ALARMING! SCOTT BESSENT SHOWS A FUNDAMENTAL FAILURE TO GRASP THE ECONOMIC FUNDAMENTALS OF CHINA, WITH A BOOMING MIDDLE CLASS, CHINA IS NO LONGER EXPORT ORIENTIATED

CHINA WAS TURNED INTO THE FACTORY OF THE WORLD BY THE WALL STREET PRIVATE BANKERS TO HOLLOW OUT THE USA

BUT THE CCP SWITCHED FROM AN EXPORTER TO A DOMESTIC ORIENTATED ECONOMY IN THE PAST TEN YEARS

THE DISPOSABLE INCOME OF THE MIDDLE CLASS IN CHINA HAS DOUBLED

IT MAY STILL NEEDS SOME EXPORTS AND DOLLARS TO PAY FOR OIL

BUT AS THE BRICS FORM A NEW CURRENCY BLOC WHERE COMMODITIES CAN BE BOUGHT WITHOUT DOLLARS, CHINA WILL NOT NEED EXPORTS TO THE USA

BESSENT SAYS THE US SYSTEM WAS ABOUT TO FAIL

BUT RIGHTLY SAYS THERE IS NO GUARANTEE HIS FLAWED APPROACH IS GOING TO SUCCEED

MORE DETERMINED TO PROTECT WALL ST THAN AMERICA

Wall St  insider Scott Bessent seems all too comfortable with the notion that the tariffs may cause the crash of the US economy but seems to think that this is the price needed to avert a debt death spiral.

Moreover, he has completely failed to grasp why China has overtaken the USA and will continue to do so.

Trump s tariffs will certainly not break the Chinese model or hamper its success.

Falsely claims China s prosperity is driven by slave labour.

That has not been true for more than a decade.

The CCP has made growing the middle class a priorit.

This, to ensure there is a domestic demand for domestic supply.

That is why China will not be too bothered about the loss of the US market from 2025.

There has been a doubling of disposable income in the decade between 2013 and 2022

From media

Per capita expenditure has also almost doubled over the same period of time, growing from RMB 13,220 (approx. US$1,879) in 2013 to RMB 24,538 (approx. US$3,488) in 2022.

China is home to the largest middle-class cohort in the world. As the country underwent a period of rapid economic transformation, its middle class emerged as a key driver of its economic development. The rise of the middle class in China not only signifies a significant societal shift but also has profound implications for the country’s domestic consumption patterns, social structure, and global economic relations.

https://www.china-briefing.com/news/china-middle-class-growth-policy-and-consumption/

Bessent is not giving an honest analysis on China and the US government s debt crisis rooted in the private Federal Reserve and until this changes, the USA has a huge drag on its economy.

He notes China s  subsidization of industry. 

But he fails to note the subsidization of industry by printing sound money and cash for free is a standard practise for successful economies and the historical norm,

The USA will never be able to compete with China when its economic system is fundamentally flawed but which enriches the private bankers and Wall St.

Fails to note the US government used a similar system of monetary funding before the Federal Resevere was privatized in 1913.