From a Chinese immigrant to the US, Great honest analysis of China. Thank You.

I rarely comment on KZfaq video. But as a Chinese born Chinese who still work and live in China, I find myself with a profound feeling and resonance with what he talked in the video. Especially the last historical part. Most westerners thought Chinese people support their government because they are 'brain-washed' by the government, but it is not true. We support the government, because it worked so well and did so good, based on what we achieved by key 'benchmarks'. China helped ten, a hundred millions, or even a billion of people or so, out of POVERTY. Please again, it is not help a million of people, it is a billion of people. I myself is a founder of a high-tech startup, and when you think the country like running a company to achieve certain goals. No matter what kind of capitalism or socialism is, we want the result, we want to achieve what we want to, to beat the KPI. China did a more than excellent work in doing so. That is why Chinese people don't always complain about this, even we certainly know a lot of things lacking, like democracies. It just like: an app achieved 10 millions of daily active users from nothing, but with bad user experience or slow speed - the last part doesn't that matter compared to the first one. Chinese people are proud, historically, but Chinese people are also humbled. Imagine, when President Xi Jing-ping, talked the story that the presententor of the video said in the last part, via a broadcasting service nationwide, just like Churchill did during the WWII. Chinese people will be united, as we all know the humuliating and tough history we have. And now China has the strength to say no to other bullies. President Trump doesn't understand it, as other US policy makers. So, in my point of view, strategically, they made it wrong, and the wrong approach will let them to pay it off by themselves. Better understanding the fundamentals and the history is a key to talk, to negotiate and cooperate. Thanks again, and I sincerely wish you can produce more videos, reporting the facts and the truths, and let more people to make rational decisions. 谢谢。

You won't see this kind of analysis anywhere else. Thankyou Professor

China's success has proved Western democracy is not the only way. Developing country have other options

The video summarizes pretty well what the Chinese have done great: 1) a leading state-owned economy with vibrate private sector (together with a controlled and gradual economic reform to avoid mistakes from USSR) and 2) opening up to the world with a deal that trades technology and capital with labor and consumer market. I think the root cause of all these is that Chinese is a pragmatic people, they seek truth from facts and care less about what ideology/model is absolutely right. As the former leader Deng Xiaoping said, it doesn't matter if it's a black or white cat, as long as it catches mice it's a good cat.

Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues.. well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60. I need suggestions on what investments to make..

Once again thanks to Professor Wolff. 🧐

Actually, in 1776, when Adam Smith wrote "The Wealth of Nations," China was the worlds largest economy.

great! next time when people ask me why a Tibetan living in China like me supporting the CCP I will send them the link of this video.

The Chinese model was introduced in Africa and has been producing great fruits. The old saying: 'Africa, a continent without hope', no one remembers anymore, given the incredible development that is currently taking place, thanks for China.

Wow, this is the best and most informative 30 minutes on China and Chinese mindset and strategy that I've ever heard. Even better than Prof Martin Jacques, who I love and knows his stuff also.

Dr. Wolff can you please do one more episode of china with much more detailed analysis of party's role and the poverty elimination plans, five year plans etc. Thanks.

I love Professor Wolfe. He works tirelessly to try make the lives of his fellow man better. And he's been doing it for decades.

The very few people that understand China online. Keep up the good work.

Thank you Dr. Wolff for helping make our world a better place. It's an honor to be able to read your thoughts, which you so readily disseminate, and learn from your understanding of the world.

so Chinese Communism = a politically controlled capitalist system western capitalism = a capital controlled political system /a simplistic wild guess

Many thanks, as a Chinese , what we have done is “ have been determined not to repeat the Soviet Union’s mistakes “ . What will we do is to avoid the United States’s mistakes which already happened and will happen. A system which better serve their people is the best.

Thank you Dr. Wolff! I am learning so much and sharing with my friends as well. What a privilege to hear your lectures. Thanks again!!

You are a gem Richard Wolf, broadening outlooks for people is so important , you are doing a great service to those that try to understand.

What an excellent program! Thank you for such a clear and concise economic lesson.

I like the intro. Good job! I loved hearing about the USSR and China without the BS about how evil they are reminds me of my collage classes.

Thank you for your detail understanding on China. I learned a lot from you.

Amazing and impartial, as always Prof. Dr. Wolff. Your insights as guest on RT are always profound. Thanks again.

Thank you so much for your unbiased, educational insight sir!

I don’t get tired of admiring and learning from this incredibly knowledgeable and bright man. Thank you!

@Professor Wolff, Excellent and brilliant presentation. Thanks. (Only wish those in power/charge could appreciate all that's covered in this speech/talk/enlightening by Prof. Wolff.)

Way to go, Richard. This is really good. Thanks for your hard work. I will share this widely. You should be so much better known. Best wishes always!

Exactly what I was talking about the whole time. China did not steal the technology the companies traded themselves for the privilege of having cheap labor and excess to huge market

Very intelligent analysis! Respect for Prof. Richard Wollf!

It’s would be amazing if Richard Wolf was part of Bernie’s Cabinet.

Thank you so much for giving us such a wonderful information we could hardly get anywhere else, it was amazing and eye and ear opening.

You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires.....

Finally, someone from the west that knows a thing or two about china. I m a Chinese immigrant.

lived in China. I believe they've already passed us economically. In terms of purchasing power they already have. Our "GDP" is larger, but this number is largely tied to the cost of goods, which we as Americans massively overpay for. In China, rent, food, consumer goods, transportation, are still quite affordable. But the massive amount of investment in infrastructure, modern buildings, transportation (roads, subways/metros, high speed trains), housing (modern apartments) is unbelievable, and if you look at our crumbling cities, homeless encampments, military spending and general economic corruption, there is no comparison

Thanks, Professor Wolff, for serving up yet another economic MEAT SANDWICH for the thoughtful citizen to consider. The few of us that never fell for the media brainwashing LOVE YOU!

Thank you, thank you, thank you!! So illuminating!! Brings tears to my eyes to think that I’ve lived this long without this clearly articulated information. What a boon to have stumbled upon this channel.

Telling the truth is the beginning of the solution.

Thank you, sir. Rare to hear a balanced take on these things. Depressingly rare.

Thank you, Richard, for this lecture which I watched with great interest. Your understanding of China (civilisation, history, people and current ruling government) is very impressive for this humble Chinese viewer. In addition, you shown an incredible insight into America and Russia political systems, all of which makes this video one of the best I have seen so far. Look forward to more of your analyses on Democracy @ Work.

This analysis is quite rational with in-depth analysis. Almost 100% agreed with the key ideas and messages.

Professor Wolf - Thank you for your passionate and logically presented background to how China has reached where it has. As always, you make the rear-view mirror of history point forwards to our present and future with clarity, for which I am grateful.

Congratulations! 102K subscribed! Well done and good insight!

Another great update. Thank you DaW.

An excellent and unbiased overview which Trump and the current law makers of the US should learn and be enlightened on the reality of events that is the true way in making a nation great. It is certainly not the "Make America Great" as per the doctrine of Trump.

I like your program, Richard. You explained concepts in an easy way.

Thank you Dr. Wolff for helping us grow up and mind you. I'm 54. 😊

Thank you! Your presentation is always concise and unbiased. And talk smoothly.

Thank you for the information. I had a general sense that this was the case, but you have filled in the blanks and confirmed what I basically always knew. 👍

But but but... Venezuela... Funny how their idea of "socialism" is a country with over 3/4 of its economy being private business. Which is in-line with most other European countries. Its also funny how their criticisms always leave out the artificial deflation of oil prices orchestrated by the Saudis and Americans to try crush the Iranian and Russian economies. Or how about the economic warfare via sanctions which have been described as siege warfare, or the coup and assassination attempts. Its like breaking the arms and legs of a person, then complaining how they cannot work to support themselves. I wonder if they can see the irony in that.

It is a great episode. Thank you Doc!

Professor Wolff truly understand Chinese history, current economic system, and its people's mind. What he shared here are well aligned with what I have learned from my education and the feeling as a Chinese when I was in my country. I was not a fan of the CCP while I was in China, but my mind has gradually changed last few years here in the US, since I have seen what the Chinese government has done to the Chinese, as well as the government of the United States to its people.

You won't see this kind of analysis anywhere else. Thank you Professor ！

thank you for your historical review

Fair, and with historical depth. I hope your view angle will be more widely understood in order to make our world a better place.

Where has this been my all my life?

Thank you professor Wolff. I enjoy all the speeches I have listened so far. I will search for your previous speech about the USSR.

Amazing speech! Thank-you!

Just another clue for you: 1980s, leader Deng Xiao Ping, “Chief architect of the reforming and opening-up”, planed to build China into a “moderately developed country” in 70 years. 40 years passed, the plan is still going well. What kind of parties can make a plan and work on it insistently for 7 decades? Not the kind can rule only 4 years.

This is the best summary I have ever listened and watched in the western world. I can’t believe Prof Wolff did it in just 30 minutes! Amazingly, the content presented is the real facts, real history, real conditions happened in China. That’s my best 30 min learning China in English! Thank you so much, Prof. Wolff!

A really good, informative and illuminating lecture! Simple and straightforward explanations in a simple and straightforward language! Congratulations!

So glad I found this channel

Thank you, Prof. Wolff, for this educational video. It is the best video I've seen so far concerning the rise of China.

Thank you for another fantastic program today Mr. Wolff!!!

wow， this by far the most thorough and comprehensive analysis of the subject I've seen

Thanks professor Richard Wolff.you are one of rare westerner telling the true story.I tally agree with you.let 's the time will tell.so the main stream of western media they will realise that.on good thing they can run state own enterprises suscessfully.this is my respect.

I'm madder than hell about being forced to be a part of the inherently corrupt system of capitalism, especially when I can't afford a GD thing in it . . . even though I'm a good person.

Prof. Wolfe is one of the best educators on you tube. Thank you for sharing your brilliant historian education you share with your viewers.

The first half of the professor's lecture is content of the economics in politics class from high school to college，and the second half is the content of the history content from junior high school to college. The content is the same, but the depth is different in different period class.Thanks for sharing the truth！

"We'd all be better off if we were able to talk about all of that without resorting to childish invocations of how we're good and they're bad. You really ought to get over that at some point at a certain point in your life or else something's wrong, but we're not gonna go there" LOLOLOL

I thank you for this channel i learned so much from you

This was fascinating. I remember that several decades ago, we still talked about massive hunger in China. No one has mentioned hunger since: It doesn't exist, and that, all by itself, is a wonder to behold. I did not know how the transition from a purely Socialist model to a mixed economy took place, I now understand it and am grateful to Richard Wolff for his clear, factual, and informative explanations.

got my huge thumbs up already...just finished the introduction

Dr. Wolff, you have a good historical perspective! This helps to understand how China moves in today's world!

I love the way professor Explains Even complecated Concepts..... Wish I had a live lecture from you Sir...... 😍 Democracy at Work..... Thank you.....😍😍😍😍😍😍

Wonderful analysis and information,I have been following you almost since a decade. Thank you bery much

Thanks so much for the sanity of your presentation. I only wish everyone I knew who are of the uneducated and uninformed (which includes my immediate family ) could sit down and view this most informative talk. Only when we share the information of other views given by such as this will we be able as a society to evolve. Thank you so much for your clear explanations to the uninformed among us.

A great presentation , I have visited China on 6 occasions , I found the Chinese happy and productive

Great video. I seldom see such a rational western video about China. Most of the videos are kinda propaganda against China.

Hi Professor Wolff, I always enjoy your talks and have been your follower for a few years. I enjoyed your update on China's Economic Development and Strategy, and I want to comment on the subject based on some of my personal background and experience of China. I was born and raised in Hong Kong during 1950s and 60s when China hit bottom both economically and culturally (big leap forward, and cultural-revolution). I was fortunate to be able to come and be educated in the states and lived here for 12 years before going back to Asia to involve in global trading for 30 years before retiring back to US. In my last 10 years in Asia, I worked for a Carolina-based US manufacturing company as it's country manager, 7 of which was in China working out of Shanghai and Qingdao--1910 to t0 1917- the period when China experienced the most enormous economic growth, whereas the manufacturing industries in US was in rapid decline, when globalization of business was in full swing, The matter of fact is globalization of businesses and industries benefit all countries involved, the differences are who within those countries benefiting from it, In the case of China, where the gov. had decided at its onset that it would use globalized manufacturing as its explicit national goal to enrich the country and its people, lifting them from from abject poverty as its ultimate objective. As a result, China has managed to redistribute the wealth it made from opening its economic to the west (especially USA) to benefit the entire nation. As an example: 1. During the period when I was there (and many years before from record). the company I worked for had given 8 to 12% of annually salary-raise to all its employees in China. This is not a government regulation but a simple fact of life-a company cannot hire good workers if thy do not give those compensation. What was the average salary raise in that period in US., we were lucky to get 2 to 3 % a years. 2. As a communist-urn-socialistic country, China promised everyone of it citizen would be taken care for life- it was a promise note more than anything , as there was no monetary reserve kept for such purpose. As a result, when China transforms its economy to private enterprise structure, it has to prepare for such financial social commitment and obligation! To this end, any private company operating in China with a working staff has to pay a huge social insurance premiums (equivalent to social security in US). The US company I worked for in Shanghai had contributed 42% take-home social insurance to our employee's account, while the employees contributed 18% (The social insurance is managed by the provinces instead of the central gov., as a result, most migrant workers from other provinces may not want to contribute as they would not benefit from the social insurances when they stop working in those provinces the y are working for now.. And, there are many classifications of cities, counties and townships within an provinces, and the costs of social insurances are different. But my guess is Shanghai and Beiging, Zinzheng and Gaungzhou command the highest premiums as they are the biggest cities.) 3. Chinese government also trickles down huge amount of earnings it has made from exporting manufacturing goods in the form and shape of shape of infrastructure, especially in high-speed railways, highways and even city roads. The transportation infrastructures so created have connected cities of various sizes in so many ways and speed so far unimaginable- which may account for the neck-breaking pace of China's economic growth in the last 2 decades. On the other hand, what have our country used the monies we have made in the last 3 decades of globalizing our businesses and industries for public goods and benefits. The answer is "nothing". Our political and economic systems simply do not allow any meaningful redistribution of wealth we have made by globalization, but accumulating them to the benefits of a handful who use them to leverage for more wealth and power-resulting in hundreds and thousands more billionaires, or modern plutocrats as you may. Just imagine, if our political system would allow us to tax those millionaires and billionaires at the same average rate as our common fellow citizen, and use the resulting revenues to educate a new generation of US workforce, and to rebuild our new infrastructure in the face of new and bigger challenges such as climate change and increasing homelessness etc. our country would be a much better place! oligar1. During the period when I was there (and many years before from record). the company I worked for had given 8 to 12% of annually salary-raise to all its employees in China. This is not a government regulation but a simple fact of life-a company cannot hire good workers if thy do not give those compensation. What was the average salary raise in that period in US., we were lucky to get 2 to 3 % a years. 2. As a communist-urn-socialistic country, China promised everyone of it citizen would be taken care for life.

Very informative, thank you professor!

This was very much appreciated Dr. Wolff. Filled in some details about what I had only heard about in general. One thing that has really impressed me about the Chinese is that they have been willing to admit it when they make mistakes and correct themselves. For example in regards to the Environmental Crises in their country. Most Americans in marked contrast are the exact opposite. I think this is a major reason why China is destined to be the worlds dominant nation while the United States is destined for eventual 3rd world status.

very objective and unbiased inforrmation you have presented in thi video. People need to see the real thing to be able yo make correct judgement, this is not the case when it come to China. You are absolutely helping !

Great CLEAR layman's term & well explained, sometime, I get confused by other explanation with BIAS slant.

"Real wages today is actually slightly lower than it was in 1973." Yes, after talking to some retired people I believe this is a very accurate statement.

Professor Wolff, the Civil War did not start in 1945. The Communists were fighting against Chang Kai Cheks' Kuomintang since the early 1930, and the Red Army really had to fight a Two Front War, against the Japanese and the Kuomintang Nationalists. the American General Stillwell reported that the Communists were a better partner in the Fight against Japan, and that in many cases the Nationalists were teaming up with the Japanese against the Communists (Stillwell was go through some hard times during the McCarthey Era. ). But, Professor Wolff, you must have heard about the LONG MARCH. It is sort of the Foundational Story of Chinese Communism. It seems that that the Kuomintang surprised them with Night Arrests and Massacres, but that many Communists escaped and did their Long March to the West to reach safety and to organize their retaliation and revenge. I can't believe you don't know about The Long March. Maybe between writing books you can take some time to read one.

I dream of such profesor for my granddaughter .

There are a few things that may be interesting 1) Soviet industrialization from 1920's depends much from Germany's help . Germany was isolated by the West too. 2) Initially ,Mao wanted to get close to US , but was rejected by US. Thus Mao turned to Soviet Union 3) State owned enterprise was the in thing in the world in 1950's and 1960's. China state owned enterprises saved China from total chaos in the 1950's to 70's.

Fantastic overview Prof. Wolff. Thanks for getting the knowledge out!

Can you talk about the Green New Deal proposals in US and the EU?

A nice summary. I think it's also really important to get away from capitalism vs socialism. Capitalism or markets from the view of the CCP does not run contrary to socialism. Capitalism is a historical economic stage described by Marx. Just as feudalism is the birth giver of capitalism the Chinese Communist Party believe capitalism is the mid wife of socialism. Socialism then for the Chinese is something to be built (using capital). However, they believe future historical epochs can only be successful if they produce a means of production and technological base far more advanced than capitalism.

Thank you for another fair and informative webcast!

2 other key elements: 1. Education 2. Hard working ppl

John Pilger's recent documentary, "The Coming War on China" has a section where the economy of China is quite succinctly and accurately described, by a Chinese source. He basically says that China, under the NEP, has created a consumer market on par with that in the United States, and this has all been a result of China's move to invite in foreign capital (after their meeting with Milton Friedman in 1987) but they kept the influx of capital rigidly controlled ... and as the speaker says - the only difference between the US and China lies in the fact that in China, there is 1 monolithic party which can not be bought or controlled by Capital. The CCP makes all of the economic decisions in China and Capital can not buy it off, whereas, in the United States, we have 2 dominant bourgeois parties that are completely controlled by Capital.

Great subject...you are always welcome in my wellness . It's too bad that most Americans don't know anything about the true America.

BTW, I will listen through your library of all your speeches gradually over time.

Love to watch your channel, Prof. Wolff.

Improvement of quality of life is good. But all the countries of the world must move away from the consumption model and practice birth control.

When making a statistical argument, the word "average" should always be qualified: When Bill Gates walks into a crowded room, the median ("average") income of the people in the room will not change significantly, but the mean ("average") income will increase substantially...

Amazing resource, thank you Dr. Wolff!

Thanks again!