Why China's Millennials & Gen Z Refuse To Work
ฝัง
- เผยแพร่เมื่อ 29 มิ.ย. 2024
- 📈 Get Free Stocks on Moomoo when you deposit $100 (limited time offer): → vincentchan.co/moomoo/
📈 Prepare for the investing day in just 3 min daily → dailymarketbriefs.com
FREE STUFF FROM ME:
💵 Build a wealthier and healthier life in 5 minutes weekly → vincentchan.co/rethinkable/
📈 Prepare for the investing day in just 3 min daily → dailymarketbriefs.com
📚 Learn how to build an income with your TH-cam channel → www.creatorba.com/gettraining
GET FREE STOCKS:
📈 Get 12 free stocks with WeBull → bit.ly/getyourfreestocktoday2
LET'S CONNECT:
📩 Business inquires → vincent@vincentchan.co
👨💻 vincentchan.co
00:00 How did this happen to China?
01:09 But first you need to understand this
04:00 No one expected this to happen
05:57 But then this made it worse
07:24 China's economic nail in the coffin
9:12 Why China's crisis will be terrible for the US and the world
12:25 But there might be a way to stop this...
______
Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions help fund videos like this one.
All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.
Past performance is not indicative of future results. Vincent Chan does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.
📈 Get Free Stocks on Moomoo when you deposit $100 (limited time offer): → vincentchan.co/moomoo/
📈 Prepare for the investing day in just 3 min daily → dailymarketbriefs.com
You can't withdraw from Moomoo after deposit, don't use the Cow named broker. I have been trying to withdraw for over 3 months now. Screw their HK based nonsense.
Because they Find Laying Flat Funner.
There are no "none-private" companies in China.
The CCP is an oligarchy that holds most of the power.
If you become a competitive threat to them they will crush you.
This is standard capitalist economy.
Calling China communist is like calling the British empire communist, because it worked similarly.
Capitalism is an authoritarian ideology.
Democracy is the only thing stopping corporations from banding together and rule the entirety of the society based on corporate principles.
The west is far less capitalist than China, because we allow a none capitalist entity to regulate corporations.
But in China the only thing regulating the economy is the most wealthy corporations.
Either you submit to the CCP or you get crushed.
Mao showed that his marxist-leninist model was complete garbage, so the CCP completely abandoned it for traditional early stage capitalism.
They had to keep up the venire of marxism-lenism-maoism, because Mao and his cultural legacy was legitimacy.
Mao was the national father figure.
This was very much similar to the British empire.
To legitimize capitalism back in 1704 the King lost all his power and became a rubber stamp government.
He just had to put his official seal on everything.
Capitalism birthed constitutional monarchy.
This was since the capitalists and land lords in power was not interested in politics.
They just wanted the wealth and power.
So they pretended to not be in power to not have to struggle to gain the same legitimacy amongst the people as the monarchy.
Here in Australia, we had a trade dispute with China as they suddenly cut off a number of markets to us, wine, lobsters, coal, iron ore, natural gas etc. were suddenly stopped (like 212% tariff on wine) for frivolous reasons as some politicians were wanting a covid inquiry and some had other criticisms of China. We just started opening up other markets like India, Japan, Taiwan, and some other Asian and South American countries as they wanted that stuff as well. Now China has lifted most of the tariffs as they were having blackouts from not having enough coal but Australian businesses have seen that it is better to diversify away from China at the moment. I can't see that changing till the Chinese get rid of god emperor Xi and replace him with a better leader. Xi seems to have lead China into a hole that they keep digging deeper trying to get out of.
因为我们内部的经济出了大问题，对外的经济政策自然会改变
Stop spreading misinformation and disinformation. Blackouts? They have enough electricity for all the EVs.
Blackouts all over CHINA ??? Do yuo know that MANY Coal Plants have been CLOSE down due to Pollution? many are Renewables projects , Nuclear and Gas power station have been build. PLUS ........ RUSSIA has been SELLING tonnes of CHEAP Gas to China.
@@Ra--Amon No, it is because of the current way how China is dealing with the world that the world is getting away from China causing "内部的经济出了大问题".
Yes China has been banning products to influence another country. I think Australia was selling coal to India and then China buys at higher price from India. Australia should sell its coal at a premium to China.
Economist at Beijing Normal University stated that the average pay in China is 2000 RMB or $278 a month. Get out of the first tier cities and you'll see most of China is still a 3rd World country. Their poverty rate in the rural areas is $232 a year, yes a year. 37 years of one child policy means now that in 30 years China will not have enough young people to take care of its older population.
and yet a 3rd world country has a space program haha.
@@brianhillier7052 Just shows how much the government cares about its people doesn't it? Launching rockets in populated areas as well.
@@brianhillier7052 having a space program is not an indication of being a good country. Sweden, Dutch, Singapore, and many others, do not have a space program, that does not make them 3rd world. Having a space program while your own people starve makes you stupid
It’s already happening
it literally has billions of people inside its borders its not easy and the fact that they managed to lift 700MILLION PEOPLE out of poverty(basically all of europe and more than 2 times the us) is already alot in 30 YEARS!!!
As an Asian millennial who lives in the states, the motivation I had right after college is dead to the point I no longer seek a job that pays the most but requires the least amount of my time and energy in exchange for an okay salary.
Same here. Why did this happen?
@@AchiraDasgupta Revolution is inevitable and we haven’t had one in awhile!
@@jon6309 WTF u mean revolution?
@@jon6309 we haven’t had one in a while because people are spoiled and complacent. People who are okay working a mediocre job and making mediocre money are not the people you need to make an actual change or start a revolution. The people who start a revolution are usually people who are experiencing real oppression and/or persecution. NOT apathetic people who just don’t see the point in working anymore because they are dissatisfied with the pay or pace of work.
@jon6309 Why not get a job you like doing?
I got off the rat race too, it was consuming me with stress and no relaxation. No I’m a minimalist and much happier and relax
I make 150k a year, a minimalist and live in a van because the housing market is not affordable
Klaus Schwab: Zehr gut mein friend, zee next step is to eat zee bugs while I keep zee meat
Now repeat with me: I own nothing and I AM happy.
Good luck keeping to that with any kids
@@BuddyLee23haven’t you heard? No one is having kids anymore for this exact reason. Less and less people are having children due the economy, and it’s happening everywhere. Look at South Korea, they have the lowest birth rate right now because people are too busy working 3 jobs that are all 12-14hr shifts for slavery pay. Most of them live in study rooms or apartments smaller than a closet or at home with their parents or with 50 roommates. The US is getting really close to that
@@shae1414it is indeed so🎉🎉
The US has a huge trade deficit with China. This means that a Chinese economic slowdown will have a much greater effect on China than the US. A drop in China's oil consumption leading to a fall in oil prices will be of great benefit to the US. The same is true of many other raw materials. Mexico has become a huge exporter to the US, and trade with Mexico will go a long way towards replacing trade with China. The rest of Southeast Asia is taking up much of the slack in Chinese imports and exports as well. Therefore I disagree with your presumption that China's economic problems will have a catastrophic effect on the US economy.
With Vietnam + India picking up a lot of the slack our east, as well as they honoring IP protections will certainly be of little consequence to the US. With the added effect that Mexico is becoming more important to the US will see that China will hurt a lot more than they will. Everyone was willing to play ball until China got too arrogant with their importance. Now it's no longer worth it.
@@rmmvwI am going to watch this video next. I may need to have faith in MEXICO TO REPLACE CHINA/.
How Mexico is Taking Over China's Manufacturing
The Infographics Show
757K views 1 month ago
@@rmmvwyeah that aged badly . India is importing record from china . Vietnam is now importing everything from china
So fun fact. The whole reshoring didn't work . 😂
@@TywinLannister0fun fact . Mexico is importing more from....... china . Oops
@@rmmvwmake sure India can generate enough power to keep the lights on in those factories. Lol
For those who don't seem to know. 3rd world country doesn't mean it's poor. It means that it was unaligned with either the West or Soviet Bloc. The only reason it is starting to acquire an association with lack of development is due to a massive misunderstanding as to its true meaning.
8:20 and thats why my college had all mechanical engineers learn machine and CNC tooling. As well as how to work around it on the backend. so worst come to worst wed be able to do those jobs but also make full use of the experience to work with them in more theory intensive engineering.
The world: "wow that's alot of unemployment"
PLA:"That's alot of military reserves"
millions of extra soldiers do a country no goo with zero ability to project that force, they are just another burden on resources.
As a Chinese, it's not true,China has a great population ,but just 2 million armed people,we dont's need that much milirary reserver....
China has become such a threat from a geostrategic standpoint, IP theft, threatening our friends that China’s recession is good for the US even in spite of the negative economic implications. Not having to potentially fight a war over Taiwan alone is a major benefit.
Full-time macroeconomists do NOT agree that the rest of the world economy suffers when China's economy suffers. To be sure, the economies of SOME countries do suffer with China's, for example, countries that heavily export commodities to China. But some other countries benefit. I've heard a few macroeconomists say that the US would probably experience a small net benefit overall. Others say the US would experience neither gain nor loss -- a wash, more or less. Likewise for the world economy as a whole minus China's. In short, the rise and fall of China's economy mainly affects China. Note also that these economists don't consider the costs that China imposes on the world through its IP theft and other forms of cheating and unfair competition. Nor do they consider the costs that China imposes on the world through its economic coercion, threats of military force, or disinformation campaigns. When these costs are considered, it becomes clearer that, overall and as a whole, the world outside China benefits as China weakens.
1990. The Economist. China's economy has come to
a
halt.
1996. The Economist. China's economy will face a
hard
landing
1998. The Economist: China's economy entering a
dangerous period of sluggish growth.
1999. Bank of Canada: Likelihood ofahard landing
for
the Chinese economy.
2000. Chicago Tribune: China currency move nails
hard
landing risk coffin.
2001. Wilbanks, Smith & Thomas: A hard landingin
China.
2002. Westchester University: China Anxiously Seeks
a
Soft Economic Landing
2003. KWR International: How to find a soft landing in
China.
2004. The Economist: The great fall of China?
2005. Nouriel Roubini: The Risk of a Hard Landingin
China
2006. International Economy: Can China Achieve a
Soft
Landing?
2007.TIME:Is China's Economy Overheating? Can
China
avoid ahard landing?
2008. Forbes: Hard Landing In China?
2009 Fortune: China's hard landing China must find a
way to recover.
2010. Nouriel Roubini: Hard landing coming in China.
2011. Business Insider: A Chinese
2012. American Interest: Dismal Economic News
from
China: A Hard Landing
2013 Zero Hedge: A Hard Landing In China
2014. CNBC: A hard landing in China.
201 5 Forbes: Congratulations, J You Got Yourself A
Chinese Hard Landing
2016. The Economist: Hard landing looms for China
2017. National Interest: Is China's Economy Going To
Crash?
2020. Economics Explained: The Scary Solution to the
Chinese Debt Crisis
2021. Global Economics: Has China's Downfall
Started?
2022. Cathie Wood: China's COLLAPSE Is FAR Worse
Than Vou Think
Source trust me bro
Who you kidding? If China, US or EU economy falls so does the entire world especially since China is the #1 manufacturer of basically everything to the developed world.
Oh are these the same economists that couldn't see the 2008 recession coming from 100 miles away? Sorry but unless something has changed drastically in the education of economists I don't think they have any better idea of what's going on than your typical crystal ball.
Well said!
Control and growth are mutually exclusive goals.
You made a lot of good points. As an American, though we can’t continue to trade with Eastern economies and run huge trade deficit. It’s catastrophic and it’s ruining our middle class and we’re going deeper in debt to these people whether it is China or Japan Taiwan or Korea they all play the same mercantilist gameof doing whatever is necessary to keep out foreign goods while selling the maximum amount on the foreign market in order to pull in Capital.
1990. The Economist. China's economy has come to
a
halt.
1996. The Economist. China's economy will face a
hard
landing
1998. The Economist: China's economy entering a
dangerous period of sluggish growth.
1999. Bank of Canada: Likelihood ofahard landing
for
the Chinese economy.
2000. Chicago Tribune: China currency move nails
hard
landing risk coffin.
2001. Wilbanks, Smith & Thomas: A hard landingin
China.
2002. Westchester University: China Anxiously Seeks
a
Soft Economic Landing
2003. KWR International: How to find a soft landing in
China.
2004. The Economist: The great fall of China?
2005. Nouriel Roubini: The Risk of a Hard Landingin
China
2006. International Economy: Can China Achieve a
Soft
Landing?
2007.TIME:Is China's Economy Overheating? Can
China
avoid ahard landing?
2008. Forbes: Hard Landing In China?
2009 Fortune: China's hard landing China must find a
way to recover.
2010. Nouriel Roubini: Hard landing coming in China.
2011. Business Insider: A Chinese
2012. American Interest: Dismal Economic News
from
China: A Hard Landing
2013 Zero Hedge: A Hard Landing In China
2014. CNBC: A hard landing in China.
201 5 Forbes: Congratulations, J You Got Yourself A
Chinese Hard Landing
2016. The Economist: Hard landing looms for China
2017. National Interest: Is China's Economy Going To
Crash?
2020. Economics Explained: The Scary Solution to the
Chinese Debt Crisis
2021. Global Economics: Has China's Downfall
Started?
2022. Cathie Wood: China's COLLAPSE Is FAR Worse
Than Vou Think
you already are in huuuuuge debt with them🤑🤑🤑🤑and soon they might fght back through dumping your bonds😁
Where would you build your gadgets? The eastern people are simple and efficient.
China does not follow the rules based order and is diverging further apart and following COVID has demonstrated that it's an unreliable supplier partner, since then the US has restored or friend shores it's market so now Mexico is the biggest exporter to China, Europe will follow suit in a few years, in five years time the operation will be mostly complete, the US has 37 Trillion of total debt, China has 57 Trillion USD total debt on and off books, more than the wider West combined!?!
Is that why America looking into using Mexico as a new China ?
Wow vincent! Ive watched you for a while and you have become an incredibly great speaker! Proud of you!!
This is full of inaccuracies. Watch something else.
Your are a very good communicator. Very easy to understand. Keep up the great work!
Those companies exposed to China are selling components. They are shipping parts to China to be assembled. The demand for the end products is still there. The US will lose a small percentage of the sales, but the impact is pretty good.
We are all connected
China was the employee of the US and Europe, and to a certain extent, South America. Just like in microeconomics, the employees’ financial status doesn’t really affect the employer. China didn’t buy from us as much as they sold/manufactured for us.
I bought many, many Australian products throughout the time China was blacklisting Australia. The US is a solid supporter of former BRITISH colonies. I also have gone out of my way to purchase from India and Canada. And actually, from Britain itself.
Excellent information
You have made some good points but you forget to talk about chinas economic plans. They guide their economy into a certain direction. What types of products to produce, and how much in a certain given time. Of course this video seems like a high value liberal account so i will say this. Chinas first economic plan gave it a huge boost in industry. It was its second plan and great leap forward that halted any progress with the great leap forward. They liberalized with the 5th plan. But this reform and liberalization was structured and had direction. The chinese saw their social welfare ripped from them and wealth ineqaultiy skyrocketted. Under Jiang zemin the government stabilized. And under Hu Jintao many plans of reform and boosting social welfare. Xi would then improve on this more. Its more deeper than more people means more gdp. Chinas economy is planned and calculated
Great informative video, helps me prepare myself for the future
Nice narrative voice. Easy on the ears during commute, good job.
I suspect social media has made people more aware of their dim future.
Yes indeed 🎉😮🎉
Last time I checked China was called "The People's Republic of China". The Key word is "People". Communism is suppose to help the people. I lived in South Vietnam (Communist)for 7 yrs. I built a home their and had a small retail business there too. I think I know a bit more about Communism than the average American. There are no income or property taxes. There are no vehicle registration fees or insurance costs. You have an accident you fight it out.
The "People" in this case means CCP members.
@@Trust_but_Verify fully support ccp and china
Saving this
Last time I checked North Korea was called a "Democratic Republic".
Thats very true. During the ussr there was very little taxation. Most people kept their wages. And prices were stablized
Back in 2010's Millennials were working way too much and not being appreciated for their hard work with low pay. Maybe they are reevaluating their priorities. Way to go! You should have paid your workers and not mistreated them.
A lot of the China derived revenue, most of that is export driven. US goods/IP are used in China assembly of final product which is exported to the final market (EU and US for the most part). So if the assembly is moved to another country, like Vietnam, then there is minimal impact to US firms and final markets, while China burns down.
I hope they will do well, all countries collectively.
Which countries do not have problems right now? However, the US is doing very well, not as what you said.
Considering if China is doing well, why are those thousands of Chinese running away from China and going to the US? Contradicting.
Every country has immigrants. According to the proportion, the proportion of immigrants in China is very low! very low!
Spies destroying usa from within. Also fentanyl and tiktok are chinese made and china is wantong to take taiwan
I think you are mistaken. The problem with youth unemployment is not a mismatch between supply and demand. it is a case of misallocation of resources due primary to the housing market. The bubble in housing has for many years offer a vehicle for Chinese youth, and everyone else to get rich even though we are talking about making more and more ghost cities. This allows a lot of Chinese to get rich and buy Western brands. Once the Chinese government kills the housing bubble, a lot of Chinese people find themselves without a simple, easy, direct way to get rich.
What ought to happen is that as China develops, these "corporate jobs" normally gets created as Chinese people creates brands, and sell it within China, and the rest of the world. The housing bubble instead made a lot of Chinese people rich, and really fast. At the same time, it also made a lot of western brands become really rich as well. This helps western companies create many "corporate jobs" in western countries, but it doesn't really help Chinese at all.
"Supply and demand" is what we need now. Growth is hard. For Chinese to create these "corporate jobs" they need to create their own companies, and develop themselves. They can 't depend on buying western brands. This is punishment for buying western brands, and for creating a bubble that lead no nowhere. We are all better off without it.
A lot of wealth was also created through stock market of public companies in recent decades.
@@Trust_but_Verify The people in China do not really trust it's stock market that's is how much of investing is done in real estate
@@Trust_but_Verify nope . Wealth was created by china .
Way to point out that education does not necessarily, translate to skills. So few realize that.
Forecasting (telling the future) is hard.
Don’t care if it raises prices overseas. It might be bad news in the short term but it’s good news in the long term. Diversifications of supply lines is best for the US.
Hey. America has that same problem. We have a bunch of underskilled "educated" younger people...some of these diplomas out there are a literal joke that someone dumped 80k into😂😂😂
The scale is different
Even the good degrees are worthless. I have a molecular biology yet I ended up in IT. At least I didn't take out too much debt for it.
Laughing at the misery of others, classy
Yeah. That is Funny😂
I've learned not to trust "unemployment rates". Government finagle this with definitions of unemployment. I know the US does this, and I expect the G7 do this generally.
I'd rather hear about labor force participation rates for cross country comparisons.
Nice plant 😉
What was causing the problem in China was the CCP would not get out of the way of the people as the people dont need the CCP but the CCP is in 100% need of the people. When the CCP started to get out of the way of the people of China the people of China where starting to make the money that the CCP was denying them for many decades. If the CCP never got in the way of the people of China then China might have already became the most wealthiest country in the world a long time ago.
the bike is not 150, only the frame in the middle is 150
China had no capitalism now they do, that's the difference. Once they opened their "special economy zones" aka capitalist zones, like Shanghai, their economy exploded.
Best 13 minutes I've spent on TH-cam in a long time. I've learnt so much VincentChan, I almost want to watch the 'American Dream' video now.
This is full of inaccuracies. Watch something else.
Miss you last week Vincent! This is really bad news considering US is not doing so great. Again, great extensively informative video.
thank you!! miss you guys too :)
@@VincentChanthank you!! i got your video on recommend!
@@micosstarall talking points from MSM. Copy and paste while pushing crap to sell you. Lol
This is full of inaccuracies. Watch something else.
How come immigrants both legal and illegal keep coming in US despite of low chance of American dream being realized? Actually. 150,000 Chinese immigrants come to US annually. Why settle in US if there is no hope to succeed? there are other countries to immigrate. Why not in Russia, Iran, Cuba, North Korea or China as a destination?
The fact that you have to compare the US to either third world countries or dictatorships (or both) to make it look good is pretty damning.
@@zackakai5173 US isn't the only country immigrants choose over Russia, China, et. al. They also choose European nations, Canada, and Australia. Not so damning after all, is it? BTW, are there nations out there that are not either 3rd world or dictatorships, other than the first world countries I named? Japan, S. Korea, etc. have fairly restrictive immigration policies...so where else do they go?
because US is a free country!
They come for the freebies, the only country you can illegally enter, stay, and be rewarded for breaking their laws. The us empire is falling.. soon the us will become a second, if not third world nation in no time. The us is the land of the fee, and home of the nave.
so if China is slowing down, doesn't means other economy getting that business? if yes, then other countries economy should offset some of the slow down loss.
He is trying to apply economic theory to the reason China’s economy rose and that is incorrect. China rose because the US decided it would stop fighting China and separate them from the USSR. This was a defacto security alliance that no longer is necessary. Certain politicians still want Chinese support, but it isn’t required for the “western” systems to continue to grow. The US is slowly moving some of its business to India. India could be a much larger catalyst for economic growth than China ever accomplished.
@@chillxxx241List of Countries the US has Bombed Since the End c
WWII
(may be incomplete)
Korea and China 1950-53 (Korean War)
Guatemala 1954, 1960
Indonesia 1958
Cuba 1959-61
Vietnam 1961-73
Laos 1964-73
Belgian Congo 1964
Dominican Republic 1965--66
Peru 1965
Guatemala 1967-1969
Cambodia 1969-1970
Nicaragua 198OS
El Salvador 1980s
Lebanon 1982-84
Grenada 1983
Lebanon 1983, J 1984 (Lebanese, Syrian targets)
Iran 1987
Panama 1989
Iraq 1991 (First Gulf War); 1991- 2003 (US/UK "NO
Fly Zone")
Kuwait 1991
Somalia 1992--94; 2007
Bosnia 1994-1995
Iran 1997
Sudan 1998
Afghanistan 1998
Yugoslavia 1999
Afghanistan 2001--ongoing
Iraq 2003 (Second War--more recently predator
drones)
Yemen 2002, 2009
Libya 1986, 2011
@@chillxxx241that aged like milk . India is business has already destroyed usa businesses
More companies are scaling business away from india due to massive corruption in india .
Your comment didnt work
Yes
@@chillxxx241lol India the country that imports everything from China and cant make iphones because 75% failed the quality test
Chibas problems may cause some supply problems in the short term, less in the medium term and practically none in the long term, COVID affected supply chains and diversification and reshoring is currently taking place!?!
And people wonder why I'm moving to Singapore LOL
I'm quite curious how SE Asia and India will respond to China's change in fortunes. Will these countries take advantage to increase their production, then consumption?
They all are in stock market
Rule #1 to earthlings, don't fight against your nature, embrace it: "greed is good", "people fight to lose lose, the less loser is considered the winner"
?
Shut up.
I once got into it with a PhD (in Chemistry from MIT) who just plain couldn't understand why I insisted the women's liberation mvt was Not a totally good thing for women. I tried to tell him the work force effectively doubled over 10 years. Wages stagnated, especially as the VN war gave us a very inflationary economy. Household budgets couldn't keep up, pushing that portion of the married female population that wanted to be stay at home housewives into the workforce. I guarantee you, there were such people, a great many. Women's Lib. was great for the upper 60% of the female population that had marketable skills, not so great for those that didn't. Of course women should be able to choose. Not the point, which is: ideology can blind people to reality, frequently does, and there are seriously bad consequences when it does. Marxist True Believer's, and the USSR/PRC realities, anyone?
It wouldn't blind you though. 😁
@@beng4647 Not so far, it hasn't. US politics is corrupt, both sides. You, on the other hand....
@@garyguyton7373 You are so fortunate to be the only person aware enough to not be consumed by propaganda.
@@beng4647 ...are fully blind.
What the hell is a Mr. magic lamp?
You are awesome! I never heard anyone squeezing so much misinformation in such a short clip. Respect 👌
That’s not truly ever
I don’t think you realize how even if all 10 of the major China dependent US companies disappeared (which would not happen), that it would barely impact our GDP. In any case, the future is highly AI centric.
5:14 I mean, he still can live a comfortable life while never having to work in his life. Can’t say I feel bad for him
Wait, so if demand falls, prices fall, and wages fall... Why are we in the West having prices go way up, saving go way down, and wages keep getting devalued?
Only 1.06M jobs? That’s a fraction of US total employment. Also if China becomes less competitive, the U.S. can take share in other counties, potentially. Unfortunately the Chinese have shown they can flood the market with cheap “steel” or insert other so a weakened giant can still be a giant. Potentially unpredictable. Interesting next few years ahead. Thanks for the video.
Drop in the bucket, your numbers reinforces the point the impact is manageable . Yes we will impacted, but not enough to be a concern.
True the USA would benefit way more from a weaken world economy it’s like USA catching a cold and the rest of the world been push off a cliff the us recovers and dominates the world economy the rich get richer trues thing ever said so yeah I would be concern at all
GDP: Grossly Distorted Propaganda
NDP: Not Done Properly
Subtract DEPRECIATION from GDP to compute Net Domestic Product, NDP.
But what Depreciation? The depreciation of CAPITAL GOODS. Manufacturing a lot of consumer garbage designed to become obsolete that depreciates rapidly increases GDP but that depreciation is ignored. We have a planet with 8 billion people but economists have been doing algebra incorrectly since the population was 3 billion.
Funny how economists do not talk about the Net Domestic Product.
Do the math but make sure it corresponds to reality.
When America is ‘over-coupled’ (making up a word) with a ‘non lassiez-faire’ centralized economy, this type of situation may arise. It’s a cultural-political-economic difference that has to be regulated for both sides IMO.
Lots of people equals a larger labor pool, he’s right on that, but would it not also provide a higher consumer pool as well?
Having an education is not always a meal ticket. Often the educated can be found flipping burgers. It's how you use your education and develop your skill that will make a difference. As well as how you develop your social and communication skills.
The country is imploding. Deflation is far worse than Inflation.
Not one damn thing you said in this video had anything to do with millennials and Genzie not wanting to work in China
Some how I just knew this is a running dog channel.
Agreed
When he ask "why does china ___?" Just insert "forced labor"
Great video!
Vincent, could you please tell me what devices you use? I mean macbook, ipad, iphone, and so on :).
GDP data in China is grossly distorted. It starts with strict capital controls that keep Chinese savings locked in the country. This allows the big Chinese banks, under the command of the CCP, to continue loaning vast sums of money to the state-owned enterprises (SOE's). In particular, the bad loans on these companies' books are recapitalized rather than written off. And because they are never written off as a loss in the accounting books, they are never subtracted from GDP data as they would be in the US. This explains why Chinese productivity growth is near 0%. It also keeps millions of additional people employed.
I hear that in the USA.
This is great news for Chinese people. It means a single parent working can pay for the well being of the family.
Is it better to be in EU or USA where both parents have to work to keep a roof over thier head and live pay check to pay check.
It has everything to do with the new geopolitical reality that China is in. China is in the critical phase of transitioning from the manufacturing based economy to a research and development based high tech economy, which supposedly would leap the country into one of the wealthiest developed nations if successful. However, China is facing two head winds in this transition: 1. Their high tech high profit margin products are getting blocked from entering the US and European markets in the fear of out competing domestic companies (Huawei and many Chinese EV brands). 2. They are getting blocked from accessing certain techs required for manufacturing critical components in the high tech products (ASML EUV lithography machine to produce 3nm chips). If they can overcome the headwinds, the growth rate will be resumed.
They aren’t being blocked because of fear of being out competed they are being blocked because no one trusts their government.
China has survived thick and thin for thousands of years. I am confident that China will shine again and again.
@@theone8189
Don't be so confident...no one is saying China will not survive.
The question if it wi remain the a global power in terms of economics.
One can survive with his bare life just with is breath, he's not dead, not, he's never the same too.
Times are changing.
You’re behind with your tech news.
Technology is far less of an issue than we thought last year for China.
Love play game
Complex interdependence is a thing
The US shipped its entire manufacturing base to China. That's how it happened. They even make our pharmaceuticals. We're totally dependent on China.
Mexico manufactures a lot of stuff for the US.. not all of it went to China.
@@edgeldine3499 That's true. NAFTA was the final nail in the coffin.
Prices won't decrease
Well, why don't you talk about the fact that the CCP has stopped publishing unemployment numbers and estimates made by think tanks are as high as 47% youth unemployment. You mention that China added on an economy the size of India every year. That might have been true for about a decade in the past. As of now, India's economy is $4T and growing very fast. You have also not addressed the fact that China's GDP is arbitrarily assumed to be whatever number the CCP decides to put out. Estimates based on other methods that are harder to hide or fake, predict that China's true GDP is just $11T, which is less than 3x that of India's and is currently shrinking. I see this more as a propaganda video at this point in time.
I think China has outgrown the CCP and could manage their affairs without it. The problem is political monopolies just don't go quietly into the night. China needs a leader that will transition from one party rule to a more consensus based system. This is all easier said than done.
Teach them skills, then..or create new jobs/ for those areas of study
dan dan😂😂
The main reason is they are not getting paid enough ! Why should you work long hours for low pay?
When jobs that were available in the USA moved to China because of cheap labor the Chinese worker was happy to work for little money because it was better than NO money. This killed USA jobs but it also depressed low value product manufacturing jobs in the USA for low and middle income workers. China might start to feel the same for their lower skilled workers when those jobs flee to other S.E. Asian countries and India. The Chinese were happy to take our jobs and now other low wage countries will be happy to take China`s.There are a lot of Chinese business owners who would rather look for the cheapest labor than pay the workers a living wage without working 60 hours a week. In the Western World any work over 40 hours pays 1 1/2 times their normal wage after 8 hours. Chinese businesses and the Chinese government are treating workers almost like slaves. The laws are anti-worker for the most part. Corruption lets the rich and connected break the laws that are there. The Chinese are "going on strike" by not busting their asses is the only way they can protest. Right?
You overstate China's effect on the U.S.
With the china housing crash there in for a shit show
Bro, didn't you always say the Communist Party would fall? How come it hasn't collapsed after so many years of conflict between China and the US? And the infrastructure and income is getting higher and higher, of course, compared with the developed countries are still far from it, then I take China's first, second and third tier compared with Japan and South Korea, okay? In these cities, college students just graduated about 4,000 yuan, Japan and South Korea is less than 10,000 yuan, Japan and South Korea how many years of development, how many people, China how many years of development, how many people? Of course, China's population is so large that it is not comparable on a per capita basis, but the population of the first, second and third tiers is also larger than the total population of Japan and South Korea, right? According to you, there should be hundreds of millions of unemployed people in China, and the wage drop is a few thousand, I think you are pretending to be blind, right? Take the recent years to represent the past and future development? Brother, the 60s famine, so bitter have not collapsed, now as long as the economy is a little close to the gradual collapse? Basic logic does not make sense ah ......
I am no economist but even I know not to put all your eggs in one basket. The world has been doing just that with China for decades. Decoupling or de-risking might be a good thing in the long run. Now it's time for countries like India, Vietnam, and Mexico to get their piece of the pie...if they get their acts together.
Is video is good
If the younger generations refused to work, how is the country's economy going to improve? They will have youngsters who are lacking in both quality and quantity.
I think there's a misunderstanding here, because the pandemi c happened and a lot of chinese were not allowed to leave their homes. Maybe that had an impact on the employment rate.
It will impact us, but only marginally so. 1M jobs lost is not nearly so adverse to the US as the impact on China has been. They need us much more than we need them.
America only relies on 19% of exports for our Economy , where as China is almost 100% reliance on exports for their economy and GDP . So Chinas collapsing will hurt the US a bit but not that bad but all those companies are relocating to Taiwan, Japan, South Korea, India, Vietnam....
China amazing development never been aeen before in world history!
I don’t have an American dream. I live outside the US. I’m a subject of his Britannic Majesty 🇬🇧😂
Good nothing but curruption I'm every single country
Oh no the mega companies won’t make as much money! Who cares!
Only 7.53 million workers with a college degree out of 1,412 million people? Surely that must be wrong or be 7.53 million graduates per annum.
Maybe the market capitalization of Apple lost 200 billion, but the price of a share of Apple is not above $200 billion.
China doesn’t effects USA that not truly
I don't think NEET was a political term, but i'm open to be corrected.
Well 50% of millenials in the U.S. live with family. Two decades of the government having interest rates low and then the privately owned federal reserve buying 2.7 trillion in mortgages made Wall Street rich and drove real estate higher. But 50% of millennials live with family cause rent and buying is to expensive.
We need a Great Depression or crash to reset things and wipe away bad debt that is inflating asset prices. It’d be great to abolish the privately owned federal reserve that pays Wall Street shareholders 6%.
China maybe struggling but so are millions in the U.S. thanks to the government and Wall Street. Boomers they’re benefiting as they own real estate and mortgages so they benefit from inflation and worker millennials get hurt.
But the U.S. owes 34 trillion in debt but has 150 trillion in unfunded liabilities like social security which will be cut in 2034.
You seem to think that China is all Shanghai and big cities when in reality the vast majority of the people live in extreme poverty just ten miles outside these modern cities.
As someone who lived in China most of my adult life, something a Chinese friend said to me in 2006 was the most significant indicator of the country's health. He said, "We look okay now, we're getting everything we want. But you don't understand we're a country of liars. Eventually we'll become so arrogant that our lies won't work anymore." I thought about that for many years because by 2016 I saw that the people weren't nice at all anymore. I watched as every foreigner I knew leave because they were cheated out of money or lost hope. Maybe Chinese can now taste the reality that the entire world supported you, believed in a partnership with you, but you simply thought we were stupid.
I think you're missing the fact that the foreign investment didn't just disappear, it went elsewhere. The manufacturing and foreign investment went to Southeast Asia, where the middle class is being built up. There will be people to sell iphones and nike shoes to in countries like Vietnam and Thailand. China internally collapsing is probably net neutral for the US, but geopolitically quite favorable. No one wants to see Xi with as much power as he currently wields.
I am not going to abuse children