This episode brought to you by StockMarketHats.com. Enter the code "contrarian" at checkout for a 10% discount! This episode originally aired for premium subscribers on Jan. 13, the same day it was recorded, without ads or interruptions. To become a premium subscriber and take advantage of a host of other benefits (including the Daily Contrarian briefing and podcast), sign up through Substack or Supercast. James Fok joins the podcast to discuss his book 'Financial Cold War: A View of Sino-US Relations from the Financial Markets'. In Fok's view, the fates of China and the U.S. are highly intertwined, and neither country's leaders want the conflict to escalate -- but that could easily change. Content Highlights How the financial cold war is defined, some of the ways it is already impacting society and economics, and the risks of greater conflicts (3:06); Is military conflict between the U.S. and China inevitable? (4:49); The fates of the two countries are highly intertwined but the U.S. dollar and global monetary system have exacerbated imbalances (7:46); Why the belief that the USD's global role is good for the U.S. is a fallacy (11:02); The world needs to become less USD-denominated if the financial Cold War is going to be resolved. There is precedence for this (18:00); Background on the guest (30:00); The state of China's economy and where it's headed (33:44); China's economic problems are clear for all to see, but the social implications are probably being significantly underestimated (36:49). More Information on the Guest Website: JamesAFok.com; Book: Financial Cold War.