U.S. economic hegemony facing REAL THREAT | Talk with Yanis Varoufakis

#europe #us
The real reason for the U.S. 'new cold war' on China wasn't disputes over the Taiwan Straits or any commonly seen Western mainstream talking points, but because China's development is posing a real threat to the U.S. dollar domination and economic hegemony in the world.
I sat down with economist, and former finance minister of Greece, Yanis Varoufakis, to find out more.

Timestamp:
00:00 - 01:28 Highlights of this episode
01:29 - 08:09 The real reason for U.S.'s new cold war on China
08:10 - 10:46 How did China make it?
10:47 - 16:55 Why the U.S. can dictate Europe's foreign policy?
16:56 - 23:50 Can Europe be independent at last?

[desmondho]

Here is why some of the reasons West afraid of China?

1) Manufacturing superiority over US.
2) Belt and Road Initiative (BRI) = WEST failed BBBW.
3) Better Infrastructure > US collapsing infrastructure & deteriorating public facilities.
4) Beidou = GPS.
5) Heavenly space station = International space station.
6) China Cheap Electric Vehicle (EV) > US internal combustion engine & Expensive EV.
7) Huawei 5G & coming 6G > US 4G & 4.5G😅
8) China lifted 850 millions people out of poverty > US incredible surge in homeless & surging middle class poverty.
9) China strict Drugs and Guns Rules. > US drugs addiction and Guns violence mass shooting. Safety problems.
10) China strict anti corruption laws > US disguise political corruptions by lobbyist as political donations.

[weiyeongtan]

US was not stupid to let China join UN and WTO, US wanted China to contain Russia and US was greedy in globalisation of China relatively cheap labour and its huge consumer market. However, China played the game to its advantage of not creating enemies and prop up its productivity strategically from lower value products to higher value ones.

[rafaelmichael]

Never expected this combo!! As a Greek I watch Yanis closely. His character assassination here in Greece is unbelievable.

[maniaouri]

Thank you both for your enlightening explanation as always.

[siewkonsum]

Without the US dollar being the global fiat currency, the American wings of hegemony & dominance are clipped.
Now onwards, dollar is just one of the major currencies, any one or country can choose to use or not to use it for their international trade & commerce!

[marvinfok]

This will why the US can print dollars like no tomorrow! By manipulating interest and the hegemony of the dollar, US can easily export their inflation for printing too much money. But US is starting to lose that never ending money printing ability as BRICS is going to end the dollar's hegemony.

[YCHTT]

I agree with a lot of what Yanis was saying and it has been pretty well known about all those points he made for many years, but I have to disagree with what Yanis said about the reason why US has been conducting cold war & planning for hot/proxy war against China was due to China "challenging the US dollars hegemony." Although China has started local currency swaps with many countries after the 2008 US financial terrorism/crime against the world, but the so-called challenging the US dollars was never the Chinese vision/plan (which it should), it is more like de-risking than de-coupling as a result of US 2008 financial robbery. The main reason for the US imperialists attack on China was simple, US imperialism won't continue it's success against the world if there's other alternative system/method to do things. China has just that from technological, economical, or even social fields to offer the world.

[Manni]

Germany needs to say no to Washington, they European must all learn to stand on their own feet, ditch the Yankees, cancel all leases the yanks have and send their bases home

[LutfaBegum-jfbb]

Malaysia is dominated dollars since 1967. Malaysia rejected dollars

[newworldorder]

Waiting for Putin` s BRICS summit next month on new currency and payment system.

[tmming-hk]

Jiayou...we in Malaysia Chinese all support U ms li jingjing❤❤❤❤❤❤

[SamuelSequeiraGundupade]

This is a very good interview. Great insights about Europe and geopolitics.

[C.Duarte]

The end of the dollar dominance is a MUST.

[schoolofhardknocks]

The USA has had it time, now it faces a greater power in China who has focused on building relationships, increased manufacturing and avoided conflict. any conflicts arising today are from the proxy of the US, however this is coming to an end and China will succeed both financially, economically and industrial. So please USA accept your time is over.

[seeker]

The US and Europe developed divergent strategic challenges, the US found itself with a much stronger economic challenger, China. While the Europeans found themselves being overran with subsaharan and middle eastern immigration, through the nations they along with the US destroyed since the 1990s. The US needed a unified front to confront China, so they created a common enemy in Russia through Ukraine. The Russians wanted to be left alone and failed to cooperate by weakening the unified front refusing to be defeated in Ukraine.

[free_Julian_Assange]

Yannis gets up every morning praying that Europe will one day develop a backbone and stand on its own 2 feet. But I get up every morning and pray that i will still be around to see the demise of the dollar and US hegemony around the world. Will be beautiful to watch. Amazing conversation btw.

[harbinger]

Good morning Li Jingjing and Mr Yanis ♥️🇬🇷🇨🇳🦾😇🌹👋

[iai]

Yanks varoufakis always speaks truth 💯💯💯

[Skye-uw]

I wish this was longer! As someone who isn't in finance, Yanis explains things in a way that I could understand what's happening in global finance and the politics behind it. haha. Thank you Jingjing and Yanis

[yorgosathanasiadis]

Big fan of Yanis and I love China! Great interview