Valuetainment - January 15, 2024


China's New Rule： Bans Negative Speak About Economy

Topics
talk badly about their economy property investment
Hosted by
Patrick Bet-David
2024 BOLD Predictions： Election ｜ War ｜ Stock Market ｜ Industry Disruptors ｜ AI Border Crisis： Shocking Data Reveals Illegal Immigrants Outnumber American Births

Episode Stats


Length

7 minutes

Words per minute

199.66

Word count

1,473

Sentence count

145

Harmful content

Misogyny

2

sentences flagged

Hate speech

4

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Why is China freaking out? China is losing money, people are leaving China, and the stock market is falling. Why is China so worried about it? Is it because they are losing money? Or is it because China is trying to take money out of the economy?

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 Do you know what China's Ministry of State Security is making people do?
00:00:02.840 Like, imagine in America, you couldn't talk about COVID when the thing was high,
00:00:05.840 or vaccine, or this is how you get silenced.
00:00:08.000 In China today, if you talk...
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00:00:34.060 Talk badly about their economy.
00:00:36.960 They're deplatforming you and silencing you.
00:00:38.940 Let me read you a couple different things that's going on in China.
00:00:41.460 They're freaking out from the top.
00:00:43.600 So, in June, three finance commentators with 4.7 million Weibo followers,
00:00:48.180 Weibo is like their Twitter, Facebook, and Medium combined,
00:00:51.320 they were blocked by the platform as a punishment for, ready?
00:00:54.540 By hyping up the unemployment rate, spreading negative information,
00:00:58.820 and smearing the development of the securities market,
00:01:01.720 the Weibo account from Weibo Finance issued an instruction against posting any comments
00:01:06.440 that badmouth the economy, and later they deleted it.
00:01:10.420 So, it means they're worried about it.
00:01:12.040 Bloomberg reported that several online finance influencers had been told by Weibo
00:01:15.580 to avoid crossing red lines and to post less about the economy.
00:01:19.540 Weibo did not reply to a request for comment.
00:01:22.340 China's Ministry of State Security published an article on 12th of December,
00:01:26.980 just a few weeks ago, saying,
00:01:28.600 there was a need to sing the bright theory of China's economy.
00:01:33.400 And in a separate WeChat, the same ministry said,
00:01:36.400 various cliches intended to denigrate China's economy continue to appear.
00:01:41.940 Their essence is to use false narratives to construct a discourse trap
00:01:46.780 and cognitive trap of China's decline in order to cast doubt on the system
00:01:51.940 and path of socialism with Chinese characteristics.
00:01:55.800 They're freaking out for many different reasons.
00:01:58.380 We're going to talk about that today.
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00:03:04.500 Why is China?
00:03:05.320 You're so big, so proud.
00:03:06.420 Why are you so worried, China?
00:03:07.860 What are you worried about?
00:03:09.200 Maybe it's because China turns negative for the first time in 25 years in what? 0.80
00:03:14.320 in quarterly foreign direct investment inflows to China in billions of dollars.
00:03:20.320 That is not a good chart when you look at this
00:03:22.880 because since they've been part of the World Trade Organization,
00:03:25.820 there's never been a year where people outside of China were not putting money in.
00:03:30.640 It's negative.
00:03:31.360 You know what negative is?
00:03:32.260 Could be the fact that they're taking money out.
00:03:33.820 Maybe millionaires are leaving China. 0.95
00:03:35.740 You think that's really happening?
00:03:36.760 Let's take a look.
00:03:37.460 According to Millionaire Net Migration of 2023,
00:03:40.340 these are the top five countries that are expected to see the most number of millionaires migrate in 2023.
00:03:46.880 Look at who's at the top.
00:03:48.440 China, 13,500, an increase of 10,800 in 2022.
00:03:54.380 Then you got India that went lower, which means fewer people are leaving.
00:03:57.680 Then you got UK that doubled.
00:03:59.640 People are leaving UK.
00:04:01.180 They don't feel safe.
00:04:02.200 Then you got Russia.
00:04:03.240 Then you got Brazil.
00:04:04.060 But China is losing millionaires.
00:04:05.920 Imagine you're living in China. 0.81
00:04:07.000 You're like, all these billionaires want to leave this place.
00:04:08.580 They're having a hard time taking their money out.
00:04:10.340 They're trying to do a low-key thing.
00:04:11.620 I'm leaving for vacation, but we're never coming back.
00:04:13.760 Why are you going on vacation for two weeks, four weeks, six weeks, eight weeks, ten weeks, five months, six months, one year?
00:04:18.660 Are these guys going to come back or not?
00:04:20.300 It's like billionaires that left New York and went to Florida.
00:04:22.740 They're not coming back to New York.
00:04:24.180 Oh, they're going to come back.
00:04:25.380 No, no.
00:04:25.840 They're not coming back to New York.
00:04:27.060 These are people that want to leave China.
00:04:29.360 Let me continue giving you more numbers here.
00:04:31.080 The real estate sector in China is 30% of their GDP.
00:04:34.380 40% of China's home sales since 2021 are linked to property companies that have defaulted.
00:04:39.700 40%.
00:04:40.920 Home sales have fallen 29% across major cities.
00:04:46.080 Property investment in the first 11 months of 2023 fell by 9.4% on year, according to National Bureau of Statistics.
00:04:53.800 Youth unemployment.
00:04:54.640 Imagine you're trying to get a job.
00:04:55.820 This is what it looks like.
00:04:56.800 This is not good.
00:04:57.520 It keeps increasing.
00:04:58.540 Youth unemployment in China from 16 to 24.
00:05:01.300 Every year has gone up.
00:05:02.980 It's the highest right now.
00:05:04.020 It's been in a long time.
00:05:05.340 21.3%.
00:05:07.380 You got to get these people working.
00:05:08.920 They can't get a job.
00:05:09.960 They have a problem in China that is kind of a good problem, but it's bad for the government.
00:05:14.380 It's good for the people.
00:05:15.460 And here's what the problem.
00:05:16.380 Imagine like total money supply we have in America.
00:05:18.720 How much money do you think it is?
00:05:19.720 It's roughly $20 trillion.
00:05:21.060 We collectively, there's roughly $20 trillion, right?
00:05:23.960 China has $40 trillion, okay?
00:05:25.780 So you look at the 2M2 supply, you're like, wait a minute.
00:05:27.740 China's got twice as much as we do? 0.57
00:05:29.060 Yes, but they have a problem.
00:05:30.380 What's the problem?
00:05:31.280 China's people don't spend money. 0.80
00:05:33.480 They're savers.
00:05:34.480 Household savings continues to rise as Chinese consumers remain cautious.
00:05:38.760 Look at this.
00:05:39.760 2021, 2022, 2023, they are not spending any money.
00:05:43.500 So they're investing in real estate.
00:05:45.160 It's the only thing pretty much they're investing in at the same time, give or take.
00:05:47.580 But the consumers are saying, I am not going to be spending money.
00:05:50.440 In America, we're like, hey, buy, not pay later.
00:05:52.480 Credit cards, send me more credit cards.
00:05:54.120 They're not doing that in China.
00:05:55.580 China's trying to force consumers to go buy stuff so we can make the economy grow.
00:06:01.720 But it is not happening.
00:06:03.020 They are not optimistic about what's about to happen to China.
00:06:05.940 Okay, so I got to take this kid to soccer, but let me give him my final thoughts before
00:06:08.780 we wrap up.
00:06:09.300 So here's the last part.
00:06:10.360 How do you judge success by a company or a sales organization or a sports team?
00:06:15.340 Championships, sales, money being made.
00:06:17.280 China lost 45 billionaires from 22 to 2023.
00:06:22.820 That's 7.5% of their total billionaires they lost in one year.
00:06:27.980 The world decreased only by 0.2% and U.S. flatlined in the number of billionaires.
00:06:34.480 But China lost 7.5%.
00:06:36.220 Why are you losing so many billionaires?
00:06:37.820 Aren't you supposed to be the place that produces the most billionaires? 0.97
00:06:40.620 Why are you decreasing?
00:06:41.600 These are real numbers.
00:06:42.480 And this is the kind of data that China doesn't want their people to see or talk about.
00:06:47.540 And that's who they're silencing.
00:06:49.140 I wonder why.
00:06:50.600 Numbers don't look good.
00:06:51.920 And that government, when you live in a country that's a communistic country, they can silence
00:06:55.700 you at times.
00:06:57.060 Having said that, if you got value out of this video, give it a thumbs up and subscribe
00:07:00.480 to the channel.
00:07:01.120 I got two other videos for you to watch with China.
00:07:03.360 One of them is China comparing to India because they are very much competing against each other.
00:07:08.180 If you've not seen the numbers, you'll watch this.
00:07:10.400 And the other one is China's demographic.
00:07:13.200 The average age being 38 years old, 39 years old.
00:07:16.480 It's not a good look.
00:07:17.260 If you've not seen this, this is a very big problem.
00:07:19.740 They're concerned about it.
00:07:20.520 Click here to watch that.
00:07:21.260 Take care, everybody.
00:07:22.160 Bye-bye, bye-bye.