José Viñals, group chairman of Standard Chartered, discusses the global economy and China’s economic headwinds.
‘China needs the world and the world needs China,’ says Standard Chartered chair
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José Viñals, group chairman of Standard Chartered, discusses the global economy and China’s economic headwinds.
That’s totally untrue. No one needs anyone. Everyone is replaceable. From 1949-1979 China was in seclusion, it didn’t do business with anyone in the world. And the world got along without China for 30 years.
he is right. Smart man. he said “are you for or against globalization?”
The West is so used to “globalization” that is one-sided. A regime where all the quality, high-end products are produced by EU and North America and where the Global South merely buys and and imports. The west, America in particular, needs to accept that true globalization means unimpeded trading with minimal protectionist policies. America and the EU were kind of shaken when quality products from Japan and South Korea (Eastern countries) were producing products that competed with what the best of the West has to offer. Back in the 90s, America became quite racist and used fearmongering to demonize Japanese imports when it saw that Japan was becoming richer and richer. Now it is time for the Global South to be the one to produce the quality products here. Now it is China’s time. maybe in the next decades it will be India and then afterwards it will be South East Asia and then it will be Latin America!
If you really beleive in Globalization in the true sense then don’t be so sour when you are getting competition outside of the West and when non-western nations are producing on par or even better alternatives to your own. I guess globalization is only A-okay when the West is on top controlling things? This is not globalization, dear, this is imperialism! Americans and Europeans need to prepare and accept that they might not be the hotspot for the world’s best tech and products in the coming decades. Already, China is dominating the world’s civilian-use drone market with their DJI china-based company commanding over 70% of the market and the first of its kind to really innovate in this sector!
Socialism is really the hindrance.. always expect the state to spare more..
they only like the version of globalization where the top winners takes all the profit.
Well said👍🌹❤️..Couldn’t agree more 👏
well said. US-style “Globalization” is just deceptive. The true core is to build up US-first ordered colonization for most south countries including BRICS. China has taken this opportunity to grow up so rapidly that it will not accept this “colonized” status for ever.
Globalization yes, without totalitarianism, banker only care about numbers.
Big thanks to José Viñals for his unbiased views!
BS China needs the world since its economy consists of western mainly American multi national corporations
The US is spending currently two trillion $ in reshoring many of these corporations and the result will be a catastrophe for the Chinese economy
China only copies steal intellectual property because they are unable to invent anything
China did not abandon the world, China was just dumped by G7. G7 is not the world though they think they are the world however.
To bring viruses to the world 🌍 😔 got it thanks smart guy .
You can’t have it both ways. If you’re for globalization you can’t possibly be for climate change. It’s an either or.
The IRA will cost Americans well past 2050. It’s been labeled as bigger than the New Deal, if you’re an American you absolutely know what I’m talking about. Joe Biden is no FDR and never could be.
The world doesn’t need more fake brands and cheap copies.
Didn’t u even watch the whole video?
The ignorant underdog is barking
@@directxxxx71 Yes, I did. Your point?
@@directxxxx71wasting your breath here…
Except you still needed the Chinese-made electronics to type and post your tough-talking message to Youtube.
More and more influential and powerful people globally are ignoring western journalists because they muddy the waters with their agendas and are no longer independent. This is telling 🤔
The world does NOT need a CCP-lead China.
The West put all their resources on war efforts, Iraq war, Afghanistan war, now Ukrain and Israel etc.. So they put little to the future industry like solar or EV which needed big investment from the government to make it viable, now it was surpassed by China since their government put no money in the foreign wars but only to their new industries. Now we see the results.
Very good speech, respect 🎉
You can tell he shut the guy mouth right away. I can’t believe you have such biased interviewer from CNBC. I think he forgot the “chips act” and and all the series of protectionism policy carried out by the Biden administration. Really lame that interviewer.
>> I think he forgot the “chips act” and and all the series of protectionism policy carried out by the Biden administration. << The CHIPS and IRA are what comes after two decades of China's discriminatory, anticompetitive trade practices. The EU's recent illegal subsidy probe last year likewise comes after as a follow-up to the EU's first warning shot against China's illegal NEV practices -- such, forced IP transer via JV, filed in 2018.
Yes ..
The cruel one year imprisonment of Huawei Meng, the slanderings in the US controlled medias, the gang gathering against the Chinese, the ban against the Chinese students, the Nancy Puke forced entry , the supply of weapons to Taiwan, the cyber spying , the Chinese forbidden to join the US NASA space station and more …is it wonder that the Chinese government is not engaged anymore? The tremendous amount of stress and anxiety felt by China makes China to no longer consider the US as an ally…this outcome is terrible for the US.. just go figure why this is so bad for the US economy..
India need the world, but the world don’t want India.
I agreed with Mr. Jose Vinal🌹👏
Why do they set up these makeshift outdoor studios and not conduct interviews inside? The hosts and guests always look so uncomfortable and cold.
Countries which work with the most advanced country in economy, technology and finance are wise. Their future will be bright. But those who refuse to do so due to prejudice and political threat from the wannabe hegemon will be left behind and find it very hard to catch up. They will definitely be the pariahs of the 21st century. If at this stage of development the wannabe is still a wannabe, there is no hope for it to get there, especially if it is broke and lack of talents.
The Chinese Communist Party, along with tycoons, rich people who have business connections and companies headquartered in China, do not want a prolonged war between China and Taiwan that will affect to their companies and businesses, so they find every way to create opportunities to shorten the duration of the war between China and Taiwan if it really breaks out to minimize the impact on their businesses. they. They find every way to manipulate democracies by suing politicians with anti-China ideologies that are detrimental to their business. It seems that China or to be more precise the Chinese Communist Party is the main culprit of the recent wars by inciting Russia to war against Ukraine and NATO,then inciting Iran,Palestine and Muslim countries fight against Israel with the aim of causing the US and its allies to send weapons to these countries to deplete weapons and defense budgets so that in the near future it will be very easy for China to invade Taiwan.
Correct, China needs the world, and the world needs China for Common Prosperity. The US wants to Dominate the world, but the world does not want to be Dominated by the US. The root cause of the turmoil in the world now
This arrogant and condescending interviewer still thinks that China should remain making cheap and low quality products for the world.
China is doing well with the world, it is the collective West, that isolating itself and rotting
生完差不多一個億 六個
Talk talk. But someone want to police. get freebies from the world
The world certainly needs China, but China with its expanding internal customer base needs the world just a tad less.
Agree with the speaker
It is OK for China to export low end goods but not OK for China to export high end goods! This says it all. Whoever can make it cheaper should have the market!
Trade is a win win.
USA would want to decouple with China.
This would result in a lose lose….
USA would end up buying more expensive goods and China would be doing the same.