504 | America is Fading, Europe is a "Theme Park": The Multipolar Reality | TBT

Welcome back to Thought Behind Things. The global supply chain is experiencing a synchronized heart attack. With the Middle East conflict threatening to close the Strait of Hormuz, 20% of global oil and 50% of the world's urea are effectively offline. For decades, our survival strategy has been neutrality—but neutrality is a luxury you can only afford in a unipolar world, and that world is dead. It is only a matter of time before emerging markets are forced to choose a side.In this episode, Javed Hasan (Former Chairman of the Economic Advisory Group) dismantles the structural hubris of the state. We discuss the myth of the "China Model," why the exact same 10 conglomerates have controlled the local economy for 40 years, and how the West is rapidly turning into a "Disneyland" tourist center while China builds the AI-driven industrial factories of the future. Finally, we break down the grim reality of the "Bust-Flatline-Bust" cycle, and why recent pushes to deregulate real estate might just be the elite searching for exit liquidity before the crash.