How China Killed America’s Middle Class - And How Trump’s Tariffs Will Bring Jobs Back to the U.S.
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 31 March 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Patrick Bet-David explains how Nixon’s 1972 visit to China and China’s 2001 entry into the WTO triggered the loss of millions of U.S. manufacturing jobs. From cheap labor costs driving outsourcing to the devastation of states like Michigan, Ohio, and Pennsylvania, this video explores the economic fallout on Middle America, the rise of the Rust Belt, and how tariffs are now bringing jobs back. Hit thumbs up and subscribe for more!
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ABOUT US:
Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Transcript
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| 0:00.0 | Two decisions we made in the last 50 years that destroyed our manufacturing jobs in US. |
| 0:04.6 | Let me tell you what I mean by this. Imagine in 1970. If you worked in China, do you know what |
| 0:09.7 | the average employee made in China minimum wage? You ready for this? They made 50 wands per month, |
| 0:14.9 | which is roughly $20.33 per month, which is roughly 8 cents an hour. |
| 0:20.9 | That's the labor costing China. |
| 0:22.3 | So imagine Nixon is sitting there saying, let's open it up so we can start doing business |
| 0:26.6 | in China. |
| 0:27.6 | We do. |
| 0:28.6 | They call it the pink-punk diplomacy because now we can send our jobs and manufacturers over |
| 0:33.2 | there. |
| 0:34.2 | And this was the first time ever a US president visited China. |
| 0:36.9 | Nixon goes to China. |
| 0:38.3 | 25 years, there was no communication between US and China at all during that period. |
| 0:43.3 | He goes, they broker the deal. Oh my God, that's so awesome. Fast forward, gradually, |
| 0:49.3 | jobs are moving, jobs are moving, jobs are moving. Then in 2001, December 11th, China enters the World Trade |
| 0:56.6 | Organization within a span of eight years later, six million manufacturing jobs goes over there. |
| 1:03.9 | The rich got richer because they're like, listen, if labor to us is going to cost 50 cents an hour |
| 1:08.9 | in China, it's costing us a bunch of money here. |
| 1:11.2 | We're about to make a lot of money. But what did it do to middle America? It absolutely destroyed it. |
| 1:16.2 | We're going to talk about that today. |
| 1:17.6 | If you get value out of this video, give it a thumbs up and subscribe to the channel. |
| 1:30.0 | Let's get into it. |
... |
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