Massive bot account problem in the comments section. So much so that I'm incredibly disinclined to actually watch the video, matter of fact depending on it's content, I'm inclined to believe propaganda allegations surrounding you and unsubscribing. Many comments seem to be promoting Amazons product, and were posted within minutes after the video was up.. I'll watch the video and if it turns out that this video paints Amazon as the saviour on the horizon, I'm unsubbing instantly.
True! The US need to invest domestically for once and help created domestic jobs instead of running around the world to save 1 cent on every single products they produce.
Microchips moved to Taiwan because US companies such as AT&T were avoiding unfavorable government policies and taxation towards the chip industry. It was way cheaper getting the chips from Taipei than getting them locally. Something else that makes the chips better: TSMC makes the best chips in the world and the taiwanese government subsidizes their chips to make Taiwan indispensable to the world and most importantly, China.
@@nntflow7058its not one cent anymore. Its a lot more as money and skilled labour and materials create shortage. It will cost US at least a few times more to produce locally and that would make local companies difficult to stand in competition.
It's ultimately a matter of framing, since Government investments into their financial future in a global economy is arguably just as much of a "free market" force as a company doing the same. Letting democratically elected leaders have a say in financial policy instead of giving a monopoly to international conglomerates can just as easily free up markets as it can restrict them.
So in this economic recession, how exactly can we guard against the coming financial reset for 2025? Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $110k stock portfolio.
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
I agree, having the right plan is priceless. My portfolio is well-suited for any market and recently doubled since early last year. My CFP and I are aiming for a seven-figure goal, which might take another year to achieve.
Where may one locate a wise FA? Even while I like the idea of using their services, it's unfortunate that recent stock market catastrophes have started to happen more frequently.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Diana Casteel Lynch” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I think the most important factor that the video totally ignored is one of the main reasons that global trade didn’t lead to world peace is because the US weaponized it with its unilateral sanctions against any country that didn’t agree with it politically, and quickly governments started taking notice and feared that the same might happen to them. And that’s why they started rethinking their dependence on the US controlled financial systems, etc. not the other way around.
And it's clearly intentional because he claimed that Russian gas was "weaponized" when it was actually blocked by US sanctions and even sabotaged when someone decided to blow up the Nord Stream. And then he hypocritically condemns China for being able to sanction if they want to. He totally ignored it because it's convenient for whoever is sponsoring this garbage.
It's funny, the US achieved the most influential status any governance has ever achieved up to this point and they managed to squander it in less than 3 decades. Now they're scrambling to keep that position of power at the face of a threat they themselves created. No one stays on top forever.
i don't think thats the reason, nor is it unilateral. China never played by the rules offering very skewed conditions for foreign investors. Also, sanctioning dictators or warmongers is not necessarily a unilateral action. I know a lot of foreign aid in developing countries could have been avoided by just playing fair, but in total I would just say we never got to the state of a fair and free global market place where everybody plays by the rules and power doesn't matter.
@@tilllindemann7945 Point is, a lot of top 10 economies saw the necessity for a financial alternative in BRICS when the US cut off their fellow top 10, Russia.
@@tilllindemann7945 Those. Do you think that not a single country is concerned about the situation when the entire world financial system is controlled by one country, which can, with a snap of its fingers, deprive almost any country of its gold and foreign exchange reserves, access to the world market, etc.? At the same time, the United States is actively using this opportunity to its advantage, threatening foreign governments and imposing unilateral sanctions. At the same time, there are no global laws relating to this area, there are only certain “rules” that no one in the world except the United States has seen. In fact, this is precisely the reason: no country can feel secure until international institutions alternative to the West begin to work.
This is pretty much my PhD dissertation topic: rivalry and economic interdependence. It's great to see I'm researching something people are interested in and something relevant to current world affairs.
Same man not in college but I been reading and learning online. Its really good. I'm super articulate in the subject. It's definitely something to talk about its a "wide subject" to talk about. The best way to start is after covid and leading up to covid alot of companies where starting to strap up there boots and getting extreme about cost efficiency as high as litteraly possible. That's why Jobs aren't plentiful in the US. Cause after covid alot of companies became broke so they realize they can save a whole ton paying people pennies across the pond to make things instead of paying a livable wage in the US. But also it's a weird mix of countries being extra greedy now about every industry possible. Etc the Jamaica terrifs. Like in the dudes words in the video why the world change out of nowhere into a closed off economic depression.
Trouble is that if I can get AI to take over my job, it doesn't mean I get to stay home and do something more fulfilling, it just means I'm broke and the business owners will make more money...
@@Talador12we already see how our capitalist owners react to working from home (better for us, more productive, but they lose some control over us). So I can't imagine their thoughts about UBI :-/
Mr Johnny Harris, I tip my hat to you. I am 73 years old and recently retired. I have been a musician, a song -writer, a pilot, a pastor and I have headed up an innovation centre at a university and been a high school teacher - but I have learned more from you than I have learned from a lifetime of formal education. You are the most gifted teacher I have ever witnessed and had the privilege to learn from. Keep up the good work. The people of the world have much to learn and you are the best person to teach it!
I think it is important to note that people aren't generally as easy to move around as jobs. This is the crux in my opinion. If you move all the jobs somewhere, people can't just pack up and move to where the jobs are, so they end up in economic decline. This gets glossed over in pure economic discussions. The cities that jobs moved to get richer, but it's not money conjured from nowhere.
That was well stated. I guess it's because it is the reality that people actually face. A corollary of this is the so called "gig" economy where people make the best of limited opportunities. (The folks in charge try to sell it as a good thing.)
The former manufacturing cities in the rust belt in the US got impacted. But the rest of the US as a whole benefited from lower prices. This is good especially for poor people. Ultimately the people who lost their jobs in the rust belt found jobs elsewhere (unemployment is at record lows today), although the new jobs they founded didn't necessarily paid as well as their old jobs.
@@TheOsamaBahamathis might sounds crazy at first but hear me out. Those at the rust belt who found jobs with lower wages are benefiting from this trade too. I.e. when prices went down by 50% but wages by 20%, in absolute terms wages is down but in purchasing power it went up. Of course they aren't gaining as much as the rest of the USA, they felt victimized. That's the whole reason free trade is in trouble too. China and USA both are benefiting but China benefited most and the US felt victimized, hence all the it's not fair let's tear down the whole thing.
@@hianhoolim7786 I agree. So I think it can be said it is not purely economic factors that motivate the change we are seeing, but ideological and emotional sentiment. The culture wars have really gotten out of hand.
@@hianhoolim7786 Exactly but today Jhonny decided to not care about what "economst" say. As he points out is in his sources, but somehow lets not pay atention to that fact today. I don't know who this man is? someone suplanted johnny with an AI version that spreads US propaganda 😆
I work in New Albany, Ohio. The amount of factories and server farms that have come here over the years is absolutely insane. All of the Roads in Columbus are getting widened and paved
Company owner in Europe here, at 12:43 - Government incentives are NOT for small or medium companies, but only big corporations. Small and medium companies are still getting shafted. We made the decision 25 years ago to stay in the country and not send the production to china, which would have been better. We remained in the country, with local skilled workers. The government never cared. Never gave back for staying. Now they are giving nice tax incentive to big corporation to come back, but not to small and medium companies that stayed and paid more than their fair share. Government are just scrambling to get production back because Covid showed how dependent they were on china.
smaller medium companis are not as useful to the economy. Look at Italy. More than 50% of our business have less than 10 employees and our economy has been stagnant since 2008. Large industries that can compete and sell on a world or at least European scale are a lot more valuable. Look at the Netherlands with ASML, Philips, DSM, etc... or Germany with BMW, Wolksvage, Mercedes, Siemens, Allianz, DHL, etc...
I'm not even trying to be like that but in the US literally anyone can start a company since the gov. will gladly give you a start up loan. While that does create competition and the drive to become a good company unfortunately a lot of people are looking to be bosses instead of leaders with no business sense. When their business fails then they can go bankrupt and do it all over again.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success??
“Carol Vivian Constable” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Harris story really is a little incomplete. The first wave of globalization (1800s) was caused by reduction of transport cost which technology is responsible for. Policy was quite protectionist during this time. The second wave of globalization was a mixture of policy and transport costs.
@@alexnowicki286 its not that I don’t see highlights, but I didn’t think it this way. Im pretty sure US wont be completely self reliant same as many others. Also I wonder if government will gain more profits from domestic market even though the prices will be much more for general public and if that will be any good than current system
Imagine giving money to cia Harris, on his completely biased video about muh free markets, with a sponsor ad in it and special thanks to Bill Reinsch and CSIS in the description... But hey they say a sucker is born every minute, glad you liked it.
As someone who is involved in global manufacturing and seen this all happen, I am not surprised. All the moving of manufacturing overseas just provided short term gain. The answer is to not take away global trade, it is to make every country play by the same rules. The same health and safety rules. The same minimum wages (edit: min wage I think now is impractical). The same worker's rights etc. Right now, we do not have the same rules and policies in place.
can’t have the same rule for everyone because countries are at different development stages. However, forcing China to play by the same rules would be a start. China plays with its own rules that only benefit itself
We can't even do that among US states, and that's part of the reason that all of this works. For example, if China was forced to use the same minimum wage as the US (to say nothing of the states that have raised MW above that), then there would be no reason to have those jobs in China. We look at China as "stealing" our jobs, but think nothing of the Europeans that are out of work because compared to US labor (even unionized US labor in many cases), their labor is shockingly expensive, so the production occurs here rather than there.
It wouldn’t make sense to give everyone the same wages. First of all, there are so many different currencies, not one central currency used by all. Secondly, the purchasing power of these currencies varies significantly. Thirdly, the cost of living also varies from place to place, sometimes quite drastically. Half of the world’s population lives on less than $5.50 per day.
Whoever does the graphics is doing a great job! Like the maps with the outlines and the company logos moving around. Stuff like that makes the videos more engaging. I’m sure it’s a lot of work!
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
*Izella Annette Anderson* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
International relations is notoriously complex. The diplomats, politicians and importantly business people who all have a hand in foreign policies come from different countries and have very different views on how to run their own country. The story you just relayed assumed the whole world was West vs East.
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I dont even know where the stock market is headed to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .
I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if the advisor is providing any other value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
..You should definitely fire yourself ! That's a bad financial advise. Over 50 years of data reveal that those who work with fiduciary advisors typically earn more than those who go it alone. I've been fortunate to work with one for 6 years, resulting in a $3 million portfolio.
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Hence, Europe should reduce its dependence on the United States, especially in military and economic aspects. It's time to revitalize its industries and promote innovation across the board to better compete with nations like the US and China, which have achieved a greater degree of self-sufficiency.
Over here in Germany, we would love to be independent with our military, but we’re literally not allowed to do anything with our military. We’re getting shitted on by the US because we’re not able to defend ourselves in case of a war. But I wanna know what we could do if we’re not allowed to do anything. All our „working“ stuff goes to Ukraine. I know much of our equipment doesn’t work properly if it works at all. That’s mostly because we have to repair almost everything before we can send anything.
@@Radon_86Increase your military budget? Poland did and they are building the largest military in europe, germany is just cheap and would rather ride the coattails of the US military.
@@STEP107They can't, they are getting cuked by the USA since '48. Even their economy and government isn't has strong as their could be. I live at the FR-LU-DE border and germany in crumbling since 2020.
Great video Johnny! Two additions: 1. Globalization started in the first place to maximize income for business leaders. 2. One exception: Within Mondragon, a conglomerate of cooperatives in the Basque region of Spain, each employee has one shareholder vote, and the highest paid business leader cannot earn more than nine times the average salary of the cooperative. This might seem a low managers’ income, but this region has kept most of their industries, whereas business leaders in the rest of the Western world moved their production to China and other cheap labor countries to fill their pockets. The Mondragon region has become one of the wealthiest of Europe, with the lowest unemployment, and one of the most stable economies. They must be doing something right!
It is inevitable to happen, private debt ratio is 13:1, Government debt ratio is 140% (approx.). China has stopped selling products to USA 🇺🇸 in return to printed Benjamin Paper. Irony is China is also sinking with supply manufacturing economy for the sake of sustaining expensive western lifestyle. Capital trimming, shrinking Dollar and its associate dollar, Purchasing power(PPP) will reverse from west to East.
Whoa! Had no idea about this mondragon place. Thanks for sharing! Guess it's a great setup. American business leaders set up companies in offshore tax havens and outsource manufacturing overseas. They make tons of money and increase income inequality. Hope that ends with this american decision
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Your nice explanation about co-ops which exist in places like Holland , Israel , and the U.K Is lacking any economical explanations Sure you can claim they didn't move to China because of their corporative nature (not the 9 times rule) but they need to stay competitive somehow which most industries aren't So either they are in an industry that is local and never moved to China, An industry that is protected by the government, Or an industry that has it's "relative advantage" in Spain/Basque . Meaning the fact that it's a co-op changed nothing regarding globalization
The standardization of dollar as a "world currency" did not happen after the "horrible" war, it started after Rockfeller started exporting huge amounts of oil and wanted dollars for it which were then based on the silver standard in the 1800s. After that the US tried to impose this system throughout the world and in the Philippines they succeeded and drove the Spanish occupation with a naval conquest in which hordes of Philipino died and colonised Philippines. They tried to do the same to the Chinese but the chinese were very clever and they did not let this happen. Then in 1913 came the wretched "Federal Reserve Act" which basically gave the control of the US dollar in the hands of private banks and their directors and owners started controlling the world. This very critical section was omitted. Also, as a post script about 4-6 months before JFK was killed, he had amended a clause in the Federal reserve act which was the presidential order 11110.
Interesting, except England ruled the roost prior to ww2 with it's question gold standard. Petro dollar came about with Nixon shock. Us forced Phillipines to ditch silver for gold under mckinley.
Yes but England ruled the roost but not the US or its market, England basically ruled Asia and trades in Asia and Africa. You should read the book Hidden history of the first world war by Jim McGregor and Gerry Docherty. It gives you a really good perspective of the politco-economic position of Europe and America before the First wirld war and roots of the second warld war. I think you will be surprised at how much is never told. And how basically Germany was coerced into the WW2, they were literally dying and starving. They never lost the WW1 officially, no armstice, it just sort of fizzled out. The Petroleum industry started basically with standard oil in the US and then the Nobel bros(yes the same ones in the dynamite business) in Azerbaijan. The petrodollar started with the US Saudi Agreement in 1945 not with nixon. But the trade of petrol and federal reserve act and the standardization of dollar on silver or gold predates all this. Yes US did try to make phillipines ditch Silver to gold because they wanted to introduce the standard for currency as gold, which was the standard for dollar then. Effectively demonitizing and devaluating the Silver Peso imposed earlier by the Spanish colonials.@@JK-gu3tl
Well, i do have my reservations about the economic crisis. Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $650K portfolio is down by approximately 20%, any recommendations to scale up my ROI before retirement will be highly appreciated.
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Great video as always, but I wish people would finally understand that individual EU member states cannot have their own trade policies, the entire customs union acts as one. The visuals in this video make it seem somehow like Germany, France and other EU countries are putting in place their own protectionist and isolationist policies, and tariffs, while they simply cannot do that - it's an exclusive competence of the EU. This was also the reason why Brexit needed to happen BEFORE any trade talks started because EU couldn't have trade talks with its own member state. I'm sorry Johnny, but you're a professional and it's been decades since the formation of the EU, it's the world's second largest economy and contributor in trade, so please represent it accurately. "The European Union (EU) is a customs union, which means that all EU countries are obligated to take the same tariffs and apply the same import restrictions. The EU is therefore represented by the EU Commission in all international trade negotiations and member states cannot negotiate their own trade deals with third countries"
I think its not about tariff but more about subsidies put to the industry to make it more competitive. For example, Germany gave a lot of subsidies for car and semiconductors factory building these days. (Tesla, Intel, Infineon etc). Which is another kind of protectionism. Since they distorted the market and gave advantage to themselves.
@@sober17994 Absolutely! The problem lies in how he inconsistently mixes terms to suit his narrative. Subsidized industries aren't a novel concept - take the longstanding rivalry between Boeing and Airbus, or the extensive subsidies in various agricultural sectors, including the dairy industry, where overproduction often leads to product dumping (cough cough what happened during COVID). This demonstrates that many of these industries are not purely market-driven and haven't been in the US for over half a century. However, equating such subsidies with trade agreements and portraying them as groundbreaking, out of the ordinary or revolutionary is misleading. This is not a new strategy; China has engaged in similar practices for years, so has the US, and the EU (and yes in case of the EU those government aids are made on an individual country government basis, correct). But, he makes it seem like somehow Germany is putting up "walls" to protect their industries, which suggest some changes in trade agreements and protectionist policies which are totally up to the EU. The visuals seems to suggest that trade policies are evolving due to rising isolationist ideologies, a claim that is contentious, particularly regarding the EU. While private investment patterns may shift and governments might invest heavily in domestic manufacturing, this isn't a direct critique of foreign policy. It becomes relevant in the context of protectionist measures like tariffs, quotas, or outright bans - evident in the airline industries of the US and Canada, which prohibit foreign companies from offering domestic services. Unlike these examples, the EU, despite subsidizing Airbus, does not employ protectionist tactics within its market or airspace. Therefore, his argument appears sensationalized, attempting to draw unclear parallels between foreign policy, trade, and government-driven economic incentives to portray a picture of "this new scary world", which isn't exactly as revolutionary as he makes it out to be.
@@divat10 the word 'job' needs to be revisited. It's not his job. This youtubing activity Johnny does is his own work. Idk if he's registered it as a business, but this work qualifies as self-employed. He has people to help him out as contractors. So he's the owner, who is also an active participant. Doesn't make it a job. Makes it work. Making youtube videos is not a profession, nor is it a professional activity. There is no certification to qualify this trade. It's an independent creation. So, in the legal sense Johnny is an amateur, independent video creator. So, he's not even legally bound to hold the same standards as independent journalists. That means he can post fiction as reality and get away with it. I fully understand what you meant in your point. But it's important to clarify because people are so accustomed to using blurry semantics, under confused ideas that people are factually just as misinformed and wrong as their perception of China, Russia, Middle East, science, religion, and the special military operation in Ukraine.
a country dominated by lawyers, judges, media, and politicians cannot understand that in order to manufacture something they need to invest heavily to it in the 1st place.
It's weird how you pointed out all of the problems of globalization then seemed really confused why people are shifting away from it. My entire life has been dictated by globalization. My hometown has been in decline my entire life. My already poor family was rocked when my father's factory job was sent to China. Globalization has failed my entire life. It's time for change.
It's not China, it's the zionists who control the corporations and wanted to make more profits !!! It's basically capitalism !!! You cannot hv capitalism and NOT end in the decline you mention. Otherwise you end up with a socialist country that takes care of the people.
Globalisation is not to blame, just as AI (once will take our jobs). Capitalism is to blame. Not saying that communism is the solution, but somewhere there in the middle.
I'm absolutely blown away by the visuals. they're absolutely stunning, they look like they were custom produced for this video. this is award winning level of production
I really hope this bring more Americans out of poverty and we come together to make a change in America itself. We need a change and avoid wars all together
🤔🤔🤨😢😥😭 THE globe has moved on from the USA. Thank god our propaganda media still tells use we are "exceptional". If they didn't...we'd have a total meltdown civil war. If trump or biden remains as prez...nail in the coffin. We live in a bubble in the basement. god bless america!
You live in naivity. It is obvious that end of global economy and secularisation by culture (Asian cluster, Europe cluster, muslim cluster etc) leads to wars BETWEEN culters.
Exactly! Very little is new. I was surprised the way he painted the idea of POLICY as if its some new societal instrument. The only thing new is the scale, speed and ease of communication which fuelled globalisation
This was a good watch but it's fair to point out that companies were still profitable and didn't pass many of the savings on to consumers. In addition to that, many people also found themselves replacing things more quickly than before the glut of overseas manufacturing. So while prices may have gone down, for many families they'd spend more by having to replace things more frequently. It's also worth mentioning that advanced manufacturing is different from food and similar goods. There's a strategic advantage to making microchips, chemical precursors...in your own country and not relying on another country for those. Even historically, it was rare for a country to trade for all of their food and trading for the majority put them at a huge disadvantage. That said, we'll see if there's a major impact on prices and wages.
It is in a sense !!! How wouldn't you have feel like, when you're born, say like inStance an Aetis China'nice but world money trade was minus three times but other Aetis country are having world trade money of five times on worldwide globally trade's? Some people would say, it's just a laughing stock market!
Exactly. The products weren't actually "less expensive." They were more expensive because they were low quality and broke quickly. Many lost their jobs or had to go into low paying jobs and could only afford cheap China crap that broke quick so anything they spent they just bought themselves into even more poverty. That is most of the us population
We are at this change in free trade because we are losing. The idea of a consumer economy is a ridiculous notion. If you don't built it, grow it, or innovate it. You have no value
Great video, beside the slightly misleading title - global doesn´t mean only the US and China, but also the other major players like the EU (which is re-emerging as a united economy), India, Northern Africa and Sub-Saharan Africa.
As a poli-sci major in the 90's, when we learned about globalization, the national security risks were discussed and our professor was quite concerned. Legislators' decisions to accept lobbying contributions and allow our manufacturing base to be outsourced is incredibly self-serving. And, as the saying goes: You can't put the genie back in the bottle.
And yet, you'd be hard-pressed to find an economist who would tell you that Americans did not, in aggregate, benefit mightily from globalization. It's just that the benefits are much less obvious than the cost, so it's a topic that's rife for populist politics... especially if the area of the country most affected by it tends to be the only one that really matters in Presidential elections. Pander policy is always foolish.
@@tjt5055there are benefits to both. I think there’s more benefit to Americans having jobs, local economies having money and the American economy benefitting more than China or Mexicos. This means the price of our goods will inevitably go up. But it also means more Americans can afford those goods.
@@tjt5055 Globalization is a unique marvel in human history because it is the first to benefit the world. I travel to "3rd world countries" regularly and it's quite clear that many 3rd-world countries have BETTER quality of life than USA while retaining access to ALL the modern marvels. You would not find that in these places when they were "colonies" or "servant states" like in the past.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living..
Yep! This is basically what happened with the housing market in 2008. Houses should increase in value by 5 to 8% every year. Average houses now are priced 200k above value. When the market goes down, which it will because it’s cyclical, people will either “walk away” or be house poor.
As a Canadian, I think we are just fed up with our government sending money to other countries, while us Canadians are suffering and cannot pay rent. The shift to a more country first approach is the direct result of people who cannot pay their bills.
Canada has enough to do both, but I ask are you willing to see a massive amount more homes built therefore decreasing home value? that's the crux here with most of our wealth in real estate
@@minedgravy380 Yup, I don't see myself owning a house anytime soon, if it stays like this. If the housing market did crash, I think a lot of people, including myself would be happy. But even if it didn't crash, I would love to see new policies implemented to decrease housing costs, like preventing corporation and foreign owned real estate, and even capping people from purchasing more than 2 or 3 homes. That would drastically impact the market and allow 20 to 30 year olds to actually afford a home.
Not saying it's right, but the government sending money abroad is incredibly important to its global strategy, most of the money we send is for loans that have conditions attached to them that end up benefiting us. This is what happens when we send money to the third world. You're right it should end, but this global strategy is very important to the corporate class and is unlikely to end
Part of the reason we are willing to rethink free trade is because quality of living (gross national happiness) has not continued to increase with economic growth.
Very true. In the 60's, people thought we'd have a 10 hour work week by now because we got so good at producing things. Instead, it's just been the rich getting richer.
That is an interesting take. There might be something to it. But if it is true, a mistake is being made here, we are lashing out at globalization and capitalism like they are to blame and we are probably wrong about that assumption.
Things would've been fine if people hadn't become complacent, and parents hadn't taught their kids nonsense like following their dreams. They developed the attitudes of the rich prematurely, and with shallow thinking. Free trade itself is fine. Even much of the US in general is fine. But you do have a section that's in poverty. Sacrificing the country's future (and the future of the world) for the sake of those people though, is funny stuff... Since it's not like they have anything real to offer. There are no more good jobs like the $5/day "act like a human robot" jobs. Those have been replaced by actual robots. In the end, earnings are about contributing to others. If you can't contribute well, you don't deserve much.
While importing can be cost-effective, over-reliance on other countries poses risks due to geopolitical tensions or disruptions. If countries prioritize self-sufficiency, consumer goods' production costs may rise, impacting affordability and potentially slowing economic growth. Striking a balance between global interdependence and domestic resilience is crucial for economic stability.
I think China has been preparing for this for a long time. I read a book called America Against America Paperback - by Wang Huning which was written in the 90's which feels like it was written today.
The pandemic definitely escalated a lot of these feelings and much of what is happening now could be viewed as an overreaction or as "over correcting" for the perceived scarcity and dependence that was temporarily put on hold during lockdowns. Geopolitical analyst and expert, Peter Zeihan, has written a bunch of books and given a bunch of talks on this exact topic and it would be really cool if Johnny could do some sort of interview or collaboration with Peter, that would be really great. Cheers
The lockdowns just exposed existing weaknesses in the global supply chain, we still need to correct those issues or they will happen again and it may not be as temporary next time.
These weaknesses show up every time there is a disaster. Flooding and earthquakes that devastate areas and shut down manufacturing crop up every few years. Tech products like chips, memory, and storage have all run afoul of these situations and bring on fears of being too dependent on foreign producers.
I'm not quite sure Peter Zeihan would be a good fit. To me most of his predictions, expecially in his youtube content, sound extremly sensationalist. His content gives a good impression, on what people are interested in but not much more, sadly.
Economic entanglement is great to prevent wars but catastrophic during a global pandemic when markets go offline overnight. We need a system that allows for independence on critical supply chains but incentivizes cooperation and decentivizes aggressive action. Much easier said than done. This will be painful but necessary.
It isn't even great at preventing wars. Just look at Russia, they are determined to take Ukraine by force no matter how much this damages their economy. Every war ever fought was because the leaders calculated there was more for them to gain than to lose, regardless of what the actual outcome would turn out.
We can understand why people all over the world wanted to do something to prevent another WWI and WWII. Frankly I don't think the economic entanglement theory was all wrong. It actually worked I. Europe and the world has in fact avoided a world war during globalization. The problem seems to arise with countries that have been previous global powers or have global ambitions, they don't give up those ambitions no matter how economically intertwined they get, and once you get into larger technological advantages, it's game over.
I think this video is wrong in some ways, and I think the biggest problem with Harris' video is that it oversimplifies and dramatizes history: 1. The industrial base of the Great Lakes region of the United States has been in continuous decline since the 1960s and 1970s (you only have to look at the historical demographics of Detroit), and in the 1980s the Detroit auto industry was hit hard by the rise of the Japanese automobile industry. So the decline of the Great Lakes was a trend long before Chinese goods flooded the West. The large-scale integration of China's coastal factories into international trade started in 2001, and you can recall that the first time you saw a lot of goods made in China was actually around 2002, not the 1980s as the video says. 2. The so-called free trade was proposed by the Western countries in the era of absolute technological and industrial advantages, because it was easier for the computer room countries to dump goods and obtain labor force to the third world. But China's industrial rise and expansion has broken the Western monopoly on high-tech industries. Chinese cars and mobile phones are being sold all over the world. Chinese-made ships, CNC machine tools and aircraft will also compete with Western products. This is something the United States cannot tolerate. In fact, this kind of trade protectionism happened in 1980-1990 when Japanese industry expanded globally.
Good points but Made in China started getting big in the 1990s. There was already a ton of Made in China goods in the 1990s and that was the same decade Walmart got huge.
This video correctly points out that most of China’s rise came from technology from the west. Who do you think help China build the CNC machines or the aircraft? who do you think is buying all the stuff to fund the expansion of development you clearly don’t know a lot about industrialization.
@@mharley3791 yeah the aristocracy "trickle down" crime syndicate sent their henchmen Nixon and Kissinger to kiss Mao's behind. It was all to get Mao's slave labor force to wipe out Amercan unions and funnel all the money to the tip into the "trickle down" crime syndicate's pockets. The "trickle down" criminals making all the decisions for this country all for their own pockets for the next quarter instead of We the People seriously examining everything and planning seriously for the future, that is the big problem. It's one thing to trade rice or corn. But it's a whole other thing transferring technology. That NEVER should've happened but the "trickle down" criminals were deciding everything and making foolish decisions on these matters. And no one should be fooled by the "reality tv" celebrity master media and bandwagon manipulator silver spoon draft dodging demagogue and trademarks in 🐼 princess the "trickle down" crime is syndicate is using to exploit the problem they themselves caused
This actually secretly is the second part of a two-part series. Part one is called the new Cold War, which I published a few months ago. I hope you enjoy.
You need to go into how Free Trade has also decimated local economies in the global south, especially when it comes to food products. It wasn't a means of world peace, but a means of advancing US domination over global trade, depicting 'thriving', but only under regulations that benefit US political and economic agendas. Also how Globalization is US/ Euro centric, and it is homogenizing culture across the world. As someone who grew up in the global south, the westernized urban lifestyle is now the epitome of success, which leads to the devaluing and abandoning of traditional knowledge, and ancestral life ways that are proving to be essential guide posts for how humans can live ecologically within the boundaries and laws of a finite planet. If every country is trying to become the Consumption monster of the US, we are all fucked. Globalization/ Reaganomics has set this unrealistic and even dangerous standard of connivence and consumption, which is killing the diversity of culture, heritage food crops, ecological diversity, and Global equity. Can you make a video about the how bedrock structures of our current Market economics are steeped in colonialism and white-supremacy??
Just one thing: Putin did not turn off the pipelines. Europe put sanctions on Russian gas by itself. Then the US blew up Nord Stream. That’s the story. Thank you
@@AZANlAThat's such a silly statement. It's like me saying Russian media is full of Russian bias. Like wow?? Who would have thought?! Answer; not you two, as the propaganda machine has gotten to you two so hard Think about where you get your news from critically first, before pointing to others. I commend you two for getting news from both sides, that's an amazing first step, but to condemn one side over the other without any consideration is just silly and makes you appear brainwashed
If Import taxes were based on how environmentally-, human- and animal- friendly the imported goods were produced, it's not a bad thing. But I agree, when Import taxes are used as a weapon or to isolate each country comes with a lot of boomerang problems.
Mind-blowing video, Johnny thank you. If anyone is interested in how the spread of liberal democracy stagnated and led to rising populist resentment of globalisation, I strongly recommend reading Ivan Krastev’s ‘The Light That Failed’. It takes the psychological perspectives of imitating externally inponsed values on people and their leaders
The fact that economic entanglement can be used as a weapon is great! That way we have to rely on booms and pewpews only at a much later stage in conflict.
due to the entanglement you refer to, those later stages end up involving a LOT MORE 'booms and pewpews' than they otherwise would. Don't forget that the prelude to both world wars was essentially the same exact idea.
Sounds like overall bad news for everybody. Back to the days of ICBMs, spies, war readiness and oppressed populations becoming even more desperate. But this time some of Africa might be better off. But then pollution from China is going to get us all anyway, it already started a while ago.
@@Superpooper-2020 I feel you. Both India and Africa has all the material and human resources to become first world economies. All we need is a brave, wise and strong-willed leader to steer us in the right direction
I feel so fortunate to have found your channel. Your videos give me a greater understanding of what I'm seeing and hearing in real time. Thank you! I appreciate the time and effort you put into your videos! Top notch stuff!
Its also amazing that goods are manufactured by workers, not grown from shelf. Any industry, ANY, that requires material and factory and works' hand, rarely has a profit rate greater than 10%, which is almost the basic profit rate of financial companies. Unfortunately it is still a sad story
American, Canadian, and European companies are now investing in Mexico. Mexico might become the manufacturer of North America, and it would be a lot cheaper to move your companies factories closer to home in another country closer than having them in China and even Chinese companies are leaving China just so they can have access to the US market at a cheaper rate. Mexico just surpassed China has the US's number one trade partner.
"Vladimir Putin turned off pipelines that pumped that natural gas into Europe" - that's not quite what happened. They requested to pay in Rubles for the gas. Same as USA requests US Dollars to be used (not via federal laws to be honest).
This is really complex and it takes a good economist to explain it all. To start, it is at least partly about supply and demand, and competition. We must stay competitive by making higher quality and more cost effective products. It’s not just about moving the factories back. If it costs 2-3x as much for an American worker to produce the same product, the American consumer will pay 2-3x more to buy American, effectively making ourselves poorer. The hope to bring back jobs without making some sacrifice is wishful thinking because there is already another country that could do it better or for less. For this reason, there may not be the demand to buy the more expensive American products except Americans.
The United States endorsed the global economy when it served its interests in assuming world leadership. Nevertheless, as China also started to reap benefits from it, the U.S. concluded that the concept of a global economy was not a favorable idea!
14:35 The mystification starts here: the current trade conflict is not truly about protecting workers or the climate. Instead, it is motivated by the cycles of the capitalist economy. Specifically, when it was beneficial for big economic groups to invest in China, they did so. Now, however, these groups are facing competition from Chinese big economic groups, and therefore find it advantageous to start a tariff war. Politics is often a continuation of the economy by other means. As "war is the continuation of policy with other means." Almost all countries are investing in renewable energy and electric cars while also increasing their nuclear arsenal. This is because the ruling capitalist class elites recognize that these initiatives will be central to the future of the global economy, and so they are striving to adapt to this new norm.
The reason is global resource shortage. Critical elements are now in short supply. Take silver for example. According to Silver Institute globally there was a 140 million oz physical silver deficit in 2023. The silver deficit since 2021 wiped out almost 2 decades worth of stockpiles. Remember, modern medicine and almost all electronics require silver. Electric vehicles require a lot of rare elements. Elements which simply aren't as readily available or require too much energy to extract.
Peter Zeihan( The Accidental Superpower 2014) predicted much of this using analytics & history. Though the timing is a little off because that's the harder part.
Peter Zeihan said globalization was a bribe to the world to fight the Cold War. The Cold War is over and the United States of America is finished paying the bribes.
why? He turned off gas deliveries in July 2022. The problem is that while Europe bought 35% of its natural gas from Russia, Russia sold 85% of its gas to Europe. And Russia's revenues depend mainly on the sale of oil and gas. And while Europe quickly found a replacement and prices are now back to 2019 levels, Russia's gas revenues are down by 50% and their national wealth fund is almost depleted. Russia was economically dependent on selling gas to Europe and now they will need a decade to build a new pipeline to China and even then they will sell less.
....what I lied, russia have never sell so much more oil and gas to India and China. They are selling their oil to U.A.E. Then UAE are selling it back to the rest of the world. The west is getting kicked out of the new world order. The BRISC+ Europe ....well germany is heavily suffering of a higher energy price right now. Their heavy industries is leaving their country amd the U.S are heavily financing via incentive to get their plant. Ah and u guys bomb northstream 2. Aka CIA
This is just really good propaganda. What’s really happening is countries securing their sovereignty. In the current world economy some have to lose so that others may win.
It happened really fast, it's like we woke up one morning and can't ship our products to China anymore. Of course there are ways around it but what really surprised me was that every single one of our competitors had their own different way of doing it. In the end, it's just gonna make costs go up.
The west doesn't need to buy a new phone every year. Consumerism is also a big problem. People buy things almost reflexively. Whatever it takes, we must stop China and Russia from becoming more and more powerful. Their goals are not benign whatsoever. They are both authoritarian countries that opress their people.
Of course costs will go up. China had been artificially been putting costs down to make it attractive to invest there. Unfortunately, every Dollar we invest in China's going to the military and the eventual conflict that's to come. This is a similar strategy on how Nazi Germany had uplifted the lives of ordinary Germans before the start of WW2. Their growth was unsustainable, and they needed the workforce and resources of their invaded countries like Poland, France, North Africa, and the Soviet Union to continue funding benefits to their people and their war machine. China's case isn't that extreme, but their exchange rate isn't 1:1 where both sides benefit and all the losses are shoved somewhere else.
@@Finesse_Les The US is still the second largest exporter of goods and services, there's a lot of stuff that is exported from the US to china that the sanctions effected.
I think Johny is wrong that we can now know that global trade has not reduced conflict between states. Like it's not falsifiable - there's no way to know that a conflict was averted. Like how do we know China/US relations would look if they weren't economically intertwined? Economic interconnection does additional costs to conflict. And that we would expect rivalry and butting of heads in the trade space should shock nobody. But we shouldn't expect tensions in that space to be bad when it's possible that those tensions in trade is not indications the system is failing, but working. Anybody would rather have a trade conflict than war.
Johnny! We agree with what you are saying in this video; a political leader Argentina is saying what you tell in this video since 2015: his name is Guillermo Moreno. You should study it or talk to him
The US never expected China to grow that fast, just like the Pacific War and the Korean War were different。 For the United States, the Korean War was a small war with no full effort, but for China, the war united China, just as Nixon visited China as a young man, the streets were filled with beggars, prostitutes and starving passers-by。 But when he visited communist China during the Cold War, it was like a little Soviet Union, and the country was still poor but full of discipline。
Great dive into the topic, and I think there's much more to it that you might want to dig even deeper into. Peter Zeihan's last book "The End Of The World Is Just The Beginning" goes over this whole cycle, including a very deep dive into the history of trade and war and civilization forming, and how it all lead to today. A few key things in addition: - Human's base state is war. As our tribes grow, they need more resources (which includes people), and the way we tend to get them is conquest. Trade helps to supplant that, but war will always linger in the background. Without security of trade routes and supply lines, they are the most vulnerable to attack. A country losing it's supply lines can spell death for it's people, especially if that country is entirely dependent upon external resources for suppling food and energy to it's people (which a lot of the world is currently). Globalization has allowed countries to flourish in spite of the fact that there are no natural food sources within those countries. - Post WWII we formed collectively the Bretton Woods agreement with the world. Stabilize trade on the US dollar, anybody that wants to play has to be peaceful with all the others in the group, and the US will not only provide protection for countries in the agreement, we'll also guard the supply lines with our navy. Hence if you want to fully understand the need for our military budgets and investment, look no further. BUT another key reason this happened is it was a way to do a war of attrition with the Soviet Union. The world did not want to jump into another massive war with the USSR post WWII, hence it was better to play the long game against them, and it very clearly worked. Since that's no longer in play, the question is how much longer is the US willing to play ball? BTW this was unprecedented in all of human history!! After major wars the victors would take over and rule, but the United States didn't do that. Instead they did this agreement and created the most prosperous time in all of human history (so far). - The key reason why globalization has become the behemoth that it has is not necessarily due to policy, but due to ultra cheap shipping! For centuries shipping was the most expensive part of trade! With Bretton Woods, that allowed for the creation of mega-ports and mega-transports as there wasn't a need to spend capital on defense of trade routes and ships! The only reason a single product can span 7 countries to be made is due to how cheap shipping has become (we're talking pennies per item cheap). Now countries can export their specialized labor and resources to the world in terms of "making stuff". Something as simple as a shoe can make 5 hops to 5 different countries before hitting the market for sale. Also Just In Time shipping has allowed globalization to flourish. The shipping industry is the new Swiss Watch of precision in that all parts of a supply chain know exactly when and how much of product they're going to get. This allows for them to stock the bare minimum of what's needed to keep the pipelines moving and making things. It also helps to keep the costs down.... BUT.... and it's a big but! - You are right in that COVID did expose a weakness in that things we heavily rely upon are so fragmented across the world to make that if anything tosses a monkey wrench into it, we all suffer. Just In Time shipping falls flat if the Swiss Watch breaks down (i.e. part A in the chain is now delayed, which delays parts B, C, and D even more, etc...). BUT... that's only a piece of why countries are starting to pull supply chains inward. Population decline is the other. China is going to lose half of it's population and labor force over the next decade or so. India and much of south east Asia is about a decade behind that. Germany and Britain are in that mix as well. So even if the status quo was maintained in keeping production and supply chains where all are now, there just won't be enough people to actually produce the product! Hence it's safer to bring the critical supply chain and production facilities back within one's borders, or to neighboring countries that are easy to trade with and will maintain population numbers. Along with the other concerns you mentioned about security and such. It's a fascinating topic, albeit in a dreadful sort of way when you see where we are and where we're headed. There's definitely a lot more to cover on it, which I hope y'all make another video on :)
Containers brought the cost of shipping down a great deal as well. In 1951, the first purpose-built container vessels began operating in Denmark, and between Seattle and Alaska. The first commercially successful container ship was Ideal X, a T2 tanker, owned by Malcom McLean, which carried 58 metal containers between Newark, New Jersey and Houston, Texas, on its first voyage.
@@dksharron Peter Zeihan covers it as well in that book "The End Of The World Is Just The Beginning. If you like digging more into this topic, I personally found it to be a very insightful read on both globalization and human history.
As a counter point, the EU is extremely protectionist and a flagging economy with limited innovation. When goods are cheaper to ship across vast oceans than across shorter distances on land, why should the UK limit itself to a small protectionist block? The EU implements heavy tariffs on goods. Outside the EU, the UK could (theoretically) set up free trade deals with the US and ex commonwealth countries.
But Europe is the closest landmass to the Uk, the supposed alternative would be trading more with countries further away like the US, even though they are an ally they are a country which has imposed tariffs on the UK, like steel tariffs. Brexit ripped the UK out of its local economy within the globe, Europe, which it has obviously had trade links with for thousands of years. It's not the same as the US and China, and its not protectionism against the global economy, clearly the opposite.
@@Theomardell-v1t no it clearly isn't protectionism against the global economy. It may be that it is closer but it's often cheaper to ship things cross oceans than ship things cross landmasses via rail. The distance no longer matters, simply the markets you have access to
@@Jamalanawana surely a hyper capitalist faction would allow for free trade, not have 30% of the housing in inner city London be socially rented housing and not have massive deficit spending whilst increasing taxes? Maybe you're looking for a different word
He didn't tell the true story or even mention the word neoliberalism. The real story of the last half century is the U.S. and IMF destroying economies by forcing them to privatize their economies through what they call structural adjustment programs and starting wars with and placing sanctions on countries that don't go along with this imperialist program. It's good that China and Russia are riding. Enough of the wars and U.S. bullying. Third world countries deserve the right to develop their own economies. I support the BRICS alliance.
I think this both side have a point. You want a global economy where different groups rely on eachother and become partners but not too reliant that the country shutdown during a crisis. Every country should have all basic necessities inside the country to sustain itself. All other things can be added such as luxurious items
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Hi, Johnny ! When it comes to video editing, You are my top inspiration. I am not big fan of politics stuff, but i have watched all your videos to know atleaset 1% of your editing style. And I have also found tons of youtuber's explaining your editing style, Instead of watching their videos, I come up with a request that " why you don't give us tips and trick" of video editing process on your own channel?. I mean when you get board from doing your regular stull, you can share a short of videos about the editing style :). Thank you for posting such an amazingly videos.
I'm from Brazil, and from my perspective we see a new world order being formed with the decline in importance of the USA in the face of multipolarism. Brazil in particular seems more inclined towards the BRICS than towards the Atlantic, although geopolitically, we always end up tending towards the West. while the West worries about how to please minorities, China continues to dominate the industry with its countless PhDs; Russia continues with its large military arsenal; Arabs and Africans and Indians continue to increase their families. Faced with a new cold war, we have not yet updated our stance in the face of current challenges
it's quite a common view to see the creation of the free market in Europe after ww2 as a response to the protectionism that happened during and after the Great Depression. Economic protectionism made it more viable for states to wage total war against one another. Its probably a stretch for the 21st century as China and the US would have little to gain and potentially everything to lose from war but I do think we are seeing a bit of a retrenchment of the nation state and more of a renewal of nationalist competition.
“Using cheap Chinese labor to become the richest country in the world” Americans: hell yeah “Chinese people become wealthy from all the hard labor” Americans: OH HELL NAH
Globalization by and large bettered lives in very specific areas of globe. It definitely enlarged the purses of big corps. Unlike many other including India, china used global trade to improve its stature in the world. Which is terrifying former colonialists.
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Please make a video about Armenia Azerbaijan Nagorno karabakh conflict
You should make a video about Armenia Azerbaijan Nagorno karabakh war.
I really like your color science on these videos
Please make a video about Karabakh (Artsakh) conflict ❤
Massive bot account problem in the comments section. So much so that I'm incredibly disinclined to actually watch the video, matter of fact depending on it's content, I'm inclined to believe propaganda allegations surrounding you and unsubscribing.
Many comments seem to be promoting Amazons product, and were posted within minutes after the video was up..
I'll watch the video and if it turns out that this video paints Amazon as the saviour on the horizon, I'm unsubbing instantly.
Note: Microchips didn't move to Taiwan because of the free market. It moved there because the government invested in it heavily.
True! The US need to invest domestically for once and help created domestic jobs instead of running around the world to save 1 cent on every single products they produce.
Well there's always two sides of the coin- US didn't invest but Taiwan did
Microchips moved to Taiwan because US companies such as AT&T were avoiding unfavorable government policies and taxation towards the chip industry. It was way cheaper getting the chips from Taipei than getting them locally. Something else that makes the chips better: TSMC makes the best chips in the world and the taiwanese government subsidizes their chips to make Taiwan indispensable to the world and most importantly, China.
@@nntflow7058its not one cent anymore. Its a lot more as money and skilled labour and materials create shortage. It will cost US at least a few times more to produce locally and that would make local companies difficult to stand in competition.
It's ultimately a matter of framing, since Government investments into their financial future in a global economy is arguably just as much of a "free market" force as a company doing the same. Letting democratically elected leaders have a say in financial policy instead of giving a monopoly to international conglomerates can just as easily free up markets as it can restrict them.
So in this economic recession, how exactly can we guard against the coming financial reset for 2025? Like what are really the best strategies to make our portfolio recession proof against the incoming financial reset? I'm very worried about my $110k stock portfolio.
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
I agree, having the right plan is priceless. My portfolio is well-suited for any market and recently doubled since early last year. My CFP and I are aiming for a seven-figure goal, which might take another year to achieve.
Where may one locate a wise FA? Even while I like the idea of using their services, it's unfortunate that recent stock market catastrophes have started to happen more frequently.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with “Diana Casteel Lynch” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I think the most important factor that the video totally ignored is one of the main reasons that global trade didn’t lead to world peace is because the US weaponized it with its unilateral sanctions against any country that didn’t agree with it politically, and quickly governments started taking notice and feared that the same might happen to them. And that’s why they started rethinking their dependence on the US controlled financial systems, etc. not the other way around.
And it's clearly intentional because he claimed that Russian gas was "weaponized" when it was actually blocked by US sanctions and even sabotaged when someone decided to blow up the Nord Stream. And then he hypocritically condemns China for being able to sanction if they want to.
He totally ignored it because it's convenient for whoever is sponsoring this garbage.
It's funny, the US achieved the most influential status any governance has ever achieved up to this point and they managed to squander it in less than 3 decades. Now they're scrambling to keep that position of power at the face of a threat they themselves created. No one stays on top forever.
i don't think thats the reason, nor is it unilateral. China never played by the rules offering very skewed conditions for foreign investors. Also, sanctioning dictators or warmongers is not necessarily a unilateral action.
I know a lot of foreign aid in developing countries could have been avoided by just playing fair, but in total I would just say we never got to the state of a fair and free global market place where everybody plays by the rules and power doesn't matter.
@@tilllindemann7945 Point is, a lot of top 10 economies saw the necessity for a financial alternative in BRICS when the US cut off their fellow top 10, Russia.
@@tilllindemann7945 Those. Do you think that not a single country is concerned about the situation when the entire world financial system is controlled by one country, which can, with a snap of its fingers, deprive almost any country of its gold and foreign exchange reserves, access to the world market, etc.? At the same time, the United States is actively using this opportunity to its advantage, threatening foreign governments and imposing unilateral sanctions. At the same time, there are no global laws relating to this area, there are only certain “rules” that no one in the world except the United States has seen.
In fact, this is precisely the reason: no country can feel secure until international institutions alternative to the West begin to work.
This is pretty much my PhD dissertation topic: rivalry and economic interdependence. It's great to see I'm researching something people are interested in and something relevant to current world affairs.
It’s a new world reset playing field
Same man not in college but I been reading and learning online. Its really good. I'm super articulate in the subject. It's definitely something to talk about its a "wide subject" to talk about. The best way to start is after covid and leading up to covid alot of companies where starting to strap up there boots and getting extreme about cost efficiency as high as litteraly possible. That's why Jobs aren't plentiful in the US. Cause after covid alot of companies became broke so they realize they can save a whole ton paying people pennies across the pond to make things instead of paying a livable wage in the US. But also it's a weird mix of countries being extra greedy now about every industry possible. Etc the Jamaica terrifs. Like in the dudes words in the video why the world change out of nowhere into a closed off economic depression.
Anything to add?
don’t
please post link so we can read your Phd thesis
Trouble is that if I can get AI to take over my job, it doesn't mean I get to stay home and do something more fulfilling, it just means I'm broke and the business owners will make more money...
True
Remember that candidate that brought up the idea of Universal Base Income?
Andrew Yang@@Talador12
@@Talador12we already see how our capitalist owners react to working from home (better for us, more productive, but they lose some control over us). So I can't imagine their thoughts about UBI :-/
unless the gov takes that money from the business owners and gives it to citizens
Mr Johnny Harris, I tip my hat to you. I am 73 years old and recently retired. I have been a musician, a song -writer, a pilot, a pastor and I have headed up an innovation centre at a university and been a high school teacher - but I have learned more from you than I have learned from a lifetime of formal education. You are the most gifted teacher I have ever witnessed and had the privilege to learn from. Keep up the good work. The people of the world have much to learn and you are the best person to teach it!
Mr steenekamp
you're a genius, i would love to talk to you personally and get advice from you!
Maaan,you have as much of a diverse career as Johnny Sins
@johnnyharris
@johnnyharris
I know he means microchips, but hearing big Joe say, "we need to make these chips right here in America" is hilarious without context
All chips are good chips. If he meant the food I’d agree with him even more
I don’t get it, we are the main ones designing those chips we just send the blue prints to Taiwan since manufacturing st home is expensive.
He probably believes he's talking about potato chips to be fair
Heart disease has entered the chat
Chips is a short term for microchips.....
I think it is important to note that people aren't generally as easy to move around as jobs. This is the crux in my opinion. If you move all the jobs somewhere, people can't just pack up and move to where the jobs are, so they end up in economic decline. This gets glossed over in pure economic discussions. The cities that jobs moved to get richer, but it's not money conjured from nowhere.
That was well stated. I guess it's because it is the reality that people actually face. A corollary of this is the so called "gig" economy where people make the best of limited opportunities. (The folks in charge try to sell it as a good thing.)
The former manufacturing cities in the rust belt in the US got impacted. But the rest of the US as a whole benefited from lower prices. This is good especially for poor people. Ultimately the people who lost their jobs in the rust belt found jobs elsewhere (unemployment is at record lows today), although the new jobs they founded didn't necessarily paid as well as their old jobs.
@@TheOsamaBahamathis might sounds crazy at first but hear me out. Those at the rust belt who found jobs with lower wages are benefiting from this trade too. I.e. when prices went down by 50% but wages by 20%, in absolute terms wages is down but in purchasing power it went up. Of course they aren't gaining as much as the rest of the USA, they felt victimized. That's the whole reason free trade is in trouble too. China and USA both are benefiting but China benefited most and the US felt victimized, hence all the it's not fair let's tear down the whole thing.
@@hianhoolim7786 I agree. So I think it can be said it is not purely economic factors that motivate the change we are seeing, but ideological and emotional sentiment. The culture wars have really gotten out of hand.
@@hianhoolim7786 Exactly but today Jhonny decided to not care about what "economst" say. As he points out is in his sources, but somehow lets not pay atention to that fact today. I don't know who this man is? someone suplanted johnny with an AI version that spreads US propaganda 😆
I work in New Albany, Ohio. The amount of factories and server farms that have come here over the years is absolutely insane. All of the Roads in Columbus are getting widened and paved
So the rustbelt is being revitalized?
I take it jobs are everywhere there ? Good payin jobs ?
IRL ready player one in Columbus!
I live in the same area and can confirm
roads getting widened isn’t a good sign
Company owner in Europe here, at 12:43 - Government incentives are NOT for small or medium companies, but only big corporations. Small and medium companies are still getting shafted. We made the decision 25 years ago to stay in the country and not send the production to china, which would have been better. We remained in the country, with local skilled workers. The government never cared. Never gave back for staying. Now they are giving nice tax incentive to big corporation to come back, but not to small and medium companies that stayed and paid more than their fair share. Government are just scrambling to get production back because Covid showed how dependent they were on china.
You need to bring more smaller companies together to measure your contribution (through software) & lobby govt
smaller medium companis are not as useful to the economy.
Look at Italy.
More than 50% of our business have less than 10 employees and our economy has been stagnant since 2008.
Large industries that can compete and sell on a world or at least European scale are a lot more valuable. Look at the Netherlands with ASML, Philips, DSM, etc... or Germany with BMW, Wolksvage, Mercedes, Siemens, Allianz, DHL, etc...
I'm not even trying to be like that but in the US literally anyone can start a company since the gov. will gladly give you a start up loan. While that does create competition and the drive to become a good company unfortunately a lot of people are looking to be bosses instead of leaders with no business sense. When their business fails then they can go bankrupt and do it all over again.
@@tedmihalca As an anyone in the US I'd love one of these start up loans
"you need to learn to conform to the broken apathetic system."
😶🤨
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success??
“Carol Vivian Constable” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
A refreshing reminder that what fuels the globalization is not really technology, but policy
Harris story really is a little incomplete. The first wave of globalization (1800s) was caused by reduction of transport cost which technology is responsible for. Policy was quite protectionist during this time. The second wave of globalization was a mixture of policy and transport costs.
@@josejulianparra1858little is an understatement.
And these competing policies are exactly why there's no humanitarian progression for all of society.
That's the story of mankind, lol.
@@SSGoatanks
Nah. It's cheap energy. After peak cheap oil, you can't maintain this kind of a system, no matter the policy.
I can’t say enough. Your work shows it all. I knew about these changes happening around but you helped connect the dots.
Wow thank you!! So generous
I mean trump said it for years don’t know why anyone is surprised now
Samsung is a South Korean company@@johnnyharris just wanted to point that out.
@@alexnowicki286 its not that I don’t see highlights, but I didn’t think it this way. Im pretty sure US wont be completely self reliant same as many others. Also I wonder if government will gain more profits from domestic market even though the prices will be much more for general public and if that will be any good than current system
Imagine giving money to cia Harris, on his completely biased video about muh free markets, with a sponsor ad in it and special thanks to Bill Reinsch and CSIS in the description... But hey they say a sucker is born every minute, glad you liked it.
As someone who is involved in global manufacturing and seen this all happen, I am not surprised. All the moving of manufacturing overseas just provided short term gain. The answer is to not take away global trade, it is to make every country play by the same rules. The same health and safety rules. The same minimum wages (edit: min wage I think now is impractical). The same worker's rights etc. Right now, we do not have the same rules and policies in place.
can’t have the same rule for everyone because countries are at different development stages. However, forcing China to play by the same rules would be a start. China plays with its own rules that only benefit itself
We can't even do that among US states, and that's part of the reason that all of this works. For example, if China was forced to use the same minimum wage as the US (to say nothing of the states that have raised MW above that), then there would be no reason to have those jobs in China. We look at China as "stealing" our jobs, but think nothing of the Europeans that are out of work because compared to US labor (even unionized US labor in many cases), their labor is shockingly expensive, so the production occurs here rather than there.
It wouldn’t make sense to give everyone the same wages. First of all, there are so many different currencies, not one central currency used by all. Secondly, the purchasing power of these currencies varies significantly. Thirdly, the cost of living also varies from place to place, sometimes quite drastically. Half of the world’s population lives on less than $5.50 per day.
It's called capitalism.
@cassidyjewel3639 it's all manufactured by humans. We should all be like Star Trek.
Whoever does the graphics is doing a great job! Like the maps with the outlines and the company logos moving around. Stuff like that makes the videos more engaging. I’m sure it’s a lot of work!
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
@@mikegarvey17Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.
*Izella Annette Anderson* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
International relations is notoriously complex. The diplomats, politicians and importantly business people who all have a hand in foreign policies come from different countries and have very different views on how to run their own country. The story you just relayed assumed the whole world was West vs East.
It's only complex because it's layer over layer of relations built on top over the years and these layers overlap other layers.
he’s a WEF schill
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I dont even know where the stock market is headed to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .
I don.t really know your risk tolerance or asset allocation, sounds like just bad stock picking. Also unclear if the advisor is providing any other value via financial planning or other decision making. But likely scenario is just bad stock picks. Index funds, Etfs and chill.
..You should definitely fire yourself ! That's a bad financial advise. Over 50 years of data reveal that those who work with fiduciary advisors typically earn more than those who go it alone. I've been fortunate to work with one for 6 years, resulting in a $3 million portfolio.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
Amber Michelle Smith is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Hence, Europe should reduce its dependence on the United States, especially in military and economic aspects. It's time to revitalize its industries and promote innovation across the board to better compete with nations like the US and China, which have achieved a greater degree of self-sufficiency.
Over here in Germany, we would love to be independent with our military, but we’re literally not allowed to do anything with our military. We’re getting shitted on by the US because we’re not able to defend ourselves in case of a war. But I wanna know what we could do if we’re not allowed to do anything.
All our „working“ stuff goes to Ukraine. I know much of our equipment doesn’t work properly if it works at all. That’s mostly because we have to repair almost everything before we can send anything.
@@Radon_86Increase your military budget? Poland did and they are building the largest military in europe, germany is just cheap and would rather ride the coattails of the US military.
@@Radon_86nah it’s just because you don’t want to pay for it
@@STEP107They can't, they are getting cuked by the USA since '48. Even their economy and government isn't has strong as their could be. I live at the FR-LU-DE border and germany in crumbling since 2020.
@@d0loressk4ze28 Germany "crumbling" since 2020? HA! Sure, Bud. Hope ya ain't an AfDer or worse, a Reichberger! 🤣
Great video Johnny! Two additions: 1. Globalization started in the first place to maximize income for business leaders. 2. One exception: Within Mondragon, a conglomerate of cooperatives in the Basque region of Spain, each employee has one shareholder vote, and the highest paid business leader cannot earn more than nine times the average salary of the cooperative. This might seem a low managers’ income, but this region has kept most of their industries, whereas business leaders in the rest of the Western world moved their production to China and other cheap labor countries to fill their pockets. The Mondragon region has become one of the wealthiest of Europe, with the lowest unemployment, and one of the most stable economies. They must be doing something right!
interesting , I am diving in this rabbit hole later this afternoon , wish me luck.
It is inevitable to happen, private debt ratio is 13:1, Government debt ratio is 140% (approx.). China has stopped selling products to USA 🇺🇸 in return to printed Benjamin Paper. Irony is China is also sinking with supply manufacturing economy for the sake of sustaining expensive western lifestyle. Capital trimming, shrinking Dollar and its associate dollar, Purchasing power(PPP) will reverse from west to East.
Whoa!
Had no idea about this mondragon place. Thanks for sharing!
Guess it's a great setup. American business leaders set up companies in offshore tax havens and outsource manufacturing overseas. They make tons of money and increase income inequality. Hope that ends with this american decision
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Your nice explanation about co-ops which exist in places like Holland , Israel , and the U.K
Is lacking any economical explanations
Sure you can claim they didn't move to China because of their corporative nature (not the 9 times rule) but they need to stay competitive somehow which most industries aren't
So either they are in an industry that is local and never moved to China,
An industry that is protected by the government,
Or an industry that has it's "relative advantage" in Spain/Basque .
Meaning the fact that it's a co-op changed nothing regarding globalization
The standardization of dollar as a "world currency" did not happen after the "horrible" war, it started after Rockfeller started exporting huge amounts of oil and wanted dollars for it which were then based on the silver standard in the 1800s. After that the US tried to impose this system throughout the world and in the Philippines they succeeded and drove the Spanish occupation with a naval conquest in which hordes of Philipino died and colonised Philippines. They tried to do the same to the Chinese but the chinese were very clever and they did not let this happen. Then in 1913 came the wretched "Federal Reserve Act" which basically gave the control of the US dollar in the hands of private banks and their directors and owners started controlling the world. This very critical section was omitted. Also, as a post script about 4-6 months before JFK was killed, he had amended a clause in the Federal reserve act which was the presidential order 11110.
Interesting. You should make a video on this.
Interesting, except England ruled the roost prior to ww2 with it's question gold standard. Petro dollar came about with Nixon shock. Us forced Phillipines to ditch silver for gold under mckinley.
Yes but England ruled the roost but not the US or its market, England basically ruled Asia and trades in Asia and Africa. You should read the book Hidden history of the first world war by Jim McGregor and Gerry Docherty. It gives you a really good perspective of the politco-economic position of Europe and America before the First wirld war and roots of the second warld war. I think you will be surprised at how much is never told. And how basically Germany was coerced into the WW2, they were literally dying and starving. They never lost the WW1 officially, no armstice, it just sort of fizzled out.
The Petroleum industry started basically with standard oil in the US and then the Nobel bros(yes the same ones in the dynamite business) in Azerbaijan. The petrodollar started with the US Saudi Agreement in 1945 not with nixon. But the trade of petrol and federal reserve act and the standardization of dollar on silver or gold predates all this. Yes US did try to make phillipines ditch Silver to gold because they wanted to introduce the standard for currency as gold, which was the standard for dollar then. Effectively demonitizing and devaluating the Silver Peso imposed earlier by the Spanish colonials.@@JK-gu3tl
Private banks already controlled the money supply before 1913.
@@omkarpatwardhan3070”Germany was coerced into WW2” yeah that’s about as much as I expected lmfao
Well, i do have my reservations about the economic crisis. Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $650K portfolio is down by approximately 20%, any recommendations to scale up my ROI before retirement will be highly appreciated.
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Send me some of that; even $100,000 is more than I will have had in my entire life (I die in 490-osh days)
Great video as always, but I wish people would finally understand that individual EU member states cannot have their own trade policies, the entire customs union acts as one. The visuals in this video make it seem somehow like Germany, France and other EU countries are putting in place their own protectionist and isolationist policies, and tariffs, while they simply cannot do that - it's an exclusive competence of the EU. This was also the reason why Brexit needed to happen BEFORE any trade talks started because EU couldn't have trade talks with its own member state. I'm sorry Johnny, but you're a professional and it's been decades since the formation of the EU, it's the world's second largest economy and contributor in trade, so please represent it accurately.
"The European Union (EU) is a customs union, which means that all EU countries are obligated to take the same tariffs and apply the same import restrictions. The EU is therefore represented by the EU Commission in all international trade negotiations and member states cannot negotiate their own trade deals with third countries"
Johnny is not a professional.
I think its not about tariff but more about subsidies put to the industry to make it more competitive. For example, Germany gave a lot of subsidies for car and semiconductors factory building these days. (Tesla, Intel, Infineon etc). Which is another kind of protectionism. Since they distorted the market and gave advantage to themselves.
@@sober17994 Absolutely! The problem lies in how he inconsistently mixes terms to suit his narrative. Subsidized industries aren't a novel concept - take the longstanding rivalry between Boeing and Airbus, or the extensive subsidies in various agricultural sectors, including the dairy industry, where overproduction often leads to product dumping (cough cough what happened during COVID). This demonstrates that many of these industries are not purely market-driven and haven't been in the US for over half a century. However, equating such subsidies with trade agreements and portraying them as groundbreaking, out of the ordinary or revolutionary is misleading. This is not a new strategy; China has engaged in similar practices for years, so has the US, and the EU (and yes in case of the EU those government aids are made on an individual country government basis, correct). But, he makes it seem like somehow Germany is putting up "walls" to protect their industries, which suggest some changes in trade agreements and protectionist policies which are totally up to the EU. The visuals seems to suggest that trade policies are evolving due to rising isolationist ideologies, a claim that is contentious, particularly regarding the EU. While private investment patterns may shift and governments might invest heavily in domestic manufacturing, this isn't a direct critique of foreign policy. It becomes relevant in the context of protectionist measures like tariffs, quotas, or outright bans - evident in the airline industries of the US and Canada, which prohibit foreign companies from offering domestic services. Unlike these examples, the EU, despite subsidizing Airbus, does not employ protectionist tactics within its market or airspace. Therefore, his argument appears sensationalized, attempting to draw unclear parallels between foreign policy, trade, and government-driven economic incentives to portray a picture of "this new scary world", which isn't exactly as revolutionary as he makes it out to be.
@@sztypettto i mean this is his job right? Doesn't that make him professional no matter how bad his videos are?
@@divat10 the word 'job' needs to be revisited. It's not his job. This youtubing activity Johnny does is his own work. Idk if he's registered it as a business, but this work qualifies as self-employed. He has people to help him out as contractors. So he's the owner, who is also an active participant. Doesn't make it a job. Makes it work. Making youtube videos is not a profession, nor is it a professional activity. There is no certification to qualify this trade. It's an independent creation. So, in the legal sense Johnny is an amateur, independent video creator. So, he's not even legally bound to hold the same standards as independent journalists. That means he can post fiction as reality and get away with it.
I fully understand what you meant in your point. But it's important to clarify because people are so accustomed to using blurry semantics, under confused ideas that people are factually just as misinformed and wrong as their perception of China, Russia, Middle East, science, religion, and the special military operation in Ukraine.
a country dominated by lawyers, judges, media, and politicians cannot understand that in order to manufacture something they need to invest heavily to it in the 1st place.
It's weird how you pointed out all of the problems of globalization then seemed really confused why people are shifting away from it. My entire life has been dictated by globalization. My hometown has been in decline my entire life. My already poor family was rocked when my father's factory job was sent to China. Globalization has failed my entire life. It's time for change.
Yeah his opinion on it is entirely based in the fact that no one he knows or loves has been harmed by it.
That's capitalism for you. Enjoy it.
Who's going to change it? Not the people benefiting from it.
It's not China, it's the zionists who control the corporations and wanted to make more profits !!! It's basically capitalism !!! You cannot hv capitalism and NOT end in the decline you mention. Otherwise you end up with a socialist country that takes care of the people.
Globalisation is not to blame, just as AI (once will take our jobs).
Capitalism is to blame. Not saying that communism is the solution, but somewhere there in the middle.
I'm absolutely blown away by the visuals. they're absolutely stunning, they look like they were custom produced for this video. this is award winning level of production
I really hope this bring more Americans out of poverty and we come together to make a change in America itself. We need a change and avoid wars all together
the last time an American said this was delano roosevelt after signing the neutrality act. wonder what happened next
🤔🤔🤨😢😥😭 THE globe has moved on from the USA. Thank god our propaganda media still tells use we are "exceptional". If they didn't...we'd have a total meltdown civil war. If trump or biden remains as prez...nail in the coffin. We live in a bubble in the basement. god bless america!
Wars are when elites disagree, not when the people disagree.
You live in naivity. It is obvious that end of global economy and secularisation by culture (Asian cluster, Europe cluster, muslim cluster etc) leads to wars BETWEEN culters.
Fentanilo everywhere
I love how you displayed the whole thing as if weaponization of economic power is a new thing.
New awareness indeed.
Exactly! Very little is new. I was surprised the way he painted the idea of POLICY as if its some new societal instrument.
The only thing new is the scale, speed and ease of communication which fuelled globalisation
This was a good watch but it's fair to point out that companies were still profitable and didn't pass many of the savings on to consumers. In addition to that, many people also found themselves replacing things more quickly than before the glut of overseas manufacturing. So while prices may have gone down, for many families they'd spend more by having to replace things more frequently. It's also worth mentioning that advanced manufacturing is different from food and similar goods. There's a strategic advantage to making microchips, chemical precursors...in your own country and not relying on another country for those. Even historically, it was rare for a country to trade for all of their food and trading for the majority put them at a huge disadvantage. That said, we'll see if there's a major impact on prices and wages.
It is in a sense !!!
How wouldn't you have feel like, when you're born, say like inStance an Aetis China'nice but world money trade was minus three times but other Aetis country are having world trade money of five times on worldwide globally trade's?
Some people would say, it's just a laughing stock market!
Exactly. The products weren't actually "less expensive." They were more expensive because they were low quality and broke quickly. Many lost their jobs or had to go into low paying jobs and could only afford cheap China crap that broke quick so anything they spent they just bought themselves into even more poverty. That is most of the us population
We are at this change in free trade because we are losing. The idea of a consumer economy is a ridiculous notion. If you don't built it, grow it, or innovate it. You have no value
Great video, beside the slightly misleading title - global doesn´t mean only the US and China, but also the other major players like the EU (which is re-emerging as a united economy), India, Northern Africa and Sub-Saharan Africa.
As a poli-sci major in the 90's, when we learned about globalization, the national security risks were discussed and our professor was quite concerned. Legislators' decisions to accept lobbying contributions and allow our manufacturing base to be outsourced is incredibly self-serving.
And, as the saying goes: You can't put the genie back in the bottle.
And yet, you'd be hard-pressed to find an economist who would tell you that Americans did not, in aggregate, benefit mightily from globalization. It's just that the benefits are much less obvious than the cost, so it's a topic that's rife for populist politics... especially if the area of the country most affected by it tends to be the only one that really matters in Presidential elections. Pander policy is always foolish.
@@tjt5055there are benefits to both. I think there’s more benefit to Americans having jobs, local economies having money and the American economy benefitting more than China or Mexicos.
This means the price of our goods will inevitably go up. But it also means more Americans can afford those goods.
@@tjt5055 Globalization is a unique marvel in human history because it is the first to benefit the world. I travel to "3rd world countries" regularly and it's quite clear that many 3rd-world countries have BETTER quality of life than USA while retaining access to ALL the modern marvels. You would not find that in these places when they were "colonies" or "servant states" like in the past.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living..
Yep! This is basically what happened with the housing market in 2008. Houses should increase in value by 5 to 8% every year. Average houses now are priced 200k above value. When the market goes down, which it will because it’s cyclical, people will either “walk away” or be house poor.
Well put
SCAM!
"...as housing prices decline..." where is that happening?
@@Wermifiedincorrect, the average housing cost currently in the United States is 500k
I saw one short.. went to the channel just to get a feel..
After I read the 5th title, I already got the scope of johnny's brilliance , and subbed 😉
As a Canadian, I think we are just fed up with our government sending money to other countries, while us Canadians are suffering and cannot pay rent. The shift to a more country first approach is the direct result of people who cannot pay their bills.
Canada has enough to do both, but I ask are you willing to see a massive amount more homes built therefore decreasing home value? that's the crux here with most of our wealth in real estate
@@minedgravy380 Yup, I don't see myself owning a house anytime soon, if it stays like this. If the housing market did crash, I think a lot of people, including myself would be happy. But even if it didn't crash, I would love to see new policies implemented to decrease housing costs, like preventing corporation and foreign owned real estate, and even capping people from purchasing more than 2 or 3 homes. That would drastically impact the market and allow 20 to 30 year olds to actually afford a home.
Not saying it's right, but the government sending money abroad is incredibly important to its global strategy, most of the money we send is for loans that have conditions attached to them that end up benefiting us. This is what happens when we send money to the third world. You're right it should end, but this global strategy is very important to the corporate class and is unlikely to end
I'm a Canadian and bought my home at 27. Just saved up and worked hard so waa waa
I thought Canada was a utopia
Wow, thank you for such a well made video Johnny! (as always.) It is quite concerning how delicate our global system is, please keep it up.
Why send he won't notice you
@@tanthaman It's okay to show support for content you like by paying for it.
@@tanthaman that is not the point, it is to support his content.
Part of the reason we are willing to rethink free trade is because quality of living (gross national happiness) has not continued to increase with economic growth.
Very true. In the 60's, people thought we'd have a 10 hour work week by now because we got so good at producing things. Instead, it's just been the rich getting richer.
It's so difficult to measure happiness. I don't take those indexes of happiness seriously.
That is an interesting take. There might be something to it. But if it is true, a mistake is being made here, we are lashing out at globalization and capitalism like they are to blame and we are probably wrong about that assumption.
Things would've been fine if people hadn't become complacent, and parents hadn't taught their kids nonsense like following their dreams.
They developed the attitudes of the rich prematurely, and with shallow thinking.
Free trade itself is fine. Even much of the US in general is fine. But you do have a section that's in poverty.
Sacrificing the country's future (and the future of the world) for the sake of those people though, is funny stuff... Since it's not like they have anything real to offer.
There are no more good jobs like the $5/day "act like a human robot" jobs. Those have been replaced by actual robots.
In the end, earnings are about contributing to others. If you can't contribute well, you don't deserve much.
Weird.. it has in China. I wonder why that isn't the case in beacons of free trade...
While importing can be cost-effective, over-reliance on other countries poses risks due to geopolitical tensions or disruptions. If countries prioritize self-sufficiency, consumer goods' production costs may rise, impacting affordability and potentially slowing economic growth. Striking a balance between global interdependence and domestic resilience is crucial for economic stability.
Only real OG’s remember what happened at 8:30.
😂
I thought my internet was down at first. lol
Even in India
man i thought my internet died lmao
#NeverForget
I think China has been preparing for this for a long time. I read a book called America Against America Paperback - by Wang Huning which was written in the 90's which feels like it was written today.
Wang huning wrote that??. Provide a link please.
The pandemic definitely escalated a lot of these feelings and much of what is happening now could be viewed as an overreaction or as "over correcting" for the perceived scarcity and dependence that was temporarily put on hold during lockdowns.
Geopolitical analyst and expert, Peter Zeihan, has written a bunch of books and given a bunch of talks on this exact topic and it would be really cool if Johnny could do some sort of interview or collaboration with Peter, that would be really great.
Cheers
The lockdowns just exposed existing weaknesses in the global supply chain, we still need to correct those issues or they will happen again and it may not be as temporary next time.
These weaknesses show up every time there is a disaster. Flooding and earthquakes that devastate areas and shut down manufacturing crop up every few years. Tech products like chips, memory, and storage have all run afoul of these situations and bring on fears of being too dependent on foreign producers.
I'm not quite sure Peter Zeihan would be a good fit. To me most of his predictions, expecially in his youtube content, sound extremly sensationalist. His content gives a good impression, on what people are interested in but not much more, sadly.
Always great up to date videos awesome to know and learn.
Economic entanglement is great to prevent wars but catastrophic during a global pandemic when markets go offline overnight. We need a system that allows for independence on critical supply chains but incentivizes cooperation and decentivizes aggressive action. Much easier said than done. This will be painful but necessary.
It isn't even great at preventing wars. Just look at Russia, they are determined to take Ukraine by force no matter how much this damages their economy. Every war ever fought was because the leaders calculated there was more for them to gain than to lose, regardless of what the actual outcome would turn out.
that’s literally socialism
untrue, we need ways to stop a pandemic let markets go offline overnight!
We can understand why people all over the world wanted to do something to prevent another WWI and WWII. Frankly I don't think the economic entanglement theory was all wrong. It actually worked I. Europe and the world has in fact avoided a world war during globalization. The problem seems to arise with countries that have been previous global powers or have global ambitions, they don't give up those ambitions no matter how economically intertwined they get, and once you get into larger technological advantages, it's game over.
I think this video is wrong in some ways, and I think the biggest problem with Harris' video is that it oversimplifies and dramatizes history:
1. The industrial base of the Great Lakes region of the United States has been in continuous decline since the 1960s and 1970s (you only have to look at the historical demographics of Detroit), and in the 1980s the Detroit auto industry was hit hard by the rise of the Japanese automobile industry. So the decline of the Great Lakes was a trend long before Chinese goods flooded the West. The large-scale integration of China's coastal factories into international trade started in 2001, and you can recall that the first time you saw a lot of goods made in China was actually around 2002, not the 1980s as the video says.
2. The so-called free trade was proposed by the Western countries in the era of absolute technological and industrial advantages, because it was easier for the computer room countries to dump goods and obtain labor force to the third world. But China's industrial rise and expansion has broken the Western monopoly on high-tech industries. Chinese cars and mobile phones are being sold all over the world. Chinese-made ships, CNC machine tools and aircraft will also compete with Western products. This is something the United States cannot tolerate. In fact, this kind of trade protectionism happened in 1980-1990 when Japanese industry expanded globally.
Good points but Made in China started getting big in the 1990s. There was already a ton of Made in China goods in the 1990s and that was the same decade Walmart got huge.
This video correctly points out that most of China’s rise came from technology from the west. Who do you think help China build the CNC machines or the aircraft? who do you think is buying all the stuff to fund the expansion of development you clearly don’t know a lot about industrialization.
@@mharley3791 yeah the aristocracy "trickle down" crime syndicate sent their henchmen Nixon and Kissinger to kiss Mao's behind. It was all to get Mao's slave labor force to wipe out Amercan unions and funnel all the money to the tip into the "trickle down" crime syndicate's pockets. The "trickle down" criminals making all the decisions for this country all for their own pockets for the next quarter instead of We the People seriously examining everything and planning seriously for the future, that is the big problem. It's one thing to trade rice or corn. But it's a whole other thing transferring technology. That NEVER should've happened but the "trickle down" criminals were deciding everything and making foolish decisions on these matters. And no one should be fooled by the "reality tv" celebrity master media and bandwagon manipulator silver spoon draft dodging demagogue and trademarks in 🐼 princess the "trickle down" crime is syndicate is using to exploit the problem they themselves caused
Great video as always! But I really think a topic as complex as this deserves at least a 2 part series, which I would love to watch on this channel!
Something tells me this topic will be revisited a couple more times at least..
I came to post the same thing.
This actually secretly is the second part of a two-part series. Part one is called the new Cold War, which I published a few months ago. I hope you enjoy.
@@johnnyharrisalready have enjoyed
Yes, especially how this all relates to the current inflation of prices of goods and services.
You need to go into how Free Trade has also decimated local economies in the global south, especially when it comes to food products. It wasn't a means of world peace, but a means of advancing US domination over global trade, depicting 'thriving', but only under regulations that benefit US political and economic agendas. Also how Globalization is US/ Euro centric, and it is homogenizing culture across the world. As someone who grew up in the global south, the westernized urban lifestyle is now the epitome of success, which leads to the devaluing and abandoning of traditional knowledge, and ancestral life ways that are proving to be essential guide posts for how humans can live ecologically within the boundaries and laws of a finite planet. If every country is trying to become the Consumption monster of the US, we are all fucked. Globalization/ Reaganomics has set this unrealistic and even dangerous standard of connivence and consumption, which is killing the diversity of culture, heritage food crops, ecological diversity, and Global equity.
Can you make a video about the how bedrock structures of our current Market economics are steeped in colonialism and white-supremacy??
"Every thinker puts some portion of an apparently stable world in peril and no one can wholly predict what will emerge in its place." - John Dewey
With insight like that, I wonder what peril Dewey has caused that we have yet to find out lol
I know what is likely to emerge.... War.
Just one thing: Putin did not turn off the pipelines. Europe put sanctions on Russian gas by itself. Then the US blew up Nord Stream. That’s the story. Thank you
this video is full of western bias lol
@@AZANlAThat's such a silly statement. It's like me saying Russian media is full of Russian bias. Like wow?? Who would have thought?!
Answer; not you two, as the propaganda machine has gotten to you two so hard
Think about where you get your news from critically first, before pointing to others. I commend you two for getting news from both sides, that's an amazing first step, but to condemn one side over the other without any consideration is just silly and makes you appear brainwashed
How do you know Putin or
🐼 or someone else didn't take out Nordstream?
If Import taxes were based on how environmentally-, human- and animal- friendly the imported goods were produced, it's not a bad thing. But I agree, when Import taxes are used as a weapon or to isolate each country comes with a lot of boomerang problems.
human greed beats human comfort
19:17, Putin turned off the gas? Wasn't the pipeline destroyed instead?
Johnny I’d love to see you maps developed further as an interactive website meant to help people visually understand these topics and issues.
'Economic entanglement can actually be a weapon '. That is so frightenely true, Johnny.
The weapons that the U.S. uses to bomb other countries are Weapons!
"I mean think about it. Theres absolutely no reason we can't make jimmy sleeves right here in 'murica."
"Yah!"👏👏👏
Mind-blowing video, Johnny thank you. If anyone is interested in how the spread of liberal democracy stagnated and led to rising populist resentment of globalisation, I strongly recommend reading Ivan Krastev’s ‘The Light That Failed’. It takes the psychological perspectives of imitating externally inponsed values on people and their leaders
It’s always been a concern about how fragile the system is. Thanks for clarifying many things Johnny Harris.
The fact that economic entanglement can be used as a weapon is great! That way we have to rely on booms and pewpews only at a much later stage in conflict.
due to the entanglement you refer to, those later stages end up involving a LOT MORE 'booms and pewpews' than they otherwise would. Don't forget that the prelude to both world wars was essentially the same exact idea.
@@KingHalbatorix nukes have put an end to classical wars. we now wage war through economy.
@@KingHalbatorix… or thanks to said economic entanglement it never gets to that. Look at the EUc
The reason, Mr Biden is relative cost of labour, materials, & innovation. There is no way any nations can compete with China on that specifications.
The weblike animation across the globe was awesome ! really helped me follow along and understand the changes to the economy
"No matter where you go, everyone's connected."
- Lain Iwakura
Diffusion and Brownian movement.
Feels good to hear good news about Nigeria 🇳🇬
Sounds like overall bad news for everybody. Back to the days of ICBMs, spies, war readiness and oppressed populations becoming even more desperate. But this time some of Africa might be better off. But then pollution from China is going to get us all anyway, it already started a while ago.
My Inddians ranks 107th in global hunger index which is even lower than some of the p00rest African c0untries
Thought I was the only one. Omo naija hw fr na?
@@animaluchisommicheal7622 I dey o. We go dey alright las las. One love, bro
@@Superpooper-2020 I feel you. Both India and Africa has all the material and human resources to become first world economies. All we need is a brave, wise and strong-willed leader to steer us in the right direction
I feel so fortunate to have found your channel. Your videos give me a greater understanding of what I'm seeing and hearing in real time. Thank you! I appreciate the time and effort you put into your videos! Top notch stuff!
Its amazing that the USA is finally getting its act together to bring back industry instead of shipping it overseas
Where? I see it still going overseas
Its also amazing that goods are manufactured by workers, not grown from shelf. Any industry, ANY, that requires material and factory and works' hand, rarely has a profit rate greater than 10%, which is almost the basic profit rate of financial companies. Unfortunately it is still a sad story
American, Canadian, and European companies are now investing in Mexico. Mexico might become the manufacturer of North America, and it would be a lot cheaper to move your companies factories closer to home in another country closer than having them in China and even Chinese companies are leaving China just so they can have access to the US market at a cheaper rate. Mexico just surpassed China has the US's number one trade partner.
Always here for a Johnny CIA Harris video
gun ctrl bs followed by this wef psyops bs
Yea he seems to have a bias that just coincidentally mirrors that of the US agencies. Just a coincidence though
"Vladimir Putin turned off pipelines that pumped that natural gas into Europe" - that's not quite what happened. They requested to pay in Rubles for the gas. Same as USA requests US Dollars to be used (not via federal laws to be honest).
us blew up the gas pipelines duh
@@TeohLieongChuan that pipe was never operational BTW
This is really complex and it takes a good economist to explain it all. To start, it is at least partly about supply and demand, and competition. We must stay competitive by making higher quality and more cost effective products. It’s not just about moving the factories back. If it costs 2-3x as much for an American worker to produce the same product, the American consumer will pay 2-3x more to buy American, effectively making ourselves poorer. The hope to bring back jobs without making some sacrifice is wishful thinking because there is already another country that could do it better or for less. For this reason, there may not be the demand to buy the more expensive American products except Americans.
The United States endorsed the global economy when it served its interests in assuming world leadership. Nevertheless, as China also started to reap benefits from it, the U.S. concluded that the concept of a global economy was not a favorable idea!
So true, lol. The US is like, “oh shit, we might be number 1 anymore.” But to be honest I would rather have US on top than China.
@@Werdisbondchina will still be on top on usa
And it will be in the coming future
Wether you like it or not
Same for democracy,but still requested the Brits to deport the Chagossians for a U.S military base
14:35 The mystification starts here: the current trade conflict is not truly about protecting workers or the climate. Instead, it is motivated by the cycles of the capitalist economy. Specifically, when it was beneficial for big economic groups to invest in China, they did so. Now, however, these groups are facing competition from Chinese big economic groups, and therefore find it advantageous to start a tariff war. Politics is often a continuation of the economy by other means. As "war is the continuation of policy with other means." Almost all countries are investing in renewable energy and electric cars while also increasing their nuclear arsenal. This is because the ruling capitalist class elites recognize that these initiatives will be central to the future of the global economy, and so they are striving to adapt to this new norm.
The reason is global resource shortage. Critical elements are now in short supply. Take silver for example. According to Silver Institute globally there was a 140 million oz physical silver deficit in 2023. The silver deficit since 2021 wiped out almost 2 decades worth of stockpiles. Remember, modern medicine and almost all electronics require silver. Electric vehicles require a lot of rare elements. Elements which simply aren't as readily available or require too much energy to extract.
Why exactly earlier was it removed???
same question
The global powers are trying to shut down independent journalism
same question... I was half way the video...
video got stuck for 30 seconds on one frame
There was a Paused Gap of +30 Seconds Picture standing still. Failure in Editing
Gosh, the geopolitical explanation is child level.
So freaking simplistic and overlooks many important aspects of everything mentioned.
As the great otto von Bismark said "What we can learn from history is that people never learn from history"
Peter Zeihan( The Accidental Superpower 2014) predicted much of this using analytics & history. Though the timing is a little off because that's the harder part.
Peter Zeihan said globalization was a bribe to the world to fight the Cold War. The Cold War is over and the United States of America is finished paying the bribes.
China used to think it was the most powerful country on earth before it met the white man.
Bro your Animation is something that needed a huge appreciate.
Kudos to the background music editing... 😊 Supports so well the storytelling
When he said putin turned off the Gas supply if made me question the quality of the entire content.
Turn off the gas, USA has no worry but not Europe.
why? He turned off gas deliveries in July 2022. The problem is that while Europe bought 35% of its natural gas from Russia, Russia sold 85% of its gas to Europe. And Russia's revenues depend mainly on the sale of oil and gas. And while Europe quickly found a replacement and prices are now back to 2019 levels, Russia's gas revenues are down by 50% and their national wealth fund is almost depleted.
Russia was economically dependent on selling gas to Europe and now they will need a decade to build a new pipeline to China and even then they will sell less.
....what I lied, russia have never sell so much more oil and gas to India and China. They are selling their oil to U.A.E. Then UAE are selling it back to the rest of the world.
The west is getting kicked out of the new world order. The BRISC+
Europe ....well germany is heavily suffering of a higher energy price right now. Their heavy industries is leaving their country amd the U.S are heavily financing via incentive to get their plant. Ah and u guys bomb northstream 2. Aka CIA
@@tobiwan001 The f**k you smokin' dude? US blew up the Nord Stream. Russia didn't stop the Gas.
This is just really good propaganda. What’s really happening is countries securing their sovereignty. In the current world economy some have to lose so that others may win.
Chip War by Chris Miller is a great read on the history and current state of affairs of the geopolitics with the microchip manufacturing supply chain
"One of the most dangerous phases of self-interest in industry has been the part it has played in bringing about wars between nations." - Kirby Page
Biden's cough 😅
Make sense
That music in the beginning gives off strong Battlefield 3 vibes.
Johny just keep dropping bangers. Thank you for the top-notch journalism.
Better to be thought of as a fool, then to open ur mouth and prove them right.
Well done on Liking the Thing
Is it journalism, or propaganda? I can't tell..
🙌🙌
It happened really fast, it's like we woke up one morning and can't ship our products to China anymore. Of course there are ways around it but what really surprised me was that every single one of our competitors had their own different way of doing it. In the end, it's just gonna make costs go up.
to china? you mean from China?
The west doesn't need to buy a new phone every year. Consumerism is also a big problem. People buy things almost reflexively. Whatever it takes, we must stop China and Russia from becoming more and more powerful. Their goals are not benign whatsoever. They are both authoritarian countries that opress their people.
Of course costs will go up. China had been artificially been putting costs down to make it attractive to invest there. Unfortunately, every Dollar we invest in China's going to the military and the eventual conflict that's to come.
This is a similar strategy on how Nazi Germany had uplifted the lives of ordinary Germans before the start of WW2. Their growth was unsustainable, and they needed the workforce and resources of their invaded countries like Poland, France, North Africa, and the Soviet Union to continue funding benefits to their people and their war machine.
China's case isn't that extreme, but their exchange rate isn't 1:1 where both sides benefit and all the losses are shoved somewhere else.
Tarrifs and protectionism is objectively a good thing
@@Finesse_Les The US is still the second largest exporter of goods and services, there's a lot of stuff that is exported from the US to china that the sanctions effected.
I think Johny is wrong that we can now know that global trade has not reduced conflict between states. Like it's not falsifiable - there's no way to know that a conflict was averted. Like how do we know China/US relations would look if they weren't economically intertwined? Economic interconnection does additional costs to conflict.
And that we would expect rivalry and butting of heads in the trade space should shock nobody. But we shouldn't expect tensions in that space to be bad when it's possible that those tensions in trade is not indications the system is failing, but working. Anybody would rather have a trade conflict than war.
Johnny! We agree with what you are saying in this video; a political leader Argentina is saying what you tell in this video since 2015: his name is Guillermo Moreno. You should study it or talk to him
If our economic connections can be a less harsh step in conflict than military escalation then I think it is working as intended
The US never expected China to grow that fast, just like the Pacific War and the Korean War were different。
For the United States, the Korean War was a small war with no full effort, but for China, the war united China, just as Nixon visited China as a young man, the streets were filled with beggars, prostitutes and starving passers-by。
But when he visited communist China during the Cold War, it was like a little Soviet Union, and the country was still poor but full of discipline。
Great dive into the topic, and I think there's much more to it that you might want to dig even deeper into. Peter Zeihan's last book "The End Of The World Is Just The Beginning" goes over this whole cycle, including a very deep dive into the history of trade and war and civilization forming, and how it all lead to today.
A few key things in addition:
- Human's base state is war. As our tribes grow, they need more resources (which includes people), and the way we tend to get them is conquest. Trade helps to supplant that, but war will always linger in the background. Without security of trade routes and supply lines, they are the most vulnerable to attack. A country losing it's supply lines can spell death for it's people, especially if that country is entirely dependent upon external resources for suppling food and energy to it's people (which a lot of the world is currently). Globalization has allowed countries to flourish in spite of the fact that there are no natural food sources within those countries.
- Post WWII we formed collectively the Bretton Woods agreement with the world. Stabilize trade on the US dollar, anybody that wants to play has to be peaceful with all the others in the group, and the US will not only provide protection for countries in the agreement, we'll also guard the supply lines with our navy. Hence if you want to fully understand the need for our military budgets and investment, look no further. BUT another key reason this happened is it was a way to do a war of attrition with the Soviet Union. The world did not want to jump into another massive war with the USSR post WWII, hence it was better to play the long game against them, and it very clearly worked. Since that's no longer in play, the question is how much longer is the US willing to play ball? BTW this was unprecedented in all of human history!! After major wars the victors would take over and rule, but the United States didn't do that. Instead they did this agreement and created the most prosperous time in all of human history (so far).
- The key reason why globalization has become the behemoth that it has is not necessarily due to policy, but due to ultra cheap shipping! For centuries shipping was the most expensive part of trade! With Bretton Woods, that allowed for the creation of mega-ports and mega-transports as there wasn't a need to spend capital on defense of trade routes and ships! The only reason a single product can span 7 countries to be made is due to how cheap shipping has become (we're talking pennies per item cheap). Now countries can export their specialized labor and resources to the world in terms of "making stuff". Something as simple as a shoe can make 5 hops to 5 different countries before hitting the market for sale. Also Just In Time shipping has allowed globalization to flourish. The shipping industry is the new Swiss Watch of precision in that all parts of a supply chain know exactly when and how much of product they're going to get. This allows for them to stock the bare minimum of what's needed to keep the pipelines moving and making things. It also helps to keep the costs down.... BUT.... and it's a big but!
- You are right in that COVID did expose a weakness in that things we heavily rely upon are so fragmented across the world to make that if anything tosses a monkey wrench into it, we all suffer. Just In Time shipping falls flat if the Swiss Watch breaks down (i.e. part A in the chain is now delayed, which delays parts B, C, and D even more, etc...). BUT... that's only a piece of why countries are starting to pull supply chains inward. Population decline is the other. China is going to lose half of it's population and labor force over the next decade or so. India and much of south east Asia is about a decade behind that. Germany and Britain are in that mix as well. So even if the status quo was maintained in keeping production and supply chains where all are now, there just won't be enough people to actually produce the product! Hence it's safer to bring the critical supply chain and production facilities back within one's borders, or to neighboring countries that are easy to trade with and will maintain population numbers. Along with the other concerns you mentioned about security and such.
It's a fascinating topic, albeit in a dreadful sort of way when you see where we are and where we're headed. There's definitely a lot more to cover on it, which I hope y'all make another video on :)
Containers brought the cost of shipping down a great deal as well.
In 1951, the first purpose-built container vessels began operating in Denmark, and between Seattle and Alaska. The first commercially successful container ship was Ideal X, a T2 tanker, owned by Malcom McLean, which carried 58 metal containers between Newark, New Jersey and Houston, Texas, on its first voyage.
@@dksharronYES!! I totally blanked on pointing that part out as well, great catch!!! :)
I learned about it in another youtube video. @@theelmagoo
@@dksharron Peter Zeihan covers it as well in that book "The End Of The World Is Just The Beginning. If you like digging more into this topic, I personally found it to be a very insightful read on both globalization and human history.
Only legends know this video was re-uploaded
I was driving at the time. What was removed
@@HelloFellowHooman at 8:30 the video stopped for about 40 seconds
(so just an editing error was removed)
Microchips specifically is a strategic decision. We cant pretend that there arent enemies in the world.
Incogni is EXACTLY what I need- thank you! Brexit was one of the biggest shifts for protectionism in the UK, as well as the Ukraine invasion.
Problem with Brexit is the Tories believed the parasitic banker class would invest in the UK, instead the opposite is true 😔
As a counter point, the EU is extremely protectionist and a flagging economy with limited innovation. When goods are cheaper to ship across vast oceans than across shorter distances on land, why should the UK limit itself to a small protectionist block? The EU implements heavy tariffs on goods. Outside the EU, the UK could (theoretically) set up free trade deals with the US and ex commonwealth countries.
But Europe is the closest landmass to the Uk, the supposed alternative would be trading more with countries further away like the US, even though they are an ally they are a country which has imposed tariffs on the UK, like steel tariffs. Brexit ripped the UK out of its local economy within the globe, Europe, which it has obviously had trade links with for thousands of years. It's not the same as the US and China, and its not protectionism against the global economy, clearly the opposite.
@@Theomardell-v1t no it clearly isn't protectionism against the global economy. It may be that it is closer but it's often cheaper to ship things cross oceans than ship things cross landmasses via rail. The distance no longer matters, simply the markets you have access to
@@Jamalanawana surely a hyper capitalist faction would allow for free trade, not have 30% of the housing in inner city London be socially rented housing and not have massive deficit spending whilst increasing taxes?
Maybe you're looking for a different word
Stories aside, this man's storytelling ability is unparalleled.
He didn't tell the true story or even mention the word neoliberalism. The real story of the last half century is the U.S. and IMF destroying economies by forcing them to privatize their economies through what they call structural adjustment programs and starting wars with and placing sanctions on countries that don't go along with this imperialist program. It's good that China and Russia are riding. Enough of the wars and U.S. bullying. Third world countries deserve the right to develop their own economies. I support the BRICS alliance.
I think this both side have a point. You want a global economy where different groups rely on eachother and become partners but not too reliant that the country shutdown during a crisis. Every country should have all basic necessities inside the country to sustain itself. All other things can be added such as luxurious items
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Svetlana Sarkisian Chowdhury is my advisor, You can easily look her up, she has years of financial market experience.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Hi, Johnny ! When it comes to video editing, You are my top inspiration. I am not big fan of politics stuff, but i have watched all your videos to know atleaset 1% of your editing style. And I have also found tons of youtuber's explaining your editing style, Instead of watching their videos, I come up with a request that " why you don't give us tips and trick" of video editing process on your own channel?. I mean when you get board from doing your regular stull, you can share a short of videos about the editing style :). Thank you for posting such an amazingly videos.
When you start losing at your own game, you flip the table, cuss out the winner and smash the board🤣
I am so into watching this type of documentary. Thank you so much Johny! Looking forward to more. Top-notch production! 👏👏
Go through the back cataloge blow your mind these guys are interlectually fucking awesome TH-cam Legends enjoy🎉🎉😊
@@leeargent58 thank you so much for the suggestion! Happy holidays my friend
It's cool, but you're not exactly going to grasp anything with a 20 minute video.
That requires A LOT more research
I'm from Brazil, and from my perspective we see a new world order being formed with the decline in importance of the USA in the face of multipolarism.
Brazil in particular seems more inclined towards the BRICS than towards the Atlantic, although geopolitically, we always end up tending towards the West.
while the West worries about how to please minorities, China continues to dominate the industry with its countless PhDs; Russia continues with its large military arsenal; Arabs and Africans and Indians continue to increase their families.
Faced with a new cold war, we have not yet updated our stance in the face of current challenges
Hey Johnny, I have a Global Political Economy exam tomorrow and this video was a low-key study session lol. Peace and love from Amsterdam
yo update us when you've completed the exam bro. good luck
Good luck mate, let us all know how it goes
tell us your grade
gl
@@Yabois_ good news bro I passed
Connecting economic protectionism to 1930s Germany is a big stretch imo. But I also disagree the government being as hostile to China as they are.
Very true, should be more :V
it's quite a common view to see the creation of the free market in Europe after ww2 as a response to the protectionism that happened during and after the Great Depression. Economic protectionism made it more viable for states to wage total war against one another. Its probably a stretch for the 21st century as China and the US would have little to gain and potentially everything to lose from war but I do think we are seeing a bit of a retrenchment of the nation state and more of a renewal of nationalist competition.
I like you@@Axyr
Thats a really good point. If the goal is protecting jobs that's innocent enough, but if it's autarky that has scarier implications. @@rickchros1919
“Using cheap Chinese labor to become the richest country in the world”
Americans: hell yeah
“Chinese people become wealthy from all the hard labor”
Americans: OH HELL NAH
Globalization by and large bettered lives in very specific areas of globe. It definitely enlarged the purses of big corps.
Unlike many other including India, china used global trade to improve its stature in the world. Which is terrifying former colonialists.
Great video and professional work by Johnny :)