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BI🛑WEAP🛑N, WAR Crimes, $w!ng time.

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The US national debt is more than $34 trillion, with 22% of it held by foreign entities. The US also has $40 trillion in unfunded Medicare liabilities and $26 trillion in unfunded Social Security liabilities. The US dollar is the dominant reserve currency, backed by its perceived strength, allowing the US to print unlimited dollars as long as the world maintains trust in it. The US dollar is the backbone of US power, and any actions that undermine confidence in the currency threaten to destabilize its position of dominance. Each unilateral sanction imposed by the US risk damaging the stability and credibility of the US dollar, leading to dire consequences for the nation's power and influence. The US is the only country actively undermining the strength of the US dollar. The freezing of Russia's $300 billion currency reserve by Western governments may lead countries to reconsider investing their funds in US Treasury bonds and finding ways to reduce their use of the US dollar. A significant portion of US dollars is held outside the US, estimated at 60-70% of all US dollars in circulation, due to its status as the dominant reserve currency and wide use in international trade and finance. The one trillion dollar trade deficit of the US is a consequence of being the reserve currency, as a strong dollar makes it difficult for US businesses to export goods and services while simultaneously making it easier for other countries to sell to the US. Countries are expending resources and labor making goods and shipping them to the US in exchange for green pieces of paper. The US is sending back mostly empty containers. The US budget deficit is $1.7 trillion in 2023 which must be paid for by selling more Treasury bonds. The interest on this debt is greater than the military budget. To pay the interest on its debt, the government sells more Treasury bonds, leading to a cycle of increasing debt. The US printing of dollars has been exporting inflation in other countries for decades, but will eventually increase US inflation. Raising interest rates to fight inflation decreases consumer and business spending, increases the trade deficit, and higher interest payments on government debt. Other countries will respond to the US raising of interest rate by raising their interest rate, risking global recession. The Plaza Accord addressed this issue in the past, but it will be challenging to implement such measures now. A well-run country collects taxes to fund essential services and infrastructure. In the US political system, wealthy corporations and individuals can lobby for tax breaks. The shortfall in funding for the US government has reached $34 trillion. Instead of collecting taxes from wealthy corporations and individuals, the government pays interest to them. The top 10% of earners (36%) and corporations (9%) together contribute 45% of total federal revenue. Banks hold Treasury bonds for their safety, liquidity, regulatory compliance, and potential profitability. When interest rates on Treasury bonds rise sharply, the decrease in existing bond values reduces liquidity and makes it harder for banks to raise cash quickly. This causes depositors to lose confidence, triggering a bank run. In response to the current bank run, the government is issuing Treasury bonds to raise funds to compensate depositors for any lost funds. There are $19 trillion in deposits in US banks. The estimated unrealized loss on US banks' financial assets is $1.94 trillion, while the total size of their equity is $2.1 trillion. SVB had a $15 billion loss, while their capital is $16 billion. Around 2,315 of the 4,800 banks are currently on assets worth less than their liabilities. It's a systemic issue. A similar issue is being played out with risker Mortgage-Backed Securities (MBS) valued at $12 trillion. The new Bank Term Funding Program (BTFP) helps prevent discounted bondholders from taking losses when they must urgently sell them. The BTFP accepts discounted bonds at face value to be used as pledges for loans to inject more money into the economy. Risking more inflation. It's a Ponzi scheme. Ponzi scheme cannot taper. We reached the can and there is no more road.

The US and its allies do not recognize the legitimacy of the Chinese government and will use all possible means to change it. China is reacting to each U.S. action. It is considered impolite to not reciprocate. Following the September 11, 2001 attack, the U.S. shifted attention from China to the Middle East, easing China's entry into the World Trade Organization (WTO) in December 2001. As China emerged as the "world's factory," producing inexpensive goods that lowered global inflation, central banks, including the U.S. Federal Reserve, maintained low-interest rates, fostering excessive leveraging in the U.S. and Europe. This, coupled with risky financial practices and the housing market's collapse, led to the 2008 Global Financial Crisis. Despite feeling unsettled by China's economic growth, the United States actively pursued financial support from China, for China to continue purchasing U.S. Treasury bills. In 2011, Obama proposed the "Pivot to Asia" strategy, which shifted the focus of US foreign policy from the Middle East to Asia. This, along with the wargaming of a sea blockade of Chinese commercial ships on a global scale, the formation of the Trans-Pacific Partnership (TPP), which deliberately excluded China, the establishment of a 2500-strong US marine air-ground task force in Darwin, and an increase in the rotation of both US Air Force planes and US Navy vessels through Australian bases, alarmed the Chinese leadership. Unable to remain passive, hide their strength, and bide their time, Xi Jinping was selected as the leader of China in 2013 to make China more secure. These included the establishment of the Asian Infrastructure Investment Bank, the Belt and Road initiative, and the building of artificial islands in the South China Sea. In 2015 the "Made in China 2025" initiative was announced. These policies directly responded to the perceived threat posed by the "Pivot to Asia" strategy. No country is excluded from joining the AIIB or the Belt and Road Initiative. Obama's intentions were clarified when he responded to Xi Jinping's proposal on September 25, 2015, to make the South China Sea (SCS) a non-militarized zone by initiating freedom of navigation operations in the SCS on October 27, 2015. Anywhere in the world, if there is a border dispute, it is usually the result of a line drawn by an Englishman; if it is an internal dispute, it is usually the US fueling it. Difference in implementation of divide and conquer strategy. The 'Arsenal of Democracy' produces 40 percent of the world's weapons. It is a very profitable business model in which other countries buy these weapons to fight each other. The key is maximizing profits without shedding US blood by inducing conflicts between and within countries outside the USA. One client is eager to spend AUD 368 billion to buy a few high-quality used nuclear-powered submarines. This business model's critical components are NATO, QUAD, ANZUS, Five Eyes, AUKUS, and MCC (Mutual Cross-Service Agreement). The US makes the rules, and the US and their friends do not have to follow them. Since WWII, the United States has started 201 wars, overthrew 36 foreign leaders, killed or attempted to kill 50, dropped bombs in 30 countries, and interfered in 86 foreign elections. To make the world safe for democracy, the US has caused the deaths of tens of millions of people in its conflicts in Korea, Vietnam, Yugoslavia, Iraq, Afghanistan, Libya, and Syria. The CIA was involved in covert operations that resulted in mass killings of communists in over 22 countries, 500,000 to 2,000,000 Indonesian civilians disappeared in 1965-1966. Japan and the Philippines are cornerstones of the strategy to keep Asia poor and divided. This policy is articulated in the top-secret U.S. Foreign Policy written 76 years ago. February 24, 1948, Declassified U.S. Foreign Policy: Furthermore, we have about 50% of the world’s wealth but only 6.3% of its population. This disparity is particularly great as between ourselves and the peoples of Asia. In this situation, we cannot fail to be the object of envy and resentment. Our real task in the coming period is to devise a pattern of relationships which will permit us to maintain this position of disparity without positive detriment to our national security. ... that Japan and the Philippines will be found to be the corner-stones of such a Pacific security system and that if we can contrive to retain effective control over these areas there can be no serious threat to our security from the East within our time. Taiwan was added to the Pacific security system after Chiang's army retreated to the island of Taiwan in 1949. South Korea was added after the Korean War in 1953. The attempt with Vietnam, Laos, and Cambodia was abandoned in 1975. The 1989 attempt in China failed. The 2019-2020 attempt in Hong Kong also failed. Politics determines how wealth is distributed within a country, while wars and diplomacy determine how wealth is distributed between countries. The citizens of the world's richest country with the most expensive military are enjoying these benefits: Economic inequality, inflation, stagnant real wages for the last fifty years, costly healthcare, an expensive education system, student loan debt totaling $1.7 trillion with an average balance of $38,000, poor public transportation systems, racial inequality, mass incarceration, the militarization of police, deteriorating infrastructure, housing affordability, homelessness, the opioid epidemic, and gun violence. Instead of prioritizing the welfare of its people, the US meddles in other countries to spread its version of democracy. The question is whether the USA can continue to survive with its version of democracy, not whether it can have any leadership role in the global order.

The US and its allies do not recognize the legitimacy of the Chinese government and will use all possible means to change it. China is reacting to each U.S. action. It is considered impolite to not reciprocate. Following the September 11, 2001 attack, the U.S. shifted attention from China to the Middle East, easing China's entry into the World Trade Organization (WTO) in December 2001. As China emerged as the "world's factory," producing inexpensive goods that lowered global inflation, central banks, including the U.S. Federal Reserve, maintained low-interest rates, fostering excessive leveraging in the U.S. and Europe. This, coupled with risky financial practices and the housing market's collapse, led to the 2008 Global Financial Crisis. Despite feeling unsettled by China's economic growth, the United States actively pursued financial support from China, for China to continue purchasing U.S. Treasury bills. In 2011, Obama proposed the "Pivot to Asia" strategy, which shifted the focus of US foreign policy from the Middle East to Asia. This, along with the wargaming of a sea blockade of Chinese commercial ships on a global scale, the formation of the Trans-Pacific Partnership (TPP), which deliberately excluded China, the establishment of a 2500-strong US marine air-ground task force in Darwin, and an increase in the rotation of both US Air Force planes and US Navy vessels through Australian bases, alarmed the Chinese leadership. Unable to remain passive, hide their strength, and bide their time, Xi Jinping was selected as the leader of China in 2013 to make China more secure. These included the establishment of the Asian Infrastructure Investment Bank, the Belt and Road initiative, and the building of artificial islands in the South China Sea. In 2015 the "Made in China 2025" initiative was announced. These policies directly responded to the perceived threat posed by the "Pivot to Asia" strategy. No country is excluded from joining the AIIB or the Belt and Road Initiative. Obama's intentions were clarified when he responded to Xi Jinping's proposal on September 25, 2015, to make the South China Sea (SCS) a non-militarized zone by initiating freedom of navigation operations in the SCS on October 27, 2015. Anywhere in the world, if there is a border dispute, it is usually the result of a line drawn by an Englishman; if it is an internal dispute, it is usually the US fueling it. Difference in implementation of divide and conquer strategy. The 'Arsenal of Democracy' produces 40 percent of the world's weapons. It is a very profitable business model in which other countries buy these weapons to fight each other. The key is maximizing profits without shedding US blood by inducing conflicts between and within countries outside the USA. One client is eager to spend AUD 368 billion to buy a few high-quality used nuclear-powered submarines. This business model's critical components are NATO, QUAD, ANZUS, Five Eyes, AUKUS, and MCC (Mutual Cross-Service Agreement). The US makes the rules, and the US and their friends do not have to follow them. Since WWII, the United States has started 201 wars, overthrew 36 foreign leaders, killed or attempted to kill 50, dropped bombs in 30 countries, and interfered in 86 foreign elections. To make the world safe for democracy, the US has caused the deaths of tens of millions of people in its conflicts in Korea, Vietnam, Yugoslavia, Iraq, Afghanistan, Libya, and Syria. The CIA was involved in covert operations that resulted in mass killings of communists in over 22 countries, 500,000 to 2,000,000 Indonesian civilians disappeared in 1965-1966. Japan and the Philippines are cornerstones of the strategy to keep Asia poor and divided. This policy is articulated in the top-secret U.S. Foreign Policy written 76 years ago. February 24, 1948, Declassified U.S. Foreign Policy: Furthermore, we have about 50% of the world’s wealth but only 6.3% of its population. This disparity is particularly great as between ourselves and the peoples of Asia. In this situation, we cannot fail to be the object of envy and resentment. Our real task in the coming period is to devise a pattern of relationships which will permit us to maintain this position of disparity without positive detriment to our national security. ... that Japan and the Philippines will be found to be the corner-stones of such a Pacific security system and that if we can contrive to retain effective control over these areas there can be no serious threat to our security from the East within our time. Taiwan was added to the Pacific security system after Chiang's army retreated to the island of Taiwan in 1949. South Korea was added after the Korean War in 1953. The attempt with Vietnam, Laos, and Cambodia was abandoned in 1975. The 1989 attempt in China failed. The 2019-2020 attempt in Hong Kong also failed.

Great show. It just demonstrates how much the level of scholarship has fallen. The two Americans here are just mediocre.

real smart Ronnie chan and an distinguished host 👍

Kudos. Charming art and great presentations.

👏

extremely interesting !

老陳扮識嘢，其實只識條尾，身有架波味，對中華文明要再考考才知。所以可信度50%-

Indian classical at his best

You are just trying to say your history is false. But can't say.

Great conversation between Brian and Professor Bell👍

Huge admiration to Ronnie Chan 陈启宗先生❤ as always

May I ask how you measure your flour -- do you spoon it into the cup and sweep off the excess? This is about 125 g per cup. Thanks.

Tao Wang has a very sensible assesment of the situation while the other pushing the Western agenda

Why harp about China that was rather than more importantly China that is n China will be?

Why do Hong Kong people treat China as a seperate country? Hong Kong is China and Hong Kong is not UK neither is it a independent country.

😊😂😊

If India isn't only for Hindus, Pakistan not only for Muslims Then, the Creation of Pakistan is the Blunder 😂😂 Two Nation Theory was Wrong then 😅😅

Very nice

Hello how to apply your restaurant?

Could you organize another session with Manu allocated a longer talk-time, poor bloke hardly spoke !

TIL, thank you. Change in perspective is huge !

Real knowledge here

I like the insightful perspective provided by the Egyptian representative (Moe Hafez) regarding Egypt's multifaceted relationships. The nuanced understanding of Egypt's ties with both the USA and China, along with the thoughtful approach to the complex situation in Gaza, was particularly enlightening.

Thanks a lot for this great program, you guys deserve more subscription!

🎉Very enlightening to me🎉 A. Slone Heart❤

Some European intellectuals need to leave their comfort zone, get back some real touch on ground.

But the European didn’t exercise the same principle of respect in other continents, why invaded Iraq? Why invaded Libya? And they tolerated Israel aggregation of Palestine for many years.

I am surprised to hear about the gag order from Pompeo. Freedom has its limits, even in America. 15:30. What does "focused" mean? Another word for biased, perhaps? The ambassador is keen to stress US news reporting is not inaccurate. I sense some vulnerability from the ambassador. I find 99 percent of US reporting on China is rather "focused" on only bad news, while conveniently ignoring context, nuance, background, balanced view points. In other word, biased. I emphathize with the ambassador's desire not to offend the western media. After all, we all need a job and oay our bills at the end of the day.

Two very intelligent women I hope to see more of both them in cinema & film! Great conversation. 48:28 Wow ❤ 54:00 what a daring question 😂😂

Impact investment KPI is numbers of smiles on people created

The lighting on this video is terrible sheesh 😂😂😂😂😂 Please better hashtags on this video like #NeenaGupta, this is hard to find.

She knows China Economy better than any one not living in China.

Audio is just fine for me.

Tao Wang is right to the point on China’s economic rise! If we reverse that process and get more central control, we will repeat the economic reverse.

It is a pity the audio quality is hardly audible…

Wang doesn't mention that nothing happens in CN until and unless gov says so...she tries too hard to please the West and fit in the Western narratives. It's quite superfluous. Ten Crisis (十次危机） by Prof. Wen Tiejun is a much more solid and objective accounts of Chinese economy, its evolution and how the CN gov thinks in surviving those ten crisis.

Really joke to have such experts to talk about Chinese economy😢! They are nothing but propagandists trying to smear or talk down china in every way or every chance!

Everything you're saying is anti-China and try to deter Beijing. The US has failed global society as whole

IMF has estimated 5% GDP growth for China and 2% for USA. So, why is the estimate so ugly for China’ growth? China is moving on the value chain (e.g., EV, 5G, battery technology, 7nm semiconductor). You really know shiit about China.

I'm fascinated how saffron is harvesting . What a delicate flowers and pistiles.

Professor Kornberg is smart and wise beyond belief. He is a treasure for the world!

AsiaSocietyHK please do a much better job next time recording your program

Wonderful talk but terrible audio quality

Such entertainment listening to foolish people talk about anything

欧盟就是打其他人的小孩不心疼而已，欧盟和中美不是一个竞技场的玩家

I love the last question made by Ronny. That tells a lot what to expect from the USA.