Economic Update: The Phenomenon of China
[EU S14 E17] The Phenomenon of China
This week’s Economic Update Professor Richard Wolff dedicates the entire show to the economic developmental achievement of China, together with the historical background that motivated that achievement. We analyze the uniqueness of both the economic philosophy and the politics of China.
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I'm a 2nd generation Chinese born outside of China in Malaysia, our family's identity in Malaysia has always been "Chinese" even though we are Malaysian. Chinese immigrant brought their strong Chinese culture with them where ever they went and kept it strong, especially in SE Asia. I'm so proud of China and it's achievement and the Chinese people.
Me too!
same ere
Lucky you! That the Malaysian government still allows you to cling on to your Chinese identity, unlike in Indonesia and in many Southeast Asian countries where forced assimilation policy is enacted into law. In Indonesia, Chinese language, names and the celebration of CNY was banned from the 1960s till early to mid-2000s. That's why Chinese Indonesians who grew up during that period can't speak Chinese, don't have Chinese names, and don't celebrate CNY. It was unlawful to bring Chinese books, magazines or newspapers into Indonesia back then. Even though the government has lifted the ban, the new generations of Chinese Indons have lost their Chinese roots and identities forever. Because, how can they still be Chinese when their parents and grandparents themselves have lost it? How can rgey still be Chinese when, instead of Chinese, they speak Javanese at home? Chinese Malaysians are luckier, that you're not forced to give up your roots by your government.
Thank you ❤
Rightly proud. That strong Chinese cultural identity and cohesion could only have been reinforced by Malaysia's Bumiputera policies.
Rare to see people in US who see Chinese system in such a positive way.
I'm American and praise China although they aren't perfect
Not rare. It is just that the algorithm doesn't push the positive narrative on China.
@@jermainemyrn19 Now China is sharing the hand book "Did it in 40 years" to Africa, So America, etc.. Give a Man a Fish, and You Feed Him for a Day. Teach a Man To Fish, and You Feed Him for a Lifetime
@@jermainemyrn19 imperfect China vs. perfect Americans Have you fought the Chinese? Your father or your grandpa? If not, have your children ready. BTW, honestly, are your children smarter or dumber than their Chinese or Asian classmates? Honestly, I guess that your children are dumber. Honestly, your answer is my answer.
@@jermainemyrn19no such thing on earth as a perfect system.😊. And yes the Chinese are smart and hard working. Their history is fascinating 😊
I was in China in the 1970s. They were really poor at that time, especially in the countryside. To have an idea, google one of the poorest country in the world, Burundi for instance and look at the pictures, China was poorer than that in the 1970s. They elevated their country (which is as large as a continent) in less than 50 years. It is a miracle. Why do we despise them? why are we against them?
I hope you like fallout 4 ☢️
@@TacticalMayo Please don't troll people when they speak the truth. If you want to prove your pov, please stop harrass others and write your own post, or make your own video.
@@oldsc5181 Use a better translator, or just say it in English. LOL
@@user-hl6mz3wz1d the guy admits he is a troll. Have a little self-esteem for yourself plz. You can still do something in your life.
因为侵略中国🇨🇳有大大的好处 领土 地下的宝藏 太多 你在其他地方看过这么多地下宝藏吗 你在其他地方看到的绝大多数是造假的历史文物 包括两河流域 埃及 苏美尔 希腊等 绝大多数都是造假的历史
A key thing is that not only did China raise a billion people out of abject poverty, but in doing so it vastly lowered the cost of living for billions more around the world through its low-cost products. This had a profound effect especially on the developing world, as tens of millions could now afford household goods like refrigerators and laptop computers. Pretty much everything you can think of - clothes, shoes, computers, phones, furniture - was much more affordable due to China's infrastructure and supply chains, which vastly reduced the cost of manufacturing goods.
The actual figure accepted was 800 million.
China' car industry now driving the price of cars down😂
Yep. Indians may bash China but if it wasn't for them, most couldn't even afford smartphones or be online to bash china to even begin with. At least Africans know that China is the real strength and hope for the global south and helped lift the whole world up with it, specially the global south and developing countries. It ended the century of humiliation for China, but also centuries of humiliation for the global south and developing world.
@@ex0duzz Your example of Africa is key because long before China embarked on its economic transformation, when it was very poor, it built China's first transcontinental railroad, the 1,000-mile long Tanzam Railway in the early 1970s, with its own money. Regarding Indian manufacturing, the percentage of value-added goods from China jumped from 6% in 2000 to 24% today, and shrunk for the US, Japan and other places. In other words, China contributes four times more to India's manufacturing sector than it did 20 years ago. This stands to reason: most of the parts in iPhones made in India still come from China.
@@georgesibley7152according to the world bank, as of 2021, it is all of 1.4 billion out of poverty. China has been providing low cost housing and welfare for the poor.
It’s so nice to listen to an American who is actually knowledgeable about the world economic and has a fair explanation. Thank you Mr Wolff, as a Chinese living in New York, I am grateful for this programme! Thank you!
Do you agree China's economical success was largely helped by America? Do you know the communist China planned to wipe out the American population with a fast-functioning bioweapon?
Oh course you live the USA lol
marylaistirland6864: I think professor Wolff has missed the military financed by China's good economy. The better the economy the stronger the military. How China is using its economy to finance its military should not be missed. As far as I know, China is planning to use its military against the US. The plan called for wiping out the total American population, including you in New York, with a bioweapon. Do you think professor Wolff has missed something?
@marylaistirland6864: Did you hear about a Chinese plan to wipe out all the American population with a bioweapon?
A fair assessment, no propaganda 👏 In short, China is about doing business, co-operation through mutual respect. Their rise is not through colonialism or imperialism.
This is propaganda.
Tibet, east Türkistan, burmeses Guangxi , inner Mongolia , Manchuria?
That's what you say, I don't believe you. And secondly, it's not what fascinates me because it's different from my view of the world.
@@gee8883 Have been there ever? IF not, that's ok, you can easily find a traveling VLOG in Tibet, Xinxiang,etc. And google the population growth in past 40 years in those regions. Using your brain to explore, to study and to think, OK? If you have one of course.
Chinese old culture teaches self reliance and persistent WORK for 5000 years ❤
Merit over Woke silliness !
But "Centurial" governing help... Not until the end of the "7 Waring States Years", did China became China. and even before and after its period of 5000 years, it went out and take what work from the outside.. China show.
@@chriswong9158 The Yellow Emperor Huangdi > The First Emperor Qin Shi Huang > Cao Cao > Sun Yat-Sen > Mao Zedong
You don't really know China, its diversity, unless you visit China's underground art world and lifestyles in Chonqging. It's beautifully creative, unmatched in the West
@@etow8034What does WOKE mean?
Great insight of world affairs and the phenomena rise of China. China is a blessing and benefactor to the world 👍♥️🇨🇳
God he is so wrong. 🤣
@@TacticalMayo Oh my gods that is truly an argument that only the most genius among us could make. Well done. /s
A genuine gentleman of wisdom, knowledge and history. I admire you.
Most students in China are studying USA, or study inside USA; while most Americans do not study Chinese, nor study in China. If say China is an enemy of USA like Biden and Trump say, then I suggest most American students of the next 2 decades to spend some time, studying your enemy or inside the belly of your enemy. I hear people saying that Chinese education is crap, that is why they all went to US or UK or Canada or Australia. Well, let me tell you the truth, the reason is, we could not get into good China's university, that is why most of us went abroad becoz it's "easier" to get in.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” ― Sun Tzu. Chinese student learn this saying...
Too much competition in China.
In China, competition is so stiff that only those top talent gets the opportunity to shine whereas in the West , any Chinese student of second or third caliber level can easily sweep aside the competition. In the nation of the blind, the one-eyed jack is the king. 😂😂😂😂😂
@@chriswong9158 Ouch and spot on. Tell that to Mr. Cottom or the senator who asked what WIFI does. They are all supposed to be educated by Harvard or Yale.... that tells you why US in general is failing. When we went into China and did the selling to the Chinese customers, they all asked me questions and really wanna to listen and learn (might not have the money to buy), that was back in 1995. Hong Kong - well, sort of arrogant, telling me that they already knew (of which actually they did not). In Singapore, they were always asking questions, and learnt it themselves but not buying but to build it themselves. In Japan, they just nod even though they did not agree, but they nod anyway. In US or UK and Australia, they would tell us - shut up, they already knew everything. China does not get to where they are today all of a sudden, it has been in the making for decades. I think many Americans "just found out". I knew it when I was in Shanghai for the very first time in 1996. I knew we were behind, or would be behind within 50 years. Well I guessed the direction/trend correctly, I just got the date/time wrong.
The Chinese have fled away from the US Universities now. Have you seen the stats. One of the major issues Blinken just went to China is to beg for students to return. Almost 8 billion dollars is wiped out of the US fattened universities. Bring back the money or no support for Biden, was told Blinken.
Before the 100 years humiliation, China has about 4000 years history and deep-rooted cultural tradition. Their merit-based system in tradition still works today.
你不错
so why are the dumplings made of cardboard and the steel fake?
@@anchovie_pizzaare you serious?
That was before the CCP. Now it's all about who you know or how much you can spend on bribes.
Continue to smoke whatever u are smoking😂@@anchovie_pizza
You are the first person to explain China's past, present, and future in such a short amount of time. Your speech is so wonderful, and I believe that China will choose the plan of universal harmony to form a community with a shared future for mankind to replace hegemony. Respect from China ! Sir
And who do you think want to see you?
@@miroperinich2495 It doesn't matter who I am, and it doesn't matter who you are. It is important that no one can stop China's rise. have a good day!
Life is real simple sometimes. You see Richard Wolff, you click.
Can’t argue with that
do you mean Prof Richard Wolff ? Come on, they studied hard to get where they are today, they deserved that title to be called with their names
@albertcadgame8314 He's a professor of Commie-nomics. It's a way to make the once wealthiest country in South America, Venezuela go bankrupt and turn the once paradise on earth into a living hell.
Uh oh regarded alert. Making excuses for chinese state capitalism does not make you a marxist or socialist it makes you a red fascist. Campism has thouroghly rotted your brain.
Life gets unnecessarily complicated with America in the equation !
China has vowed to never go through the 100 years of humiliation again!!!!!
For those reason, China PRC have #1 Rules in dealing other Nations: China's non-interference directive
China has always had that policy since the yellow emperor. It’s the foreign pirates who brought this upon the Middle Kingdom.
History can't repeat.
All people on earth should follow their example, they opened the door. If they can do, we all can do. No matter if it should take more time. With G.o(o)d help, it may to take less... Think about it.
They still are, the way they treat the Muslims, slave labor, their actions during covid19, barracading apt buildings. Actions of a tyrannical govt.
Great ep. China is under discussed, especially in socialist spaces. China has a lot to teach us in the west
You Can Lead a Horse To Water, But You Can’t Make It Drink. Africa, So America, Mexico, Middle East are listening
Too many Americans armed to be defeated. We will never be a marxist country.
China getting ready, they are going to screw Africa over, they know they cannot payback the loans. China is going to FAFO..
Dengist china is not socialist.
@@Mrko3ak2020 I used to think that too, until I started looking closely. It's obviously not end stage socialism but it is very much state capitalism on its path to socialism
5:35 america is not competing, america is anti-competing. america can't compete. america is impotent.
Honestly, what is this guy yapping
@@jaro551 america has no manufacturing base. The rich handed it to China on a silver platter decades ago.
@@jaro551 Honestly, what are you still delusional about?
@@jaro551 You Can Lead a Horse To Water, But You Can’t Make It Drink. You just don't need to believe truth
@@jaro551 Have you fought the Chinese? Your father or your grandpa? If not, have your children ready. BTW, honestly, are your children smarter or dumber than their Chinese or Asian classmates? Honestly, my guess is that your children are dumber. Honestly, your answer is my answer.
Whenever I see Richard Wolff's face I click on it. He is the best of the best.
He is very good, but he still doesn't understand MMT, which I consider essential in a Great Economist. He still believes in Gold Standard economic remnants that no longer make sense.
@@bargdaffy1535 Buy more US Treasury Note. Yellen thank you. Oh, by the way, USA since 1950's held a major part of foreign gold asset in the secure USA. Since 2022, with more of US sanction worldwide of US dollars $$$, US, Foreign Nations, Foreigners, and even some US citizen has order the withdraw from USA. You must know better about "Gold" then others whom hold Gold as a reserve. Gold return since 2019.
He loves china
@@bargdaffy1535 what is MMT? fyi, Opinions are like assholes; everybody has one. so, what you consider essential mean sh!t.
@@user-vp1vl6yp9t Sure, Modern Monetary Theory is not actually even a Theory, MMT is a description of how Modern Sovereign Currency Gov'ts work with their attendant Economies and how the accounting transactions take place. Of course you are not interested in actually knowing what MMT is and I have already wasted too much time trying to educate an Ignorant Mind. 🤡🤡🤡🤡🤡
Community of nations. No more empire. I love it.
Is that what you think is going to happen? 🤣
@@TacticalMayo Okay you are boring the hell out of me now. I do appreciate your repeated error filled posts though because it increases these videos in the algorithm.
@@dinnerwithfranklin2451 what do you mean the US and the West have already made up their mind. This is done we already know what we're going to do and we already know what direction we're headed and nothing is going to change that.
Campist brain rot. Workers over nations. No multipolarity but solidarity.
China does not seek world dominance, instead, China seeks to build up a better world in which every nation is equal and prospers. World dominance and colonization is an Anglo Saxon mentality.
Well, you remember the Spanish and French empires right? They are not anglo-saxon,, and there's plenty of people who don't believe in the cutthroat capitalism that is generally described as colonialism, in America, Professor Wolff is one of them I will remind you.....
Great propaganda 👍
@@bluewater454
@@bluewater454 Which happens to be true. Yes, you can propagate truths and facts. Unlike the $1,500 million propaganda budge of the US to demonize China.
@@bluewater454 Thanks
China is doing it right. They are doing great with State Capitalism, and their domestic Infrastructure is amazing. Wife and I chose Shanghai, over Tokyo japan, and wow. Shanghai was beautiful. Very modern
Just hearing the line "it became a powerful country. It became a socialism with Chinese characteristics" made me emotional. "But I want to stress.. It was against the humiliation of those 100 years that the Chinese undertook to prioritize, becoming once again, the unhumiliatable, powerful enough, rich enough, productive enough, to not be humiliated by the west.. AGAIN. That is their central theme, and THAT, they have achieved". The man gets it. A whole generation or even 2-3 generation of Chinese people willingly sacrificed their lives for the next generations and for the future of the country. They put their heads down and worked hard for decades. At first making cheap clothes, then cheap plastic toys, then metal bikes etc, continuing to move up the tech tree, just so their children will have a great life and future and so china can never be humiliated EVER AGAIN. These people are the real heroes of China. These people are what made china jt jd today. These people are what made the communist party of China win the civil war. They are the people who literally make up the CPC itself. The working man is Chinas real strength and always has been. Only when China is divided internally could foreign powers could even think about invading or conquering China. Like Jalam when it invaded when China was at her weakest after collapse on Manchu Chinese dynasty and during Chinese civil war. And Japan still got crushed. That's why the 8 nation alliance never attempted to invade and colonize all of China. They knew they couldn't. And even if they do succeed after a century of war like the Mongols and Manchus did(yuan and qing dynast), in the end they are the ones who willingly chose to identify as Chinese and assimilate into Chinese society. Its an amazing achievement, and would be similar to the Vikings having a 100 year war vs the British and then after they finally win the war, the viking king proclaims himself as British instead and disowns his Viking culture and adopts British culture and civilization. Or the christians ln their crusade, wins the war and crusades, but the admits Islam is the best and converts to being a Muslim and now reps for Islam. It's an amazing achievement. One of the sll time guests. And it didn't just happen once.. but 2 times, maybe more. with centuries in between them. It's like you went to war with with the objective of forcing your enemy to adopt you into their family and country lol. So amazing that it's literally unbelievable and never happened again.. except it did, and in China again. Chinas real strength has always been its people, culture, philosophy etc. Chinese civilization itself. Other civilizations come and go, but only China remains. Why? Because even the enemy of China wants to be Chinese and preserve it over his own(mongols/manchus etc). A civilization cannot end if your enemies don't even want to kill or end it and they instead willingly choose to assimilate into said culture and preserve in themselves! It took Chinese decades to stand up and finally kick all the foreigners out. bhg today like Mao proclaimed, and Chinese have indeed stood up and will never again be occupied and humiliated by a foreign power.
As a Chinese I gotta say this guy is smarter than the whole USA government combined I give my respect to you sir from China 🇨🇳
If you folks were on the right, why Wolff and company were not in control of the America government? Since you are from China, may I ask you a question? Are the Chinese communists planning to wipe out the American population with a bioweapon? After the wiping-out, the communists will build a second People's Republic of China on the North American continent. Wolff and company were helping the Chinese accomplish such a plan.
Not born in China nor been to China and this professor is A+ when talks about China economy...
@@loveblindhate9318 : Yes, no doubt China's economy was very good. Yet the professor did not see the bad side of the economy. China became very militarily powerful and is bullying its weak small neighbours and is threatening America. The powerful and rich China planned to attack North America with a bioweapon to wipe out every soul there, and the professor would be a very good cheerleader.
@sleefy2343 : Very happy to talk to a Chinese. China was doing very well in economy indeed. Good economy always creates good military. We in the West have been informed that China was planning to use its good military to do harm to America. This coming harm might be the reason why the smarter Wolff and company were not in control of the American government. The less smarter people are still in control to fight America's enemy, the communist Chinese.
@@loveblindhate9318 : I believe the professor has missed the military. Economy is closely related to military. China's strong economy has produced a strong military. And China was using its strong military in ways not welcome to the Americans in particular. For Wolff to miss the military cannot be right because the Chinese communists wanted to revenge against the Americans.
"China has one party - the communist party - with one wing. The US has one party - the Capitalist party - with two wings." Recent events have shown that the US is not just a one-party system but a monarchy: the Democratic or Republican Party rules, Israel reigns.
Yes, Just two factions of the same party: the mó eu party or the war party.
Very precise !
😂
USA is a falling empire.
Who knew one wing could fly higher than two!
Thanks for a mature approach to understanding what’s going on politically and economically with China. China’s progress is truly amazing and should be examined fairly so the rest of humanity may benefit from its lessons and approaches. Thanks again Dr. Wolfe. Much Respect! And again thanks for having Dr Ball on from BPM.
Look at Queen Victoria period 1850-1900 of England, for China more or less model their with that period. Central Government, Capitalism Enterprise with just added a little of Socialism (the people) into the pot & cook well
Chris Wrong
@@chriswong9158 thanks. I’ll check it out. 👍🏾
Hey Dr Wolff your talk show is the best . Appreciate your time and hard work !
Hey, your entire ANALYSIS ABOUT CHINA PHENOMENA FROM THE PSYCHO LOGICAL LENS IS TOTALLY LUDICROUS AND PRETENTIOUSLY ARTIFICIAL. YOU FAILED TO TELL THE WORLD WHO HELPED TO BRING CHINA TO WHERE THEY ARE. I CAN READ BETWEEN THE LINES. I CANT BELIEVE HOW NAIVE YOU ARE. YOU DESERVE A C+ FOR YOUR THESIS!😮
I'm most impressed by this presentation about modern China by Dr Wolf...objective and balanced. I'm Chinese Canadian since 1972 but very proud of the achievement of my country of birth.
This is one of the very best talk shows on China I have watched so far
Always so informative & interesting listening to Professor Wolff. Thank you!
Yet another brilliant analysis of historical and economic data for those who seek understanding rather than simplistic propaganda. Thank you Dr. Wolff for your insight.
I hope you like fallout 4 ☢️
I don't think China want to dominate anybody. It's the US mentality that stem from its own culture. In the US, everybody wants to win...competition in sports, in jobs...everybody wants to be the best, the #1 guy. And so it is natural for them to view and measure against other country in an economic term as well. But China as a society is never about competition as much as family, friend and cooperation. So, this is where the misunderstand happen by the US. They view China the wrong way and even call them the enemy...which is something they make it up so they have something to compete against. China will change the world because China create friends and US create enemies.
I hope you like fallout 4 ☢️
I've witnessed a similar phenomenon at a personal level. I once worked with a Mr. X who was angry that his underling, Mr. Y was earning more than he was. Angry despite the fact that the Mr. Y was working for a lower rate of pay but for longer hours. Eventually Mr. Y was promoted above Mr. X. This, of course, drove Mr. X to distraction.
Don't be fooled, there is no mistake, it has its reasons.
Mao cleared the field, so that the seeds of China, could grow.❤
Many thanks from Sao Paulo, Brazil. Your videos are brain food!!! I really appreciate your views.🙏
Not really phenomenon. It's a lot of hard work, perseverance, and great leadership.
And we're being accused of over production...
A lot of hard work, perseverance and great leadership - in other words, a phenomenon.
@@PhiloSurfer no
My grandparents, on both father and mother's side, were both born in Australia. I suffered first-hand the racist White Australia Policy which officially ended in 1973......1973!! FFS WTF. The Western World is so morally bankrupt, they cannot see it. They are so privileged they can't see the truth. I am of pure Asian heritage, I am Australian 100%. Thank you Professor Wolff.
That was a terrible Government policy. The Australian Government, like many Governments around the world, does a lot of things many Australians don't agree with. As a teenager at High School and then as a young working adult, nearly all of my friends were Asian, from many different countries (China, Thailand, Burma, Hong Kong, South Korea, Philippines, etc.).
thank you prof. wolff! Socialism beacon to the world.
Socialism is not thee key to the world... It is just a tool some use, other reject. like Republic, Federalism, etc...
There's no real socialism anymore. Socialism is finally dying out in Cuba and NK. What we have a varied takes on capitalism, and socialist institutions.
Socialism is barbarism.
@@JamesGonzalez-em9un Or, and this is just brainstorming here. Socialism has figured out how to compete with the hegemon and is now beating it at it's own game.
@@chriswong9158 historic materialism
The Chinese built the Great Wall not for attack but for defence. Sun Tzu (544 ~ 496 BC) warned: “Warfare is something with evil omen, it must be used as the last resort.” (兵者，凶器也，不得已而为之。） China has never built Arch of Triumph since ancient time, because the Chinese knew that even a victory war would produce more widows and orphans, not to mention weak and helpless old parents. Empire is unlikely to last long, and the best way is in avoiding of Empire-building at the very beginning. China declared very clearly that every country has the right to choose the best way to develop itself, while world affairs should based on mutual consultation and consensus whether big or small.
Look it up: China honours 99.9% of all the international agreements it signs. On the other hand the USA is signatory to many international agreements that it hasn't broke yet so saying that they violate ALL the international treaties sign isn't accurate - yet. Just give each one enough time and you can bet on the to be violated! Why anyone signs any agreements with the USA and expects the USA to honour their side is beyond reason!
did not stop them demanding tributes every year from their tributary state or from committing genocide when ii suited them as in Dzungar or from plundering Vietnam. They also displayed trophies, weapons and personal belongings of the defeated in Wu Cheng dian (the hall of military achievements). Later in the Qianlong dynasty, they commemorated their victories on stelae (often in their own Paviliions) and inscriptions. Many monuments were erected on the site of battlefields.
@@georgesibley7152 China gave more back to the tributary states. 😝
True! China with 98% ethnic Han majority has never been interested in colonising other sovereign nations since thousands of years ago. In fact, they were attacked and occupied by Mongol Yuan Dynasty and Manchurian Qing Dynasty in ancient history and partially col0nised by Japan and 7 other western alliance in her modern history.
Did the Han Chinese engage in “mutual consultation” with the Tibetans, Mongolians or Uighurs before colonizing their lands 70 years ago?
A balanced view and good to hear among all the disinfo noise. Will share ...
I love China!
I love Chinese American food 🍳🍕🌮🥟🍤🍡🥠🍩
@@alexhidel3732 Lol, it's good. I eat it all the time.
A quite Capitalistic state or some of their culture.
I love the people in China
@@gamervox1707 If that Capitalistic faith makes you happy you take pride in capitalism. BTW, did your father or grandfather invent capitalism? FYI, capitalism has nothing to do with you.
As a Sinologist with 25+ years working on various China issues, it’s unusual to see homeless Chinese. I’ve visited several new “totally complete” cities outside of Chengdu as they were being built, vacant at the time, but later bustling families living in more modern communities than in the U.S. IMPORTANT I think of Portugal’s colonization of Macau, middle 1500’s as the beginning of over 500 years of colonization, abuses, tragedy for the Chinese people. BTW, they have NEVER forgotten what the Japanese, and Western Colonial powers did to them. The contemporary encirclement of China is composed of many of the same Colonial powers of the past, coming back to oppress them, violate their human right of self-determination, kill them in a kinetic war led by the U.S. ----- I also wish we would begin discussing the plight of Chinese in America beginning in the 1800's. There has ALWAYS been either direct or tacit racism, hate, and prejudices against Chinese in America. It NEVER stopped and is increasing in intensity as the “Yellow Peril” ramps up and continues over the coming years. If the U.S. ramps up China sanctions, and steals assets, they WILL sanction and seize the assets of Chinese living in the U.S. as they have with Russian citizens. Please, let’s start here. EVERY American should know this dark side of our history, but I'm confident it was censored form your public and university education. NO American should be ignorant of this history. THE CHINESE EXCLUSION ACT OF 1882 But of EVEN more concern is the TOTAL CENSORSHIP of the: ANGELL TREATY OF 1880 PAGE ACT OF 1887 CHINESE EXCLUSION ACT OF 1882 SCOTT ACT OF 1888 GERRY ACT OF 1892 “Angell Treaty of 1880 - Was a set of revisions to the U.S.-China Burlingame Treaty of 1868 that allowed the U.S. to suspend Chinese immigration.” “The Page Act of 1875 (Sect. 141, 18 Stat. 477, 3 March 1875) was the first restrictive federal immigration law in the United States, which effectively prohibited the entry of Chinese women, marking the end of open borders. Seven years later, the 1882 Chinese Exclusion Act banned immigration by Chinese men as well.” “The Chinese Exclusion Act of 1882 - The Chinese Exclusion Act was the first major U.S. law ever implemented to prevent all members of a specific national group from immigrating to the United States, and therefore, helped shape twentieth-century race-based immigration policy. Passage of the law was preceded by growing anti-Chinese sentiment and anti-Chinese violence, as well as various policies targeting Chinese migrants and maintaining white "racial purity." “Scott Act of 1888 - Congress took exclusion even further and passed the Scott Act, which made reentry to the United States after a visit to China impossible, even for long-term legal residents. The Chinese Government considered this act a direct insult, but was unable to prevent its passage.” “Gerry Act of 1892 - The Chinese Exclusion Act was initially intended to last for 10 years, but was renewed and strengthened in 1892 with the Geary Act and made PERMANENT in 1902. These laws attempted to stop all Chinese immigration into the United States.” The CHINESE --> ONLY ETHNIC GROUP in American history to be barred from immigrating! US history is littered with racism, discrimination, hate, violence, including killings against ALL ASIANS and ASIAN AMERICANS irrespective of ethnicity. What the non-Asian people in America are ignorant of is that this racism, hate, killings, and violence HAS NEVER GONE AWAY and continues NEARLY EVERY DAY across this country. It’s underreported or completely censored. But it is “top of mind” across Asians in America, and Asians across the world. They have not forgotten American atrocities to the Chinese people during our colonization of China and the horrendous immoral racist events in our own country over our history. Today, with the Administration, Congress, and others pushing the Chinese “Yellow Peril” we are reaching the level of hostility and hate toward Chinese that was evolving during the 1800’s. Chinese are already losing property rights in states like Texas and Florida, discrimination against a specific ethnic group. Chinese students are barred from certain university education in the State of Florida for example. The purity of this racism is only increasing. For my family, I have a “concealed carry” gun license to protect my Chinese wife and children. For a period of time over 2019-2020 Asians were the largest ethnic group purchasing firearms. ----- * Even CANADA got into condemning the Chinese: Chinese Immigration Act, 1923 (Chinese Exclusion Act) was the culmination of anti-Chinese racism and policies, including the head taxes which it replaced. All Chinese persons living in Canada, even those born here, had to register with the government or risk fines, detainment, or deportation.
Where is this from? If it's from a book, could I get the link or info? If it's your own.... then thanks. And do you mind if I copy and share it?
Only because China is so big, there are over 1 million homeless in China, and that does not include the figure for people sharing shared accommodation,
@@georgesibley7152 ...Stop lying. I lived in Ch!y!na and know that's false. Sometimes I w0nder if pe0ple like you are from ClA spreading more ant!! Ch!y!na narrat!!ves.
Thanks for sharing the knowledge about our history. Living in America for so many years I didn’t know the US government had made so many laws against us as a people. Hope it will stop doing this to any people.
@@cwan5 ...LOL. The "wyyte" countr!es will always dem0n!!ze and blame As!!ans..... espec!ally Ch!ynese. You still haven't learned that yet? You could be a 10th generation As!!an in Amur!!ckka, but deep down they will never consider you an Amur!!ckkan.
Your knowledge, insightful thoughts and wisdom are just mind blowing Prof Wolff. I enjoyed your video very much. Your time are most appreciated as always.
What china does 1 : china is one of the most peaceful countries in the world 2: china has one of the best infrastructures in the world 3:china has one of the most cited research papers and researchers in the world 4:china has managed to save its natural beauty 5: china is among the safest places in the world 6:china is one of the most organised countries in the world 7: Chinese are best at adapting new technologies and structures 8: china has one of the most skilled and intelligent people in the world
Prof Wolff is awesome ! Always providing the facts !
Brilliant episode, professor Wolff! As a Chinese born at end of cultural revolution and witnessed most of this period I'd like to offer my view on some of the things. Firstly a very important event to mention is the 5/4 movement, which took place on May 4th, 1919. It was sparked by the end of WWI and results of the Paris meeting that gave the German concession of Jiaodong Bay in China to Japan. China was on the winner side but a weak nation had no voice. The students took to the streets and demanded the government maintaining China's rights internationally and punishing the traitors internally. It also caused a huge reflection on the traditional culture and why China was weak. As a result the slogan to adopt democracy and science from the west was conceived and got very popular and the old Chinese culture was regarded as backward and dysfunctional. This dominated China until reaching its climax at cultural revolution in the 1970s. Then the reform and open door from the 1980s saw huge nearly 100% swing to the US capitalism until 1989. After that there's a comeback of communism as well as traditional culture and values. I'd say the Chinese learned it the hard way that no single system/ideology works all the time. Neither soviet planned style nor US free-for-all style. Like Deng Xiaoping said, doesn't matter black or white, the cat that catches mice is a good cat. So far China is lucky that leadership is good most of the time. Let's hope we can get through the tough years ahead together.
China's political system is largely *_meritocratic._* Hence, it is incapable of producing bad leaders. The US political system in incapable of producing good leaders. Just look at the last seven Presidents. LOL.
I hope you like fallout 4 ☢️
Thank goodness for your bravery, your intelligence, your honesty,most of all, your ability to see things as it is, your integrity to accept different perspectives amongst different cultures. As always, only if our leaders can see things as clearly as you do, acknowledge the differences, accept the differences, embrace the differences, recognize we must overcome all obstacles, and work together to achieve our common goals.
As always awesome. I just wish that the decision-makers took the time to watch your channel.
Absolutely that's all we need in the US a bunch of tankies giving advice to our people LOL 🤣
China is pretty impressive. I enjoy Beijing, love the food, weather and infrastructure. Much better than UK now.
Glad to see Richard sees the other side of China and not just as a Military and Economic threat, which is ridiculous.
You also got to remember he's not considered an American.
If every politician in US has the mentality of professor Wolff , US wont decline .
Yes we would just be a Communist dictatorship as well LOL 🤣
@@TacticalMayoyea, but instead now has turned itself into a laughing stock in the world.
@@terrancewonga7821 that's okay we 🇺🇲 have already come to terms with everything and we know what we're going to do.
@@terrancewonga7821 I hope you like fallout 4 ☢️
@@TacticalMayo very typical American mentality. War. no wonder why the US involved in wars 222 years out of its 239 years of history.
Every individual must visit China to see, feel, hear, touch and experience firsthand. China has a unique civilisation, culture, growth & development. The China phobia is because all other countries especially in the West are ill-informed & feel insecure. The symptoms of insecure beings are to blame, bully, criticize, etc. No other country in the world has so much distinctive service, art, architecture, technology and infrastructure. If you passionate about these, then you will be inspired. It is so safe and clean too.
Wonderful explanation. Thank you.
A WELL- BALANCED PRESENTATION OF FACTS AND HISTORY. NO ONE HAS COME CLOSE TO YOU. CONGRATULATION!
I HOPE YOU LIKE FALLOUT 4 ☢️
Professor Richard Wolff has successfully narrated the real world historically and contemporarily. Well done, Professor. Salute you
The Chinese government has said repeatedly they do not want to be a hegemonic nation. They want to work collectively, collaboratively and peacefully with other nations. I see that as a good thing.
In fact, it is the only hope of humankind on this planet! In this Nuclear Age, MAD could happen anytime, if nations seek for destroying others, instead of cooperation with each other.
When you are weak, hegemony is not your choice. When you are strong, non hegemony is also not your choice.
A community with a shared future for humanity. This is officially China's hope.
Chinese top political committees are composed of engineers,scientistsand economists. Whereas in the US, most politicians and their staffs are lawyers whose specialty is to shape people's opinions, and to create legislations for their own benefits.
In regards to the social changes mentioned by prof. Wolf, the primary credit for China's amazingly huge and fast economic success/development is due to the Chinese people themselves. Just imagine moving from backwards, distant villages, lacking advanced education, without any knowledge/experience of living in the modern industrial city in searching for jobs and better life in the original industrial zones in the coastal area in China. Working there at least 12 hrs a day, 6 days a week, accepting low wages for years, living in overcrowded workers' hotels (often 10 people to one room, in bunk beds, with a single bathroom for dozens etc.) and able to visit your family at home/ ancestral villages after a long train/bus journey of thousands of miles, only once per year... If that is not a remarkable work ethic, awesome, exceptional individual and social resilience demonstrated by Chinese people in the last 40 years , I have no idea what the work ethic's definition is ... 🤔
So good to hear from a rational, objective professor who calls out facts as they are without pushing a certain bias or political agenda! Nice lecture!
A superlative presentation this is! Thank you!
China is about balance, harmony - so no surprise to see private and public working together - with the aim of a better world for all. Always win-win; only when the other also wins, is the win a good and long-lasting win. It's that simple.
Thank you for that unbiased, informative service announcement on China, President Xi 😄
This is a fact.
@@bluewater454 Good one!
If the US doesn't watch its step, the balance will tip to China and the harmony will be in a very minor key.
I should expand my reply. Ultimately I would choose socialism (people) over capitalism (money) but think that some capitalism is good in providing incentive, competition and freedom - to a point. Where capitalism can go very wrong is when capital takes over government - western democracy being all about who has the most money, lobbyists, donations, kickbacks etc etc. In contrast, Chinese democracy is bottom up - one doesn't get into government through having more money but bu working one's way up - it is a matter of merit and gaining approval of the people at each stage. So, no'elections every so may years- between members of an elite (i.e. a scam) - but a day to day responsiveness to the people. One is short-term promises, and the other is long-term delivery.
2 facts that were missed: - CPC (Communist party of China) is the main but far from the only party in China: there are 9 parties including CPC! Very different situation from the US. And before liberals and westerners argue that these other ones are "non-oppositional parties" (stupid propaganda from wikipedia), note that this is both a misunderstanding of the concept of "democratic socialism" (look it up and read Lenin), and the fact that unlike in the US, in China policies are debated and changed according to needs, which is a truer reflection of political diversity than nominal changes in governing parties (like in the US). - unlike the imperialists countries (US, Japan and Europe), China achieved such an extraordinary level of development WITHOUT colonisation/imperialism. This is a fact that is missed even by many western leftists
I heard someone say that in China you can change the policy but not the elected, in USA you can change the elected, but not the policy 😂
@@brianhawes3115 also in communist China the government control the corporations, in free USA the corporations control the government.
Okay whats the need to wipe the event from 1989 out of the history books? Where the gov shot and killed 1,000's
"China achieved such an extraordinary level of development WITHOUT colonisation/imperialism. This is a fact that is missed even by many western leftists" What about Tibet?
我喜欢他们把共产党说的无所不能。 他们一定假设中国共产党比美国两党加起来还好10-100倍，而中国人都被骗了或被天网控制了。 （没有一个政党能脱离群众和其他团体，但能获得巨大成功。）
Majority of CHinese made blockbusters are about people uniting coming together to solve a problem.
Thank you so much Professor Wolff to bring geo economics, geo politics perspective to us tirelessly.
Fair commentary on China is rare. I really don't understand the West's irrational hatred of China. It is not new, but it has now reached truly pathological and dangerous extremes. It seems to be a mixture of xenophobia, fear of our own economic decline (someone to blame) and a general loss of hegemonic control of the world. Our sense of superiority is being challenged. It is really good to see this D@W presentation. Of course not all is right with China, but much is, and we need informed interaction with this great culture to get our balance right. Maybe a trip by the Prof to the Middle Kingdom would help.
They knew what would happen if you reach for the crown so now they will reap what they have sown.
I hope you like fallout 4 ☢️
@@TacticalMayo I'm not absolutely certain about what you're saying, but it seems that you believe that the USA will use nuclear weapons to defend its hill. Perhaps they will. There are certainly enough irrational idiots at the top in that country. Let's hope that Chinese wisdom prevails.
因为侵略几百年侵略中国掠夺黄金白银地下宝藏 还没有填满它们的欲望 它们这些侵略中国的官方和私下掠夺了多少金银珠宝 这就是它们这些侵略者发家的原始资本积累
Not too long ago, every country fear the US's nuclear power. Today no more. Russia, China, even Iran and North Korea are capable of hitting back all the way to the US with their ICBM. So US politicians may yabber on about starting a nuclear war...but beware what you wish for. 😂😂😂😂
Excellent
15:00 Today April 30, 2024, First Quarter of 2024: USA GDP 2.4% compare to China PRC GDP 5.3%, Russia GDP 2.8%
USA Q1 2024 GDP is 1.6 per cent. Where did you get the 2.4 per cent from? It was 3.4 per cent in Q4 2023.
If you look closely at cities in China, the Communist Party Secretary is the CEO, the Mayor is the COO. That may be one of the keys to their having the best-managed economy by far.
Not just cities, but it is like the whole country is run by a group of highly intelligent and efficient CEO CFO C...Os withing an extremely profitable corporation.
I hope you like fallout 4 ☢️
Ah! I loved it. I have so studied China under Xi and his leadership, his awe of the United States when he visited and his mission to have no poor to suffer in his country. I think he and his country are truly a marvel,although not surprised. Thank you. 30:20
Xi is a world class leader, one of the best in the current world.
A well balanced, thorough, and fair lecture. 👍
I keep trying to make the point that some people use the word ‘predatory’ in connection with capitalism to create the illusion that there’s a form of capitalism that isn’t inherently predatory; but in fact, capitalism doesn’t even work without the opportunity for exploitation, which is the very nature of the predator: to take advantage of, exploit or prey upon the disadvantaged, the disabled, and the financially or otherwise vulnerably handicapped. This is the reason that what the United States calls competition is rightly perceived by China as confrontation. Rightly or wrongly, it certainly is NOT, nor can it be seen as an effort at cooperation. The capitalist system depends on a growing economy (or profit expansion) to work properly, but the banking system is based on the creation of debt which gets back to the predatory nature of capitalism. The greedier, the more predatory.
Dear professor, thanks for your powerful talk of the Chinese ability to uplift the poor 800million out of poverty with in 40years,it is indeed a phenomenal achievement. I found your talk so interesting and I appreciate your intelligence and to share this spiritual gift to the world. From Jerry Theys South Africa.
Excellent educational global update.
Sure, if you like socialist propaganda. China is Wolffs favorite “socialist” country. There never a disparaging word about China on this channel.
@@bluewater454 Given China has never been in war with another country in the last 45 years, never involved in regime change in foreign countries, never killed the leaders of countries that opposed their economic interests, and most certainly doesn't support a white supremacist settler colony in the middle east called Israel. And you somehow think that China has more negatives than Amoorika.
@@morningstararun6278 China has not been to war officially with another nation because it lacks the ability to do so, but if you followed China news you would know that it claims the entire South China Sea, and bullies neighboring countries over its resources who also have claim to it. The Han Chinese have occupied and colonized neighboring countries for 70 years - like Tibet and Southern Mongolia. Sorry to pop your leftist fantasy about China, but it is no socialist utopia.
I am Chinese from Singapore, just like to share the big tranformation of China in the 70, that is only after Mr Deng Xiaoping visited Mr Lee Kuan Yew of getting the ideas of how to build the infrastructure of housing development, and the CPF scheme on how to finance the economic growth！
很抱歉 中国🇨🇳从来没有学习新加坡 别把自己当圣人 和教导师 这种谣传还是不要发出来丢人现眼了 你们要是有智慧和能力就不会是美国殖民地 媒体被美国政府和犹太资本控制 天天抹黑造谣中国🇨🇳 被刺中国🇨🇳
不要过度神化李光耀和新加坡在中国改革开放中的作用和所扮演的角色，诚然在改开前半段确实借鉴了一些新加坡的经验，但所占的比例也不是很高，新加坡是一个城邦国家，很小，管理复杂度跟中国无法相提并论，同样的经验有借鉴意义但完全无法套用，李光耀是非常有能力的强人，但他也仅仅是管理了新加坡这么小的一个国家（相比一个14亿人的多元大国来说），而且新加坡的主要是源于天然的区位优势，李光耀的能力在于他把这种优势利用起来并在东西方之间左右逢源转化为了新加坡的经济实力。而中国这样一个大国从一穷二白的底子上，在复杂的国际环境和内部环境下取得今天的发展，不是新加坡能比得了的。
李光耀是很有远见的人，中国确实参考了很多新加坡的发展，当时中国落后，参考先进地区的发展是很好的经验
Stop bragging when you guys are the slaves of the Angmoh.
Well said, so true about the modern history of China and Chinese thoughts and views of the themselves and the world.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” ― Sun Tzu, Life is a daily battle one must know & understand.
@@chriswong9158LOL China always loses 🤣
This is a pretty fair discussion of what China has accomplished in record time. This discussion not only helps Westerners understand China, but also helps Chinese people understand their own country.
❤Thank you very much Professor Wolff
thank you, professor, for understanding us
This is the best unbiased video on the web to expound on the economy of the world. With an open mind we should all Share and subscribe.
Professor, the vision you have for China is the one we Chinese have, not only for us Chinese, but maybe, for people who also aspire to be free and prosper.
I appreciate you sharing your knowledge with us all...
Thank you Richard on your honest very informed explanation on China. These are the views I hold on China from many travels there, I have many contacts there and always check with the people on the ground there when I hear our western propaganda, which I would say is 99% of our western narrative about China. You should be congratulated on your wisdom and honesty. Thank you.
I hope you like fallout 4 ☢️
It's amazing that so many young Wall Street employees watch Wolf's shows for insight on economic affairs
Bravo 👏 I have a dream: More Americans start thinking, watching and analyzing other societies with such deep insight , respect and even wisdom as I just had the enormous pleasure to hear from you! Thank you ever so much, you made my day an optimistic day!
A nation's power are its people. The current generation of the people represent the cumulative experience, knowledge, values, skills of all the people of that nation going back thousands of years. The poverty caused by the Europeans in China, resulted in the migration of many Chinese to foreign lands. You see the evidence of Chinatowns around the world. Imagine the strength and courage required to undergo that journey to not only survive but send money back home. I think about the Chinese workers who came and helped build the railways in the U.S. and Canada, what they went through. The Chinese head tax prevented them bringing over their wives and children so a man would not see his family for decades, decades!!! If you understand the values driving that type of behavior then you should not be surprised by what China has achieved. Through their long history, they have figured things out, made many mistakes but learned from it. The BRI is the result of that. The strategy is not of competition but cooperation, let's make the pie large and share. The west was always about racial superiority, brought on by the Catholic Church and that is why they colonized. The eastern Europeans followed a different church, not an institution of power, simply a church so no colonization on their side. Legacy of power in the west is the Roman Empire, Catholic Church, the British and now the U.S. Who do you think the ones who have been abused by the western powers will turn to when given a choice between the west and China? With China the best is yet to come. Their politicians are leaders. President Xi is coming from a line of leaders who are building on the previous ones. It is all connected from Mao to Xi. Mistakes were made but corrected and we are observing the result. A few years ago, there was a problem with pork supplies coming from Africa due to disease. It affected something like 30% of the supplies. The Chinese New Year was coming and this would cause great concern in China. The Chinese government went around the world, buying up enough pork supplies, even flying them in to ensure a smooth New Year. This is not an act of a dictator but a leader who is looking after his people. Similarly, the restrictive Covid isolations were modified when people started protesting. All this gets filtered out by the MSM but reflects what is going on behind the power in China. Meanwhile, the rudderless Americans are wasting their energy on whether to elect a D or R as their president as though that is going to make difference. That is the difference between a civilization more than 5,000 years old and a nation hardly 250.
two minutes in and liked the video. Have to respect this guy has a head on his shoulders.
So you know a lot of headless people?????🤣👍✔😎
America grew strong when economic equality was the highest prior to WWII; extreme inequality has developed and now impede its further development, with a shrinking middle class. We see bumbling and frantic efforts to block China‘s advancement that only seem to hurt its own economy, government is surviving on huge debt load. America is great no more, and fading fast.
Beach Chinese has performed a true economic miracle. It is very moving to read through the details of how they accomplished this.
19:00 Building Apartments : In China, they build before needing them, in USA, they have homeless on the streets.
Which is one reason why they have spent trillions on creating ghost cities no one lives in and their real estate market is crashing.
Unfortunately, they remain unfinished and unoccupied while having been paid for.
Another excellent insightful lecture from the Professor!
Wow, I could listen to Wolff all day!
Science and Civilisation in China (1954-present) is an ongoing series of books about the history of science and technology in China published by Cambridge University Press. It was initiated and edited by British historian Joseph Needham (1900-1995). China has several thousand years of tech experience while the West only has several hundred years since the Dark Age.
I agree
China is quite captalistic in nature not saying their not positives like them going after crazy rich people and them saying housing is for housing.
Fun fact: China has the second largest number of billionaires on the planet - second only to the US of Capitalist A. Socialist China - “going after the rich”🤑
Yes. China has one of the oldest capitalist model around. Just look at the Silk Road. I mean the old one
@@Black_Sun_Dark_Star This is a Leninist state being Capitalist meaning their just weird one party conservatives and not True socialist. no one finds this funny?
@@gamervox1707 Why would it be? America speaks of democracy but has been practicing colonial tactics of manipulations and exploitation of other countries, AND the suppression of their own free speech. Not to say the availability of public healthcare to the common citizens. China has had 3000 years to figure out capitalism and the mixing of various political systems
That anyone thinks America is either a Democracy or a Republic shows how ignorant and brainwashed y'all are. You live in a Capitalist Oligarchy. The same as all the other western 'Democracies'.
The best revision of China economics I have seen. Well done!
Extremely well presented Professor Wolf. Please do more of this because your work is contributing to WORLD PEACE❤directly and indirectly. Thank you so much 🙏
Amazing
Very insightful.
Wonderful to hear unbiased presentation by prof wolf thanks
Excellent delivery, thank you 🙏🏽
What China has done in just 70 years is a miracle, which shows the determination and ingenuity of the Chinese people. The PRC turns their dire situation into the most prosperous and powerful country surpassing the biggest capitalist in the world. Being a socialist country China becomes the “capitalist” who lends money to the USA. China’s growth in economy, technology or military will surpass the USA within this decade and enters into another golden age as she has had in the last 2000 years.
I hope you like fallout 4 ☢️
@@TacticalMayo what’s that dude, somekind of horror movie? Or a stupid Halloween bs?
Deng: Just let some people get rich first. Then we see how it goes from there.
Deng Xiaoping famously said "It doesn't matter whether a cat is black or white, as long as it catches mice." and Deng Xiaoping said "To Get Rich is Glorious" To the point of Deng Xiaoping word after his USA visit.