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My vision of China is more in line with a slug in salt.

Per capita income is also very important😂

Toilet paper cost needs maybe rough calculate 100k a month, actually they have options use Sand... Iraq war to pay debt 9/11.. when warning they take play things... debt..1..2. Trillion+ dick man suck money 1 trillion= American government get big fack....

need money, debt money to be pay,

That Iraq war that just a big fack Rob...

They were amazing thanks to Bright and Cobden in Birmingham UK

How was it possible for this presenter to not even mention the Five Year Plan system that plays such an important role in the Chinese economy? Nor to examine how it differs from the Soviet version which is key to understanding the more flexible and dynamic Chinese planning system. Nor did the presenter mention the role of state investment in China which is double that of its competitors and explains how China has built its massive infrastructure and has been so successful in industrial innovation. Lastly, the presenter did not mention the international context especially in the last decade. Instead, she focuses on the superficial political institutional questions and the 'great man' approach to history.

I like 'Use what you have'! reminds of the 'effectuation' principle proposed by Saras D. Sarasvathy in the book Elements of Entrepreneurial Expertise

When World Bank is mentioned in this video, I know this is promoting western hegemony.

China's model is echoed by many economic pundits as exports over imports. 'They lend but don't like to borrow!' This from a financial standpoint is troubling. Yes, its currency has gained strength on the exchange market. At what cost? I am shocked the Yuan is currently at $0.14. And, the Yen is $0.0063 - 33% below what I thought was a stable price. China reaching $0.05 to $0.1 was a miracle but understandable with its lending practice forcing this on the World Bank to protect the USD.

No, no, no, no! By the 1980s, China was on the road to success. The Western world knew this was going to be a new economic powerhouse. To this day some bad actors, opposed to a free market economy, want to halt or reverse this trend. China's relaxing its totalitarian regime was to boost innovation - new ideas and models for doing business. Stigmatized as copycats. This is still echoed by many in Western circles - even on a governmental level. However, by allowing citizens to believe they are self-actors stimulated the 'why not try to be rich mentality - the hallmark of capitalism and its apparent success from the late 1800s onwards. Summary: Good governance or capitalism is needed for economic development. The former is a sure winner. The latter is nature at its worst using natural selection. Hence why communism is still a financial model to ensure everyone is treated equally in society. Downsides to being a full Red flag-waver: lack of ownership and self-determinism - why try to do more? Only the bare essentials are needed - rubbish cars and equipment, lack of choice in goods and foodstuff, and no escape from serving the state for you or your children. The illusion of freedom is important even if that dream is hard to obtain.

They shouldn’t require vale judgements. Policy should be aimed at maximising wellbeing per capita via socioeconomic cost benefit assessment including the consideration of the distribution of those benefits. Politicians should be paid in this basis as well.

Is Russia rated as one of the most corrupt nations in the world..I understand that Putin and his mates have stolen over a trillion dollars from the Russian people.

ElonMusk should take in the fact that mathmatics don't always play yet in a global economy we have more resources to exploit if we create an ecosystem which nurtures society. Its better for his science brain but not his political.

Mao's foundation made possible...the impossible.

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The problem is when people have all the feelings right but the facts wrong and the the lack institutions for actual change.

He’s aaaaallllmost there…almost.

The young man at 2:19 and 10:07 is Gary Stevenson! A very important person. His channel is called Gary's Economics.

Thank you. Best wishes.

garbage should not be saved or prolonged

The 401K. When this came out how many people knew what to invest their money in? Hard working Americans who have full time jobs, families, when do they have time to do their homework on financial literacy? Those who praise this confusing investment plan don’t know what’s in their Growth Fund, their Value Fund or their Foreign Investment Fund. I asked my broker about this? Could never get an answer. Nice. But they love pulling that monthly fee from my account.

The unpaid work lies outside the marketplace and is, hence, unpaid by definition. This doesn't undervalue their work. Reward for such work is not material in nature. What makes you think paid, male work is a great jolly ride to which women don't have access to? Most of the dangerous, high-risk work is done by men, which is also exploitation of men if one views it from a leftist lens.

Loved this video so much ❤

Isnt austerity spending on government services what it makes on tax revenue? Why is this such a crazy idea

I really enjoyed this series, I have been craving a better understanding into the organizing principles of china and maybe you make it seem simple, but it kind of seems like common sense. If anything the current world bank method seems like it was built for people to fail. Which would make sense for a country seeking hegemony to force other countries to adopt measures that would decrease survivability. I feel bad for all the countries that bought into that stuff. btw US is not "democratic", yea we vote for leaders but democracy is predicated on being properly informed, which we are not, on a collective level.Please keep up the material.

The world can learn a lot from two Chinese lead countries with miraculous economic achievements - China and Singapore! The key is good leaders and anti corruption. The west currently has the worst leaders and systemic corruption that don't serve its citizens.

I hope you all realize this guy’s father used to direct McKinsey….we are talking deep stater to the utmost degree….he helped cause the problems he is bitching about and he hates Trump because Trump exposed their kind and if he comes back he will eviscerate them. His argument is completely intellectually dishonest and he thinks Obama was duped by the system too….instead of the one who LED us to this Hell. STOP listening to wealthy sophisticated liberals who want to destroy you….regardless of race or politics.

Fantastic. Thank you Prof Ang

This guy was doing awesome until the end when he says that Trump is the embodiment of all that is wrong. 😂. It was then that I realized these guys are just commies. Worship of government and growing government power is why we are in this mess….not worship of the rich….im sorry if YOU losers used to worship the rich. Obama and Biden have more to do with your problems than Silicon Valley or Exxon Mobil….mostly they make the products that keep you alive. Don’t buy them if you don’t like what they say about you

Well, good govermennce did not exist in Japan and Korea to.. one Imperial and the dictatorship, very similar to china, it is almsot that Eugnics and ethnic groups have an essier way to succee..i.e.. IQ..South Afirca are rich nation in the 1980 going to sheet cause of good govermemce [deomcracy and good constitution] is leading it to sheeet...so...here all these thoeries fail...

there's serious flaw on this theory!now days i do see prices only rise up with all that competition and exploitation of cheap labor,resources and supreme technologies !!!!!and it is because of always rigging the prices ,or negotiating them among big retail ,so the consumer gets screwed while the government officials anywhere in the world are bleating and lining their bank account with bundles of US dollars!!! i have not seen a drop of any commodity or merchandise price in 20 years

China Rise , not cause of Mao but through hard work and understanding of Zhou En Lai and his group, CANNOT CLOSE CHINA . HOW TO GO FORWARD. Of course the Credit must go to Mao, the founder of CCP.

I completely agree

I hate when people like this try to make profit-maximisation specifically about capitalism, when the truth is that other systems of economics also try to maximise profits. At least in capitalism any individual can start a business and gradually build up wealth.

ALL analysis MEANS NOTHING if we dont put human variable inside the equation. How much IQ they have, How much they willingly to get out from poverty. How much they had the stamina.

Jeffrey Sachs was also the lead Chicago Boy that promoted Shock Doctrine to post-Soviet Russia.

Its all about biology/genetics and culture/society/religion, good genetics is the base that results in good governance and that mixed with appropriate culture results in growth; bad genetics results in bad governance but if mixed with good culture results in stagnation; bad genetics results in bad governance and if mixed with bad culture results in degrowth and disintegration of the state into tribalism that by virtue of its small size results in good culture meaning stagnation in a small state; good genetics combined with bad culture results in bad governance and de growth resulting to conflicts/fragmentation and conflicts/fragmentation improves culture and results in growth which results in consolidation which means further growth until culture becomes bad and the cycle repeats. China had always been on top respective of other nations for most of history, its culture turned bad due to decadence and Marxism, reforms were made and growth resumed; China always had a good base which is its genetics, not something most of the third world have so for them, using what they have is already difficult and results in eventual failure unless they are conquered by great countries and forced to have good culture under the yoke of those with good genetics which will result in some growth, but if they are decolonized then they revert to their baselines. The US had good genetics and culture initially making growth after decolonization possible, India had bad genetics and culture making real growth impossible after decolonization.

Yuen Yuen Ang is brilliant

Privatisation has been totally disastrous here in Britain

You say so many things but nothing at all. Are you Chinese pro Chinese or pro west ?

I had a lot of faith that China would be by far the leading economy of the 21st century but after Xi consolidated power I am not so sure. Strong central leadership has had the same problem since absolute monarchies, the fortunes of the country often depend on competent leadership, which seldom comes around, if at all. What's more, often to maintain their power, the cost paid is in corruption and ossification of the elites.

Just brilliant! Absolutely brilliant!

thx!

I remember the Freakonomics as well as the Sinica Podcast episodes with Professor Ang. Both were excellent and this series adds to that. Thoroughly enjoying them

I'm hardly anything even remotely close to a China expert but it does seem that your argument over the course of this video series is aimed at discrediting Xi. I'm not saying that's wrong (because honestly, I'm not educated enough on the topic to know) but it does stand out to me.

I think one could make the argument that the United States is "essentially" ruled by one party.

The biggest financial bubble in 5000 years human history 0:51

Modern China does lot of what Keynes proposed

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