Dr Huang is a wise man, naturally competent with Chinese values and Western know how. Thank you for sharing your thoughts so candidly and eloquently. Thank you to World Affairs and UA-cam.
The best analyst that can be found on the internet so far. Prof Huang has very deep understanding about both China and the US and be able to articulate the problem, the differences and how to close the gap between the two countries. I hope both China and the US economist and policy maker will have the chance to watch this video or read his book to find a way to close the gap between the two nations.
What a great scholar! Thanks, Dr. Huang! American should not feel fearful of China rise. Time to innovate own economy and politics, and stay energetic and competitive. That is the best way forward.
china loves US and canada because their children are the gold mountain. since 1848 china still wants to go to US. I love america I went to Berkeley. go US do china Yukon you sound like I love america> let us work it out
You must also know how the communist function...how CCP dealt with the rising of falung gong and during tinnamen square...how CCP treated the Tibetan and ughur Muslim...how pro Democrat in China are treated and how is lui xiabo treated by CCP...you should always look from all. Side
Hitting hard and making sure china's down is the way forward. Look at what's happening in SCS, This PhD Huang just skirted the question. Kick china out of SCS then the world talks. Otherwise screw china and mainland chinese.
Wow! Yukon is a real good Economist. He analysed and explained every area so well in an unbiased view. Looks like China is not the problem as the US always accused her of. The many problems is due to their fear of dropping a notch down and their own doing.
I don't dispute that he's an intellectual powerhouse. But I note that most of what he says is after the style of: 'current wisdom is that this is the case: 'X' - but if we check the figures we find this is the case: 'Y' Now you don't have to be an intellectual powerhouse to do that, do you? Check the figures? Yet he sits in a room full of confessed 'experts', he tells them they're the experts and they don't dispute it, and yet he has to point out these things to them. So it is obvious the 'experts' just aren't doing their job. Aren't even doing an apprentice's job. And obviously, then, neither are the President's advisers, nor the advisers for the opposing political party/parties. Nor the pundits, nor the gurus, nor the 'probing investigative' journalists.... Not anyone. So is it really the case that everyone - literally everyone, virtually - is so remiss, so stupid, so unobservant - or is he like Sowell is nowadays (I find here and there) supposed to be - a thoroughly convincing explainer but, nevertheless, wrong ?
@Jason Jean Actually, Yukon Huang sounds like an ignorant moron, a paid Chinese shill, or just a liar. He is only looking at the short term effects of a trade war. Trump is looking at the long term. In the long term, the US would be the winner. Yukon also doesn't seem to realize that China has been waging a trade war against the US for decades. It's been a one sided trade war. China has benefited greatly from it. China has grown by leaps and bounds and has become the world's largest manufacturing country in the world, surpassing the US. So don't tell me trade wars have no winners.
I totally disagree with this guy! the US-China Trade War is never about trade, never about trade deficit! it is about the national security of America and world peace! In the past two decades, we see "China peaceful rise" and how peaceful they threaten their neighbors' countries We see China is building artificial islands in the South China Sea, and installs weapons on them... We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force. We see how much money they print without almost no supervision and overflow their inflation to the world... and almost no one can stop them no one can stop the Chinese government's behaviors not by Vietnam, not by the Philippines ... not even stopped by its own people! I don't worry about the rise of China I worry about the rise of an authoritarian regime! there are no true winners in war! there are always have casualties during wartime the worst peace is better than the best war But there are still have something worth fighting for! It is not about subsidies and it beyond justice It's about good and evil We should stop it while we have a chance, before its too late before we go into a real war! My best wish to Chinese people!
I totally disagree with this guy! the US-China Trade War is never about trade, never about trade deficit! it is about the national security of America and world peace! In the past two decades, we see "China peaceful rise" and how peaceful they threaten their neighbors' countries We see China is building artificial islands in the South China Sea, and installs weapons on them... We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force. We see how much money their print without almost no supervision and overflow their inflation to the world... and almost no one can stop them no one can stop the Chinese government's behaviors not by Vietnam, not by the Philippines ... not even stopped by its own people! I don't worry about the rise of China I worry about the rise of an authoritarian regime! there are no true winners in war! there are always have casualties during wartime the worst peace is better than the best war But there are still have something worth fighting for! It is not about subsidies and it beyond justice It's about good and evil It should be stopped while there is a chance, before its too late before we go into a real war! My best wish to Chinese people!
It is the time I listen to your descriptions. I am understanding more and more about what is going on between the US and China. I am following you to gain more knowledge on this crucial issue. Good luck mr. Yukon Huang
On the topic of subsidies; The US does a lot more to subsidise its industry than just the state bribes and tax incentives he describes. A very large part of the defence budget, as well as NASA and DARPA are effectively direct subsidies to high-tech and manufacturing. Then you have agriculture. The US complaining about other countries' subsidies is completely hypocritical.
I totally disagree with this guy! the US-China Trade War is never about trade, never about trade deficit! it is about the national security of America and world peace! In the past two decades, we see "China peaceful rise" and how peaceful they threaten their neighbors' countries We see China is building artificial islands in the South China Sea, and installs weapons on them... We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force. We see how much money their print without almost no supervision and overflow their inflation to the world... and almost no one can stop them no one can stop the Chinese government's behaviors not by Vietnam, not by the Philippines ... not even stopped by its own people! I don't worry about the rise of China I worry about the rise of an authoritarian regime! there are no true winners in war! there are always have casualties during wartime the worst peace is better than the best war But there are still have something worth fighting for! It is not about subsidies and it beyond justice It's about good and evil We should stop it while we have a chance, before its too late before we go into a real war! My best wish to Chinese people!
In China change is continuous, right from the days of most revered Chairman Mao. The Chinese leadership continuously reviews/revises its policies in light of results. They welcome criticisms/self-criticisims, and acknowledge their mistakes, do corrections well in time, to avert bigger losses. In contrast American politicians try to put blame on others, brush their follies under the carpet, till house cleaning by succeeding government uncovers the mess left behind ! Whereas prompt corrective action could have solved the situation, albeit, with little pain.
@@MegaWarell Well, that's why i source information from forums and speeches like these, not from mainstream medias where the host keeps talking over the guests.
china will come after india soon.don't you worry. the two countries still has unsettled biz. This time china will march into new delhi and I hope you will welcome that with open arms.
Yukon Huang makes some really good points on the limits of a trade war. Apple I-Phone conundrum is a good case. IF it were made in the USA, with current manufacturing technology, it would probably retail at double the current price....and that's if you could find the workers. I heard Steve Jobs (RIP) address this years back...he wanted to build Apple products in the USA...his dream was to create a manufacturing juggernaut in the USA but concluded we didn't have enough right-skilled employable people to pull it off. Jobs instead focused on product design in the USA and software and apps. I-tunes, Apps etc. Can't disagree with his decision.
Obama also tried to bring back the Apple job to the US. But he can't, because the suppliers are all in China within the proximity of the factory and the workers stay in the factory dorm, and they can be asked to work anytime, including at the middle of the night.
YK is very articulate n directly addresses the issues without to much unnecessary words.... What a mess! As A Canadian LGBTQ WORLD CITIZEN, UNIVERSAL SPIRITUAL TEACHER AND MULTIDISCIPLINARY ARTISTS INTERNATIONAL am an advocate, proponent and encouraging of good, harmonious and peaceful SINO-NORTH AMERICAN RELATIONS! Let us together find SOLUTIONS TO ATTAIN PEACE, SECURITY AND PROSPERITY WORLDWIDE!
Why do Americans even think people like Steve was stupid? You think he is less patriotic than any AMerican? Americans consumers, stock market, money all benefit and still good to blame China.
@@adrianhdragon718 Don't be simple and naive.... We call it a "fallacy of division"... When DT has his base of voters (mainly "loss outs" of global trade, universalism), he can do what ever he likes..... That was how Napolean and Hilter came to power....
Apple could just pay the higher wages out of the $400 profit it makes on each iPhone instead of giving it to the shareholders or some billionaire who already has more than he can use.
I think both the US and the Chinese leader should take a look at what Dr. Huang has said here. It is a common sense that trade war is only leading to a lose-lose situation, then why are there so many people from both sides calling for conflict? To further the question: everybody knows that open collaboration and peaceful diversity are the only ways to truly lift up human civilization and solve some serious global issues like climate change and pandemics in today’s world, then why are conservatism、populism and extreme nationalism gaining more and more influence in many places across the world ( UK, US, China...) today? I think these are the fundamental questions that we really need to address. After all, no one would want the world's #1 and #2 economy and over 17bl people to keep wrestling and thus "ring the world's doomsday bell", right? I think Dr. Huang here has shared a very interesting perspective to that matter.
Beyond the kind of economic rationalism and even-minded which Mr. Huang exemplifies with such confidence, there is also the question of the political will of a country, which is implicit in a country's culture, history or collective experience. It is impossible to separate economics from the history of a country, but a self-respecting economist isn't always willing to make that kind of statement in public, especially when some countries are threatening others with a nuclear war.
The real reason for Trump is to carry the value of dollar currency by using trade as one of the instrumentals. The trade war is not a real trade war, it is the media terminology increase sale. The public confused because of too many bad media. In fact, the tariff hurts American buyers and consumers, especially the low income who depended on food stamp and Walmart. Mr.Huang is right and understanding of China and culture. IT should transfer to the poor country because we all copying and learning from each other for centuries.
btw, 80% of chinese are employed by private industry. the output of private industries in china accounts for over 65% of its GDP. the state in china is not as dominant as western people think.
The other reason is the USDollar is d world reserve currency . US just issues worthless fiat currency USD to “ pay “ for imports. Causes huge trade deficit as it does not cost any resources to import, just issue paper. This is called the “ Triffin Effect.”
Agree, any other country with similar economic matrices would have been declared bankrupt a decade ago, prompting devaluation, to increase exports, rise in interest rates, curtailment of government expenditure, reductions in subsidies/pensions, etc, usually prescribed by IMF/World Bank to the nations in such cases. But, America has been postponing harsh decisions by printing more dollars, taking on more government debt, and now under President Trump, engaged in trade tariff wars with many countries, pushing country to precipices from which recovery would be very painful to most of its' citizens, especially those living on marginal incomes.
The Trade 'War' is as futile as the 'War' on Drugs. Let the Corporations compete on a 'Level Playing Field'. It should be the duty of all States to be involved in the setting of International Stadards.
Excellent well thought responses without the subterfuge of political comments. The responses of Yukon Huang are well balanced. Thank you so much for sharing.
Why don't normal Americans go to check how many Wars US military has fought against other countries since 1999, Even a primary graduate can find the cause of fiscal deficit.
On iPhone profit: Apple spend billions, pays to people invest majority of their early life time to master on science,.Apple needs to keep more profit for them. What Chinese people can do, in theory , can be done by robots, but Chinese is welling to working at the cost lower than robot installment, it is a fair game of life. I can see，one day Chinese workers will cost more than robots for Apple, and Chinese people will not be needed anymore.
The uk and Europe has been willing to give intellectual property to the us that G’s called a transfer but there is very little transference from Europe and the uk: Aksum the americas took technologies from Germany at the end of the Second World War America is trying to impose their ideological position on China but are not willing to adopt the Chinese political position especially America is imperialist in the way they view African nations/operating policies that is more in line with China in that China is working on developing poor/undeveloped areas.
Except that America more than repaid Europe with massive loss of blood and treasure saving Europe from German militarism (WW1) and fascism (WW2), massive wealth transfers with the Marshall Plan, and a shield against the apocalyptic authoritarianism of the Soviet Union, in addition to the enormous US contribution to science and technology that has more than benefited Europe. That's worth way more than whatever worthless 19th century technology you are talking about. The US isn't perfect, but that's just lazy cynicism on your part. I love the Chinese people, but I'm afraid the totalitarian government that menaces those people has contributed far less to the growth and stability of international peace and prosperity that the US has, despite imperfections.
@@lesoleil1195 american science and technology has been achieved by brain drain from the rest of the world. So why not get back some of that brain drain?
WHY Europe does not have such a large deficit with China (compared to the US) is because Europe, unlike the USA, have industrial policies which more tightly regulate imports and exports, Huang is wrong to say it is due to European balance of payments and budget deficits- that's simply not the case across the board- it could be for Germany for example, but not Italy, Greece, Spain...who all have huge budget deficits.
You don't know anything and you believe Huang is wrong ! Europe does not regulate imports and exports. Greece has a budget surplus. The "huge" Italian and Spanish budget deficits are quite modest at 1.7% and 2.7% when compared with the US at 3.9%.
Knowledge seen to naturally go from rich countries to poor ones. This has been going on since we are here on earth. We have always been stealing from each other.... So what's this big issue between China and the US...?
Had this issue with Japan in the sixties. Problem solved by having Japanese building factories in NA. Problem subsidies of failing American Car companies.
Very interesting to see from Yukon’s perspectives. However Trump is focused reducing trade deficit i.e. to sell more to China which will help US’s economy. If he just does this, either China will incur an overall trade deficit or other countries will. This will also mean countries that traditionally export goods (energy and agriculture) to China will lose business. Trade flows is a zero-sum game.
I totally disagree with this guy! the US-China Trade War is never about trade, never about trade deficit! it is about the national security of America and world peace! In the past two decades, we see "China peaceful rise" and how peaceful they threaten their neighbors' countries We see China is building artificial islands in the South China Sea, and installs weapons on them... We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force. We see how much money their print without almost no supervision and overflow their inflation to the world... and almost no one can stop them no one can stop the Chinese government's behaviors not by Vietnam, not by the Philippines ... not even stopped by its own people! I don't worry about the rise of China I worry about the rise of an authoritarian regime! there are no true winners in war! there are always have casualties during wartime the worst peace is better than the best war But there are still have something worth fighting for! It is not about subsidies and it beyond justice It's about good and evil It should be stopped while there is a chance, before its too late before we go into a real war! My best wish to Chinese people!
Much of U.S potential economic investment for subsidies or infrastructure for growth is diverted into the military used to push global hegemony. Barrel of a gun global economics to maintain an empire and balance reserve currency status of the dollar with internal monetary policy is a tricky balancing act and then dealing with China which has aspirations and invests more strongly in itself is gonna be challenging.
What a mess! As A Canadian LGBTQ WORLD CITIZEN, UNIVERSAL SPIRITUAL TEACHER AND MULTIDISCIPLINARY ARTISTS INTERNATIONAL am an advocate, proponent and encouraging of good, harmonious and peaceful SINO-NORTH AMERICAN RELATIONS! Let us together find SOLUTIONS TO ATTAIN PEACE, SECURITY AND PROSPERITY WORLDWIDE!
Nobody's fool. Everybody knows this trade war is about PAX America. I don't understand why these well educated, well renowned scholars are avoiding this issue on purpose.
Yes, you're right. I totally disagree with this guy! the US-China Trade War is never about trade, never about trade deficit! it is about the national security of America and world peace! In the past two decades, we see "China peaceful rise" and how peaceful they threaten their neighbors' countries We see China is building artificial islands in the South China Sea, and installs weapons on them... We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force. We see how much money their print without almost no supervision and overflow their inflation to the world... and almost no one can stop them no one can stop the Chinese government's behaviors not by Vietnam, not by the Philippines ... not even stopped by its own people! I don't worry about the rise of China I worry about the rise of an authoritarian regime! there are no true winners in war! there are always have casualties during wartime the worst peace is better than the best war But there are still have something worth fighting for! It is not about subsidies and it beyond justice It's about good and evil We should stop it while we have a chance, before its too late before we go into a real war! My best wish to Chinese people!
Dr. Huang misses some points. Europe uses their trade tarriff revenue, like what Trump is trying to do, to create internal spending on issues like infastructure. The US can play with trade a little without really hurting its economy.
It is a misrepresentation of reality to suggest that the standard of living in the USA has improved due to the production of low-cost goods in China. In reality, the standard of living in the West today isn’t much different from 25 - 40 years ago. If anything, it has deteriorated. The Chinese have benefitted far more from global trade than any nation in Western Civilization. I would suspect most Westerners would see that as a good thing.
'standard of living' is not an objective reality. It is a subjective assessment. Remove me from a crowded city, the fumes, the crowds, the noise, the whole thing, and I feel my standard of living has improved by orders of magnitude. Do the same thing to another man and he'll feel his standard of living has just dropped by orders of magnitude. And that latter man is in the majority these days, I think. I am in the minority. And that latter man has an iphone and the internet and online purchasing, online access to education and information so other things being equal I'd say those things are enough to count as enormous improvements in his 'standard of living'. But I won't argue it as an objective reality. I don't pretend that's what it is.
"American companies will profit from protectionism"?? What about the underemployed and unemployed working class!!?? THE grossest misstatement of the trade war so far. Abandoned and neglected by both sides of the political aisle. Thus the election of Trump and the rise of Bannon's populism. As a long time listener, huge disappointment on the World Affairs.
Really thoughtful discussion - or at least the attempt of - of issues and concerns from both sides - US and China - beyond the mainstream rhetoric of belligerence and finger-pointing. Size is a huge factor in all of this (because both US and China are so big, physically, culturally, economically, etc.) the amount of investments, the number of people, the intermediaries involved in doing all this business are monstrous, all this without having had an agreed, shared "power dynamic" between the two govts on what is effective communication of these issues is a travesty - that we haven't resorted to open war is almost a miracle! I do have faith that there are enough brains on both sides to recognize this for what it is - a system flaw to be labored through with equal care and consideration for both. Can we bridge this gap and build on a true "rule of law" society or blow ourselves up and return to law of the jungle?
Like your post, but , one word is, US 'culture' confounds me here, as in other several you tube discussions. Can you please expand on this subject, whenever you find time. Thanks
I totally disagree with this guy! the US-China Trade War is never about trade, never about trade deficit! it is about the national security of America and world peace! In the past two decades, we see "China peaceful rise" and how peaceful they threaten their neighbors' countries We see China is building artificial islands in the South China Sea, and installs weapons on them... We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force. We see how much money their print without almost no supervision and overflow their inflation to the world... and almost no one can stop them no one can stop the Chinese government's behaviors not by Vietnam, not by the Philippines ... not even stopped by its own people! I don't worry about the rise of China I worry about the rise of an authoritarian regime! there are no true winners in war! there are always have casualties during wartime the worst peace is better than the best war But there are still have something worth fighting for! It is not about subsidies and it beyond justice It's about good and evil It should be stopped while there is a chance, before its too late before we go into a real war! My best wish to Chinese people!
It’s clear this guy is on Chinese side.trade deficits causes highs domestic consumption in China in other words causing growth and better quality of life in China. The idea that America companies are hurting in China its good thing so they should be manufacturing here in theUS. In the long term benefit employment and goods affordability here in the state
Trade war negatively affects Chinese employment market, which in turn causes a lot of damages in the Chinese economic. China is a country that relies on imports of energy, food and other resources to sustain its current life style which Chinese people are getting used to in the last 40 years. Taking away these privileges is very likely to cause concerns about the legitimacy of CCP ruling.
vincchou CPU is a small portion of whole semiconductor industry. China import semiconductor’s value is more than oil, you know China is the largest oil consumption country in the world. So no matter if USA like, China will and already investigate this industry a lot. Especially when USA ban Chinese ZET company use USA’s IC. And based on what I read now, China has some good results. China almost dominate LCD market. And will dominate storage market soon. Huawei can design their own SOC and the performance is really good. But I still think USA has the most advance technology in the world. And it will take China quit a while to catch up.
Really? China would (rather the CCP) want to respect IP? What solar system is he living in? I feel like he may be trying to be “provocative” with his approach; however, on IP theft from what I’ve read and seen in action at my company... Yukon is not aligned with any sort of really. Perhaps I’m wrong
Pick up any three items in a hardware store and how many are made in China. Pick up any three items in an electronics store and ho many are made in China. We are the dumping grounds for cheap Chinese goods because we have lost our manufacturing base. I’ll pay more for American goods. We Ned to cut trade deficits and loss of technology. Trade is deficits and technology. What happens to China if trade is completely cut, no trade.
China will never be forced into giving any concessions of any kind, any form or in any way. How this could be even a hope on the American side, is beyond me.
Foreign companies doing business in China as a solo is doomed to fail because of complex social, cultural and governmental structures. It is impossible to navigate without a strong partner.
As an economist, Huang got basic data wrong, therefore his conclusion is wrong as well. Per US Census: China US trade deficit www.census.gov/foreign-trade/balance/c5700.html year 2000, -$83,833 mil, 2005, -$202,278 million, 2015, -$367,328 million, up to Oct. 2018, -$344,470million Chinese post 14-40% tariff on US goods, US average tariff 2.5%. China started trade war in 1990's, over the decades, it took bil. bil . bil. surplus. Central bank has to issue debts to cover the deficit. considering huge deficit, Chinese goods are not cheap, American pay big price for it. US national debts currently up to 22 Tril. which puts SSN, Medicare insolvency. zero tariff is the best way to keep trade balance in long term.
The moderator has failed to narrow the gap between the division in the American politics by not forwarding sharp and tough questions to Mr Huang who seems to act as a CCP lobbyist.
If China opens to US companies like Google, Facebook and So on, can Chinese companies compete and survive? And, Can China government maintain its political systems?
You forgot to mention Free Access to Information, i.e. UNRESTRICTED Internet. So, the answer to all of your questions is Of course, NO! That's why China talks about more "Openness", however, CCP sees this openness only One-Way, i.e. other countries should open more for Chinese Silent Invasion.
China give google and Fb chance before. And during that time still nobody use google cause google this world is so hard for Chinese to spell. And both company violate local laws later. Then Chinese gov can only ban these two company. Another example is Microsoft. China never ban this American company and msn never win tencent ‘s QQ
GOOGLE and FACEBOOK are really inconvenient to use, the UI, the logic...from someone who uses Google, FB and local internet services on a daily basis:P They won't win even weren't banned.
They refused to comply with their security requirements, and China wont trust them, as much as US dont trust hi-tech from Chinese. Even if they get in now, too late, UIs of G and F sucks. Have you seen UIs in Japan and China??
I don't agree Yukon Huang view. US buyers can get cheap product from China. But the buyers don't have jobs. Then what is the point of cheap products but buyers don't have money to buy. Make products in US will cost more But the buyers have jobs The buyers have money to purchase products
Poor China has to give up a tiny fraction of it's billions of dollars in revenue. The 80s were actually pretty good and stuff from China/Japan was expensive. Chinese giving up a bit of pocket change from them for a FAIR world. Greed has gone to peoples heads. It is absolutely terrifying that this Chinese guy is for greed over the good of the world. Horrific.
The consequence of the dollar hegemony is a huge trade deficit, because the United States needs to flood the world with a large amount of dollars, and other countries must use inexpensive commodities in exchange for dollars. Therefore, the U.S. manufacturing industry must be unable to compete and transfer to other countries. These are the deformed economic models caused by the greedy capital of the United States! In order to transfer contradictions, American politicians say that they have been caused by other countries, thus blocking trade in other countries! If the American people are still not aware of this issue clearly, then the United States will not really be great again! In fact, there is no absolute democracy in this world. This is just a game made by the capital group that fled from Europe to the United States in World War II. Democracy requires funds to run for elections, and it is about the capital group behind the official US government. And unlike China, they will not allow any capital to control this country, which is why Western capital wants to get the Asian market and fear the socialist countries! The Belt and Road Initiative is actually bypassing the maritime trade channel controlled by the United States, and Americans are certainly afraid! Just like the oil China renminbi, China's global industrial division of labor competitiveness is gradually approaching the United States! Therefore, the United States began to comprehensively curb China’s development. US hegemony does not allow any country to compete with the United States! Look at the war launched by the United States. You will understand the reasons for all this! Although the United States is a highly democratized country, behind the democratic government are controlled by large interest groups, such as arms and oil finance. This will inevitably drive the United States to use war and other means to maintain its dominance. This is why U.S. spending has not been used to build the United States. After all, China has experienced a history of 5,000 years of civilization. Looking back at the history of China, the dynasty that used force to dominate was often dying, and the history of the world was also reviewed. Therefore, China will not take the old road of the United States. China's One Belt and One Road is to link the Eurasian African continent with railways, so that it can form the world's largest trade market. The advantage is that it can be separated from the US sea route control. Once the largest world trade market is formed, the United States will be marginalized. The United States will no longer be the central force of the world, and the center of the world will return to Europe, Asia and Africa! This is why the United States is so afraid of the Belt and Road. And China has begun to compete with the United States in high-end manufacturing, so the United States has to do everything to kill China! Including political diplomacy, financial warfare, media public opinion warfare, biological weapons warfare, arms competition, and finally military warfare. In fact, let us review the history of the world and have a very clear answer. China is a country with a history of civilization of 4000-5000 years. If a country can exist for such a long time, then it must know how to rule the land. Since the World War II and the industrial revolution, the West has begun to become the center of the world, but it has only been two hundred years. Because the short sight of political gaze cannot rule the country for a long time, look at the Mongolian Empire. Historically, Many outside nations have invaded Chinese territory, but they will not rule for more than one hundred years. Because they only use force and no wisdom. Maybe technological force can be a leader in the world for a while, but it won't last long. The reason behind this is the political system! In the future, the United States will be difficult to compete with China at many levels, such as market size and demand and consumption levels, industry chain, talent pool, political system and reform capabilities.?
usa trade part of gdp is only 8 percent half of it is with mexico and canada ... china is he said 40 percent.... usa is food and energy self sufficient ... china is more over-leveraged and dependent on trade ... has worse demographic ... not food and energy self sufficient
He says that markets reacted positively to the truce of the trade war(hence its bad)....but hides the fact that when it was imposed, the US stocks rose compared to chinese.
Absolutely disagree with Yukon, he is extremely cunning with his analysis that it is due to individual government and not trade deficit problem. He said EU have trade surplus (partially funding by America’s trade and military protection), he said Communist China doesn’t have trade surplus, due to buying commodities and raw materials with Neighboring Asian countries like Japan and SouthEast Asia (that’s why China wants Malaysia so much) and capital flight flowing out from China, while America has trade deficit with China and the world. He said that China has strong productivity despite wage increased 7 fold and are higher than Vietnam, Malaysia, etc, and they invest in infrastructure of 45 percent of their budget, whereas America only invested in 17 percent. That doesn’t mean that America needs to offshore these manufacturing factories and jobs that are vital to key sectors for national security and national economic purposes - the strategy breakdown of key industries of present and future economy needs to be protected. He said that America has tremendous trade deficit with China from 1999 onwards (he never mentioned that as the result of WTO and MFN status), and the various geo-political alliance in exchange for the hollowing out of jobs and factories abroad. Yukon didn’t square well with the audience and he knows that. America has stupid incompetence leaders that negotiated on behalf of their corporate lobbyists and shareholders instead of America, and as the result, though it is TREMENDOUSLY at a disadvantage and disaster to America’s economy and national security, they do that (also, these incompetent politicians wanted Communist China to overtake America - they believe in the declining position of America).
If US has the same common sense and positif thinking as Yukon Huang, Americans and the rest of the world will live much more peacefully and happily...Hopefully Americans will wake up before the world becomes like hell !
why keep saying that china steal ip ? chinese already buy ips also some chinese just copy the brandname and sells to the real one. i think this is disgraceful!
Dr Huang is a wise man, naturally competent with Chinese values and Western know how. Thank you for sharing your thoughts so candidly and eloquently. Thank you to World Affairs and UA-cam.
The best analyst that can be found on the internet so far. Prof Huang has very deep understanding about both China and the US and be able to articulate the problem, the differences and how to close the gap between the two countries. I hope both China and the US economist and policy maker will have the chance to watch this video or read his book to find a way to close the gap between the two nations.
What a great scholar! Thanks, Dr. Huang! American should not feel fearful of China rise. Time to innovate own economy and politics, and stay energetic and competitive. That is the best way forward.
china loves US and canada because their children are the gold mountain. since 1848 china still wants to go to US. I love america I went to Berkeley. go US do china
Yukon you sound like I love america> let us work it out
You must also know how the communist function...how CCP dealt with the rising of falung gong and during tinnamen square...how CCP treated the Tibetan and ughur Muslim...how pro Democrat in China are treated and how is lui xiabo treated by CCP...you should always look from all. Side
Hitting hard and making sure china's down is the way forward. Look at what's happening in SCS, This PhD Huang just skirted the question. Kick china out of SCS then the world talks. Otherwise screw china and mainland chinese.
America should be afraid of itself
Stop using your credit first!
Wow! Yukon is a real good Economist. He analysed and explained every area so well in an unbiased view. Looks like China is not the problem as the US always accused her of. The many problems is due to their fear of dropping a notch down and their own doing.
Yukon Huang is an absolute intellectual powerhouse! It's too bad that the U.S. government doesn't listen to anything he has to say.
I don't dispute that he's an intellectual powerhouse. But I note that most of what he says is after the style of:
'current wisdom is that this is the case: 'X' - but if we check the figures we find this is the case: 'Y'
Now you don't have to be an intellectual powerhouse to do that, do you? Check the figures?
Yet he sits in a room full of confessed 'experts', he tells them they're the experts and they don't dispute it, and yet he has to point out these things to them.
So it is obvious the 'experts' just aren't doing their job. Aren't even doing an apprentice's job. And obviously, then, neither are the President's advisers, nor the advisers for the opposing political party/parties. Nor the pundits, nor the gurus, nor the 'probing investigative' journalists....
Not anyone.
So is it really the case that everyone - literally everyone, virtually - is so remiss, so stupid, so unobservant - or is he like Sowell is nowadays (I find here and there) supposed to be - a thoroughly convincing explainer but, nevertheless, wrong ?
Yukon is lying thru his mouth. He is a talking head with zero knowledge of how global trade works.
@Jason Jean
Actually, Yukon Huang sounds like an ignorant moron, a paid Chinese shill, or just a liar. He is only looking at the short term effects of a trade war. Trump is looking at the long term. In the long term, the US would be the winner. Yukon also doesn't seem to realize that China has been waging a trade war against the US for decades. It's been a one sided trade war. China has benefited greatly from it. China has grown by leaps and bounds and has become the world's largest manufacturing country in the world, surpassing the US. So don't tell me trade wars have no winners.
I totally disagree with this guy!
the US-China Trade War is never about trade, never about trade deficit!
it is about the national security of America and world peace!
In the past two decades, we see "China peaceful rise"
and how peaceful they threaten their neighbors' countries
We see China is building artificial islands in the South China Sea,
and installs weapons on them...
We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force.
We see how much money they print without almost no supervision
and overflow their inflation to the world...
and almost no one can stop them
no one can stop the Chinese government's behaviors
not by Vietnam, not by the Philippines ...
not even stopped by its own people!
I don't worry about the rise of China
I worry about the rise of an authoritarian regime!
there are no true winners in war!
there are always have casualties during wartime
the worst peace is better than the best war
But there are still have something worth fighting for!
It is not about subsidies
and it beyond justice
It's about good and evil
We should stop it while we have a chance,
before its too late
before we go into a real war!
My best wish to Chinese people!
He's a chinese turncoat. Skin color cannot lie.
Wow, what an opened eye discussion of the trade war! Yukon Huang sorts out the complex things in a way that makes lots sense out of nonsense.
I totally disagree with this guy!
the US-China Trade War is never about trade, never about trade deficit!
it is about the national security of America and world peace!
In the past two decades, we see "China peaceful rise"
and how peaceful they threaten their neighbors' countries
We see China is building artificial islands in the South China Sea,
and installs weapons on them...
We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force.
We see how much money their print without almost no supervision
and overflow their inflation to the world...
and almost no one can stop them
no one can stop the Chinese government's behaviors
not by Vietnam, not by the Philippines ...
not even stopped by its own people!
I don't worry about the rise of China
I worry about the rise of an authoritarian regime!
there are no true winners in war!
there are always have casualties during wartime
the worst peace is better than the best war
But there are still have something worth fighting for!
It is not about subsidies
and it beyond justice
It's about good and evil
It should be stopped while there is a chance,
before its too late
before we go into a real war!
My best wish to Chinese people!
It is the time I listen to your descriptions. I am understanding more and more about what is going on between the US and China. I am following you to gain more knowledge on this crucial issue. Good luck mr. Yukon Huang
Great job! He does explain it well. My wife is Chinese and she’ll love to hear this.I never understood it until I heard him. Thank you Yukon.
Thank you UA-cam for bringing me Yukon Huang !!!
This is very informative. Unlike mainstream media
I enjoy his talk. He is very clear and precise in his explanation. His intellect and wisdom reminds me of the lare Lee Kuan Yew.
On the topic of subsidies; The US does a lot more to subsidise its industry than just the state bribes and tax incentives he describes. A very large part of the defence budget, as well as NASA and DARPA are effectively direct subsidies to high-tech and manufacturing. Then you have agriculture. The US complaining about other countries' subsidies is completely hypocritical.
Dr Yukon Huang, a true American Hero.
I totally disagree with this guy!
the US-China Trade War is never about trade, never about trade deficit!
it is about the national security of America and world peace!
In the past two decades, we see "China peaceful rise"
and how peaceful they threaten their neighbors' countries
We see China is building artificial islands in the South China Sea,
and installs weapons on them...
We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force.
We see how much money their print without almost no supervision
and overflow their inflation to the world...
and almost no one can stop them
no one can stop the Chinese government's behaviors
not by Vietnam, not by the Philippines ...
not even stopped by its own people!
I don't worry about the rise of China
I worry about the rise of an authoritarian regime!
there are no true winners in war!
there are always have casualties during wartime
the worst peace is better than the best war
But there are still have something worth fighting for!
It is not about subsidies
and it beyond justice
It's about good and evil
We should stop it while we have a chance,
before its too late
before we go into a real war!
My best wish to Chinese people!
hai ten holy fuck. You want WW3. Now fuck off seriously. How dump and poor are you for begging for ww3?
Why should China change? America should change.
In China change is continuous, right from the days of most revered Chairman Mao. The Chinese leadership continuously reviews/revises its policies in light of results. They welcome criticisms/self-criticisims, and acknowledge their mistakes, do corrections well in time, to avert bigger losses.
In contrast American politicians try to put blame on others, brush their follies under the carpet, till house cleaning by succeeding government uncovers the mess left behind ! Whereas prompt corrective action could have solved the situation, albeit, with little pain.
So they don’t become synonymous with evil.
@@hazelsomaya3287 Seems you know more than Trump. Thank you.
@@jasonbonne8608
My son has a pet mouse that has more active brain cells that Acting President tRump!
China should change and get rid of their communist system and set the people free!
moderator is very polite and doesnt interupt
hardly sees this in america nowadays
because the guest is making so much sense, moderator actually feels being educated himself!
A moderator usually does not interrupt in these types of forums and talks.
@@lyttlebee true, right on
It's scripted propaganda
@@MegaWarell Well, that's why i source information from forums and speeches like these, not from mainstream medias where the host keeps talking over the guests.
Yukon Huang is a genius and explains the whole trade deficit issue in a very simple but compelling manner
china will come after india soon.don't you worry. the two countries still has unsettled biz. This time china will march into new delhi and I hope you will welcome that with open arms.
Yukon Huang makes some really good points on the limits of a trade war. Apple I-Phone conundrum is a good case. IF it were made in the USA, with current manufacturing technology, it would probably retail at double the current price....and that's if you could find the workers. I heard Steve Jobs (RIP) address this years back...he wanted to build Apple products in the USA...his dream was to create a manufacturing juggernaut in the USA but concluded we didn't have enough right-skilled employable people to pull it off. Jobs instead focused on product design in the USA and software and apps. I-tunes, Apps etc. Can't disagree with his decision.
Obama also tried to bring back the Apple job to the US. But he can't, because the suppliers are all in China within the proximity of the factory and the workers stay in the factory dorm, and they can be asked to work anytime, including at the middle of the night.
YK is very articulate n directly addresses the issues without to much unnecessary words....
What a mess! As A Canadian LGBTQ WORLD CITIZEN, UNIVERSAL SPIRITUAL TEACHER AND MULTIDISCIPLINARY ARTISTS INTERNATIONAL am an advocate, proponent and encouraging of good, harmonious and peaceful SINO-NORTH AMERICAN RELATIONS! Let us together find SOLUTIONS TO ATTAIN PEACE, SECURITY AND PROSPERITY WORLDWIDE!
Why do Americans even think people like Steve was stupid? You think he is less patriotic than any AMerican? Americans consumers, stock market, money all benefit and still good to blame China.
@@adrianhdragon718
Don't be simple and naive....
We call it a "fallacy of division"...
When DT has his base of voters (mainly "loss outs" of global trade,
universalism), he can do what ever he likes.....
That was how Napolean and Hilter
came to power....
Apple could just pay the higher wages out of the $400 profit it makes on each iPhone instead of giving it to the shareholders or some billionaire who already has more than he can use.
What an insightful interview. Mr Huang is fascinating to listen to. I think I'll go read the book.
Trade wasn’t the main point , however slowing down China economic growth is the reason.
a smart man, respect
Yukon sound more like a conman.
It is a liar
@@zenlei8258 If you want to denounce the man, use evidence and logic. Verbal assault only embarrasses yourself and no one else.
@@jameszog Try to learn manners.
This is an incredibly productive conversation. I wish we had more of it in the United States.
yukon huang is brilliant
He is a communist
I think both the US and the Chinese leader should take a look at what Dr. Huang has said here.
It is a common sense that trade war is only leading to a lose-lose situation, then why are there so many people from both sides calling for conflict?
To further the question: everybody knows that open collaboration and peaceful diversity are the only ways to truly lift up human civilization and solve some serious global issues like climate change and pandemics in today’s world, then why are conservatism、populism and extreme nationalism gaining more and more influence in many places across the world ( UK, US, China...) today?
I think these are the fundamental questions that we really need to address. After all, no one would want the world's #1 and #2 economy and over 17bl people to keep wrestling and thus "ring the world's doomsday bell", right?
I think Dr. Huang here has shared a very interesting perspective to that matter.
Beyond the kind of economic rationalism and even-minded which Mr. Huang exemplifies with such confidence, there is also the question of the political will of a country, which is implicit in a country's culture, history or collective experience. It is impossible to separate economics from the history of a country, but a self-respecting economist isn't always willing to make that kind of statement in public, especially when some countries are threatening others with a nuclear war.
Very well explained and makes clear that China will keep developing with or with out US Trade.
Thanks sir to be smart forgive the people they are ignorant they do not know what to think
People need to watch this before elections
The real reason for Trump is to carry the value of dollar currency by using trade as one of the instrumentals. The trade war is not a real trade war, it is the media terminology increase sale. The public confused because of too many bad media. In fact, the tariff hurts American buyers and consumers, especially the low income who depended on food stamp and Walmart.
Mr.Huang is right and understanding of China and culture. IT should transfer to the poor country because we all copying and learning from each other for centuries.
btw, 80% of chinese are employed by private industry. the output of private industries in china accounts for over 65% of its GDP. the state in china is not as dominant as western people think.
The other reason is the USDollar is d world reserve currency . US just issues worthless fiat currency USD to “ pay “ for imports. Causes huge trade deficit as it does not cost any resources to import, just issue paper. This is called the “ Triffin Effect.”
Agree, any other country with similar economic matrices would have been declared bankrupt a decade ago, prompting devaluation, to increase exports, rise in interest rates, curtailment of government expenditure, reductions in subsidies/pensions, etc, usually prescribed by IMF/World Bank to the nations in such cases.
But, America has been postponing harsh decisions by printing more dollars, taking on more government debt, and now under President Trump, engaged in trade tariff wars with many countries, pushing country to precipices from which recovery would be very painful to most of its' citizens, especially those living on marginal incomes.
the triffin effect?
Thanks so much to you, Dr. Huang! You help clear the air.
Finally someone made some sense!
but USA dont want to listen
to smart people like him ...
I guess in the end, you never get what is "fair". You only get what you negotiate for.
very realistic views
I hate to see what politics can do to economy and poisoning everything else .
The Trade 'War' is as futile as the 'War' on Drugs. Let the Corporations compete on a 'Level Playing Field'. It should be the duty of all States to be involved in the setting of International Stadards.
Excellent well thought responses without the subterfuge of political comments. The responses of Yukon Huang are well balanced. Thank you so much for sharing.
Why don't normal Americans go to check how many Wars US military has fought against other countries since 1999, Even a primary graduate can find the cause of fiscal deficit.
On iPhone profit: Apple spend billions, pays to people invest majority of their early life time to master on science,.Apple needs to keep more profit for them. What Chinese people can do, in theory , can be done by robots, but Chinese is welling to working at the cost lower than robot installment, it is a fair game of life.
I can see，one day Chinese workers will cost more than robots for Apple, and Chinese people will not be needed anymore.
Chung Lee components of iPhone from japan, Korean and Taiwan are near to China.
He says the $400 profit from an iPhone helps Americans. I don't see how that is as it only goes into the pockets of a few billionaires.
The uk and Europe has been willing to give intellectual property to the us that G’s called a transfer but there is very little transference from Europe and the uk: Aksum the americas took technologies from Germany at the end of the Second World War America is trying to impose their ideological position on China but are not willing to adopt the Chinese political position especially America is imperialist in the way they view African nations/operating policies that is more in line with China in that China is working on developing poor/undeveloped areas.
Except that America more than repaid Europe with massive loss of blood and treasure saving Europe from German militarism (WW1) and fascism (WW2), massive wealth transfers with the Marshall Plan, and a shield against the apocalyptic authoritarianism of the Soviet Union, in addition to the enormous US contribution to science and technology that has more than benefited Europe. That's worth way more than whatever worthless 19th century technology you are talking about. The US isn't perfect, but that's just lazy cynicism on your part. I love the Chinese people, but I'm afraid the totalitarian government that menaces those people has contributed far less to the growth and stability of international peace and prosperity that the US has, despite imperfections.
@@lesoleil1195 american science and technology has been achieved by brain drain from the rest of the world. So why not get back some of that brain drain?
Amazing it will get worst
Last month July 2019
Our trade with China grew it is at all time high
WHY Europe does not have such a large deficit with China (compared to the US) is because Europe, unlike the USA, have industrial policies which more tightly regulate imports and exports, Huang is wrong to say it is due to European balance of payments and budget deficits- that's simply not the case across the board- it could be for Germany for example, but not Italy, Greece, Spain...who all have huge budget deficits.
You don't know anything and you believe Huang is wrong ! Europe does not regulate imports and exports. Greece has a budget surplus. The "huge" Italian and Spanish budget deficits are quite modest at 1.7% and 2.7% when compared with the US at 3.9%.
Thanks! I knew there was something missing from Y.Huang's point.
Knowledge seen to naturally go from rich countries to poor ones. This has been going on since we are here on earth. We have always been stealing from each other.... So what's this big issue between China and the US...?
Had this issue with Japan in the sixties. Problem solved by having Japanese building factories in NA. Problem subsidies of failing American Car companies.
Amazing you can't find Yukon Huang talking about the trade war now, why is that? Some current events have changed that.
The rook strategy didn't pan out the way China thought.
Very interesting to see from Yukon’s perspectives. However Trump is focused reducing trade deficit i.e. to sell more to China which will help US’s economy. If he just does this, either China will incur an overall trade deficit or other countries will. This will also mean countries that traditionally export goods (energy and agriculture) to China will lose business. Trade flows is a zero-sum game.
I totally disagree with this guy!
the US-China Trade War is never about trade, never about trade deficit!
it is about the national security of America and world peace!
In the past two decades, we see "China peaceful rise"
and how peaceful they threaten their neighbors' countries
We see China is building artificial islands in the South China Sea,
and installs weapons on them...
We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force.
We see how much money their print without almost no supervision
and overflow their inflation to the world...
and almost no one can stop them
no one can stop the Chinese government's behaviors
not by Vietnam, not by the Philippines ...
not even stopped by its own people!
I don't worry about the rise of China
I worry about the rise of an authoritarian regime!
there are no true winners in war!
there are always have casualties during wartime
the worst peace is better than the best war
But there are still have something worth fighting for!
It is not about subsidies
and it beyond justice
It's about good and evil
It should be stopped while there is a chance,
before its too late
before we go into a real war!
My best wish to Chinese people!
What us can sell to China? They ban a lot hi tech products and military equipment. They can only sell agriculture product.
Much of U.S potential economic investment for subsidies or infrastructure for growth is diverted into the military used to push global hegemony. Barrel of a gun global economics to maintain an empire and balance reserve currency status of the dollar with internal monetary policy is a tricky balancing act and then dealing with China which has aspirations and invests more strongly in itself is gonna be challenging.
Dumping steel and aluminum is not the issue,our elected officals became millionaires while selli g we the people out.
What a mess! As A Canadian LGBTQ WORLD CITIZEN, UNIVERSAL SPIRITUAL TEACHER AND MULTIDISCIPLINARY ARTISTS INTERNATIONAL am an advocate, proponent and encouraging of good, harmonious and peaceful SINO-NORTH AMERICAN RELATIONS! Let us together find SOLUTIONS TO ATTAIN PEACE, SECURITY AND PROSPERITY WORLDWIDE!
Yes, American companies were VERY HAPPY to get cheap steel, more profits. China may export but AMERICANS MUST IMPORT AND PAY.
So...I listened for 11 minutes and "leadership" in USA and Canada is completely out to lunch. We dumb, man.
Moderator talks about income equality as if it is only occurring in China? Is that not the case with USA?
fascinating!
Could you please tell me where can i purchase that book?
Mao Chandara online and it is very cheap.
Nobody's fool. Everybody knows this trade war is about PAX America. I don't understand why these well educated, well renowned scholars are avoiding this issue on purpose.
Hawk Bokdol Kim when you search idiot on google then you know the answer lol
It’s political, never about trade
Yes, you're right.
I totally disagree with this guy!
the US-China Trade War is never about trade, never about trade deficit!
it is about the national security of America and world peace!
In the past two decades, we see "China peaceful rise"
and how peaceful they threaten their neighbors' countries
We see China is building artificial islands in the South China Sea,
and installs weapons on them...
We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force.
We see how much money their print without almost no supervision
and overflow their inflation to the world...
and almost no one can stop them
no one can stop the Chinese government's behaviors
not by Vietnam, not by the Philippines ...
not even stopped by its own people!
I don't worry about the rise of China
I worry about the rise of an authoritarian regime!
there are no true winners in war!
there are always have casualties during wartime
the worst peace is better than the best war
But there are still have something worth fighting for!
It is not about subsidies
and it beyond justice
It's about good and evil
We should stop it while we have a chance,
before its too late
before we go into a real war!
My best wish to Chinese people!
@@h.t6641 China paid no money for war. Like you said, US must be the threat of the world peace and national risk.
Dr. Huang misses some points. Europe uses their trade tarriff revenue, like what Trump is trying to do, to create internal spending on issues like infastructure. The US can play with trade a little without really hurting its economy.
America is open for analysis so you may look in to agree or disagree.
Not China, it stays silent, it doesnt want dissection or transparency.
Wow ! Spot on ! I fact check a few things and he is right !
You deserve thumb up!
Conclusion is US productivity is too low. US is broken and needs to be fix.
can you debate peter Navarro sell china what they do not have
It is a misrepresentation of reality to suggest that the standard of living in the USA has improved due to the production of low-cost goods in China. In reality, the standard of living in the West today isn’t much different from 25 - 40 years ago. If anything, it has deteriorated. The Chinese have benefitted far more from global trade than any nation in Western Civilization. I would suspect most Westerners would see that as a good thing.
'standard of living' is not an objective reality. It is a subjective assessment.
Remove me from a crowded city, the fumes, the crowds, the noise, the whole thing, and I feel my standard of living has improved by orders of magnitude.
Do the same thing to another man and he'll feel his standard of living has just dropped by orders of magnitude.
And that latter man is in the majority these days, I think. I am in the minority.
And that latter man has an iphone and the internet and online purchasing, online access to education and information so other things being equal I'd say those things are enough to count as enormous improvements in his 'standard of living'.
But I won't argue it as an objective reality. I don't pretend that's what it is.
It would have declined were not for the low priced goods imported from China.
Also bail out of selective banks in 2007
"American companies will profit from protectionism"?? What about the underemployed and unemployed working class!!?? THE grossest misstatement of the trade war so far. Abandoned and neglected by both sides of the political aisle. Thus the election of Trump and the rise of Bannon's populism. As a long time listener, huge disappointment on the World Affairs.
Very good information program
Finally some sense to the nonsense.
非常有意思。
Really thoughtful discussion - or at least the attempt of - of issues and concerns from both sides - US and China - beyond the mainstream rhetoric of belligerence and finger-pointing. Size is a huge factor in all of this (because both US and China are so big, physically, culturally, economically, etc.) the amount of investments, the number of people, the intermediaries involved in doing all this business are monstrous, all this without having had an agreed, shared "power dynamic" between the two govts on what is effective communication of these issues is a travesty - that we haven't resorted to open war is almost a miracle! I do have faith that there are enough brains on both sides to recognize this for what it is - a system flaw to be labored through with equal care and consideration for both. Can we bridge this gap and build on a true "rule of law" society or blow ourselves up and return to law of the jungle?
Like your post, but , one word is, US 'culture' confounds me here, as in other several you tube discussions. Can you please expand on this subject, whenever you find time. Thanks
I totally disagree with this guy!
the US-China Trade War is never about trade, never about trade deficit!
it is about the national security of America and world peace!
In the past two decades, we see "China peaceful rise"
and how peaceful they threaten their neighbors' countries
We see China is building artificial islands in the South China Sea,
and installs weapons on them...
We see they sent fighter jets and other military aircraft near Taiwan threaten to take it by force.
We see how much money their print without almost no supervision
and overflow their inflation to the world...
and almost no one can stop them
no one can stop the Chinese government's behaviors
not by Vietnam, not by the Philippines ...
not even stopped by its own people!
I don't worry about the rise of China
I worry about the rise of an authoritarian regime!
there are no true winners in war!
there are always have casualties during wartime
the worst peace is better than the best war
But there are still have something worth fighting for!
It is not about subsidies
and it beyond justice
It's about good and evil
It should be stopped while there is a chance,
before its too late
before we go into a real war!
My best wish to Chinese people!
Department of defense subsidizes huge amount of money for research institutions.
It’s clear this guy is on Chinese side.trade deficits causes highs domestic consumption in China in other words causing growth and better quality of life in China. The idea that America companies are hurting in China its good thing so they should be manufacturing here in theUS. In the long term benefit employment and goods affordability here in the state
Trade war negatively affects Chinese employment market, which in turn causes a lot of damages in the Chinese economic.
China is a country that relies on imports of energy, food and other resources to sustain its current life style which Chinese people are getting used to in the last 40 years.
Taking away these privileges is very likely to cause concerns about the legitimacy of CCP ruling.
vincchou CPU is a small portion of whole semiconductor industry. China import semiconductor’s value is more than oil, you know China is the largest oil consumption country in the world. So no matter if USA like, China will and already investigate this industry a lot. Especially when USA ban Chinese ZET company use USA’s IC. And based on what I read now, China has some good results. China almost dominate LCD market. And will dominate storage market soon. Huawei can design their own SOC and the performance is really good. But I still think USA has the most advance technology in the world. And it will take China quit a while to catch up.
Really? China would (rather the CCP) want to respect IP? What solar system is he living in? I feel like he may be trying to be “provocative” with his approach; however, on IP theft from what I’ve read and seen in action at my company... Yukon is not aligned with any sort of really. Perhaps I’m wrong
the biggest steel and aluminum exporter to the usa is canada, not the chinese.
Pick up any three items in a hardware store and how many are made in China. Pick up any three items in an electronics store and ho many are made in China. We are the dumping grounds for cheap Chinese goods because we have lost our manufacturing base. I’ll pay more for American goods. We Ned to cut trade deficits and loss of technology. Trade is deficits and technology. What happens to China if trade is completely cut, no trade.
Yukon Huang is brilliant. His analysis is logical and cogent
China will never be forced into giving any concessions of any kind, any form or in any way.
How this could be even a hope on the American side, is beyond me.
Foreign companies doing business in China as a solo is doomed to fail because of complex social, cultural and governmental structures. It is impossible to navigate without a strong partner.
@Phù Đổng Thiên Vương China does not force companies to take part if they disagree to technology transfer.
When you have 90% success rate at court, wouldn’t it be paranoiac to doubt the system?
The elephant in the room is the difference in the amount of dollars going between the 2 countries. Use the services sector to get them balanced.
No matter what, cream always stay on top
As an economist, Huang got basic data wrong, therefore his conclusion is wrong as well.
Per US Census: China US trade deficit
www.census.gov/foreign-trade/balance/c5700.html
year 2000, -$83,833 mil,
2005, -$202,278 million,
2015, -$367,328 million,
up to Oct. 2018, -$344,470million
Chinese post 14-40% tariff on US goods, US average tariff 2.5%. China started trade war in 1990's, over the decades, it took bil. bil . bil. surplus. Central bank has to issue debts to cover the deficit. considering huge deficit, Chinese goods are not cheap, American pay big price for it. US national debts currently up to 22 Tril. which puts SSN, Medicare insolvency.
zero tariff is the best way to keep trade balance in long term.
The moderator has failed to narrow the gap between the division in the American politics by not forwarding sharp and tough questions to Mr Huang who seems to act as a CCP lobbyist.
Try to be more open minded. Is subsidy an unnecessary evil? If NASA needs to be a government initiative, why not any other business activity?
great points.
If that be the better alternative, China would desingague economically from US, including the dollar.
why 57 comments not show?
Listened to half of it...didn't hear anything about IP theft. Otherwise, he did a good job with his pro-Chinese stance.
If China opens to US companies like Google, Facebook and So on, can Chinese companies compete and survive? And, Can China government maintain its political systems?
You forgot to mention Free Access to Information, i.e. UNRESTRICTED Internet.
So, the answer to all of your questions is Of course, NO! That's why China talks about more "Openness", however, CCP sees this openness only One-Way, i.e. other countries should open more for Chinese Silent Invasion.
China give google and Fb chance before. And during that time still nobody use google cause google this world is so hard for Chinese to spell. And both company violate local laws later. Then Chinese gov can only ban these two company. Another example is Microsoft. China never ban this American company and msn never win tencent ‘s QQ
GOOGLE and FACEBOOK are really inconvenient to use, the UI, the logic...from someone who uses Google, FB and local internet services on a daily basis:P They won't win even weren't banned.
They refused to comply with their security requirements, and China wont trust them, as much as US dont trust hi-tech from Chinese. Even if they get in now, too late, UIs of G and F sucks. Have you seen UIs in Japan and China??
p/s; even US and Eu citizens dont trust G and F.
Thank you Mr. HUANG. You enlight many of us, your knowledge should be spread throughout the media world.. Highest regards.
YK speaks in a way as though the CCP can be compared to a Democratic country. Open your eyes; don't allow yourself to be fooled.
I don't agree Yukon Huang view.
US buyers can get cheap product from China.
But the buyers don't have jobs.
Then what is the point of cheap products but buyers don't have money to buy.
Make products in US will cost more
But the buyers have jobs
The buyers have money to purchase products
Poor China has to give up a tiny fraction of it's billions of dollars in revenue. The 80s were actually pretty good and stuff from China/Japan was expensive. Chinese giving up a bit of pocket change from them for a FAIR world. Greed has gone to peoples heads. It is absolutely terrifying that this Chinese guy is for greed over the good of the world. Horrific.
America has a lot problems their own. Please focusing to solve own domestic problems.
The consequence of the dollar hegemony is a huge trade deficit, because the United States needs to flood the world with a large amount of dollars, and other countries must use inexpensive commodities in exchange for dollars. Therefore, the U.S. manufacturing industry must be unable to compete and transfer to other countries. These are the deformed economic models caused by the greedy capital of the United States! In order to transfer contradictions, American politicians say that they have been caused by other countries, thus blocking trade in other countries! If the American people are still not aware of this issue clearly, then the United States will not really be great again!
In fact, there is no absolute democracy in this world. This is just a game made by the capital group that fled from Europe to the United States in World War II. Democracy requires funds to run for elections, and it is about the capital group behind the official US government. And unlike China, they will not allow any capital to control this country, which is why Western capital wants to get the Asian market and fear the socialist countries!
The Belt and Road Initiative is actually bypassing the maritime trade channel controlled by the United States, and Americans are certainly afraid! Just like the oil China renminbi, China's global industrial division of labor competitiveness is gradually approaching the United States! Therefore, the United States began to comprehensively curb China’s development. US hegemony does not allow any country to compete with the United States! Look at the war launched by the United States. You will understand the reasons for all this! Although the United States is a highly democratized country, behind the democratic government are controlled by large interest groups, such as arms and oil finance. This will inevitably drive the United States to use war and other means to maintain its dominance. This is why U.S. spending has not been used to build the United States. After all, China has experienced a history of 5,000 years of civilization. Looking back at the history of China, the dynasty that used force to dominate was often dying, and the history of the world was also reviewed. Therefore, China will not take the old road of the United States. China's One Belt and One Road is to link the Eurasian African continent with railways, so that it can form the world's largest trade market. The advantage is that it can be separated from the US sea route control. Once the largest world trade market is formed, the United States will be marginalized. The United States will no longer be the central force of the world, and the center of the world will return to Europe, Asia and Africa! This is why the United States is so afraid of the Belt and Road. And China has begun to compete with the United States in high-end manufacturing, so the United States has to do everything to kill China! Including political diplomacy, financial warfare, media public opinion warfare, biological weapons warfare, arms competition, and finally military warfare.
In fact, let us review the history of the world and have a very clear answer. China is a country with a history of civilization of 4000-5000 years. If a country can exist for such a long time, then it must know how to rule the land. Since the World War II and the industrial revolution, the West has begun to become the center of the world, but it has only been two hundred years. Because the short sight of political gaze cannot rule the country for a long time, look at the Mongolian Empire. Historically, Many outside nations have invaded Chinese territory, but they will not rule for more than one hundred years. Because they only use force and no wisdom. Maybe technological force can be a leader in the world for a while, but it won't last long. The reason behind this is the political system!
In the future, the United States will be difficult to compete with China at many levels, such as market size and demand and consumption levels, industry chain, talent pool, political system and reform capabilities.?
You don't even know who invented created something from the beginning. Chinese uses 5G phone, you use 4G, who is stealing. WTF
usa trade part of gdp is only 8 percent half of it is with mexico and canada ... china is he said 40 percent.... usa is food and energy self sufficient ... china is more over-leveraged and dependent on trade ... has worse demographic ... not food and energy self sufficient
He says that markets reacted positively to the truce of the trade war(hence its bad)....but hides the fact that when it was imposed, the US stocks rose compared to chinese.
Absolutely disagree with Yukon, he is extremely cunning with his analysis that it is due to individual government and not trade deficit problem. He said EU have trade surplus (partially funding by America’s trade and military protection), he said Communist China doesn’t have trade surplus, due to buying commodities and raw materials with Neighboring Asian countries like Japan and SouthEast Asia (that’s why China wants Malaysia so much) and capital flight flowing out from China, while America has trade deficit with China and the world.
He said that China has strong productivity despite wage increased 7 fold and are higher than Vietnam, Malaysia, etc, and they invest in infrastructure of 45 percent of their budget, whereas America only invested in 17 percent. That doesn’t mean that America needs to offshore these manufacturing factories and jobs that are vital to key sectors for national security and national economic purposes - the strategy breakdown of key industries of present and future economy needs to be protected.
He said that America has tremendous trade deficit with China from 1999 onwards (he never mentioned that as the result of WTO and MFN status), and the various geo-political alliance in exchange for the hollowing out of jobs and factories abroad.
Yukon didn’t square well with the audience and he knows that. America has stupid incompetence leaders that negotiated on behalf of their corporate lobbyists and shareholders instead of America, and as the result, though it is TREMENDOUSLY at a disadvantage and disaster to America’s economy and national security, they do that (also, these incompetent politicians wanted Communist China to overtake America - they believe in the declining position of America).
I had a nagging feeling whilst listening to the talk; thanks for crystalising some of the points Huang left out.
费力听完，感觉有深度。中国本来就只是求个发展而已，但因为中国太复杂，人多但发展不均衡造成外界的疑惑。我觉得中国发展经济没错，但与其他国家政治有分歧。
If US has the same common sense and positif thinking as Yukon Huang, Americans and the rest of the world will live much more peacefully and happily...Hopefully Americans will wake up before the world becomes like hell !
why keep saying that china steal ip ? chinese already buy ips
also some chinese just copy the brandname and sells to the real one. i think this is disgraceful!
He got all the answers sounds so smart but the years I personally lived in China can say he full of it.
jtr789310 what year was it? 2018? Where did you live? Countryside? What is he taking about? Regional level?
Could you elaborate on what you mean, please? I don't particularly like Y. Huang. But I'm not sure why, exactly.