As an American Mr. Li is absolutely correct and he has a better understanding of what actually happened to America better than most Americans. The liberation of the financial sector have enslaved the working class of this country. More wealth have been created yet more Americans are poorer by every metric.
@mimiphuc2 жыл бұрын
Most Americans do not understand what happened to the American Dream because the Mainstream Media is controlled by the two political parties. Those two political parties have differences. But they have together in anti-china propaganda, selling more arms to keep military industrial complex busy, by creating world conflicts and chaos, keeping lobbysts as an important element in politics, ... And the Mainstream Media will make sure to push the narratives to get their objectives. No difference than a state media in China, Russia, ... US used western mainstream media to push the Invasion of Iraq with a fabricated lie, killing tens of thousands of innocent people
@fannyalbi90402 жыл бұрын
the politicians and mainstream media (and education too), make most american proud of their gpd and as usual the majority so proud their highest gdp in the world, they never question “do we even benefit from it? @
@steevek2 жыл бұрын
@@fannyalbi9040agreed. US gdp has been growing for the past many years, but the number of homeless in the street of many big cities is growing even faster.
@ansa3362 жыл бұрын
You are absolutely correct. It started with President Reagan, "Government is not the answer" backed intellectually by the Austrian and Chicago Schools of Economics plus the ramblings of Ayn Rand.
@tuw25282 жыл бұрын
Harvard trained economist Thomas Sowell notes that 80% of poor Americans rise into the middle income within one generation. In China it’s takes 3.5 years 😂😂😂
@ze49492 жыл бұрын
Eric Li is really patient here. The guy (don’t know his name) is so closed minded and did not sound like he understands at all what led to the American success.
@Huturenecho2 жыл бұрын
从他们坐的姿势可以给出一些answers
@alexfisky2 жыл бұрын
forgive my words,but i can't help to say that guy does not know any economic thing, and i just don't why he was invited to this seminar???
@Albion80s2 жыл бұрын
The big and not so bright guy has his mind trapped in the little bit he knows, yet displaying his arrogance. He seems to have an ego problem. It's an embarrassment to share the same table with a character like him.
@ramonching77722 жыл бұрын
Very true. Grasping at straws to refute a fact. Fact is financialization created so many crashes in the US.
@ansa3362 жыл бұрын
That is my impression or is it because English is not his first language. Alternatively he does not understand Political Economy, that the US got misled by the writing Ayn Rand.
@wanzg2 жыл бұрын
這個老外的言下之意是,第一,中國應該開放外來移民,第二,中國應該全面開放金融。這樣才能保持經濟增長。他認為中國提出了“內循環”的概念就是關起門來搞發展。但事實上,中國的理念是“構建以國內大循環為主體、國內國際雙循環相互促進的新發展格局”,而他只看到了前半句。由此可見這位老外其實是不了解中國政策的,又或者是在給李世默下圈套。但凡關注過中國政策的人都知道,習近平在任何場合,無論是國內,還是國際上的甚麼達沃斯論壇、G20、一帶一路,你能說得出來的任何場合,都是說中國會堅持開放,堅持多邊合作。反而是美方,兩黨輪替的時候各种不穩定,一到共和黨就是各種毀約、退群、單邊主義、美國優先,一到民主黨了就各種加群並高喊“We are back”,然後四年後共和黨上來又繼續毀約退群。你可以看到,中國才是堅定不移走開放道路的那個,反而美國不知道能不能開放下去因為不能確保政策的延續性。 中國提出“內循環為主體、雙循環相互促進”的理念是在疫情之後,但凡有點思考能力都知道這是因為在中國國內疫情處理得好、國外擺爛的現況之下,中國必須以內循環為主,否則你們擺爛到底,我14億人要跟著你們嗎?我不得想辦法自己玩兒嗎? 這位老外根本一點都不懂中國,不瞭解現在的中國更別說過去的中國了(相反,李世默對美國過去、現在有著相當程度的瞭解)。
As a 65 year old white male American who experienced it I agree 100%.
@alexsoo66722 жыл бұрын
I've been watching a lot of your videos lately, Eric. Love your indepth knowledge and how you handle interviewers.
@qingzhou99832 жыл бұрын
Eric, and China, has a different view from that guy. Eric is focused on bottom people and that guy is focused on Elites. that is exactly the problem, huge inequality in US.
@willengel24582 жыл бұрын
Eric failed to bring up that corporate tax was extremely high during the 50's.
@iqbang92362 жыл бұрын
You could have used the word "grass root" instead of "bottom people" which could be offensive.
@j-mobi92092 жыл бұрын
@@willengel2458 but not high enough to allow the top 0.001% to own more than half of the entire nation’s wealth. The tax on the rich should be at least 80% or more because their gotten "wealth" is not the direct result of individual labour.
@mottscottison69432 жыл бұрын
America opened the doors to immigrants because they have the criteria, their population problems are solved by immigrants. China has similar land area as America but 4 times more population with their own people, how do you expect China to open immigration like the Americans did? These people talk without thinking through first.
@Voxabonable2 жыл бұрын
After all these years, individuals still come up to Mr. Li with the same arrogance and ignorance. They just don't do thier homework.
@g.c9552 жыл бұрын
I think the other guy has been taught (or "brainwashed") that US system is the best so fails to see the flaws. I was in the same boat, thinking free market, neoliberalism is the best system.
@angkihermawan93222 жыл бұрын
Both LEFT or RIGHT sides of the economic policy spectrum are extreme and impossible to achieve, without swallowing the bitterness. The socialistic end stifles competition and economic motivation. It fails. The extreme liberals' capitalistic is creating a few winners, and the rest poor. Same result of aggregate poverty. What has been working very well is THE CENTRIST, trying to position exactly in the middle, to get the benefit from both Socialist and Capitalist concepts. Social Democratic GERMAN and CHINA is already showing that are winning.
@jamesho28172 жыл бұрын
The market has never been free, only made to perceived as free. It is always controlled directly or indirectly either by government and/or big venture capitalists.
@TheHzh822 жыл бұрын
It’s ironic how the Asian guy is speaking better English
@ashleymistletoe2 жыл бұрын
... and has much much better understanding of America than a western so called academic.
the statue of 'liberty' is built on a foundation of native "indian" bones.
@tschoong38972 жыл бұрын
America had common prosperity by accident, the rich American oligarchy employs American workers to make money in 1950. Then as American workers become more expensive the rich oligarchy moves its money to low paid countries in order to produce goods to make even more profit. Maximum profit was its base line.
@ivanlee28612 жыл бұрын
I find it so sad that the other intellectuals do not seem to understand the points brought up by Eric Lee.
@leoncioco33052 жыл бұрын
Li is corectomundo. America put their bet on d financial horse mainly, big mistake. Country needs industrial n financial prowess to be successful n resilient.
@angkihermawan93222 жыл бұрын
It is exactly correct. The economic growth in the USA in the last 4 decades is almost exactly the same as in China, around $13-14 Trillion. In China, it is spread to 1.4 Billion people, while in the USA only to 3.5 Million. Neoliberalism economy is like a locomotive train that runaway, forgetting the cars left behind. It is important to comprehend the basics in the economy that competition is important but it tends to produce a WINNER that takes all in the later stage. This is the danger. Because then, the winner, that is so powerful and very rich will force the democratic process to form PLUTOCRATIC or OLIGARCHIC. The general election will be so full of corruption, wrap in cosmetics makeup.
@nancytai15502 жыл бұрын
Eric is brilliant, patient & correct in his explanations. I agree the other person is rude & doesn’t know what he is talking about. It should be a discussion & not confrontation. His comments show his ignorance & his body language shows his arrogance.
@雨夕-o8c2 жыл бұрын
I don't know how much money wall street paid for this old guy, but I believe this old guy got paid from wall street!!!!
Another key to US prosperity is R&D and culture spurt. Many of the best scientists, artists, authors and other talent migrated to the US during and after WW2, which helped to boost its development, science, cultural output, education, etc and ultimately its economy. Of course power politics, military projection, and the control of global MNCs, financial structures and instruments, the reserve currency, Softpower, media, Hollywood and the export of influence, etc all contributed in making the US a superpower. The Soviet Union had a great military industry and R&D, but it lost in all those other areas. The US is still a very powerful country holding immense global wealth, even though it's become too arrogant and went the wrong way like Eric Li described. I understand the nationalism that many Chinese feel, and there's a lot to be proud of, but the mind must be centered, clear and know the strengths and weaknesses of China, US, Europe and Russia. To his credit, Eric Li has a calm, humorous, intelligent 理智淡定幽默approach. One challenge is the ability for China to articulate or control the narrative - the West uses a few terms that boxed China in, terms that make China different from the rest of the world. Instead of getting angry, one should be able to seize the opportunity, diplomatically, intelligently counter the narrative and 破解鎖定角色 break the mould that boxes China in.
Professor Dona should go and get richer in America, cos everything he mentioned is so much brighter over there. Please stay away from the dark autoritarian state of China. Then we can see how well him and Eric become in 10 years.
50s to the 80s for the U.S was a period of explosive growth in its infrastructure and the building of it's modern economy. On the same token, and let's not forget too, that Golden era in America was also plagued with exponential growth in organized crime, drugs and the development of the infamous projects/public housing in the inner cities where the poor and minorities were discarded. The notorious Italian mobs had judges, politician and the police in their pockets. While blacks living in the projects were getting hooked on crack. By the 70s came The crack cocaine pandemic was across all major cities in the U.S. Harlem, South Central L.A, Philly, Houston, I mean just all over!! By the early 80s president Regan declared Americans war on drugs.
美国开放移民,是因为它有廉价劳动力人口需求,所有美国移民都明白那是怎么一回事。其次,美国早期的金融是为实体经济服务的,并未从一开始就走向虚拟经济泡沫。The United States was open to immigration because it had a demand for a cheap labor population, and all American immigrants understand what it is all about. Secondly, the early financial services in the United States served the real industry economy and did not move towards a virtual economic bubble from the beginning.
@jianyuhua2 жыл бұрын
trust still exists
@troutstalker47442 жыл бұрын
Anyone here has the link to the full debate? Thanks.
Early one make mistake and let others to recognize where was the mistakes make then it called 'Wisdom' grow. or else ................... falling behind.
@victoews68422 жыл бұрын
China the builder has 18.47% of the world population. USA the bomber has 4.25% of the world population. This family of humanity ( the 95.75%) needs to discipline or at minimum contain it's belligerent bomber.
Eric li is correct that the large state initiatives aided development and entrepreneurial activity, but it was only one factor another important factor was the financial systems in which small entrepreneurs could receive private investments for their ideas as long as they had an idea someone saw as worth investing in, which meant that a lot more things could revive investment compared to a system completely reliant on state initiatives were only ideas in line with those initiatives are put into consideration. Many of these privately invested ideas can fail but others can be successes which would have not even been considered for investment in a system were investments come predominantly from the state. And the most important Charecteristic that the US had during that time period was its population boom, without a growing population its initiatives and its financial system/markets would have been much less effective in growing the US economy. And that is one major difference between the US during that period and China, the US population was growing rapidly while China’s population will not just grow slowly but soon will start to shrink.
@周铭涵2 жыл бұрын
Eric control this channel
@ankhmaathotep79132 жыл бұрын
400 years of free slave labor...
@鄭宗元-b2d2 жыл бұрын
這視頻太短了吧
@BL-db6xt2 жыл бұрын
Before the WW-2 there were many great engineers & scientist came to the US & participated in the Manhattan Project that built the Atomic Bombs dropped in Hiroshima & Nagasaki. These best brains also contributed to many scientific breakthroughs & technical innovations for American manufacturing base. After the WW-2 the US captured many Germany engineers/Scientists eg, Von Brown & more brilliant brains & entrepreneurs fled off their own countries that ruined by war. The US had a largest pool of talents, vast natural resources that stole from the Native Americans. Its world biggest manufacturing base manned by Americans & tsunami of refugees from all over the world. On top of these, many countries deposited thousand tons of bullion gold into NY. Fed Bank as a safe haven vis a vis a potential Atomic Armageddon from the Soviet Union. With these tremendous advantages that contributed by others than Americans in a backdrop of war torn world, there was no meaningful competitor to the US at all. In short, before & after the WW-2 the world resources had been allocated into the US, especially brains & entrepreneurship. The US economy took off & flew high. Thanks to outsiders. Now it's landing & might never take off the hegemonic flight again, it's too frail for a serious, competent & dedicate competitor.
I don't know how you think but that American man looks disrespectful.
@ashleymistletoe2 жыл бұрын
Totally. It's in his demeanor, the way he spoke and looked around. Disrespectful is an understatement. His bias and arrogance or even racism is blatant. It's all from his own ignorance of course and Li was being intelligent and graceful by not responding to his arrogance.
@BallyBoy955 ай бұрын
Lost brain cells after listening to this. Eric Li comes across as very empathetic and patient. Michele Geraci comes across like a smart ass with nothing to say but throwing unbacked accusations. I'm sure he's smart and has a lot to say, but it didn't come across here. Definitely needs to rethink his approach.
Nice to see that Eric is now falling in line with Xi Thought: Capitalism is now bad. He had a change of mind and corrected himself.
@pr0newbie2 жыл бұрын
He hasn't changed. He's always been of the same opinion from his videos 8-10yrs ago.
@bartonlee35942 жыл бұрын
@@pr0newbie Friend Prone? He's a venture capitalist. But he has discovered the truth and taken a new socialist line. He is much better now than before, in my most humble opinion.