Valuetainment - January 15, 2024


China's New Ruleļ¼š Bans Negative Speak About Economy


Episode Stats

Length

7 minutes

Words per Minute

199.65662

Word Count

1,473

Sentence Count

134

Misogynist Sentences

2

Hate Speech Sentences

4


Summary


Transcript

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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00:03:01.820 So if you get value out of this video, give it a thumbs up and subscribe to the channel.
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?
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.
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.
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?
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.
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?
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.