00:00They thought, Russia, that's a nothing.
00:04And they thought, China, don't they grow rice there?
00:10That's an impoverished country of villages.
00:13We don't even have to worry about that.
00:15We are the sole superpower of the world.
00:18Well, that's not how economics works, actually.
00:22China has increased the size of its economy 40 times since 1980.
00:2940 times.
00:31It's a much bigger industrial power.
00:34It is technologically more advanced than the United States in most sectors, not all, but in most sectors right now.
00:43When you drive your vehicles 10 years from now, they will be Chinese electric vehicles.
00:50And even if you happen to drive a Tesla, that's a Chinese vehicle, by the way, with Elon Musk at
00:58the top.
00:59But it's the gigafactory in Shanghai that gives it even a chance to compete.
01:06So China made it.
01:08And that's why we're at the end of yet another cycle.
01:11The European imperial age is over.
01:14Remember, the British imperial age ended in 1945, and the U.S. imperial age is ending right now.
01:24You
