Jayant Bhandari – The Future of Humanity Lies in East Asia

In this episode, Jayant Bhandari the host of the highly acclaimed Capitalism and Morality sits down with Maurice Jackson of Proven and Probable to discuss the virtues that he sees in the Eastern Asia in particular Japan, Korea, and China. Jayant also shares the important distinction that third world economies are not emerging markets. With regards to Japan in particular, Jayant conveys why believes that Japan is currently the best society in the world today. In addition, Jayant shares how the Far East’s Confucius philosophies has had a very unique and distinctive affect on these cultures as opposed to other so called emerging markets. Mr. Bhandari will share his concerns regarding democracy and its duplicitous effects on countries. Lastly, we highlight an issuer that has garnered Jayant’s attention that he believes presents a unique value proposition.

www.jayantbhandari.com

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VIDEO

AUDIO

TRANSCRIPT

Maurice Jackson:
Welcome to Proven and Probable where we focus on metals, mining, and more. I’m your host Maurice Jackson. Joining us is Jayant Bhandari, the host of the highly acclaimed Capitalism and Morality and a prominent sought out advisor to institutional investors. Mr. Bhandari, welcome to the show.

Jayant Bhandari:
Thank you for having me, Maurice.

Maurice Jackson:
Jayant, when we last spoke in August, you conveyed your concerns regarding the future of the third world, which was a fantastic interview in which you highlighted your concerns about the third world. Jayant, you make the bifurcation between the third world economies and emerging markets. For someone new the conversation, please share the distinction.

Jayant Bhandari:
Sometime during the late 1980s or early 1990s, people changed the name of the third world countries into emerging markets. They started to think that something significant has shifted among these countries, which in their mind meant that the third world countries were no longer third world countries and they were emerging markets.

The reality, Maurice, is that nothing that they think might have changed has actually changed in these countries. The only exception I make from the third world countries is China but apart from China the third world countries were third world countries, they are third world countries, and every sign is that they will continue to be third world countries.

They are mostly tribal superstitious and irrational societies where the concept of reason hasn’t really made any impact and that is why these third world countries will continue to be third world countries and that can happen despite that economic progress is happening in these countries but economic progress without an enlightenment happening in the society is actually a very dangerous cocktail, which is the reason why instead of being optimistic and euphoric about the third world countries, I’m extremely pessimistic and scared about the future of the third world countries.

Maurice Jackson:
Jayant, you and I were talking offline about some of the virtues that you do see in East Asia and I want to focus our discussion there today. All too often when we hear discussions about Eastern Asia, there are almost always centric to China but is China really the leader or the follower?

Jayant Bhandari:
China is a follower but it’s a very good follower. Maurice, we often blame China for copying things. They copied this technology, they copied this patent or this copyright. The reality is that if copying were really all that easy, the Middle East and Africa and Latin America would have done exactly the same. Copying requires a huge amount of creativity and entrepreneurial spirit.

Now China has in their recent past followed Korea and Japan while they would very likely not admit to that. Maurice, I have recently been back from Japan. Japan is another one of the countries that is not likedby a lot of intellectuals. For whatever reason, until a lot of intellectuals whether they are on the left or whether they are on the right, do not like east Asia. They try to cherry pick problems from these societies.

In my view, the future of humanity is in East Asia. Japan by far in my view is the best society in the world today.

Maurice Jackson:
Now Jayant, I just want to pause there for a second. That was a very powerful statement you just made there. The future of humanity lies in East Asia.

Jayant Bhandari:
That’s right, Maurice. The kind of changes that I see happening in China and the kind of peace, security that prevails in Korea and Japan is unparalleled in the world. Now I know there’s a risk of North Korea there. I’m talking about peace within these societies. The almost complete lack of violence, preoccupation of law of order, rule of law in these countries is just very, very different from what exists outside these countries. Outside of other countries in the world.

Maurice Jackson:
Let’s talk about Korea. You mentioned them. How do they factor into this discussion?

Jayant Bhandari:
What happened basically is that Japan became a very developed country. Korea and China have followed Japanese culture, Japanese music, Japanese technologies, and there has been a huge amount of investment of Korean, Taiwanese, and Japanese companies into China. This is where these three countries work together. They have a very strong Confucius culture. There is often a blame imposed on these countries that they are not creative.

Now I go to China very often, Maurice, and one thing surprising has caught my eyes. You can go to smaller cities in China today and you will find three of four stories, bookshops, books selling, original books written in Chinese. Now you go to any other third world countries and you won’t find that. I haven’t seen that in Latin America, I haven’t seen it anywhere in the Middle East, or in South Asia. This is uniquely a Chinese thing.

You look at Japan, you travel in subways. When you travel in subways in the metros in Japan, you don’t hear any noise. People don’t talk with each other. They don’t use their cellphones. They are so conscious of civility, they are so conscious of other people, they are so mindful of other people that they make sure that even in crowded spaces, they pay enough respect to other people. This is so unique about East Asia.

Maurice Jackson:
Now let’s talk about China here. How does it fit into this narrative?

Jayant Bhandari:
What is happening in my view is that people focus too much on the government that rules China. I have talked with you many times in the past giving my opinion on what democracies mean. You see democracy in action in Venezuela, Brazil, Pakistan, Bangladesh, Myanmar. You can go on and on. Democracy has been an unmitigated disaster in the world. But because democracies are religion in the west, people want to impose what … Their views on what non democratic societies must be on China.

Now the reality is that China in my view is progressing, not only economically but culturally, and this cultural renaissance that is happening in China is what will underpin the future progress of China and this is why I think there is … The future of humanity is in China. Now how is China doing things? China looks up to what Koreans and Japanese do, so youngsters in China follow what is called K-Pop, Korean pop music and J-Pop, Japanese popular music. They watch Japanese and Korean shows on their TVs.

Now the reality is that a lot of other people look up to Europe and America. Chinese and Koreans in many, many ways look up to Japan, not to the west. They are picking up good qualities of Japanese cultures. The quality of mindfulness, which I just described. The quality of being honest. You can leave a bike, you don’t lock a bike in Japan anywhere. If you have a 16-year old daughter, you would not worry about her when she goes out at 2 o’clock in the night even if she decides to walk around the areas run by the Japanese mafia.

This is how safe Japan is and these are the good qualities of Japan that Korea has copied, and Koreans might not like my saying that but this is a good thing that they have done and this is what Chinese are copying. They’re copying good things from Korea and Japan. If you look at what’s happening in Latin America and South Africa and South Asia, this isn’t what’s happening. They have mostly copied bad stuff from the western society.

Maurice Jackson:
How does China and its procurement of gold influence this discussion?

Jayant Bhandari:
China was a very closed economy almost completely closed until the 80s. Chinese are not internationalized, Maurice. We see a lot of Chinese tourists and Chinese local residents in the western countries today, but virtually all of these Chinese have migrated to the west in the last one or two decades. Chinese are among the least internationalized people in terms of population and in terms of international diversification of money.

When Chinese are buying gold, they’re pretty much buying gold for the first time. They did not have gold in the past, so this is a diversification … Diversifying their wealth outside China and Chinese are trying to buy properties and move out of China as well, which is a very natural process. I don’t correlate the reason why they are doing all these things necessarily with a possible collapse of China, which is what a lot of people in the international media assume is going to happen in China.

Now that might happen. I’m not saying it can’t happen but China is still more than 95% Han people. It’s a very stable jurisdiction in many ways and so is the case with Korea and Japan. Again, I’ll repeat myself, I see the future of humanity in East Asia.

Maurice Jackson:
Switching gears onto issuers. Jayant, are they any arbitrage opportunities that have your attention at the moment?

Jayant Bhandari:
Nothing in terms of arbitrage, Maurice, but I was recently in Japan visiting the projects of Irving Resources, the ticker is IRV. This is a company run by a Japanese Canadian lady Akiko Levinson and she did a fabulous job in Canada running a company in Canada and now she is trying to develop projects in Japan after she tried developing projects in Africa. In my view, she has fabulous projects in Japan and the next four or five winter months are not likely going to be months when they will do news releases. This might be an opportunity for those who are interested in this company to pick up some shares.

Maurice Jackson:
Before we close, can you please share where and when you’ll be speaking next?

Jayant Bhandari:
I’m speaking at Minds and Money in London and that will be end of November 2017.

Maurice Jackson:
Jayant, if someone listening wants to get more information about your work, please share the website.

Jayant Bhandari:
JayantBhandari.com. Everything I do goes on that website.

Maurice Jackson:
Can you give us an update as well on the dates for Capitalism and Morality?

Jayant Bhandari:
Capitalism and Morality is a philosophical seminar that I have run for the last eight or nine years, Maurice, and it will be held on the 21st of July 2018 in downtown campus of Simon Fraser University in Vancouver, Canada.

Maurice Jackson:
I had an amazing experience the last two years and I’m looking forward to attending again this year, so thank you for sharing that as well.

Jayant Bhandari:
We will love to have you there, Maurice.

Maurice Jackson:
Look forward to it. Last but not least, please visit our website, www.ProvenandProbable.com where we interview the most respected names in the natural resource space. You may reach us at [email protected]. Jayant Bhandari, the host of Capitalism and Morality. Thank you for joining us today on Proven and Probable.

Jayant Bhandari:
Thank you very much for the opportunity, Maurice.

Maurice Jackson:
All the best, sir.

Proven & Probable

Maurice Jackson

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