Starting at 26:55 JVL gives a summation of what is coming in the next few months. And it is SCARY
This is great reason why you should not get your economic news from journalists with biology degrees. All they do it quote other morons.
The China trade war is already over and CHINA HAS LOST. This ------- is one of the liberals whose head is going to explode when he hears about the upcoming trade talks (finance.yahoo.com) because they have been programmed to thinking the US and they ignore reality at all costs.
For instance, he quotes that the US retailers are the ones that truly benefit huge from Chinese goods - first, his estimate on the retail sales of Chinese goods is ridiculously high, second, he is mixing imports that are simply tech products ASSEMBLED IN CHINA (like the iPhone) and products that China actually produces totally in house. Another great example is the luxury handbag stories ongoing now - yes, that $600 bag sells for $30,000 - but, THE CHINESE BRAND WILL NEVER BE ABLE TO COPY IT AND SELL AT $30,000.
The iPhone is a great example. $100B (retail value) of Chinese made iPhones sold in the US last year. By 2026, 0% of that will be made in China and over 1M Chinese manufacturing jobs are being cut and moved to India to support it. China can't simply make their own iPhone because they are just the assembler - AND THEY DON'T EVEN OWN THE ASSEMBLY COMPANY - that is owned by the Taiwanese.
All this gloom and doom by the ------- liberals is all based on false assumptions. NOTHING made in China is actually a life or death product for Americans. However, the Chinese are TOTALLY DEPENDENT on the US or their already failing manufacturing sector falls off a clip and their people starve due to lack of food and energy. China already told you this by exempting over 25% of US imports from their reciprocal tariffs.
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