February 11, 2025 • 8 mins
Chris slams a recent Wall Street Journal column that praises China's efforts to build an economic fortress against US pressure. He argues that state-led industrial policies—marked by massive overbuild, rampant subsidies, and dumping of goods—are taking a heavy toll. With a crumbling real estate sector and an aging, shrinking population, Xi Jinping’s command-and-control approach appears to be leading the nation into economic disaster. www.watchdogonwallstreet.com
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Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
China's economic fortress is collapsing again another c I told
you so a moment here from the program. But I
gotta rip into the kids, the children, the children, the
little minds, the skulls full of mush, as Limbaugh used
(00:36):
to call them, the so called journalists that work at
the Wall Street Journal. Here is an actual column from
the Wall Street Journal today. China's z is building economic
fortress against US pressure as Trump turns up the heat
on Beijing. China's trying to become more technologically self sufficient,
(00:56):
but its efforts have a significant cost. Okay, and again
this is classic classic liberal children working at the Wall
Street Journal try rather than rather than conduct journalism, try
and take a paint a picture. Paint a picture that's
not true, but it's their little utopian vision. A day
(01:18):
in China could easily start like this. Roll out of
bed and swipe through we chat messages on your Huawei smartphone,
hop into a by d electric car and drive to
the railroad station where a high speed train from state
run factory risks you to your destination. Lead It's wonderful.
(01:44):
China's design nuclear plants, solar farms and wind turbines power
the city's lights. Nuclear power plants, yea. They're building coal
fired plants left right and all over the place, the
(02:06):
wind and solar for the most part. It is to
be sold to the rest of the world because the
rest of the world were dumb. Yeah, I remember, I
don't know. This had to be twenty years ago. Do
you remember I was popular with the kids. Remember those
stupid silly bands that kids had. They were like these bracelets,
(02:30):
these rubber colored bracelets, silly bands. And I remember on
the program making Fun. You know, some some Chinese guys
driving a Ferrari right now selling this crap all over
the globe. I'm making a fortune off this. I mean,
who buys this junk the same thing? Who buys Chinese
(02:51):
solar power cells and win all at crap? Yeah? Yeah,
dumb people with more money. Yeah. And A columnists that
China is relying on making more of its own there.
They says they're relying on uh Chinese made solar panels. Uh,
(03:16):
you know, rather than import energy. No. No, they're building
coal fire plants all over the place. Again, this whole
industrial policy. Yeah, they're they're they're able, lickety split. They
they can get they can get government dictats done much
(03:40):
faster than we can here. You got to hand them that.
And again, this is where I compare stupidity in the
United States is stupidity over in China. Their stupidity works
at a much faster pace. We'll give you an example. So,
if they got a government project that needs to be done,
(04:00):
no fricking environmental review, Okay, nobody's gonna file lawsuit against
the government because you know, in regards to their property,
government's just gonna take it. They will, they will wreck
anything in their path. Again, there's no individual rights there
that the state rules. The state's all powerful. So if
(04:23):
they decide they want to put up high speed rail here, there,
and everywhere, despite the fact that we've already gone over
this many of this high speed realm, nobody's riding these
things in certain areas of the country. Doesn't matter. Plow
over mister so and So's farm that's been in his
family for generations, and he didn't have a claim against it. Yeah. Again,
(04:47):
because they have we have individual rights. That makes a
little bit more difficult here in the United States. So again,
they can get their government programs going at a much
much faster pace, but they're expensive. They're expensive, and what
happens if they don't work? Again Chinese government, Oh, we've
(05:10):
got to build. We've got to build. We've got to build,
We've got to build. We've got to build. All these
buildings that no one's occupying, luxury, all this stuff, the
value of real estate collapsing. Again, that's that's how all
of these municipalities in China drive their revenue by just
selling off land. Wasn't so much in regards to property taxes,
(05:33):
and people invested in these things because again they don't
have they don't have any sort of pension system, social
security or anything like that. And they had a one
child policy where they have an aging population. Oh sure,
they'll spend a lot of money on industrial policy, meaning
(05:58):
that you know, maybe it takes longer for their soon
to be or shorter excuse me, for their soon to
be mothballed plants, you know, to go out of business. Again,
all sorts of Chinese goods because of this investment, and
this is part of the trade issues that we're having,
(06:18):
are getting pushed out at below market prices. That's called dumping.
It's called dumping. And that's the issue that we have
when a government comes in and it subsidizes a certain
industry or a plant, whatever it may be, and there's
no concern about it being in the black because again
(06:44):
it's government money. They produce these things, they can't sell them,
you know what, We'll just sell them overseas. We'll get
whatever we can take. Again, that's a problem. We we
do that too here in this country. And what do
you think the Chips Act is? We just subsidize ships
companies here in the United States? Completely unnecessary, completely unnecessary. Again,
(07:12):
the same type of thing they're calling it in this
Wall Street Journal article, it said, well, even though they're
praising the utopian vision, China needs to find new growth
levers right now to offset the drag on its economy
from a languishing real estate sector and a darkening global
backdrop for trade. How are you planning on turning around
(07:38):
the languishing real estate sector when you have a massive
overbuild and a population decline. How do you turn that around?
You can't. You can't again. This is what happens with
(07:59):
command and control again. China's in trouble again. Z put
them on this path, decided to go in the opposite direction,
more control out of Beijing, and it's failed. It failed
Economic fortress. Please, it's a disaster right now. Watchdog on
(08:25):
Wall Street dot com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
China's economic fortress is collapsing again another c I told
you so a moment here from the program. But I
gotta rip into the kids, the children, the children, the
little minds, the skulls full of mush, as Limbaugh used
(00:36):
to call them, the so called journalists that work at
the Wall Street Journal. Here is an actual column from
the Wall Street Journal today. China's z is building economic
fortress against US pressure as Trump turns up the heat
on Beijing. China's trying to become more technologically self sufficient,
(00:56):
but its efforts have a significant cost. Okay, and again
this is classic classic liberal children working at the Wall
Street Journal try rather than rather than conduct journalism, try
and take a paint a picture. Paint a picture that's
not true, but it's their little utopian vision. A day
(01:18):
in China could easily start like this. Roll out of
bed and swipe through we chat messages on your Huawei smartphone,
hop into a by d electric car and drive to
the railroad station where a high speed train from state
run factory risks you to your destination. Lead It's wonderful.
(01:44):
China's design nuclear plants, solar farms and wind turbines power
the city's lights. Nuclear power plants, yea. They're building coal
fired plants left right and all over the place, the
(02:06):
wind and solar for the most part. It is to
be sold to the rest of the world because the
rest of the world were dumb. Yeah, I remember, I
don't know. This had to be twenty years ago. Do
you remember I was popular with the kids. Remember those
stupid silly bands that kids had. They were like these bracelets,
(02:30):
these rubber colored bracelets, silly bands. And I remember on
the program making Fun. You know, some some Chinese guys
driving a Ferrari right now selling this crap all over
the globe. I'm making a fortune off this. I mean,
who buys this junk the same thing? Who buys Chinese
(02:51):
solar power cells and win all at crap? Yeah? Yeah,
dumb people with more money. Yeah. And A columnists that
China is relying on making more of its own there.
They says they're relying on uh Chinese made solar panels. Uh,
(03:16):
you know, rather than import energy. No. No, they're building
coal fire plants all over the place. Again, this whole
industrial policy. Yeah, they're they're they're able, lickety split. They
they can get they can get government dictats done much
(03:40):
faster than we can here. You got to hand them that.
And again, this is where I compare stupidity in the
United States is stupidity over in China. Their stupidity works
at a much faster pace. We'll give you an example. So,
if they got a government project that needs to be done,
(04:00):
no fricking environmental review, Okay, nobody's gonna file lawsuit against
the government because you know, in regards to their property,
government's just gonna take it. They will, they will wreck
anything in their path. Again, there's no individual rights there
that the state rules. The state's all powerful. So if
(04:23):
they decide they want to put up high speed rail here, there,
and everywhere, despite the fact that we've already gone over
this many of this high speed realm, nobody's riding these
things in certain areas of the country. Doesn't matter. Plow
over mister so and So's farm that's been in his
family for generations, and he didn't have a claim against it. Yeah. Again,
(04:47):
because they have we have individual rights. That makes a
little bit more difficult here in the United States. So again,
they can get their government programs going at a much
much faster pace, but they're expensive. They're expensive, and what
happens if they don't work? Again Chinese government, Oh, we've
(05:10):
got to build. We've got to build. We've got to build,
We've got to build. We've got to build. All these
buildings that no one's occupying, luxury, all this stuff, the
value of real estate collapsing. Again, that's that's how all
of these municipalities in China drive their revenue by just
selling off land. Wasn't so much in regards to property taxes,
(05:33):
and people invested in these things because again they don't
have they don't have any sort of pension system, social
security or anything like that. And they had a one
child policy where they have an aging population. Oh sure,
they'll spend a lot of money on industrial policy, meaning
(05:58):
that you know, maybe it takes longer for their soon
to be or shorter excuse me, for their soon to
be mothballed plants, you know, to go out of business. Again,
all sorts of Chinese goods because of this investment, and
this is part of the trade issues that we're having,
(06:18):
are getting pushed out at below market prices. That's called dumping.
It's called dumping. And that's the issue that we have
when a government comes in and it subsidizes a certain
industry or a plant, whatever it may be, and there's
no concern about it being in the black because again
(06:44):
it's government money. They produce these things, they can't sell them,
you know what, We'll just sell them overseas. We'll get
whatever we can take. Again, that's a problem. We we
do that too here in this country. And what do
you think the Chips Act is? We just subsidize ships
companies here in the United States? Completely unnecessary, completely unnecessary. Again,
(07:12):
the same type of thing they're calling it in this
Wall Street Journal article, it said, well, even though they're
praising the utopian vision, China needs to find new growth
levers right now to offset the drag on its economy
from a languishing real estate sector and a darkening global
backdrop for trade. How are you planning on turning around
(07:38):
the languishing real estate sector when you have a massive
overbuild and a population decline. How do you turn that around?
You can't. You can't again. This is what happens with
(07:59):
command and control again. China's in trouble again. Z put
them on this path, decided to go in the opposite direction,
more control out of Beijing, and it's failed. It failed
Economic fortress. Please, it's a disaster right now. Watchdog on
(08:25):
Wall Street dot com
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