What a Deglobalized Economy Will Look Like

[@MoneyMacro]

Join me the 8th of April for a live masterclass industrial policy: mm-masterclass.eventbrite.be Or check out the recorded masterclass here: school.moneymacro.net/p/industrial-policy-masterclass

[@CirclingDuck]

Have you lost weight? Looking good!

[@ObeyNoLies]

Trump isn't going to raise tarriffs 60%, it's a bluffing tactic to make the Chinese reassess their position.

[@swampkatbrain]

Good luck with the masterclass! Hope you found something as useful as lactobacillus reuteri for your baby girl. We used the BioGaia brand for our colicky baby, worked a charm.

[@TWJfdsa]

Hello, I've been watching many videos about China. In Short- China is corrupt from top to bottom. From everyone ripping off each other off, stealing, polluted water, Tofu-Dreg everywhere, social unrest and economic decline to population loss. China is headed to collapse and revolution. How this will play out geopolitically is uncertain. I just found you so I'll be subscribing and checking out your videos. Do more videos on China if you see fit . Thanks.

[@lagrangewei]

honestly its just the west being dellusional, the rest of the world will continue to globalise and trade regardless of the economic suicide the US and EU is committing. just because we are not "highlighted" in the map, doesn't mean we don't exist. the west continuing to treat us as if we don't exist, forces us to trade with the only side that treat us as if we exist... surely you can see that?

[@swakal8868]

First rule of Geopolitics : There are no permanent friends and foes, only permanent interests

[@naydennaydev7071]

yeah, well, even interests are not permanent 😜

[@ajiththomas2465]

As a certain bearded Florida Man put it, "Countries don't have friends, they have interests."

[@evdeuretimhanem]

İnterests = oil😂

[@phillip76]

There is a big flaw in the video. I stop watching after that. The standard narrative is that the "west" is trying to make the world be more equal economically in the liberalization era. This cannot be further from the truth. The west have in mind what global trade is suppose to be: 1. Trade between nations is done by "western firms", the main actors. 2. The high value added industries are in the west, while low skill, low tech, and resource extraction is done in the rest. 3. Cheap production base for western firms, and cheap goods for western consumers. This is very hard to accept if you are China, or Russia and any developing economies. Why is it that they have to always occupt the lower end of the value chain? Most countries have higher aspiration than being factory workers, and producing cheap goods. China has been doing this for decades, but they now want to start making higher value goods, and this scared the west. This is why we have a trade war.

[@itsblitz4437]

​@@evdeuretimhanem😢 oil is overrated

[@Jamhael1]

As a Brazilian, all I can say is: THE MARKET IS OPEN, BABY! WHO WANNA BUY? WHO WANNA SELL? WE HAVE ALL!

[@scorpiovenator_4736]

Joga todos os lados ganha todos os premios

[@idromano]

So gostaria de ver isso sendo revertido em investimentos pro povo, educação de base, etc. em vez de ir parar na mão da elite financeira como sempre. #elitedoatraso

[@Jamhael1]

@@idromano SIM!

[@rogeriopenna9014]

There are some sports betting strategies which maximize gains by playing different results in different betting websites. You can still lose, but it stops being totally random

[@Jamhael1]

@@rogeriopenna9014 so, you prefer for others to bet and lose in multiple tables instead of recomending "don't bet at all"?

[@rakino4418]

You've given the northen part of the North Island of New Zealand a big haircut, but we're just happy to be included

[@mmarques2736]

#MapsIncludingNewZelandButAtWhatCost

[@Bike_Lion]

That part of the island is rather thin, so at the scale of the map here, it'd be tricky to show - being thinner than the black outlines around each country.

[@aniksamiurrahman6365]

U mean Australia?

[@Bike_Lion]

@@aniksamiurrahman6365 - No, they're talking about the "Northland" area of New Zealand - i.e. the thin part of the North Island that extends a good ways to the north of Auckland.

[@aniksamiurrahman6365]

@@Bike_Lion Thanks for letting me know.

[@EliHaNavi]

Interesting that you did not mention a fourth category of those who will benefit from increased fragmentation. That category is labor. Increased fragmentation will lead to increased re-shoring. While I've been hoping for more re-shoring than I'm seeing, I'd recommend looking and exploring this question as to the ongoing trends. For instance, there is already a requirement for data centers (and hence the technicians) to be located in countries that serve the customers of the corresponding databases; or at least be located in "friendly"/aligned countries.

[@dcklein85]

Do you mean less capital movements?

[@TheGroovyJones]

The US could easily end up near shoring formerly Chinese manufacturing from Mexico. There is some open ground for labor but the owners of capital will always go for the lowest cost labor available.

[@AUniqueHandleName444]

@@TheGroovyJones There isn't a ton of cheap labor left in the world to near shore. Yeah, Mexico is cheaper, but surprisingly not a cheaper than America, and if we nearshored even half of our imports from China to Latin America, it would probably end up making the US even more cost-competitive. Cost of labor per hour really isn't the only factor. There are also things like labor output per hour (quite high in America), energy costs, land costs, regulatory costs, political risks, etc. Mexico more cost-competitive than America for some things, but not by a lot, and in the last decade, America was actually the most competitive economy globally for most economic activity.

[@frantisekhajek6775]

I dipends where you live. In China or Eastern Europe, less export is a bad thing for workers.

[@syost87]

I wanted to hear more about the impacts on the US economy and the ideas of “friend-shoring” advocated for by the New Idealist school of geopolitics. I.e. - if allies are too dependent on geopolitical rivals (Germany to China and Russia), then countries like Canada might weaken some of their regulatory barriers to some activities/raw materials specifically for those allies in order to ween them off of rivals. That would reorient trade, not necessarily reduce it, and concentrate additional wealth in new/unexpected places. Also, growth in the Global South is still possible while decoupling from China, and that is precisely the area going through the demographic explosion while China/Russia are dramatically declining in population.

[@salokin3087]

It'd be worth considering whether or not this will accelerate and entrench regional trade blocks like in the EU and North America, and potentially ASEAN. South and South East Asia could benefit greatly as neutral trading countries especially as their economies have grown rapidly such as Indonesia, Bangladesh, India, Malaysia and the Phillipines. After all, they will gradually be the center of a new "middle class" of consumers and producers.

[@JosephSolisAlcaydeAlberici]

Nope, at this point, the Philippines is just an ASEAN nation-state member in name only and is now within the US economic orbit again.

[@somekindofhmm]

​@@JosephSolisAlcaydeAlbericiFalse. If you count ASEAN as a single entity, PH trade with ASEAN exceeds PH trade with the US on both the import and export front. While geopolitically PH needs US military support to deal with issues in the South China Sea/West Philippine Sea (so does Vietnam, Malaysia, and Brunei), ASEAN remains the top trading partner of PH.

[@matthewmatthew638]

​@@JosephSolisAlcaydeAlberici Pretty sure the Philipines see more trade and investment with China, let alone ASEAN, than the US. The reason that Phillipines wants security ties with the latter is due to misguided belligerent behavior by the former. Unless Indonesia or something goes ramming ships near PH natural economic/trading ties with ASEAN will win out.

[@RodrigoLopesBrazil]

if the middle man earns too much, the industrial policy will recognize them as part of competition. That position is quite fragile.

[@SaretGnasoh]

@@somekindofhmm whatever you said, you still cannot deny the fact that Philippines is a vassal puppet state of the USA

[@bonkersblock]

The global economics will be defined by “friend shoring!” You invest in countries that has no geo political and territorial interests against you!

[@MoneyMacro]

Let's see

[@bonkersblock]

@@MoneyMacro I didn’t wrote the word “evil” in my statement.

[@appa609]

Implying Mexico has no geopolitical ambitions contrary to America? Please. Mexico is merely weak. Mexico has massive historical and contemporary disputes against America. If Mexico had the economic and military resources of China, it would be launching a reconquista of the Southwest.

[@appa609]

​@@MoneyMacro This is a crazy claim. Were Germany, Japan and Italy on a "geographic axis"? Likewise, Iran doesn't even border either Russia or China. Nobody watching the video sees you label "axis powers" and thinks of anything other than "he's saying they're like the Nazis"

[@AweSean-wv3xo]

AMLO is like the most anti American president Mexico has had in over a century

[@AshkanPacino13]

As an Iranian I can tell you that we have one of the worst economies in the world, inflation is insane and people are struggling to buy basic food, we don't want to be "Axis", we want a normal relationship with the world and a normal country.

[@vitoanania6042]

Iran would be so much better off if didn't have the regime

[@rphb5870]

yes but that wont happen as long as America have anything to say

[@MarketsDriveTheWorld]

​@@rphb5870America and the west can 100% decide who doesn't trade with them and doesn't use their stuff.... No one stop Iran from trading with China or Afghanistan ecc.... 🤷🏻‍♂️

[@liveinsea1]

iran needs a corrupt pro west government like the one you had before. any iranian governemnt wants to keep the profits for the iranian people, will not be accepted by the west.

[@rphb5870]

@@MarketsDriveTheWorld I hate the term "the west" it is an euphemism for America and his vassal states. And America is a big bully that tries to control what everyone else does. It is not that America don't want to trade with Iran (and about 100 other nations), it is that he tries to prevent them from trading with anyone, to lay siege to their economy, which he have until now been able to due to his exorbitant privilege, of having what we call the world reserve currency. It have actually only existed since 1971 and was a pyramid scheme / ponzi scheme / racket from its inception. it replaced an older system called Breton Woods (1944-1971) in which he also played a central role but in one where he promised to redeem dollars for gold at a fixed price which kept prices and exhange rates relativly stable in the period. before that if we go back we had an increasingly better gold standard

[@sulamy1955]

Dr Joeri, you should make a video about the development/industrialization of the US economy in the 19th century. Many people claim it was completely laissez faire and the government played no role, but rarely we see the counter argument

[@felman87]

"Many people claim it was completely laissez faire and the government played no role" Well, we know this wasn't the case because the US allowed for slavery which was enforced through the government. With the 3/5ths compromise, that gave agrarian slave states like Virginia more sway in government policies than it otherwise would have. Then we have the Civil War with the industrialization being a key benefit in the North, with Lincoln starting the Trans-Continental Railroad during the war. Obviously, those rails would be placed around the more populous industrial centers, giving them an edge compared to less populated areas. It would be ignorant to say "Government played no role" because this was such a huge investment for infrastructure, directly benefiting some more than others. The question that would be curious to ask is not "Did government play a role?" but "How much of a role did it play?".

[@ryanshout8652]

@@felman87 the answer is govt played 73.567% of a role

[@baltulielkungsgunarsmiezis9714]

On the contrary. The USA was very protectionist and always worked to develop its own industry rather than importing from Great Britain.

[@markcorrigan3930]

America was made with tarrifs

[@bobmorane4926]

@@felman87 The usual propaganda is that free market societies are free of government interventions while authoritarian governments or communist thrive on government interventions. This couldn't be further from the truth if you pay attention to what's going on.

[@PAPO9609]

As a Mexican. I couldn´t be more exited about this new geopolitical/economical era. Our currency has appreciated 20% in 2 years, investment in the industrial sector has been massive since last year. China and the US are fighting over our strategic location and cheap labour. We are just racking up the profits for it. Cheers!

[@AtticusKarpenter]

And this is only right. Superpowers must offer good deals to countries they want to influence, not enslave/bomb/bury in debts

[@danz1182]

At present, Mexico provides a backdoor for Chinese companies to sell in the US. Make hay while the sun shines Mexico, the end stage of deglobalization is the US closing that loophole.

[@FOLIPE]

Yes this is good for Mexico, it can easily become the US's Poland.

[@PAPO9609]

@@FOLIPE Butthurt are we? Poland is not even a fifth of Mexico's total market economy lol.

[@hamzamahmood9565]

​@FOLIPE Typical European cope. America is the only major economy that has access to cheap labor and a healthier demography, something that will become VERY important in a deglobalized world.

[@Strykenine]

How economics made war obsolete: A Fairy Tale for Adults.

[@nicoruppert4207]

Especially with increased spending on arms creating increasingly powerful arms lobby groups. And we don't have to think twice to know what policies they'll lobby for.

[@mdel310]

War, war never changes.

[@moxinghbian]

At least economics made wars that aimed to improve economics obsolete. Individuals or companies may profit from war, nations no longer.

[@kallashnykov]

Marxism. The only scientific economics that makes war obsolete.

[@Strykenine]

@@moxinghbian I think you will find that this, in the long term, is incorrect no matter how much we might wish it were true.

[@urooj09]

Saw your comment about not getting enough sleep due to baby . Please take care . It will get easier with time i hope

[@MoneyMacro]

Thanks! It is already slowly improving :)

[@urooj09]

@@MoneyMacro happy to hear that

[@carkawalakhatulistiwa]

​@@MoneyMacroThis not allies vs axis but The west vs the rest

[@SaintSaint]

@@MoneyMacro sleep when they sleep. Tag team with wife. good luck

[@joserubio6417]

Awesome. Your videos are not dense.....they summarize really well the issue you discuss....congrats!

[@briskyoungploughboy]

Why use the antiquated military terms Allied and Axis? Dollar-Zone and BRICS-Zone.

[@ffbeexaid4509]

Cause he thinks of my country as bad guys? 😅

[@josousa78]

Should be the oppposite, the axis is the western countries

[@RitzCookie]

​@@josousa78why?

[@ej28]

@@RitzCookie Which country has overthrown countless democratically elected governments and replaced them with dictatorships? I'll give you a hint, it's not China.

[@liangqiang1133]

@@RitzCookie Because of the golden billion people, they consume too much energy.

[@mat3714]

Other, friendlier countries will fill the gap. It's not instantaneous but it's still gonna happen. It might ultimately trigger military conflicts ( hopefully contained in proxy wars ) but it also can iron out strategic differences in order to access opposing markets.

[@Jamhael1]

Brazilian here, and I agree - but also we here have a lot to gain thanks to our diplomatic neutrality.

[@sa.377]

let's not forget the risk of war which is one of the biggest and worst consequences of fragmentation / alienation / change of power dynamics

[@risingdough8078]

It seems to me that war, or preparing for it, is at the very least, highly correlated to fragmentation. That's the elephant in the room not discussed in this video.

[@AUniqueHandleName444]

That's my biggest concern as well. I would really, really like for us to avoid a world war 3.

[@somjrgebn]

​@@risingdough8078 Not discussed, he's calling nations Axis members and people still think the guys neutral...

[@dannydetonator]

@AUniqueHandleName444 Too late, it started over 2 years ago in full - if not militarily, then by any other powers it is all-out hybrid war. Only Axis, as always, wanted it, but history of the future will explain it. Today you can easily get lost, as there are more engagement with disinformation than trustworthy information in places. This chanell is the latter, but only presents a toned-down economical projection excluding rest of the hybrid-war factors.

[@kogorun]

@AUniqueHandleName444 You won't be able to, thanks to the adroit politics of USA and EU. Now every country sees, beyond the shadow of doubt and beyond any conditionals, that nuclear weapons are the sole guarantee of sovereignity.

[@nicbahtin4774]

Maybe protectionism is good for things like real estate. What's the point of globalization if people are out priced out of their neighborhoods.

[@baneofbalor5881]

I'd argue that it's worse, since the costs of raw materials will skyrocket. Maybe the cost of borrowing from high interest rates will bring demand and therefore prices down, but that may only benefit those who can afford the higher repayments.

[@gpeschke]

Yeah, very much like protectionism for housing. Industry is a different thing. Opposed there. We have all been suffering from too many people. The demographic effects of good medicine, and rural to urban shifts are done. Jobs being bad is fixing itself, assuming AI doesn't screw it up.

[@matthewmatthew638]

If we take 2017 as a turning point where the U.S started to move away from policies promoting globalization and free trade. From then to the present day the U.S economy hasn't particularly suffered with solid job creation and strong wage growth even with Covid disrupting everything. Add in what the EU is doing post-Covid and their economies aren't doing half bad (relatively) as well, even with energy supplies cut. That's not a causal effect of course but it is an open question whether promoting unrestricted free trade really benefits *developed* countries by making the proverbial pie bigger, or does it just open up the pie to be taken by developing countries instead.

[@gpeschke]

@@matthewmatthew638 there's a confound with the effects of baby boomer retirement/and China running out of people to move from rural to urban during that same period. But yeah, I am curious about the same question. What actually is the balance of things? Trade wars are class wars(the book) had an interesting take on it- arguing that workers that consume less than they produce are the problem, be they developed or developing.

[@tomlxyz]

​@@baneofbalor5881why should materials get more expensive when real estate is banned from foreign investment?

[@doujinflip]

So this is all basically a transfer of wealth from regular consumers and small businesses in favor of lawyers and corporations, all because a couple big markets feel like they deserve way more than what they've earned through the open market and have opted to pursue a strategy of geopolitical speculation.

[@SteveBluescemi]

To be fair, this is what people say about globalization too

[@nicoruppert4207]

Yeah, you can't act like the globalized system is somehow fair without favoring a select group of countries

[@stateofopportunity1286]

Globalization is nothing but global neoFeudalism. Sovereign governments converted to labor management devices.

[@tharcysiotatikawa2432]

What a shitty time to become an adult. Skyrocketing housing prices, a pandemic and many wars affecting food prices and now the estimates are that inflation will get even worse? For God's sake, I really hope it won't be as bad as it seems.

[@kanekv7504]

I honestly have some hope that it isn’t as bad as it seems, the internet and media profits off our fear and anxiety. Either way there’s nothing you can do, just do what you can

[@kenos911]

Inflation is getting better slowly but surely, politicians are just implementing their policy making to make it seem like it’s not, in hopes of fearmongering to get your vote. At the end of the day, make your life a fulfilling one every day, cherish the moment, the every day, and set your sights high. Don’t give up brother, it’s easy to feel anxious about today’s world but you got this 🫡

[@Miraihi]

@@kanekv7504 You're absolutely right. You need that fighting spirit to keep going, and to do that you must cut off the sources of pointless anxiety. In fact, this video is already one of such sources. It is interesting, sure, but may also bring you to the bad place mentally.

[@krisshnapeswanipeswani3190]

1930s 40s all over again. Good thing is that we know thay the ending will atleast be happy and the allies will win gain. Maybe third times the charm and autocrices are wiped out

[@dariogifc0]

I see what you did there at 0:02 -- not putting Hungary into Allies -- technically not wrong

[@MoneyMacro]

Sharp eye

[@morganangel340]

@@MoneyMacro considering how lame the westoid car makers are in the EV transition, Hungary might be the only car (EV) producer from EU in the future. 😆😆

[@MoneyMacro]

a true connector economy then@@morganangel340

[@justskip4595]

Ahvenanmaa isn't in it either. It is interesting how in so many maps that part of our country is being excluded from EU, NATO and now Allies.

[@Peizxcv]

The 2 Allied nations that fought the hardest and suffered the most lost in WW2 are labeled "Axis" while the 3 Axis powers in WW2 are labeled "Allies". This map looks like a WW2 fascist's wet dream

[@robalexnat]

Interesting choice of labels and country groupings.

[@ally6438]

Thanks for putting together a course. Love your videos, so I'm very excited to learn more with your course. Can't grab the live one, it'll be too early in the morning here in Australia, but that's all good, we're miles away from anyone, looking forward to the none live version though, just signed up.

[@brendansheehan7714]

Gotta love the way Ireland sits in the WTO graph at 6:30

[@boomerang0101]

Lol Ireland will be overrun by migrants soon. 🔜

[@draugrdraugr]

That's basically a show of wealth being hidden through the Irish tax heaven

[@Gizziiusa]

@@draugrdraugr heaven ?! hmm, guess it could be. A haven thats heaven !!!

[@Gizziiusa]

As if to say, EU...Europe ?! Fook All, we're over here past the Sino aggregate with USA and Canada.

[@shrimpmajo1]

Right on my lunch time, let's go

[@BigBoss-sm9xj]

let'ssss goooo

[@hello-rq8kf]

gura my dog died LETS GOOOO

[@hello-rq8kf]

gura my dog died LETS GOOOO

[@shrimpmajo1]

@@hello-rq8kf A fellow chumbud, I see. Keep frying rice like a good shrimp!

[@qawqaw1481]

what is a lestgo ???

[@agme8045]

Protectionism only works in large countries. Argentina has tried to protect whatever is left of our industry for decades, and let’s just say it didn’t go that well for the majority of Argentinians. Being 100% self sufficient is very very hard. Sure, we can cover the essentials, food and energy. But everything else is abnormally expensive (like clothing, tech(phones, computers, gaming consoles, etc), cars, and more niche food products/brands). The worst part is when the are high tariffs for things that aren’t even manufactured locally, so your only option is buying an inflated price.

[@amadeus0123]

Spot on. If there is one example of how protectionism fails, it would be Argentina!

[@peixeserra9116]

that's because Argentina is an economy that survives off of Luxury goods, and the Argentinian people (namely, your well off elites) had little to no interest in pursuing anything that wasn't that, for a myriad of reasons ranging from lack of interest due to the good state of their existing products, or just simply viewing anything but that as beneath them. Combine that with Ultranationalist governments that were constantly hostile towards Brazil and Chile, they've only made the situation worse by causing isolation. Compare yourselves to Brazil, who actually developed a solid enough Industrial Base of Raw Materials, Refining and Technology, even if not the best. It is no coincidence that Brazil has the most developed economy, alongside Mexico, in Latin America, became the Leader of the continent and likely will continue to be so. Argentina has now a golden opportunity to join up with it's Big Brother up North and join strengths and complement each other's skills, but it seems your country is more interested in importing as much as you can from the US. Which is just disappointing.

[@Akash-hq3gs]

I like that despite have India on the thumbnail and it arguably being the biggest winner of fragmentation, you never mentioned its name. Its better to be invisible while climbing the ladder.

[@HerrinSchadenfreude]

That's because India has shown thus far to be a fence sitter at best and a wannabe US at worst. Interested only in its own gain and liable to betray any hand it shakes. Showing up at the Swiss conference but then not signing. Co-founding BRICS but then still cucking for American business and pressing age old silly border wars with China. Preaching world peace but then voicing support for Netanyahu and refusing to back the ICC arrest warrants on him. If I were a BRICS founding country I'd vote India out because they're going to become part of the problem before they become part of the solution.

[@kirtimeel7852]

⁠@@HerrinSchadenfreudeI’m sorry what? “Fence sitter”? You’re angry cause india has chosen a neutral stance against wars that does not concern them? also “betray hands it shakes”, india had ties with Russia and Israel when the entire world was against them and still keeps ties with them despite various attacks from the west… also india has relation with both the west and Russia, the main reason it dose not vote for or against is so they don’t go against any of their partners that are on opposite poles…and “silly old border wars”, what are we supposed to do let go of Arunachal Pradesh cause china said so? Also india has given support to both Palestine and Israel equally is doesn’t want to tip over its ties with the Arabs or the Americans… and you have to understand something BRICS is not a military alliance it’s a economic alliance… it’s simply there to trade and develop their own separate economies… it seems you’re just angry that india isn’t an American sell out that would destroy its own country so the west doesn’t have to bother with fighting china by itself…

[@NitishYadav-lb7zc]

Mexico seems like biggest winner as there population is very less and there getting a lot of industries wrt that India will get most investment but it is so big that its effect would a bit dilute infront of them For example Maharashtra has equal economic output as that of Vietnam but still we know vietnam as manufacturing hub 😂 ❤

[@amadeus0123]

India doesn't produce much of what the world wants. It was, is, and will remain a domestically focused economy. It will maintain its share in service exports via an arbitrage on labor costs of an English-speaking workforce. That's about it. Don't see it producing world-class engineered products, in large scale, anytime soon.

[@jaykebeckwith7573]

You should not have named them “axis”. In WW2 Germany and Italy were the axis because: “The first step was the protocol signed by Germany and Italy in October 1936, after which Italian leader Benito Mussolini declared that all other European countries would thereafter rotate on the Rome-Berlin axis, thus creating the term "Axis".” It is tied closely to WW2 and the word makes no sense elsewhere. It also shows huge bias from an otherwise really well put together video. You should have just called them Eastern Powers or something like that. And this is coming from an Australian who can’t wait to see the defeat and Russia and China.

[@strangelylookingperson]

Nice of you to put on Russia-China area "Axis" mark, considering they actually sacrificed the most in the war against actual "Axis" forces. Very professional, not like cheap propaganda at all.

[@kryiptton3855]

Russia sacrificed so much in that war, starting with eastern half of Poland, right?

[@strangelylookingperson]

@@kryiptton3855 Well, I would redirect this remark to some contemporary anti Russian Ukrainian historian.

[@kryiptton3855]

@@strangelylookingperson explain?

[@strangelylookingperson]

@@kryiptton3855 Eastern Poland (or current Western Ukraine) was annexed by Soviet dictator Stalin. I neither support or benefit from this action. Main beneficiary from this was Ukraine, which nationalistic leaders and their followers, later, when Soviet forces retreated under pressure from Nazis, happily joined Germans and started genocide (mass killings) of local Jews and Poles on this territory. And the very leaders of this movement, Bandera, Shuhevich, who were main idealogical and organizational leaders, now praised in Ukraine as national heroes, both in mass media and in "academic" circles. Can't be the "Ally" if your close ally chooses Nazis as national heroes.

[@kryiptton3855]

@@strangelylookingperson i understand your point of view and I’m grateful I learned something new today. Yet I fail to see how this makes sense in the context where “Russia-China area …. Sacrificed the most in the war against the Axis”. Ribbentrop-Molotov means nothing then?

[@25Soupy]

The 1st 20 years of my life we lived in a fragmented world. I don't want to go back to that world.

[@oskars1419]

how old are you

[@isoldam]

@@oskars1419 I'm pretty sure that OP is talking about the economic blocks that formed during the Cold War. The Berlin Wall fell in 1989, so you can do the math.

[@oskars1419]

@@isoldam 56

[@25Soupy]

@@oskars1419 55 years old.

[@kogorun]

You vill go into zat vorld, as Putin told you to.

[@jonathanross6268]

I’m glad you are going to make a second source of information for those who haven’t studied economics. I love the in-depth style you present in your videos.

[@vix_ki_youtube]

Mate are you eating well? You don't look like you got meat on your bones. Eat more(healthy preferably) man, don't want you to end up sick...

[@jeremywhite831]

yeah i thought the same thing

[@MoneyMacro]

Thanks for you concerns. The problem is that our baby had a terrible time for her first year, causing me to be severely sleep deprived. It's getting a bit better now. So, I'm heading back to the gym and bakery from time to time ;)

[@Katzeblow]

Mate is Looksmaxxing, in economics it's called rate cuts

[@ascra1693]

​@@MoneyMacro harsh. Hope it gets better

[@Dogo.R]

​​​​​​@@MoneyMacroPlease remeber to sleep longer than normal if you were awake for longer than normal. Dont sleep for only 8 hours if you were awake for 24. I find this to be the dominant impactor of how much your sleep negetively impacts you. With regularity and interuption being below it in importance. Humans can learn to handle long days very well if they get an equivelent amount of sleep. I myself for almost a year did 30-35 hours awake "days"(compared to the typical of 16-17 hours awake days) and you can feel and look fine if you sleep hours reletive on your time awake. Note that aspects of your eating is also important. Whether your fasting or running on a recent meal can drasticly change how your body feels about long days. Smaller more frequent meals make longer days drastically more easy than big meals. Especially when you dont eat extra times if you are awake for extra time. Which you commonly see with people who have designated 2-3 meals a day that ignore how long they have been awake for. And lastly if you are having a long day try to isolate yourself from the sun. Its easier to feel ok with a long day disconnected from sunrises and sunsets.

[@jacobjones630]

You are by far the best Economics channel on KZbin. Thank you for your analysis.

[@g-rexsaurus794]

I understand the narrative, but describing the USSR and the Western Allies as one economic block before WW2 is quite the framing, considering Molotov-Ribbentrop.

[@LaugeHeiberg]

Whats that?

[@vipcypr8368]

Using the current maps to describe alliances 100 years ago is also not a good move. It looks like Poland was a German ally, despite of not existing at all and being occupied by both Russia and Germany

[@adhiwicaksono6149]

BRO THE ALLIES JUST OUT AND ABOUT SACRIFICE THE CZECH IN MUNICH

[@lolasdm6959]

@@vipcypr8368It can be said Poland dug their own grave, none of their Eastern European allies lifted a hand because Poland, a novel state who was constantly on the verge of repeating the Deluge, thought itself to be a second Polish-Lithunian commonwealth and screwed over everyone over minor interests. Nationalists will screw themselves over and over and learn nothing from it.

[@anivicuno9473]

​@@vipcypr8368 Actually, poland was a political entity through the entirety of the interwar period. After all, it was the invasion of poland that kicked off WWII in europe. Also, Poland was a Germam collaborator for all of big H's land grabs until poland. They shared in Austria, Czech republic, and Hungary.

[@lluc9946]

Free market and globalization until they start to lose 😂 When they are dominating, the market is free and competition is great; When they are losing, national security is paramount and market force is market farce😂😂😂

[@Ocho-y6j]

10 points for Gryffindor

[@jansenjunaedi4926]

Give this man 1 million social credit😅

[@brianh9358]

Let's be honest though. China to a large degree was never completely part of the free market. It was free market going out and very restricted going in. Sure some companies have had success there (Apple) but they had to resort to making their phones there. I could type an encyclopedia about barriers to trade with China.

[@lluc9946]

@@brianh9358 I wonder whether the length of your encyclopedia is actually that different from Japan and South Korea. Or even for EU. Anyhow, US and EU is acting more protectionist politically. Sad!

[@meetadi4u]

You have a free market but your competitor does not have and over subsidising their industry then yeah this would be the reaction .

[@kevincronk7981]

2:19 what's up with that map, Ethiopia was very much on the side of the allies, their war with Italy was one of the precursors to WW2

[@paullunsford8921]

That map is going to haunt my nightmares. It makes absolutely no sense. What in the hell is going on with Burma? Why is the Central Asian part of the Soviet Union not part of the Allies? There is no end to the madness of that map.

[@euancampbell7011]

Why do you refer to the west today as the allies and east today as the axis? Modern blocs are not what they were in the 40s. Using these terms seems to be creating a moral comparison. Which is a fair to believe, but its not an unbiased stance.

[@andrewharris3900]

Because the Axis were always Authoritarian states and the Allies Liberal nations. Same is true today.

[@Peizxcv]

Remember Bush's Axis of Evil? Calling anyone "Axis" today is an attempy to conjuring up image of Axis in WW2. Calling Russia and China Axis is obviously not a coincidence which is funny as they fought the hardest and suffered the most lost in WW2 while the 3 Axis powers in WW2 are labeled "Allies". This map looks like a WW2 fascist's wet dream

[@IslamBenfifi]

Westoids like to treat geopolitics as a role playing game where they are the good guys, then will call the other side "irrational". Sad because I thought Yuri is smarter than that.

[@kostasyian4788]

Axis is the West, since they push peiole to homelessness, addiction, forced vaccinations, sex changes to children, "assisted" suicide etc. Not to mention that ALL Axis powers of 1940 arel labelled "Allies" now.

[@restitutororbis964]

I agree, I enjoy this guy’s videos but anything non analytical of his is always a shit take. I only stay for his graphical representations and the logic he uses for economics. Politically it is a painfully biased western take. Not to say the “allies” aren’t even the “good guys” anymore. China and Russia are not Nazi Germany, at all.

[@Lelende]

Data is sort of questionnable. Particularly during the "first wave of globalization". Did "trade openess," measured by imports and exports, simply increase naturally over time as economies could simply produce more goods(due to the industrial revolution and technology in general) and thus trade more goods? It is possibly a mischaracterization to use imports and exports to measure trade openness. In other words, states may have simply had more excess goods to trade due to technology increasing output, and thus traded more, but were not necessarily more "open" or willing to trade with each other

[@patavinity1262]

Your attempt to represent the geography of the two sides in the First and Second World Wars using modern borders was... misguided.

[@RobotWithHumanHair.]

Holy shit that map is atrocious

[@davenobody407]

China has not been promoting de-globalization, nor has EU.

[@fightsports66]

I don’t think he was ever saying deglobalization was a plan. I believe he was saying it is a consequence or effect of increased political hostility. Such as Ukraine and NATO vs Russia has led to sanctions and sanctions decrease trade.

[@truth-uncensored2426]

China wants more globalization because it knows that it can dominate most industries against most countries in the world. Ironically today the most protectionist blocks in the world are the US and the EU.

[@mrjaratpon]

Please dont use allies vs axis. Because they are not axis they are their own alliance.

[@Giles20]

The West vs The Gobal South

[@Peizxcv]

@@MoneyMacro OMG, you are telling me you never heard of Shanghai Cooperation Organization or BRICS? Or simply cannot use East vs West?

[@EliHaNavi]

@@MoneyMacro They could be called Comrades (or, yes, BRICS). Axis is a name associated with Nazis and Bush W's genius ideas of going into Iraq to hunt for WMD. Perhaps, since neo-Nazi elements have been active in a certain Western-sponsored state (referred to as "democratic"), and the fact that von Braun as well as other WW2 Nazis were welcomed into the US with open arms, the term "Axis" might be applied to the Western block, as it is right now, with its idea of expanding NATO membership and spreading LGBTQ & feminist ideology. But hey, your trolling was good, kudos.

[@asier_getxo]

@@MoneyMacro until that let's just use the most widely known term for the most hated alliance of current times. I guess there were no more terms left. It's not propaganda, just randomness. At least east/west would have made much more sense historically and country-wise.

[@asier_getxo]

@@Peizxcv doesn't serve the same propaganda goal. He's just gaslighting people, when the goal is claerly to bolster us imperialist propaganda.

[@Llkc60]

one thing not covered here is that by the early 2010's globalization was mainly aiding US competitors chief among them China. While american growth was sluggish, public and private debt skyrocketed, social tensions caused by wealth imbalances started political destabilization and radicalization. A system that works well for economic expansion at the price of long-term security and growth should not be maintained especially when it is financed by debt that returns less than the actual credit. (just think of the Fed's QE ledger.) As it is covered in the material interest rates will be higher overall, and I am also expecting the price of government borrowing rates to go up even higher compared to reference central bank rates: think of the reforms on the us repo markets. What we see here is a re-prioritization of objectives where economic growth shifts from number one and security becomes priority.

[@FOLIPE]

It's natural that poorer countries grow more than rich countries

[@Llkc60]

@@FOLIPE it's natural that the hegemon takes actions to retain its leading position

[@Gwjeeper]

Really appreciate your ability to clearly articulate how economies function relative to real world scenarios.

[@DostoenVnimaniay]

13:34 - 13:35 I think there is a typo in the subtitles. A ladder not a letter.

[@moxinghbian]

I thought Subtitles were generated by AI?

[@MoneyMacroTalks]

​@@moxinghbianyes. But, I do generate them separately from KZbin and go through it once by hand to hopefully catch errors

[@crashito_x]

Mexico hearing little finger looks so happy 😂😂😂

[@feliksvrtovecmozina798]

I would be careful stating that reduced trade leads to inflation. Less trade also effects the GDP equation, thus the agregate demand (AD).

[@amadeus0123]

The chart on 6.29 mins...epic. Understood a lot about about current trade relations. Thanks

[@Aladhard]

To think everyone said there will never be another world war since the economy is so globalized. That graph and history says something completely different. 2:00

[@AbradolfRizzler]

Why are you calling them the axis? That seems like poisoning the well off the bat.

[@MoneyMacro]

I know it can have negative connotations. But, to my knowledge the name is neutral and refers to a geographic axis (originally the Italy Germany axis).

[@laurencefraser]

@@MoneyMacro Yeeeah... unfortunately its actually well known use in such contexts was initially coined as an 'axis of facism', and has been used quite often, loudly, and publically in the form 'axis of evil'. As a name for an alliance of nations it was never neutral. At it's most neutral it was explicitly a term used by facist leaders/propaganda to refer to the alliance of Italy and Germany in ww2. it's only got worse from there. It's reasonably neutral in general, as a description, right up until you use it as a Name for an alliance (or something vaguely alliance-looking) of nations opposing a seemingly-unified '"West' plus friends", at which point the neutrality goes right out the window, at least to most English speakers because it is automatically and immediately associated with Nazi Germany. The joys of language and propaganda.

[@asier_getxo]

@@MoneyMacro lol, you very well know what you did, don't try to gaslight people... Claiming that axis has neutral connotations is ridiculous. And no, it is not a name that was used in a far-gone, removed conflict. Everyone knows the implication of calling axis and allies (which very clearly has a positive implication, even taking out WWII context) to each block. And then if you take into account that every major axis power is in your "allies" block, and the two countries that suffered the most (china and ussr) against axis countries are placed into the "axis" camp, then it becomes even more ridiculous. At least if you had named it the other way around you would have had some ground to defend the naming... But I guess then the propaganda goal wouldn't have been fulfilled.

[@Ocho-y6j]

@@MoneyMacro so you think Nazis are neutral? got it

[@XDF745]

@@MoneyMacro If you know that it can have negative connotations then you know that it isn't neutral.

[@yellowishyoutubechannel3900]

As Indian I will say: We are Healing and Improving while being Fastest Growing You know soon BRICS meeting will happen in October Putin really want to introduce BRICS Currency And want India and China Leader to meet eachother they both didn't meet eachother since 2020 Every country going to see this

[@kxmapper]

Yea, it will happen in my homecity. Government here is trying to rebuild everything asap

[@XAUCADTrader]

Didn't realize this content was dense/heavy? I find this entertaining as some of my friends would watch hockey/game of thrones.

[@lematindesmagiciens8764]

As shown at 6:30 and as a Canadian, I am happy to see that I am part of the economic block that includes the USA, Mexico and...Kazakhstan !

[@kinseywk]

I'm super curious what that random KAZ arrow is all about. Are the arrows pointing in the direction of exports?

[@lematindesmagiciens8764]

@@kinseywk I believe you are correct. For instance, between Germany and China, the arrow points both ways. Germany being a big exporter of industrial machinery and China of everything else back to Germany. I am thinking of starting an export/import business, so I should consult with Borat?

[@my_master55]

Yeah, that was unexpected 😁

[@meteorknight999]

That wishful copium that kazackstan will be the next ukr by the merican delusion. I noticed US is desperate to include kazackstan everywhere with USA

[@FictionHubZA]

Kazakhstan 🇰🇿 super power 2025

[@pauladam2867]

Maybe you could analyse the economic policies of Geert Wilders?

[@kevin9794]

Have yet to watch the video, but just wanted to mention I'm rather turned off by the thumbnail. Calling it "axis" vs "allies" sounds rather sensationalist, and certainly biased. It implies good guys vs bad guys, unwarranted animosity. And beyond making a reference to the "allies" without Russia, which is passable I guess (Molotov-Ribbentrop did happen after all), calling it "axis" without Germany, Italy or Japan is disingenuous to history. That was THE Axis after all.

[@___________________________._]

I very much agree. I also wrote a comment about this, but you worded it better.

[@TheOriginalJAX]

@@___________________________._ You do know people like you 2 are the reason society is going down the drain like a shit soufflé right? nobody cares about your reactionary histrionic hyperbole underwritten hang ups about references to the 20th mid century ethnocentric enthusiasts because it doesn't matter no matter how much you think it does. Get a clue man.

[@thoracicfuture]

Important to note that Molotov-Ribbentrop happened after all other western powers also signed non-aggression pacts with Germany.

[@TheOriginalJAX]

@@thoracicfuture Oh look another stupid person obsessed with 20th century history and it's corrosive politics, after all the world needs more apologists for radical extremist ideologies that killed more people on this planet than anything else that came before it. only 100+ million that we know of. No big deal; for a death cult worshipper that is.... get a room.

[@asier_getxo]

@@thoracicfuture exactly. After the allies refused to sign a pact of protection against germany with the USSR. Stalin saw himself cornered.

[@nilaychaturvedi5243]

This is a far better channel than Economics Explained which has become somewhat pretentious. Grt job👍

[@frostbyte101]

Would love to hear your thoughts about price revolutions, and how the current one will affect economics

[@finback2005]

more like island block vs the land block. US led islanders are leading other small islanders to disrupted the land civilizations. Like what the Sea People did to Egypt.

[@nicoruppert4207]

Funny take tbh, but looking at Brexit it seems pretty true 🤣

[@gordonreid5603]

Excellent analysis as usual. I really appreciate your measured objective approach. Thank you!

[@Peizxcv]

Why is the 2 Allied nations that fought the hardest and suffered the most lost in WW2 labeled "Axis" while the 3 Axis powers in WW2 are labeled "Allies"?

[@IslamBenfifi]

Westoid logic in a nutshell. No wonder they call literal neo-Nazis and Islamofascists "moderate rebels".

[@meteorknight999]

Same reason canada "accidentally" called ukrnian ww2 german veteran that worked in genocidal ww2 camps. Time to accept faxicsm in fact won whoever fought them was useful whiteknight

[@MGZetta]

Fascist propaganda at its finest. They think they're the good guys. lol

[@Ocho-y6j]

Pro-West propaganda

[@grdev3066]

​@@Ocho-y6j agree

[@realruppert351]

Amazing channel discovered only today ! Thanks a lot !

[@blackmanops3749]

I think the increased self-reliance (re-shoring) in an increasingly multipolar world (fragmented) is an overall good. It does not necessarily fragment economies, rather it can strengthen national economies by providing opportunities for domestic workers and reducing national liabilities.

[@hubrismaxim]

The USA has always been one rule for thee and one rule for me. Forcing other countries to be open while being closed themselves. Still the free countries will be those who don’t align with unfree regimes(Us/Eu/Cn/Ru).

[@queenvrook]

Yet another Russian bot

[@hubrismaxim]

@@queenvrook How? Russia is a bad country like the USA. US corporate success has largely been from government funding and military imposition on the global south. Colonialists countries like the USA and Russia are oppressive and the enemy. I’m actually from the global south. Are you?

[@Dekken88]

This was very interesting

[@prestonjones1653]

Long united, the Empire must divide. Long divided, the Empire must unite. -Cao Cao

[@samedwards6683]

Thanks so much for creating and sharing this informative video. Great job. Keep it up.

[@anarkitty0]

Excellent Video, your Channel is a real Gem!

[@vladimirgorlin7510]

wow it seems we truly live in a historical time

[@Treyrizer]

Alright my favorite economist uploaded

[@rahmadisatriowibowo7019]

>Yemen, Serbia >not Axis >UAE, Israel >not Ally >Myanmar >not Ally but in Axis instead and The Military regime in Myanmar has The West interest since Aung got ousted because she was tied with China back then

[@EliaBecherer]

It’s insane how much the old and new axis have in common if you think about it

[@gerandace9]

I think you are wrong in using the terms axis and allies that's like trying to compare WW1 and WW2 making central powers the axis and entente the allies. There are no 2 opposing blocks for example BRICS, has different loyalties look at India, China and Brazil and UAE they have ties to China, Russia, America and EU. Similarly Turkey has relations with both the West and Russia. Europe also has big ties to China and still buys Russian products on a more limited scale. I will give you the benefit of the doubt but that's bordering on propaganda that everything outside the West is automatically evil.

[@dmitryburlakov6920]

Leaving aside the connotation of the "axis", which may be neural but usually is not, I think this is a major flaw in such researches. There's no just two sides, and Allies here, while vulnerable from the situation, are much more untied than BRICS/Axis/south you name it. Interests of China, Russia, India, South America and South Africa are very very different. To the point that they will have issues cooperating, they already do. Russia can't strike good deals with China, India maximizing on profits but doesn't distance themselves from us or eu, a lot of movements happening there in general, not all of the counties that are supposed to benefit see this dynamics of fragmentation as positive. While indeed it's a sign of fragmentation, it's not homogenous.

[@evdeuretimhanem]

U are best i am a teenager my dream To save my country from thieving presidents. U are adding something to me thank u

[@0xCAFEF00D]

6:30 This is just such a beautiful visual. Love it.

[@svenlima]

Interesting video. Thank you for not using background music.

[@hiddendagger7291]

Western nations putting sanctions on countries... Not allowing Venezuelan and Iranian oil to come into Market and then they say they support free market 😂😂 What a joke

[@Tanktaco]

I was wondering where his labor was going.

[@RafaelW8]

Finally, a new video from my fav channel

[@somedud1140]

4:22 But that wasn't first! When Russia annexed Crimea, West introduced sanctions against Russia, to which Russia responded with these sanctions

[@smivan.]

I think Joeri didn't look into the Russian economical events that much, this isn't even the only related lapse in information in this video, iirc.

[@kastus77]

The West didn't lift sanctions from China and Russia since beginning. So nothing real new. Just a peak of western fascism

[@ericjiang7986]

When Israel annexed Gaza I get it

[@StukovM1g]

You missed Malaysia out of the connector economy section. Malaysia has good relations with most nations and is already a connector economy, where Chinese companies outsource manufacturing, or finish assembly, in Malaysia to work around US tariffs and import bans.

[@amadeus0123]

Malaysia will do well imo. As long as it keeps the Islamic radicals in check. I

[@StukovM1g]

@@amadeus0123 I agree with you on this. I genuinely worry if we will be able to keep Islamic radicalism in check. I think a booming economy will reduce the number of people who will be enticed by radicalism.

[@mevans4953]

Please do a video on how prices would change if the states of the US were able to negotiate taxes and tariffs with individual states. For example HEB in Texas no longer imports foreign produce with California, and how would things change and become cheaper if the states were allowed to have individual negotiations for the best price while protecting their own home businesses.

[@inominado1774]

Oceania vs Eurasia

[@Thrawn0504]

Rooting for Goldstein!

[@hyperion3145]

Eastasia enjoyers:

[@sergejadam8860]

"Oceania has always been at war with Eastasia, has it not? " 😨😰😱

[@shuma3401]

Hi Money & Macro, Thanks for the video, but I have a concern regarding the use of outdated World War terminologies such as "axis" and "allies" when talking about BRICS countries. It gives the impression of a biased viewpoint, portraying non-Western approaches as "evil" or undesirable, which might be seen as promoting a specific political agenda. Let's aim for impartiality and precision in our discussions. Excited for more well-rounded content.

[@Peizxcv]

Remember Bush's Axis of Evil? Calling anyone "Axis" today is an attempy to conjuring up image of Axis in WW2. Calling Russia and China Axis is obviously not a coincidence which is funny as they fought the hardest and suffered the most lost in WW2 while the 3 Axis powers in WW2 are labeled "Allies". This map looks like a WW2 fascist's wet dream

[@asier_getxo]

the moment he said axis it stopped being well rounded and entered into the propaganda realm.

[@shuma3401]

​@@asier_getxo With the new thumbnail, he's really leaning into it. 🔄 It's intriguing why he's jumping on the resurfacing Cold War rhetoric bandwagon. 🚂 Many channels are joining in, predicting the downfall of non-western economies due to the West's deteriorating economic system fueled by high inequality, fostering an 'us vs. them' mentality. 😞 It's disheartening to see even a relatively unbiased channel like Money Macro getting entangled in this narrative.

[@joepvandijk7949]

You cannot separate economics and politics, so much is clear. Calling the "BRICS" "Axis" is really weird. In what sense do they look like Adolf Hitler's Germany? You can disagree with policies and wars (I do all the time), but mixing up terminology like this is really "evil" in its own right. An economics' professor should have some basic knowledge of history, no? Or at least he should inform himself better. And why is India not included in the "BRICS/Axis" of his? for the I in Brics IS India!

[@ej28]

@@joepvandijk7949 Literally put the 3 major axis powers in the "Allies" and the two hardest hit countries by Germany and Japan in the "Axis". Western propaganda gets such a free pass it would be funny if it wasn't so sad.

[@appa609]

Ah yes, comparing everyone we don't like to the Nazis. The "Axis" powers

[@ergwertgesrthehwehwejwe]

Hi russian bot

[@BuckNut-ck1sl]

@@ergwertgesrthehwehwejwe Hi western bot.

[@ergwertgesrthehwehwejwe]

@@BuckNut-ck1sl How's the weather in moscow Ivan?

[@BuckNut-ck1sl]

@@ergwertgesrthehwehwejwe I dont know but Im sure if you asked a Russian he will tell you.

[@jotororo2873]

Because the Axis powers of WW2 were characterized with autocratic/fasistic dictatorships and those goverment forms can be seen used by China/Russia/Iran/North Korea today.

[@uninstaller2860]

Maybe you don't want to focus too much on history, but I'd love to see a video on who were the winners of the first de-globalization wave

[@danz1182]

The benefit to so-called connector economies is likely transitory, sort of a hangover from globalization. As the blocks form and shut themselves off from each other, they have left open the channels to the non-aligned connector economies for the time being, but as the new normal crystalizes I doubt the blocks will tolerate middle-men profiting in this way. The US will eventually treat Chinese products that transit Mexico the same as it does Chinese products from China. That will lead to some use of shell companies to hide Chinese ties, but in the end the US will lock out anything that send profit to China. Mexico and India will eventually have to pick a side.

[@darkwolf8692]

True. In the long term Mexico and India will most probably choose USA. With the latter having significant border related issue with China and the former being USA' s biggest neighbour aside from Canada.

[@nitroxide17]

IMO, a country's economy/people is its greatest asset. More money means more soft and hard power. With that comes more negotiating leverage, more international respect... etc. In this day and age, relying on kinetic wars just doesn't get you that much.

[@kth6736]

If you have money you can get proxies to fight your wars ala usa and ukraine. If you dont have that much money then you have to fight your own wars ala Russia.

[@vicgoogle4514]

God damn such a good video

[@TheAshutosh58]

I'm a simple man I see incorrect map of India on thumbnail I press report

[@alexandergrishanin687]

Thank you for your videos!

[@Carl-Gauss]

3:49 Not just because of their beliefs but also because their campaign donors’ businesses benefited from opportunities to access cheap labor of developing countries.

[@АлександрГусев-в7щ]

Very nice for you to call Russia and China "Axis", and Germany, Italy and Japan "Allies". That's another level of historical inaccuracy. You can point out some other factual mistakes (e.g. Russia introduced ban on certain food products not after Crimea, but after Western sanctions for Crimea), but it's nothing compared to calling "Axis" two nations who lost the most people in WW2 fighting actual Axis.

[@ghgggx]

Today we have some evil dictators, like Putler, Xi, Kim, and Lukashenko. So why aren't they are axis, if they wants invading other nations?

[@julienhe4187]

that map at 2:23 is very bizarre why did you mark Myanmar as Axis. They were still a british colony and were invaded by the japanese?

[@kth6736]

They are under chinese control now.

[@fyang1429]

He uses modern maps for all of those. Just don’t take those maps too seriously

[@ninjam77]

It's a serious thing but when looking at a map like 1:08 or 19:00 I can't help but think "failed state alliance" when looking at the supposed rivals of the west. Like China is a serious contender and Russia, while no where near in size is somewhat significant but everyone else in that block seems to be in a pretty poor situation, from hyperinflation, massive numbers of refugees fleeing the countries, civil war and economic decline.

[@12undeadz]

I'm sure they look back in the same way. Remember there is a lot of propaganda from both sides between your view and reality of those countries. Nothing is as good or as bad as it seems.

[@Vitan89]

China is the biggest global economy by PPP stats.

[@appa609]

The real adversaries of the West in the coming century are China, India, Russia, Turkey, Iran, Nigeria, Kenya, and the Arab world.

[@ericktellez7632]

What is like having your entire worldwide made out of American propaganda?

[@sheepmasterrace]

calling it allies vs axis is so disrespectful

[@donhuang9855]

De-Dollarization is inevitable and will accelerate when other regional economic grouping such as ASEAN, the Middle East and AFRICAN nations join BRICS to develop their very own swap inter-currency arrangements, and using alternative SWIFT payment systems as a De-Risk” financial mechanism in order to lessen their exposures to the coercive behavior of the US government. The envisage goal of De-Dollarization is to dilute the global use of the USD down to 30% of global trade transactions and hopefully defang the ability of the US government to manipulate the USD via FED *interest rates / QE) intent on harvesting the hard earn wealth of the global economies.

[@colgategilbert8067]

Pretty decent summation and analysis. However, absent are the affects of regional/national demographics and the maritime supply chain which empowered both periods of globalization.

[@Bolognabeef]

I prefer the old videos style of narration, when you were much more specific in your technical terms and often cited econ papers, now you seem to have become just another "Economics Explained" channel who appeals to people with absolutely no experience in economics...

[@dannydxm]

Quite ironic given the earlier videos that would criticize exactly Economics Explained 🤣

[@MoneyMacro]

That is I think partially because most of my videos are about explaining what already happened while this about imagining what the future could look like. For something that hasn't happened yet, it's hard to find good academic sources. But that doesn't mean this video was less based on economic research. The 5 channels of fragmentation are all from an IMF research paper which I reference. The speculative section about winners and losers is about what research so far has shown to be the consequences from previous fragmentation events rather than me just speculating. Anyway that is how I tried to still use as much research as possible. You can find all of them in the script on my website as always.

[@Danji_Coppersmoke]

@@MoneyMacro Fair enough.

[@stefanusunicorn7483]

In my eyes, USA being too strong at both hard and soft power is seen as a threat to other nations. It can punish many nations with economy sanction that not many can't survive unscathed. It also strongly against anyone having nuclear warhead despite they were the one whoiinitiate it in the first place. They alrdy caused 2 major global financial crisis in the last century. They also initiate the global adaptation of fiat currency that look more like a giant ponzi scheme. After WW2, sure, they were seen as the only nation that can lead the world toward economic globalization. But now USA is more like a giant powder keg that can explode anytime. In actuality, Russia and China act as counter-balance against USA, to keep global peace maintained by MAD intact. But who knows how long it can last?

[@Art-is-craft]

I think you mean the rest of the world used Americanisation but the reality was the rest of the world was not in good shape and that just papered over the cracks. Using a global inventory system developed and run by the US was a horrible idea for many countries that simply did not have their own native industries to rely on and instead used a foreign model that did not address their base issues. The US is the worlds most stable power yet those that ignore it do so at their owner risk and that includes most of the world.

[@ultrasupernectar]

good content with slow delivery, but I loved it once I turned the speed up to X1.25 in the settings

[@SilverScarletSpider]

In a deglobalized economy: bilingualism will be key to each faction’s survival and success. If the USA and China keep investing in Mexico 🇲🇽, it is likely that through cultural exchange off shoring to mexico from china and near shoring to mexico from eu and usa, then Mexico will become a global world power before Brazil, Indonesia, and India

[@jakesteele7784]

Bro really went and said axis

[@somjrgebn]

Just makes me trust a channel less when they use Western propaganda terms.