World Affairs by Chris Kanthan: Recent Episodes
Chris Kanthan
Objective, Nonpartisan and Insightful. Topics include world affairs, geopolitics, economics, health, and social issues.
Endless and needless wars, coups and color revolutions, violation of international laws, hypocritical application of rules and morality, fake democracy and fake prosperity at home… the US is in big trouble. And so is Europe. My article originally published here: https://sputniknews.in/20240122/how-america-is-destroying-itself-and-the-world-order-6289490.html
- Increase wages 2. Reduce cost of living 3. Stop the endless wars 4. Encourage good values
U.S. overplayed its hand, weaponized the dollar, lost the war in Ukraine, and is getting mired in another disastrous Middle East war. The Global South has had enough
Americans are wealthy, healthy, happy and smart. And they just want to spread their happiness to the rest of the world.
Look at INCOME-per-capita. That’s only $38,000 a year. Also, GDP is based on spending and doesn’t reflect real wealth. Now look at China, where people have saved up $18 trillion in bank accounts. Who’s wealthier?
Some in the US are now starting to realize that decoupling from China is not so easy after all. The dream of offshoring or near-shoring has been downgraded to de-risking. Why? Manufacturing is more than just cheap labor and assembly. Let’s explore all the myths and demystify manufacturing in this podcast. Manufacturing underpins economic growth, solid middle class population, and national security.
The US economy is in shambles. Exploding debt, inequality, stagnant wages, dying small towns all over America, homelessness, drug addiction… the problems go on. And then there is dedollarization movement, which threatens the dollar’s relevance. The only way to stop this a huge war or wars, which would cripple Russia and China, and devastate Europe. Then… the US can write off its debt and start new. And once again — like in 1944 and 1974 — the dollar will be the king and the American Century will be extended,
Peter Zeihan is so wrong about everything that this is my longest podcast — 40 minutes long! He’s wrong about deglobalization, the coming collapse of China, reshoring or friend-shoring of manufacturing, the future of US dollar, and definitely his rewriting of the American Empire’s past.
There has been a “pandemic of peace” in the news lately, starting with the historic peace deal between Saudi Arabia and Iran. More surprisingly, it was brokered by China! Then there has been an exponential increase in trade deals that embrace dedollarization — not only Russia and China but also India, ASEAN, Brazil, and African countries. What do all these mean to the US and the global financial system?
To paraphrase Shakespeare, we are living through the best of times and worst of times. We have the potential to create an incredible world, thanks to great advancements in science, technology, trade, global connectivity etc. But we are also on the verge of WW3, thanks to the current war against Russia and the potential war against China. This is terrible news for developing nations, which have a long way to go despite the immense progress made in the last forty years. To achieve its developmental goals, India must avoid the imperialist trap of divide-and-rule. India should embrace strategic autonomy and avoid getting caught in the great power conflict. There’s an Indian saying “vasudeva kudumbakam” which translates to “the world is one family.” That’s a wise concept not only for India but every country.
The geo-economic center of the earth is moving eastward, thanks to Asia, which is now the #1 continent in terms of GDP. China’s miraculous growth in the last four decades has made it the world’s #1 in manufacturing, trade, wealthy middle class population, Fortune 500 firms, patents, scientific publications etc. Countries around the world are looking for ways to adapt to the new multipolar order. BRICS countries are exploring a brand new trade currency to circumvent US dollar. Arab countries are ready to buy oil for Chinese Yuan. Meanwhile, the old imperialists are dreaming of “defeating Russia” or “containing China.” This is futile and dangerous. We need a new ideas for cooperation, trade, development, infrastructure, connectivity and development.
The USA has enjoyed the “exorbitant privilege” of dollar for many decades. As the currency of choice for global trade and foreign exchange reserves, the USD bestowed Americans with wealth and power. Let’s discuss what those powers are, how the US elites abuse them, and how the world is now revolting against this unfair monopoly. A multipolar world is emerging and the death of dollar hegemony will be a key feature of this new world order.
While Indian politicians protect the dairy industry from foreign competition, they have allowed the US to take over India’s e-commerce, 5G, mobile payments, social media etc.
Most people have their favorite talking point regarding China’s success — cheap or slave labor, communist dictatorship, stealing IP, protectionism etc. While the stereotypes have some truth, the true reasons underpinning China’s success are more holistic and sophisticated. Here are 50 reasons, in no particular order of importance. Other developing countries like India must carefully study these reasons.
Bretton Woods I led to gold-backed dollar that reigned as the global trade/reserve currency till 1971. Then it collapsed. The US dollar was revived with Petrodollar — we can call it Bretton Woods II. Now, the primacy of dollar is under threat again, thanks to exploding debt and rise of a multipolar world. The US needs Bretton Woods III to cancel all its debt and start with a clean slate. But Russia and China are in the way
While the conflicts with Russia and China create some decoupling, the overall trend is globalization and some selective “re-globalization.”
The next 20 years are the most crucial for India. With a booming workforce and a young population, India can grow rapidly and become a developed nation. However, the challenges are numerous! India needs meticulous planning and flawless execution.
India-China relations have been terribly strained over the last two years. Anti-China sentiments are high in China. However, in an emerging multipolar world, India needs a pragmatic and strategic foreign policy.
This episode is also available as a blog post: http://worldaffairs.blog/2022/09/04/ukraine-war-russia-survives-eu-dies-china-gains-and-usa-wins-big/
This episode is also available as a blog post: http://worldaffairs.blog/2022/08/11/how-china-succeeded-45-reasons/
China's GDP-per-capita is one-sixth that of the US. And technically China is still a developing nation, although it's supposed to cross the threshold by the end of 2022. However, this metric is very misleading and hides China's power and wealth. Here's why.
This episode is also available as a blog post: http://worldaffairs.blog/2022/08/25/why-chinas-gdp-per-capita-is-misleading/
India is at inflection point. The next 20 years will be the most decisive two decades. If India gets its act together, it can get out of the middle-income trap and reach the escape velocity. However, there needs to be fundamental changes in politics, economics and culture.
This episode is also available as a blog post: http://worldaffairs.blog/2022/08/20/india-has-20-years-to-get-out-of-the-middle-income-trap-heres-how-to-do-it/