China's Economic Rise Has Ended US Dominance with Warwick Powell

[@delltellegen5646]

Warwick has a comprehensive understanding of international politics, history and economics. As well, his ability to articulate concisely and compassionately is unmatched.

[@charlesyang4923]

The secret in Chinese model of democracy is "select and elect" in all fields of governance including politics up to national level where selection must come first and people qualified for being selected to lead is not by popularity but by the experience, expertise and merit whoever this person presented in the past. This system had been passed down for centuries in China history as is publicly well perceived and highly respected as “meritocracy”.

[@dudleymills1427]

Test of Democracy is the ability to de-elect Tyrants. 'Chinese model of democracy' is yet to reveal that ability.

[@user-qh7rj9wj4p]

In America the tiny hats pass it between them

[@peterwilliams7335]

I could not agree with you more. Also there is a system in palac in China to keep track the accountability and responsibility of promises committed by different levels of government or leaders. That is why almost all of the plans and promises set every five years were achieved in time.

[@charlesyang4923]

@@peterwilliams7335 Insightful analysis. Thanks. I would add traceable accountability for life during Chinese bureaucrat tenure both for merit (for mobility consideration) and misbehavior (for legal investigation or judicial liability) leaves no room for cheating.

[@frankm6218]

It is why China will never have Trudeau or Biden in power. Btw, I am Canadian.

[@799jmartin]

This was a very good interview.....it was very insightful!!!

[@WTFinancepodcast]

Thank you very much, appreciate the kind words! Warwick makes it easy as an interviewer with his knowledge.

[@799jmartin]

@WTFinancepodcast I have watched you since you started....I work in Finance in New York and I appreciate your insight and the insight of your guests....

[@stickitupyourasteric]

Interview..... insightful..... throw out ( it was very )

[@一个说话大声的中国人]

Insightful stuff is CIA's job, but the devil is always in the details. Simply put, the political system of the US is that political amateurs elect professional politicians in public courts or media trials through voting, while the political system of China is that professional politicians elect professional politicians in closed or secret courts, which has nothing to do with the public, amateur politicians and the media. There are two main details that I can think of, and the rest are consequences. The first detail is about the income of politicians. The salary of American politicians is paid and judged by taxpayers. Losing an election may lose the salary. Lobbying and gift-giving are legal. The salary of Chinese politicians is paid by the government and judged by their superiors, who are professionals. Lobbying and gift-giving are corruption. The second detail is about the income of the government. The income of the US government comes from various taxes, while the Chinese government collects taxes, but there are many state-owned enterprises. These enterprises are generally two types, one is the businesses that are easy to make money, such as stock exchange, media, electricity, water, weapons, etc., and the other is the businesses that are easy to lose money, such as infrastructure, electricity, weapons, etc. In the past, the Chinese government owned and ran hospitals, cigarettes, alcohol, etc., but no longer.

[@luizamorim1626]

Warwick Powell is a very knowledgeable & compassionate man. ❤

[@markmigallos9254]

One of the most insightful analysis of the economic model of China

[@markmigallos9254]

Warwick is extremely well informed

[@Aramsa-Khan]

Warwick Powell's narrative is very enriching.

[@scu21843147]

When you keep on focussing on war and creating conflicts around the world, that is what will happen. The who whole world is so sick of the US and its foreign and economic policy

[@peterwilliams7335]

The US can only be successful at the expense, misery and suffering of other countries including China.

[@glenngrowe7105]

The US is so sick of the whole world. You guys are on your own. We don't need you.

[@alsetalokin88]

@@glenngrowe7105 go home yankee

[@chengwahong9465]

​@@glenngrowe7105really?? 😂😂

[@MrJermson]

​@@glenngrowe7105redneck spotted.

[@nickl1177]

Warwick insight on China is second to none

[@ailinchong7506]

Wow thanks Professor Warwick Powell 👍always great pleasure to listen to Professor Powell’s cognitively intelligent inspirational & enlightening insights 👌👍🙏

[@hchoe6823]

Always rewarding to listen to Prof Powell.👍

[@linus631]

Great conversation! Must have Warick back!❤

[@charlesyang4923]

The mere fact is South East Asia countries had been co-existed and cohabitated with China for centuries and had never been invaded by China for an inch of land. Instead they goes up and down in line with the cyclic fate of China dynasties. The bottom line is dispute between countries is inevitably unavoidable, yet Chinese chooses to settle thru negotiation whilst Western powers by gun, and this is the fundamental difference not well known by Asian countries until the arrival of colonizer starting 15 century. A recent poll (published April 2024) conducted by ISEAS - Yusof Ishak Institute funded primarily by department of Education of Singapore shown over 50 percent S.E. Asian people favor China than American in popularity.

[@adrianocs4]

Take in consideration the fact that most of them don't like the chinese, but they dislike the US even more.

[@peterwilliams7335]

That is why countries that follow the U.S., most likely will fall and fail. Countries that work with China, most likely will rise and succeed.

[@濮大威]

“Multi-polar Peace” indeed! Bravo!

[@parttimethinker7611]

In sports, trashed talks about your opponent before a game is really self defeating. It motivates them. The Chinese were our friends, now we made them our enemies. The sad thing about this is we not only loss a friendly country, we have an enormous enemy.

[@BestFitSquareChannel]

Professor Warwick Powell!!! Brilliant. Admirer here. Best wishes. China owns the complete supply chain, from raw materials to value add to final product, in key trade/technologies/fabrication/finance areas. China was perfectly happy being equal trade partners. US forced China hand to evolve areas of supply chain they had happily left to others.

[@lawrencegan8924]

Enjoyed listening to Prof Warwick tremendously. Cool, calm, and collected with a real understanding of what he is speaking about. Kudos to both of you. Thank you very much.

[@yaoliang1580]

The US is never interested in the political systems of other countries as long as they remain weak, obedient and is unable to pose the slightest challenge to their absolute world dominance. If they are interested in spreading human rights n democracy, they would not have chosen Saudi Arabia, which is the most autocratic country of be one of their biggest ally

[@serogolemogole2685]

💯

[@WTFinancepodcast]

Hopefully after their failed Iraq/Afghanistan intervention there is a better understanding that change isn't always the best option, with the risk of more extreme individuals emerging. Thanks for watching!

[@alfreedng]

True. See how they embrace Vietnam, a communist country, and Israel, a country of hostility, inequality and lot of human right issues. All they care about is how to remain its hegemony and controlling of world resources

[@EclipseEditzx3]

I told you so… US is weakening. China has its own issues but US is on the decline

[@fannyalbi9040]

which family has no issues of their own? same apply to a country.

[@FAFORednickincell]

The one who has to borrow 1 trillion dollars every 100 days to keep it's economy afloat

[@ljhS0ExZrXLmKPwVzwiygQ]

@@fannyalbi9040 人家说啥了啊 你就怼。你说了半天你不也和人家一个意思吗？？ 这么玻璃心你就不要上外网，这么ego导出阴阳怪气败坏中国人形象，你这种评论真的很像某些没班上只有爱国情绪的yd网民。

[@TacticalMayo]

Yeah sure, whatever you say 🤣

[@FAFORednickincell]

@@TacticalMayo wtf is wrong with you You must live in small town nowhere’s ville USA where folks leave rather than go to live Probably crying about liberal San Francisco or New York thinking it won’t make it out to you

[@LipingKong-ms1zm]

You have chosen a great speaker. In my opinion, really the West needs to consciously make more efforts to get😮 to know the East. Obviously, there is a huge difference, both in terms of culture and economic aspects. Only when you know your counterparts well, you can develop effective ways of doing business with them.

[@DerrickScott-i6s]

The West understand the .It's just a put on a fake denial they know 100 percent

[@willengel2458]

deep down the empire knows it all too well the empire is fighting to stay No. 1, or attempts to destroy No. 2.

[@charlesyang4923]

Multipolarity has been a Chinese belief for centuries traceable back to 2,000 BC. This can be evidenced by for the first time PRC propose “Five Principles of Peaceful Coexistence” during Bandung (Indonesia) Conference 1955 after nation state PRC founded 1949. This is the onset of modern time concept of multipolarity under Westphalian sovereignty system post WW II, except China only recently gain momentum, assisted by and implemented thru BRICC and SCO …etc, to wage its influence thru economic, geopolitical power to materialize this concept into solid ground.

[@shinlee2579]

Very accurate assessment

[@Đờimitry]

Australian cities actually needs more development and houses. Houselessness is everywhere. USA actually moved their industries to overseas like Aus way before they moved their labor intensive industries to China, so why haven't Aus develope much ? Still cant even manufacture bicycles for own consumption. Just talk and barking when USA tells it to.

[@dudleymills1427]

Mass bicycle manufacturing in Australia ceased about 50 years ago when manufacturers in cheaper countries could produce at an acceptable quality and price. Example: en.wikipedia.org/wiki/Malvern_Star

[@Đờimitry]

@@dudleymills1427 Ok, thanks. But still Aus not known for exporting much manufactured goods worldwide like great brands from Japan, Germany etc. Labor in Germany and Japan still expensive and even China now is not cheap compare to most other nations around the world. So how is it that China can make affordable products while others cheaper labor nations can't? Because they invested wisely in manufacturing. Why is it a " sweat shop country" can afford decent living standards, hardly any homelessness and able to even lend back dollars back to USA while USA living standard declining and increasing homelessness? Because USA invest in war and destruction.

[@tinabriggs2286]

@@Đờimitry A small domestic market does make it hard to build scale to compete worldwide, but yes you make good points. Following the west into deficit spending and dumb foreign wars will be disastrous for Australia

[@Đờimitry]

@@tinabriggs2286 Yes u are right, a small population, less labor pool cant compete, but Singapore still able to house most people, believe it or not 90% of Singaporean owns houses or apartments. Aus can compete, it's an energy powerhouse and shouldnt have housing issues and no, they dont need more immigrants, but less and to attract migrants with skills and knowledge. Companies can be much more efficient with less workers thanks to investing in more machines etc these days compare to other companies with more labor force but lacks manufacturing output.

[@dudleymills1427]

@@Đờimitry Aus' advantage in a global market is high quality commodities, essential for manufacturing, which Japan, Germany, China etc do not have and must import, and which must export manufactured goods in exchange. Chinese goods are fair value by being cheap but poor quality; they don't last long. Most Chinese were massively tired of being desperately impoverished by deadly Chinese politics and wanted to become rich. The West provided finance, technology and markets (WTO), the Chinese supplied very cheap labour producing to fill Western orders and artificially keeping the $USA / ¥China exchange rate small by buying USA government securities with $USA profits. Plenty of indecent living conditions in China. Homelessness exists in many countries, including China which hides such embarrassments. "Beware the Industrial Military Complex" [USA President Eisenhower, January 17, 1961] in all countries. China uses theirs to suppress Chinese democracy.

[@tromboneJTS]

One of the most informed, insightful, textured, and articulate explanations of China's economic development...and growing pains.

[@alcheung405]

This must be the most knowledgeable guest I've heard for a long time! The breath and depth of knowledge is simply incredible!

[@seekan88]

China never aims for domination, it only aims for global peace, respect and collaboration ❤

[@michaelwang6125]

India/Japan/S.K/Philipine/AU/EU/etc and multiple other nations: O___o Wolf Warrior diplomacy is its way to aim for global peace? Does Xi wants to seek to create a world of Xianjian where everyone can live in peace... its not detaintion camp but a mandatory re-education camp.

[@zeboontan2119]

Just before you went into the "please support this channel" session, Powell mentioned one of the key point here. In the western eye, looking into how the economy China had been doing, they see it as a declining economic and it's going bad. But in fact, it's not. Export is still growing. The difference is, Chinese mentality are thought to save up money as compared to western mentality is to invest rather than to save. The people's household income has grown but they are saving it rather than invest or spending. The government realizes this and just recently came up with a stimulus plan that I think it's brilliant. The person who came up with this should be awarded a Noble Prize!

[@cam35mm]

yep, Warwick is right, the deindustrialization of the US started in the late 70s, aka the Rust Belt. The Racist One percent used China as a scapegoat, and most Americans, being also racist, bought into this propaganda. Rust belt really rusted under Ronnie Raygun, like Thacher, Ronnie Raygun started the process of turning toward a Finacial center instead of being an industrial power just like Britain was doing. To be fair to Reagan, the US industry could build anything, everything they built was crap. And what do you want China to change into a vassal state with no sovereignty, just ask any of the G-7 and they will answer back, how high should I jump. So don't blame China wanted to be independent just like our founding fathers. So many of us Americans forgot all about that. it is about domination in order to enjoy the wealth of others.

[@mskmsk7174]

Write a book, why don't you.

[@tsuikr]

The contrast between the US and China in dealing with their problems are so stark in this interview! China has an overall long term plan to deal with the present problems in relation to its long term goal! The US seems only to double down on it quantitative easing and to use its diplomatic and its military power!

[@gryblk21]

The emperor has no clothes. But is the West a real economy or just a hyper-financialized casino?

[@WTFinancepodcast]

Or potentially both at the same time? Thanks for watching!

[@michaelwang6125]

What some are concern is the debt to GDP ratio of China; especially when it is printing or issuing digital currency without any regulation. There are already too many nations that face an over 800% inflation but those impact is limited. It'll be like Moscow/Ukraine war... drove up the global living expense since they produce some of the essential projects such as grain/energy... a battle over SCS would be more than 5 times more destructive. western USA's debt is still standing firm because it is the global reserve currency (namely thanks to the crediblity/reliability/transparency it gain over the decades but if something triggers it to lose that status. e.g Beijing was able to overtake Taiwan island which will enable it to put economic-etc pressure on Japan/S.Korea/Vietnam... that day/year will be the decline of USA's reserve currency status. Note: Japan is a steadfast ally to USA but it basically side with whoever is strongest. Back then it was the UK; follow by German.... and then USA after the WW2. So nothing is set in stone. On the other hand; Beijing internal corruption is massive. It was great that Xi went after many for corruption but those turn out to be selective political purge without resolving the fundamental problem. It took Japan over 10-20 years to recover from the bubble it created.... and that's while the rest of the world (except maybe 3 country) was being very economically friendly with Japan's export/import. The bubble in China currently may be more than 10 trillion while its economy isn't as big as America's yet. Putin the wild car kind of cause Beijing to sour its relationship with most of Eurpoean nations for them to bail out Beijing after US-China shipwreck. Mainland China probably lost more than Russia/Ukraine despite China itself isn't in a hot war yet.

[@jacintochua6885]

Westerners with relatively short histories can't understand others with millennium of history. Self ctowned mindest of exceptionalism blinded them,

[@samaval9920]

Europe territory is also equally old, but so many countries come & go so each has relatively short history.Han Chinese migrated to China 1000s of years ago & are still there. Europe during same received W Eurasian Hunter gatherers, Anatolian farmers Yamnaya. Indo Eurooeans.

[@iwanagohome326]

Fantastic guest! Thank you. I already subscribed!

[@craigrik2699]

... did you just cut out Warwicks output stats? He's mentioned them before, China's manufacturing output for export 1995-2005 was 15%, 17% 2006-2014 and its back to around 15%. Meaning, 15% of all manufacturing output in China, is exported, the rest of the 85% is consumed in China!!!

[@shaundudley4576]

He did. Precisely At the point where Warwick was responding to his challenge regarding the nonsense of overcapacity. Sneaky. Anyway, he seemed quite out of his depth throughout

[@warwickpowell2870]

To be fair, there were some network issues at that point. The high point of exports to output was 2004 at 18%. Thank you for listening 🙏

[@shaundudley4576]

@@warwickpowell2870 Good of you to inform us Warwick. I was debating on whether it was worth my precious time going forth with him as it seemed a suspicious glitch. BTW I cannot overstate the impact of your brilliance on my engagement with these issues. I just finished your book and have immediately started from the beginning again. Your genius at compelling elucidation of the driest technicalities is a wonder.

[@warwickpowell2870]

@@shaundudley4576 thank you

[@craigrik2699]

@@warwickpowell2870 yes, sorry, I couldn’t quite remember them, as well as the time frames (I was listening to that conversation in the car travelling to Collie WA while working) certainly well below 20%, cheers for all that you do Warwick

[@SLF-o2w]

As an English polisher at China Daily in 1988-89, I polished many articles by Chinese reporters about township village enterprises TVE.

[@mingouczjcz3800]

Great piece. Thanks

[@LipingKong-ms1zm]

Sometimes, we can not draw the line between friends and enemies so easily or clearly. In some aspects, the differences are greater than cooperation, in others, perhaps overlapping, existing great opportunities of working together. Times are the essence. We must be able to face realities.

[@jackypackham7666]

Warwick Powell, wow! So knowledgeable love your show, all subscribed up never miss a show. You guests are the cream. Love it! Shame you can't make a living at this. Come on people subscribe!!

[@jackypackham7666]

Your

[@jackypackham7666]

Obviously missed this one ,😂😂😂

[@charlesyang4923]

Trade imbalance between US and China must also take into account two factors in parallel to only import/export of goods that includes a)surplus in service sector such as bank, finance & legal firm, insurance, VC earning/dividend …etc that are NOT reckoned into existing cross border trade formula, and b)US self-imposed export ban on US-made or US-designed high dollar value and high end industrial goods (AI chips stands out first in line). Powell is exactly right to say US lawmaker pointing fingers at China trade deficit thru additional tariff and sanctions is not a correct approach to solve and manage bilateral relationship, but seeking cooperation is. Yet this is highly unlikely to happen any time soon considering prevailing Sinophobia built around American society.

[@gimmesometruth7341]

America looks so run down and poor on TV,with little investment. China is all new and gleaming, plenty of investment.The Chinese government also appears to look after it's people.

[@SurendarGRao]

You should pay attention to your guests when they are talking to you. You seem to be distracted, elsewhere and not present in the conversation! You need to engage by listening actively with mindfulness! Thank you! He is a great guest. It felt like he was wasting his time talking to emptiness.

[@WTFinancepodcast]

Thanks for the feedback, was a late interview (1am) due to time difference, so was definitely a factor! Also often trying looking at the guest on my screen or changing the streamyard view.

[@raymondyang4342]

Initially the US blocking China entrance WTO through almost 10-12years until other EU interested doing business with China.

[@JIANGTG]

1. Do not be panic after seeing China's rise in practically all arenas ( economy , military forces , social stability , space exploration , drastic reduction in poor population , greenery in deserts , improvement in ecosystem , etc, ) Instead , smart countries should scrutinize what are China's success strategies and adopt the relevant " recipes " for fast development of their countries . 2. The main reasons for China's rapid rise include far-sighted and long-term strategies , effective government leadership , pragmatic approaches to solve many domestic problems , creative and can-do spirits , etc. It does not matter what kind of political system China has implemented because ALL ROADS LEAD TO ROME.. 3. China's 56 ethnic groups are firm believers in the Chinese saying " FOOLISH OLD MAN CAN REMOVE MOUNTAINS " ( 愚公移山 ）。They can conquer / remove all obstacles / mountains in relatively short period of time , with the effective government leadership. 4. China strongly upholds and implements its motto : EMPTY TALKS RUIN COUNTRY ; SMART AND HARD WORK PROSPERS NATION.

[@timoshea2449]

A very interesting channel. Thanks Anthony 🙂

[@WTFinancepodcast]

Thank you very much, appreciate your support!

[@Aramsa-Khan]

Why should China change? Mr. Interviewer. The USA system would be a disaster for China. The intention of the USA is to be able to make China subservient. China will not after going through a century of humiliation.

[@dudleymills1427]

'century of humiliation' - the Chinese have had to suffer millennia of humiliation under the self serving, incompetent, rule of absolute despots.

[@dragondescendant1]

​@@dudleymills1427when China first became civilized, the wealthiest country in the world, your people were swinging on trees living in cave.

[@dragondescendant1]

​@@dudleymills1427when China first became civilized, the wealthiest country in the world, your people were swinging on trees living in cave.

[@chrisFg818]

This is right 👆. There is no guarantee that a governance system that should work for 300mn, but which has shown itself susceptible to donor corruption, is suitable for managing a rising living standard for 1.4bn people.

[@htlow3598]

Well, it is as clear as mud to me but then I am not involved in crossborder international payments system. However, glad to know despite BIS dropping out, mBrigdge carrys on.

[@patrickgz]

china seem to have taken a methodical step by step approach. china's hrs policy focused on rural development, modernizing agriculture and encouraging cottage industries, creating excess rural workforce who can then be diverted to sezs. it setup and heavily invested in sez infrastructure with strict fdi framework that foreign investors just could not overlook. think they started with 4 sez initially and expanded it to 16. she used the sukou system to basically create an economic dualism, the rural and urban to delicately balance its social makeup and development between rural and urban. cant tel if they learned and adjusted along the way or it was planned from onset. if it was planned, who were involved i wonder.

[@arewethebadies]

It has not ended but whatever helps you cope. China has invested in every emerging market economy in the world. Its domestic market is already bigger than the US. They have a long way to go.

[@MalFlower]

Warwick is such a gem 😊

[@Keiz1122]

Then, Ceuta should also return to Morocco. Gibraltar to Spain. Diego Garcia to Maldives. Hawaii, France Guinea and Guam independence.

[@tomiputra3720]

Hearing Kamala word salad then hearing Prof Powell it is like hell and heaven to my intelligence 😅

[@jxmai7687]

Prof Powell is like the only one non Chinese that deep understanding China,

[@bilguunnyamaa7767]

Cause he's part Chinese

[@samaval9920]

Also Prof. Michael Hudson, at least.

[@512Berlinetta]

The decline of the empire has been expected, and it is quickening, but rate of decline is mind boggling!

[@frankm6218]

Mr Powell is a true American, intelligent and rationale.

[@samwang4179]

I think professor Powell grown up and worked in Australia.

[@888YangJi]

Is he related to Colin Powell, because he really look like a younger and healthier version of Colin Powell?😁😁

[@waynethorpe1341]

Bad Policies spell "The End"

[@jackshultz2024]

Thirty years ago China was “crossing the river by feeling the stones with its feet”, but now China has built a wide bridge across the river

[@minchen5187]

So surprised Anthony didn’t know this…😊

[@lancetaiwhanga4127]

Here is a prime example of a boy talking too a knowledgeable MAN. And not a Man speaking to a Man.

[@WTFinancepodcast]

Thanks for the feedback, appreciate you watching our conversation!

[@jonlew6383]

Is not only china, Many countries have risen and better .

[@xperimentalist7471]

According to Peter zeihan china has 10 years left.

[@阿彌陀佛-v5v]

No..war

[@MonaBsher-d7y]

Awesome and useful,glory For china,china Alredy won,i Came From Future

[@stephenyang2844]

Some Australians think independently, not blindly follow US‘ edits.

[@danielodey7775]

Why are his teeth all crooked ??

[@mskmsk7174]

That heading is a total joke. The U.S. is still way out in front.

[@WTFinancepodcast]

Agreed! US is still out in front, but their hegemonic dominance since the 1990's after the collapse of the Soviet Union has ended. I think competition is actually good for everyone, so hopefully prevents unnecessary wars and helps to drive forward further innovation. Thanks for watching!

[@dragondescendant1]

It is people like you got the head stuck in the dirt don't know what is going on around the world.

[@Macsalleh]

US should start up sweat shops and MAGA

[@Macsalleh]

US should start up sweat shops and keep the homeless busy

[@Macsalleh]

​@@dragondescendant1He had been brain washed by Western Media

[@joyaku3078]

consteuctive analysis is given by this intelligent Chimese Intelectual👏🙏👍