years, but also how much of it has been directed against the globalization from rising populism to a global pandemic. and war in europe. the consequences are ready by saying stagflation trade old talkie trade was worry, you cry? no, it's a, it's a difficult locally bar for everyone actually never before has the post war economic order been on such chafie grands rooted is a, you know, he wants to get rid of the states. in this video, we'll unravel some of the breadth of what is done increasingly handled on the story . we'll look at the complicated relationship between the united states and china when turning it's when, when. ready often means china wants to ring twice. geopolitical conflicts and crises are re foraging alliances. aging,

under she, gen paying, has seen kootenai as allied in their common presentment of the united states. and has some countries are finding themselves in a tricky balancing act between friends and foes? this is a big, big issue. what india, it's a, it's a lot of i will issue that though, coming up on business beyond for the best part of a century, the united states have been the world's undisputed economic superpower. after world war 2, inexperienced, enormous growth driven by ramp and consumerism and a growing faith in free enterprise. the fall of communism in 1989 further solidified faith in a western that system. economic barriers style of countries rushed to fill demand in an evermore connected global market place. the effect on world trade was dramatic in 1950,

63000000000 dollars. within 10 years that figure had more than doubled by 1998 and multiply 30 fold to $3.00 trillion dollars. in 2020, it stood at more than 17 trillion. ah, but in recent years we've seen a backlash against globalization. and many economists think it was the global financial crisis that set the stage for the shift we're seeing today. the whole model, our capital, is more maybe with more social characteristics in europe. but still, i was put was tested on a reading level out china. but even russia was that our model was very fragile in the financial crisis, which followed a few years later by a rise in both populism authoritarianism, around the world. when you look at trends,

especially and not only the rise of china, china under, she'd be more aggressive, broad, aggressive terms. you've got a very different context now. when it comes to shifting power dynamics on the global economic stage, no story can rival that of the united states and china. the 19 ac, china's g d. p accounted for less than 3 percent of total global i put with us accounting for more than a 3rd. since then it's played an extraordinary game of catch up. the us share of global g d p have fall into less than 25 percent with china and our accounting for over 18 percent trying to would like to be in the position that it has been historically way back in the day where it was center and others interacted with china in

a way that gave china deaf and china could keep everything under control and have it go their way. claire read negotiated for the us on trade with china, from 2006 to 2014. she says, china, a long term goal is to dominate future proof industries like artificial intelligence, semi conductor chip and pharmaceutical for china to acquire the kind of international influence, the u. s. has had for decades, it will need to deepen its relationships, although not a formula line, the bricks that brazil russia, india, china, and south africa has attracted some attention. in china, the state from media has praised the brakes alliance for boosting, what it called non western styles of multilateralism. but alliances don't guarantee harmony. the relationship between china and india, both members, it's

a good case in point home to 1400000000 people. india is the worlds fastest growing big economy, but it's relationship with china is currently overshadowed by a fraction border dispute. tens of thousands of soldiers from both sides are stationed on the more than 3000 kilometer long border. hardly a solid foundation for an ever deepening economic union in short say that this is actually an katie made at the moment and this is also spilling a lot in political, economic, strategic issues as well. no surprise then that india has been courses by the u. s . as part of its own trade standoff with china, it's part of the new us lead indo pacific economic framework, a free trade part of 14 mostly asian nations,

which excludes china. the indian chinese relationship isn't the only complicated one within bricks. india is also facing a tricky balancing act in its relations with russia. its failure to take clear stance on the war and ukraine on its decision to buy more russian energy have rates rise. but commentators point out that historically sales of russian golf to europe have been far more significant. and the criticism of india's purchase as this here are being taken out of context. this year is an exception. but if you look at the last 70 years, the total impulse is no more than at the most wild game or something like a $100000000000.00 from the middle east. so, nowhere in proportion as when we say the russian energy complement in

the energy basket. so i think it is an exaggeration, probably lack of inflammation. questions of energy dependence have come to the 4th and rushes invasion of ukraine at the p and countries rush to lessen their dependence on rushing. gov and western functions aim to cut moscow out of the financial system. it's no wonder at the flat of mere poodle is among those pushing hard for an alternate order missile mature. over the past decade. new powerful centers have been formed on the planet. clearing themselves louder and louder. each of them develops its own political systems and public institutions. implement its own models of economic growth in the amount of course has the right to protect them can to ensure national sovereignty. shoot united states, you know, some notes in it yet, but the war in ukraine has put pressure on countries that may have been ready to align themselves with russia. shortly before the war, china and russia declared that there were no limits to their strategic partnership

. but so far, there is little evidence that china is willing to break western sanctions on russia . but russia and china's growing bond under the leadership of the student. and she does appear to have one water tight element from joint opposition to a us lead global order aging under siege and paying has seen her as allied in their common resentment of the united states and the u. s. global leadership as, as a superpower. and what they see as interference in their domestic internal affairs, criticism of their political systems, pressure to change their economies address, human rights, et cetera. and so that alignment is probably gone further than most expected. china

may want the united states to stay out of business, but the reality is the 2 countries economies are deeply entangled. despite the tensions of recent years, which saw the country slap tariffs on each other goods from china and the us remain each other. the biggest individual trading partners, us trade with china, has grown massively in recent decades. but as you can see here, it's an on even relationship with the united states importing far more from china than it exports. that has led to cold for the united states to decouple. in other words, disentangle itself from china. but it's not realistic. if the united states tried to de couple entirely from china, it would be very harmful to our economy. it would probably be harmful to our innovation. it would just have other economies

industries step in where the united states stepped out. so it wouldn't work. decoupling probably wouldn't be a very good idea for china either. china also knows that its larger economic faith lives with the rest of the world. and even though it has this tense relationship with the united states and others, it is you know, most of it's academic growth that's been dependent on globalization with the rest. the world needs to find a way to balance those things. at the beginning of this video, we ask whether we're at the dawn of a new global economic age is the case of a u. s. versus a chinese lead system. the differences are major. the market lead system of the u. s. favors a lack of government intervention that chinese system favors had the state involvement

. ah, they have reinvigorated support for state enterprises really focused on indigenous using technology, achieving, trying to achieve self reliance, not done what previous leaders have done and trying to manage and maintain a healthier constructive relationship with the united states and the west. and so what i'm talking about, what kind of order china would like, it's really what kind of order a sheet and thing led china would like, which is a world safe for state capitalist authoritarian systems. so could opposition to a chinese inspire to protection of order be strong enough to push back the tides. think it's a realistic cult that there could be a backlash. backlash, that large numbers of people, maybe even the clear majority and many will realize that nationalism, that protectionism and rivalry close it miss all worse for them than being

more open or engaged. and having political will use is worse than signing up the term, on least by the global financial crisis of 2008 and 9. and more recently, the pandemic and war in ukraine has laid fair and new truth blind faith. and globalization has come to an end with with

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