the price was sanction, rarely was rarely work except maybe a week, maybe a month. but the world always figures a way to get around the same. what is, whatever it is that was anxious, don't work. politicians get publicity and they say, see, i am saving the world, saving themselves and they're making friends which the who's

i'm action or it has here, we're going under grounding of the narratives, the so called mainstream media will give you coming up in the show. was boris johnson's g 7 conference, the nail in the coffin of neo liberalism with no china russia presents in coldwell that ahead of wednesdays. putin. by the summit in geneva, we investigate out china sees the future of mankind and where the western democracy is, amid all the small coming up in today's edition of going underground over the weekend, the circle g 7 countries including the u. s. u k. as in cornwall for its annual summit, that some of accused of repelling and anti russia and china agenda. western relations are one of the world's largest economies. china of argument. we shall know point, particularly in the wake of accusations over a lot of bleak and we get genocide. nevertheless, communist china is the only major economy that hit record economic growth in the 1st quarter of this year. amidst the current pandemic. joining me now for a special show from shanghai venture capitalists and political scientist. eric lee, thanks so much eric for coming on. the g stands for a group,

but i don't know whether you think it could stand for globalization. you said before that globalized door globalism, injected globalization is dead, has been dead for a while. was the g 7 basically another funeral? well, thank you for having the i will call the funeral. it, it's a, it's a small party, you know, listen, i grew up my high school. i went to big 300 kids just in my class below. if you want to have that party with just 7 people, you can do that. okay. but i tell you these, these guys i didn't go very far in life, maybe go to a far life because they wanted to nationalist enough. well, no, they were too expensive too, too much into themselves. and they thought they were hot. they were bullies and

they could run the world was much larger than that. and you've said that you can trace the current society as, as configured in western europe to, to new liberal reforms after the fall of the berlin wall. you see, one of us swathes of the world has basically failed. they failed western europe has failed. the 28th crash. i think you said the china failed to understand quite how cataclysmic, the so called western economic crisis was the we're still living with today despite the impact of the panoramic. well, i think it all transpired at the end of the cold war. and as we all know, america and west one, the cold war are somewhat de la co. but since then,

i think western society has gone on and a larger cope who say winning their own country. they thought they got the magic formula, which is global, or liberalism, taking around the world liberal market economics. electoral democracy, all these things they think is what made them succeed. and they're going to universalize and push it to the extreme in their own countries. and that led to the new liberal doctrine, both economically and politically and socially, if you will. and i think i have run the ground in the past 10 years. they've gone too far and left too great unraveling of their own societies and a large number of bathrooms, all the countries that adopted those values and those systems are not succeeding.

developing countries among developing countries, post cold war china is the only major country had really prosper and delivered for large number of people. delivered to them a better life in the world really. and the analysis that you'll see in the west for that is because it abandoned socialism. i understand you've said actually the years between 949 and 979 of state socialism were the fundamentals upon which the chinese 21st century was built. this is being evolution from the time of the creation of the people's republic. well, yeah, i had said that and i think you know, people miss and miss. since through the history of modern china, they tend to divide it into the 1st 30 years and their mouth to about late 97 in

a big shopping market reform, which china to what it is today. but i've always said that without the 1st year, the 2nd that the market with mom would not have been in the 1st 30 years. obviously we had a lot of problems and a lot of mistake. but it was in the 1st 30 years, we go life expectancy in 1949 valley about 40 i think what, what do you want when i live? i'll live life expectancy in 1949. when people to publish mounted to already in the late sixty's in the late 1967, i think i literacy rate i went from negligible to over 80 and understand among young people. in emily, 970 industrial base was built in the 1st 30 years, and more importantly, national independence china could invade it. and

that allowed us to pursue it after the 1st 30 years and the people at the public. so thank shopping warms or successful in many ways because the foundation was late in the 1st 30 years and profound you've argued has been the relationship between political power and capital. you claim that will these g 7 leaders capital exerts disproportionate influence over politics. here in britain, in nature of countries, whereas in china, capitalists just don't have that power. well, i'm a capitalist, i got no power in the medical bio anyway. so be, i think, what has gone astray in the where in america and maybe in europe and case who is after the cold war. they've gone on your liberal path where capital has

the interest in capital risen above the interest of the nation state. so capital began to pay politics and they looked after their own interest. so that's how you see the wealth gap going in liberal society and, and solidified authentication in america and western and indeed, equality has exploded their food banks down the street from me here. remind us, what is the precise difference between capitalism in nato, the liberal country and capitalism. in china, we don't have capitalism. we have a marketing economy. we do have a capital, and we have people like me, will manage capitalism. to me means a market economy that you managed in a way that it generate efficient with time allocate resources efficiently. ok,

capitalism to meaning somehow capital, the interest of capital rise above the interest of the friday of the whole. and they capture the process for their own benefit and that we don't want in the country. you've often extol the virtues of marriage, socratic, communist party, congress. the definition. philosophically of meritocracy, easy and equality. do you don't see the dangers of the increase in inequality in china? not just because of how successfully the in terms of market the economics china is become because of the system itself based meritocracy. well, i've always said that china is in has america craddick governance. but i never called merit talk to see. i think there's an important distinction. they're kind of governance me able people raise can rise through the ranks and become decision

makers. and that's what what medic medical governing me. so you want capable people or test it through the years and just like a good company, you will have people that are capable, your higher them at the bottom and they move, they food, their track record, and you give them more possibility. and how i, that's what, how government should work and you see the future in china, in terms of combat to equality, a return to some of the more socialist marxist principles that have arguably been lost. well, yes i, in the past we've seen a great transformation of china and a lot, 9 to 10 years. the, i think the paradigm shift occurred in 2012 with the 18 party congress. and china

had shifted from the 30 or 40 years prior to that, which was the headlong pursuit of economic growth at whatever the cost actually and that we're shifting away from that and towards what's caught more balance. well, balance development, which really mean a common prosperity and more equitable society. so there were a lot of side effects of market economics that we had pursued for decade. any quality is one of them. environmental degradation, it's another, an odd and corruption was another. so all of these issues needs to be addressed, and i think there's been a, a great transformation where the chinese society and china self perception and the national aspiration of the chinese people in my generation, especially among young people in my generation, we were primarily concerned about china being poor and lacking development.

if you ask younger generation also born post 990 and post 2000 there, 34 when you're married on by the way. there of course they want economic opportunities, but their primary concerns are about any quality and sustaining but sustainability for the future. so if you're a viewer in a nato country watching this interview, you're going to be thinking, hang on a minute. china is responsible for genocide every other day. we hear about this genocide in jan jang and arguably, arguably a connected to china's lack of interventionism given it's afghan, has done the chinese officials now talk about and you have no free press and you're not allowed to. the chinese people is 400000000 young people. they're not allowed to understand the history of civilizations from all different points of

view. what sort of society is that? well, if that's what they want to believe, they can believe. if that's true, china is going nowhere. if that's true, china would never have achieved that. that has already it's he you know, it's the young chinese view jordan, knowledgeable about the world. and that's the back here. we have the post 94000 generations. extremely lifelong about wikipedia. is that great, but i mean, we compete is banned in china. yeah. but, well, basically you'll get cnn. let me, let me give you one exam. ok. i'm so sorry. sorry. yeah, that's, yeah. but listen. i think that the year before 2019 alone about a 120 a 130000000 chinese people went abroad and came back the largest

tory the outbound part of the country in the world by far so. so to say that somehow chinese people don't know about what's going on in the world. i think they're battling mistake. eric, i'll still be there more from the leading chinese venture capitalist and political scientists often break these are the 4 people who pull the trigger. i survive something until viable. one of the hardest things that i had the face was not having a face at a low expectation that accepted accept the fact that i made that appointment. we have no fears. del change pretty fast for shots. different stories behind the bullets the

news news. welcome back. i'm still with venture capitalists and political scientists. eric lee, you said that europe the european project is basically finished. obviously, a lot of people in britain agree with you because they voted for breakfast and the largest democratic vote in history in this country. do you see the response to china's rise in terms of sanctions, in terms of what many suddenly chinese officials believe is propaganda in the western media. these are the only responses left for brussels and stroudsburg.

well, i wouldn't be so cut the mistake about europe and about china. i don't think your project finishes, certainly in some trouble. i think it's in trouble because probably because it's taken on a overly logical interaction for some time. and i think some corrections are needed and i'm optimistic about the future of europe and for to correct itself. and we know that, but in terms of the relationship between europe and china and the western china, we're talk about the meeting late in the year. i was just looking at the numbers of the 7 countries, the largest, 3 largest economy of 3 us japan in germany. guess who is their largest trading partner? off 3 china in the u. k. china,

biggest in full market. there's 200000 chinese students studying u. k u n of our cities, right? paying 1700000000 pounds a year and tuition is probably the largest source, the foreign revenue and your k universe days. so they're extraordinary interconnectivity between china and all the european countries. very, there is the collectivity in china, just replace, as you say, germany as britain's big, simple market. but you know about the sanctions, what the businessmen think, watching this program knowing the 3rd party sanctions, china is now saying they're going to retaliate against us that trump here, a sanctions that have been continued through to biden. what is the business? what's supposed to think, despite all the big figures of huge into connectivity about the future is this is, this is unstable. how can i be sure that governments here in europe and going to

sanction me for some elements in the supply chain? well, it's unfortunate, and i think it's like i said, china is the largest trading power in the world today, and it's the largest trading nation in the history of the world. so if, if the country is one of a and the i fully china, they're going to be isolating. but i mean, china is built in to the economic world economic system. i know that it's been reducing the amount of bonds us bond between buying us debt piley's increasing its now $9000000.00 up $1.00 trillion dollars of us debt and why, why is china so interested in, in optimism for the american dream. as we've seen, the recent instability in the united states, i'm not sure optimism is the right way to describe the national relationship. china,

obviously, the largest wide by the debt has to because the economic way to chime and of the trading relationship equation has to balance. going out, well, it's funny mentally. i mean, i'm not a economist. economists, i believe they will tell you that you are consuming too much and making a saving and that, that's why it's invalid. you know, one way out of the reliance on the federal reserve, which obviously that is into linked to and lots of talk even in nature, countries about the mass printing of money here in britain bag of england and the federal reserve is crypto currency was china clamping down so hard on crypto currency mine is that would make countries all over the world in the developing world, independent of a federal reserve, which arguably operates for

u. s. interests. well, i'm not an expert currency, but the, what i'm read is there are 2 issues. one is extraordinary energy come to mind calling us so i think that's one of them. they are trying to control it. and the 2nd reason, obviously, it's a currency that poly regulated at the moment. so they're probably the potential for financial. i mean, the us federal reserve i think are cracking down to currency in the future. i think critical currently does have a role. i think countries that cooperate and work work together to to, to, to develop the rules of the road. but i think the very early stage, yeah, i mean those who are full of your current job at solar energy development actually

is that they should be which is different from the other current. that means i think china is at the bottom of that and already the united states is looking into that too. but i mean when you talk about regulation, that will be the united states, regulate, regulating the dollar, trying to prefer that. no, i think china will be regulating its own army. i mean, fundamentally, what is, what are the big differences and perhaps reforms that nato countries fulfilled suffering. the legacy of the 20 way crisis could learn from china or the history is just to, to different. i mean, britain, have the civil service. people say vaccination program here in britain benefited from the creation of the national health service in the, in the post war period. are there other lessons that western european countries can learn from china recovering from the impacts of new liberal policies?

i think the western countries are really trying to develop a way to teach china town. they need to reform what the west america and europe need reform badly. they need to reform their systems to make them work better. less politics, less ology, and more, delivering practical good, and practical benefits for their people. that's what governments tell people all the time in the major country. that's exactly what they were trying to to. and in fact, you know, what was a big issue, i think with western country is that somehow they have commenced themselves that there's only one form of democracy as a liberal democracy. and they've made this length of liberalism and democracy. only

liberal society can give them a crack. and i think that's false. there could be other forms of democratic governance. i mean, i, for one thing, china is very democratic and it's not liberal. democratic. western countries tend to believe that somehow you have the liberal democratic and in fact, i think liberalism has left to a lack of democracy in western countries as may, the west, less democrat. so i think that's something that we ought to consider in western countries as well. and yet, the peoples of europe, the vast majority of them, are sure they are the ones living in the democratic societies. and you are not i, i think, you know, the west tends to measure of democracy by procedure and what that for liberalism, it's about procedures. so if you follow these procedures correctly or follow the

thing to sion correctly, your bad that condition nation democratic, you might be starving to death. democratic i think while the chinese that is for me, i think democracy ought to be measured by outcome by resolve. so if you're delivering a better life for a large number of people and go to the own people, of course your democratic, if you're not delivering how, how democratic are you? i mean, some may be asking, as we hear the rules based international order being recited here by up all additions all the time that. ready nature is losing patience with china. boris johnson has sent the biggest warship in the royal navy towards china's maritime borders. china is allowed 400 bases in circle your country. and obviously companies, big companies who are way obviously banned from the 5 g infrastructure of this

country. it is if it's, if the torque is being ratcheted up, multiply and the communist party of china is trying its best talking a bit more the wolf diplomacy. i don't know whether she just brings against him now . the wolf didn't have it. but it says if it doesn't realize how and circled and how isolated it is in the world, despite all the interconnectivity isolated militarily under siege, i think that's an unfortunate development. i think it's contrary to what we know are the facts on the ground and what we know from history. so i've always said that china, you know, 2030 years ago, china, chad, the chinese before this idea comp, fluoride, they wanted to rise people. and at the time,

a lot of people thought that you know that i was not credible and nobody believed it. but looking back, i think people rise has already happened. we went from a for a growing country to the great industrial power house that china is today in merely 2 generations, 2nd largest economy and the largest economy by purchasing power parity. yet, china has invaded a single country, not a single shot, fired. and i'm present it in human history. if you review the survey history, the rise of every great power on the new hampshire, the roman empire, from the british empire to america manifest destiny to the rise of modern japan, modern germany. almost all of them actually,

all of them were accompanied by great flesh at colonization of entire continents killing off and in slaves. months of entire population invaders, wars, and china thrive had been faster and bigger than them all. so far, not a shop had been inspired and that's a great accomplishment. and instead of celebrating this accomplishment encouraging its further development, we have these hostilities that developing among western powers and i think that's the process. and i'm fortunate and disappointed. maybe even in the global south, recognize the chinese achievements. i know the, the programs in latin america and in africa inside these to asia. here in britain, you probably know about media censorship. we have julian assigned you being

tortured up the road here in belmore prison. according to the un, china's network c, g, g n, defacto band here by regulate just how can china get this message out to the world that it comes in? peace if every time any official, medium tries to speak it's suppressed. and journalism, arguably in nato countries is well, some people accused of being captured by the military. industrial complex. well, i tell you, i don't have any idea how to get the message across. but if west and west, the media don't want to portray china that's truthful to their own people. that's their last. and they are doing just service to their own people and they're losing credibility. i'm on 1400000000 chinese people as well. and i think, you know, it's on down eric lee. thank you. and that's over the show what we'd like wednesday

when vitamin urgent needs with joe by mid geneva until then he went to actual media and tell us of using nature nation media reporting on china. ah ah, but it was sanction, rarely work rarely work except maybe a week, maybe a month when the world always figures a way to get around the same. whether it's whatever it is that was anxious, don't work. politicians get big and they say see, i am saving the world are saving themselves and they're making friends which the with

the, in the headlines today, no stability or predictability from the united states. me to regret the relationship in an interview with n. b. c. news ahead of its 1st stomach with president vitamin. also this our barbed wire rooftop sniff has overshadowed the nato summit in brussels, where lions chiefs double down on the supposed russian and chinese threat. joe biden promises half a 1000000000 doses of coven jabs the poor nations. but it seems not for everyone, we look at how washington's flow is being left behind.