After the unipolar moment, Jiang says America shifted manufacturing to China, focused on finance, and thereby set up the 2008 Great Financial Crisis.
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2008
After the unipolar moment, Jiang says America shifted manufacturing to China, focused on finance, and thereby set up the 2008 Great Financial Crisis.
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Key Notes
Jiang argues 2008 did not have to collapse from defaults alone because banks could have rolled defaults forward within an illusion-based money system.
Bank collapses also allow consolidation, as losing banks can be bought cheaply by stronger institutions.
Jiang claims one major consequence of 2008 was that transnational capital encouraged China to print money in order to save the global economy.
After 2008, Jiang says BIS solved global slowdown by shifting economic gravity from America and Europe to China through exchange-rate signaling.
Timestamped Evidence
"...China, and America completely focuses on finance. This leads to the 2008 Great Financial Crisis. All right. Okay. So, let me provide some background..."
"...big Ponzi scheme. But we know for a fact that in 2008, this system collapsed. And for the longest time, what we believed is..."
"Okay? The banks could just choose to roll over the default. Okay? Meaning, okay, you owe me $1,000. Right? For the mortgage. But you..."
"Now, what I do, now I make you default because now I can make a million dollars from Vincent. And that's how it worked,..."
"...talk about I want you to understand is that after the 2008 Great Financial Crisis, this created problems in the global economy. And so,..."
"...money around the world and make money God. Okay. So after 2008 the Bank of National Settlements had a problem in that the global..."
"...mechanism of global trade. And then hey starting around this time 2008 guys it's hard to increase in value. Okay. And so now the..."
"...more things from the world. And this happened in starting around 2008 right? This massive surge in imports and because all the commodities were..."
"...Matt Taib's for the longest time. Me too. Starting with the 2008, 2008 great financial crisis. He did a major reporting in Rolling Stone..."
"...became very risky loans. Okay? And this led, of course, to 2008 when the entire thing collapsed. Okay? All right. So, the big question..."
"...bank in America. All right? Also, guys, look at this. Before 2008, most homes were actually owned by individuals. Okay? This is 2008. Okay?..."
"at this this is China 2008 2008 basically China US Japan Europe their economies were about the same. But starting about 2008 wow look..."
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