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Steve Bannon — If America Doesn’t Thwart These Five Things, China Will Be a Hegemonic Power

Summary:
“It said that the mercantilist, Confucianist, authoritative system of China is the victor over the Judeo-Christian, liberal democratic free-market West; that their system is better, and they go over how it is better and how they’ve beaten us,” [Steve Bannon] argued.He warned that there are five things that China is going to achieve in the next few years, and if America does not thwart them, “China will in fact be a hegemonic power.” They are:The rollout of fifth generation mobile technology — known as “5G.” The expansion of the One Belt One Road Initiative — a transport system to go through central Asia and connect China to the Middle East. Plan 2025 — 10 industries the Chinese have aimed to dominate by 2025. Bannon described the Chinese as “way ahead.” Bannon said three of those are

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“It said that the mercantilist, Confucianist, authoritative system of China is the victor over the Judeo-Christian, liberal democratic free-market West; that their system is better, and they go over how it is better and how they’ve beaten us,” [Steve Bannon] argued.
He warned that there are five things that China is going to achieve in the next few years, and if America does not thwart them, “China will in fact be a hegemonic power.” They are:
  1. The rollout of fifth generation mobile technology — known as “5G.”
  2. The expansion of the One Belt One Road Initiative — a transport system to go through central Asia and connect China to the Middle East.
  3. Plan 2025 — 10 industries the Chinese have aimed to dominate by 2025. Bannon described the Chinese as “way ahead.” Bannon said three of those are silicon chips, robotics, and artificial intelligence.
  4. Conversion of all oil transactions into Chinese currency, which he said will end America as a reserve currency and force the U.S. to start paying off the 20 trillion debt.
  5. Financial technology. Bannon said the true piece of leverage with North Korea is the ability to decouple countries from the world’s financial system, sanction companies, and shut banks off from capital markets. He predicted that in 5-10 years that ability is gone.
“If they accomplish those five things, they win,” he predicted.
Breitbart News
Steve Bannon: If America Doesn’t Thwart These Five Things, China Will Be a Hegemonic PowerAdam Shaw

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Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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