The Old New World Order

Sep 1, 2023

Duration: 45 minutes

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In this conversation, I discuss the not so new World Order and how the more things change, the more they stay the same. First, I talk about the tumbling Chinese economy and the high youth unemployment rate in China. Highlighting the failures of communism in the country and how it has led to economic turmoil and a lack of opportunity for young people. I also mention the challenges faced by real estate developers and the impact on the Chinese people who have paid for apartments they will never receive.

Next, I discuss the unsustainable national debt in the United States. I emphasizes the drastic increase in debt during the Trump and Biden administrations and the negative impact it has on the country’s financial future. I mention the growing interest expense and the limited options for addressing the debt without significant reductions in spending or tax increases.

Lastly, I explore the resurgence of mercantilism in various countries, including the US. I explain how mercantilist policies, such as tariffs and subsidies, aim to maximize exports and minimize imports. I discuss the competition among nations to support domestic industries and reduce reliance on China. I also highlight the potential negative consequences for smaller economies that may struggle to compete in this new era of industrial policies.

Overall, I argue that despite the notion of a new world order, these examples demonstrate that old problems and ideologies persist. The conversation sheds light on the challenges faced by China, the United States, and other countries as they navigate economic and political issues in an ever-changing global landscape. I encourage listeners to remain optimistic and believe that there are always opportunities to make money.

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