China Was The World’s Biggest Economy Before The US Existed — Transcript

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1. 0:00When we all talk about the rise of
2. 0:01China, let me make this point. It isn't
3. 0:03the rise of China, ladies and gentlemen,
4. 0:05it's the re-rise of China. China isn't
5. 0:06dominating the rest of the world because
6. 0:08it's experiencing it for the first time.
7. 0:09China is dominating the rest of the
8. 0:11world because it's called muscle memory.
9. 0:13The Chinese remember what it is to be at
10. 0:14the top of the world. Between 1,000 and
11. 0:171820, the world's economy is China, the
12. 0:20largest economy over that period of
13. 0:21time. You know, we don't often think
14. 0:22about this, but the world's largest
15. 0:24economy today, the United States, in
16. 0:25global economic terms is a teenager. The
17. 0:27Gettysburg Address, fourscore and seven
18. 0:30years ago, our forefathers set foot on
19. 0:31this continent and brought forth a new
20. 0:33nation. What was that? That was 1776.
21. 0:36That's just the other day. Jan van
22. 0:37Riebeeck, who arrived in the Cape of
23. 0:39Good Hope in my country, South Africa,
24. 0:40arrived in 1652. A white man arrived in
25. 0:43South Africa before the United States
26. 0:45existed as a nation. Part of the reason
27. 0:46you see the United States do what it
28. 0:48does is because it's acting like what it
29. 0:49is, a teenager. I won't say any more
30. 0:51about that. I need my visa, so
31. 0:55So, the point is, when we talk about
32. 0:57these economies that are shifting and
33. 0:58changing, they are not the future, they
34. 0:59were, and they are re-becoming.