What China Thinks of Us and Why it Matters
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 20 August 2021
⏱️ 22 minutes
🧾️ Download transcript
Summary
I got a lot of feedback on the special “China edition” Dividend Cafe two weeks ago, but I promised a lot more to come on the subject, and that is what we have today. I don’t only want to walk through various perspectives on Chinese investment, but really want to make sense of what much of this means for hemispheric changes taking place in global monetary realities. There is a tremendous investment relevance to all of this, and that will be just as true for anyone who never buys a dollar of Chinese stocks, bonds, or currency. We ignore this topic to our own peril.
It has been a historical week in a lot of ways, and I have written about Afghanistan and its potential impact on American domestic policy throughout the week at The DC Today. We will know more next week about the sausage-making on capitol hill. Market volatility this week was largely Fed-driven and seasonal. I don’t believe the events in Afghanistan this week will be remembered by markets for minutes, but I believe they will be remembered globally for decades.
And globally, we have much to consider if we are to be smart investors. So to that end, we work …
Join me in the Dividend Cafe (where as a special bonus today, some pretty hardcore facts about dividend growth superiority will be presented).
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.8 | Well, hello, welcome to the Dividend Cafe. I am recording for the very first time in our brand new studio here in our brand new York office. |
| 0:24.0 | We had a studio down on the 20th floor here in the Greybar building in New York City. |
| 0:30.8 | Now we're on the 22nd floor in the same building and in our kind of new and improved offices for the Bonson group and in a new and improved studio. |
| 0:39.3 | So hopefully it looks and sounds good for you. I did my first television appearance for Fox Business |
| 0:46.5 | yesterday in the new studio and I like it a lot. So we're, you know, far more important, I'm sure, |
| 0:53.6 | than the look and feel of wherever I'm recording for you all is what we're talking about. |
| 0:59.2 | And what we're talking about today is more of this subject of China. |
| 1:03.9 | And I began two weeks ago, I did a kind of dedicated treatment of a number of facets of what is happening geopolitically in China, |
| 1:16.2 | what its ramifications are for U.S. investors, both on the equity and the debt side. |
| 1:22.8 | I think there's an awful lot more to unpack in terms of what it means globally. |
| 1:28.3 | I'm really intrigued by those who believe that it might mean a lot to them if they were invested in Chinese stocks or Chinese bonds, |
| 1:37.3 | but if they just avoid Chinese stocks and bonds, then it doesn't have to affect them. |
| 1:42.3 | And I think that's an unbelievable error in thinking. |
| 1:46.8 | I'm not talking about something that is limited in its impact. |
| 1:53.2 | I'm talking about something that is global in its impact economically. |
| 1:58.3 | And certainly in terms of the sort of hegemonic forces at play between the U.S., |
| 2:05.2 | China, between the world's reserve currency that is the dollar and what China's aspirations |
| 2:12.7 | for its own currency are. |
| 2:14.6 | So I want to do a little follow-up on it, but I'm not going to spend all of our time today talking about China. It'll be the bulk of the comments I make, |
| 2:21.5 | but I'll switch gears at the end and I have a few things I want to say about dividend growth. |
| 2:26.6 | It came from a new report I read out of Standard & Poor's this week. And then we're going to |
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