Jim Rickards breaks down the meeting between President Joe Biden and President Xi Jinping. Plus, he’ll reveal how China’s growth is slowing down to dangerous levels… and how the superpower may just pull the rest of the world down with it….(read more)
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Jim Rickards: China Heading for Recession, Not World Domination
Renowned financial expert and author, Jim Rickards, has made a bold claim about China’s economic future. In a recent interview, Rickards stated that China is on the brink of a major recession, contrary to popular belief that the country is on track to dominate the global economy.
Rickards, who is known for his accurate predictions about market trends and economic crises, has long been skeptical of China’s economic prospects. He argues that the Chinese economy is laden with debt and overcapacity, and is facing significant headwinds that will inevitably lead to a sharp downturn.
China’s rapid economic growth over the past few decades has been the subject of much speculation and debate. Many experts have pointed to China’s ambitious infrastructure projects, technological advancements, and burgeoning consumer markets as evidence of its inevitable rise to global dominance. However, Rickards believes that these developments are simply masking deeper structural problems within the Chinese economy.
In particular, Rickards points to China’s massive debt burden as a major cause for concern. The country’s state-owned enterprises and local governments have accumulated an enormous amount of debt, much of which is unsustainable and has the potential to trigger a financial crisis. Moreover, China’s real estate market is showing signs of instability, with property prices soaring to unsustainable levels in many major cities.
Furthermore, Rickards argues that China’s overcapacity in industries such as steel, aluminum, and cement is a major threat to the country’s economic stability. The Chinese government has been propping up these industries with subsidies and cheap credit, but Rickards warns that this is not a sustainable solution and will ultimately lead to a collapse in these sectors.
Rickards also highlights China’s demographic challenges, including an aging population and a shrinking workforce, which will further exacerbate its economic woes.
In light of these concerns, Rickards predicts that China is headed for a major recession in the near future. He believes that this downturn will have significant ripple effects on the global economy, as China’s trading partners and emerging markets will be negatively impacted.
While Rickards’ predictions may seem dire, they serve as a reminder of the complexity and fragility of the global economy. It is important for investors and policymakers to consider alternative perspectives and potential risks, especially when it comes to major players like China.
In conclusion, Jim Rickards’ warnings about China’s economic future should not be dismissed lightly. While China’s ascent has been remarkable, it is crucial to remain vigilant and consider the potential downside risks. It remains to be seen whether China will be able to navigate its challenges and prove Rickards wrong, but his insights serve as a valuable reminder to proceed with caution in the complex world of global finance.
China blaming the US for the opium wars is like the US blaming China for Japan's attack on Pearl Harbor. As if it would've been reasonable for the US to retaliate against China instead of Japan on the ground that "Japan, China, whatever they're both Asian — close enough." The US wasn't responsible for the opium wars. Indeed, American commentators at the time characterized the opium wars as appalling. Moreover, fentanyl is far more dangerous and addictive than opium. Lastly, the standard of behavior — in terms of kindness and fairness — is much higher today than it was in the 1800s. What was merely frowned upon then is usually considered horrific today. Given that CCP fentanyl kills tens of thousands of Americans every year, and given the CCP revels in those killings, the president shouldn't be meeting with any CCP leaders — ever. Meeting with them confers legitimacy they don't have and certainly don't deserve.
Opium war. FDR was named after a relative, Mr. Delano, who earned his first fortune in importing opium to China. This he squandered in the stock market. So he returned to the well to earn another "competance" (about $100 Gs). These cartel familes have a saying : "After the third generation, nobody cares where the money came from."
thank you jim. It's always a pleasure when i can catch in a video
No China is not heading for a recession, because they are already in deep recession, they are now entering a full-on depression, and when they do, they will bring down the world's economies with them. hence the great tribulation which Jesus Crist warned us about in the bible. mans rule is ending now, the next world events about to occur is the all-out banning of all religions, the big, massive depression and finally WW3 and Armagedón (Judgment Day) both at the same time, stay tuned.
In China you can't drink the water. Food from the mainland is difficult to get. That is why they are all over the oceans of the world hoarding all the seafood.They are heading for the Mao years!
My comment that mentioned Chinese Aurum did not get published. Why YT?
Goldgoldgold
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
Real nice touch by Joe…always the diplomat
I appreciate Jim's comments except the ones on Israël and China, which are not accurate at all. China is in far better shape than the USA because it still has industrial capacities and most importantly they are not involved in jews induced western suicidal policies: feminism, black lives matter, lgbt+, refugees welcome, etc
Great Analysis. Great information on China. Thank you!
Joe Biden probably does need to step down as president. My concern is we need to look at who will take over. Kamala barely has one cell in her brain, not worthy of running this country. It would likely be Obama running her from the sidelines. For the moment I think we should leave things as they are. Really, how much more damage can he do?
China never wanted to dominate the world. However with 1,45 billion people the country aware that the US determined to isolate China in key areas like technology. The US a war based economy which scares China
China building coal burning power stations with pollution filters and using environmental controls designed by Japan monitoring atmospheric conditions.
Sufficiently cynical and straight-talker ready to admit the US in a dilemma. How does the US handle China with a centralised political system that charts a steady course. The US bounces around with Biden and Trump confusing the world. Why take America seriously with Ukraine war costing billions; plus Ukraine empty by Xmas?
USA is going down the plug hole
Chinese playbook Sun Zhu The Art of War, Biden playbook Candyland
Also Gavinator met with Xi in China
Jim is the best geopolitical advisor in the world
German auto? China just became the largest auto exporter surpassing Japan. Deutsche Welle talks about the threat of Chinese EVs all the time. VW ID series sell in China at a 50% discount. The problem is overinvestment and lack of transfer payments like EITC meaning oversupply wears profit margin to zero, auto workers lose jobs to robots, PPI & GDP deflator go negative, core CPI on the brink of deflation. Ironically that is how capitalism ends according to Marx.
Always great to have an adult in the room which Jim always brings to the table. Makes me sure less nervous about the BRICS Currency as China will no doubt attempt to create trickery in that for their favor which makes me know India will most likely be a foot in foot out member of not pull out altogether which basically tanks it before the bond market gets going and keeps the petrodollar king. If I’m reading it right. Now I’ll just worry about CBDC’s being my last reason to find island living for freedom. Thanks Jim. Not one media outlet has spoken this truth.
People who lie don't get very far. Truth catches up to them sooner or later.
Jim Rickards has the best analysis in economics. HIs ability to dissect the sociopolitical current events at a national and international level is rare. I try to watch and listen anytime Mr. Rickards is speaking. I always learn something.
Thanks for all the interesting and helpful commentary. Your YouTube channel will likely help your overall business effectiveness a lot in addition to all your other communication avenues.
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Xi is dictator my friends, he is the president of the Communist Party and also president of the country at the same time.
Blinken's face was priceless when Biden called Xi a dictator. It seems both the very young and very old lack any kind of filter. The inner monologue is megaphoned loud and clear.
Thanks for the update, Jim! Always appreciated.
If Biden resigned , then Obama’s shadow government would need another puppet !
Let me kick things off… We need Joe Biden to resign… Now. The country is a mess with him in office.
Well, Xi really is a dictator, recessions notwithstanding.