Isabella Weber, assistant professor of economics at UMass Amherst, discusses her new book on how China managed its transition from central planning to markets
Meritocracy n without big corporations controlling the government are its greatest advantage. It can be truly a government by the people for the people.
Yeah, for the people who are selected to be members of the one party by the one party, representing the interests of the party and benefitting the party through the state-operated monopolies that are allowed to thrive.
@@jamesaitken385 sorry bro totally inaccurate. im an expat living in china, i should know what the truth is. lets just leave it to this. we all hold our opinions n never the twain shall meet. lol.
@@leo3334 Oh, I don't disagree with you at all. I love the CCP! Any system than can lift 200 million people out of poverty in the space of 40 years must be amazing. I mean, I can't think of another system that has managed to bring 15.38% of its population out of poverty in 40 years, can you? And to think only 95,000,000 of those are members of the CCP! No need for opinions, in any case. Facts are better. Truly a government for the people by the people! I love it.
@@jamesaitken385 All i am hearing is that the CCP let poor people join their party and still lifted another 100 million out of poverty anyway. Jesus. People like you really can't help but try to spin a good thing into being a bad thing.
@@jamesaitken385 the beauty of the wonderful two party systems is that whatever party is in power it can and always does, blame the other party every time they fail to deliver on their election promises. Its the perfect neoliberal system, a corporate plutocracy disguised as a democracy. This system in various forms has been the default system of all Plutocratic Empires for at least (documented) 5000 years. Fact is, as a US Senitor has said, we can change the President but we cannot change the policies.
It’s very, very seldom, nowadays, that when China is d topic of discussion n American’s’ or westerner’s were d speakers, one can rest assure, like clockwork, that China will be slandered, demonized n accused of all kind of nefarious things. This Video is a welcome change. D discussion is civilized, serious intelligent questions n very informative n educational, with no obvious attempt to demonized 🇨🇳. It’s as unbiased as it comes. I rate this video, time well spent. 👏👏👏👏👍👍👍👍
A factual discussion is rare these days. Interesting comparison. The USA boasts of numerous brilliant economists but I think and agree with the gentleman that USA has taken 'capitalism' to the extreme and fails to adjust its policies internally to benefit the larger population. Instead, the powerful people chose to look for a scapegoat in China. China is not perfect. She is always learning and I think the strength comes in the collective pragmatism and adaptability of its population whilst maintaining its social focus.
A factual discussion is rare these days. Indeed, because anyone who happened to find anything that is not bad about China to say is automatically categorized by the masses as traitor and must be a paid mouthpiece for China. 🤣🤣🤣🤣🤣
That's such a st....... sorry, what was I going to write? Oh yeah, that's a Countryist comment. Countryism is the next big social justice trend. You mean every single American is poor at learning? Bill Gates seems to learn okay.
The first revolutionaries sent to the countryside were mostly intellectuals, didnt despair but really used their time to study the future economics of the country. Remarkable. This Ms Weber I think is the only writer who ever delved deep into the beginning of the new reforms by Deng Xiao Peng and others.
They are very educated very smart . Did You ever notice that Americans are kept Uneducated to make sure the elite Is On top . looking at Trump i didn't feel so bad Because he never went to school , He learned More how to be a con artist . The people he hired made him what he was today . I think they all took him to the cleaners . His niece claimed He had other people do his work at school . Now is the time to realize he was running the country and had non educated president . In fact he thinks by raising taxes from other countries is going to do better for the country , and Had no idea that Americans will end Up paying for products from other Countries . So who did Trump do better for ? I noticed all the prices are higher In Walmart .
@@tooltalk: You have to catch up to the leading edge first before you can start innovating is the fastest route to improve the country. You already see that in their space efforts on Mars; US can't figure out how they accomplish their latest Mars rover mission which is beyond US capability.
@@tooltalk when China was innovating 500 years ago; most of the countries were not around "innovating". Yes. China might lost its edge in innovating in these 500 years and returned to basics and trying to recovery by copying. But the catching only being achieved in "lightening speed" of human history. Next, most of us might start to copy from the Chinese (BRI, construction... Maths text book in UK). When some countries do that, China would not laugh for the Chinese is a race with maturity. When a person or country said, banning the Chinese from the space program because the Chinese were poor, or perhaps in some colored eyes the Chinese are not smart enough; it only took Chinese 10-15 years to do all that by their own.
@@tooltalk Yes, the Americans will testify to that when they innovated the 1903 Springfield rifle Oh wait, that's a copy of the Mauser. How about the M1 Garand? Oh sorry that's Canadian. How about the M1917 Enfield? Oh sorry, British. The Jet Engine? Oh sorry British. They innovated the Rolls Royce Merlin engine for the Mustang! Oh no, British. They innovated the Moon Rocket! Oh no, that's German. They innovated Jet aerodynamics! Oh no that's again German. They innovated the 155 M1918 Howitzer! Oh no that's French. They innovated the M1918 Field Gun! Oh no, French. Yup, the Americans fully agree that copying is easier than innovating.
CPC politicians who are generally technocrats must have a career from young age and work in remote areas, their achievements are measured by the progress of the region where they are placed. There's no way someone with no experience in politics like Trump could be on the level of a senator or president in China.
Bogus. Trump is a major, and successful, businessman. He also lives in a world where there is an open exchange of views. CCP technocrats live a world of warped incentives. You need to educate yourself and stop admiring the commies.
@@louisgiokas2206 As a businessman, Trump bankrupted his companies six times, and during his presidency, there were many conflicts of interest because he didn't separate his company businesses and as president of the US.
@@hendrang1 Lots of businesses go bankrupt. I have been through on myself. There are many reasons this happens. Many successful businesspeople have experienced this. Many go on to make lots of money. In the business that Trump was involved in, property development, there are lots of situations where a restructuring is required. Just look at China today. The number of property development bankruptcies is rising. One of their biggest, Evergrande, is currently struggling to pay its debts and will probably go under. This is not a restructuring, but a full blown default.
@@louisgiokas2206 What? Trump took numerous loans from his father that was never paid. This amounted to millions and millions of dollars. He even managed to bankrupt a casino. Fred Trump was already a well-known and powerful property magnate long before Donald come into the scene.
The strongest may not survive but those who are adaptable will. This has been observed throughout nature. Pragmatism rules supreme whereas ideology has many limitations. This explains the spectacular rise of China whilst the West has slept for the last 40 years. The West still had and have the colonial mindset and has spent much money and effort on warfare, interference in other countries' affairs and foreign politics whereas the Chinese have worked tirelessly to improve their living standard for the betterment of the present and future generations.
It would depend on what you see as a strength. A nation-state can only be as adaptable as its strength allows them to be. Because every time you want to change there is a wall of hard-line resistance coming from those who benefited from the status quo and don't want to change, not to mention foreign influences as well. How do you deal with them if not with mental fortitude as well as the raw strength to back up your position? China was able to continually change and adapt because it has true strength. No amount of threats from domestic and foreign can waver it.
the past 20 yrs china seems quite willing to do dirty work if all else fails - South China Sea islands, HK and Macau, Taiwan, debt peonage in Africa are a few examples.
@@STScott-qo4pw Hong Kong, Macau and Taiwan are part of China. The name South China Sea means exactly that historically China owned most of it. In the last 20 years the US and the West have done nothing in Afghanistan other than concentrating on the military. In the same 20 years China has built an enormous amount of infrastructure, created employment and improved the living standard in Africa. The so-called "debt trap" is a a misnomer. Chinese terms are far more favourable than those imposed by the West had they lent the money to African nations.
The US could still engage in imperialism lite, China is making those moves. The US Congress bickers to compete to essentially impose economic sanctions on the United States of America.
China was lucky. Ethnic Chinese had already turned Taiwan, Hong Kong and Singapore into economic powerhouses. A lot of families still maintained contact with the mainland. So cross pollination was very much possible. Deng only prepared the fields. You also have to remember, Chinese love trade and business. They have for centuries. They are hardworking, innovative, disciplined with great emphasis on education. Put that mix anywhere and you will get prosperity. They built railroads in US when opportunities at home were few, now they build them at home since it's a good place to be
Malaysia and Indonesia, too, as Chinese in both countries used to power the economies of these two countries till the governments reined in their economic powers into more equitable economic sharing. When you can get rewarded for not working, you also dampened the spirits and drive of those who powered the economies and through the last three decades, the gradual decline (relative to their neighbors) could be discernible.
@@brainwashington1332 lol definitely not by mere luck! 5000+ years of sustained culture gradual growth success and peppered with the usual blips of war... China still stands and is rising back to where its numbers demand it to be! to where it belongs, the most populous with the most spoken language, logic dictates that it should be at the top. If China is a machine then all of its parts are pulling their weight by the numbers alone. This is not luck, this is by design, this is hardwork and belief of the people!
lol definitely not by mere luck! 5000+ years of sustained culture gradual growth success and peppered with the usual blips of war... China still stands and is rising back to where its numbers demand it to be! to where it belongs, the most populous with the most spoken language, logic dictates that it should be at the top. If China is a machine then all of its parts are pulling their weight by the numbers alone. This is not luck, this is by design, this is hardwork and belief of the people!
Thank you Dr. Weber for giving such fabulous talk. I think people should definitely welcome more researches like this that really going in to the history and micro level to present a more nuanced, objective picture of China.
The China miracle starts from people's head: "Practice is the only criterion for truth verification." -- Deng Xiaoping. All theories need to be carried out by the right people with the right way of thinking and the right approach. Contemporary China is a society dominated by the mind set of Science and Engineering, plus historically accumulated Chinese life lessons and philosophy tested and verified over its 5000-year history. Chinese do not blindly follow western economic prescriptions that has not been verified in Chinese context. Chinese approaches new ideas with open-mind (learn), observation (success and failures of others) , small scale experiment ( engineer prototyping ), finally large scale implementation on verified practices. In the end, Science and best practice of engineering win.
Deng Xiaoping is building a new party for a national Bourgeois class of exploiters. Confidence is being placed in the wealthy administrators who are taking the quickest approach to what makes them rich just like the western capitalist. They are headed down the road of capitalism and they are copying the imperialist approach to foreign investment demanding a profitable return for China. Today China says to the poor we only give if you give us back even more. Back down the old road of the landlord and the war lord demanding something for nothing.
@@kimobrien. i guess you missed one of Deng's quotes. "When you open the windows, flies will come in". XJP for that last 8 years have been swating flies
@@calvyncraven1141 How come he didn't put a screen in the window before opening it then? He sounds just as stupid as American politicians. Running a country by quote that's uniquely Maoist.
Isabella, with you exceptional understanding of China and your strong ability to communicate, you are on the path to become a leading academic in your field. I will search out your book. By the way, China in 1980 was quite poor, but its currency was extremely weak, so that one could buy a house in China for $1,000. I’d like to see a PPP comparison which would alter perceptions a bit.
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@@tkomauer China is not perfect, there are a lot of problems, but there are no concentration camps, nor organ harvasting or terror in China. All this is stupid propaganda. Neolibéralism and fake democracy are more destructive than CCP.
@@tkomauer The only organ harvesting confirm case so far happened in the refugee camp, located at the boarder between the US and Mexico, force remove women refugee's womb was confirm, the organ harvesting story telling about China are plenty, but non of them confirm nor has any proven fact.
The 5000 year old history of China was always about the struggle between the wealthy business and aristocratic plutocracy and ordinary people, with the ruling elite playing a decisive role. If the ruling elite was corrupted by bribes and joined the wealthy plutocracy in exploiting the population, the country would be in misery. If the ruling elite or buraucracy worked on behalf of the people, the country would thrive. So this dynamic had been there for thousands of years, and it applies to the rest of the world. It is all about developing a system that brings the very best into the government. Elections that can be manipulated are not the answer, a system of meritocracy and careful selection is China's method for thousands of years and it's worked.
This video was very enlightening, thanks. On another note, one of the first state controlled market economies was in SFR Yugoslavia before USA instigated civil wars. Companies were established and initially financed by state, later given to employees to manage (employees were like share holders, they decided what they wanted to do) but almost all functioned in market economy and only the best could prosper. The failing ones were restructured.
Thanks! This point stands out for me. China knew where it was going and how to get there since the 1980s. China played their hand well. US has not. The difference (IMO) was humility with purpose v. hubris with financialized capital.
“China initially had a soviet-style 40:48 economy but in 1978 a new leader came to 40:53 power in China Deng Xiaoping and he 40:56 analyzed the situation and he concluded 40:58 that the Soviet system is doomed to 41:01 failure and that's of course dangerous 41:04 he concluded for you know for the 41:08 country and it's better to abandon this 41:10 system and instead he looked at other 41:14 countries that had a more successful 41:16 monetary system such as Japan and 41:19 Germany and the US and he concluded well 41:23 we need to decentralize banking and so 41:26 when he came to power 1978 what what was 41:28 the key one of the key things he 41:30 introduced was he found it thousands of 41:34 banks thousands of new banks local banks 41:36 small banks regional banks specialized 41:40 banks all across China and the rest is 41:43 history that's how you get high economic 41:44 growth “ czcams.com/video/OdYmdKUiQNw/video.html&feature=emb_logo
China is NOT capitalist. Finance and large industries are still owned collectively and managed by the state. All enterprises are regulated and sometimes directly managed. India is a capitalist country that won independence around the same time and was coming from similar conditions. The way the Chinese bureaucracy managed the economy has lifted 850,000,000 people out of poverty since the early '90s (that's about 2-1/2 times the entire U.S. population). They eliminated extreme poverty in 2020, and the CC projected that ALL poverty will be eliminated by 2050, at which time there will be democratic reforms, including multi-party elections. This is "socialism with Chinese characteristics," and using this method they have made incredible progress while much of the rest of the world slips backward. The multiracial working class of the U.S. has the potential to save the country from what otherwise looks like decline. So long as the capitalists continue to run the U.S. and much of the rest of the world, they will pursue profit for themselves and ignore social necessities, suppressing the struggles demand them. The working class produces everything of value, along with raw materials from nature. This is not only the reason we should live well, and have dominant political power, it points to a strategic approach to win the things we need and put an end to the things that harm us, in short, the byproducts of the profit system, poverty, war and racial oppression.
@ea huh!.......you're speaking perfectly from the limited perspective of a European racist! Let's remember your history is riddled with predation! One third of it enslaving other Europeans so, it's difficult for you to comprehend a multi ethnic society! China has 54 ethics groups!
@@Jazzmarcel CCP is capitalist with privately owned joint stock companies. Who is managing the enterprises are the books open to the workers? Is the CCP operating out in the open or is it busy giving itself extra privileges. Is it training a communist cadre of workers or new group of privileged officials and billionaire bosses making themselves rich? Sure China has a new working class and that makes it even riper for socialism. So which side is the CCP on?
@@kimobrien. well, if they can lift 850,000,000 people out of poverty thats already miles from what is happening in the states where is moving very quickly in the direction of Brazil on the gini coefficient! Basically a feudal state!
@@kimobrien. China capitalist? The finance sector and heavy industry are completely state owned. Private corporations operate at the discretion of the state. When have you seen capitalists eliminate poverty? If it weren't for the Chinese statistics, we would see the world's poverty rate soaring. The Chinese bureaucracy is managing the economy of a place where the capitalists were expropriated, they're doing what is necessary to raise the standards of living, and when that's achieved they will democratize society. I know it can't be proven, but I think Marx and Engels would salute the Chinese state for its accomplishments.
Isabella, firstly u have a balanced research on How China Avoid Shocks.. that indeed a very apt title that apply to China as one observe the planned economy being constantly realigned in the context of having to engage with almost every market economy of the world.. With a good understanding of the Chinese political, socio economic psychic, points regarding the driving spirit from returning intellectuals after the 1970s, learning from every entities that is better than China at the period especially learning from the Asian Tigers especially Singapore...etc, etc in my opinion thus dialogue has neglected the following points: 1. Regardless of all the current situational hygiene factors n threatening compasses, China has constantly anticipating future Shocks is derived from historical n cultural heritage as a CIVILIZATION STATE. 2. Being an Asian myself, another success factor is Asian cultural inclination to be inclusive n continuous learning especially from your adversaries.. Sun Tze Art of War, teaching American economic text is to understand n avoid its pitfalls base on China own circumstances.. 3. It is a common missing point from Western China Watchers or so called experts to appreciate that it is a dominant culture that Asian try very hard to avoid living beyond its means n save for the rainy days..., thus the the critical pitfalls of most Western developed nations because the past exploitation n imperialism have help to build up a high living standards n a welfare systems that no longer sustainable ,,( so Iso9000 series, carbon foot print , human rights issues are just a few of the agenda to control the growth of developing nation with double standard hypocrisy base on corrupt intent to maintain their Western Collectives status quo to lead the world...of course these eco systems are good in principle but abused by corrupt agenda especially led by US n Anglo Saxon selfish intents..) China with 5000 of civilizations history must formulate its own plans to avoid the repeat of those SHOCKS N HUMILIATION OF TGE PAST 100 YEARS PLUS THE 71 YEARS OF DEMONIZATION, SLANDER N SMEARING, EMBARGO, ENCIRCLE/CONTAINMENT BY WESTERN COLLECTIVES, WHILE China is being branded as " Wolf Warrior Diplomacy, vaccine diplomacy, BRI Debt Trap, Xinjiang Genocide etc, etc but all these just drive China to be more alert to prepare n avoid future Shocks.. ( actually , these Western Corrupt Intents is driving China being more prepared, . ) finally, Isabella, my recommendation for u to write a series of books in terms of how China faces the challenges of past, current n future SHOCKS BOTH INTERNAL N EXTERNAL.. .......THE LOGIC THAT u already have the right amount of attributes to talk about China with the foundation such as : 1. Being a German with its cultural , socio economic experience as an European ( not an Anglo Saxon), which I strongly feel to be more pragmatic n balanced... 2. Having studied in China n having a good network with China in circles 3. Though I have not read your book however base on your discussion.. the book is the good start. 4. Final suggestion, u should try to teach in Chinese universities in order to research the new trending of THINKING OF CHINESE INTELLECTUALS THAT WILL BE ANOTHER ASPECT THAT MAY DRIVE THE FUTURE CHINA SHOCKS FOR BETTER OR WORSE... 👍👏👏 for your narratives about China n hope the rest of China Watchers ( too many is talking non sense ) to learn the more equitable perception on China Rejuvenation( non sense to brand it as China Rise because China n India were used to be the dominant powers ( without killing each other as immediate neighbours ) for centuries more that the 250 years of Western Collectives...that has instituted/manifested the China/India Border Conflict )..
@@kimobrien. indeed, eventually it is just impossible to have either absolute democracy or communism but a shade of hybrids that suit the national life Cycle of each nation.. the critical success factor is the statemanship of the political leaders supported by high percentage of hard working n enlightened citizenry that embraces common good for all instead of too much individualism n capitalism patronage that undermine sharing of prosperity .... Any political system is just a tool with respect to the psychotropic life cycle of a nation that has to constantly review n make adjustment to drive common national objectives to improve overall living standards for the majority ...especially those less privilege with self reliance n bro g competitive.... CHINA HAS UNDERGONE MANY PHASES IF CHANGES WITH GREAT SACRIFICE N PRICE TO PAY, HOWEVER THE CONTINUOUS UP GRADING OF LIVING WUAKITY N STANDARDS HAS GIVEN CONFIDENCE N FAITH TO TRUST THE GOVERNMENT AS PROVEN BY CONTROLLING THE COVID 19 PANDEMIC WITH MUCH SACRIFICE N ORGANIZATION... ...
@@yuanhaochue2889 please do not waste you wisdom on this individual as you assume he is willing to learn from facts. He’s an ideologue that is only here to make trouble
@@sciagurrato1831 appreciate your opinion, indeed, it is very difficult to have a really sincere n genuine Western acceptance of the non-Western tenacity to progress derived mainly from Asian culture for hard work n tenacity to face challenges after more than 300 years if Western Superiority Complex derived from Imperialism n exploitation that was the foundations to achieve their current high standard of living n geopolitical dominance... Nevertheless, my objective is to high light their ignorance as a pass time, while knowing by experience that there were hardly any return comments or "likes" in the Western podcasts that include 100% of popular Western bloggers who are making a living by captivating the bulk of their supporters from Non-European followers, mostly Chinese diaspora.. , indeed 99% pro China comments are from Asian diaspora.. ( I only received 1, the only one appreciation from an Australian Blogger living n working in China as a China CCTV broadcaster.....!), So I enjoy my writing especially to show them it takes a Western Oriented Genes especially a past British colony citizen to have a balanced view point.. eventually those sponging a living using the Chinese emotional sentiment are being constantly scrutinized if ever they losing their sincerity as a global citizen.. Tqvm for your feedback n advise..
True. I think a lot of Westerners have no idea what state China was in 100 years ago and how handicapped the country was with unfair treaties forcing them to pay insane amounts of money AND having territories stolen. The fact that China has managed to stand up again (because of the CPC) to a point that's terrifying the USA...is incredible. They will never let themselves be bullied again.
Russia had a sudden overnight change, that's why it could not handle the shock. While China took its time to carry out gradual orderly change, it's that simple.
Man, you just watched a long and smart thing and then you spontanously decided to make it into a short and stupid comment? It's kinda like watching Romeo and Juliette in full length and then commenting "the dude just wanted to boink the girl. It's that simple."
@@tianwong152 China can not escape the problems of capitalism by changing names. They are already building substandard unoccupied housing for investment purposes.
@@MrPathorock So? Why should I care if China steals "intelectual property of Bill Gates?" He rents a brain and the says anything you think of belongs to him. No different than a Chinese warlord who steals the peasants crop. Take intelectual property of American Bosses. Play video game without paying royalty have fun!!!
People sound really silly when they confuse “economic reform” with “political strategy”. I guess that’s what’s happens when you are a neoliberal technocrat.
China has an economic model that is virtually inimitable, founded on efficiency in all walks of life and on certain cultural norms. On that basis it will always challenge western hegemony which has been the order of the day for decades, perhaps centuries. And that too today in the realm of defense!!
The interviewer ask a question about how the Chinese technocrats come to a decision what is good and right for China. It shows his lack of knowledge that the north east Asian (including Vietnam) countries are steeped in Confucianism philosophy. The main one that stands out that is diametrically opposite to western philosophy is that the general good supercedes everything. This philosophy is alien to the western mind (something from Mars or from the stone age). Take for example, the wearing of face masks during this pandemic. It is for the general good. But in the west they refuse and whine that it infringes on their human right. That's why the west will decline because everybody is only thinking of his own selfish self instead of the general good. My country, like China, is building infrastructures for the next 50 - 100 years.
A wonderful engaging conversation conducted with deep knowledge and seriousness of purpose - which is to understand things as they are and how they came to be. Name check Adam Curtis at about 15m who approaches similar questions in poetic documentaries.
Rational thinking has not a thing to do with nationality. Instead thinking and ideas are closely connected to the way in which people have organised themselves for production. In any epic the dominate ideas are those of the ruling class.
@@cart172 Americans think the can divorce ideas from material conditions and just apply them as they please. This leads to the "well it use to work" so it should still work circularity. Short sighted and simplistic are synonymous with pragmatism. Ignores the material in favor of the ideal and refuse to take into account the interaction of opposites reversals and the how changes in the material conditions are always happening.
A very interesting video. It has opened my eyes to the Chinese approach. Thank you for that. Economics is not my area of expertise and neither is climate but, as someone with a degree in science I can appreciate the dramatic effect that the climate debate is having on the ability of economies to deliver well-being to its stake holders. The problem I have is that when I look at the science, and I have been controlling research teams for much of my career, I can find no evidence that CO2 has any effect on climate! Since the assumption that it does is having dramatic effects on economics, surely we should look at the basic assumption. It is interesting that all the computer models that are based on CO2 have failed to predict the last 20 years of global average temperatures, and, in fact have been grossly wrong! It is also interesting that experts on the effect of CO2 on climate have demonstrated that the current level of CO2 (0.04% of the atmospheric gases) has already absorbed almost all the wavelength of sunlight that is responsible for the resonance of the CO2 molecules, that is responsible for the warming effect. According to Professor William Happer, doubling of CO2 to 0.08% will have a less than 1°F impact on global temperatures. Also, Professor Carl Otto Weiss, an advisor to the German Climate Board, has analyzed all the European temperature records from 1750 till today and all the proxy temperature data from the Antarctic ice cores, which go back hundreds of thousands of years, using a Fourier analysis, which reveals cyclic influences on temperature changes and has shown that there is no effect that is not cyclic, and because CO2 levels gradually declined until the beginning of the industrial revolution and increased after that point, it is not cyclic and therefore does not show up as an effect on climate. If these experts are correct, then we are ruining western economies for no good reason and handing a great advantage to China, which is reportedly building a new coal-fired power station every fortnight or so to drive its economy forward.
Why do the majority of scientists from around the world disagree with your position .? In your opinion these radical changes in temperature and adverse weather events wwhat are the scientific explanation for these events .At a conference on global warming at the UN involving scientists from all parts of the world and at the end of the conference they had a briefing for the the worlds press zeven scientists sat at the podium the lead scientist addressed the press with these words. We are now entering the sixth great extinction .i watched the stony faces of the ather scientists at the table no one even blinked .tthe message seems clear and the tone of the text was obviously arrived at by concenses .so are all these eminent people represent science .dishonest delusional or just plain wrong .your view is the minority and i am open to your positon .but how did it cometo be that the majority of scientists got this so wrong.i would be interested in your comments on this
10 minutes in, and not a word about Milton Friedman's Chicago School or the Washington Consensus. Weird. Might try another 10 minutes before I give up.
Interesting Mr. Soros (New Economic Thinking)reaction ..Ha ha ha ..No one so far I see here understands why NET pays xo much attention to this new book of the lady.
Being poor is bad karma. Thru out Asia, people knew studying (education) is the only mean to elevate oneself out of extreme poverty. However, when one is well off like American, studying can be challenging… there’s no else to beat? What’s the point of elevating one self, when one got there, one can’t just rest a little ? Also hating people are bad karma too. Hating one person can incur really bad karma. Just imagine, Hitler only hate about 8 million assumed Jewish believers. His country was burning in just a few years. So was the Imperial Japanese government, they believed they were the chosen people of Asia, rightful ruler of Asian. Again their country was incinerated in just a few years… American and allies were the one incinerated both of those countries. Therefore, it’s ironic that the American and allies governments and medias forgot that lessons. Hating is a very dangerous thing to do for any people of the Chosen, Exceptionalism, Superior Race or otherwise, either in group or individual. American government and media are doing a great job at mobilizing American public for some hateful agendas. I hope Chinese government media won’t be that thoughtless as well. Being rich and powerful is also bad karma. It transforms one from one’s true nature. Powers corrupt absolutely, the famous American saying. Loving kindness to everyone.
Chinese translate, or explain democracy as make people better(apparently they misunderstood). It is because of their culture, norms and social structure. And nations should be allow to seek their way of living, political system based on that instead of imported from other nations. For example Japan seem to be a successful democracy transformation example, but if you look at the history, there only been once power handover to other party at a very short of time. Do people still consider this as a role model?
The US lost the cold war with the creation of more world market competition. Despite all the hoopla about a new birth of Bourgeois Democracy in the former Stalinist states that didn't happen ether.
No system is perfect, why people forget its the people that is running the system and not that the system determines the outcome. Hence China's model of socialism depends primarily on the quality of their leaders, their capability, their morals and their aspirations to work for themselves or for the people.... Democracy on paper sounds wonderful, until 'money politics' and duo party democracy in the US system that shows its failings, and even other democratic systems around the world with their inability to act cohesively as a nation and being undermine with too many cooks spoil the broth mentality.... As long as China's leaders lead and ensure a majority people first for the people the system works, when power corrupts and cronyism, elitist mentality seems into the system than the system will be going downhill. The big challenge for China is once it achieve a dominant voice in the world what will happen next.
It is foolish to fight China and try to keep them out as the USA does and tries to convince Europe to do the same. Instead the Western countries shall do what the Chinese did, i.e. to study their own society and make conclusions how to improve. The Chinese took the West as given and made its ressources useful for themselves. The West shall take Chinas fast and succesful development as a fact. In this case a prosperous China can play the role of a locomotive for the world economy. It became common use to blame China to buy companies in the West and copying their technology. After WW II US companies had expanded al over the world, so for instance to Germany. It did no harm to Germany's economic development. Quite vice versa. West Germany thus could quickly recover and rebuild no matter that there was a drain of technology and brains from Germany to America after the war. So the successful Chinese development shall not be seen as a thread but as a chance.
The Chinese model of economics: Authoritarianism, bribery, dishonesty, and trickery. The American model of economics: Trickery, bribery, dishonesty, and criminality.
The Americans had it all, and blew it. Remember the good old days? Thirty years ago. The West was triumphant, and western liberalism had won the day, it was the end of history. The Berlin Wall had fallen and a uni-polar world was born. The US reigned supreme. China was insignificant and Russia was moving towards the West with Gorbachev. How could we possibly mess this up? Everything was going our way. The Americans came up with the Washington Consensus. Thirty years later we discover China was the main beneficiary; it went from almost nothing to become a global superpower. Maximising profit is all about reducing costs. China had coal fired power stations to provide cheap energy. China had lax regulations reducing environmental and health and safety costs. China had low taxes and a minimal welfare state. China had a low cost of living so employers could pay low wages. China had all the advantages in an open globalised world. Western companies couldn’t wait to off-shore to low cost China, where they could make higher profits. Western businesses tried cutting costs here, but could never get down to Chinese levels and they needed to off-shore to maximise profit. They gave away decades of Western design and development knowledge in technology transfer agreements. China was a new, fast growing economy compared to the mature, slow growing economies of the West. Investors would be able to achieve better returns in the new, fast growing Chinese economy and this is where the money headed. US investors love China and know it’s the best place to make real money. czcams.com/video/CaELQS5kTso/video.html George Soros, Bill Gates, Warren Buffett, Elon Musk, Jeff Bezos ..... All the cards were stacked in China’s favour.
The history of China is a series of painful revolution, shock therapy. Each new government will try very hard to avoid revolution by adopting evolution and modification for cautious change.
For a Chinese it would be even more intriguing as how China could escape the economic war fair for so long. The establishment in the US must knew that China is going to be a threat in terms of economic dominance yet they've only started the economic war that late. That is fascinating.
Thats Capitalism for you. It was good for the quarterly reports, Long term will be handled in the long term. Let us see if the approach works(again), afterall USA does have an overwhelming advantage.
@@2KSnSLifestyle That sound reasonable, but the premise that economic growth would bring political change, and thus China would embrace liberal democracy, to me doesn't sound logical. If the economic growth actually happened (let's first put ourselves into the shoes of 80's policy maker), then it would actual prove that the political system is effective. And in fact too effective that people are now calling it a miracle, then, why would China change their political system if this system is proven effective? The second question I have is, as Isabella Weber said explicitly in this interview, in all the political papers in China they never hide their ambition to develop an economic system that are capable of producing all what they need, so if you listen carefully, the implicit meaning is that they are aiming at taking over at least some crucial production role of the US, and this has never changed. Thirdly, the constitution already said the CPC will be the only political power in China, why would anyone has any illusion that a western democracy will emerge on Chinese land?
@@ericchang7326 as you noted "the constitution already said the CPC will be the only political power in China, why would anyone has any illusion that a western democracy will emerge on Chinese land?" no kidding. I knew before 1997 the cpc had no intention whatsoever of honouring the Basic Law of HK. Given their actions since I conclude the chinese are generally hostile to pluralist democracy in general, very little worthwhile understanding of parliamentary democracy and procedure, and no use at all for anything western beyond economic possibilities that facilitate the feeding of 1.4 billion people and keep them quiet. I believe the cpc and the chinese as a whole have very little regard for the individual. They want public peace, health, home, school, job and if exceptionally harsh measures are needed to achieve these ends the cpc wouldn't hesitate to exercise brutality. If "nudging" - prices, surpluses, limited private ownership, private for-profit business - can achieve this as well then they seem willing to try these means, too, but they've little interest in western Enlightenment thinking at all.
@@ericchang7326 That's because the West believes their system is universal. Political power and the constitution can be amended. The US constitution contains many amendments. In fact the communist party agreed several times to share power with the KMT right from the beginning, but the KMT refused and tried to destroy the CPC. No one can predict how a coalition government would look like in China. The CPC has repeatedly tried to convince the Taiwan government to cooperate, but Taiwan still refuses. I can see a scenario where the Taiwan government would be given an autonomous region status and govern Taiwan, Russian East and Outer Mongolia as well as the 11 dash line while the CPC governs the rest of China..
True, China is also susceptible to the same economic (natural) laws that the West has been all these past centuries plus other restrictions non-existent for the West (1.4 b aging population to feed、tech blockage from the West such as Wassenaar Arrangement & Paris Cocom、CPC's less stable one-party rule which leaves less room for mistakes、etc), but remember, the Chinese have proven themselves capable of erecting sorely missed infrastructures & churning out endless material (the only factors that ultimately count in a hypothetical/virtual or cyber/fintech world economy) relative to the finite world population; the China Path has trailblazed through endless impossibilities as well as numerous insurmountable mythologies, mirage, scare-crow strawmen, smoking mirrors and forbidden cities... proposed by the almighty Economic academia and the colossal financial titans who have failed to logically explain the China Phenomenon until a much lesser-known economic student Isabella Weber from Germany
That's a China that is entirely in your mind. The real China looks very much like a modern version of industrializing Great Britain, Germany or the US.
@@lepidoptera9337 I'm not getting it. Your statements are too brief and judgmental, and lacking in convincing in-depth analysis, supporting facts, and examples. Please be more specific and illustrate your claims: 1. "a China that is entirely in your mind": why and how, which claims differ from reality? Layout your analysis. 2. real China resembles B b/c it is carrying out the land enclosure, forcing farmers to give up land and experimenting with steam engines? G b/c..., and US b/c...and here is the evidence:
45:00 It's a shame that she only marveled but didn't touch on the comparison bt the $70 billion among China's 203 elites and the mere $6,5 billion among the 535 people in the US's upper echelon.
Capital by nature is greedy. If capital is above and control the government,then the country is doomed. One party country can creat a responsibility government, as no way to push the problems to any others.
talk i cheap - look at what those in power in PRC and USA do to find out which system they prefer. There is only a one-way flow of private wealth from one with no property rights to the other with common law property rights. I know which system I prefer.
regarding the shock therapy, it is an impossible choice for communist party. The reason is simple, such social disturbing will push Communist party into history. All China dynasty change were all caused by diterated society. Communist party understand this very well, publicly talking about this all the time. Whatever happened in the early reforming years were totally a balancing game, try right foot and then left foot. There had always been huge arguments for what to do in next during that period, it was a great struggle.
Bogus. China is about to experience profound shocks in their property and banking sectors. They also are experiencing disruptions in steel and power sectors due to political interference. This refers to their restrictions on Australian imports, which include coal and iron ore. In addition, they are interfering with their own economy by interfering in sectors such as big tech and education. All of this happened after, I expect, the author wrote the book. This is sometimes referred to by the term "Overtaken by Events (OTE)". So, old news. In addition, economic figures from China are not trustworthy.
Your comment is shallow and filled with falsehood. You can leave now. You don't know China. Go see Gordon Chang. He did his slandering better than yours.
@@blackknight4996 So, you are the expert. Have you heard of Erergrande? Have you seen the videos of massive apartment blocks being destroyed because they have stood uncompleted for over 10 years? You are ignorant of the situation, and it is you who should leave. Who are you anyway ? You hid behind a false name. Get some education before you decide to male judgments, or, better yet, leave the the scene.
@@louisgiokas2206 Go and join Gordon Chang. He predicted China's collapse for over 20 years and he is waiting eagerly. If you can join him both of you can wait till you both enter the coffins. It's Evergrande...恒大 Learn the right spelling. It's embarrassing.
@UCmkcrfvkrvrsY7CDR7zQiXw I have been following this for over 40 years, both in China and the rest of Asia. You are the one who needs to educate yourself. China is undergoing a demographic catastrophe. They are also undergoing a decoupling from the rest of the world. This will end badly for China. George Bush once asked a Chinese premier what his most pressing problem was. The answer was finding 40M jobs per year. Well, how is that going? China is tearing itself apart. They tried to be both capitalists and communist. You cannot be both. China still has over 600M people in poverty. They have the highest wealth inequality in the world. Is this the socialist utopia? Rich Chinese, including the Communist elite, are stashing money overseas. The system is corrupt and is x=crashing.
@@blackknight4996 Saying you can leave now is a totally inappropriate comment. You don't have to agree with me, after all we are expressing opinions here. You also assume you know more than me and that your opinions are more valid. How do you come to that conclusion. That is insulting and stupid. Who made you dictator? And how do you know what I know about China? Feel free to disagree with me, but don't presume that your opinion is valid. As for China, and all their supposed experts, if you look at what is happening now, and the policies they are following, and still think they are somehow experts, then you have no idea.
How China avoided neoliberal shock???? Because it was never the intention. As well, because American- European stooges weren’t at the helm in China as in everywhere else, including Russia (the drunk idiot who was installed by the West after Gorby, I can remember his name). I insist, analyzing economics independent from politics is an exercise in futility.
I'm sorry I can't bear to listen to her, it's hard. in in in em em em of of of of is is is who who who and and and from from from a a a that that that for for for the the the, she should learn to slow down a bit and stop repeating word again and again and again so many times, instead just stop and think for a second. like the interviewer for example.
Wow, such a pleasure to listen to intelligent, well informed and unbiased discussion on the evolution of China's economy and policies. Thank you!!!!!
Meritocracy n without big corporations controlling the government are its greatest advantage. It can be truly a government by the people for the people.
Yeah, for the people who are selected to be members of the one party by the one party, representing the interests of the party and benefitting the party through the state-operated monopolies that are allowed to thrive.
@@jamesaitken385 sorry bro totally inaccurate. im an expat living in china, i should know what the truth is. lets just leave it to this. we all hold our opinions n never the twain shall meet. lol.
@@leo3334 Oh, I don't disagree with you at all. I love the CCP! Any system than can lift 200 million people out of poverty in the space of 40 years must be amazing. I mean, I can't think of another system that has managed to bring 15.38% of its population out of poverty in 40 years, can you? And to think only 95,000,000 of those are members of the CCP! No need for opinions, in any case. Facts are better. Truly a government for the people by the people! I love it.
@@jamesaitken385 All i am hearing is that the CCP let poor people join their party and still lifted another 100 million out of poverty anyway.
Jesus. People like you really can't help but try to spin a good thing into being a bad thing.
@@jamesaitken385 the beauty of the wonderful two party systems is that whatever party is in power it can and always does, blame the other party every time they fail to deliver on their election promises. Its the perfect neoliberal system, a corporate plutocracy disguised as a democracy. This system in various forms has been the default system of all Plutocratic Empires for at least (documented) 5000 years.
Fact is, as a US Senitor has said, we can change the President but we cannot change the policies.
It’s very, very seldom, nowadays, that when China is d topic of discussion n American’s’ or westerner’s were d speakers, one can rest assure, like clockwork, that China will be slandered, demonized n accused of all kind of nefarious things. This Video is a welcome change. D discussion is civilized, serious intelligent questions n very informative n educational, with no obvious attempt to demonized 🇨🇳. It’s as unbiased as it comes. I rate this video, time well spent. 👏👏👏👏👍👍👍👍
A factual discussion is rare these days. Interesting comparison. The USA boasts of numerous brilliant economists but I think and agree with the gentleman that USA has taken 'capitalism' to the extreme and fails to adjust its policies internally to benefit the larger population. Instead, the powerful people chose to look for a scapegoat in China. China is not perfect. She is always learning and I think the strength comes in the collective pragmatism and adaptability of its population whilst maintaining its social focus.
A factual discussion is rare these days. Indeed, because anyone who happened to find anything that is not bad about China to say is automatically categorized by the masses as traitor and must be a paid mouthpiece for China. 🤣🤣🤣🤣🤣
Spot on n a balanced view of China ..
@Nᴇᴡ Eᴄᴏɴᴏᴍɪᴄ Tʜɪɴᴋɪɴɢ what do u mean by that
"Never stop learning""that is what the Chinese say and do all their life. While Americans are poor at learning and keep forgetting!
That's such a st....... sorry, what was I going to write? Oh yeah, that's a Countryist comment. Countryism is the next big social justice trend. You mean every single American is poor at learning? Bill Gates seems to learn okay.
@@jamesaitken385 More and more poor, that's the tangent.
@@jamesaitken385
Peanut farming has nothing to do comparing to the pig farming these are two totally different things.
👍we've been told by teachers and parent at childhood that "学无止境" which mean "never stop learning"😊
Hahahaha, so right. Some people don't look back to history.
I sure hope this book will be available in audio format on Audible. It would reach a larger audience that way.
The first revolutionaries sent to the countryside were mostly intellectuals, didnt despair but really used their time to study the future economics of the country. Remarkable. This Ms Weber I think is the only writer who ever delved deep into the beginning of the new reforms by Deng Xiao Peng and others.
Chinese loves to learn and they can learn quickly. After learning, they try play better
They are very educated very smart . Did You ever notice that Americans are kept Uneducated to make sure the elite Is On top . looking at Trump i didn't feel so bad Because he never went to school , He learned More how to be a con artist . The people he hired made him what he was today . I think they all took him to the cleaners . His niece claimed He had other people do his work at school . Now is the time to realize he was running the country and had non educated president . In fact he thinks by raising taxes from other countries is going to do better for the country , and Had no idea that Americans will end Up paying for products from other Countries . So who did Trump do better for ? I noticed all the prices are higher In Walmart .
catching up (by copying) is much easier than innovating.
@@tooltalk: You have to catch up to the leading edge first before you can start innovating is the fastest route to improve the country. You already see that in their space efforts on Mars; US can't figure out how they accomplish their latest Mars rover mission which is beyond US capability.
@@tooltalk when China was innovating 500 years ago; most of the countries were not around "innovating". Yes. China might lost its edge in innovating in these 500 years and returned to basics and trying to recovery by copying. But the catching only being achieved in "lightening speed" of human history. Next, most of us might start to copy from the Chinese (BRI, construction... Maths text book in UK). When some countries do that, China would not laugh for the Chinese is a race with maturity. When a person or country said, banning the Chinese from the space program because the Chinese were poor, or perhaps in some colored eyes the Chinese are not smart enough; it only took Chinese 10-15 years to do all that by their own.
@@tooltalk Yes, the Americans will testify to that when they innovated the 1903 Springfield rifle Oh wait, that's a copy of the Mauser. How about the M1 Garand? Oh sorry that's Canadian. How about the M1917 Enfield? Oh sorry, British. The Jet Engine? Oh sorry British. They innovated the Rolls Royce Merlin engine for the Mustang! Oh no, British. They innovated the Moon Rocket! Oh no, that's German. They innovated Jet aerodynamics! Oh no that's again German. They innovated the 155 M1918 Howitzer! Oh no that's French. They innovated the M1918 Field Gun! Oh no, French.
Yup, the Americans fully agree that copying is easier than innovating.
CPC politicians who are generally technocrats must have a career from young age and work in remote areas, their achievements are measured by the progress of the region where they are placed. There's no way someone with no experience in politics like Trump could be on the level of a senator or president in China.
Bogus. Trump is a major, and successful, businessman. He also lives in a world where there is an open exchange of views. CCP technocrats live a world of warped incentives. You need to educate yourself and stop admiring the commies.
@@louisgiokas2206 As a businessman, Trump bankrupted his companies six times, and during his presidency, there were many conflicts of interest because he didn't separate his company businesses and as president of the US.
@Nᴇᴡ Eᴄᴏɴᴏᴍɪᴄ Tʜɪɴᴋɪɴɢ What?
@@hendrang1 Lots of businesses go bankrupt. I have been through on myself. There are many reasons this happens. Many successful businesspeople have experienced this. Many go on to make lots of money.
In the business that Trump was involved in, property development, there are lots of situations where a restructuring is required.
Just look at China today. The number of property development bankruptcies is rising. One of their biggest, Evergrande, is currently struggling to pay its debts and will probably go under. This is not a restructuring, but a full blown default.
@@louisgiokas2206 What? Trump took numerous loans from his father that was never paid. This amounted to millions and millions of dollars. He even managed to bankrupt a casino. Fred Trump was already a well-known and powerful property magnate long before Donald come into the scene.
She is brilliant and has gravitas. Congratulations!
Very happy to listen to this conversation with highly educated ppl.
The strongest may not survive but those who are adaptable will. This has been observed throughout nature. Pragmatism rules supreme whereas ideology has many limitations. This explains the spectacular rise of China whilst the West has slept for the last 40 years. The West still had and have the colonial mindset and has spent much money and effort on warfare, interference in other countries' affairs and foreign politics whereas the Chinese have worked tirelessly to improve their living standard for the betterment of the present and future generations.
It would depend on what you see as a strength. A nation-state can only be as adaptable as its strength allows them to be. Because every time you want to change there is a wall of hard-line resistance coming from those who benefited from the status quo and don't want to change, not to mention foreign influences as well. How do you deal with them if not with mental fortitude as well as the raw strength to back up your position?
China was able to continually change and adapt because it has true strength. No amount of threats from domestic and foreign can waver it.
the past 20 yrs china seems quite willing to do dirty work if all else fails - South China Sea islands, HK and Macau, Taiwan, debt peonage in Africa are a few examples.
@@STScott-qo4pw Hong Kong, Macau and Taiwan are part of China. The name South China Sea means exactly that historically China owned most of it. In the last 20 years the US and the West have done nothing in Afghanistan other than concentrating on the military. In the same 20 years China has built an enormous amount of infrastructure, created employment and improved the living standard in Africa. The so-called "debt trap" is a a misnomer. Chinese terms are far more favourable than those imposed by the West had they lent the money to African nations.
The US could still engage in imperialism lite, China is making those moves. The US Congress bickers to compete to essentially impose economic sanctions on the United States of America.
Yep, that's why I think debating whether China is capitalist, socialist or communist is a waste of time
The professor really knows the subject in its various aspects and able to explain very well. Thank you very much for having her on.
Brilliant and unbiased analysis. 👍👍
China was lucky. Ethnic Chinese had already turned Taiwan, Hong Kong and Singapore into economic powerhouses. A lot of families still maintained contact with the mainland. So cross pollination was very much possible. Deng only prepared the fields. You also have to remember, Chinese love trade and business. They have for centuries. They are hardworking, innovative, disciplined with great emphasis on education. Put that mix anywhere and you will get prosperity. They built railroads in US when opportunities at home were few, now they build them at home since it's a good place to be
Malaysia and Indonesia, too, as Chinese in both countries used to power the economies of these two countries till the governments reined in their economic powers into more equitable economic sharing. When you can get rewarded for not working, you also dampened the spirits and drive of those who powered the economies and through the last three decades, the gradual decline (relative to their neighbors) could be discernible.
Not merely luck, the Chinese, like the Jews understand that to make our people great, we have to first make the nation of our origin great again.
Luck? as in by chance? Happenstance? By happy accident? China shouldve bought the Eurolotto!
@@brainwashington1332 lol definitely not by mere luck! 5000+ years of sustained culture gradual growth success and peppered with the usual blips of war... China still stands and is rising back to where its numbers demand it to be! to where it belongs, the most populous with the most spoken language, logic dictates that it should be at the top. If China is a machine then all of its parts are pulling their weight by the numbers alone. This is not luck, this is by design, this is hardwork and belief of the people!
lol definitely not by mere luck! 5000+ years of sustained culture gradual growth success and peppered with the usual blips of war... China still stands and is rising back to where its numbers demand it to be! to where it belongs, the most populous with the most spoken language, logic dictates that it should be at the top. If China is a machine then all of its parts are pulling their weight by the numbers alone. This is not luck, this is by design, this is hardwork and belief of the people!
Very refreshing to see a thoughtful discussion on China. Talks like this are getting harder to find those days.
I so enjoyed your none biased discussion. Thank you.
Keep up the great work.
Well done Prof Weber: Tying the knots between Chinese Political History and evolution/understanding of economics and market reforms in China.
Thank you Dr. Weber for giving such fabulous talk. I think people should definitely welcome more researches like this that really going in to the history and micro level to present a more nuanced, objective picture of China.
The China miracle starts from people's head: "Practice is the only criterion for truth verification." -- Deng Xiaoping. All theories need to be carried out by the right people with the right way of thinking and the right approach. Contemporary China is a society dominated by the mind set of Science and Engineering, plus historically accumulated Chinese life lessons and philosophy tested and verified over its 5000-year history. Chinese do not blindly follow western economic prescriptions that has not been verified in Chinese context. Chinese approaches new ideas with open-mind (learn), observation (success and failures of others) , small scale experiment ( engineer prototyping ), finally large scale implementation on verified practices. In the end, Science and best practice of engineering win.
Deng Xiaoping is building a new party for a national Bourgeois class of exploiters. Confidence is being placed in the wealthy administrators who are taking the quickest approach to what makes them rich just like the western capitalist. They are headed down the road of capitalism and they are copying the imperialist approach to foreign investment demanding a profitable return for China. Today China says to the poor we only give if you give us back even more. Back down the old road of the landlord and the war lord demanding something for nothing.
@@kimobrien. arrant nonsense .
@@kimobrien. i guess you missed one of Deng's quotes. "When you open the windows, flies will come in". XJP for that last 8 years have been swating flies
@@calvyncraven1141 How come he didn't put a screen in the window before opening it then? He sounds just as stupid as American politicians. Running a country by quote that's uniquely Maoist.
@@kimobrien. lol. You are a joke. 😏
Isabella, with you exceptional understanding of China and your strong ability to communicate, you are on the path to become a leading academic in your field. I will search out your book.
By the way, China in 1980 was quite poor, but its currency was extremely weak, so that one could buy a house in China for $1,000. I’d like to see a PPP comparison which would alter perceptions a bit.
The economy hardship, recession, unemployment and loss of job caused by covid pandemic is enough to push people into financial ventures.
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Can you imagine people stomping across the country without infrastructure? Yeah it’s called india
But no organ harvesting, concentration camps and terror. The CCP is a terror organisation. It is not an legal government.
@@tkomauer it's not difficult to sense your jealousy!!!!
@@tkomauer You ARE right....there's no no no and no organ harvesting, concentration camps and terror......wrong country :-)))
@@tkomauer China is not perfect, there are a lot of problems, but there are no concentration camps, nor organ harvasting or terror in China. All this is stupid propaganda. Neolibéralism and fake democracy are more destructive than CCP.
@@tkomauer The only organ harvesting confirm case so far happened in the refugee camp, located at the boarder between the US and Mexico, force remove women refugee's womb was confirm, the organ harvesting story telling about China are plenty, but non of them confirm nor has any proven fact.
The 5000 year old history of China was always about the struggle between the wealthy business and aristocratic plutocracy and ordinary people, with the ruling elite playing a decisive role. If the ruling elite was corrupted by bribes and joined the wealthy plutocracy in exploiting the population, the country would be in misery. If the ruling elite or buraucracy worked on behalf of the people, the country would thrive. So this dynamic had been there for thousands of years, and it applies to the rest of the world. It is all about developing a system that brings the very best into the government. Elections that can be manipulated are not the answer, a system of meritocracy and careful selection is China's method for thousands of years and it's worked.
Very good talk, fair views, highly appreciated
Isabella is a great researcher and am anxious to read her book.
You mean eager not anxious dont you?
@@donnachua2572 Yes. Thanks for the correction
Very knowledgeable and objective discussion. Lucky to chance upon this channel.
Very intelligent and perceptive analogy.....great
Excellent dialogue, Very inspiring！
This video was very enlightening, thanks.
On another note, one of the first state controlled market economies was in SFR Yugoslavia before USA instigated civil wars. Companies were established and initially financed by state, later given to employees to manage (employees were like share holders, they decided what they wanted to do) but almost all functioned in market economy and only the best could prosper. The failing ones were restructured.
Believe it or not, this is exactly what Huawei is practicing.
Thanks! This point stands out for me. China knew where it was going and how to get there since the 1980s. China played their hand well. US has not. The difference (IMO) was humility with purpose v. hubris with financialized capital.
“China initially had a soviet-style
40:48 economy but in 1978 a new leader came to
40:53 power in China Deng Xiaoping and he
40:56 analyzed the situation and he concluded
40:58 that the Soviet system is doomed to
41:01 failure and that's of course dangerous
41:04 he concluded for you know for the
41:08 country and it's better to abandon this
41:10 system and instead he looked at other
41:14 countries that had a more successful
41:16 monetary system such as Japan and
41:19 Germany and the US and he concluded well
41:23 we need to decentralize banking and so
41:26 when he came to power 1978 what what was
41:28 the key one of the key things he
41:30 introduced was he found it thousands of
41:34 banks thousands of new banks local banks
41:36 small banks regional banks specialized
41:40 banks all across China and the rest is
41:43 history that's how you get high economic
41:44 growth “
czcams.com/video/OdYmdKUiQNw/video.html&feature=emb_logo
Brilliant, thank you.
China’s success shows the difference between a political system run by intellectuals/engineers and big business/politicians.
Learn from the past, learn from our own mistakes and others.... those are the things that we have been taught in the blood, as a Chinese.
Thank you for make such reflections available 🌹
Good Job and Support ! Bravo to China Rise Peacefully and be Strong !
Is there an audiobook version? Please!
The scale of corruption in Malaysia ... and a lot of other east asian countries... is sad.... but that is the nature of democracy.
China is NOT capitalist. Finance and large industries are still owned collectively and managed by the state. All enterprises are regulated and sometimes directly managed. India is a capitalist country that won independence around the same time and was coming from similar conditions.
The way the Chinese bureaucracy managed the economy has lifted 850,000,000 people out of poverty since the early '90s (that's about 2-1/2 times the entire U.S. population). They eliminated extreme poverty in 2020, and the CC projected that ALL poverty will be eliminated by 2050, at which time there will be democratic reforms, including multi-party elections. This is "socialism with Chinese characteristics," and using this method they have made incredible progress while much of the rest of the world slips backward.
The multiracial working class of the U.S. has the potential to save the country from what otherwise looks like decline. So long as the capitalists continue to run the U.S. and much of the rest of the world, they will pursue profit for themselves and ignore social necessities, suppressing the struggles demand them. The working class produces everything of value, along with raw materials from nature. This is not only the reason we should live well, and have dominant political power, it points to a strategic approach to win the things we need and put an end to the things that harm us, in short, the byproducts of the profit system, poverty, war and racial oppression.
@ea huh!.......you're speaking perfectly from the limited perspective of a European racist! Let's remember your history is riddled with predation! One third of it enslaving other Europeans so, it's difficult for you to comprehend a multi ethnic society! China has 54 ethics groups!
@ea complete rubbish!........what were witnessing is the fast approaching end Western mafia states and covid19-84 won't save you!
@@Jazzmarcel CCP is capitalist with privately owned joint stock companies. Who is managing the enterprises are the books open to the workers? Is the CCP operating out in the open or is it busy giving itself extra privileges. Is it training a communist cadre of workers or new group of privileged officials and billionaire bosses making themselves rich? Sure China has a new working class and that makes it even riper for socialism. So which side is the CCP on?
@@kimobrien. well, if they can lift 850,000,000 people out of poverty thats already miles from what is happening in the states where is moving very quickly in the direction of Brazil on the gini coefficient! Basically a feudal state!
@@kimobrien. China capitalist? The finance sector and heavy industry are completely state owned. Private corporations operate at the discretion of the state. When have you seen capitalists eliminate poverty? If it weren't for the Chinese statistics, we would see the world's poverty rate soaring.
The Chinese bureaucracy is managing the economy of a place where the capitalists were expropriated, they're doing what is necessary to raise the standards of living, and when that's achieved they will democratize society. I know it can't be proven, but I think Marx and Engels would salute the Chinese state for its accomplishments.
Learnt a good deal from this video.
Isabella, firstly u have a balanced research on How China Avoid Shocks.. that indeed a very apt title that apply to China as one observe the planned economy being constantly realigned in the context of having to engage with almost every market economy of the world..
With a good understanding of the Chinese political, socio economic psychic, points regarding the driving spirit from returning intellectuals after the 1970s, learning from every entities that is better than China at the period especially learning from the Asian Tigers especially Singapore...etc, etc in my opinion thus dialogue has neglected the following points:
1. Regardless of all the current situational hygiene factors n threatening compasses, China has constantly anticipating future Shocks is derived from historical n cultural heritage as a CIVILIZATION STATE.
2. Being an Asian myself, another success factor is Asian cultural inclination to be inclusive n continuous learning especially from your adversaries.. Sun Tze Art of War, teaching American economic text is to understand n avoid its pitfalls base on China own circumstances..
3. It is a common missing point from Western China Watchers or so called experts to appreciate that it is a dominant culture that Asian try very hard to avoid living beyond its means n save for the rainy days..., thus the the critical pitfalls of most Western developed nations because the past exploitation n imperialism have help to build up a high living standards n a welfare systems that no longer sustainable ,,( so Iso9000 series, carbon foot print , human rights issues are just a few of the agenda to control the growth of developing nation with double standard hypocrisy base on corrupt intent to maintain their Western Collectives status quo to lead the world...of course these eco systems are good in principle but abused by corrupt agenda especially led by US n Anglo Saxon selfish intents..)
China with 5000 of civilizations history must formulate its own plans to avoid the repeat of those SHOCKS N HUMILIATION OF TGE PAST 100 YEARS PLUS THE 71 YEARS OF DEMONIZATION, SLANDER N SMEARING, EMBARGO, ENCIRCLE/CONTAINMENT BY WESTERN COLLECTIVES, WHILE China is being branded as " Wolf Warrior Diplomacy, vaccine diplomacy, BRI Debt Trap, Xinjiang Genocide etc, etc but all these just drive China to be more alert to prepare n avoid future Shocks.. ( actually , these Western Corrupt Intents is driving China being more prepared, . )
finally, Isabella, my recommendation for u to write a series of books in terms of how China faces the challenges of past, current n future SHOCKS BOTH INTERNAL N EXTERNAL.. .......THE LOGIC THAT u already have the right amount of attributes to talk about China with the foundation such as :
1. Being a German with its cultural , socio economic experience as an European ( not an Anglo Saxon), which I strongly feel to be more pragmatic n balanced...
2. Having studied in China n having a good network with China in circles
3. Though I have not read your book however base on your discussion.. the book is the good start.
4. Final suggestion, u should try to teach in Chinese universities in order to research the new trending of THINKING OF CHINESE INTELLECTUALS THAT WILL BE ANOTHER ASPECT THAT MAY DRIVE THE FUTURE CHINA SHOCKS FOR BETTER OR WORSE...
👍👏👏 for your narratives about China n hope the rest of China Watchers ( too many is talking non sense ) to learn the more equitable perception on China Rejuvenation( non sense to brand it as China Rise because China n India were used to be the dominant powers ( without killing each other as immediate neighbours ) for centuries more that the 250 years of Western Collectives...that has instituted/manifested the China/India Border Conflict )..
CCP ignores Marxism Leninism in favor of liberal capitalist ideas.
@@kimobrien. indeed, eventually it is just impossible to have either absolute democracy or communism but a shade of hybrids that suit the national life Cycle of each nation.. the critical success factor is the statemanship of the political leaders supported by high percentage of hard working n enlightened citizenry that embraces common good for all instead of too much individualism n capitalism patronage that undermine sharing of prosperity ....
Any political system is just a tool with respect to the psychotropic life cycle of a nation that has to constantly review n make adjustment to drive common national objectives to improve overall living standards for the majority ...especially those less privilege with self reliance n bro g competitive....
CHINA HAS UNDERGONE MANY PHASES IF CHANGES WITH GREAT SACRIFICE N PRICE TO PAY, HOWEVER THE CONTINUOUS UP GRADING OF LIVING WUAKITY N STANDARDS HAS GIVEN CONFIDENCE N FAITH TO TRUST THE GOVERNMENT AS PROVEN BY CONTROLLING THE COVID 19 PANDEMIC WITH MUCH SACRIFICE N ORGANIZATION... ...
@@yuanhaochue2889 please do not waste you wisdom on this individual as you assume he is willing to learn from facts. He’s an ideologue that is only here to make trouble
@@sciagurrato1831 appreciate your opinion, indeed, it is very difficult to have a really sincere n genuine Western acceptance of the non-Western tenacity to progress derived mainly from Asian culture for hard work n tenacity to face challenges after more than 300 years if Western Superiority Complex derived from Imperialism n exploitation that was the foundations to achieve their current high standard of living n geopolitical dominance... Nevertheless, my objective is to high light their ignorance as a pass time, while knowing by experience that there were hardly any return comments or "likes" in the Western podcasts that include 100% of popular Western bloggers who are making a living by captivating the bulk of their supporters from Non-European followers, mostly Chinese diaspora.. , indeed 99% pro China comments are from Asian diaspora.. ( I only received 1, the only one appreciation from an Australian Blogger living n working in China as a China CCTV broadcaster.....!),
So I enjoy my writing especially to show them it takes a Western Oriented Genes especially a past British colony citizen to have a balanced view point.. eventually those sponging a living using the Chinese emotional sentiment are being constantly scrutinized if ever they losing their sincerity as a global citizen..
Tqvm for your feedback n advise..
Excellent discussion. The host needs to invest in a studio microphone for better audio, though.
Very illuminating 🙏
Excellent and insightful discussion. I like her beautiful German accent too.
Look at the 100 years of humiliation
Chinese keep their history
And learn from it
True. I think a lot of Westerners have no idea what state China was in 100 years ago and how handicapped the country was with unfair treaties forcing them to pay insane amounts of money AND having territories stolen. The fact that China has managed to stand up again (because of the CPC) to a point that's terrifying the USA...is incredible.
They will never let themselves be bullied again.
To better understand "why", I suggest a careful study of the lectures given by and books written by Professor Wen Tiejun.
Russia had a sudden overnight change, that's why it could not handle the shock. While China took its time to carry out gradual orderly change, it's that simple.
Hmmmm… China had its great leaps forward .
err no
Man, you just watched a long and smart thing and then you spontanously decided to make it into a short and stupid comment? It's kinda like watching Romeo and Juliette in full length and then commenting "the dude just wanted to boink the girl. It's that simple."
@@peterthegreat996 Testament to the resilience of the Chinese Communists to recover from the Great Leap Forward
@@tianwong152 China can not escape the problems of capitalism by changing names. They are already building substandard unoccupied housing for investment purposes.
Deng studdied the American Hamiltonian credit system which they have today
Deng studying how to steal like a western banker.
@@kimobrien. Westerners stole gun powder, and many others Asians invented
@@MrPathorock So? Why should I care if China steals "intelectual property of Bill Gates?" He rents a brain and the says anything you think of belongs to him. No different than a Chinese warlord who steals the peasants crop. Take intelectual property of American Bosses. Play video game without paying royalty have fun!!!
People sound really silly when they confuse “economic reform” with “political strategy”. I guess that’s what’s happens when you are a neoliberal technocrat.
What is the REAL test in economic reforms? People begging in the street in spite of trillions being spent on destruction of the world?
New Economic Thinking is "political strategy''. Think we are here in George Soros land .. ..let's leave here..
China has an economic model that is virtually inimitable, founded on efficiency in all walks of life and on certain cultural norms. On that basis it will always challenge western hegemony which has been the order of the day for decades, perhaps centuries. And that too today in the realm of defense!!
So, you are almost stating “it’s in their genes”. Your comment is disgusting.
The interviewer ask a question about how the Chinese technocrats come to a decision what is good and right for China. It shows his lack of knowledge that the north east Asian (including Vietnam) countries are steeped in Confucianism philosophy. The main one that stands out that is diametrically opposite to western philosophy is that the general good supercedes everything. This philosophy is alien to the western mind (something from Mars or from the stone age). Take for example, the wearing of face masks during this pandemic. It is for the general good. But in the west they refuse and whine that it infringes on their human right. That's why the west will decline because everybody is only thinking of his own selfish self instead of the general good. My country, like China, is building infrastructures for the next 50 - 100 years.
She basically just finish by laying out Dialectical Historical Materialism.
You sound like youv'e undergone a neo-Marxist lobotomy
@@petrosros theres nothing Neo about Stalinism
@@petrosros You sound like a cowboy.
@@borisnegrarosa9113 no, maybe he sounds like the millions of self lying capitalists who bomb you when they see you're using alternative to crook-ism!
A wonderful engaging conversation conducted with deep knowledge and seriousness of purpose - which is to understand things as they are and how they came to be. Name check Adam Curtis at about 15m who approaches similar questions in poetic documentaries.
One of the important factors is that the Chinese are a rational n thinking people
Rational thinking has not a thing to do with nationality. Instead thinking and ideas are closely connected to the way in which people have organised themselves for production. In any epic the dominate ideas are those of the ruling class.
Pragmatic.
@@cart172 Americans think the can divorce ideas from material conditions and just apply them as they please. This leads to the "well it use to work" so it should still work circularity. Short sighted and simplistic are synonymous with pragmatism. Ignores the material in favor of the ideal and refuse to take into account the interaction of opposites reversals and the how changes in the material conditions are always happening.
Lady you have a beautiful mind .. your smile reflect it 🙏😘
China works together not against each other.
So much misleading misinformation lies bullying on China by the news media internet and American government.
There are only shocks in shock therapy.
What is the name of the book,FFS?
How China Escaped Shock Therapy
A very interesting video. It has opened my eyes to the Chinese approach. Thank you for that. Economics is not my area of expertise and neither is climate but, as someone with a degree in science I can appreciate the dramatic effect that the climate debate is having on the ability of economies to deliver well-being to its stake holders. The problem I have is that when I look at the science, and I have been controlling research teams for much of my career, I can find no evidence that CO2 has any effect on climate! Since the assumption that it does is having dramatic effects on economics, surely we should look at the basic assumption.
It is interesting that all the computer models that are based on CO2 have failed to predict the last 20 years of global average temperatures, and, in fact have been grossly wrong! It is also interesting that experts on the effect of CO2 on climate have demonstrated that the current level of CO2 (0.04% of the atmospheric gases) has already absorbed almost all the wavelength of sunlight that is responsible for the resonance of the CO2 molecules, that is responsible for the warming effect. According to Professor William Happer, doubling of CO2 to 0.08% will have a less than 1°F impact on global temperatures. Also, Professor Carl Otto Weiss, an advisor to the German Climate Board, has analyzed all the European temperature records from 1750 till today and all the proxy temperature data from the Antarctic ice cores, which go back hundreds of thousands of years, using a Fourier analysis, which reveals cyclic influences on temperature changes and has shown that there is no effect that is not cyclic, and because CO2 levels gradually declined until the beginning of the industrial revolution and increased after that point, it is not cyclic and therefore does not show up as an effect on climate. If these experts are correct, then we are ruining western economies for no good reason and handing a great advantage to China, which is reportedly building a new coal-fired power station every fortnight or so to drive its economy forward.
Very interesting response. Further links to the soreces would be appreciated. Can you help?
Why do the majority of scientists from around the world disagree with your position .? In your opinion these radical changes in temperature and adverse weather events wwhat are the scientific explanation for these events .At a conference on global warming at the UN involving scientists from all parts of the world and at the end of the conference they had a briefing for the the worlds press zeven scientists sat at the podium the lead scientist addressed the press with these words. We are now entering the sixth great extinction .i watched the stony faces of the ather scientists at the table no one even blinked .tthe message seems clear and the tone of the text was obviously arrived at by concenses .so are all these eminent people represent science .dishonest delusional or just plain wrong .your view is the minority and i am open to your positon .but how did it cometo be that the majority of scientists got this so wrong.i would be interested in your comments on this
👍🙏🏻👍🙏🏻👍🙏🏻👌😁✌
10 minutes in, and not a word about Milton Friedman's Chicago School or the Washington Consensus. Weird. Might try another 10 minutes before I give up.
Interesting Mr. Soros (New Economic Thinking)reaction ..Ha ha ha ..No one so far I see here understands why NET pays xo much attention to this new book of the lady.
Being poor is bad karma. Thru out Asia, people knew studying (education) is the only mean to elevate oneself out of extreme poverty. However, when one is well off like American, studying can be challenging… there’s no else to beat? What’s the point of elevating one self, when one got there, one can’t just rest a little ? Also hating people are bad karma too. Hating one person can incur really bad karma. Just imagine, Hitler only hate about 8 million assumed Jewish believers. His country was burning in just a few years. So was the Imperial Japanese government, they believed they were the chosen people of Asia, rightful ruler of Asian. Again their country was incinerated in just a few years… American and allies were the one incinerated both of those countries. Therefore, it’s ironic that the American and allies governments and medias forgot that lessons. Hating is a very dangerous thing to do for any people of the Chosen, Exceptionalism, Superior Race or otherwise, either in group or individual. American government and media are doing a great job at mobilizing American public for some hateful agendas. I hope Chinese government media won’t be that thoughtless as well. Being rich and powerful is also bad karma. It transforms one from one’s true nature. Powers corrupt absolutely, the famous American saying. Loving kindness to everyone.
Chinese translate, or explain democracy as make people better(apparently they misunderstood). It is because of their culture, norms and social structure. And nations should be allow to seek their way of living, political system based on that instead of imported from other nations.
For example Japan seem to be a successful democracy transformation example, but if you look at the history, there only been once power handover to other party at a very short of time. Do people still consider this as a role model?
Well, this didn't age well. See the latest news about China undoing the transition one corporation and one sector at a time.
The US lost the cold war with the creation of more world market competition. Despite all the hoopla about a new birth of Bourgeois Democracy in the former Stalinist states that didn't happen ether.
No system is perfect, why people forget its the people that is running the system and not that the system determines the outcome. Hence China's model of socialism depends primarily on the quality of their leaders, their capability, their morals and their aspirations to work for themselves or for the people.... Democracy on paper sounds wonderful, until 'money politics' and duo party democracy in the US system that shows its failings, and even other democratic systems around the world with their inability to act cohesively as a nation and being undermine with too many cooks spoil the broth mentality.... As long as China's leaders lead and ensure a majority people first for the people the system works, when power corrupts and cronyism, elitist mentality seems into the system than the system will be going downhill. The big challenge for China is once it achieve a dominant voice in the world what will happen next.
It is foolish to fight China and try to keep them out as the USA does and tries to convince Europe to do the same. Instead the Western countries shall do what the Chinese did, i.e. to study their own society and make conclusions how to improve. The Chinese took the West as given and made its ressources useful for themselves. The West shall take Chinas fast and succesful development as a fact. In this case a prosperous China can play the role of a locomotive for the world economy.
It became common use to blame China to buy companies in the West and copying their technology. After WW II US companies had expanded al over the world, so for instance to Germany. It did no harm to Germany's economic development. Quite vice versa. West Germany thus could quickly recover and rebuild no matter that there was a drain of technology and brains from Germany to America after the war. So the successful Chinese development shall not be seen as a thread but as a chance.
The Chinese model of economics: Authoritarianism, bribery, dishonesty, and trickery.
The American model of economics: Trickery, bribery, dishonesty, and criminality.
The Americans had it all, and blew it.
Remember the good old days?
Thirty years ago.
The West was triumphant, and western liberalism had won the day, it was the end of history.
The Berlin Wall had fallen and a uni-polar world was born.
The US reigned supreme.
China was insignificant and Russia was moving towards the West with Gorbachev.
How could we possibly mess this up?
Everything was going our way.
The Americans came up with the Washington Consensus.
Thirty years later we discover China was the main beneficiary; it went from almost nothing to become a global superpower.
Maximising profit is all about reducing costs.
China had coal fired power stations to provide cheap energy.
China had lax regulations reducing environmental and health and safety costs.
China had low taxes and a minimal welfare state.
China had a low cost of living so employers could pay low wages.
China had all the advantages in an open globalised world.
Western companies couldn’t wait to off-shore to low cost China, where they could make higher profits.
Western businesses tried cutting costs here, but could never get down to Chinese levels and they needed to off-shore to maximise profit.
They gave away decades of Western design and development knowledge in technology transfer agreements.
China was a new, fast growing economy compared to the mature, slow growing economies of the West.
Investors would be able to achieve better returns in the new, fast growing Chinese economy and this is where the money headed.
US investors love China and know it’s the best place to make real money.
czcams.com/video/CaELQS5kTso/video.html
George Soros, Bill Gates, Warren Buffett, Elon Musk, Jeff Bezos .....
All the cards were stacked in China’s favour.
just kinda by lookiing at the USSR lol
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.
Mark Blyth from Brown U - suspect much better
The history of China is a series of painful revolution, shock therapy. Each new government will try very hard to avoid revolution by adopting evolution and modification for cautious change.
For a Chinese it would be even more intriguing as how China could escape the economic war fair for so long. The establishment in the US must knew that China is going to be a threat in terms of economic dominance yet they've only started the economic war that late. That is fascinating.
Thats Capitalism for you. It was good for the quarterly reports, Long term will be handled in the long term.
Let us see if the approach works(again), afterall USA does have an overwhelming advantage.
That's because the West was betting China would embrace western liberal democracy.
@@2KSnSLifestyle That sound reasonable, but the premise that economic growth would bring political change, and thus China would embrace liberal democracy, to me doesn't sound logical. If the economic growth actually happened (let's first put ourselves into the shoes of 80's policy maker), then it would actual prove that the political system is effective. And in fact too effective that people are now calling it a miracle, then, why would China change their political system if this system is proven effective? The second question I have is, as Isabella Weber said explicitly in this interview, in all the political papers in China they never hide their ambition to develop an economic system that are capable of producing all what they need, so if you listen carefully, the implicit meaning is that they are aiming at taking over at least some crucial production role of the US, and this has never changed. Thirdly, the constitution already said the CPC will be the only political power in China, why would anyone has any illusion that a western democracy will emerge on Chinese land?
@@ericchang7326 as you noted "the constitution already said the CPC will be the only political power in China, why would anyone has any illusion that a western democracy will emerge on Chinese land?" no kidding. I knew before 1997 the cpc had no intention whatsoever of honouring the Basic Law of HK. Given their actions since I conclude the chinese are generally hostile to pluralist democracy in general, very little worthwhile understanding of parliamentary democracy and procedure, and no use at all for anything western beyond economic possibilities that facilitate the feeding of 1.4 billion people and keep them quiet. I believe the cpc and the chinese as a whole have very little regard for the individual. They want public peace, health, home, school, job and if exceptionally harsh measures are needed to achieve these ends the cpc wouldn't hesitate to exercise brutality. If "nudging" - prices, surpluses, limited private ownership, private for-profit business - can achieve this as well then they seem willing to try these means, too, but they've little interest in western Enlightenment thinking at all.
@@ericchang7326 That's because the West believes their system is universal. Political power and the constitution can be amended. The US constitution contains many amendments.
In fact the communist party agreed several times to share power with the KMT right from the beginning, but the KMT refused and tried to destroy the CPC.
No one can predict how a coalition government would look like in China. The CPC has repeatedly tried to convince the Taiwan government to cooperate, but Taiwan still refuses.
I can see a scenario where the Taiwan government would be given an autonomous region status and govern Taiwan, Russian East and Outer Mongolia as well as the 11 dash line while the CPC governs the rest of China..
True, China is also susceptible to the same economic (natural) laws that the West has been all these past centuries plus other restrictions non-existent for the West (1.4 b aging population to feed、tech blockage from the West such as Wassenaar Arrangement & Paris Cocom、CPC's less stable one-party rule which leaves less room for mistakes、etc), but remember, the Chinese have proven themselves capable of erecting sorely missed infrastructures & churning out endless material (the only factors that ultimately count in a hypothetical/virtual or cyber/fintech world economy) relative to the finite world population; the China Path has trailblazed through endless impossibilities as well as numerous insurmountable mythologies, mirage, scare-crow strawmen, smoking mirrors and forbidden cities... proposed by the almighty Economic academia and the colossal financial titans who have failed to logically explain the China Phenomenon until a much lesser-known economic student Isabella Weber from Germany
That's a China that is entirely in your mind. The real China looks very much like a modern version of industrializing Great Britain, Germany or the US.
@@lepidoptera9337 I'm not getting it. Your statements are too brief and judgmental, and lacking in convincing in-depth analysis, supporting facts, and examples. Please be more specific and illustrate your claims:
1. "a China that is entirely in your mind": why and how, which claims differ from reality? Layout your analysis.
2. real China resembles B b/c it is carrying out the land enclosure, forcing farmers to give up land and experimenting with steam engines? G b/c..., and US b/c...and here is the evidence:
@@leonal522 Yes, you are not getting it. But why should I care about your limitations of understanding? :-)
@@lepidoptera9337 Why even reply to my comment if you are here not for a discussion but discharge and vent?
@@leonal522 I can't repair the broken notions in your mind for you. That would be a total waste of energy.
We're all Uyghurs now.
Uygurs beg to disagree. They have high speed rail, ten airports and 25000 mosques.
45:00 It's a shame that she only marveled but didn't touch on the comparison bt the $70 billion among China's 203 elites and the mere $6,5 billion among the 535 people in the US's upper echelon.
Wasn't the Cultural Revolution the 'shock'?
Capital by nature is greedy. If capital is above and control the government,then the country is doomed. One party country can creat a responsibility government, as no way to push the problems to any others.
talk i cheap - look at what those in power in PRC and USA do to find out which system they prefer. There is only a one-way flow of private wealth from one with no property rights to the other with common law property rights. I know which system I prefer.
regarding the shock therapy, it is an impossible choice for communist party. The reason is simple, such social disturbing will push Communist party into history. All China dynasty change were all caused by diterated society. Communist party understand this very well, publicly talking about this all the time. Whatever happened in the early reforming years were totally a balancing game, try right foot and then left foot. There had always been huge arguments for what to do in next during that period, it was a great struggle.
CCP listened to economist Michael Hudson instead of Milton Friedman.
I don't know about the book but this interview is terrible....And you'll never understand Chinese economy when you look at Chinese economy.
so how to understand china if put aside chinese economy as u suggested?
Nonsense
Communist Or socialized ?
"The Chinese handed US its hat. Capitalism is flawed beyond recognition. FUBAR. Shake up! XR
Bogus. China is about to experience profound shocks in their property and banking sectors. They also are experiencing disruptions in steel and power sectors due to political interference. This refers to their restrictions on Australian imports, which include coal and iron ore. In addition, they are interfering with their own economy by interfering in sectors such as big tech and education. All of this happened after, I expect, the author wrote the book. This is sometimes referred to by the term "Overtaken by Events (OTE)". So, old news. In addition, economic figures from China are not trustworthy.
Your comment is shallow and filled with falsehood. You can leave now. You don't know China. Go see Gordon Chang. He did his slandering better than yours.
@@blackknight4996 So, you are the expert. Have you heard of Erergrande? Have you seen the videos of massive apartment blocks being destroyed because they have stood uncompleted for over 10 years? You are ignorant of the situation, and it is you who should leave. Who are you anyway ? You hid behind a false name. Get some education before you decide to male judgments, or, better yet, leave the the scene.
@@louisgiokas2206
Go and join Gordon Chang. He predicted China's collapse for over 20 years and he is waiting eagerly. If you can join him both of you can wait till you both enter the coffins. It's Evergrande...恒大 Learn the right spelling. It's embarrassing.
@UCmkcrfvkrvrsY7CDR7zQiXw I have been following this for over 40 years, both in China and the rest of Asia. You are the one who needs to educate yourself. China is undergoing a demographic catastrophe. They are also undergoing a decoupling from the rest of the world. This will end badly for China. George Bush once asked a Chinese premier what his most pressing problem was. The answer was finding 40M jobs per year. Well, how is that going?
China is tearing itself apart. They tried to be both capitalists and communist. You cannot be both. China still has over 600M people in poverty. They have the highest wealth inequality in the world. Is this the socialist utopia? Rich Chinese, including the Communist elite, are stashing money overseas. The system is corrupt and is x=crashing.
@@blackknight4996 Saying you can leave now is a totally inappropriate comment. You don't have to agree with me, after all we are expressing opinions here. You also assume you know more than me and that your opinions are more valid. How do you come to that conclusion. That is insulting and stupid. Who made you dictator?
And how do you know what I know about China? Feel free to disagree with me, but don't presume that your opinion is valid.
As for China, and all their supposed experts, if you look at what is happening now, and the policies they are following, and still think they are somehow experts, then you have no idea.
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this video is going to age badly...
Add a Public Comment
No!
Cannot.
Does not matter...just buy BitCoin
US success is the downfall of its demire!
How China avoided neoliberal shock???? Because it was never the intention. As well, because American- European stooges weren’t at the helm in China as in everywhere else, including Russia (the drunk idiot who was installed by the West after Gorby, I can remember his name). I insist, analyzing economics independent from politics is an exercise in futility.
Only Westerner would agree with your book but not Chinese citizens.
I'm sorry I can't bear to listen to her, it's hard. in in in em em em of of of of is is is who who who and and and from from from a a a that that that for for for the the the, she should learn to slow down a bit and stop repeating word again and again and again so many times, instead just stop and think for a second. like the interviewer for example.
Like she cares.
Why don’t you try speaking German for a change? You should be thankful she could articulate such an important topic so clearly in English.
Fake news