How covid-19 could change the financial world order

[@TheEconomist]

Some of you have noticed an error in this film. We incorrectly used footage of South Korea when talking about China. Thank you for flagging our mistake-a corrected version of the film is being uploaded.

[@alfredoramirez-uw5ub]

Well damm don’t y’all check before y’all post!!! Get with the program guys!!!! Y’all be looking like cnn

[@Miguel-ly4bm]

Also, have a french guy talking about American economy. Yeah, sure.

[@alfredoramirez-uw5ub]

XVC in China jaja I know right!!!

[@jr.minimumweightldbc7177]

Slanted eyes, same thing! Long live the Dollar! 💪🏼

[@abditus5842]

Credibility is everything. You are supposed to be a credible publication and in addition to the footage problem they’re was the obvious bias. Soundly like a CCP infomercial.

[@hanamulugeta3601]

If you learn anything from history no one will stay on top forever

[@Melissa-zy6qi]

As the world wealth KPIs such as GDP per capita lock in the USD hence the cheapest the US is the more wealth the world will be. The cheapest he USD is the less debt the world will be. For example 1. GDP per capita. Let Say Iraq GDP percapita is 11K dinar. when Saddam was alive 1 dinar = USD 3.2. Meaning Iraq GDP per capita was USD 32,500. After Saddam was hung 1 USD = 1100 dinar. Meaning Iraq GDP per capita is only USD 10. So where is the remaining of USD 32,490? 2. Debts Iraq has foreign debts of USD 1 million. when Saddam was alive 1 dinar = USD 3.2 After Saddam was hung 1 USD = 1100 dinar. Meaning Iraq debts were 300K dinar in Saddam era. Now they were 1.1 billion dinar. Look at how scary Iraq debt default risk will be.

[@dangwood91887]

Very true. But if you look at the way the world has been progressing over the last century you’ll notice a system developing of a single world currency under a single world government with nations to act as states to the federal world government. The leaders of it? Just as the video said, those who control the money control everything. In other words, the global elite central bankers will rule this world but not in the shadows as they have for so long.

[@Steventorres01]

@@dangwood91887 and the Bible states that they want a one world leader

[@jimneysweep9810]

@@Steventorres01 they made up the Bible too

[@honkingantalope]

We should tax China and put sanctions on them. America shouldn't owe them anything for their garbage goods.

[@jdivision79]

It's going to be hard to become the world reserve currency when you have restrictions on your currency. It's very hard to get Yuan out of China, that's going to be a big stumbling block

[@nsebast]

Chinese here. Totally agree. China will surpass USA in almost everything in 10 years time - 2030. But to replace the $ as the preffered global currency is still going to be at least 30 years.

[@jdivision79]

@@nsebast Agree. Capital flow will be a problem for the foreseeable. Wealthy Chinese are doing everything they can to get their money out of China

[@bestintentions6089]

All money in china belongs to CCP , it's not hard to not see this.

[@lionellayon6588]

Anything about China is connected with virus. Manufacturers is moving out on that filthy country. The negative GDP of China shows weakness time to rest the dragon.

[@alexandredubois9171]

@@lionellayon6588 You should also move, but move from earth, this world don't need filthy people like you

[@tinahan4919]

After reading the comment section, I only have one honest advice: ignorance isn't the biggest enemy to humans, arrogance is; and it will come with a cost.

[@cassielban5144]

Can't agree more!

[@iguiste23]

Too true.

[@BJerry-lu3ro]

I like you already

[@Melissa-zy6qi]

As the world wealth KPIs such as GDP per capita lock in the USD hence the cheapest the US is the more wealth the world will be. The cheapest he USD is the less debt the world will be. For example 1. GDP per capita. Let Say Iraq GDP percapita is 11K dinar. when Saddam was alive 1 dinar = USD 3.2. Meaning Iraq GDP per capita was USD 32,500. After Saddam was hung 1 USD = 1100 dinar. Meaning Iraq GDP per capita is only USD 10. So where is the remaining of USD 32,490? 2. Debts Iraq has foreign debts of USD 1 million. when Saddam was alive 1 dinar = USD 3.2 After Saddam was hung 1 USD = 1100 dinar. Meaning Iraq debts were 300K dinar in Saddam era. Now they were 1.1 billion dinar. Look at how scary Iraq debt default risk will be.

[@dannyboii4949]

Exactly, the hedge funds and market makers of the world are about to learn the hard way

[@airy790]

If the economist can’t tell Korea footage apart from China, would you trust its analysis?

[@hanifhearts]

Economist is a mouth piece owned by the elites for their propaganda. I watch it only to find out what they want the world to believe, where exactly their narrative is leading to and what interests lie ahead.

[@zheli655]

Hahaha everyone is suffering from the pandemic. It's a tie

[@hancheng2732]

Just because one part of the visual presentation is wrong, doesn't necessarily weaken its final argument. Simple logic fallacy. If I said, ice cream is sweeeet (obviously wrong spelling), doesn't mean that ice cream is not sweet. :)

[@samreynolds3789]

Daniel Cho Does NOT MATTER! ALL EMPIRES, RISE & FALL , ALWAYS FROM WITHIN! Don The Con is BANKRUPTING Amerikkka- USA 🇺🇸, that WAS IN DECLINE long ago! His/His ENABLERS jobs is to FINISH IT OFF! He is MASTER of DISTRACTION & MAFIA Tactics ! Later IT may be INDIA! Either way, IF VIRUSES don’t WIPE Huemans OUT , the EARTH’S Environment WILL ! Do ya think the EARTH or UNIVERSE will MISS us !

[@hanifhearts]

@@samreynolds3789 In India too their masters have placed a similar goon who frequently cheats and lies. Modi. Both Trump and Modi are provided the same cliche blueprint for the destruction of their respective countries. Have you noticed that they both speak the same words and have the same actions within short time intervals? They are both provided the same strategy by a company called APCO.

[@SoraFan23]

This is going to be a rough decade I can already tell. Expect a lot of major changes to happen even after the Covid-19 Pandemic ends.

[@firstandforemost87]

Even after? All the big changes have yet to come. Once the dust has settled, the free money has run out, and millions can confirm they have no livelihood, that’s when things will really get noisy.

[@firstandforemost87]

Evan Koch I’m hoping for something much much better than what I am expecting...

[@davidmoore5004]

I should have invested into Bitcoin no wonder people were doing it so often years ago nobody can trust government these days they control everything wither they it's Capitalism or Communist it's all still about money.

[@davidpristupa1629]

@ESBEE there might be big changes there.Just my opinion.

[@jerrypeukert5732]

@@davidmoore5004 That has been true since humans first appeared on earth.

[@sourabhs14]

Slowly but steadily, "America first" will result in "America alone"

[@0649Hayes]

Profoundly spoken!

[@goldenvoiceofnepal]

instead of america first it should be china last

[@akiokoh7481]

@@goldenvoiceofnepal at the rate the virus is going pretty sure America is gonna be last

[@themarbleking]

VoN why?

[@aerojetrocketdyners-2538]

Israel first*****-

[@Dear_Mr._Isaiah_Deringer]

Gives a whole new dimension when American politicians promise to take SWIFT action.

[@Mapdotnowhere]

ᴅᴇᴀʀ ᴍʀ. ɪꜱᴀɪᴀʜ ᴅᴇʀɪɴɢᴇʀ; XRP is the solution

[@Dear_Mr._Isaiah_Deringer]

@Lord ballsac the 2nd Technically it isn't HQed in Brussels but _La Hulpe._ However it doesn't matter where they are headquartered because the entire ledger, Data center or whatever you want to call it is mirrored and synced in three places: Belgium, Switzerland and US (somewhere in VA). Now by that nature SWIFT is from an operational perspective subject to three jurisdictions. Banks could hypothetically determine to settle on the other two to be uncorrupted if one jurisdiction would go rogue.

[@Dear_Mr._Isaiah_Deringer]

@Lord ballsac the 2nd They are all locations of the SWIFT system. They are just data centers, essentially huge ledger where banks and other financial institutions (i.e. clearing houses) keep track of their transactions. Yes countries are jurisdictions, ultimately.

[@xavierzelda2940]

She's my trader my neighbor introduced me to her, now I get my needs solved by myself

[@ladderssnakes1755]

All PRC has to do is make a new gold currency in denominations of 2kg, 16oz,8oz,4oz down to .5oz EXCHANGEABLE AT ANY CHINESE PORT,AIRPORT,DESIGNATED OVERSEAS PARTNERS FOR THE ACTUAL PHYSICAL STUFF. And every numbered note can be scanned into an app to instantly confirm its authentic. THEN AWAIT THE END OF THE TOILET PAPER CURRENCY, THE US DOLLAR

[@shivaneepatell]

Well-planned economic crisis!

[@muskduh]

like all of them lol

[@bl6353]

guess when will the next economic crisis come?

[@nickn2794]

@@bl6353 Usually there's a crysis every 10-12 years. Last has been 2007.

[@TheDaleDalek]

Definitely overestimating the level of political and monetary stability in China...

[@asdfghjkl92213]

TheDaleDalek investors don’t think so tho

[@ericshang7744]

so far, shops opened, factories producing and people stated to travel again, money still safe in the bank and no one is printing trillions of $$ or borrowing trillions of debt... so yes, China is doing alright, don't you think?

[@dongliu7739]

@BiteSized Ask someone who is actually in China...

[@mikema7714]

@BiteSized you are just like saying there is an excellent student who got a high score in exam but you failed, you can only say: oh cmon man, it's totally fake! he couldn't get that grade unless he…………interesting:D

[@pakde8002]

Exactly. China manages to launch a bus into low orbit and suddenly the question is raised will China surpass America in space exploration. America has already sent two spacecraft out of the solar system and has very sophisticated missions mapping the surface of Mars. Anyone investing in China is doing so on a short term basis. The profits are parked in America.

[@vanshookme6531]

He who controls the spice controls the universe!

[@henri6595]

Dune!

[@subhransusekharmohanty2523]

I didn't get it.🤨🤔

[@viruchamp]

Lol !!

[@viruchamp]

@@subhransusekharmohanty2523 Remember East India company and it's business of spices ? During the age of imperialism .

[@news2hedz227]

@@henri6595 I can't tell whether they are referencing dune or the Indian spice trade?

[@oopszz4750]

Some clips that are supposed to be China are actually Korean, including the lab scene and bus disinfection. And the frame showing Chinese paying apps.... it’s an iPhone 4 I guess? A few apps shown on the screen have been obsolete for years... Use some newer materials to make videos, please!

[@Melissa-zy6qi]

That's how the western creates propaganda through their paid social media.

[@tevayawl]

Actually it’s not the bus, it was KTX train, express train.

[@waterloop12]

Why you picking on these? How are you so sure? I’m sick of seeing you hongkong or taiwan internet warriors flooding the media comments with distorts. Leave us some peace, go wreck some stores in your city.

[@tituskilonzo9766]

USA is worse and media bias.

[@Annnabannanna]

@@waterloop12 at 4:02 it was a korean street.

[@QueOndaWhey]

I'm so old I remember when The Economist was legit.

[@wongnaichungrd]

Those days are long gone! I stopped subscribing after two decades. Not enough rigour in their articles these days and too influenced by fashionable causes like climate change. Does the Economist really think the Chinese economy is not built on sand? An authoritarian one party communist state with the worst pollution record, worst human rights abuser, the world's chief cyber thief and The Economist really thinks it's going to be the world economic leader. They also have a debt to GDP ratio of over 300%.

[@王文哲-t3c]

@@wongnaichungrd ye, obviously you know everything better than economist.

[@wanakamac]

Que Onda Whey if you think the standards have dropped they want to know. However remember everyone is working from their home alone so please be kind

[@ExtraordinaryLiving]

@Oti Tororo ugari Huh?!??? Using Russia is a bad example ... because it collapsed [in the hands of U.S., gladly to say].

[@ExtraordinaryLiving]

@@王文哲-t3c Well, may be @chris gordon does ........ You know, in America, we all know that we have the *FREEDOM of mind* to think and believe whatever we choose; we do NOT have to bow down to some proclaimed "experts" and grant them authority [of info, in this case] and hold them in higher places above ourselves!!!

[@josecarloscosta5220]

What about trust? Can you separate it from currency?

[@alexandredubois9171]

jaja, it can, looks at US lol

[@shubhamchaudhary5309]

Ur talking about trust...when evry countries know about the china that they deliver defected products bt countries keep buying it

[@willrocksBR]

Bitcoin.

[@rikadomez8201]

Shubham Chaudhary conveniently forget the source of the 2008 financial crisis right

[@jdam7331]

José Carlos, great point Particularly in our side of the world there is no trust on the yuan, and there is confident on the dollar And this could change, but not sure how fast in latam

[@travis7609]

Tencent seems to have its hands in everything

[@keyboardmanyoutube3189]

Then you should look at Facebook again dude

[@reaudimills7947]

Well, Tencent is part of a whole dollar

[@drakeenviki1720]

reaudi mills Lm ao

[@ManojKumar-dk4sz]

Pubg

[@dougmorato]

Tencent is at least 5 years ahead of any social network company in the west. I use it every day here in China as well as Facebook and so... and WeChat is in just another league. It’s just a matter of time to become a world leader. Along with TikTok and Alipay.

[@luthernicholaus]

China got y'all dancing on TikTok and staying awake on Grindr 😅

[@yagirlllv3941]

Luther Nicholaus exactly, its predicted that China will become the main global superpower by 2050, if that happens the world would probably look a lot like blade runner or a very cyberpunk look to it

[@germanovicente4616]

Grindr is Chinese ? 😳

[@robbiekop7]

Only tick tock in my house is my clock ⏰

[@bepositive8255]

Luther Nicholaus You are one hundred percent correct.

[@alertaidiota6227]

@@yagirlllv3941 owO Cyberpunk

[@VISHALNIGAM1512]

Question: The Chinese banks have their assets in China, what is the quality of those assets, are the assets valued accurately.

[@ExtraordinaryLiving]

True! Remember that one canNOT trust China ... *the CCP China is NOT trustworthy!*

[@JL-yt5hy]

they have trillions of worthless assets.

[@benartee9493]

Valid question. The NPL Problem for Chinese banks is huge - but if the Gvt. Let’s the banks continue to exist and refinance themselves locally then this is not an issue. It’s a snowball system that keeps on rolling. Also because you can’t take your money outside the country.

[@denisebay1737]

ExtraordinaryLiving can we trust the US? Who put the info that CCP is not trustworthy into your head? Are you living in China? Have you ever thought about the possibility that you are brainwashed as well?

[@denisebay1737]

J L their assets are in Wall Street I thought? American government bonds for example

[@davetv4705]

America really needs to up their game as China is not sleeping.

[@leonesperanza3672]

China is asleep right now, dont wake them. If they wake up we might get covid20 galaxy x pro.

[@thedarkness5133]

Yeah, China is awake. Awake starting virus pandemics then trying to play hero with something it started in the first place..

[@csanton3946]

Nor America, China is dependent on US market for their exports, not only that they even have larger oil import requirements, no oil no growth. Thats why you have a trade war to make it harder for China to grow

[@Bob-bd6wq]

the funny thing is , all negative news about china are in american English, and all non negative news about china are in British or European English.

[@flyingdutchman6984]

👍👍

[@wmsantos6346]

Wrong, listen more closely.

[@Lisa-je2un]

It makes you think it's objective but the subliminal message they present is that China is the one benefiting from the virus.

[@jacksmith8289]

Thats why we should watch both news, and compare.

[@minlittle3253]

Finally I found the smart people .

[@kendrickjohn6473]

Stock is the oldest online market we have, we employed it because of the highest quality of services it renders and how successful it is.

[@lucasparker6464]

Businesses and investment are the easiest way to make money irrespective of which party makes it to the oval office.

[@ferdinandw.8038]

I invested in both gold and crypto but the crypto is more profitable

[@glennlewis5270]

The stock market has kept many on suspense from My prospective, I think investing in cryptocurrency will be a wise choice.

[@westbryson1452]

Crypto is new gold

[@leonardowilliam5892]

I think it’s a valid argument that the market is doing exceedingly well too for this week a relative to it’s past

[@devilred4847]

World reserved currencies? If only China open the book of her financial system.

[@JL-yt5hy]

lies, deceit and liabilities = Chinese assets.

[@user-wt4zw8mw3i]

THIS VIDEO is REVERSE !PSYCHOLOGY!

[@user-wt4zw8mw3i]

J L THIS VIDEO is REVERSE !PSYCHOLOGY!

[@JL-yt5hy]

Are you even going to try to explain your comment?

[@kunoichi301]

thats the problem their whole financial system like the chinese government is fraud lol

[@inigoro5177]

I'd rather have my savings in potatoes than yuans. I distrust that government so much.

[@stevesiringer1958]

Not disagreeing... But which Govt. do you trust?

[@inigoro5177]

@@stevesiringer1958 none, but dictatorships would be at the end of my choice, that's for sure.

[@jake567100]

Pumba how is that relevant?

[@inigoro5177]

@Pumba Where did you learn this childish argument?. I have no choice but to buy from China, almost everything is China made. Anyway mine is not from China, despite some components are most likely made there.

[@maxdc988]

Similarly, Chinese people have a distrust of foreigners since time immemorial, especially those who flaunt their self-righteousness.

[@cityinthesky1341]

I saw this video in its entirety, and I still don't understand how this pandemic will help China.

[@BBERNIER]

me neither xD

[@LunaJLane]

china is showing just how untrustworthy they are during this pandemic they caused. I agree that I don't see how any of this helps china.

[@FCCEO]

Why do you keep adding scenes of South Korea in this video? Isn’t this supposed to be about China?

[@MashiroShiina]

Seungdo HYUN where?

[@eze__95]

That one small clip..... And everything else was China, Hong Kong, London, America, and other parts of Europe..

[@Balakrishna-wd3wy]

🤣🤣🤣🤣

[@stevenwang9572]

Agreed, cannot figure out what do they mean for both chinese and koreans

[@jongeunkim9254]

@@sahilarora1986 actually gold has very little to do with it. This isn't the middle ages

[@Leftatalbuquerque]

Everyone forgot what anyone in the Depression knew: what is important is food and shelter. People on farms eat like kings. Give away your basic, bottom rung labour (farming, food production, real manufacturing) and you are subject to any disruption that comes along. Business is great so long as you have a consumer base that is employed and can buy your (distractions) goods.

[@spidersinmykeyboard6367]

The entire world should be terrified that an even more authoritarian, not to mention homogenous, government is gaining leverage in global economics...

[@carpediem6568]

Smart increases in global Chinese economic influence, along with its growing use of AI recognition and strengthening of authority rule, while the consequences of long term irresponsible Republican financial liberalism are showing its cracks, puts us both on a tetonic collision course.

[@sea2959]

what?

[@carpediem6568]

@@sea2959 China gets more authoritarian every day. And the use of AI recognition is Big Brother come to fruition, really scary. And while Republicans trashed our Treasury, squandered our wealth with never ending liberal tax cuts and economic incompetence, China used its wealth to invest around the world, buying influence and making alliances in developing nations. By the end of this year, the US will be at the limit of sustainable debt to GDP ratio, while China is barely breaking a sweat, as well as making inroads in world currency status. Can you see where this is heading? The AI technology is not relevant at this point, more of a conspiracy thing, I admit. But combined with cyber crime, it's a scary scenario to contend with, especially with China emerging in dominance. They have repeatedly stated they intend to take number 1 spot in the world. And Republicans gave it to them on a (fake) silver platter.

[@meklowthelemur861]

Classic example of "Greater evil" huh?

[@Pushed2InsanityYT]

Let's put an end to capitalism and live together peacefully as Humans and not Indians and Americans

[@billkampouris2286]

The title should be, How Covid-19 will be used as the pretext to a new financial order.

[@benjamintsebonego]

It's like a miracle.... It's going to one day disappear 😂😂🤣🤣🤣

[@PushyPawn]

Technically, he is correct that It will disappear. But because of a vaccine not a miracle and over several months not one day. Keep in mind, he is a 'special needs' president. At least he's not advising to shoot up bleach anymore.

[@banglaanimeproject9036]

@@PushyPawn Trump is an idiot....... Lol

[@snmrz]

@@banglaanimeproject9036 ya funny how China told the world there was no human to human transmission of the virus. Look at where we are today... Funny huh?

[@zidongwang8067]

Mehedi Sojib nah he is a miracle

[@thomasloiacono3816]

Crimson cause it spread to other countries. But china already knew of human to human transmission

[@richardsonkennedy125]

The world is gradually moving out of the, I work for my boss era and people who choose to be entrepreneurs are securing a brighter future for themselves,

[@sophiarhchard7999]

People are scared of investing because of the high rate of unprofessional brokers everywhere

[@antoniowright2496]

@@sophiarhchard7999 Yes there are unprofesionals but real brokers are still out there for investors

[@christianmuller9900]

@Victory Michael Really you know him?, I even thought I'm the only one he has helped walk through the fears and falls of Crypto trading

[@christianmuller9900]

Mr Gerald is obviously the best, I invested $3,000 and he made profit of $28,000 for me just in 15days

[@desmondlewis1359]

investment are stepping Stones for success..you are absolutely right waiting for the government to provide is a big waste of time...

[@MC_AU]

Historically, Chinah has been a cash ‘transactional,’ economy, flipping quick deals in real time to turn a cash profit for the CCP In order to compete with western countries over the last 20-30 years, they had to learn about the world of international credit. I personally think they overestimated their skills and the timeline. With CV-19 blowing back in their face the outcome is nowhere near as certain as they had hoped. It’s probably the only chance in time where the west can rebalance the books.

[@bloggerwithnoborders]

Transparency of information is the bedrock of trust.

[@mikerinaldi7170]

Bitcoin

[@nickplays2022]

Russians have digital wallets too. And don’t forget cryptocurrency

[@anatolyrozhkov851]

I'm in Russia and believe me most people here don't use crypto stuff

[@chloegeng1092]

Cryptocurrency is not very well accepted due to its unstable value and it’s mostly used by business rather than consumers. Besides many countries have digital wallets yes but China has turned it into the most common way of payment. You can hardly see cash or bank account payment here since a couple of years ago

[@szaki]

What's wrong with chip based credit cards? Every one has it?

[@anatolyrozhkov851]

@@chloegeng1092 sounds really impressive, but wouldn't it be like detrimental for the government and other services to encourage this policy? I mean like you can use crypto for things like money laundering and nobody would ever know.

[@nickplays2022]

Anatoly Rozhkov I’m not sure about that, there were cases of exposure of the Bitcoin owners for certain. But shell companies can use any payment system

[@youngz13o]

As the fall of a great empire occurs, you go through the same steps: 1. Rude awakening period 2. Denial - Disbelief of all facts 3. Anger 4. Exhaustion 5. Acceptance 6. Hit bottom We are at step 2

[@my9654]

Seems like a Chinese propaganda commercial

[@Ryan13HSE]

Sampath Reddy don't China money is like a miracle, it will disappear 🤣

[@prsarochen4583]

@Rakesh Bhat these two are all brainwash. Western medias make the people believe they are not brainwashed. However, Chinese know the media is controlled by the government. When they use ladders to see what the western medias say. Chinese find that these Western medias always report fake news about China.

[@fortunatocardenas]

TOTALLY agree with you.The economist is funded by communist money. Pathetic propaganda

[@juncruz9013]

@Liu Yuen Yee That question maybe you should ask China, and they will give you unusual answer - Donald Trump.

[@JL-sk8fs]

Everything these days seems like Chinese propaganda commercial...bunch of sellouts

[@AndroKiknadze]

Looks like propaganda

[@erdazheng5012]

yeah, anything positive about China is propaganda. How dare China to challenge the west

[@richie-l8022]

@@erdazheng5012 well，Do you really think u know the west?things are not it looks like ,there are lots of potential problems in westen society,dont even about china?different policy,different culture,keep staying in your dreams,china is future!it was,and it will be

[@carlwei7559]

@@richie-l8022 I find it amusing when fools drowning in their imagination, assuming others were extremists, but it turns out they are themselves.

[@carlwei7559]

@@richie-l8022 BTW, could you type in an appropriate way? You are doing it like a 90 on a wheelchair.

[@jankeerohankumar626]

I don't mind changes as long as no human is being suffered or killed.

[@thepoliticalanalyst6126]

This is exactly why they released this biochemical weapon on the world 🌏

[@intellectualaccountingsyst2033]

This is really counter to how China is looked at by the entire planet now

[@maxdc988]

Depending whether the person is wise or ......

[@usaslastresort1126]

Thomas Wong someone sounds butthurt MR WHONG

[@Degenevesting]

@@usaslastresort1126 you a 50 cent army troll?

[@Degenevesting]

@@maxdc988 another 50 cent army troll

[@tk9060]

@@usaslastresort1126 I know you think you're having a go at someone seemingly Chinese, but Wong is a Cantonese surname, from HK, who are probably anti China.

[@JULYXXIV]

The perfect storm...Also, we in the States don’t do “neutral”. We prefer the hegemonic approach to financial and geopolitical relationships. Apparently, so does China.

[@PhiloSurfer]

@@thonks8729 Who can be more authoritarian than Trump?

[@andresfeliciano]

This piece made me think, and I learned what SWIFT is.

[@Mii.2.0]

Phil Swift?

[@waleed8530]

@@Mii.2.0 international wires

[@donalddarcy1]

AL Jazeera just reported that the US Dollar is still the worlds most trusted currency.

[@redlion145]

@Michaelangeo Re Gold isn't a currency, it's a commodity. You can't walk into a department store with a hunk of gold and expect to pay for things with it. It's useful in a variety of applications, and that means it has intrinsic value, but it is neither as liquid nor as widely traded as currencies.

[@calgarycowboy2]

The world's most printed monopoly currency based on huge debts.

[@larryholou]

Michaelangeo Re Gold or any type of physical assets.

[@gvnlgn]

Someone paid for this report

[@joshua549413569]

of course because its pro-China. anything pro China is a propaganda

[@nothing9220]

It's normal reaction when you don't hear what you want to believe...

[@TIM123451ERR]

3:07 mark is not China but Korean

[@嘠嘎嘎]

nah

[@jung.k]

You mean the writing but yeah that is Korean they were in a hurry

[@tannedpotato5375]

Western medias are not worth watching. Known as a propaganda for a while

[@moron001]

@Alan Lee That makes me sick.

[@yyc3491]

They view all the square shape patterns as Chinese characters

[@hahaasia211]

Obviously no one from the Economist has lived long term in the last 5 years in China to understand the true situation. China's financial goodwill has extremely low influence throughout the world, with or without the USA. This is because of drastic cultural and political differences and aspirations from the rest of the world. There are severe limitations (often tightly controlled by the po_lit_burro and chief Winnie the Pooh) to using the yuan, China based bankcards, Unionpay, Wechat or Alipay both within and outside of China. Most rich people in China are always looking to move their money outside of China and in different currencies. As an American going into Bank of China in China to do basic banking you are treated like an inmate in maximum security jail. Can't use most truly international banking tools or branches if you are a foreigner living in China. Honestly, the worst part of living in China is the banking. Mobile wallets are also tightly controlled with transfer, maximum, and other limits. When you do step into banks in China, you will see anything from shouting matches between old people and agents, people playing phone games loudly on their mobiles, staff refusing to help you because of your nationality, people cutting in line, waiting 90 minutes in line for another 90 minutes of trying to do an international transfer. It's a complete mess. It's like banking in medieval Europe, only with modern technology. How is that supposed to convince the rest of the world to the yuan a try?

[@Yangbowendw]

You should check your spelling before pretending to be deep.

[@FriarTucksHeavenly]

I spent five years in Beijing, until December 2019, and I totally agree what you've written. TheEconomist appears to have done a 'Deal with the Devil' aka CCP.

[@FriarTucksHeavenly]

@@Yangbowendw t0 cent Army?

[@FriarTucksHeavenly]

@@Yangbowendw 50 cent Army?

[@Yangbowendw]

@@FriarTucksHeavenly Lol and u unemployed?

[@premiumpatiofurniture7159]

Many fair points but it sounds like an advertisement for China. Try getting money out of China and you will find it very difficult.

[@ErsatzGhost]

Yea this guy is a joke. Clearly paid by ccp

[@DeadTalent]

They are bought and paid for by China.... Try to wake up.

[@nunyabidnis3815]

@@DeadTalent Covid is still killing folks in the US.

[@larryholou]

01010000 01001001 01000111 well, I guess anything that doesn’t agree with you is fake news to you or paid by China, Russia, Iran, or North Korea government.

[@DeadTalent]

@@larryholou pussios like you are gonna crumble when men like me flip.

[@workingharder412]

Master yourself at this time. The money will come.

[@TheLegendOfNiko]

Working Harder Thank you.

[@polarspirit]

I master bed myself at home

[@alexandredubois9171]

I LOVE how they Try to make you think it is BECAUSE OF COVID-19. Let's be SERIOUS, it is only about US and trump, that may bring those changement and instability through the world.

[@continualvariability3345]

Huh? What do you mean?

[@erniellerena]

wha.....?

[@Gustav_Kuriga]

It's not like the US is actually "truthful or transparent" regarding its intentions either...

[@luiscuellar685]

It's a situation of the lesser of 2 evils

[@cecaloather8701]

So China which does not have a record of toppling governments, which does not have a global network of military bases, which does not interfere in the internal affairs in other countries, which last invaded a country 40 long years ago at the instigation of the US doesn't seem much of an evil to me.

[@dieweltstinkt5910]

9:27 "as the world recovers from the virus..." aaawww, sweet innocent May2020

[@Melissa-zy6qi]

As the world wealth KPIs such as GDP per capita lock in the USD hence the cheapest the US is the more wealth the world will be. The cheapest he USD is the less debt the world will be. For example 1. GDP per capita. Let Say Iraq GDP percapita is 11K dinar. when Saddam was alive 1 dinar = USD 3.2. Meaning Iraq GDP per capita was USD 32,500. After Saddam was hung 1 USD = 1100 dinar. Meaning Iraq GDP per capita is only USD 10. So where is the remaining of USD 32,490? 2. Debts Iraq has foreign debts of USD 1 million. when Saddam was alive 1 dinar = USD 3.2 After Saddam was hung 1 USD = 1100 dinar. Meaning Iraq debts were 300K dinar in Saddam era. Now they were 1.1 billion dinar. Look at how scary Iraq debt default risk will be.

[@CasperFiles1969]

@Drukstylz Get ready for lockdown. Atleast in the West as for the east is complicated.

[@rafaelcee6428]

As an economist, I don't know his analysis.. basing a none reliable data and current events..

[@spinalcrackerbox]

Sorry, your English is just too broken. Maybe you can fix it.

[@rafaelcee6428]

Oh really? Sorry for being so, but I think a person with a little brain can understand what I am trying to say.

[@parisn1fan]

He’s delusional. The Chinese economy is shrinking and people are struggling.

[@quin9627]

parisn1fan Yes, China has kept shrinking for forty years, only when you read the Economics.

[@gremlinlad3671]

spinalcrackerbox Maybe it’s just you. English is my first language & I can understand what he’s communicating perfectly fine.

[@allyyq1003]

I thought I could trust the economist for objective opinions. Now idk what I can trust anymore

[@Emira_75]

fushiizzles there was no subjective view here don’t be salty cos Trump is f*cking up America

[@louzynerd129]

?? they just showed you facts and information, take it or leave it.

[@vwgl1169]

to the original author/anyone who can guess- what about this was subjective to you ? genuinely just wondering bc I'm not sure

[@mousetoad7040]

@@Emira_75 No one with eyes can deny Trump was restoring the USA's economy in an unbelievable way. But we all expected a planned crash prior to the election to restore the path of global corporate fascism. After all, the US media couldn't destroy Trump, nor could the FBI. China provided the needed crisis to wreck Trumps economic boon. So now everyone gathers in the South China sea....

[@SuperSeigerman]

This is part of a special report that takes a deeper dive to this problem. The main thing is that America has been increasingly weaponizing our currency ever since 9/11. Trump has accelerated this issue but he did not start this. It's just that the more you become dependent on something to get your way, the better other people will get at countering it.

[@PeWangYolmo]

Culturally, China will never beat America/Western English culture. People forget culture aspects of world influence.

[@vincentdesun]

Culture wise, Chinese are VERY confident they have the upperhand. After all, the entire history of US is shorter than an average Chinese dynasty. There are much more wisdom embeded in the Chinese culture than anywhere else in the world simply because it's the longest continuous civilization on this planet.

[@PeWangYolmo]

@@vincentdesun mate, im talking about media, tv shows, movies, cartoons, books, english language, democracy, unspoken rules of life like. These things have more impact to the world. Yes, the chinese are strong in their intrinsic culture (lack of a better word) that keeps them embedded in their way of life rather than convert to western thought and lifestyle. But would you be interested in celebrating chinese new year, wearing the colour red for prosperity, using we char, being in a communistic society, speaking and writing in mandarin? Nope. And im guessing thats the case for 99 percent of non Chinese people. But half the world wants to speak english, listen to western music, watch western movies, be like western people, wear their clothes etc etc.

[@vincentdesun]

@@PeWangYolmo don't you know there are more Chinese than any other language beside English? Yes English is the most popular language, but that's mainly because Britain and then US have been the most powerful countries in the last 200 years. China's population triples what US and UK combined, people will, and many of them are already learning Chinese today. Of course the influence of Chinese can't match that of English today, but the upward trend is very obvious. If you have an East Asian face, you can go to any south Asian country and locals will try to sell you stuff with broken Chinese. English is the most popular language for now, but don't take granted it will remain so perpetually.

[@vincentdesun]

Plus, people are not interested in dressed up like western people, instead they are merely interested in dressed up like MODERN people, hence no one dressed up like cowboy or in Victorian style despite they are the most "western" look culture wise. In case you haven't noticed, Asian people have their own dress code and make up style, people in Tokyo, Seoul, and Shanghai (also many other cities) are well dressed and they look NOTHING like western people. Japan used to be considered am exotic eastern country for being the only rich Asian country with eastern culture, now if you add China and Korean (and soon Thailand, Vietnam) in to the mix, their dress code, living style and behavior becomes not an exception, but an alternative to western culture.

[@ranjankumarbaral6084]

@@vincentdesun Then why China has learned so little in those long years?

[@bipuldey91]

Money needs trust and China is in the opposite side of the word trust.

[@jaysaison8819]

China is a true virus in this world.

[@littlepandatravel8915]

economist must be paid well by the ccp to say this just like the who

[@rejviahmed7092]

well said

[@edmundstavrostsirimiagos2839]

Or perhaps you are in denial of the shift in the global balance of power

[@littlepandatravel8915]

@@edmundstavrostsirimiagos2839 u get me wrong, trying to be sarcastic , bad wording

[@edmundstavrostsirimiagos2839]

LittlePandaTravel Ah, I see - my bad

[@dixonpinfold2582]

1:40 "China hopes to correct this imbalance." That's loaded language. It clearly implies that more financial power for China is "correct." As astute and clear-headed journalists, with mastery over their both their thoughts and the language they use to express them, retire from The Economist, their ranks are not being reconstituted by their callow replacements. It's painful to witness.

[@joputhiyaparambil07]

You think single country dominated financial system is balanced?

[@DiddleDangle]

@@joputhiyaparambil07 They're saying that the choice of words makes it sound like they are supporting one side over the other.

[@joputhiyaparambil07]

@@DiddleDangle Why you are thinking that?

[@DiddleDangle]

@HMSBlackPrince I'm only restating what dixon said because Jobins put presented a strawman argument without providing any proof for or against their statement. I'm not arguing either way.

[@DiddleDangle]

@@joputhiyaparambil07 They're arguing that the language is biased, not that one side is necessarily correct or not. The biased language is the part that is kind of an issue if you're claiming to be an unbiased source of information. I understand that there will always be some form of bias though, I think they're saying that in this case, it's a very overt and obvious bias and almost questionable.

[@edjones3410]

China has a large population and has done well to progress economically in the last 10 years, however their authoritarian government stifles cultural and scientific innovation and this is their main hindrance. It seems they are keen to project their political power however they have many internal problems. Their misinformation during COVID has severely damaged their relationship with most other nations, for example countries like Japan are already moving their manufacturing out of china.

[@reremouse1157]

As for internal problems, china can't beat the US.

[@reremouse1157]

@Super Trap Just in your imagination. If it was for the cheap labors, why India didn't grow 30 years ago? The key success factor of China is that they paved the industrial basis: infrastructures, which India cannot obtain easily due to the incompetence of the democratic system.

[@larryholou]

Super Trap do you know anyone living in China? China economy is slowly shifting from low cost manufacturing to consumption economy. Companies moving out of China due to the increase of operating cost; that’s said China’s well-developed supply chain, logistics, mature workforce, and infrastructure continues to be the reason why many others remain in China.

[@reremouse1157]

@Super Trap I traveled frequently between China and the US in the last 10 years, and have never seen a sign of China's decline. Trump's trade war, along with other US sanctions such as GPS and Space Station, only makes china trasforms faster from a labour-intensive country to a technical power. You imagine too many disasters to china, but these "disasters" never happen in actual china. In contrast, Trump is tearing the US's society apart and revealing the weakness of their economy.

[@reremouse1157]

@@larryholou He just lives in his imaginations based on the misinformation from western media.

[@surefmeurope5766]

Hello New World Order, walk right in!!!

[@nealcausey9395]

Trump blames China. Meanwhile, we've largely done it to ourselves...

[@batista94110]

You decided to act on America first and back down of most global institutions. The impact is that while you step down, China step up and win influence on geopolitics. It will have a major increase on there economical growth!

[@jamesjpak]

100%

[@Brwnsugar]

And our government still lies and steals. All for 💰💰💰☠☠☠☠🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸👍👍👍👍👍

[@KootFloris]

Indeed, the GOP corruption, Trumps spending and global companies who don't care about the USA, even when founded within.

[@klchai7884]

Trump will make the world great by expediting the speed of varnishing of America, this will make the world great, the world will be more peaceful then.

[@chrismckellar9350]

China and Russia and lessor extent Iran are planning to set up their own oil exchange where oil from Russia and initially Iran is traded in Yuan and Rubles and not in US$. China's plan is to dominate global economics through its soft economic and/or debt diplomacy with debt ridden 1st, 2nd and 3rd countries under the Belt and Road Initiative so it can be the centre for global manufacturing through Chinese owned companies and supply chains.

[@powell6376]

Chris McKellar Sadly it doing successful. It expands its influence as even former US allies like South Korea or whatever riding the wave with these rising stars. USA is getting poor and less influence. Not even enough money for wall, have to rob military fund for this. With this virus, USA will be number 2 sooner than my expectation.

[@lLe0nx3]

@@powell6376 Trumps policies in regards to China are hypocritical either way. Man screams China bad every chance he gets, but deliberately leaves a power vacuum every time he decides to cut funds for something, be it who or the paris climatechange agreement.

[@autobotdiva9268]

@@powell6376 i dont want my tax dollars paying for a WALL

[@patri1689]

Make money out of thin air and loan it which will be a debt. And get the hard earned or real money of the debters.

[@chrismckellar9350]

@Rocko Benini - Nothing has change over the last 10 years except the USA is on the decline both financially and in world leadership more so since the Trumpkins came to power

[@2ezTimmy]

Never should China have the power it so clearly is striving for. Never should we give up democracy

[@alexli3308]

Fruity Salade Western democracy is a hoax introduced by gov and media to rule people

[@anne5761]

If you are referring to American democracy, thats been long gone mate. Was barely there to begin with to be honest. Take a look at Cambridge analytics, Koch brothers, the money primary, party primary, even polling itself etc

[@kengvang3062]

Democracy has already failed! Do you think we are an united country? America is broke and divided. Our government and political leaders have failed us. They only care about money in their pockets.

[@Malouco]

China was playing chess this whole time

[@elenitampaka3723]

So no one wants to discuss how it was "western" companies' greed that led them to move manufacturing to China due to their lack of human and workers rights which enabled them to manufacture much cheaper ? Because they didnt want to pay regular wages for their own people in their own country? and the ever growing rate of profit ? and now that almost everything is manufactured in China we act surprised that they hold the manufacture process of the entire world and no one considers that a risk ? Even urgent medicine that was required was manufactured in China ! We keep bashing the communist system and praise capitalism ..but this is what you get when they both work together ! You get a hybrid of the worst qualities of both systems - a "profit above all" mentality joined with "lack of human individuality" and boom..you get this!

[@Sayonara301]

True indeed! Above all, greed is the main factor.

[@dgilvani]

6 languages and 4 degrees All that education and you’re still an idiot!! 🤣😂 Amazing.

[@dgilvani]

Was it greed or self-preservation? All manufacturing was going to China. It was the only way companies could compete with each other. Libtards always act like making money is bad. Its actually the opposite! Wake up morons! Companies need to make profits to keep supplying the goods you want. Watch some videos on the current state of Cuba if you want to see life without capitalism.

[@tylerrasch1]

Why would you use B roll of Korea when you talk about China’s response? 3:04 is a Korean lab and 4:03 is the KTX. 이코노미스트의 품격을 떨어트리는 영상이네요. 실망하고 갑니다.

[@JK-bl9ct]

Tyler Rasch 앗! 타일러다!

[@moron001]

유명인이다.!!

[@searachen3285]

Aren't you the guy from that TV show?

[@chi__z]

좋은 지적이네요! 감사합니다👍

[@manishekharshahi9143]

He just forgot to add that every country is now in a mood to be self reliant. So it will definitely affect cheap Chinese goods imports

[@peterjabattack1]

No it wont. Theres a reason why no government is really denouncing everything chinese publicly

[@ryanwschneeberger]

@@peterjabattack1 I sure see a lot of countries denouncing China right now. Don't know how much you are keeping up with the news.

[@hirnspaltsaa5902]

Praising a country which was responsible for this disaster in the world? No thank you.

[@davidgertz7618]

i think it will go the other way , the supply chain will move out of China

[@obbcustomerservice1902]

David Gertz welcome 3d printers 😁

[@littlepandatravel8915]

then it would have happened more than 10 years ago

[@kevinm.5939]

I agree. While the US is failing in leadership, the international community is angry with China over this pandemic. Theres a growing cry for China to reimburse nations for the economy and lives lost.

[@zzhihuyvo7282]

Same here lol

[@kevinm.5939]

@Ahmad Razi products that come from China. China is known for mass producing products for cheap.

[@karwengloo361]

1) Were Chinese bonds resilient during the Covid-19 crisis because China has a somewhat closed capital account? 2) These digital apps that facilitate payment.... who else uses these Chinese apps outside of China? How will it undermine non-Chinese banks if no one else uses them outside of China? 3) These digital wallets that are developed by Alibaba, Tencent etc.... where is the money parked after you wire funds into the digital wallet? Dont it go back into the banking system?

[@grospipo20]

Yeah I’d like to see an full audit of chinese bank to trust them.

[@MACEDONIAbitola]

grospipo20 oh when was the FED Audition I think I Missed it ? Don’t make the FED the Angel they are From from that.

[@grospipo20]

MACEDONIAbitola I am not talking about the Chinese Central Bank! I am talking about their commercial Bank. But that is besides the point, the point is that China tend to inflate all their numbers.

[@wuhui]

Lol, let's all inject bleach into our veins too t o fight covid

[@grospipo20]

S G I get it you are mad because the Chinese economy is base on lies! Im that case don’t be mad at me be mad at your government

[@rev.andyh.1082]

Wow. ...Does anyone else remember back when The Economist produced rigorously researched, well balanced articles? This video feels like it was made by the smartest writer at “Buzz Feed” or Yahoo News.

[@blacknwhitehound]

I don’t think so ... China is still suffering greatly from cv 19 This video seemed very China centric . The dollar will be still best currency to invest in i doubt many American companies will invest in China post cv 19 ..

[@blacknwhitehound]

HMSBlackPrince I disagree it will be popular to be a non globalist again ... Trump has already made it clear he wanted disinvestment in Chinese companies for federal pension funds

[@yogatan9902]

In your dream...Trump just said it, but hard to make it come true. It’s all about interests, once those companies come to China, They can not give up the Chinese market

[@blacknwhitehound]

Yoga tan no the United States needs to disinvest in communist china if trump is reelected many companies will . China needs the United States consumer market ... I don't think it works the other way most American companies are interested in manufacturing.

[@timpet2274]

Following this whole COVID-19 pandemic I will go to extremes to avoid buying or supporting Chinese made products.

[@asdfghjkl92213]

Tim Pet I’m sure we can make some offers that you can’t refuse

[@hasan_z]

Doubt it

[@Gman979]

I am sure China will be bankrupt with your boycott. A 1.4billion market will be brought to its knee by your exceptional boycott.

[@martinmbokazi8372]

America has not been a global leadership in this pandemic because of the type of President they have at the moment

[@joaquinthais5221]

big fat facts

[@mousetoad7040]

This pandemic was just what was needed to take Trump down. The economic boom prior to this would've guaranteed Trump's re-election and thrown a bigger wrench into the plans of the international bankers and global elites. But the cat is out of the bag, it will be hard to force people back into the plan of slavery in a global corporate fascist empire. And China is still a brutal Communist nation with a dismal record of human rights despite it's prosperity. No one can respect that regardless of how powerful they become. Shame is shame. And their failure to deal with Covid19 has shown the impotence China's own leadership to the world!

[@joaquinthais5221]

@S G wdym

[@jn3750]

Inaccurate on too many counts. What a shame. The Economist used to be much better! Professional economist.

[@JL-yt5hy]

so true. i didnt even watch it.

[@Zergcerebrates]

Which part is unaccurate, or was it something that you didn't want to hear or accept that made it inaccurate?

[@ultrasonicradiation]

The report forgot about the Digital Yuan, a digital currency designed to make SWIFT obsolete.

[@ultrasonicradiation]

Mo`a 'Anbessa Ze'imnegede Yihuda Any currency is worthless without the backing of a major nation or organisation. The value of a currency is also dictated by laws of economics. If people are willing to use it as a form of translation, then the market will attach a value to the currency.

[@pf993]

@Mo`a 'Anbessa Ze'imnegede Yihuda the idea of a totally decentralised currency at its best is the same as true pure communism, an utopia that will never exist.

[@gracel9736]

Editors of the video don't even know where they got the videos from. 3:06 and 4:02 are South Korea not China. How credible:

[@belladesa91]

I don't trust US either since u comply with their policy or u'll find urself in their black-list with "terrorist", "national security threat" accusations, ecc. Who bullies who? No1 is innocent. Ever

[@kappa7749]

you are very special in your own way, you definitely have a gas leak at you're house cousing a lack of brain cells able to function seek medical attention immediately and from what you have just commented you are running on 1 brain cell seek medical attention now sir.

[@peterlai1985]

Report back again when most factories move out of China and millions of Chinese suffer from lack of jobs or income, especially when they rely ever so heavily on exports.

[@josetrisan8646]

why do you think that will happen?

[@linliu7966]

you're right

[@JL-yt5hy]

spot on

[@JL-yt5hy]

@Vaibhav Sharma the most tragic part is Hk will be completely destroyed due to China interference. They have ruined the goose that lays the golden egg.

[@JL-yt5hy]

@Vaibhav Sharma what policies are they?

[@nemo401]

"ITS GOING TO DISAPPEAR ONE DAY ITS GOING TO DISAPPEAR"🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

[@theboatman360]

China? It's too early to say. It depends if America retaliates after China started Covid 19 in their labs.

[@ScezSot]

It will disappear together with China xD

[@sydneyll7704]

Galbardio Nalali after you disappeared

[@bigiron7547]

DRUMMERドラマー lol what? You’re not even in the USA Many people still have their jobs Where were u at when Obama raises taxes so high that jobs ACTUALLY left ? Oh u weren’t paying attention then Bc it was hip to be politically active

[@ScezSot]

@@sydneyll7704 don't get me wrong, just the communist party.

[@kostyapyryev1865]

if British could keep their economy as strong as the US's over the last decades i would listen to what Economist thinks about financial world order. But that's not the case

[@chadadvice3707]

Kostya Pyryev did you just say US has a strong economy? Haha

[@kostyapyryev1865]

@@chadadvice3707 yeah, strongest in the world. Google it

[@absolutium]

@@kostyapyryev1865 You need to get closer to a college degree and farther from Google.

[@kostyapyryev1865]

@@absolutium And u need to get closer to... for example eastern Europe and farther from the USA to find out what weak economy really is and what strong economy really is.

[@absolutium]

@@kostyapyryev1865 Thats not weak economy that's exactly the same economic policies without a perpetual green toilet paper printer which dilutes wealth from everybody whose not owning the printer rights.

[@201sovereign]

Back to gold standard, or did the money issuing banks sold them off?

[@bobspizza7444]

I agree. The only problem is they have now made so much money gold prices would have to go to around 20k per ounce at least. It ya I'm all for it

[@flyingdutchman6984]

I want a seashell standard. I'm too old to mine for gold, but I can still pick up seashells.

[@LiamNI]

Quite a few issues with the info here.... 1 - China has capital controls, therefore will never be the reserve currency until this changes 2 - Alipay and WeChat Pay may be accepted in many countries, but is only usable in countries outside China by Chinese nationals with an ID and verified account, so for anyone else the availability is irrelevant There are more, but I'm already fed up typing on a tablet. Edited to clarify "outside China".

[@WillJ99999]

wechat and alipay is usable by anyone, dont have to be chinese....i'm not chinese and im using it now

[@LiamNI]

@@WillJ99999 are you using it in China? Then it works. I actually meant "outside China", which is not allowed for foreigners. Trust me, I know this first hand as I have both payment systems.....

[@WillJ99999]

@@LiamNI partially true, because it depends on each country. in my country, many banks have an application that allow any shops to be able to receive payment via wechat/alipay, so now chinese tourist (or me who have wechat/alipay) can pay with wechat/alipay if the store registered with the bank new application or any mobile ewallet application that support wechat/alipay payment (that isnt associate with private bank). though not very common now but its definitely possible in the future that it'll become a common thing. The only limit wechat/alipay have is that it must link to a chinese bank account, but now my country have 2 chinese bank open, ICBC and BOC, so there you go..... However i dont see them dominating the market of ewallet in my country due to the existing competition in my country, but i do see them being distributed all over the world in the future due to the abundant of chinese tourist travelling around, especially asian countries

[@LiamNI]

@@WillJ99999 I have 2 Chinese Bank accounts and can't use either wallet outside of China, even where it's available to Chinese nationals. I'd be interested to find out how to use it overseas if it's possible. Living in China is basically impossible now without one or both of them.

[@rudynathan8852]

The real parralel financial system of the future is decentralized finance and crypto

[@hospitalcleaner]

I believe so. We need a high level of regulation but the truth is, money is power. Once big tech gets control of our spending data our privacy will be incredibly compromised. They'll know what we're eating, medication, etc. Everything. And I see people opting into it, because of the "convenience"

[@ProperCBM]

@@hospitalcleaner Hopefully digital yuan coexisting with bitcoin

[@mikerinaldi7170]

@@hospitalcleaner Privacy coins such as Zcash and Monero address this issue

[@qjtvaddict]

hospitalcleaner it’s better than the corrupt banks. You don’t have privacy as the banks had your info for so long big tech is far less corrupt

[@ryibmu]

Solution: BITCOIN or any other decentralized digital currency.

[@Doty6String]

thats right!!!

[@rp8592]

Dayum right

[@hayley8907]

Yes!

[@嘠嘎嘎]

But by who? if it's not done by US or China, it won't get their full recognition. If it is, then what's the point?

[@nghianja]

You still buy Bitcoin and other cryptocurrencies using fiat money so no, crypto cannot replace fiat. You need a country or a group of countries to issue a new digital currency backed by gold or other assets. Too bad no country will do that as everyone is too invested in th dollar.

[@cidsww3928]

Glad to see some of the most rational comments with high level of intelligence and objectivity in the Western world! Glad to see people start to wake up and speak out!

[@hotbodtz]

What? the Yuan? I'm Chinese. I don't keep the Yuan. I don't trust China.

[@nuterra9143]

Swift: I am the law. Crypto: lol. Welcome to the future old man.

[@pakde8002]

There's an old man's adage you will remember some day. Actually two. There's a sucker born every minute and a fool and his money are soon parted.

[@cole4236]

Seems like the Economist is spewing Chinese propaganda imo!

[@chenyilyu3087]

Cole yep is a propaganda, keep dreaming

[@cole4236]

@@chenyilyu3087 With a name like that you're clearly not biased right?

[@jingwait1733]

did Economist take money from China for this video. I would not put my asset in China's currency where government is can silence you without due process.

[@ghkin6821]

They surely did. Probably in china s pocket as well

[@brendak.2790]

Let's stop to say "America" and start to say USA, cause America is a continent not a country.

[@silasdietrich7464]

Nice try snowflake but you're wrong. United States OF America, OF America (key point) America is a country. North America is a continent, South America is a continent. Did you ever hear them say North America? NO you didn't.

[@brendak.2790]

@@silasdietrich7464 North America is a continent? ??? South America is a continent???? 😂😂😂😂 Of course NO. America is ONE continent. You should study more geography✌

[@simonfester]

The Digital Yuan is currently in testing, a big point which you failed to mention!

[@JK-gu3tl]

Only a fool would buy a currency from gov't.

[@honeybeewarrior5731]

Don't want imagine money where the gov. Can take from you,another form of control,very easy to understand CCP phycology,control freak

[@brozuh2364]

@@honeybeewarrior5731 that is exactly IRS is doing.

[@admindadipancar5494]

​@@JK-gu3tl No... you will not buy it, you will only got a transfer denominated on this currency.

[@antonwalker1866]

there has to be more transparency in every fanancial system!!

[@freemind5321]

CCP will do anything to take over the global economy. They could make transparency in the financial system and after their currency dominate the global then they'll change it back to the previous (CCP) financial system and we'll all f*up. That's what we suppose to fear of and CCP is one big cunning firm, never let them fool you. Just opinion. Nohate.

[@randomdude189]

Anton Walker learn English first

[@AidenNyte1]

That will never happen!!

[@wuao1914]

well the US is transparent but only gives false data

[@altrag]

​@@freemind5321 China can't really "make transparency in the financial system." If they could, they would already have done so. Basically if they're as strong as they say, then showing that win is most definitely in the interest of the CCP who really can only retain power as long as China keeps growing indefinitely (which totally worked for the housing market around 2008.) So being able to show that growth would be a giant benefit to their image. The fact that the CCP is so opaque about such things suggests that they're not doing so hot. I mean I doubt they're actually _failing_ (that tends to become obvious very fast) but its likely the growth they report is both at least a little exaggerated but more importantly is probably built on a fairly shaky foundation, and exposing their cracks could potentially expose the risk of other countries (or even sufficiently funded companies or individuals) learning exactly which post to knock out to bring the whole thing crashing down.

[@thraciuspratt4915]

The Economist - rooting for villains and against the American People since forever.

[@achillesarmstrong9639]

But America is the giant villain in this world. This is consensus everyone agree right?

[@yaakov6399]

@@achillesarmstrong9639 china is mutch mutch worse, at least USA is a free country

[@SeriolaLalandi]

Why use footage of Korean when making references to ‘strict controls’. Koreans are not Chinese

[@cindyl.3699]

Korean and Japan are Chinese.

[@lastchangdepapa1247]

They are all descendant of chinese, get over it

[@extratrillestrial3949]

@@lastchangdepapa1247 With your logic we would call Amazonian tribes Inuits

[@teerificbitch]

@@lastchangdepapa1247 And we are all descendants of blacks. Get over it.

[@sugar_daddy_huang]

you don't understand what Asian's thought. Chinese like to consider all the Asian's into Chinese

[@sv4527]

Pariah communist CCP cannot be allowed to achieve this .

[@finanzalex]

Pariah communist CCP and Marxist criticize the capitalism so much but they want to become capitalist themselves. The Communist CCP double face and hypocrisy discusses me. it is like in the book of Animal farm. The pigs want to act like humans and run the farm in a tyrant way.

[@闽南人-x4r]

USD HEGEMONY replacing gold standard is the BIGGEST financial scandal in human history

[@davidmoore5004]

You think people who use Bitcoin will be safe from all of this?

[@mohdnohmajid6970]

The problem the US has with China is economics and the fear 😱 of being displaced at the top

[@edwardr8826]

China is an authoritarian state and philosophically at odds with the US. If Australia or Germany or Japan or India(for now) were theoretically in China's geopolitical and economic position I can guarantee relations would be solid or better

[@quick4588]

@@edwardr8826 It seems that most of you forget the 1985's depression of Japan when they were the second.

[@lh6063]

@@edwardr8826 LOL Those countries wouldn't be able to get to where China is at right now, US simply undermines it way before they reach to this point. Plus none of those country have the capacity to do what China does today.

[@vincentdesun]

@@edwardr8826 No it won't. Even if China become a democratic country today, US will still do everything it can to bring China down. US is not fear of being overtaken by a communist/socialist/Chinese-charactistic-system country. It is fear of being overtaken by ANY other country, period.

[@edwardr8826]

@@lh6063 India could in the future and the EU has an economy bigger than China's and the United States has strong relations with them. People are just too focused on Trumps rhetoric and his chest-thumping. And the US has really helped China's development it's really just since Trump that relations have been bad. The idea was that by helping China's economy they would have better human rights and the opposite has happened.

[@rongrongillustration158]

It’s a video about China but there are some footages in Korean... I assume this mistake could be a misunderstanding about these two different languages.

[@mikaelswede2]

strongly dissagree made in china does not sound appealing to me anymore

[@actondon6573]

it is the low price appeals your wallet

[@Leftatalbuquerque]

The Head Offices are in New York/Chicago/Detroit/Los Angeles. China builds to boardroom specs.

[@espoirt9586]

Use your expensive domestic product pls

[@lmiranda5428]

when talking about China why it's showing the footage from South Korea......

[@catcattuangmoo6017]

they're showing S Korea cos of high cost living,cos they're in big dept...so i've come to understand why,inflation i guess will happen again to some orhers it's getting worse

[@aweslayne]

Just bring back the gold based currency so these paper tigers won’t just print valueless bills