China & the American Imperial Economy | Louis-Vincent Gave

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 20 May 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In Episode 364 of Hidden Forces, Demetri Kofinas speaks with Gavekal CEO Louis-Vincent Gave about de-dollarization, U.S. re-industrialization, and his case for a Chinese “deflationary boom” and revaluation of the renminbi.

In the first hour of their conversation, Demetri asks Louis-Vincent Gave about the most important trends set to define the investment landscape in the years ahead. Gave argues that the U.S. and Europe are set to undergo a long period of structurally high inflation while China’s economy is set to experience a “deflationary boom” partly driven by rapid advancements in key industries like semiconductor manufacturing and electric vehicles.

In the second hour, Gave explains why he believes that the American imperial model of dollar recycling is unsustainable and why de-dollarization is a prerequisite for the re-industrialization of the United States. They also discuss whether or not America needs an industrial policy to reverse the multi-decade financialization of the U.S. economy that has driven up asset prices relative to their underlying income streams, exacerbating the wealth divide while destabilizing the country’s political system.

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Episode Recorded on 05/14/2024

Transcript

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0:00.0	What's up everybody? My name is Demetricofinus and you're listening to Hidden Forces, a
0:06.0	podcast that inspires investors, entrepreneurs and everyday citizens to challenge consensus narratives and learn how to think critically
0:15.2	about the systems of power shaping our world. My guest in this episode of Hidden Forces is Louis
0:20.8	Vincent Gav, the CEO and co-founder of Gavicol, a company that started as an independent
0:26.5	research firm with a focus on Asia and has evolved since to include fund management and
0:31.6	data analysis services.
0:33.0	In the first hour of our conversation, I ask Louis what he thinks are the most important trends
0:39.0	set to define the investment landscape in the years ahead, including why he believes that the U.S. and
0:44.8	Europe are said to undergo a long period of structurally high inflation, while China's economy
0:50.6	is said to experience what he describes as a deflationary boom, driven in part
0:55.5	by rapid advancements in key industries like semiconductor manufacturing and electric vehicles.
1:00.5	In the second hour, we explore why Louis believes that the American imperial model,
1:05.7	dollar recycling, is unsustainable and why de-dollarization is a prerequisite for the
1:11.2	re-industrialization of the United States.
1:14.6	We also discuss whether or not America needs an industrial policy to achieve this and help reverse
1:19.4	the multi-decade financialization of the American economy that has helped drive up asset prices relative
1:25.4	to their underlying income streams, exacerbating the wealth divide, and destabilizing the country's
1:30.4	political system.
1:31.3	If you want access to that part of the conversation, and you're not
1:34.8	already subscribed to Hidden Forces, you can join our premium feed and listen to the second hour of today's
1:40.1	episode by going to Hidden Forces.
1:42.7	I.O. slash subscribe.
	...

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