his tears in war to america, the arsenal of democracy in the battle against covert 19 pandemic. our nation is going to be the arsenal of vaccines for the rest of the world. so you better believe an uncle sam, the all mighty. it'll be quite unfortunate to have the plague on both your houses. otherwise, some of the world news and the possible release of capital and independence leaders is triggered mass protests in spain. tens of thousands, including the heads of 3 right wing parties gathered in madrid center square here, that after the deputy prime minister announced the potential pardoning of 12 set protests behind the failed independence attempt in 2017 government says their release would come tension in catalonia, however, it demonstrates the student view it as a threat to national unity, and according to the latest survey to a significant majority for country is against the plan. a chemical plans explosion in the u. s. state of illinois has sent massive plains of black smoke billowing

hind to the authorities have all the evacuation of local residents, although no injuries have been reported. they came to factory has seen, sorry, has issued a statement saying that it is still investigating the cause of the blast. and 33 people have been injured by a large blast in the russian city of nova scent bisk a true and critical condition. they told the explosion came off for 5 bro character . the petrol station with the ax isn't apparently involving a delivery truck. firefighters were hampered by thick smoke, although the blaze hair has now been protect. just coming up to our past 9 mosque, i saw it just gone half 9 in moscow will be back with more news that helped me the the the news

the the, the with i'm action or we're going underground digging 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 or russia president and coldwell that ahead wednesdays. putin. by the summit in geneva, we investigated china sees the future of mankind where the western democracy is full of small coming up in today's edition of going underground for over the weekend. the so called g 7 countries, including the u. s. and you came in cornwall for its annual summit that some of

accused of repelling and anti russia. and he, china, agenda, west and relations with 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 capitalist 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 or globalism injected. globalization is dead, has been dead for a while. was the g 7 basically another funeral? well, thank you for having the car. the funeral it, it's a, it's a small party. you know, listen, i grew up my high school, i went to high school,

300 kids just in my class below. if you want to have a party with just 7 people, you could do that. ok. but i tell you these, these guys, so i didn't go very far in life. maybe go a far life because they wanted to nationalist enough. well, no, they were 2 exclusive to 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 is failed. the 28th crash. i think you said that china failed to understand

quite cataclysmic. the so called western economic crisis was that we're still living with today despite the impact to the pandemic. well, i think it all transpired at the end of the cold war and as we all know, america and west one, the war are somewhat a lot co since then, i think western society has gone on and a larger cope, who se, wedding, 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 left to

the new or 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, 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 that had really prospered and delivered for a 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 abandon 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 in the 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 mistakes. but it was in the 1st 30 years. we go live expectancy in 1949 bailey about 40. i think what, what do you want? you and 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 like a literacy rate i went from negligible to over 80. then understand, among young people in emily, 970 industrial base was built in the 1st 30 years. and more importantly, national independence. china acquired by, wow, nobody could invade it. and that allowed it to pursue it. after the 1st 30 years and the people at the public shopping the warms were successful in many ways because the foundation that 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, countries. whereas in china, capitalists just don't have that power. well, i'm a capitalist. i got no power in the medical power anyway. so be, i think, what has gone astray in the west in america, and maybe in europe you case who is after the cold war they've gone on the new liberal path where capital has the interest and capital risen above the interests of the nation. so capital began to pay politics and they looked after their interest. so that's how you see the wealth gas, boeing liberal society, and solidified authentication in america and western side. and indeed,

equality has exploded their food banks down the street for 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 market economy, we do have capital, and we have people like me will manage capitalism. to me means a market economy that you managed in a way that generate efficient time allocated to efficiently capitalism, to meaning somehow capital, the ancient and capital rise above the interest of the friday of the whole. and they capture the cost for their own benefits. 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 in equality. 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 on meritocracy. well, i've always said that china, india has american credit governance. but i never call american cd. i think there's an important distinction there. governments, me able people raise cash prior to the rack and, and become decision makers. and that's what matters govern 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 hire them at the bottom and they move, they food, their track record, and you give them more possibility and how that's what, how government should work. and you see the future in showing that in terms of

combat, again, quality 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 comic wealth at whatever the cost actually. and that we're shifting away from that towards what's called more balance. well, balance development, which really mean a common prosperity and more equitable society. so there are a lot of side effects of market nomics that we had for food for any qualities. one

of them, environmental degradation is another, an odd and corruption was another. so all these issues needs to be addressed, and i think there's been a, a great transformation where the chinese society in 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 impor and lacking about if you ask younger generation also born post 994-2000 there 34 in your minimum, by the way there of course they want economic opportunities, but their primary concerns are about any quality and sustainable 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

alleged genocide in gene 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. or 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. it's extraordinary knowledgeable about the world. and that's the fact that we have the post money for 2000 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 were the largest current 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 after this break. ah,

ah. welcome back. i'm still with venture capitalism. political side as eric lee, you said that europe the europe, ian 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 as 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 ben is certainly in some trouble. i think it's in trouble because probably because it's taken on

a overly logical direction for some time. and i think from self corrections are needed, and i'm, i'm optimistic about the future of europe and for the 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 countries, the largest 3, the largest economy of through us, japan in germany. guess who is their largest trading partner, austria, china. okay. in the u. k. china, your biggest info market. there's 200000 chinese students studying u. k u n of our cities, right? paying 1700000000 pounds

a year and tuition. it's probably the largest thought the foreign revenue and your universe days. so they're extraordinary interconnectivity between china and all these different countries. very there is the indic electricity in china, just replace, as you say, germany as britain's big, simple market. but you know about the sanctions. what does a businessman think? watching this program, knowing the 3rd party sanctions, china is now saying they're going to retaliate against us. trump, here a sanctions are being continued through to biden. what is a business when supposed to think, despite all the big figures of huge india connectivity about the future is this is, this is unstable. how can i be sure that the governments here in europe and are going to sanction me for some element in the supply chain? well, it's unfortunate and i think it's delta v. like i said, you know, 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 they, i fully china, they're going to be isolating. but i mean, china is built in to the economic world cannot exist. and i know that it's been reducing the amount of bonds, us bonds between buying us debt is increasing. it's 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 financial relationship. china, obviously, a lot of matter. well why buying? the debt happens because the economic way to china and of the trading relationship equation has the balance going on well,

on the mental like if i mean, i'm not a economists economists, i believe they will tell you that the us consuming too much and making a saving and that, that's why is involved, 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 the nato countries about the mass printing of money here in britain bag of england and the federal reserve is crypto currency. why it's china clamping down so hard on the 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 us interests. well, i'm not the 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 out of potential for financial. i mean the us federal reserve, the i thing are cracking down crypto currently in the future, i think currently does have a role. i think countries that cooperate and work work together 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 and in development actually is that they should be which is that one problem. the other kind of that, that means i think china was at the bottom of that and already the united states is looking into that too. but i mean, when you talk about regulation,

that would be the united states, regulate, regulating the dollar. trying to prefer that no, i think china would be regulating its own d. 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. all the history is just to, to different. i mean, britain, habitable service, people say vaccination program here in britain benefited from the creation of the national health service in the, in the post war period. other, other lessons that western european countries can learn from china recovering from the impacts of new liberal policies. i think western countries are really trying to develop way to keep china down. they need to reform what the west america

and europe need reform balance. they need to reform their symptoms and 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 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 convinced themselves that there's only one form of democracy as call 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, i, for one thing, china is very democratic and it's not liberal. democratic. western countries

tend to believe that somehow you have to be liberal democratic and in fact, i think liberalism has left to a lack of democracy in western countries as make the west let them aquatic. so i think that's something that we ought to consider in western countries. 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 democracy by procedure and what that for liberal in its about procedures. so if you follow these procedures correctly or follow the things to sion correctly your condition mission democratic, even if you're starving to death, you're democratic. i think, well, 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, vast majority of young people, of course your democratic. if you're not delivering democratic argument, 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 nature is losing patience with china. morris 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, 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 it 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 called people right now they wanted to rise people at the time a lot of people thought, 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 nearly 2 generations. second largest economy and the largest economy by purchasing power parity. yes, china has invaded a single country, not a single shot, fired and unprecedented in human history. if you reveal survey history, the rise of every great power on the entire, 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 flush at colonization of entire continents killing off slaves 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 a, my western powers. and i think that's an unfortunate and disappointing maybe even in the global south recognize those 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 and being tortured up the road here in bel much prison. according to the un, china's network c 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 suppressed, and journalism, arguably in nato countries as 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 it will be and what the media don't want to portray china that's truthful to their own people. that's their loss. and they are doing 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 eric lee. thank you. and that's for the show what we'd like a wednesday when pigeon needs with joe by mid geneva until then keep in touch with social media and tell us of using native nation media reporting on china. it's fast . the

guys are financial survival guide, liquid assets. those that you can convert into cash quite easily. but keep in mind, no out just to mean to inflation, better watch guys report guidelines is no stability or predictability from america. i may have to, to regret the state of the relationship with the u. s. in an interview with nbc ahead of his 1st summit with president biden. meanwhile, bob, why i'm rooftop knife is shadow the nato. some it's in brussels, where lines chiefs double down on the suppose the threat from russia, and also china and joe biden promises half a 1000000000 jobs for poor nations. but it seems that they won't be available for every 40. we look at how washington is favoring its allies. i've written ah.