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Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.If that is your solution, it isn't much of one. All it will do is enrich a few connected firms and individuals, as it does in China.The thing is, what is the right way?I would think that most Americans are for free trade between nations. The thing is, is it free when many of our trading partners impose stiff rules, regulations, and tariffs on American products, but our corrupt government allows them free access to the US market?
I can recall reading in the WSJ back in the late 80s, that Japan put very tough rules and tariffs on US made cars. As a result, GM sold a hand full of cars in Japan. Yet, Japan sold a shit load of cars in the US, which had no tariffs. This has been going on for decades.
How is this fair?
I totally agree.
However I don't think Trump's way of dealing with it is the right way.
China isn't going to be bullied. You tell China "we're going to beat you" China will do everything it can to save face.
America has the ability to understand China, but chooses not to.
Prior administrations have tried various methods of dealing with China, without success. I suspect China did not think any American POTUS would do what Trump is doing. I do not see another way of resolving the issue. In the short term, it could be painful.
Well, first you have to understand China.
China is two things.
1) They love money.
2) They will do everything possible not to lose face.
Now, imagine the US did to China, what China does to the US. That'd be a lot harder for the Chinese to fight back at.
Make all Chinese companies in the US have a partner, a US company that'll leech off the Chinese companies.
If the US market is entirely open to Chinese goods, than why would the Chinese not reciprocate? You seem to think that our government should treat them as they treat our companies. Why would the Chinese government not treat US goods as the US treats Chinese goods?
Well there's a problem right.
You either swallow your pride and deal with the situation that will cause problems, or you cause problems.
The Chinese love to make problems. It's in the DNA.
You can either accept that, or not. But understanding the Chinese is the ONLY way you're going to solve this.
Why would the Chinese govt not treat US goods as the US treats Chinese goods?
Because it doesn't have to.
Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.If that is your solution, it isn't much of one. All it will do is enrich a few connected firms and individuals, as it does in China.The thing is, what is the right way?I totally agree.
However I don't think Trump's way of dealing with it is the right way.
China isn't going to be bullied. You tell China "we're going to beat you" China will do everything it can to save face.
America has the ability to understand China, but chooses not to.
Prior administrations have tried various methods of dealing with China, without success. I suspect China did not think any American POTUS would do what Trump is doing. I do not see another way of resolving the issue. In the short term, it could be painful.
Well, first you have to understand China.
China is two things.
1) They love money.
2) They will do everything possible not to lose face.
Now, imagine the US did to China, what China does to the US. That'd be a lot harder for the Chinese to fight back at.
Make all Chinese companies in the US have a partner, a US company that'll leech off the Chinese companies.
If the US market is entirely open to Chinese goods, than why would the Chinese not reciprocate? You seem to think that our government should treat them as they treat our companies. Why would the Chinese government not treat US goods as the US treats Chinese goods?
Well there's a problem right.
You either swallow your pride and deal with the situation that will cause problems, or you cause problems.
The Chinese love to make problems. It's in the DNA.
You can either accept that, or not. But understanding the Chinese is the ONLY way you're going to solve this.
Why would the Chinese govt not treat US goods as the US treats Chinese goods?
Because it doesn't have to.
If China refuses to play fair, then the only option is to do what Trump is doing.
Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.If that is your solution, it isn't much of one. All it will do is enrich a few connected firms and individuals, as it does in China.The thing is, what is the right way?
Prior administrations have tried various methods of dealing with China, without success. I suspect China did not think any American POTUS would do what Trump is doing. I do not see another way of resolving the issue. In the short term, it could be painful.
Well, first you have to understand China.
China is two things.
1) They love money.
2) They will do everything possible not to lose face.
Now, imagine the US did to China, what China does to the US. That'd be a lot harder for the Chinese to fight back at.
Make all Chinese companies in the US have a partner, a US company that'll leech off the Chinese companies.
If the US market is entirely open to Chinese goods, than why would the Chinese not reciprocate? You seem to think that our government should treat them as they treat our companies. Why would the Chinese government not treat US goods as the US treats Chinese goods?
Well there's a problem right.
You either swallow your pride and deal with the situation that will cause problems, or you cause problems.
The Chinese love to make problems. It's in the DNA.
You can either accept that, or not. But understanding the Chinese is the ONLY way you're going to solve this.
Why would the Chinese govt not treat US goods as the US treats Chinese goods?
Because it doesn't have to.
If China refuses to play fair, then the only option is to do what Trump is doing.
Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.If that is your solution, it isn't much of one. All it will do is enrich a few connected firms and individuals, as it does in China.Well, first you have to understand China.
China is two things.
1) They love money.
2) They will do everything possible not to lose face.
Now, imagine the US did to China, what China does to the US. That'd be a lot harder for the Chinese to fight back at.
Make all Chinese companies in the US have a partner, a US company that'll leech off the Chinese companies.
If the US market is entirely open to Chinese goods, than why would the Chinese not reciprocate? You seem to think that our government should treat them as they treat our companies. Why would the Chinese government not treat US goods as the US treats Chinese goods?
Well there's a problem right.
You either swallow your pride and deal with the situation that will cause problems, or you cause problems.
The Chinese love to make problems. It's in the DNA.
You can either accept that, or not. But understanding the Chinese is the ONLY way you're going to solve this.
Why would the Chinese govt not treat US goods as the US treats Chinese goods?
Because it doesn't have to.
If China refuses to play fair, then the only option is to do what Trump is doing.
Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.If that is your solution, it isn't much of one. All it will do is enrich a few connected firms and individuals, as it does in China.
If the US market is entirely open to Chinese goods, than why would the Chinese not reciprocate? You seem to think that our government should treat them as they treat our companies. Why would the Chinese government not treat US goods as the US treats Chinese goods?
Well there's a problem right.
You either swallow your pride and deal with the situation that will cause problems, or you cause problems.
The Chinese love to make problems. It's in the DNA.
You can either accept that, or not. But understanding the Chinese is the ONLY way you're going to solve this.
Why would the Chinese govt not treat US goods as the US treats Chinese goods?
Because it doesn't have to.
If China refuses to play fair, then the only option is to do what Trump is doing.
Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.Well there's a problem right.
You either swallow your pride and deal with the situation that will cause problems, or you cause problems.
The Chinese love to make problems. It's in the DNA.
You can either accept that, or not. But understanding the Chinese is the ONLY way you're going to solve this.
Why would the Chinese govt not treat US goods as the US treats Chinese goods?
Because it doesn't have to.
If China refuses to play fair, then the only option is to do what Trump is doing.
Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes...let's try to understand the Chinese. Also, they need to understand us. It has to be a two way street, for it to be fair.
If China refuses to play fair, then the only option is to do what Trump is doing.
Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
Ok, so our traitorous CEO's here are the real culprits, and China is being used by them in order to screw the Americans over ???? Are we being robbed by our own, and we are blaming China by making them the fall guy who of course will take advantage of the situation in which they have no respect for, and all because they see us crapping over on our own in the ways that we do ???Oh yeah? What? Let them keep robbing us blind?Yes, China cheats on trade.
The problem is Trump is supposed to be a guy good at deals. He hasn't exactly succeeded has he?
There are much better ways to deal with China than to go into a war with them.
'Robbery
The taking of money or goods in the possession of another, from his or her person or immediate presence, by force or intimidation.'
robbery
Care to tell us all EXACTLY how what China is doing is 'robbery'?
What China does is demand that companies have a Chinese partner in order to be able to work in China.
For example Ford is Changan Ford Mazda. It produces US and Japanese cars inside of China. This makes them cheaper than importing them.
However Changan gets to know all of Ford's and Mazda's secrets that they'll use.
It happens a lot.
I realize that...but it is common knowledge PLUS is not done through 'force or intimidation' and thus does not fall under the definition of 'robbery'. Ford knows what will happen when they go to China. But they obviously feel it is worth it or they would not bother doing it.
What China does is wrong...but it is not robbery.
And Trump's way of trying to stop it - as Larry Summers said in the video - is NOT the way to do it. Trump is just shooting America in the foot by attacking EVERYONE with tariffs...instead of just focusing on China.
Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
Agree with most of that, but clearly China has harmed our economy. Fareed stated 30% of US manufacturing is shuttered due to China. That is a lot of good jobs in middle America, no longer here.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
There are lots of alternatives. As stated by Summers in the OP video..the trade imbalance between China and the world has already come down by about 80% simply through diplomacy in (I believe it was) less than 20 years. There is no reason to believe that it will not come down the rest of the way using the same means.
Besides, American consumers benefit HUGELY from cheap, Chinese imports. They save more money that they can spend on other goods/services. And these extra goods and services employ Americans who would otherwise not be.
Please remember, the official unemployment rate is only 4%. It's not like unemployment is rampant...it's minuscule.
Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Do they?
The issue here is that the US is not a growing market. China is.
US companies know it's important to get into the Chinese market. How many Chinese companies are going to really get into the US market? The US market is far more competitive and developed.
This is the problem with the whole situation.
No, the only option is not what Trump's doing.
China doesn't have to give in. China actively prevents its economy from going too fast. So, some companies will suffer from this, other companies will then do better as China loosens restrictions to make the economy do better.
China will simply look to other markets for those goods. India is a neighbor and developing country that would like cheap goods. China's capacity to produce is no where near being reached. Also its ability to sell is no where near being reached either.
Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
Agree with most of that, but clearly China has harmed our economy. Fareed stated 30% of US manufacturing is shuttered due to China. That is a lot of good jobs in middle America, no longer here.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
There are lots of alternatives. As stated by Summers in the OP video..the trade imbalance between China and the world has already come down by about 80% simply through diplomacy in (I believe it was) less than 20 years. There is no reason to believe that it will not come down the rest of the way using the same means.
Besides, American consumers benefit HUGELY from cheap, Chinese imports. They save more money that they can spend on other goods/services. And these extra goods and services employ Americans who would otherwise not be.
Please remember, the official unemployment rate is only 4%. It's not like unemployment is rampant...it's minuscule.
So, while Americans benefit from cheap goods from China, this is not without negative consequences.
I do not agree. China is obviously not playing fair. This must stop.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Agreed, but it means nothing to our discussion.
If China wants to sell their products in the WORLD'S LARGEST MARKET, then they should trade fairly. You seem to discount the fact that the US is still the largest market in the world. If China were to lose access to the US market today, tomorrow they are in a major economic recession or depression.
Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
The problem is their idea of harming the economy and your idea might be different. For them, the economy is long term. Harm for them is boom and bust. For the US this is the order they like.
China is soon going to be very strong, and very rich. The issue for the US is, do they want a slice of the pie or not. The US has a lot of people for whom money is number one.
Forget human rights, money rules.
Agreed but China doesn’t just make shit things. Secondly, they are not trading fairly.Agree with most of that, but clearly China has harmed our economy. Fareed stated 30% of US manufacturing is shuttered due to China. That is a lot of good jobs in middle America, no longer here.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
There are lots of alternatives. As stated by Summers in the OP video..the trade imbalance between China and the world has already come down by about 80% simply through diplomacy in (I believe it was) less than 20 years. There is no reason to believe that it will not come down the rest of the way using the same means.
Besides, American consumers benefit HUGELY from cheap, Chinese imports. They save more money that they can spend on other goods/services. And these extra goods and services employ Americans who would otherwise not be.
Please remember, the official unemployment rate is only 4%. It's not like unemployment is rampant...it's minuscule.
So, while Americans benefit from cheap goods from China, this is not without negative consequences.
The problem is the US shouldn't be competing to make shit things. The US has money to have an educated workforce that produce things of quality that make people richer.
Shit things make the boss rich.
Quality things make everyone rich.
Very interesting video. I suggest watching it in it's entirety.
Normally, I am NOT a fan of Larry Summers...but generally I agree with him here.
I do not agree. China is obviously not playing fair. This must stop.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
The problem is their idea of harming the economy and your idea might be different. For them, the economy is long term. Harm for them is boom and bust. For the US this is the order they like.
China is soon going to be very strong, and very rich. The issue for the US is, do they want a slice of the pie or not. The US has a lot of people for whom money is number one.
Forget human rights, money rules.
We shouldn’t have to cowtow to them, just because they have a huge market.
I do not agree. China is obviously not playing fair. This must stop.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
The problem is their idea of harming the economy and your idea might be different. For them, the economy is long term. Harm for them is boom and bust. For the US this is the order they like.
China is soon going to be very strong, and very rich. The issue for the US is, do they want a slice of the pie or not. The US has a lot of people for whom money is number one.
Forget human rights, money rules.
We shouldn’t have to cowtow to them, just because they have a huge market.
Agreed but China doesn’t just make shit things. Secondly, they are not trading fairly.Agree with most of that, but clearly China has harmed our economy. Fareed stated 30% of US manufacturing is shuttered due to China. That is a lot of good jobs in middle America, no longer here.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
There are lots of alternatives. As stated by Summers in the OP video..the trade imbalance between China and the world has already come down by about 80% simply through diplomacy in (I believe it was) less than 20 years. There is no reason to believe that it will not come down the rest of the way using the same means.
Besides, American consumers benefit HUGELY from cheap, Chinese imports. They save more money that they can spend on other goods/services. And these extra goods and services employ Americans who would otherwise not be.
Please remember, the official unemployment rate is only 4%. It's not like unemployment is rampant...it's minuscule.
So, while Americans benefit from cheap goods from China, this is not without negative consequences.
The problem is the US shouldn't be competing to make shit things. The US has money to have an educated workforce that produce things of quality that make people richer.
Shit things make the boss rich.
Quality things make everyone rich.
I do not agree. China is obviously not playing fair. This must stop.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
The problem is their idea of harming the economy and your idea might be different. For them, the economy is long term. Harm for them is boom and bust. For the US this is the order they like.
China is soon going to be very strong, and very rich. The issue for the US is, do they want a slice of the pie or not. The US has a lot of people for whom money is number one.
Forget human rights, money rules.
We shouldn’t have to cowtow to them, just because they have a huge market.
Shouldn't have to, but the future is bleak and the US will be doing a lot of bending down to China.
Get used to it.
I do not agree. China is obviously not playing fair. This must stop.Okay...but the Chinese do not want their economy harmed. They have a huge population that needs employment.I don't agree that China can suffer more successfully than the US. Their economy is built on foreign trade, much of it with the US. Take that away and they will nose dive.Yes it is.
The point I made was that China can afford to suffer part of the US's market.
The US on the other hand is going to find it a little more difficult.
If the economy takes a nosedive, who's going to suffer more?
The unelected CCP with no elections, or Trump with November and then re-election in 2 years time?
China Exports | 1983-2018 | Data | Chart | Calendar | Forecast | News
Yes, it is built on foreign trade.
They have an increase of 12.6% rise in trade every year.
They have $212 billion a month of exports.
$39.3 billion goes to the US.
$33.6 billion to the EU
$28.6 billion to ASEAN countries.
$11.9 billion to Japan
Now, the US makes about 15% of its exports. Take out the US and it'll hurt, but it'll take them back about a year and a half.
The tariffs are going to put 10% of a lot of goods, supposedly $200 billion worth of goods which appears to be a little less than half the goods.
But that won't impact the other 85% of exports. Chinese goods might still be cheaper than US made goods even with tariffs.
But all it will do is slow down the Chinese economy. It won't make it go in reverse at all. It'll still be growing.
And, as I've said, the Chinese govt has done a lot to reduce the economy in the past. It can do things to speed it up again.
At any rate, there is no alternative. If they refuse to trade fairly and they do, the only alternative is to match their rules, regulations, and tariffs they place on US goods, on their goods sold in the US.
The problem is their idea of harming the economy and your idea might be different. For them, the economy is long term. Harm for them is boom and bust. For the US this is the order they like.
China is soon going to be very strong, and very rich. The issue for the US is, do they want a slice of the pie or not. The US has a lot of people for whom money is number one.
Forget human rights, money rules.
We shouldn’t have to cowtow to them, just because they have a huge market.
