"We Were Wrong About China's Economy" | American Veteran Banker Reveals the Untold Truth

Added: 2026-06-01

[00:00:01][music] >> Chengdu has assumed a position, a leadership position in development in in western China.

[00:00:11]I think Chengdu are the key components of this of this renewal of the west.

[00:00:18]>> [music] >> And now China is leading the world in many ways.

[00:00:23]For economic development, [music] okay, economic and trade development, what we see is growing interdependence [music] and reliance on each other.

[00:00:33]Eventually, the benefits of [music] economic cooperation will push through these barriers, you know, bit by bit.

[00:00:46]>> [music] >> There seems to be an appreciation in Chinese culture [music] of this balance in nature and harmony with nature.

[00:00:59]So, you know, this should be a part of the economic development of the country [music] and of the region as well. I think that first of all, Chengdu has assumed a position, a leadership position in development [music] in in western China. I think Chengdu are the key components of [music] this of this renewal of the west. And so it's important that that the whatever model is used, for [music] example, development of this area here, is is correct and is and [music] is implemented, you know, with with the important things in mind. You know, not just GDP growth, a more comprehensive view of development, you know, [music] economic growth, but also insurance of a quality of life, [music] uh eco- ecological uh development and protection is essential.

[00:01:55][music] And further eco- economic growth would be useless unless the environment is protected, etc. [music] So, here is where I think Sichuan is is a model and a leader. Sichuan and and China could participate even to a greater and a deeper extent [music] in the global dialogue would be to use development like this, tourism and ecological development, you know, as a means of communication with other what other countries.

[00:02:26]>> [music] >> And historically, I had understood that Sichuan was surrounded by and protected by mountains, >> [music] >> which creates a certain challenge, you know, to development of of the province historically. And today, you know, it's it's [music] opened up, of course. And when I see the kind of development that has [music] been practiced in this in this area, I'm very optimistic [music] that that the government can use this model, you know, to to to to improve [music] other areas as well.

[00:03:04]You know, there is a a process process that naturally happens >> [music] >> when when people sit down together and talk and share experiences, >> [music] >> you know, they grow close. These people who are with us today will leave the will go back to America or back to Europe. And the things that we'll talk [music] about, the things that we'll say, you know, will will will really make [music] this this experience shine.

[00:03:30]I would like to see something that would expand the speed of this [music] of this process. One thing might be able might be focusing on youth. Some of them [music] studying or even teaching in in in universities here.

[00:03:47]These people [music] are ambassadors when they go back to America. All of these methods and and channels can be explored [music] on how we can make this work on a larger scale. I'm very optimistic. You know, people people people to people exchanges are in between China and the US. I think that the people to people exchanges are stronger.

[00:04:10]>> [music] >> I have a very strong optimism, you know, that things will will will continue to improve [music] and this will be the the the foundation, you know, for for better relations >> [music] >> in the future, I think.

[00:04:26]And now [music] China is leading the world in many ways. For economic development, okay, economic and trade development, what we see is growing interdependence and reliance on each other. The major powers cannot get along without each other. [music] China's a leader in electric vehicles and and energy storage. We need to find a way, you know, for these technologies to filter [music] into Western economies.

[00:04:55]Eventually, the benefits of economic [music] cooperation will push through these barriers, you know, bit by bit. In particular, [music] in the West, you know, we have always believed that a system of free enterprise, you know, without very many limits eventually produces [music] the the greater value for society. And I I think an an alternative has been [music] proven, you know, in China, where a planned economy and focused investments in certain areas, key areas, [music] can also produce, you know, the same kind of value for society and the kind of >> [music] >> resilience that an economy needs. I think that what what we've seen is China's way of doing things works. It's [music] something that's not very well understood by by most people in the West. [music] Proof is the level of development China has achieved. So, it's a very important step for for the West [music] in particular for it to realize that the Chinese model has a lot to offer.