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De-dollarization: China drops US Treasury bonds, instead buys gold, oil, metals
China is reducing its holdings of US Treasury securities. Instead, the People's Bank of China is buying gold, and Beijing prioritizes imports of important commodities like oil and metals. Ben Norton discusses the geopolitical impact of de-dollarization in the world's largest economy.
Topics
0:00 Why countries are de-dollarizing
1:05 Russia & China
1:41 Brazil & China
2:18 Persian Gulf oil & gas
3:29 Central bank FX reserves
4:54 China drops US Treasurys
6:15 Debate in Beijing
8:40 Gold
9:37 Charts: China buys metals & oil
11:21 Strategic petroleum reserve
11:53 Belt & Road Initiative
12:50 East Asia funds US deficits
14:25 Global South funds Global North
15:25 Japan replaces China as top US creditor
16:03 US inflation, interest rates, bond yields, & debt
18:48 Outro
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US Senator Lindsey Graham says Israel should nuke Gaza
US Senator Lindsey Graham insisted in a TV interview that Israel should drop nuclear bombs on Gaza, where more than 2 million Palestinian civilians, including 1 million children, are trapped under what the Israeli defense minister called a “complete siege”. Ben Norton discusses Washington's complicity in crimes against humanity.
Atomic bombing of Japan was NOT necessary to end WWII. US gov't documents admit it: https://geopoliticaleconomy.com/2023/08/07/atomic-bombing-japan-not-necessary/
Links and sources here: https://geopoliticaleconomy.com/2024/05/12/senator-lindsey-graham-israel-nuclear-weapons-gaza/
Topics
0:00 Intro
0:31 Lindsey Graham says Israel should nuke Gaza
1:11 Fact check
1:59 Israeli minister called to nuke Gaza
3:55 Crimes against humanity
4:47 US support is bipartisan
5:26 Israel's nuclear weapons
6:45 Israel offered nukes to apartheid South Africa
9:05 US atomic bombing of Japan was not necessary
13:10 Outro
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How the dollar's 'exorbitant privilege' enriches the USA (and global elites)
How much does the US benefit from printing the global reserve currency? An economist calculated that US average daily income would fall by 27-57% if the dollar lost its "exorbitant privilege". Ben Norton explains how wealthy investors not only in North America but around the world hold much of their wealth in the dollar.
Link to Philip Pilkington's report and Twitter account: https://twitter.com/philippilk/status/1782409654519128497
Topics
0:00 US dollar dominance
2:00 Economics of exorbitant privilege
5:23 Current account
9:29 Balance of payments
12:31 Effects of dollar hegemony
14:45 Neoliberalism & financialization
17:41 Foreign capital funds US deficits
19:28 Global 1% invests in US assets
20:35 Super Imperialism
22:25 Fed inflates asset bubbles
25:22 De-industrialization in West
28:06 Industrialization in BRICS
28:57 Investment & FDI
33:08 Wages & manufacturing
35:00 Re-industrialization?
38:16 Outro
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Is Japan in crisis as yen crashes? Or is USA exporting its economic problems?
Japan's currency the yen has fallen significantly against the dollar. It its economy in crisis? What is the role of US interest rates, inflation, debt, and deficits? What about China? Ben Norton explains the complex geoeconomic situation.
Topics
0:00 Intro
1:40 Yen plunges against US dollar
3:32 Rising exports, falling imports
4:40 Did Germany overtake Japan?
5:58 Nominal GDP is misleading
7:27 PPP is much more accurate
9:25 Misunderstanding GDP figures
10:53 US deficits & debt drive GDP growth
12:37 Strong US dollar
13:58 Industrialization & manufacturing
15:31 Current account
16:15 US Treasury securities
18:09 Why is the yen falling?
18:43 Interest rates
20:37 Bond yields
23:28 Why doesn't Japan raise interest rates?
23:50 Japan's debt
26:18 Inflation
29:32 US Treasurys
30:29 De-dollarization: China drops US bonds
33:14 TL;DW (conclusion)
35:07 Outro
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Xi Jinping blasts US/NATO for bombing China's embassy in Serbia
While visiting Serbia, China's President Xi Jinping condemned the US and NATO for bombing Beijing's embassy in Belgrade, Yugoslavia in 1999. Ben Norton discusses why Washington launched the attack, and lied about it. Then Ben analyzes China-Serbia relations and the Belt and Road Initiative.
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US politicians threaten to invade Int'l Criminal Court if Israel faces war crimes charges
US Senators sent a letter to the International Criminal Court (ICC) prosecutor, threatening to impose sanctions and even invade the Hague if it issues arrest warrants for Israel's Prime Minister Benjamin Netanyahu. The Biden administration is also pressuring the ICC not to charge Israeli officials over their war crimes in Gaza. Ben Norton discusses Washington's deep hypocrisy.
Sources and links: https://geopoliticaleconomy.com/2024/05/07/us-threat-icc-israel
Topics
0:00 Intro
0:48 US politicians threaten ICC
2:26 Trump sanctioned ICC
3:17 Biden's hypocrisy
3:56 Republican senators' letter to ICC
6:47 Hague Invasion Act
8:44 Israel's gen0c1de in Gaza
9:48 Israel unleashed famine in Gaza
10:37 Israeli minister demands "total annihilation" of Gaza
11:26 Amalek
13:16 US hypocrisy on ICC warrant for Russia's Putin
14:51 Africa criticizes ICC
15:42 US/Israel lobbied for ICC Prosecutor Karim Khan
16:46 US & Israel refuse to join ICC
17:02 ICC vs ICJ
18:40 Save face, or save your empire?
21:13 Outro
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Biden signs law to ban TikTok: Latest attack in US economic war on China
US President Joe Biden signed a law that will force TikTok's Chinese owner ByteDance to sell the app, or it will be banned in the US. Ben Norton explains how this is part of Washington's economic war, aimed at protecting Big Tech monopolies in Silicon Valley.
Topics
0:00 Biden signs law to ban TikTok
1:39 US tech war on China
5:00 India banned Chinese apps, giving US Big Tech total control
6:38 Protectionism or economic war?
8:30 Silicon Valley lobbied against TikTok
9:37 Donald Trump tried to ban TikTok... before doing 180
12:15 Role of Israel/Palestine/Gaza?
13:42 US trade war with Japan in 1980s
15:38 "Free market" hypocrisy
18:25 US does not truly want "competition" with China
19:39 Outro
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Cold War 2: US officials call to overthrow China's gov't, expand military budget to $1.4 trillion
A major Congress member and top former Trump administration official published an article calling to overthrow China's government. They boasted that the US is waging a bipartisan new cold war, backed by both Republicans and Democrats, while proposing a military budget of $1.4 trillion per year. Ben Norton debunks the deceptions of the warmongers in Washington.
CIA director calls China biggest ‘threat’, says Ukraine war benefits US geopolitically and economically: https://geopoliticaleconomy.com/2024/02/07/cia-director-china-threat-russia-ukraine-war/
Topics
0:00 Intro
1:07 2024 election
1:59 Council on Foreign Relations & CIA
3:30 Matt Pottinger & Mike Gallagher
5:07 US new cold war on China
8:21 Deceptively distorting Xi Jinping's speeches
12:50 Information warfare
16:00 Colonialism
17:32 Misquoting Chinese officials
20:29 Militarization of Asia
21:49 $1.37 trillion military budget
22:44 US domination of Asia
24:51 Recruit "cold warriors"
26:44 Regime change: Rollback, not just containment
28:05 Manufacturing consent for war
29:21 Outro
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US blocks UN from recognizing Palestine, while Israel attacks Iran
The US vetoed a resolution in the UN Security Council that called to recognize Palestine as a member state, while Israel launched attacks on Iran. Ben Norton shows how Washington is opposing peace.
Topics
0:00 Intro
1:29 Israel attacks Iran
4:39 US vetoes Palestinian UN membership
7:31 What is Palestine's status at UN?
8:57 Which countries recognize Palestine?
10:18 "Two-state solution" hypocrisy
12:01 How USA prevents peace in Palestine
15:35 US defended South African apartheid at UN
18:30 South Africa's anti-apartheid leaders support Palestine
21:02 China supports Palestine
22:56 Russia supports Palestine
23:47 UNSC Gaza resolutions vetoed by US
25:53 US sponsors Israel's crimes against humanity
27:23 Outro
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Iran had legal right to counter-attack Israel in self-defense
Israel attacked Iran's embassy in Syria on April 1, in a blatant act of war. Iran had a legal right to respond in self-defense, according to article 51 of the UN Charter, which is exactly what it did by launching missiles and drone strikes on April 13. But Western governments are absurdly portraying Tehran as the aggressor. Ben Norton explains.
Topics
0:00 Intro
1:11 Israel attacked Iran first
2:50 Biden & Sunak erase history
3:57 US, UK, France blocked UN Security Council condemnation
5:14 Iran invoked article 51 of UN charter
7:02 UN chief Antonio Guterres' hypocrisy
8:32 West is destroying international law
10:46 World War III?
12:25 Outro
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Is China producing too much? US 'overcapacity' accusations: new tactic in economic war
Washington accuses China of producing too many goods and demands "free market" policies. But the US government is spending trillions on industrial policy to protect its own manufacturing sector. Ben Norton details the hypocrisy of the "overcapacity" allegations: the latest strategy in the US economic war on China.
Topics
0:00 Intro
1:00 Chinese 'overcapacity' allegations
3:38 Janet Yellen
5:21 US vows to 'slow down China's rate of innovation'
8:02 Elon Musk begs for tariffs on Chinese EVs
10:40 US wants China to be economically subordinated
12:27 US tech war on China
14:39 Western industrial policy
16:31 Protectionism
18:38 US Inflation Reduction Act
20:12 US Chips Act
22:03 US undercapacity is the real problem
25:11 BYD has just 1.5% of EU EV market share
27:04 China's car exports vs Japan & South Korea
30:37 Is overcapacity a problem?
32:39 Outro
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West votes against rest of world in UN Human Rights Council
In the United Nations Human Rights Council, the West voted against the rest of the world, supporting illegal sanctions (known as unilateral coercive measures). Ben Norton analyzes how the 14% of the population in the Global North constantly opposes the Global South, representing the Global Majority.
|| Geopolitical Economy Report ||
Please consider supporting us at https://GeopoliticalEconomy.com/Support
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CIA and Wall Street are taking over Argentina: President Milei sells off his country
Argentina's libertarian President Javier Milei ordered his intelligence agency to give full power to the CIA, while the US spy agency's director is welcomed to Buenos Aires. Ben Norton discusses how self-declared "anarcho-capitalist" Milei withdrew from BRICS, allied with Israel, and is implementing neoliberal shock therapy, selling off the South American nation in mass privatizations, as most workers live in poverty.
Check out our related video "How extremist Javier Milei became Argentina's president: A story of debt, crisis, and empire": https://youtube.com/watch?v=FN6hoIb-QqA
Topics
0:00 Foreign meddling in Argentina
1:08 Javier Milei
1:41 CIA
3:24 Billionaire oligarch
4:03 Anarcho-capitalism
5:05 IMF
7:17 Inflation
8:25 Poverty
9:43 Israel
11:00 Milei's geopolitical alignment: US & Israel
11:33 BRICS
12:13 US corporations
13:32 Beat the status quo... by joining it
14:24 US-backed coup & dictatorship
18:24 Outro
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US sends troops & weapons to Taiwan. Is it preparing war on China?
The US government has sent troops to Taiwan, just a few kilometers from mainland China, while also selling billions of dollars of weapons and military equipment. Is Washington preparing for war? Ben Norton analyzes the geopolitical situation.
After Ukraine, US readies ‘transnational kill chain’ for Taiwan proxy war: https://geopoliticaleconomy.com/2024/03/01/ukraine-us-kill-chain-taiwan-war
Topics
0:00 Intro
2:15 US sends troops to Taiwan
3:45 Map of US troop location
4:39 US general threatens war on China
5:28 Nuclear weapons
7:03 US once had nukes in Taiwan
10:22 US "arms Taiwan to the teeth"
13:27 US military surrounds China
16:22 Pentagon's "kill chain for the Pacific"
18:23 Elon Musk's role
19:19 US military interoperability with Taiwan
20:57 Washington threatens Chinese sovereignty
22:58 US communiqués recognizing One China policy
27:46 US violates agreements
29:28 Parallels to Ukraine
31:48 Outro
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Israel is committing genocide in Gaza, UN human rights expert explains
Israel is carrying out genocide against the Palestinian people and "systematic destruction of every aspect necessary to sustain life in Gaza", United Nations Special Rapporteur Francesca Albanese detailed in her report titled "Anatomy of a Genocide". Ben Norton analyzes the political context.
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The economics of imperialism: Can the Global South resist Western exploitation? Can China help?
The world economy is structured in an unjust way in which the West drains the wealth of the Global South. Ben Norton discusses the economics of imperialism - and how China has partially reversed it.
China is now the 'world's sole manufacturing superpower'. How did it develop so fast?: https://geopoliticaleconomy.com/2024/01/31/china-world-manufacturing-superpower-production/
Topics
0:00 Global inequality
1:45 The China exception
3:01 World-systems analysis
4:37 Prebisch-Singer thesis
6:55 Dependency theory & commodity supercycles
8:27 Unequal exchange
11:01 Haiti & Honduras: Wage suppression in the periphery
13:57 New International Economic Order
15:22 China & the Asian Tigers
19:27 The Global South rebels
22:41 South Africa's President Ramaphosa on industrialization
25:13 Indonesia's economic development
26:34 (Neo)colonialism in Indonesia
29:29 Indonesia bans raw mineral exports
32:18 Protectionism (for the West, not for the rest)
37:38 China helps Indonesia industrialize
42:04 The myth of Chinese "imperialism"
43:04 India's economy vs. Indonesia's
46:41 China's South-South integration
49:33 Outro
|| Geopolitical Economy Report ||
Please consider supporting us at https://GeopoliticalEconomy.com/Support
Patreon: https://Patreon.com/GeopoliticalEconomy
Podcast: https://Soundcloud.com/GeopoliticalEconomy
Newsletter: https://GeopoliticalEconomy.Substack.com
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US can't compete with China's technology, so it wages economic war
Why is the United States waging economic war on China? Ben Norton discusses how China became the world's industrial superpower and a leader in important technologies, why the US is unable to compete, and the clash between Western neoliberal capitalism and Chinese socialism.
Check out our related video:
China is now the 'world's sole manufacturing superpower'. How did it develop so fast?: https://geopoliticaleconomy.com/2024/01/31/china-world-manufacturing-superpower-production/
Topics
0:00 Bipartisan US economic war
2:19 China is world's #1 manufacturer
4:28 Clash of systems
6:29 Elon Musk laughed at Chinese competitors. Now they're beating him.
9:27 TikTok: Why US wants to ban it
10:56 EU threatens tariffs on China
11:20 West's hypocrisy on climate change
12:25 Solar panels: China installs more than rest of world combined
13:46 Clean energy is top driver of China's growth
14:56 China leads world in green transition
16:57 Neoliberal West can't outcompete China's state-led industrial development
18:27 The death of "free market" dogma
20:31 The myth of "free trade"
23:23 US opposes industrial policy when China does it
29:10 "Washington Consensus" failed, Washington admits
38:01 Ronald Reagan's trade war on Japan
43:25 Outro
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‘Western dominance has ended’, EU foreign-policy chief admits, warning of ‘West against the Rest’
The European Union’s top diplomat, Josep Borrell, admitted that the “era of Western dominance has indeed definitively ended”. He warned that the EU must not divide the world into “the West against the Rest”, as “many in the ‘Global South’ accuse us of ‘double standards’”. Ben Norton analyzes the historic shift.
Sources and more information here: https://geopoliticaleconomy.com/2024/02/26/western-dominance-ended-eu-josep-borrell/
Related videos:
- EU confesses 'our prosperity was based on China & Russia': cheap energy, low-paid labor, big market: https://geopoliticaleconomy.com/2022/10/18/eu-prosperity-china-russia-energy-market/
- West votes against democracy, human rights, cultural equality at UN; promotes mercenaries, sanctions: https://geopoliticaleconomy.com/2023/11/26/west-vote-democracy-human-rights-un-sanctions/
Topics
0:00 "Western dominance has ended"
2:41 Europe's "prosperity was based on China and Russia"
4:05 West vs. the Rest
5:07 Ukraine and NATO
7:05 Europe becoming US "vassal"
8:06 West votes against rest of world at UN
12:44 US-led imperialist system
18:58 Terms "Global South" and "West"
24:54 Outro
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Media's Israel bias exposed by US soldier who set himself on fire to protest Gaza genocide
The Western media showed its extreme bias by whitewashing the fatal protest of US airman Aaron Bushnell, who set himself on fire outside Israel's embassy in Washington, DC while shouting "Free Palestine!" and "I will no longer be complicit in genocide!". Ben Norton contrasts the press' coverage of Russia, showing clear double standards.
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Latin America charges Israel with genocide, compares it to Nazi Germany
Many Latin American countries have accused Israel of genocide against the Palestinian people, even comparing it to Nazi Germany. Ben Norton explains the responses of Argentina, Bolivia, Brazil, Chile, Colombia, Cuba, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Peru, and Venezuela.
Topics
0:00 Intro
0:54 Latin American countries that support Palestine
1:47 ICJ or ICC? Differences
2:41 ICJ says Israel can be investigated for genocide
3:32 Israel's war on Gaza is most destructive in modern history
4:20 Brazil's President Lula compares Israel to Nazi Germany
6:01 Israeli media compares Netanyahu's government to Nazis
8:18 Colombia's President Gustavo Petro accuses Israel of genocide
9:43 Bolivia's ex-President Evo Morales accuses Israel of genocide
11:53 Venezuela compares Israel to Nazi Germany
12:53 Nicaragua's President Ortega blasts West's "horrendous crimes"
13:41 Nicaragua joins South Africa's ICJ case
15:48 Cuba accuses Israel of genocide
16:25 Bolivia breaks diplomatic ties with Israel
16:43 Belize breaks diplomatic ties with Israel
16:53 Honduras recalls its ambassador in Israel
17:04 Latin America's right-wing governments support Israel
18:26 El Salvador's Nayib Bukele supports Israel
19:08 Argentina's Javier Milei supports Israel
20:06 Latin American left vs right
20:58 Latin America's anti-imperialist leadership
23:04 Outro
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West's new cold war on Russia & China crushes EU's economic heart: German industry
NATO's new cold war on Russia and China is destroying Germany's industrial base, devastating Europe's economy, and destabilizing its politics, fueling the rise of the far-right, as neoliberal austerity policies exacerbate the ongoing recession. Ben Norton analyzes the evidence.
Cited videos:
- EU confesses ‘our prosperity was based on China & Russia’: cheap energy, low-paid labor, big market: https://youtube.com/watch?v=ajIRkk1FOkM
- German lawmaker denounces Ukraine 'proxy war' and US 'terror attack' on Nord Stream pipelines: https://youtube.com/watch?v=NYn0ODIL0Qg
- How corporate profits are driving inflation, not workers' wages: https://youtube.com/watch?v=qdZbq1iw-ho
Topics
0:00 Crisis in EU's economic heart: Germany
5:04 EU admits "our prosperity was based on China and Russia"
6:51 German industry
8:09 US-NATO "vassalization" of Europe
10:09 Cheap Russian gas or expensive US LNG?
13:37 Corporations and speculators profit
17:08 Greedflation
19:08 Neoliberal austerity is back
21:24 US Inflation Reduction Act (IRA)
23:52 Economic war on China backfires
27:01 Rise of far-right
29:46 Germany's leftist anti-war alternative
33:01 Environmentalist policies are not the problem
34:56 Outro
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Putin debunks Tucker Carlson's warmongering anti-China propaganda, mocks his CIA ties
Russian President Vladimir Putin condemned the "boogeyman" anti-China propaganda that Trump ally Tucker Carlson spewed in his interview in Moscow, while also mocking Tucker for applying to join the CIA. Ben Norton documents the former Fox News host's long history of pushing for war on China.
Sources and more information here: https://geopoliticaleconomy.com/2024/02/10/putin-tucker-carlson-china-cia
Topics
0:00 Tucker's warmongering against China
3:05 Putin debunks Tucker's anti-China propaganda
5:08 Republicans want to divide Russia from China
13:44 Tucker Carlson's CIA links
15:47 Putin mocks Tucker for his CIA application
16:19 Tucker's racist neoconservative past
17:59 Tucker's neocolonial views on Latin America
20:09 Democrats vs GOP: Bipartisan imperialism
23:04 US failure to divide Russia from China
23:40 Outro
|| Geopolitical Economy Report ||
Please consider supporting us at https://GeopoliticalEconomy.com/Support
Podcast: https://Soundcloud.com/GeopoliticalEconomy
Newsletter: https://GeopoliticalEconomy.Substack.com
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Exposed: US DEA used criminals to spy on, destabilize Venezuela, Mexico, Bolivia
Reports reveal that the US Drug Enforcement Administration (DEA) used known criminals to spy on and destabilize the left-wing governments in Venezuela, Mexico, and Bolivia. Ben Norton reviews the scandalous evidence detailing Washington's corrupt meddling in Latin America.
Links:
- Trump boasts he wanted to take Venezuela’s oil after overthrowing its government: https://geopoliticaleconomy.com/2023/06/12/trump-venezuela-oil-coup
- CIA backed failed 2020 invasion of Venezuela, top coup-plotter says: https://geopoliticaleconomy.com/2022/02/02/cia-invasion-venezuela-cliver-alcala
Topics:
0:00 Intro
1:01 Venezuela
9:03 US coup attempt & invasion
14:50 Bolivia
21:02 Mexico
31:28 CIA & drug trafficking
33:02 Outro
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Biden was wrong: Israel admits Gaza health ministry death toll is accurate
US President Joe Biden and Western media pundits echoed Israel's disinformation casting doubt on the Palestinian health ministry death toll in Gaza, but Israeli intelligence officials have admitted it is accurate. Ben Norton looks at the evidence.
VIDEO: https://youtube.com/watch?v=Dbj1GNT3Mjk
Despite Biden’s claims, Gaza health ministry death toll is accurate, scientific studies show: https://geopoliticaleconomy.com/2023/12/19/gaza-health-ministry-death-toll-accurate-study
ICJ’s Israel genocide decision: Historic victory for Palestinians and Global South: https://geopoliticaleconomy.com/2024/01/27/icj-israel-genocide-palestinians
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China is now the 'world's sole manufacturing superpower'. How did it develop so fast?
"China is now the world’s sole manufacturing superpower", a mainstream European think think has acknowledged. Ben Norton explains China's world historic growth, and how the Chinese socialist market economy works.
Sources and more information here: https://geopoliticaleconomy.com/2024/01/31/china-world-manufacturing-superpower-production
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