Comments by "M gronich" (@mgronich948) on "How Biden plans to checkmate China" video.

  1. All these projects (US, EU and China) are meant to create domestic jobs. Chinese loans are used to hire Chinese companies to build infrastructure. US loans are used to hire US companies to build infrastructure. But US companies will charge much much more to build the same road, rail, power plants, than Chinese companies. This is why China had 2.3Billion worth of contracts outside China while US companies had 27 million dollars, almost a 100:1 ratio. The only way a poor or middel income country would go with a US loan is if there's massive corruption. So this 600B initiative will go nowhere simply because of the super high cost of US companies in building infrastructure. The few countries whose leaders are bribed by the US to take US loans and hire US companies to build infrastructure, will be saddled with loans that can't be repaid. Part of the reason the Chinese can build it so much cheaper than US companies is because of the US/Yuan exchange rate. China and the US agree to artificially devalue the Yuan. This has gone on for decades now. But if the Yuan were fairly valued to the dollar, it woudl create massive inflation in the US. But with the US having weaponized the dollar non-western countries are now furiously working on an alternative currency for world trade without the dollar. Over the next 10 years the shift to using this commodities based currency will slowly remove the artificial difference in the Yuan/dollar exchange rate. But until that happens the $600B G7 global infrastructure plan will go nowhere.
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  2. China's BRI is designed to benefit China and Africa. African countries wouldn't sign on if it didin't benefit Africa. China would not offer the investment if it didn't benefit CHina. The US initiative not designed to benefit anyone. It is to counter china, meaning if both the US and the African country loses money that's ok as long as China doesn't get to make the investment and benefit from that investment. This US policy is totall stupid. If China's economy was 1/10 of the US economy the US can afford to lose money to suppress China, but China is much too big, the US will go broke following this strategy. THe most likely thing to happen is that virtually none of the $600 B will be invested.
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