Why Does China Manipulate its own Currency?

[@swagmanners]

Can Jerome Powell and his money printer defeat the Chinese, find out on the next episode of Dragon Ball Z

[@economicsinaction]

That's an episode I'd watch

[@Tenchinu]

Not unless he goes Super Powell 3. Market probably need a couple of senzus too.

[@Dango428]

@@Tenchinu And a yamcha death. Every story in dragon ball needs a yamcha death

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@Tenchinu]

Dango428 1 Yamcha death = 1 prayer

[@spaceboi231]

you forgot to mention that when China buys foreign currencies, those currencies increase in value. While any single spender normally wouldn't affect the price, the Chinese government can move around so much currency that they can manipulate the currencies of *other* nations on top of their own, but to a more limited extent.

[@QuestionEverythingButWHY]

In alternate universe, Dale Carnegie wrote “Don't be afraid of enemies who attack you. Be afraid of the friends who flatter you.” ― How to Win TRADE and Influence PRICES

[@leeoswald668]

Dale Carnegie title, I went to the comments to find who knows it too 👍

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@tren-y2m]

@@Melissa-zy6qi That is a completely different question and an open-ended one at that. You're better off asking it in a political Subreddit or community

[@Samuel-th6fw]

US: "China manipulates currency. It's unfair!" Meanwhile FED: "Hehe, money printer goes brrrrrrrrrrrrr!"

[@faustin289]

This comment is underated.

[@jordanknight336]

bruh he spent the whole second half of the video explaining the difference between the two

[@HR15DE]

yeah how is this not a currency manipulation ? dollar index is at 92!!!!!!

[@Samuel-th6fw]

@Stephen Jenkins It's the comment section, don't be so serious about everything.

[@Clement3121]

More like Venezuela....

[@mingweing8081]

Ah yes, puns for the intellectuals "How to win trades and influence prices."

[@FinanceOptimum]

😂

[@Inquiring]

Finance Optimum Your channel is great.

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@dr_zyzz]

Melissa WANG they’ll probably take over our oil fields, set up more bases, have more control over Iraq... etc.

[@viveksalotkar839]

@@Melissa-zy6qi occupy iraq

[@vanivanov9571]

Effectively, China subsidizes their buyers/sellers, reducing prices. That's a much simpler way of putting it. At that rate, if someone else is paying, you should just buy all their stuff and sell it at a profit. The money you generate and labour savings can be used to invest into your own society.

[@WildsDreams45]

I didn't realize cheating was a thing when we talk about winners and losers in an uncontrolled environment.

[@FingeringThings]

Do a video on the economics of patreon supporters

[@aussieboy4090]

China's centralised bureaucracy allows it to make swift radical changes and adjustments in its economy.

[@gregtaylor8073]

Doesn't the US manipulate it's currency through the Federal Reserve

[@dennisp8520]

The federal reserve isn't ran by the government. The decisions it makes is entirely separate from the US government itself. The currency itself doesn't get manipulated like the Chinese government does things.

[@DJPleasureSeekingMissle]

Yes, it’s called Quantitative Easing

[@samkalapseudo8998]

@@dennisp8520 keep dreaming

[@zeus907]

@@dennisp8520 That's bullshit. Look up the website of the federal reserve. It's www.federalreserve.gov. What does gov stand for? Also, its board members are nominated by the president and confirmed by the senate. Pray tell what kind of private enterprise free of government control would have such a structure in place.

[@dennisp8520]

@@zeus907 oh god, please help this poor ignorant soul. The federal reserve is literally doing its own independent thing. The president, Congress, etc don't have any say over its montary policy. That is different from China who littlerally can have their leader snap there figures to change how the money is being printed and so forth. www.federalreserve.gov/faqs/about_12799.htm

[@thecircuitofthecars8028]

Showed an Apple Store when talking about local industries 3:18

[@akashpanthi2917]

one question In Nepal,Nrs 50000($416) can be a decent earning covering all my expenses(rent,education,water bill,electricity ,savings,...). But if i want to import suppose an iPhone, it would take me full two months and a half. But in USA, around $5000 is considered decent which might cover the person's full expense. But here the person can buy an iPhone easily from a months expense.What causes such a disparity?

[@RosscoAW]

More China! It's both exceedingly informative (for Western audiences, who don't usually get much exposure to...depth when it comes to China), and the contrasts with Western economics elucidates what we often take for granted.

[@Somnxm]

8:46 That'd be one powerful rig 👀

[@businessguide6219]

As always, quality videos right here!

[@thomastieber4948]

I don't understand how China can manage to dictate the price of RMB to USD when there are other currencies involved. Would't that mean that they would have to change the exchange rate for other currencies as their exchange rate changes to the USD? For example: 1 USD gets you 5 RMB from China, and 1 GBP gets you 3 RMB. If on the normal market you get 2 GBP, you could trade 1 USD to 2 GBP on the free market, and then trade it for 6 RMB from China, with which you can get more than 1 USD. You can repeat that for as long as the exchange rate from USD to GBP on the free market reacted to that increased demand in GBP. Am I missing something?

[@wigglebot2368]

Yes, it would also affect CNY versus anything else

[@gabrielavila2884]

Where are the citations listed? In the description?

[@hotchi1566]

Manipulate its own Currency? The Plaza Accord: hold my beer.

[@OtavioBecker]

At 7:08 you can see a Black car making an illegal u-turn

[@mulllhausen]

4:23 "but if the japanese manufacturer had to pay a 30% import tarriff then they would have to pass this expense on to their consumers, making their car just simply too expensive for most households to consider over the domestic manufacturer" - tarriffs are passed on to the consumer - why does nobody understand this?

[@blah23vr234v]

because they aren't always passed on. It's far more complicated than that. I don't think the guy that makes these videos really understands the trade aspect very well. There are many factors that go into it, like companies cutting other costs, countries devaluing their currency to compensate for this, or even just outright eating some of the loss. It gets even more complicated when you factor in that tariffs may only be on one country, and therefore supply chains simply shift - an example of this was bicycles from China with the EU, and washers/dryers or whatever it was that were targeted with anti-dumping duties (tariffs) by the US. And yet another complication is that production may not have made sense before because of competition, but with lack of competition, a domestic producer may choose to enter the market and charge a slightly higher price, or even theoretically it would be possible that they could charge the same price. The linear supply/demand curve in economics is textbook, not reality. There are even more complications like the fact that a product may have inputs from many different sources, etc. - overall it just isn't that simple. I'm not saying that tariffs are never passed onto the consumer: that would be incorrect. What I am saying is that people who say tariffs are simply always passed on to the consumer are wrong. Google a WSJ article "My customers don't pay Mr. Trump's tariffs" to see an example, and if you want to get really technical, you can look into changes in rules of origin in trade agreements and how supply chains may shift in different studies and white papers. I have links if you need them

[@mulllhausen]

@@blah23vr234v another factor is whether a company wants to relocate a multi-billion dollar factory every 4 to 8 years depending on whether the president has an R or a D next to their name.

[@mulllhausen]

@@blah23vr234v > I'm not saying that tariffs are never passed onto the consumer... i wonder how often tarriffs are passed on to the consumer? my guess would be over 90% of the time.

[@blah23vr234v]

@@mulllhausen I would say probably not 90% of the time, because most explicit tariffs suddenly levied for the past couple decades or more have simply been countervailing duties or anti-dumping duties. Even in extreme examples where they tariff all countries like with aluminum in the US (technically a couple were exempted but still), the amount of price increase was largely negligible for most things. For example, the beer industry said they'd have higher costs and would have no choice but to pass it on to consumers. But what got much less attention was the Sec of Commerce pointing out, and other industry analysts pointing out, that this amounted to fractions of a cent on a can of beer. You'll notice that when they talk about "consumers will pay" that they almost never say how much. There's a reason for that. Most of this is negligible. Even when it is something that matters, companies have many different ways to adjust - anyone who is for higher minimum wage, worker regulations, and other miscellaneous things that raise costs but simultaneously concerned about rises in cost from tariffs make no sense. Not saying that's you, just pointing out that many of these people writing up headlines and such are those people. Explicit tariffs are already low worldwide, generally speaking. A 5% tariff slapped on something, especially something upstream like a raw material or a part of an assembly, may end up being a 0.5% increase in cost for a producer. None of this is ever explained, nor is it explained that everyone still uses tariffs, so this idea of "Free trade" is like everyone not practicing what is being preached. Tariff lines in tariff schedules are one thing, but a bigger issue is non-tariff barriers, and those can increase costs/prices by much more. No foreign carriers here in the US fly domestic passenger routes because they are legally monopolized by US carriers by law, pretty much (lookup cabotage laws). We are all "taxed" for that. Yet no one even notices nor cares. Various countries have levied tariffs against each other many, many times over the past couple decades, but suddenly it's an issue now - yeah, not really. The "news" is not a source to be informed from.

[@mulllhausen]

@@blah23vr234v well you certainly seem to know a lot about this topic. i have a few comments and some questions: firstly i will say that the cost being passed on adds up. sure, people might not notice too much if beer goes up by 5c per can due to a tariff on aluminium, but if all those extra payments add up to the cost of the tariff then the tariff has been passed on to consumers and the nation overall has become poorer for it. when there are lots of people in a country then this may be less noticed, but people do notice if their standard of living is not rising over time, or not as much, as they have come to expect. secondly, you make a good point about "free markets". the usa has never been a free market, and tariffs did not start with trump. there is in fact no sector of the market that operates on the principle of supply and demand between buyer and seller without interference from the government. be that in the form of agricultural subsidies resulting in more corn than farmers know what to do with, single family zoning laws, or the patent system. and the usa is not unique. free markets have never existed. not particularly relevant to this conversation, but true. finally, could you explain what you are referring to here? >probably not 90% of the time, because most explicit tariffs suddenly levied for the past couple decades or more have simply been countervailing duties or anti-dumping duties. i'm guessing that by "countervailing duties" you are referring to a reciprocation tax on a particular import? if so then why would that make a difference as to whether it is passed on or not? for example, if the chinese government were already imposing a 5% tax on aluminium entering its borders, and then the us government did the same thing, then i would assume that the us consumers of aluminium would now pay more for it. countries have "natural" advantages when it comes to producing things. some countries, use slave labour to produce things cheaply. if they also tax imports of those things then i can't see why that would make a difference to other countries also taxing those things.

[@voswouter87]

The main problem here is western countries regulated their manufacturing to death. So China does a lot of manufacturing resulting in a trade deficit. Like how most people have a trade deficit with their local supermarket.

[@Mico605]

I like how there are a bunch of rich people on your KZbin cover and then you put Nikola Tesla who had no interest in money :D

[@sp0ngeymario]

Hey could you do a video on worker co-ops :)

[@shudheshvelusamy7644]

Economists: “The market shall decide your fate.” China: “I am the market!”

[@economicsinaction]

"It always has been"

[@theendofdemocracyistyranny405]

IMF：China does not Manipulates its currency Economics Explained：I'm a Super Follower of the U.S. government

[@MasayaShida]

@@theendofdemocracyistyranny405?

[@malikialgeriankabyleswag4200]

Isnt that what communism is in part, centralizing the governance, especially economic branches, toward State control/command.. Isnt this also what Fascism has to do since its based not on principle but a kind of pornographic aesthetic of Triumph, which pretty much means perpetual warfare. And the centralizing of the market with communism always collapses when it comes into contact with a free market and hence communism only works if all markets are commanded which means it will also be in a perpetually imperialist state.. I dont know why I started talking about the necessary tyranny of command economies but *S* *W* *a* *G* bro

[@9manny99]

D2 E2 Unlimted Currency.

[@Quickonomics]

China be like "to beat the market... we must become the market!"

[@johndohe1146]

To beat the top comment, this must become the top comment!"

[@SuperNovaJinckUFO]

In so many ways XD

[@keubis2132]

in soviet china market is not controlled by you you are controlled by the government

[@donnied6151]

I think your all just drinking the anti China US administration propaganda, who by the way with its massive trade deficits and debts to China feels like its gonna get knocked off the top of the hill. Facts are China is a hardworking nation that saves and does in fact have rule of law (unless you listen to Mike Pompeo) and as a result is prospering. It would be great for them to destabilize China, for example with a overnight introduction of democracy, which historically results in massive strife, the list is long and does include the US revolutionary war, French Revolution and never mind that Germany and Japan had to be bombed into oblivion for them to become democratic. We can go right back to what by many is considered the start of modern democracy, signing of the Magna Karta, war war war. I love how the high priests are sharpening their knives for the sacrifice of others they are preparing for democracy. Democracy is all good btw but its introductory process is not and the only reason why USSR didnt have a civil war when it broke up is because Gorbachov didn't want a civil war in a country with nuclear weapons, but never mind the massive internal destabilization and the proxy wars that resulted out of that. I seriously doubt the US would have wrecked the middle east if the USSR was still around, its funny hearing the US talk about internal checks and balances of power, but does anyone ever wonder, what about external checks and balances to power, or does human nature just look inward?

[@Samuel-th6fw]

Funny how that is like actually what a socialist planned economy is.

[@EconomicsExplained]

Rumor has it Superintendant Chalmers still can't flex... :(

[@jijov.j1545]

Ecnomic Explains Pls , make a video about How to make USA health care system affordable in the capitalist method .........

[@tarankalawat1646]

Time to learn Mandarin Westerners!

[@maven8653]

China is a bot

[@hanzup4117]

I thought this was a video about steamed hams.

[@hanzup4117]

5 minutes in - I just got the quote lol.

[@CornishCreamtea07]

There is a Simpsons clip for anything.

[@kekero540]

20 something seasons does that to a show.

[@SomeRandomGuy-us1yb]

@@kekero540 Now its just a stumbling shamble of an old man past his prime

[@nofood1]

Kekero is it a coincidence if it happens 100 times?

[@DarkZerol]

"The Simpsons did everything." - South Park

[@gaslitworldf.melissab2897]

That's shows how hip the show really is - no accident there. It takes work to be relevant.

[@azerim2039]

*Japanese yen goes down 3% over night* Japanese government: We did it boys, deflation is no more!

[@AKumar-co7oe]

America: "We shouldn't manipulate currencies because its EBIL" Also America: *Forces japan to artificially double it's currency overnight along with European stooges leading to 30+ years recession* The only lesson here is: Look at what Americans do, not what they say.

[@SangoProductions213]

@@AKumar-co7oe here's your 50 cents. Good boy.

[@AKumar-co7oe]

@@SangoProductions213 I'm not Chinese, as my name suggests I am Indian - I just call out American hypocrisy when I see it because the worst thing a developing country could do is listen to America yapping about free trade and IP when it was hyper-protectionist and the biggest abuser of IP laws in the early 20th century when it was developing. Not understanding reality is how you end up with trump, no govt healthcare and a murder rate higher than Afghanistan

[@Lobos222]

@@AKumar-co7oe I am a unicorn, like my name indicates. /sarcasm

[@shashwatsingh8339]

@@AKumar-co7oe bro kayon mu lag raha hai in logon ke

[@Snusnu2977]

China : set up own foreign exchange to devalue our currency US : use quantitative easing India: as usual our currency value going down

[@Shobi-u5k]

😂👍

[@floppingtuna2022]

F india

[@mainmusik3677]

😂😂😂

[@Excelray1]

"I would rather betray the market than let the market betray me! " -probably not Cao Cao

[@versaleyang]

Man of culture I see

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increment of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@ariavachier-lagravech.6910]

Nah bro Cao Cao is the type of person that will do that

[@donprickinson7468]

Liu Bei is coming after you

[@Melissa-zy6qi]

@@n.m.8802 well in fact it is. Look at Mexico, Venezuela, etc that slip after the USD has been manipulated.

[@EqualsThreeable]

In China people’s standards of living are slowly increasing, it’s not long ago many more people were living as peasants on farms in rural China, as this improves you could expect people to demand more from their economy. This means more services and goods consumed by their people. People expect to be paid more and the cost of doing business goes up. All of a sudden it’s not so cheap to do business in China as it once was.

[@sausagejockyGaming]

Its the middle income trap, as workers demand more money the cheap labour is no longer there, then itll likely go to india then the same will happen to them, then probably some african nation but if no nation is available they would choose a country with the best infrastructure, either the US or a western european nation.

[@TheSuperior100]

@@sausagejockyGaming Countries get stuck in the middle income trap because they can't innovate and create new high tech goods. China is already a highly innovative economy with lots of high tech companies. No way China gets stuck in middle income.

[@jonwick7635]

Yep. Factories are moving to Vietnam & Indonesia to mitigate this

[@andyfriederichsen]

And their freedoms are decreasing.

[@Andrerc0]

@@TheSuperior100 By refering innovation I think you mispelled IP theft

[@QuestionEverythingButWHY]

“The supreme art of war is to subdue the enemy without fighting.” ― Sun Tzu, The Art of War

[@yay-cat]

i’m reading that book right now

[@QuestionEverythingButWHY]

@@yay-cat What's your impression till now? There's also a documentary available in youtube on the same title.

[@AlexFlodder]

And with the sheer amount of (usa) dollars china owns, what if they start selling dollars for .75 of the value? China is big enough and if they have the reserve*, they can ruin the usa dollar at a very high price, but cheaper than an all out war. *They are really building up usa dollars and gold.

[@hxsjdbdjavs]

I like the fact that you compared one of the timeless classic book with the vile act of absolute evil from CCP.

[@Manuel-gu9ls]

Indeed

[@TheMongolianWay]

Every country manipulates its own currency. Thats called monetary policy

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@mastersonogashira1796]

anon2k10 I always wonder is “50 cents” a good translation? Or “5 mao” better

[@Melissa-zy6qi]

@@mastersonogashira1796 lol you have been brainwashed by the USA. So I let you know another side of a coin. So you can see this thing on both sides covered.

[@neeneko]

Yep, and every country claims what they are doing is for the good of the people while things other countries are doing is evil and needs to be countered. Nationalism is a powerful domestic tool and doesn't need to be internally consistent.

[@Melissa-zy6qi]

@@neeneko not really. The rate of greediness for each country is different. The US is super Greedy. Trump doesnt want any country to surpass their supremacy as the strongest economy in the world. Meaning every country cannot pass the US GDP. Let see in India side. They have 1.5 billion people. If India cannot surpass the USA GDP meaning India people GDP per capita will always be low. Meaning USD 14T/1.5 billion people = USD 9300. Now let say INdia population has increased to 3 billion people It means their GDP becomes only USD 4600. If no cap on the world GDP certainly India will be the strongest economy in the world by USD 9300x 3billion people = USD 28 K trillion. This is way above the US that only has 300 million people. How about if each India earns the same GDP per capita of each American that is USD 46K?

[@EconomicsExplained]

Thanks as always for watching :D This video was requested by the team over on Patreon. If you want to have your say on what video is produced next please consider supporting the channel. www.patreon.com/EconomicsExplained

[@aidenwang803]

Economists: Market rules above everything China: Becomes the market Economists: you're not supposed to do that

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@Melissa-zy6qi]

@D2 E2 the more the better so they world knows the brainwash done by the USA is on now. In fact that brainwash is not true. So this posting just want to let the world know another side of the coin.

[@Lobos222]

@@Melissa-zy6qi So your argument is that two wars and a decade of sanctions between them wouldnt have a impact on its currency value... Your shallow comment looks like a copy past a 50center would post. You even admit that you spam it.

[@economicsinaction]

I see a meme in a comment, I press like, well played aiden wang, well played

[@sor3999]

Economists: The market will decide your fate. China: I am the market!

[@87mhd]

I like how EE talks about economists in third person as if he wasn't one

[@alexpotts6520]

I think there is a difference, though. EE doesn't do personal opinions, his aim is to inform rather than evangelise. It's absolutely fair for him to point out what is his own view and what is consensus, or indeed controversy, among the profession.

[@darrellng7617]

I think economist is reserved for the ones actually applying the theories in real world setting..it's fair enough for him who seems to be purely in the academia.

[@economicsinaction]

He's become the very thing he swore to destroy

[@izyanimations9417]

**My Chinese friend starts laughing like a maniac while reading her book** Me- *“I’m not sure if she’s laughing about her book or her plans for world domination!?!”*

[@financiallift6185]

I'm afraid to make a joke about China. They will probably log the data and then I'm on the bad list 😄

[@dongster529]

Imagine being naive enough to think that every country doesn't do that to some extent ALREADY. Only difference between authoritarian govts and their more democratic counterparts in this matter - is that they don't need public opinion, so they don't have to lie about it.

[@yohaneschristianp]

You're a joke yourself 🤣

[@aa-hx7lh]

Imagine taking YT comments seriously

[@madshagen5849]

You are now...

[@aussieboy4090]

This is why my Chinese classmates are so good at maths.

[@christophersimms9128]

@God Bless America it's maths in non US countries

[@beluwuga2573]

Meanwhile everyone here only knows how to do meth.

[@owenkeller2748]

Math

[@tiffyw92]

Chinese here, can confirm. The stereotype around parents pushing kids to be doctors, lawyers, engineers, and businessmen since young is more true than ever these days, especially entrepreneurship. Can't do business right if ya ain't good at maths.

[@metalgearray6832]

Rubia Ryu I own multiple successful businesses here in Australia and my maths is horrendous. That’s what accountants are for!

[@Blaqjaqshellaq]

When a nation is competing with rivals that are more developed economically, it makes sense to interfere with free markets in the form of import tariffs or devalued currency to promote its own development. (The US did it back in the 19th century.) When it becomes equally developed, however, such interference becomes disadvantageous.

[@Melissa-zy6qi]

LOL That's outdated theory. Obama has done it and the economy did not work. Then he did QE or made the USD expensive and then the economy run well. The same as BMW,LV etc, will they sell cheap to promote their products? Nope

[@dpokor]

19th century? How about Bretton Woods and the fake peg of gold to dollar? It wouldn't have become the world reserve currency but for that trick making dollars "as good as gold". Somehow they only managed to keep the farce going for 25 years but it's effect lasts up to this date

[@Melissa-zy6qi]

@@dpokor This dollar reserve currency should be ended soon other wise the US will corrupt this system and make other countries victims of their bullies. I guess the first think to do is using gold for everything. When the USD increases in values than purchasing more gold.

[@Blaqjaqshellaq]

@@dpokor It seems appropriate for a time when the world was rebuilding after WWII's devastation. Was there a better way?

[@dpokor]

@@Blaqjaqshellaq I'll always answer: letting the invisible hand of the free market figure it out. No central planning, even if it's comfortable for those occupying power for 4-8 years, they are always short-sighted

[@Thedarkknight2244]

Love this channel! You just have to do the economics of the British Empire. It can cover the tea trade, cotton industry with india, the opium wars, the east india company being nationalized, the founding of stock trading and there's so much more content than this!

[@alexpotts6520]

There's already an episode on the East India Company IIRC.

[@drjp4212]

@D2 E2 Slavery and theft? Roman Empire? Any other Empire?

[@00x0xx]

@D2 E2 The foundation of every Empire in existence is slavery and theft. Whether they're seen as good depends on how much social and technological progress they've made with the slavery and stolen wealth.

[@timothygoosby6942]

@@00x0xx The means we use must be as pure as the ends we seek

[@00x0xx]

@@timothygoosby6942 Indeed. History honors those true to their agenda, despite the destruction they cause to others; and dishonors those who are hypocrites, liars and betrayers.

[@lamatfoschini1891]

China: Manipulates the currency The US: *Laughs in quantitative easing*

[@sdprz7893]

The US does quantitative easing out of necessity not out of strategy

[@tony3003001]

#whatcouldpossibygowrong. The last weminar republic “hold my beer you two 😂 ”

[@linhaohoward]

John Clemens P. Rubi this is not true. Every nation in the world have their national reserves based on usd. So when US prints a trillion dollar, the expected currency deflation is actually spread across all other countries. It’s like making an ATM withdrawal out of someone’s else’s account.

[@linhaohoward]

SDPRZ every nation’s national reserve are based in USD. When US prints money the expected currency deflation is spread across everyone’s national reserve. It’s like making an ATM withdrawal directly from other people’s account. China printing money more or less gives an unfair advantage by keeping their currency low which in turn maintains their cost of good exports’ attractiveness. Although it might be an unfair advantage, but to overseas end-user consumers like me, it still allows me to buy good for a cheaper price which otherwise would’ve been more expensive. However US printing money is outright robbing my country’s national reserve which is robbing from the taxes I paid. You call it a necessity to outright robbery?

[@macculu501]

@@sdprz7893 "The US does quantitative easing out of necessity not out of strategy"

[@daydreamingstars2980]

Who else learns more from Economics Explained then they learn in school

[@roboticrebel4092]

tbh, most chools dont teach even the basic economics

[@Nsaison]

my teacher a showed a economics explained video in class

[@daniel_960_]

You don’t learn stuff like that in school. The majority isn’t supposed to learn stuff like that.

[@daydreamingstars2980]

daniel_960_ I’m Dutch but I’m going to school in Australia and we are getting taught economic’s but well its just there not teaching us very well

[@susza89]

Probably everybody. School systems somehow neglect finances in general. I guess the goverments just want to produce more and more brainless consumers/workers

[@kaen_tqk3918]

US: *nooooo you can't just manipulate your currency to give yourself an unfair advantage in the market!* China: *haha currency go brrrr*

[@stallen1066]

I was standing at a kiosk at that airport trading some currency listening to this... then he called me a 'schmuck'. Made my day!

[@boyar1978]

I became a millionaire when i went on vacation in Vietnam. Then when I cashed my millions at the bank they gave me 50.00 and told me to have a nice day

[@joejia1410]

China is the real-world demonstration of "I have outsmarted your outsmarting"

[@tony1duan]

And if you read about history, the rest of the world hasn’t been fair to China too in the past 200 years.

[@benedictosamosir9109]

the world hasn't been fair to the world if you go back long enough. Well maybe not to the brits.

[@Xtonhao]

Hey how about the brazilian real ? i heard it is the most devaluated currency this year for developing countries, and it seems like a big part of the reason is simply because the government wants to. Do you think that this might actually be helpful for our economy in the long term ?

[@in4ser]

Be careful what you wish for, if China increases the value of its currency it becomes a more powerful and larger consumer market because a strong CNY means more buying influence for every one of its billion citizens. Hypothetically if the CNY is allowed to appreciate to 1:2 USD then its economy will double the size of the US economy. Meaning in total, China can dictate demand with greater influence to multinational companies to reflect Chinese needs and wishes. Weaker supply-side productive competitiveness for stronger demand-side consumer power. People complain about Disney or NBA catering to the Chinese market but a strong CNY means that it will only intensify multinational businesses ' desire to lobby and kotow the CCP line in order to get market access.

[@tayyikai5470]

Does anyone know where are sources? I can't see them

[@forthepotentates7526]

I don't trust channels who don't list or quote their sources and instead fill their "Info" section with the names of their patreons 👎

[@mrmeseeks8790]

Drop a dollar on Patreon to access their research material and have your doubts resolved in an exclusive QnA. These guys work hard to produce the videos, they are not Chinese government printing inflated gdp figures.

[@EverythingisGoodieBud]

Q&A second channel, hit them up any time

[@tayyikai5470]

@@mrmeseeks8790 but he specifically said that he would put sources in the description. Unless perhaps I heard wrong.

[@VictoriousGardenosaurus]

Seen plenty of channels put up their info and sources for free.

[@maryjones7692]

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[@forexvisit3325]

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[@thomgarcia4983]

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[@lawrencerodrigo8335]

He gives me a great percentage of profit and i beerly encounter any losses with his amazing strategy through out my 2 years of investing with him. I invested $10,000 as of last month and i made a huge profit of $17,350 in just 2 weeks, all thanks to Mr Jack Jones.

[@maryjones7692]

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[@emakruz1243]

The rich stay rich by spending like the poor and investing without stopping, then the poor stay poor by spending like rich yet not investing like the rich. I learnt that from Mr Jack Jones who gives me more knowledge no how investments are really done. His really a great broker to brag about anywhere and anytime.

[@vincentchamberlain7349]

No shortcuts to trading man. It's got a ton of parallels with affiliate marketing... One of the biggest is put in the work to understand your niche and stay consistent. It's taken me 10yrs to really dial in my approach and become consistent. It wouldn't have taken so long if I had met Kyle Holt Karens earlier..

[@vincentchamberlain7349]

All I can do now is offer my story for people who actually want to succeed. Like anything your success is going to boil down to strategy, consistent work ethic, and constant learning. Search her on google if interested and visit her website for more information.

[@thompsonadamas5060]

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[@rosalinecarie2447]

I have heard so many incredible things about her and I have been trying to find out how to invest with her easy stock trading software. This information has been useful.

[@harrychurchill6215]

A question please.... Is her software available for any stocks in the world, or it was only used in USA. It's difficult to get a very good analytic software in my home country, Finland after all .

[@sylviawinkle9670]

@@harrychurchill6215 Her's is a global trading platform and it's perfect for any kinds of stocks around the world. She is a regulated broker and her information is available to the public. Look her up online, visit her website and email her.

[@MrYsosad]

western news: China is the biggest currency manipulator! The USA FED: am I a joke to you?

[@AdityaKadamMechanical]

Ease of doing business report this year is cancelled because of China, Azerbaijan, UAE & Saudi Arabians manipulating the data🔥

[@Rudenbehr]

China is incredibly easy to do business with. They will literally disappear their own population if they get in the way of profits for you and the government,

[@overlord9476]

@@Rudenbehr if so why isn't China free market?

[@TheDhammaHub]

In history, it has rarely been a good idea to suppress free market effects for too long.

[@caorusso4926]

China will fall Comunism is a lie

[@noahpolicarpio1530]

No, they just cultivated their domestic brands by walling off foreign brands. Now, they're ready to open up their markets to make sure their homegrown brands stay innovative.

[@Nishith8]

@@caorusso4926 china is a state capitalist and not communist

[@economicsinaction]

Let's drink to that

[@lubu2960]

@@caorusso4926 china is here to stay m8, the sooner you accept it the better

[@adamorpen2980]

I really love the quality of your videos, they’re interesting and very well structured and put together

[@ScreenwriterGuy]

I think you're complicating this issue. You did explain everything else very well but this, not so much. You could have done better. Simply put, China builds up a reserve of foreign currency by selling its currency. In this process, the price of its currency is set by China, hence it is able to decide how much it is taking in. By pushing its currency to the world, it decreases the value of its currency. This helps building up the local economy because local goods are cheap, and individuals from other countries tend to buy it cheap and sell it for higher prices. Why other countries can't do it, is because no country is so self sufficient, and they're kind of tied up in an agreement before FIAT came into existence (The Bretton Woods Agreement). The Federal Reserve manipulates the market using banks and interest rates through the USA worldwide, while China played the UNO reverse card by collecting cash and sending out products, hence manipulating the market. China knows what it is doing, and it is doing it well. Federal Reserve is a private entity, meanwhile China is a nation. The world cannot keep up with China in prices because it almost in entirety, the world currencies are tied up with the US Dollar. China will keep buying US dollar, deflating the currency whilst the purchasing power is very less. This will toss the US day-to-day economy into chaos. If US stops selling the dollar to China, inflation would occur. This would set it to course, but the purchasing power would increase. This would cause a chain reaction wherein the industries in the US would raise prices and end up screwing up their own people. A better way to handle it will be to stop printing out notes, ask industries not to increase prices, stop selling US dollar to China, and produce things inside of the country. It'll take time to adjust to the prices, but it'll be worth it.

[@alexwschan185]

Do you seriously believe that America can tell three separate parts of their country from different locations and levels to collaborate on a single economic goal for maybe 5-10 years?

[@matthiasfreaked]

China knows what American politicians want, and how selfish they are. If its free money at the cost of Americans, they don't care, suffering Americans arent their problem

[@adaml6703]

Quantitative easing also depresses your currency so any country that prints a lot of money like Japan and the USA are technically "manipulating their currency". Also pegging your currency is a lot more common than you think, even the Euro is pegged. Currency stability is critical to doing any kind of international trade and because the yuan is not commonly accepted it needs to be be pegged to prevent wild fluctuations.

[@faustin289]

The effect of US printing is much worse though compared to Japanese Yen. The USD is the de-facto world's reserve currency. According to FMI, 60% of world's reserves are held in dollar-denominated assets (plus 40% of the world's debt). This means the FED printing dollars is literally stealing the world!

[@wigglebot2368]

US printing also causes inflation so the change in FOREX is meaningless

[@rigrag7876]

True but the Euro is pegged for different reasons is it not? The Euro can't be decided entirely by the market due to the wide range of economies from Eurozone countries. However having it pegged is good for countries like Germany and bad for Greece

[@adaml6703]

@@wigglebot2368 I mean because USD is the world reserve currency, there is 80 trillion USD in circulation. I assume even if the US prints 2 trillion USD there won't be much inflation.

[@wigglebot2368]

@@adaml6703 Yes but there also won't be much FOREX movement

[@mikealexander1935]

You missed a great deal here, like why does China do this? They do it for the same reasons the US had significant tariffs until the 1930's. Also there is a dynamic element that your equilibrium-based discussion ignores. Britain was the most economically advanced country in the world in 1850. Under its free trade doctrine it gradually lost its economic edge as it invested abroad rather than accumulating capital at home. The US, with its tariffs, invested profits internally, and had overtook Britain is some three decades. Today the US is following in the same path, offshoring production to maximize profits with are then used predominantly to increase financial market valuation. Rising financial markets do not grow economies or national power. China is already the largest economy in the world in PPP terms (i.e. correctly for the differences in currency values, and continue to grow their capital stock and their ability to do big projects (like stop a pandemic in its tracks), or win a war should one become necessary. Twenty years ago I speculated that at then current growth rates, China would be in a position to simply seize Taiwan and force the US to stand down sometime in the 2020's. Growth rates have slowed some since then so it might be more like 2030, but they are still on path. This would not be a problem per se, if the US did stand down, but can you see the US political elite (who are pretty obtuse about foriegn affairs) actually doing so?

[@FinanceOptimum]

*US: Accomplishes World Domination via false-flag induced 'freedom invasions' to prop up Petrodollar* *The Western Media: China bad, they manipulate their currency AND WE DON'T!* 😂😂😂

[@denizerdal6465]

At least we don't have gulags and concentration camps. Also we pay our workers more than a couple cents an hour.

[@markhenley3097]

And don't forget what the media says when an American President who opposes all these invasions and wars comes into power (Trump).

[@denizerdal6465]

@stockart whiteman I never said we're not bad, I'm just saying we're not as bad.

[@tony3003001]

Deniz Erdal not sure the biggest baddie on the bloc can justify more 😂 get your shot act together at this election especially with the raise of new silver legion of America aka Qanon

[@Arag0n]

@@denizerdal6465 minimum hourly wage in Shanghai is ~3$/h, with smaller cities being 2$/h. Then that's minimum, most people makes a lot more than that, as minimum wage jobs are usually only taken by students or uneducated people, and long story short, majority of new generation has universe degrees so the second kind if rapidly disappearing leaving students as the only ones working for minimum wage.

[@mikle65]

if china would sell the usd paid trough trading for yuan on the FX market, the usd would weaken and the yuan would strengthen, so after some time it would not be worth the trade. This is why china buys US bonds and treasuries from the US and bank of china "prints" yuan instead to weaken it's currency. A strong yuan would damage the export market of the country.

[@owenkeller2748]

Please do “inflation is just a flat tax” next

[@tweedy4sg]

Oh pleaseee.... China does not manipulate its currency. It's only a US accusation going by their own definition. China just does not allow its currency to float freely, but to float only a within trading band to maintain stability and minimise volatility. This is important for trade so there's no big fluctuation in price. Lots of other countries do it too which the US also accuses --- Germany, Switzerland, France, Singapore is a few I can recall.

[@prakhar242]

In India, a lot of people say that India will be the next China, or could even surpass China. But as much as I love my country, I have to say we're just plain stupid compared to China and I don't see any way we could catch up to them considering the kind of attention to detail and relentlessness with which they've chased economic prosperity.

[@df7205whip48]

I'm a Russian living in Australia and I agree with you fully. The Chinese are very focused, ambitious and disciplined people and they will get far

[@chrono-glitchwaterlily8776]

India will become China in a way that it will be used as a source of cheap labor. That's the China that think they were referring to. While this is happening, New China will develop even further from India. The only way they can catch up is if they develop unique products (so that they'll be in demand) and not import as much (so that Indian currency isn't devalued as much) While this is all a nice thought, I'd still like to think that Taiwan has the upper ground. Though I didn't do as much research with this particular country to state any definite outcomes.

[@shido8597]

@@chrono-glitchwaterlily8776 and bring their Indian citizens home

[@chrono-glitchwaterlily8776]

@@shido8597 not until they've developed. So far, those citizens are bringing home dollars which add value to the currency. Until they can provide jobs for everyone, don't immediately recall the overseas workers. That'll just devastate the economy :(

[@carolinexoxo1403]

Chrono-Glitch WaterLily many of these workers are simply moving out of the country though. India needs a more authoritarian government, nobody pages taxes, the streets look terrible, there is insane air pollution. Unless this changes India can’t go anywhere.

[@DixyBixy]

As a chinese i have to thank you to devallian the image of China. Everything is heavily ecnomic and can be explained by money, there is no good or evil but pure capital. Its sad little people understand that.

[@JewTube001]

people don't want to understand it, rather, they would seek to control capital.

[@bananalord8461]

Oh that dude was staring at the wrong direction he’s gonna disappear 0:48

[@bluefeather2889]

Sure is

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@shorewall]

@@Melissa-zy6qi Probably what China is expecting to get from the Belt and Road countries when they can't pay back their predatory loans.

[@MRTY323]

China just wants a stable currency, look to India for real currency manipulation. Rupee has depreciated more than 300% against USD over the last 30 years, all the while its economy is getting better and better. Definitely not market forces.

[@112313]

Sure....america never manipulates its own currency, sureeeeeeeee

[@jordanknight336]

bruh he spent the whole second half of the video explaining the difference between money printing and what china does.

[@112313]

Uh, yeah, i commented this after the first sentence he uttered....shot my gun too early.

[@zhaozhisun4089]

How is the exchange rate of other countries (like UK, Eurozone, Canada, Japan etc.) determined? How is the value of US dollar determined? What is quantitative easing doing in regard of the exchange rate and international trade?

[@iamscoutstfu]

Chinese devaluation isn't really comparable to Tariffs. Tariffs are levied against specific nations for specific reasons. Thge Chinese devalue their currency as a matter of general economic hostility directed at everyone not a Chinese communist. It's "Predatory", like their debt. trap diplomacy policy and even their policy of enslaving their workers to attain greater market share in the foreign labor market, or their thousand talents program which attempts to enlist the brightest minds of foreign nations into the employ of the CCP. Etc. etc. etc. They're all policies directed at siphoning vitality and resources from other nations, to the Chinese communists. Tariffs are meant to discourage trade or punish transgressions and are administered piecemeal. We SHOULD be pissed because this is yet another instance of China attempting to slowly strangle everyone else while empowering their own insane, despotic regime. It's definitely not the same sort of action as a tariff, not even close.

[@Visiomax]

Your "how to win friends and influence people“ reference is great!

[@biologyinaction1443]

can you make a video on Pakistan military budget economy and foreign debt relating them because after 6 months of my own research things are still messy also including china's self interest in cpec(china Pakistan economic corridor) and electrical infrastructure development

[@Trumpianet]

You get a like just off the strength of that title

[@rhythmandacoustics]

I guess EE like RnB so much he started to become an artist in China.

[@stc2828]

I would gladly accept Mexico peso too. They all exchange to USD pretty easily anyway.

[@hotchi1566]

Is there a country that does not manipulate its own currency?

[@user-iy3gx9qg4y]

where is the link to an article?

[@gaeldesmontagnesnoires1711]

When Bitcoin is a world currency it'll be 2 BTC for a nice house in France & 200,000 Satoshies for the same house in Uganda... prices in BTC will Geo-adjust🕴

[@forgaoqiang]

It's not steady can't be a currency

[@Helpie114]

Thanks for the time and effort

[@EconomicsExplained]

My pleasure!

[@Melissa-zy6qi]

When Iraq was under Saddam 1 dinar = USD 3.2. Meaning if Irak has foreign debts in the USD worth of USD 1 million, it was only equaled to 300 k dinar. Look at now 1 USD = 1,195. Meaning their USD 1 million debts worth 1 Billion Dinar. That was increament of 1,195 times. How about if 1 USD = 2 Trillion dinar? What if Iraq becomes default and cannot pay? What do you think the USA will have from Iraq if Iraq is default?

[@Mark-zv7tk]

US economists: China how did you beat the market? Chinese Thanos: I used the market to destroy the market

[@thedoruk6324]

Is there anything that the chinese arent actively manipulating tbh?(!) :^]

[@interdictr3657]

Good old china, all of our best friend. At least as long as you do whatever they want. I am truly worried how bad it will get in the coming decades as they become more powerful.

[@franciscoshi1968]

In short China can only manipulate its currency because it has enough money to buy enough foreign currency. So where did they get the money? Can they just print more money? Printing money would have the effect of devaluing the currency. Does that mean that printing money can be used to devalue your own currency as long as you don't spend it inside your own country? I still don't understand how China can keep manipulating its currency for such a long time without paying for it or getting into debt.

[@forgaoqiang]

Exchange paper money for real products, that's how the foreign exchange comes, be honest, it's unfair since many debts will never be paid back

[@beastyms]

I hear "Toyota Corola" Me: "Am I watching Real life lore?"

[@Snusnu2977]

Me too

[@freespeech8520]

The answer is: every country does it. The U.S. is the master of all with the Fed printing trillions of dollars. The moment China's digital currency succeeds is the time of the U.S. dollar's collapse. Unfortunately, there can not be two dominant currencies in the world.

[@hanyatra1084]

Free Speech yes, US printing money on the world expenses

[@quavious2940]

Wait... This is just importing stuff from China 🇨🇳 😮😲😯 and now you are playing the game China created

[@chbuki]

Just a question on the Cadillac vs Mercedes analogy, but if the value of the dollar decreases, wouldn't the cost to produce the Cadillac increase as well, thereby increasing the cost of the car?

[@Gauravbisla]

It Explains china exporting everything but still currency is not 3 times of dollar

[@abdulakram6839]

lol I am pretty sure the US does the same thing when it suits them.

[@tenminutetokyo2643]

The US dollar floats freely in world currency markets - as do all other WTO member's currencies. Except China of course. It's the only WTO member not required to do so. Talk about a rigged market.

[@levelazn]

America " china you are manipulating your currency!" America "us dollar is global reserve currency"

[@duo496]

Economics of June 4th 1989

[@Paranoid_Found]

Economic problems are, in fact, the reason behind that incident. Back then, in the earlier stage of economic reform, China had two sets of prices, one base on central planing the other market. It was supposed to be a transition between the planned economy to a free market. This inevitably leads to and severe exploitation of the system, often from corrupt officials. To counter this problem, the government decided to allow the previously planned prices of domestic goods to rise (to the same level of market) so that China can transition to a market economy in a short period. The slogan back then was, ”prolong suffering is worse than temporary suffering.” This policy worthen the already high inflation rate and leads to people stockpiling goods in panic. The discontent eventually leads to mass demonstrations. The Chinese government did away with the two sets of prices in the winter of 1989 after the suppression of protest. The 1989 protest is framed in the West as ”pro-democracy.” Although such characterization holds some truth, the protest has more to do with corruption and mishandling of the economy.

[@udin2842]

*erhap one day it wold rival the usd* dude, it already has. china has the ability to rival or surpased the world bank.

[@navinsood7302]

That's how China is able to offset the cost of trade tarriff's imposed by West by decreasing the value of their currency.

[@madensmith7014]

I think that buying stuff from abroad and bringing it back home to resell still counts as an import, and therefor taxed when found, so even those people will find China a bit more unappealing to buy from than usual. The real loophole to the trade war is that China sells parts, so all they need is to sell some unfinished goods into other countries like South Korea, Japan or Vietnam for them to complete, stamp in their brand, and sell it to the US. Iphone has parts made in China, same goes for Samsung and Japanese brands. Pretty much why Trump wants to drag in more countries to the cause.

[@madensmith7014]

@fane babanu Yeah tbh, point is that it's not only Americans using Chinese factories. Samsung isn't even American

[@madensmith7014]

@Flare Bruh, credit where credit is due. Germans killed tons of people but that doesn't mean the cars they make aren't good.

[@navinsood7302]

@@madensmith7014 Guys, the thing is China has the scale and countries/companies have been dependent on China for decades!! They cannot pivot suddenly. It will take time for companies to shift their supply chain which is a costly affair but it has started happening.

[@jijov.j1545]

Ecnomic Explains Pls , make a video about How to make USA health care system affordable in the capitalist method .........

[@Fire-ci4se]

Just make more money lol , then it becomes affordable

[@112313]

The thing about this so called dead weight or whatever societal cost u mentioned, think of it like a capitalist type wealth redistribution strategy. The government takes in taxes from the people and businesses, pays for these..."manipulation" thingy, and other nations buy from the businesses, giving them more income, hence producing more tax income. So to get money in, one has to provide goods or services to get that money. So, instead of the government directly giving the money to help alleviate poverty, they made it so that only those hardworking ones gets it, in a self repeating cycle. Think back how this all started, from what economic level they came from. And where they are now. This took some long term planning, and i would argue, if you are worried about china now with its "currency manipulation", you will really be even more worried and afraid when it is fully freely floated. Because that will be the point when the chinese government decide the benefits of free floating yuan will be far more beneficial to china as a whole than a "controlled" one.

[@MrKogline]

Can we just start calling tariffs TAXES and admit that Trump drastically raised TAXES on commodities which hurts the consumer, especially the middle class, which is the primary consumer?

[@sdprz7893]

Don't let the trump fanboys hear you say that. All his policies are genius and apparently he's doing a great job

[@ShnoogleMan]

“iT’s BaSiC eCoNoMiCs” said the guy who never took an econ class and thinks socialism is when the government does stuff.

[@MrKogline]

@Stephen Jenkins ...Or we could have just used TPP which SPECIFICALLY barred China from the table and LOWERED taxes. But, that was Obama, so lowering taxes is now socialism now I guess.

[@alloomis1635]

why? because they are a civilized nation run by very smart people.

[@shiwwee2386]

I remember my Professor saying that Japan actually manipulates way more times than China.

[@willw8072]

Yea in short version, every other country can do it but China. Well done 👍

[@Tenchinu]

The West: Its over China. I have the high trade tariffs. China: You underestimate your greedy corporations.

[@pranjalsharma8960]

most of the developing ecnomies do this though. one way or another