To Survive the Upcoming Recession, the U.S. Should Copy China | Professor Steve Hanke

[@Ellfman]

It seems what USA economists forget is that the USA looks at everything from a US Capitalists point of view, while ignoring the cultural difference between the USA and China. China doesn't view money and stock market the way the USA does, so understanding China from the wrong perspective creates a wrong understanding of money flow in China. That's why you hear American economists act confused why China hasn't crashed yet. China does Socialism with Chinese characteristics, and it works for them. The USA is different, and works for America, or rather crashes America every so many years due to Capitalism.

[@bradleyp3655]

Not allowing corporations and the wealthy to influence or dictate economic and political policy make a big difference. That is what China does. China is a system of collaboration, while the US and other western nations rely on competition within their political and economic systems. Which one is more stable?

[@whitewalker-sq7cy]

@@bradleyp3655competition? Nah… they cant compete that’s why their policies are more to protectionism now

[@icemike1]

No it doesn't

[@fractalart8352]

If you understood Communist China then you wouldn't say that it works for them. It did something and now it's doing something else. Like dissolution of a nation

[@tuber6382]

I thought having booms and busts is a normal part of the American economy. The creative destruction is what makes capitalism work. It is at the heart of the American economic system.

[@josue_kay]

Reality is, the US is fucked.

[@Blueblackberry-ex2xc]

Fuck the US? 😮

[@gabemccall3523]

@@josue_kay Oh yeah and China somehow is completely fine….. especially with that aging population….. lol

[@朱南进69-t8f]

​@@gabemccall3523what the matter? i try to understand and just found that you ignoring your parents when they are growing old but you just need their legacy (especially money) 😂

[@teatree6228]

@@gabemccall3523actually the proportion of aging population is much higher in USA surprisingly

[@Monkey341]

The US will never copy China's right policies but will go down with all its wrong policies due to its pride and prejudice against China. Even China's offer of a good policy of mutual respect, peaceful coexistence and cooperation for win-win situations was rejected by the US that chose enmity and confrontations.

[@ufuksenol2005]

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[@PineHosting]

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[@grizbaseball]

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[@FannyMontage-xu8id]

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[@amytuttle1621]

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[@quantarrow]

Cox demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@transplant-f3p]

The Chinese population appears to be supportive of the government. Having seen how conditions in China have improved I can understand that. The American public is very divided on its view of the government and its actions. The U.S. is standing still or even falling back while China becomes economically stronger and makes more friends. Some on America's "doorstep". U.S. actions contribute to its decline.

[@DubboU]

Is it any surprise? China encourages their people to stay together and work together to help the country grow, while the U$ constantly tries to get their people to hate each other.

[@fizzyfish-k4q]

"Appears" is the key word. There are consequences if you speak out against the govt or don't show allegiance.

[@Monkey341]

Not 'appears to be supportive', the Chinese 'are supportive' of their government!

[@richardgoh6697]

US may go d British Empire’s way as they have d similar political system, same culture, their politicians are almost having d same attitude in treating others ie. hypocritical, aggressive, greedy, arrogant, double-standards, selfish and like to take advantage of others etc etc.

[@qjtvaddict]

It would be much worse than Britain and may lose population in a big way probably 30% reduction

[@stonyman694]

Well said. d Agreed. d

[@Andrew-rc3vh]

This is not a thinkers forum but a forum for those suffering amnesia and need the thing repeating two minutes later!

[@RoyFJ65]

China has a system, and the general public follows as they know that its the right path to do so.

[@bearpolo3618]

As a matter of fact, it's more because there's just no other feasible alternative to the political system, which has been more or less the same in nature since Han Dynasty. Chinese people do complain about many things and the system is by no means perfect. However, Chinese people have learned throughout the history, there is no other better alternative yet.

[@MetaView7]

7:13 China's money supply increased, and so did the US. That was the beginning of Quantitative Easing QE, which ushered in the meteoric rise of the US stock market.

[@sarawilliam696]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[@brucemichelle5689.]

Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them

[@NicholasHarmon-ow3jl]

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[@PatrickFitzgerald-cx6io]

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[@NicholasHarmon-ow3jl]

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[@kevinlaw6191]

When the consumers no longer have money to consume, stocks will crash

[@turtlesoup8134]

The stock market has long decoupled itself from the economy. It is where the US recycle and store its dollars. It has nothing to do with the economy. The stock in China is a whole different ballgame, but also decouples from the real economy.

[@Code-N-Livestock]

100s of times during State department briefing journalist asked about dectorial situation in Pakistan but never got any reply

[@JmJmmmmm]

What does it mean when despite reducing the money supply of a country, the asset prices rise?

[@truthbearer888]

It is called greed and corruption in business and political leaders.

[@JmJmmmmm]

@truthbearer888 well that explains it! Kenya's money supply contracted yet land prices just kept rising despite growing business closures. Corruption explains this perfectly! The corruption is off the charts right now!

[@DailyBeatings]

As Alan Greenspan would say "irrational exuberance."

[@BrandyHeng007]

Talk is cheap , Actions is priceless If Americans can change for the better good then Leopard's spots can also change.

[@DorJinTan]

Imagine if pboc acted like d drunken sailors fed...

[@noneofyourbusiness5433]

I'm a staunch capitalist BUT you can't expect the poor and middle class to foot the bill for all the printing when the rich got all the spoils. That's really screwed up........

[@kl9518]

China is a developing country? More billionaires than the US. Best infrastructure in the world, high speed rail, automated ports, 5G in every village, space station, the largest automotive manufacturer in the world. 100% EV public transport in some cities. What happens when China is developed?

[@4-SeasonNature]

Average is the difference.

[@raymundogonzalez6450]

Wooow!😅😅😂

[@gabemccall3523]

Per capita…..

[@fizzyfish-k4q]

He's talking about income per capita not infrastructure

[@aaronyaunt9072]

The World Trade Organization gives extra help to countries that are considered developing, and actually wanted to no longer consider China a developing country, and China argued that they’re still considered a developing country because a huge part of their country is still not first world standards and should still be considered a developing country.

[@theansangong2659]

Everybody in China saves to accumulate their wealth its a cultural thing.

[@anthonyferris8912]

Money supply without velocity isn't going to help much.

[@Peter.F.C]

The quantity theory of money is not reliable at all. What the hell is he talking about??

[@makgeoff]

Dude, income inequality has little to do with money supply because the average Joe will not get their hands on it as much as the wealthy.

[@朱南进69-t8f]

so tell your politicians to be polite to the world or the world will ignoring you 😊

[@syed32701]

The Recession will be very Big this time.Bad time is coming to our country.Hold your money.Dollar $ will lose the value.

[@fizzyfish-k4q]

Yes. The party in the US stock market is already showing cracks. When the US dollar wanes, money will move out to other markets. Time to cash out your winnings.

[@tuber6382]

The real reason is because communism is better than capitalism but i digress

[@aaronyaunt9072]

China’s model is a hybrid of western capitalism and USSR’s communism, they try to learn from both and see where both failed, 50% of businesses operate on the free market and 50% are backed by the government, and they both have their benefits

[@witHonor1]

It's all 50/50 the way these guys talk. It will or it won't. There's $320trillion in debt and quadrillion$ in derivatives. What's the money supply and what purpose does it serve when we have plastic and digital? Economics is a dead religion.

[@arieksk]

LOL..

[@johnbts9216]

China is going to enter 1 or 2 lost decades. Pass😂

[@1bigleapoffaith]

Yts are too arrogant to admit someone else know anything.

[@AlmaMercer]

They've been talking about this recession now for 2 years and Powell , say the economy is booming and we've never been in a better place these people must live in an outer planet

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[@KhaId-x6b]

How please?

[@KeylorPaul]

Martha James..

[@KeylorPaul]

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[@GoodluckBlaq-n2i]

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[@PeterPark-v7v]

Her name rings a bell; I've encountered it multiple times, usually associated with stories of her trading achievements. She deserves a lot of credit...

[@williamg102]

United States of Israel