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Fastepo delves into China’s motivations and the challenges it has encountered within the World Trade Organization (WTO) in this video. Additionally, we analyze China’s strategic maneuvers aimed at establishing alternative frameworks that may potentially diminish the sway of the WTO.
Sean Foo highlights the concerning trend of continuous deficit spending in the US, which has resulted in a downward revision of the GDP to 1.3 percent in the first quarter. The implications of this situation are worrisome, as excessive government expenditure is pushing the American economy towards a potential collapse. Moreover, the repercussions are evident in the struggling US industries, indicating the emergence of a brewing banking crisis. It is crucial to be aware of these developments and their potential impact.
The Economic Ninja discusses the potential for Iraq to attract a significant purchaser for the IQD following China’s recent major agreement for Iraqi Natural Gas. This development is expected to draw interest from investors in the #iraqidinar, ultimately bolstering the currency’s value.
Bob Elliott, Co-Founder, CEO, and CIO of Unlimited Funds, returns as a guest on Palisades Gold Radio with Tom Bodrovics. In this episode, Bob sheds light on the art of distinguishing between skill and luck when evaluating investment outcomes. The conversation also delves into the prevailing inflationary conditions in developed nations such as Europe, the UK, and the US. Despite recent disruptions in supply chains leading to increased price levels, wages have managed to keep pace or even surpass them, resulting in inflation rates that surpass the targets set by central banks.
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Fastepo
Jun 4, 2024
China has not formally proposed an organization to replace the World Trade Organization (WTO), but it has undertaken several significant initiatives and formed strategic alliances that effectively serve as alternatives or complements to the current global trade system.
One of the most notable initiatives is the Belt and Road Initiative (BRI), launched in 2013. The BRI aims to enhance global trade through infrastructure development and increased connectivity across Asia, Europe, and Africa.
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In the financial sector, China developed the Cross-Border Interbank Payment System (CIPS) to facilitate international transactions using the Chinese yuan. This system reduces reliance on the US-dominated SWIFT network and promotes yuan internationalization, with over 1,280 financial institutions across 103 countries participating in CIPS.
Additionally, China is an active member of BRICS, a multilateral forum that promotes cooperation among major emerging economies. BRICS has established the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) to finance infrastructure and provide financial support, offering alternatives to the World Bank and IMF.
These efforts demonstrate China’s strategy to reshape global trade and economic relations, positioning itself as a central player and potentially reducing the dominance of Western-led institutions like the WTO. While not a formal replacement, these initiatives reflect China’s push for a more China-centric global trade network.
In this video, we explore China’s motivations and the disputes it has faced within the World Trade Organization (WTO). We also examine China’s strategic moves towards creating alternative frameworks that could potentially reduce the influence of the WTO.
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Sean Foo
Jun 4, 2024
Despite endless deficit spending, US GDP has been revised even lower hitting 1.3 percent in Q1. The alarm bells are going off as wasteful government spending is pushing the US economy towards a collapse. Because of this, a new banking crisis is brewing and US industries have fallen hard. Here’s what you must know.
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The Economic Ninja
Streamed live Jun 4, 2024
Iraq may see a big buyer for the #iqd now that China has forged a big deal for Iraqi Natural Gas. This will bring in buyers for the #iraqidinar and will strengthen the value of the #dinar.
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Palisades Gold Radio
Jun 4, 2024
Tom Bodrovics welcomes back Bob Elliott, Co-Founder, CEO, and CIO of Unlimited Funds, who shares his insights on how to evaluate skills from luck in investment outcomes. The discussion also touched upon the current state of inflation in developed countries like Europe, the UK, and the US. Despite recent supply shocks causing higher price growth, wages have matched or surpassed it, resulting in elevated rates exceeding central bank targets.
Elliott also addressed the concerns of central bankers regarding debt and income dynamics, mentioning the risks of negative reinforcing cycles and comparing credit-driven economic expansions to sustainable income-driven ones. The speakers discussed the relationship between government deficits and economic growth, debating whether high levels lead to significant stimulus or a large debt burden.
Regarding labor markets, Bob addressed the rising costs of inflation and the impact on reshoring production in the US. The speakers touched upon de-globalization, parallel supply chains, and shipping costs as causes for price increases and disruptions. The Fed’s current monetary policy stance was discussed, with potential future actions debated due to low unemployment and while inflation is still above target.
Bob questioned the significance of specific labor market numbers and he also touched upon why the US economy avoided a recession despite predictions. In this income-driven environment, Bob discussed the shift from growth to value stocks and the impact on investable assets in sectors with earnings and market consolidation. The supercycle in resource markets was also discussed highlighting investment lags behind demand and potential higher commodity prices contributing to inflation.
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