, RAW scientific research is dominated by developed countries, just look at the AI boom, developing countries are going to gain nothing, we'll just be spectators.
@@samuela-aegisdottir Define unfair subsidization? All countries subsidize their own. Or maybe it's western protectionism at play. Everything was fine when everyone dumped their production facilities in China and got cheap parts for expensive products racking up profits. Well, now we can get same quality products cheaply. The tariffs are there not to stop export, but to fill up state coffers at the expense of the consumer.
Where is my literate, polite, benign comment? (I do NOT like or subscribe to any channel on which my comments disappear and free speech is not honored and respected.)
THIS ARGUMENT IS SILLY, IF YOU TAX CHINESE EXPORTS BUT DO NOT TAX THE SAME PROFUCT EXPORTED BY OTHER COUNTRIES, YOU WILL NOT BE SAVING ANY LOCAL INDUSTRY, IS IT NOT?
As a Mexican I see the exact opposite happening here. My city is filling up with chinese car dealerships, industries , chinese people buying real estate etc. And I live in Puebla. I can't imagine how bigger cities like Mexico city, Monterrey etc. are perceiving this. But it really doesnt bother me. On the contrary we welcome chinese investment.
This channel is a joke. China's co-operation with LATAM countries will only grow in the coming years and Mexico in particular will be the base in which Chinese cars will be manufactured and sent to the N American market.
@@PAPO9609 The Chinese have been responsible for some massive speculation bubbles in their homeland and major cities around the world. Especially in real estate. Whatever happens in Mexico I hope God guides them to the right path.
One month ago Russia imposed $10K "Utilization fee" for imported EVs (de-facto all EVs are imported from China). The "Utilization fee" will reach $20K in 2030 (at current exchange rate)
There's absolutely 0% of love involved in the Russian-Chinese alliance. Especially the Russian side likes to say the Chinese in their face how much they hate them like today with that imperialist Mardan saying Russia should subjugate China. Not just that, I get the impression those typical Russian propagandists are actively pushing Europe for protecting their car industry. Really silly to see how one moment those propagandists are saying they're waging war with NATO while a few hours later they say things that are good for Europe's car industry. Not just that, I see Russian propaganda saying they rather have 5 year old European 2nd hand cars imported via Dubai over new Chinese cars or locally built Moskvichs which are Chinese cars built in Russia.
The problem is not comparable one-to-one. UK had overcapacity but was getting outperformed at quality and innovation by Germany, hence WW1 and later WW2. China is not good at war and they know this. They'd prefer to wear you out economically, as they can outproduce most countries at a competitive level. The issue is if the US sees so squeezed that it needs to protect a market and exclude China from it - which may lead to a confrontation. BTW: The term "Made in Germany" was mandated by the UK government back in the day on German imports, so the British consumer could distinguish between the inferior German products and the domestic ones. Guess if a British consumer has to choose today between a "Made in Germany" car or one "Made in England" (if there are still any).
are you a joke, right? you're not seriously arguing that China, a totalitarian country where there's no democracy, human rights, rule of law and who LITERALLY wants to invade Taiwan and genocides Uyghur Turks is better than the West?
NZ and Australia are enjoying one of the cheapest (perhaps cheapest) EVs in the world due to non-discriminatory import duty...doing it bits for the world climate.
“If Chinese workers are paid more… “ . This is ridiculous . It’s not about how much Chinese workers are paid but how much they want to spend on consumption. Chinese love working hard and … saving ! And the government doesn’t want to artificially stimulate that consumption . Very simple
Chinese solar panels have a Bad reputation. They normally aren't up to spec. (output) And they deteriorate very quickly. Panels that are supposed to last 15-30 years generally need to be replaced after 5+ years due to materials breaking down
No matter how protectionist trying hard to justify its protectionist policy, it is still a protectionist policy. With the same argument, France should not export its wine, Australia should not export wine its beef, Switzerland should not export its watch, Japan and Germany should not export their cars, USA should not export its soya bean, aeroplane, etc to China and other countries; France, Germany, Uk and Spain should keep all your airbus, the list go on and on
I guess us southeast asian aren't considered global south anymore, even though our trade and cooperation with China have increased dramatically, especially since Israel-Hamas war resumed.
Yes, China is product dumping into your country. That why nations are starting to limit how much China can sell into their markets. They are still allowed sell into their market but it is more regulated.
Not sure what you're getting at. Increased trade (deficit) is a symptom of the problem, and Vietnam, Thailand Indonesia all have complaints about product dumping - which as detailed in the video is only a problem when paired with surging trade deficits.
@@HellBot-gi5si America has a lot of powerful software and cloud companies. They dump their services to the world, making the rest of the world unable to compete with those. India also dumps their business-process automating services to the world, making countries like Vietnam unable to compete in this market.
Overcapacity is a common business term not needing quotes. After spending $100 billion pre-Covid to boost EV production, China is now on course to have enough LFP battery factories to supply 215% of global demand next year. Such government miscalculations leave Chinese producers desperate, and willing to sell at any price to try to stay solvent. This wipes out the entire industry for investment in other countries, as no return can be expected, and invites response by countries interested in having a piece of the pie for themselves.
The over capacity of EV cars in the US is just nonsense. US car manufacturers have over produced on EV's that they can't sell because there is no demand for EV's in America, the reason is because of two major issues. The first is that American EV's are over priced costing more than fossil fuel equivalents and the second is the lack of infrastructure for EV charging. Why would you buy an over priced US made EV if the infrastructure isn't there to support the purchase. They didn't want cheaper EV's that would affectively under cut American car makers who can't sell all the EVs they've produced.
@@controllerplayer1720 prove him wrong China's exports 2021: $636B (all time high) 2022: $837B (all time high) 2023: $823B (30% higher than 2021. ..and an all time high in RMB terms) Colonist white media: no one wants to buy from China
It's not freaking funny When their government subsidizes Some of this cheap shit they're trying to offer , Everybody's looking for an advantage But the chinese Have the chinese way of doing things , A fake and false g d p They spy they cheat they lie , They want to open companies books , But if you attempt to Competitively look at their books They say it's a security issue. The chinese have literally screwed themselves
So you're complaining that a communist country is overly productive? Haven't you previously told us that they just stayed at home and did nothing, wallowing in their perpetual poverty?
That May jump was all people in China panicking and shipping all they had before tarriffs go into place . As fyi Mexico surpassed China as biggest exporter to USA late last year.
China never give real numbers. They never give proof of how they get these numbers. They pull them out their butt. It doesn't match anything that actually happening
@@Baoboi332 Yea and do you know why? Many Chinese factories relocated to Mexico, even their supply chains so they could export directly into America without paying any tariffs. Now American companies are doing near shoring and buying supplies from Mexico from Chinese companies.
Singapore imports a lot thou unlike China. China is wants to sell sell sell but also buy a little as possible from the countries they’re selling to. Not to mention they’re stealing and copying western tech and selling it for cheaper or using it for their own benefit instead of paying for it.
I didn’t think you information is corrected. China’s exports increased to belt and road initiatives countries like Africa. Exports 8% china’s GDP from China to Africa. Just last year I heard exports increased to 17% china’s GDP.
Wow I have just discovered that I have lived all my Life in the Global South , also I learned a New Concept today , also Overcapacity: " I cannot compete because I relocated all my industries to the "UnWestern" and now that they are more competitive than me I don't like it"
Correct! We don’t have a “Trade Secretary”. We have Treasury Secretary which is Janet Yellen, a Commerce Secretary which is Gina Raimondo, a Trade Representative which is Katherine Tai.
The problem is "money". China earns too much, and the US too little. It was the same problem with Germany, but that country is now in tatters due to the was with Russia.
This video title “Why China is falling out with the Global South” is untrue and misleading. If this is true, why is China the largest trade partner with over 100 countries and why the Global South countries are lining up to join BRICS? Some countries might be imposing import tariffs on Chinese goods to protect their local industries and this is no reason to slap the falling out with China label.
I hold protectionism in disdain. I could go for rules ensuring the quality of imports from China as well as more transparency, civil rights of their workers, and environmental protection.
As a Pole I had a talk with an entrepreneur last year. He said making deals in Africa is extremely easy if you're from central Europe. Africans hate western Europe for colonialism, they don't trust USA for being the global police, and they're waking up to China's scheme to control them. But if you're from central Europe, and tell them your history, they relate to being used, and that bulids trust quickly. The only issue is far more limited resources we have compared to USA, China, or even western Europe.
The overcapacity charge levied at China is a farce, where was this when the US and the west dominated a lot of industries and boosted their exports as China is doing today?, when situation changes the west always cry wolf. The global south's reaction is properly in response to the west's position on this, I do see the need to protect their local industries as well but this has to be balanced out with getting the best for the counties between imports and expensive local production.
And their EVs being powered by said dirty coal plants is somehow magically green. Especially as total environmental cost extracting, concentrating, processing the raw materials, then making into thousands of battery cells is more harmful than average ICE cars
"Overcapacity" - a brand new buzzword for desperate American politicians who are jealous of competence and productivity, and hate the very idea of free markets and having a serious competition. How low America has sunk.
Yes but these decisions takes time to implement and their effects will be felt in the years to come. Chinese exports are 'still' growing until the consumers will start to understand that Chinese goods are now more expensive. Also this means that local EV manufacturers (like Turkish TOGG) will become stronger rivals to Chinese companies globally. Let's speak again in 2-3 years.
@@odenat3701China's exports 2021: $636B (all time high) 2022: $837B (all time high) 2023: $823B (30% higher than 2021. ..and an all time high in RMB terms) Western media: no one wants to buy from China
@@TheProfessor-tb6fv South Africa is doing the same with Shein and Temu. China is taking job from our people in South Africa. Our textile industry is GONE and online businesses can't compete even with the help of corruption.
@@dsdgdsfegfeg I agree fully. ANC has thrown our foreign policy the door by cuddling up to their overlords in Russia. Should a global conflict breakout SA will be screwed one way or another.
@@nathanspreitzer6738 just look at cargo shipping you get no need to believe you just need to go to a port and know where it come from or what is the content.
We have Honda and Toyota factories here in Ontario. They create high paying jobs. BYD should be allowed to manufacture their products in the west but there should be protectionist measures for direct imports.
yep, all the major car companies produce their cars in China with local partnerships to avoid tariffs, have done for years, about 30 years in the case of VW.
That's what the EU is doing. BYD is able to produce in Hungary and the EU hasn't closed the borders of Hungary over this, despite Orban acting like a Russian/Chinese collaborator.
Germany was a producing and exporting country, but it lost its role due to the sanctions against Russia and the blow-up of the Nordstream gaspipe. The US has exported its producing capacities from the mid-1960's to cheap labor countries in favor of lower internal prices and higher profits. Low wage countries ceased to exist, and the US has to import at higher prices, while there are no revenues from US-exports. The Petro-Dollar was a source, as well as huge fines and gold robbery and warfare. The money flow comes to an end. In the long run the US cannot afford imports anymore.
China has many strategic competitive advantages. China strategic competitive advantages are as follows: political, social, medical, economic, education, engineering, manufacturing, supply chain, etc., Because China has lesser social, medical, and political issues, it can and continues to learn, grow, and mature as a world leader. China’s philosophy, vision, mission and culture focuses on science, engineering, manufacturing, supply chain, education, skilled workforce, etc., China’s focuses on the people-its leaders focuses on the Asian philosophical strengths and they practice the best characteristics of the socialist, capitalist, democratic, and other government systems.
There was a moment when US had similar overcapacity while its trade partners either started to protect their markets or were too poor to import. It led to the crisis of 1929.
Regular viewers might notice that we did a video with a very similar title a few months ago. We changed the title on that video after commenters rightly pointed out that the video was 95% focused on China's new economic reforms, rather than the Global South's reaction, but we still thought the topic was worth revisiting because, in the past few weeks, 2 things have happened. First, "overcapacity" has become an increasing hot topic in global politics; and second, we've seen a slew of trade barriers erected by various Global South countries, which we detail in the video.
Anyway, we hope the video better reflects the title/thumb this time around, and thank you for watching.
Everyone wants china's export except gender confused countries such as us and nato
Cock and Ball Torture (CBT) is a form of torture involving the cock and/or ballsack, including shaft, testes and pubice. The advent of this technology was brought about in 1835 by the construction industry and in turn, Venetian bronzemongers. Historically, the same Day installation and maintenance and repair easy to use the form below and attached to it as a result. Without this, the same time China will have a good time to get the latest flash player is required for video playback stopped because this video is not available for remote playback stopped because this video is not available for remote playback stopped
4:49 Ok, tbf I'm not familiar w/the global south term, How is Australia part of the global North when its south like the rest of those in the global south? What, Is it a nice way of saying poor?
@DennisTheJuniorMenace It's basically a way of saying developing countries without implying so much of a hierarchy that is implied with terms such as "the developing world" or "third world".
@@DennisTheJuniorMenaceBecause simple pals these are propagandas, they group the collective West into North Group so that it wont be appear in the South group >> proceed not to talk about the North part >> show some countries in the South that reject the goods but failed to mention these nations are not too close to China either way. In a way making the problem looks slightly more relevant to magnify its fake narratives, spread fake anxiety about a problem that virtually no nation or people are noticing let alone care about it 😂
The fact that Australia and New Zealand are part of the “Global North” cracks me up
The term is kind of dated tbf should just be 1st world nations
First world, second world, third world is an outdated system
It’s just some term that means country with white people
So we can now safely say that Australia and New Zealand are in the North-West
@@scarletcrusade77 The term was invented precisely because people didn't like the term 1st world nations anymore.
In South Africa we've just added a 45% import tax on Shein and Temu purchases under R500(~$27) to protect local clothing manufactures and retailers.😂
Smart thinking to protect their economy. Reminder that CN has and continues to do the same too
I'm so excited for South Africa after the recent elections. The ANC is finally starting to be held accountable by voters for its corruption!
Here in Brazil, there's going to aprove a law taxing under R$50
@@MachFiveFalcon The only problem is that the 1st sitting of our parliament is on friday and an agreement has to be made by then. If we don't elect a speaker and a president then election will be held in 90 days. Our parties have ~2 weeks to form a government before our 1st parliament sitting. That isn't a lot of time compared to have much time other EU countries have to negotiate which is usually takes months. 🤞🏻 for an ANC+DA+IFP government.
South Africa also needs to fix its Russia/ANC problem, Russia uses SA as toy
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5:26
Brazil didn't raise taxes for china imports. It raised taxes for imports across the board, period. From every single country, including China obviously.
So that includes China,correct. Thought so.
@@markbantz9699 negligible for china
And is china part of Brazil?
Come on you're so close to figuring it out!
If they are taxing all imports from foreign nations... and china is not a suburb of Brazil... then what does that mean for tariffs on Chinese imports?
@@ConstantChaos1 china best nation.
Brazil as well accepts that.
@@ConstantChaos1 dude u are racist towards Chinese
Sit down
World: What kind of things can you manufacture?
China: Yes.
A daughter?
@@lunkycultist5519if there are enough orders, yes 😂
@Booz2020no one wants to drop dollar or buy china garbage
@@lunkycultist5519 : Savage!
Yeah china is bad a making those !
*assemble
Mexico joining the anti-dumping group is a god send for the US.
Meanwhile China is currently building a BYD manufacturing plant in Mexico.
As long as Mexico and the USMCA protect workers rights then there should be no issues.
Sort of, yea
When the factory is in Mexico, the product is no longer Made-in-China and employs Mexicans workers and under Mexican regulations agreed on by NAFTA. Meaning the factory will subjected to minimum salary wages, medical benefits, taxes...etc. We in the NAFTA alliance (US, Canada and Mexico) are OK with this.
you can't allow china to become too powerful. but the us cannot be the world hegemon any more. balance of power and distribution of power among as many as possible is better than unipolarity or two poles.
For country that has a long history of isolationism, it's ironic that they cater to the international market as opposed to domestic.
Everyone wants china's export except gender confused countries such as us and nato
They do overcapacity cater to their own market, entire cities built in a decade left empty will show you that
They are trying to have Consumption-based economy like the US or UK. But since wages are very low and their purchasing power is really low, it's impossible to transition to that.
They have to kill their export industry overnight and switch to service based economy with large population who can't communicate in basic English and lack of knowledge about the world's market due to the Great Firewall the CCP enacted to its population.
this is actually cyclical, this is a similar problem that the british had with china before the opium wars.
The domestic market is too poor, and the shrinking population makes it unstaintable . Exporting isn't sustainable either since many chinese sectors aren't profitable .
Even South Africa is placing a steep 45% import tax
yeh, it's interesting that some of the countries in the BRICS group which are supposed to be a political and economic counterweight to the G7 dominated by China (at least, in China's mind) are putting up tariffs on steel and other products
Standard import tariffs for clothing doesn’t matter if it’s from China or India or Brazil or Australia all are 45%
And its part of BRICS , those de-dollarization clowns in internet are living in metaverse
@@climate-moneymakingcampaig305 😅 it's hilarious
@@climate-moneymakingcampaig305 Still it would be nice if there was an actual international currency that is based on the whole world economy not controlled by single country that could weaponize it against others.
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“Take a shot for every time the word overcapacity is mentioned”
Economies of scale **hic** 🥴
Wasted!
Yeah, I'm, overcaspity. *falls onto bed*
There is no overcapacity. China can't even fulfil its own national demand. "Overcapacity" is a Western propaganda myth (just like 99% of all other negative things the West ever said about socialist countries). The real reason "nobody wants" China's products (everyone wants China's products except the dictators of Western anti-democratic regimes) is because the collective West's elites require capitalism to persist... but when people wake up to the fact that China's system is better and offers better goods and services at a lower price and faster pace, they will realize that capitalism is bad and demand China's system.
And now my liver is at overcapcity 😵💫
The most ironic thing ive ever seen was the YT ad for this video was Temu 😂😂😂
Temu was nice
Yea I saw that omg.
Hehe, Beijing complaining about protectionism, that's funny.
What is funny ??? When the US, Europe and Japan were flooding China with their cars, we never hear about over capacity. So , when these countries produce in excess of what they produce it's not overcapacity !!!
yeah very funny ..... tesla ford gm and apple could sell their products in China freely
What's funny? China isn't a protectionist country.
It is ironic isn't it?
@Booz2020no, for what? We don't sell land and houses in Bali. We only invite tourists..
Here in Australia we love the influx of Chinese EVs that are forcing other manufacturers to you know… compete. Prices are falling fast and people are realising just how massive the margins on EVs have been given the $15k price cuts on some models.
We don’t have a domestic car manufacturer so it’s no skin off our backs
Now you know how much margin that BMW, Toyota even Ford get. But every time china drop the price even Toyota can follow.
Beware, as you can't get spare parts for these EVs. When it comes to sell them the trade in value won't meet your expectations. Car dealers can't resell them. They dont want the worry of warranty for a battery costing 50% of the car.
Add to that battery technology is advancing and lithium batteries are old hat.😢😢😢
West, USA and Europe should stop all Chinese trade - in the long run you pay with your lives for supporting China with trade. Everything you will earn with China you will lose when China supports Putin's invasion of Europe and USA. Europe is already threatened and is forced to quadruple it's military budget, the same with USA. China's support of Iran and Russia have destroyed global peace and security and will cost us tens of trillions of dollars of additional military expenditures and perhaps a few hundred million lives lost in a future war. The whole concept of global trade with totalitarian hellholes is inherently flawed because all the benefits are temporary and the risks are truly existential. West should totally isolate from Russia and China and live well without Chinese products and Chinese spies in our cities
@@geoffreystone4849 And Chinese EVs aren't the best already lol
@@Johntor8888 Tip: "Labour costs".
Funny to see Ursula von der Leyen talking about this, when in fact Germany did this to the EU for almost two decades now, destroying the economies of many souther european countries. Also keeping labor costs as low as possible to keep outcompeting other EU states. So no one in Germany benefitted from it except large multinational corporations.
Okay 50 cent army 🥴
From July 1st, South Africa will tax all products from shein and temu at the same rates as local operators
Its more of a loss for the consumer. Rich people arent really buying from shein its mostly the middle class that are and now have to pay more if they want.
The talking point is "to protect local business" but its to actually maintain the wealth and power of the local aristocrats that control the government. They dont want to cut their profit to compete.
@@spaceman69those sites basically export actual waste. Won't be missed. Better for the environment to ban that junk.
..those S African companies are Chinese companies! Africa would rather be slaves to US and EU?
@@spaceman69
Shein and Temu are relatively recent, the middle class were doing fine without their goods, why is it a problem now if they're being made to pay normal prices instead of undercutting their local workers? Say they start buying the cheap crap, then their local economy suffers as they can't compete with the cheap subsidised crap from abroad.
Now what?
@@spaceman69 no one misses things that look good only on the ad
In Thailand i see no sign of avoidance or rejection of Chinese goods or tourists.
There's been some talk of tiny penalties, but yeah it's hardly enough to stave off the incoming flood of cheap goods.
Not surprising though. Thailand's elite are known for being Chinese bootlickers.
Because they are getting paid lol
Bullshit, i hear people shitting about tourists everyday. Chinese products are cheaper,which for us is good enough. I hear about it all the time,everytime something turns out to be made in china theres a sigh but they don't wanna spend anymore so they just go with it
You know they’re playing the neutral cards right? They also have Japanese goods and American goods flowing into the country too. All they want to see is getting cashflows from those countries.
Thailand has no industries, that you see, that needs to be protected. But they are very strict to protect Thai jobs. No foreigners allowed to work. (well, not jobs that Thais can work at least).
Chinese imports are low because of domestic subsidies and protectionism. Domestic Chinese goods are almost always cheaper than imported goods. Raising demand would mostly lead to more consumption of cheaper Chinese goods. Structural economic problems are not fixed by just increasing government spending
All makes sense. The reason why we, British people, should be happy with cost of goods going up over 200%-2000% over the last few years is because China is able and willing to provide cheap and affordable goods for us. And this is bad because our top 5%ers are losing money.
and how will you afford those chinese goods when you no longer have a job?
@@thegreatdane3627 losing your job because of outsourcing wasn't a problem at all for western policians ("it's just the free market. people will have to adapt"), when european big businesses were still pocketting the profits in the 80s, 90s and 00s. now that chinese companies are not just supplying cheap parts but exporting on their own and getting the profits it suddenly becomes a huge problem.
this just shows how our politicians don't give a fuck about our people and are only interested in the profits of the super-rich.
@@thegreatdane3627 well for a start our industry was sold off to America and other foriegn powers long before China became what it is. Second, India is a bigger foriegn power affecting British industry. Third, our industry will never recover as we have sold ourselves to the needs of America so unless they say we can start rebuilding our own industry, it'll never happen. Finally, we don't have many people that want to do the hard graft work or work for cheap, so buying British (or buying American) basically means paying alot more for what you want.
Finally someone can say this. If it wasn't for Chinese keep pumping cheap goods into international market, the western big bust would happen already due to the overcapacity of printing money. No quote needed, as it is definitely an overcapacity. My personal speculation is that back in 2018-2019, firms like Temu or Shein would not allowed to enter UK or US before the Covid overprinting.
100% agree with you. I was just being sarcastic about the political stance that every media outlet follows. "Quick run, the commies are coming!!" 😂😂😂
Even the most staunch capitalists and free marketeers call for restrictions and tariffs when it hurts their own pockets
The problem is that China is unfairly subsidising their products.
@Volga_149.20_kHz Its hard to compete with a country that does not employ the same ecological and human rights procedures.
Western companies have to compensate their workers fairly and dispose of their waste properly, Chinese companies do not. This makes western companies uncompetitive against Chinese companies that dont have such limitations and sometimes even get subsidies from Beijing to keep their prices low...
Hurting their pockets better than shutting down their local businesses and rely big on importations that has long term negative effect or disadvantage in the future isnt it?
@@I_am_somebody_1234 "Its hard to compete with a country that does not employ the same ecological and human rights procedures."
You were not having this perspective when you were making bank on those very same things at the beginning.
You called the people who complained about this discrepancy in regulations; giving these companies a competitive advantage at the cost of fundamental rights racists, to shut down critic and keep your profits.
Wonder what changed ...
Could it be it's affecting you now ? Oh dear.
@@I_am_somebody_1234 Western countries don't do that either, but they're at least closer to it than China. A race to the bottom for standards would not be good for people.
This is laughable. The US and the West, which don't produce much and rely on printing currency in exchange for real goods produced in the global South, complain that China produces too much, inventing the oxymoron term "overcapacity." In reality, they should be talking about the global North's parasitic undercapacity while enjoying lavish unearned wealth through reserve currency, the Petrodollar, financial neo-colonialism, and uneven exchange. How about developing their own production capacity and internalizing depletion of natural resources, pollution, and real cost of labor instead? The FREE TRADE was working fine for the West as long as its multinational corporations could come and destroy local economies and until China became a competitor. Now, they are installing 100% tariffs, precluding access to the resources, and waging economic war - because the West can't compete at anything but the parasitic financial Wall Street and Real Estate. Stop spending a trillion dollar per year on military and spying, stop invading, bombing, sanctioning, killing, starting, stop feeding the oligarchy, start funding domestic social programs, start producing. Pittiful mouthpiece of the oligarchy.
Wish I could give this more likes. I think most Europeans are under the impression the global South like their governments when the reality is so much different. The global South would rather deal with China than the US.
@@Vhlathanosh Wtf, no... no thanks
In Brazil we really want chinese products, but our government absolutely loves taxation, because they spend like hell. But the implementation of taxes was Very impopular.
People want services but don't want to pay taxes. How else will you pay for health care, education and infrastructure for over 200 million people
@@millevenon5853 the Brazilian government already have the highest taxes in ALL of latia America, and with the new reforms, It will be even higher. The problem is that the actual left wing government is a big spender in useless things, and also increased the público workers wage to become more popular, and also try to "protect" our industry, even If this industry refuse to modernize itself.
This video does not include the (up to) 38% price increasing tariffs on chinese electric cars approved recently by the eu
They already increase the domestic market price for the export market.
"overcapacity" = economic efficiency = a sin if others do it
Intentionally underpaying employees is not 'efficiency'.
@@jeremymanson1781 it is. not the one we would like to relive on us, but it truly is
@@jurgbalt Well no point arguing over definitions of words. I prefer my definition and you prefer yours.
@@jeremymanson1781that's USA
@@jeremymanson1781that's USA
As a South African I say sa manufacturers must lower their prices and start competing. We buy China coz it's cheap and value for money.
Local manufacturers should make cheaper stuff, these policies always seem to favour big business, never the consumers. I don't understand how citizens can cheer paying more.
China isn't the problem in SA, high prices in SA are. Solutions should not be to kill the customers to pay more, the solution should be to make local manufacturers make more affordable staff, this will increase demand
If the Chinese government massively subsidizes their industries and sells the subsidized goods to SA, how can the SA industries compete?
@@captaindoomsdayreloaded6685 they should try to make things affordable, things are quiet expensive in SA
@captaindoomsdayreloaded6685 It's simply not possible financially, think about it with your bean-sized brain
I swear China's exports just hit a high recently
And you know what hapoens after a peak.
this is a propaganda channel
That's because these type of pages have am Agenda to push. A country for example raising tax on Chinese imports on certain goods to protect domestic production is suddenly seen as "China falling out" with said country which is simply not true. China still maintains great relations with the most of the Global South.
If you actually trust their infamous statistics 😆
yes this channel would have you believe China's economy collapsed fifty times in the last year
Claiming that Chinese workers are not paid enough as to consume more import goods is a fallacy. That could have been true 20 or 30 years ago, but the purchasing power of Chinese consumers has increased significantly over the last few years. A proof of that is the fact that China is the biggest market for hi-end brands like Apple, accounting for their 30% total revenues (let's agree that Apple products are not precisely cheap, but curiously Chinese consumers can afford them), it is becoming an increasing and interesting market for luxury goods, including super luxury sport cars, luxury apparel, and other goods, and it is the main market every foreign producer wants to sell to. The so claimed "overcapacity" of China is due to the fact that it is a 1.4 billion people country that has well invested in educating its population and has taken them out of extreme poverty through an unparalleled industrialization process, largely supported by Western companies that moved their production facilities there due to the investor-friendly environment the Chinese government created to attract foreign investment and the low-cost labor force (at that time, not now). Today, China has not only became a producer of practically all kinds of manufactured goods you can imagine, but it is also extremely efficient in its supply chains and logistic processes, and that's why it has maintained its leading position as to top 1 manufacturer in the world. In simple words, they have the capacity to produce more than the world can demand due to their efficiencies, and they buy less from foreign countries basically because the other countries altogether have no enough capacity to produce what China demands, due to their inefficiencies. China alone produced 30 million cars in 2023, more than what the US, Japan, India, and South Korea -- the next 4 main world car producers in 2023 -- produced altogether that same year. The US, the second largest car producer in the world, only produced 10 million cars, one third of what China is capable of producing. And that production not only include Chinese brands, but also European, Japanese, Korean, and even American brands that produce some of their models in China. Why? Because China is more efficient and can achieve lower production times with lower costs without comprising their manufacturing standards.
China social structure totally of opposite of what u praise from one child policy to no child policy. China economic boom was due to one child policy and now the same policy will doom China economy. A person with no family responsibility like upbringing of child can have good saving now good purchasing.
China’s population is estimated to decrease as all populations in developed countries eventually do.
@@hkiran3742source
The reason is simple. Pure jealousy and hubris of the west. China just can’t be right in the eyes of those globalists.
Fake news. China is still exporting, while exports to Europe and America fell, trades with Africa and Asia actually increased.
Trade with Brazil grew 16.6% in 2024, sometimes headlines are only made by Western news channels to set a narrative, which is not exactly true
This channel is becoming more and more bias tbh , they’ve made several China videos and only focus on the negatives
He never said trade with Africa and Asia decreased. Did you watch the video?
Yes fake and stupid news
Tell me you didn’t watch the video without telling me you didn’t watch the video
It is unfair to blame China for its ability to produce a wide range of competitive products for the global market.
Free trade only as long as USA is the one trading
Do we really have an overcapacity problem when it comes to renewable energy, batteries and EV's? Surely we need to be accelerating the green transition.
EVs are not green
There's a good reason why people do not want their domestic markets flooded with cheap Chinese cars. Especially Europe and America.
EU say how Chines EV are 2 cheap while EU selling basic EV cars for 50 000 euros ,CHines cars are not cheap is that EU cars are insanely expensive .ANd whats with that VW ID3 cost 3 times less in CHina then in EU
@@highbread817what about expensive Chinese cars? Or it’s just a Sinophobia problem
@@animusadvertere3371 maybe not but they are greener than driving an ICE car. Obviously not as green as walking or cycling but that's not a fair comparison.
The sad part about Brazil is that a large amount of our domestic industry has already went bankrupt so those high taxes will only protect retail corporations. Also, domestic goods are so heavily taxed that even without Chinese cheap goods most new companies can't have a profit.
Yeah besides i think they forgot to mention this isnt new by Brazil, like we tax everything no matter of its china or the west so that isnt “brazil falling out form the global south”
It’s sad, that the govt and the big corporations have shenanigans and corruption infiltrated the country. Taxing everything, and the ultimate winner is the govt and big monopoly, rather than the citizens.
Brazil could encourage Chinese investments and manufacture products there for the South American market.
Tariffs are a tool. A dangerous tool. It is a short term band aid, but left on too long can hurt yourself. A good example is the US steel tariffs. It failed to save the US steel industry, and contributed to the devastation of it's shipbuilding industry, and is now hurting it's automotive industry.
Managing the economy of an entire country so big is a very complicated and difficult task. And easy to screw up. Why are Chinese EVs today so cheap compared to American ones? Why does the US find it impossible to match China on price? It is easy to make accusations of dumping. But China isn't losing money on every car they export. It would be stupid for them to do so. But more importantly, I don't see a problem with us taking those cars. We will subsidize our manufacturers a little, keeping them alive, but with most of the manufacturing capacity mothballed, and we take those Chinese EVs in the meantime. If they stop the subsidy and raise prices, then we restart our local industry.
If the US want to subsidize cotton and corn farmers and produce an oversupply, so much it cannot consume it all domestically, and have to export, other countries will take them gladly, and tell their own farmers to grow something else.
@@Zergcerebrates it is something they have been doing, i think tldr forgot to mention it but even though the tariffs increased we also finished a bunch of economic deals with china to brind manufacturing here
Overcapacity sounds better than dumping
No one would buy Chinese goods if other country can make it themselves and cheaper? Supply and demand, free trade please.
@@VodkaPandas China has effectively weaponized free trade by systematically enslaving its labor force and trashing its environment, with the end goal of monopolizing all manufacturing industries. This recalls the excesses of unchecked capitalism in the early 1900s, before child labor and consumer protection laws were enacted.
@@VodkaPandasfree AND FAIR trade. We complain to china the same way we complain to japan before it and US before it. Stoo your victim mentality. This is chinese fault.
@@absentmindedshirokuma8539 No one complain about the US before, because if they do, they gonna coup the governement to sign a free trade deals, the west is angry because they can't get China to sign a plaza accord the same way they do to Japan and Germany in the 80s.
@@absentmindedshirokuma8539
China is selling at fair prices, the reason a few rich countries are complaining about China's prices are too low because they are rich countries! Most countries in the world are still poor, they find China's prices are still too high! China welcomes those rich countries to pay more if they want, China will gladly accept their money.
When will countries put taxes on USA overcapacity on entertainment, weapons and big tech?
Not as long as there are wars here and there and US are making sure it does so that military industrial complex, US's biggest exporter continues to do so 😁
When will other countries produce such things that are worth buying over American products.
I don't really consume any of them. Apart from Apple iPhone which ironically i'm keeping because the Chinese MG car i bought only supports Carplay
So weird to hear turkey called the global South since Istanbul is just as far north as New York.
But Australia and New Zealand are part of the Global North - and we are Western Democracies, too.
Go figure.
There is no such thing as Global South, just an idiotic way to find a name for an anti-democratic bloc.
the term “global south” isn’t really geographical… just like “the west” includes the UK which isn’t west it’s centre (as is france … and germany’s kinda east but part of “the west”)
politics. not geography runs this world …
Can anyone explain why Mexico is in the global south while Australia is in the global north?
Cause its not about geografi
@@nenasiek So it´s about race perhaps.
It is about income and institutions
@@Greentrees60 Then why are Russia and eastern european countries in the global North? All poorer than México and with meager institutions.
@@Greentrees60 So why are Russia and eastern european countries in the global North? All poorer and with meager institutions. Even compared to México.
Probably worth discussing the differences in labor laws and regulations between China and the countries that have tariffs. It's pretty easy to undercut manufacturing in higher regulated countries in this frame of reference.
Look at how China refuses to open there economy they have major restrictions on imports and cry when others respond in kind.
@@flubalubaful If me buying a chinese product makes my country face unemployment then so be it
Keep your politics out of my wallet
Free market . I can buy chinese products.
If my economy is so screwed up that me buying chinese products create issues then tell your ceos to loose their belts
I ll buy more chinese products. To hell with your politics
Ya politics are freaking out about the decline of their domestic manufacturing industry. An industry that doesn't get any government stimulus and that they intentionally ran into the ground in favor of corporate greed in the 1980s.😂
The real reason "nobody wants" China's products (everyone wants China's products except the dictators of Western anti-democratic regimes) is because the collective West's elites require capitalism to persist... but when people wake up to the fact that China's system is better and offers better goods and services at a lower price and faster pace, they will realize that capitalism is bad and demand China's system.
Brazil is similar, deindustrialization ongoing but they now put a tax on products from China, products which aren't even produced here. Effectively, the lobby wasn't from the industrial sector, but from the commercial sector. They want to buy cheap from China and sell expensive to us. Middle man parasites
U.S. manufacturing doesn’t need more government money, we already subsidize it up the ass
Manufacturing has been expanding in USA for about 10 years now. One of biggest manufacturing expansions we have ever seen.
@@Baoboi332Only due to the strength of the dollar. If you actually compare what the US manufactures with China, it's not even in the same league.
maybe the west should produce their own stuff.
and pay their own prices
and quit whining about the competition
The perception I have is that the global market is like a big poker table, where China plays so well that all the other players have to team up against it, otherwise it will take all the chips from the table.
Indeed, only the losers cry about overcapacity and slapping on tariffs.
@@Zergcerebrates When the government is subsidizing industries, not really.
If every country subsidized everything to maximize capacity, then they’d all price war themselves to the ground.
And it’s not like China is above protectionist trade wars either.
Ask Lithuania or Australia.
It's not about being good at the game, it's about cheating. Using slavery
@@SelfProclaimedEmperorCope.
@@innosam123 Lithuania and Australia are not economic problems because they have touched the political red line of the Chinese government.
CHINA export in May 2024 rose 7.6 percent beat expectations of 6 percent growth. This tell everything .
Have you missed the part where they have been caught manipulating those numbers on literally every report?
They were estimated by like every outside report to be under representing their export share by reducing it to as little as half the actual number, all that means is that after getting told off they decided to say it was higher, that is literally the only thing that tells us. Also these are NEW tariffs so they wouldnt be in that report there genius
@@ConstantChaos1 what the point ?. Those numbers were from Reuters poll , the western mainstream media , if you didnt believe it just ask Reuters.
@@budisuwandhi6818 this data cant even he accrued via poll lmfao what?
@@ConstantChaos1 That why you call chaos , learn to stright yourself , you no brainer.
@@budisuwandhi6818 is that supposed to be a coherent thought?
Also my name is constant chaos because I'm a first responder as it says in my bio lmfao, any more deranged personal attacks in lieu of substantive and coherent arguments? please get psychiatric help.
Although I agree it's best if we produce locally, export our strengths and import to make up for what we don't have, it just seems like a pipe dream. One general thing I see is that overall, developing countries are in effect willing to work harder to manufacture, while developed western countries just want to sit in an office. There could be many reasons, but one reason is that developing countries, in practice, have far less worker protections in place compared to developed countries leading to cheap labor. This is "good" for developed countries because at least it's not happening in their country.
Developed countries might have laws in place to prevent importing goods that they believe are produced with unfair labor, but this feels largely virtuous as the market seems to find a way around it anyway.
It's like we have stop buying the next iphone, or produce it locally so we can't afford it anyway.
Developed countries just want to sit in an office is a dumb statement, Developed countries boast agricultural capacity we the developing nations could only dream of , construction is dominated by the developed countries, RAW scientific research is dominated by developed countries, just look at the AI boom, developing countries are going to gain nothing, we'll just be spectators.
Free trade. Who is always push Free trade?? Now no more after no competitive???
So the word "healthy competition" is forgotten all of a sudden.
Yeah especially when the competition uses slave labor, has poor labor laws and is a communist dictatorship.
Inside China? There is hardly none. China puts a 3,000% import tariff on a simple Harley-Davidson the second it lands in China.
The problem is that when China unfairly subsidize its industries, then the compatition is not healthy any more.
@@samuela-aegisdottir Define unfair subsidization? All countries subsidize their own. Or maybe it's western protectionism at play. Everything was fine
when everyone dumped their production facilities in China and got cheap parts for expensive products racking up profits. Well, now we can get same quality products cheaply. The tariffs are there not to stop export, but to fill up state coffers at the expense of the consumer.
Where is my literate, polite, benign comment? (I do NOT like or subscribe to any channel on which my comments disappear and free speech is not honored and respected.)
THIS ARGUMENT IS SILLY, IF YOU TAX CHINESE EXPORTS BUT DO NOT TAX THE SAME PROFUCT EXPORTED BY OTHER COUNTRIES, YOU WILL NOT BE SAVING ANY LOCAL INDUSTRY, IS IT NOT?
As a Mexican I see the exact opposite happening here. My city is filling up with chinese car dealerships, industries , chinese people buying real estate etc. And I live in Puebla. I can't imagine how bigger cities like Mexico city, Monterrey etc. are perceiving this. But it really doesnt bother me. On the contrary we welcome chinese investment.
This is just anti-Chinese disinformation, just like 99% of all other content saying negative things about China.
This channel is a joke. China's co-operation with LATAM countries will only grow in the coming years and Mexico in particular will be the base in which Chinese cars will be manufactured and sent to the N American market.
I hope they don’t take advantage of Mexico and the Mexican people
@@NelmacCity So far I have not seen them taking any advantage. We gotta watch out for US buisnesses more. Those are the advantageous ones.
@@PAPO9609 The Chinese have been responsible for some massive speculation bubbles in their homeland and major cities around the world. Especially in real estate. Whatever happens in Mexico I hope God guides them to the right path.
One month ago Russia imposed $10K "Utilization fee" for imported EVs (de-facto all EVs are imported from China). The "Utilization fee" will reach $20K in 2030 (at current exchange rate)
There's absolutely 0% of love involved in the Russian-Chinese alliance. Especially the Russian side likes to say the Chinese in their face how much they hate them like today with that imperialist Mardan saying Russia should subjugate China.
Not just that, I get the impression those typical Russian propagandists are actively pushing Europe for protecting their car industry. Really silly to see how one moment those propagandists are saying they're waging war with NATO while a few hours later they say things that are good for Europe's car industry. Not just that, I see Russian propaganda saying they rather have 5 year old European 2nd hand cars imported via Dubai over new Chinese cars or locally built Moskvichs which are Chinese cars built in Russia.
That's literally false 😂 why bots are lying
But if you look at the history, UK had overcapacity as well and it used its weapons to force the other countries to accept their products.😅
Yes, so I fear that there will be wars in the future.
The problem is not comparable one-to-one. UK had overcapacity but was getting outperformed at quality and innovation by Germany, hence WW1 and later WW2. China is not good at war and they know this. They'd prefer to wear you out economically, as they can outproduce most countries at a competitive level. The issue is if the US sees so squeezed that it needs to protect a market and exclude China from it - which may lead to a confrontation.
BTW: The term "Made in Germany" was mandated by the UK government back in the day on German imports, so the British consumer could distinguish between the inferior German products and the domestic ones. Guess if a British consumer has to choose today between a "Made in Germany" car or one "Made in England" (if there are still any).
Santa Clause has overcapacity yet no one complains there😂
This channel is basically: "why western empire good and epic and why everywhere else is bad"
You are basically: "why eastern empire good and epic and why everywhere else is bad"
are you a joke, right? you're not seriously arguing that China, a totalitarian country where there's no democracy, human rights, rule of law and who LITERALLY wants to invade Taiwan and genocides Uyghur Turks is better than the West?
Exactly, LOL.
@@waltercommunitycollege1615 I didn't say anything about east
@@waltercommunitycollege1615 east doesn't have empire my dear colonist
NZ and Australia are enjoying one of the cheapest (perhaps cheapest) EVs in the world due to non-discriminatory import duty...doing it bits for the world climate.
Not Oz
Bro no one in NZ can afford second hand cars nevermind EVs 😂😂
US gave up their manufacturing capacity, China is now a manufacturing superpower, so now we are crying. Blame US greed for this problem.
And China aren't greedy either?
“If Chinese workers are paid more… “ . This is ridiculous . It’s not about how much Chinese workers are paid but how much they want to spend on consumption. Chinese love working hard and … saving ! And the government doesn’t want to artificially stimulate that consumption . Very simple
Repeating overcapacity every 10 second doesn’t make it a real economics concept, because it is not :)
Chinese solar panels have a Bad reputation. They normally aren't up to spec. (output) And they deteriorate very quickly. Panels that are supposed to last 15-30 years generally need to be replaced after 5+ years due to materials breaking down
No matter how protectionist trying hard to justify its protectionist policy, it is still a protectionist policy. With the same argument, France should not export its wine, Australia should not export wine its beef, Switzerland should not export its watch, Japan and Germany should not export their cars, USA should not export its soya bean, aeroplane, etc to China and other countries; France, Germany, Uk and Spain should keep all your airbus, the list go on and on
I guess us southeast asian aren't considered global south anymore, even though our trade and cooperation with China have increased dramatically, especially since Israel-Hamas war resumed.
Yes, China is product dumping into your country. That why nations are starting to limit how much China can sell into their markets. They are still allowed sell into their market but it is more regulated.
Obviously, you guys in the South East Asian region are now categorized as "Global South East Asia"
Not sure what you're getting at.
Increased trade (deficit) is a symptom of the problem, and Vietnam, Thailand Indonesia all have complaints about product dumping - which as detailed in the video is only a problem when paired with surging trade deficits.
CN protected and still heavily protects their market, everyone else can also do the same.
@@HellBot-gi5si America has a lot of powerful software and cloud companies. They dump their services to the world, making the rest of the world unable to compete with those. India also dumps their business-process automating services to the world, making countries like Vietnam unable to compete in this market.
The only over capacity is the over-printing of USD 😂😅😂😅😂
Is that why the Rnb has lost 16% vs $ and Eur last quarter? Wumao...😅
@@FRIPPE_THE_GREAT
So that the European have a choice to buy more value goods. 👍
Countries decreased yuan from their reserve currency, while CN printed so much money, look at their M2 growth over time
@@chinesesparrows
Sure, Sure 👍
@wionporky9937 so much dollars printed but yuan exchange rate decreased even further, you get more yuan per dollar despite all the printing!
To be fair, america relations with the global south isn't much better
How do you figure that?
It's doing way worse especially over Gaza
Indeed, EU new world leader
Its terrible
Overcapacity is a common business term not needing quotes. After spending $100 billion pre-Covid to boost EV production, China is now on course to have enough LFP battery factories to supply 215% of global demand next year. Such government miscalculations leave Chinese producers desperate, and willing to sell at any price to try to stay solvent. This wipes out the entire industry for investment in other countries, as no return can be expected, and invites response by countries interested in having a piece of the pie for themselves.
Wait a second, aren't China's exports up 7%?
China’s exports are up only 7% but western countries’ cope 100% harder.
as you can trust Chinese numbers.
@@argumentumadhominem3977 ah the old “sneaky Asians” trope! So unique and creative, definitely not pathetic and craven. 👀
@@Uhusofree CCP CHILL
@@argumentumadhominem3977 cope harder 👀
That sweet moment when tldr say "it is important to not overstate this"
Absolute bs
The over capacity of EV cars in the US is just nonsense. US car manufacturers have over produced on EV's that they can't sell because there is no demand for EV's in America, the reason is because of two major issues. The first is that American EV's are over priced costing more than fossil fuel equivalents and the second is the lack of infrastructure for EV charging. Why would you buy an over priced US made EV if the infrastructure isn't there to support the purchase. They didn't want cheaper EV's that would affectively under cut American car makers who can't sell all the EVs they've produced.
China made EVs are far better in technology than any American or European car manufacturers.
They are offering good quality at competent prices.
I mean China got additional boost from stealing trade secrets
propaganda
ok little pink..
@@controllerplayer1720 𓂸
@@controllerplayer1720 prove him wrong
China's exports
2021: $636B (all time high)
2022: $837B (all time high)
2023: $823B (30% higher than 2021. ..and an all
time high in RMB terms)
Colonist white media: no one wants to buy from China
Why "no one" wants the goods and services of the world's largest export surplus economy! 😂😅
They do . Govts don't. Jealousy
It's not freaking funny When their government subsidizes Some of this cheap shit they're trying to offer , Everybody's looking for an advantage But the chinese Have the chinese way of doing things , A fake and false g d p They spy they cheat they lie , They want to open companies books , But if you attempt to Competitively look at their books They say it's a security issue. The chinese have literally screwed themselves
So you're complaining that a communist country is overly productive? Haven't you previously told us that they just stayed at home and did nothing, wallowing in their perpetual poverty?
In the 70s when the US was dominating global trade it was called globalisation and was celebrated. When china dominate it's called overcapacity 😂😂😂😂😂❤
We get it you got an agenda..
So do you.
@@jerryrichardson2799 sure my agenda is not to be intentionally lied by the media
@@jerryrichardson2799 prove it. Btw china is best nation
Arkansas ❤️🇨🇳
China exports grow 7.6% in May, beating expectations despite trade tensions
That May jump was all people in China panicking and shipping all they had before tarriffs go into place . As fyi Mexico surpassed China as biggest exporter to USA late last year.
Trusting official nrs when it come to some countries is just dumb
China never give real numbers. They never give proof of how they get these numbers. They pull them out their butt. It doesn't match anything that actually happening
@@nenasiek
You're right but it's harder for China to fudge export numbers when other countries are involved.
@@Baoboi332 Yea and do you know why? Many Chinese factories relocated to Mexico, even their supply chains so they could export directly into America without paying any tariffs. Now American companies are doing near shoring and buying supplies from Mexico from Chinese companies.
Then why is Singapore's consumption lower than china as a share of GDP? Singapore also don't pay their workers enough?
Tiny countries in general skew data. Ireland on paper has a massive gdp but it's just a tax haven
The law of big numbers... natural law works here...
Easier to manage singapore than 1 billion people
Lmao comparing a city-state to the secondmost populous country 😂
Singapore's export and import numbers are very close
Singapore imports a lot thou unlike China. China is wants to sell sell sell but also buy a little as possible from the countries they’re selling to. Not to mention they’re stealing and copying western tech and selling it for cheaper or using it for their own benefit instead of paying for it.
I didn’t think you information is corrected. China’s exports increased to belt and road initiatives countries like Africa. Exports 8% china’s GDP from China to Africa. Just last year I heard exports increased to 17% china’s GDP.
Wow I have just discovered that I have lived all my Life in the Global South , also I learned a New Concept today , also Overcapacity: " I cannot compete because I relocated all my industries to the "UnWestern" and now that they are more competitive than me I don't like it"
You completely missed the point of the video
0:14 - 0:16 - isn't Janet Yellen Treasury not Trade Secretary
Correct! We don’t have a “Trade Secretary”. We have Treasury Secretary which is Janet Yellen, a Commerce Secretary which is Gina Raimondo, a Trade Representative which is Katherine Tai.
The problem is "money". China earns too much, and the US too little. It was the same problem with Germany, but that country is now in tatters due to the was with Russia.
This video title “Why China is falling out with the Global South” is untrue and misleading. If this is true, why is China the largest trade partner with over 100 countries and why the Global South countries are lining up to join BRICS? Some countries might be imposing import tariffs on Chinese goods to protect their local industries and this is no reason to slap the falling out with China label.
I hold protectionism in disdain.
I could go for rules ensuring the quality of imports from China as well as more transparency, civil rights of their workers, and environmental protection.
I didn’t think you information is corrected. China’s exports increased to belt and road initiatives countries like Africa.
After the video Temu's song rolls up 😂
Turkey just added an EV Chinese tax
Those are not massive 100% tariffs
Not true for Brazil. China is our greatest trade partner and growing. USA is the second, used to be first some time ago.
Leaders of the global south are lining up to visit China.
Do they visit to complain?🤣🤣🤣
As a Pole I had a talk with an entrepreneur last year. He said making deals in Africa is extremely easy if you're from central Europe. Africans hate western Europe for colonialism, they don't trust USA for being the global police, and they're waking up to China's scheme to control them. But if you're from central Europe, and tell them your history, they relate to being used, and that bulids trust quickly. The only issue is far more limited resources we have compared to USA, China, or even western Europe.
The overcapacity charge levied at China is a farce, where was this when the US and the west dominated a lot of industries and boosted their exports as China is doing today?, when situation changes the west always cry wolf. The global south's reaction is properly in response to the west's position on this, I do see the need to protect their local industries as well but this has to be balanced out with getting the best for the counties between imports and expensive local production.
China saying it "will slow down the green transition"
While opening more coal power plants
And their EVs being powered by said dirty coal plants is somehow magically green. Especially as total environmental cost extracting, concentrating, processing the raw materials, then making into thousands of battery cells is more harmful than average ICE cars
The whole fads about green energy is over. Time to take away that green energy coolaid off the tables!(except nuclear energy.)
The second I saw the video I knew they figured China's exports are limiting their own growth
Over the past 5 years the exports of China to Brazil have increased at an annualized rate of 116%, from $646M in 2017 to $30.1B in 2022
Protectionism is done all the time by big economies (including western) to smaller countries, it simply doesn't hit the news too often.
"Overcapacity" - a brand new buzzword for desperate American politicians who are jealous of competence and productivity, and hate the very idea of free markets and having a serious competition. How low America has sunk.
You think your cheap jabs will have an impact? Do you really think that this could reverse the policy?
Wait, other countries are actually buying Chinese electric-vehicles??
Those things are an explosion risk, they are always catching on fire.
Byd blade battery google it!
Greece, Bulgaria, Belarus, Albania is Global North but Turkey is global south? Bruh...
In numbers: chinese exports are on a high level and still growing. But that would be just facts in the way of entertainment
Yes but these decisions takes time to implement and their effects will be felt in the years to come. Chinese exports are 'still' growing until the consumers will start to understand that Chinese goods are now more expensive. Also this means that local EV manufacturers (like Turkish TOGG) will become stronger rivals to Chinese companies globally. Let's speak again in 2-3 years.
@@odenat3701China's exports
2021: $636B (all time high)
2022: $837B (all time high)
2023: $823B (30% higher than 2021. ..and an all
time high in RMB terms)
Western media: no one wants to buy from China
Funny, I read that their export raised by around 7% in May thanks to the Global South !
Someone didn’t watch the video
Don't forget South Africa
What about south Africa mara nawe 😓
@@TheProfessor-tb6fv South Africa is doing the same with Shein and Temu. China is taking job from our people in South Africa. Our textile industry is GONE and online businesses can't compete even with the help of corruption.
SA need to fix ur 🇷🇺Russia problem. They keep using you as toys, ANC needs to go
@@dsdgdsfegfeg I agree fully. ANC has thrown our foreign policy the door by cuddling up to their overlords in Russia.
Should a global conflict breakout SA will be screwed one way or another.
who care about south africa lol, go back to your farm
Fell out?!! 6% of export increase this year!
No one believes china stats. if you use taiwan and us stats it doesnt match chinas
This is just anti-Chinese disinformation, just like 99% of all other content saying negative things about China.
If believe the CCP sure lol
@@nathanspreitzer6738 In that case, should we distrust ASEAN countries statistics? Because they were responsible for China's exports surplus.
@@nathanspreitzer6738 just look at cargo shipping you get no need to believe you just need to go to a port and know where it come from or what is the content.
We have Honda and Toyota factories here in Ontario. They create high paying jobs. BYD should be allowed to manufacture their products in the west but there should be protectionist measures for direct imports.
yep, all the major car companies produce their cars in China with local partnerships to avoid tariffs, have done for years, about 30 years in the case of VW.
@@Hali88 and that's how they pinch the technology.
That's what the EU is doing. BYD is able to produce in Hungary and the EU hasn't closed the borders of Hungary over this, despite Orban acting like a Russian/Chinese collaborator.
Germany was a producing and exporting country, but it lost its role due to the sanctions against Russia and the blow-up of the Nordstream gaspipe.
The US has exported its producing capacities from the mid-1960's to cheap labor countries in favor of lower internal prices and higher profits.
Low wage countries ceased to exist, and the US has to import at higher prices, while there are no revenues from US-exports.
The Petro-Dollar was a source, as well as huge fines and gold robbery and warfare. The money flow comes to an end. In the long run the US cannot afford imports anymore.
“Be greedy when the others are fearful”
China has many strategic competitive advantages.
China strategic competitive advantages are as follows: political, social, medical, economic, education, engineering, manufacturing, supply chain, etc.,
Because China has lesser social, medical, and political issues, it can and continues to learn, grow, and mature as a world leader.
China’s philosophy, vision, mission and culture focuses on science, engineering, manufacturing, supply chain, education, skilled workforce, etc.,
China’s focuses on the people-its leaders focuses on the Asian philosophical strengths and they practice the best characteristics of the socialist, capitalist, democratic, and other government systems.
USD1.5 billion training Western Journalists put into good use@
There was a moment when US had similar overcapacity while its trade partners either started to protect their markets or were too poor to import. It led to the crisis of 1929.