Press Coverage by Firstpost
Written by Michael Thervil
There's a lot to be said about the U.S. Treasury Secretary Janet Yellen visited Beijing China to essentially act as a financial lobbyist for the U.S. Government on the issue of U.S. job security and that of the Collective West in general. Currently it is unknown what areas of job security were discussed behind the closed doors of the meeting but the one thing that we do know is that this was not a meeting of the minds in which the goal helps the average U.S. citizen. Instead, this meeting can be linked to Janet Yellen begging for China not to crush the U.S. economy and the combined economies of the Collective West.
During the course of the Press Conference in Beijing, China, she repeatedly talked about how China has been engaging in unfair competition. But if you think about it, that’s the fault of the U.S. Government. What we mean by this is that the U.S. via former President Bill Clinton allowed most of the manufacturing jobs to move from the U.S. to China because it allowed for things to be manufactured cheaply (damn near slave labor by U.S. standards). When this happened it turned the U.S. into a service sector economy, and part of the deal with China was that they had to have certain rights for the items they were making for America. Hence, today we have what's called a “LEGO Economy” in which we hardly manufacture anything (except weapons) but “assemble” everything here.
Secondly, Janet Yellen accused China of strategically flooding various markets with cheap goods and products which places the U.S. and the Collective West at a disadvantage because they can’t compete with China. In short, Janet Yellen is saying that the Chinese aren’t playing fair when it comes to putting goods and products on the global market. To make matters worth, the United States, Australia, and the United Kingdom formed “AUKUS” back in 202 which is a trilateral security alliance, whose sole purpose is to control and provide security in order to “deter and defend against rapidly evolving threats to the international order and system there.'' This includes the international trade sector as well.
The word of the day when it comes to Janet Yellen is “over-capacity”. According to the Harvard Business School, “over-capacity” occurs when “a business produces a product or service that exceeds the market’s demand” and people all over the world knows what happens when a business produces products, goods, or services, to the point that it exceeds the consumers demand - it deflates the market economically speaking. Currently inflation in the United States is roughly 3.2% (February) and the new estimated inflation rate in the U.S. may be roughly anywhere between 3.3% - 3.7%. Keep in mind that the new inflation rate numbers won't be available until April 10th. But whether those numbers are out or not, Americans are feeling the adverse consequences of the current rate in forms of “Shrinkflation” and “Dragflation”, layoffs, and businesses such as banks and office real estate going bust.
So, by sending Janet Yellen over to China, the U.S. Government figures maybe she can persuade the Chinese to cut back on production and in doing so it would give the U.S. treasury the opportunity to grapple and hopefully address the woes of the American economy. In short, as we stated in a previous article “China Is Winning”, we stated the following:
“China, also known as the manufacturing hub of the world; has made it harder and harder for any U.S. sanctions to have any effect on its dominance. From raising over 800 million people out of poverty, to being the first to introduce 5G and to now getting close to releasing 6G for the people in its region, to making some of the best quality and affordable EV’s (Electric Vehicles) currently on the planet beating out Tesla by a long shot, there's no question that China is winning.”
By Janet Yellen visiting China for “talks”, which really turned out to be her begging China on the U.S. Government's behalf to level the playing field, the U.S. Government confirmed our position that China is, in fact, winning.
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