Keiser Report via Youtube
In this episode of Keiser Report’s annual Summer Solutions series, Max and Stacy discuss the looming showdown with China and how it is the two largest economies got to this point. They are joined by Chris Fenton, author of Feeding the Dragon, who was once a China dove, now turned hawk. They examine the history of China’s rise and the role that the U.S. elite in that rise at the expense of its working class. When the Clinton administration was pushing Congress to support China’s ascension to the World Trade Organization, with ‘developing nation status,’ then Senator Joe Biden was quoted during the debates as mocking those worried that China would eat U.S. lunch: «А collapse of the U.S. manufacturing economy, if China, a nation with the impact on the world economy about the size of the Netherlands”, was never going to happen», he laughed. He was wrong. They discuss ‘economic blitzkrieg,’ the ‘Thucydides Trap’ and the role of the dollar and what can be done this late in the game to level the manufacturing playing field. And, if jobs return to their motherland, will inflation in consumer goods have to rise?
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