China needs us more than the U.S. needs them, says portfolio manager
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- Опубліковано 14 тра 2019
- Neil Hennessy, portfolio manager and CIO at Hennessy Funds, and CNBC's Michelle Caruso-Cabrera join "The Exchange" to discuss the ongoing U.S.-China trade tensions and who stands to lose the most.
- Розваги
Wow never thought I would hear this on CNBC Big changes hopefully for the better.
That’s what my ex thought that I need her more than she need me, now she is keep calling me lol 😂
man power. reset the relationship now-- and like tariffs, make her pay for everything
don't take her back, she's already been around the block since you left
Yes, USA will beg for China’s attention in the future.
🤣😭
Day dreaming all yous are. Look at what US did to Japan, did to Russia, who ever is doing well then America, US will try hard to stop them in order to keep their world power, it is a sign of weakening.
Nothing to worry about then. Why all the hysteria?
@Teringventje : out there IS rather big and to claim anything different from your statement would be rather foolish. It s fairly clear though from your response that u might habe a difficiency in irony.
Everyone knows the US business community is relying on outsourcing (heavily). US companies outsource almost all of their overseas productions to third parties (like Apple). The factories belong to the third party companies. If the US Companies want to shift their production from China to other countries, then they would need to find countries that have those infrastructures and capacities. And right now, there are not too many choices are available. Everyone has mentioned Vietnam. Well, Vietnam is a county that needs the capital (money) because they don't have it. So, someone would have to do the initial capital outlay. Who is going to do that? And, the labor quality is not that high in Vietnam, meaning, they can't build high quality products with a lot of intricated high-tech involved products. Yeah, they can sewing machines, printers, and washing machines. That's about it.
exactly
The talking heads keep talking. The country does not take care of its poor (white or otherwise), does not train enough engineers and scientists, does not invest in new technologies, does not build the right infrastructure. The country can’t compete in the world market but worries about China exporting its government model and blames the Chinese for all of the country’s failures.
This tariff stuff is really alot of smoke and mirrors by Trump. The real issue is American debt and overspending on things that we don't really need. China is still not mature economically and it seems to me that the US is using the tariffs to force China to do things (like giving US companies more access to China) that they are not ready for yet. It's like asking a toddler to act like an adult. So I am not sure if China can/ will capitulate.
"It's ok to be a copy cat as long as you copy the right cat" --from the book The Big Idea by Donny Deutsch.
Mira someone actually bought a book by that idiot suck ass Donny d
Put your money where you mouth is, those who want trade war should pay for them.
PLEASE TURN ON THE CAPTIONS! I'm nearly deaf and I GOTTA HAVE THOSE CAPTIONS!
No 'cc' icon visible as of this post.
And don't tell me (the viewers/readers) how to turn on the damn captions on my end! I always have my settings enabled for automatic captions!
Not bite the hand that feed you, we need each other.
It is amazing to me that as a consumer based economy we think that we are the only nation that has the demand for these goods. Let’s see how this plays out.
6:05 “They may have very bad, backward economic thinking.
Thinking that state intervention is the way to go.
We have a hundred years of evidence that doesn’t work, but if they want to have at it again, go for it.”
Talk is cheap.
Time will tell.
‘Barking dogs seldom bite’
‘Still water runs deep’.
That’s the difference between Donald Trump & Xi Jinping respectively.
In this case,
‘Barking dog runs into the deep water’.
A dog is certainly going to drown if it keeps on barking when it's in the deep water.
China bas been and is still supporting N. Korea and that is an evil relationship!
china already have huawei.
so why china still needs apple nowadays ???.
apple must also use 100% china chip made, as a US chip security threat too.
China chip is trash. Huawei is toast. Bye bye Xi-troll.
Huawei that use US chips LOL
US not bullish but FOOLISH
China makes plastic toys and US makes soy beans. Now I am wondering which will last longer indeed.
China produces almost everything we use. We are dependent on their cheap goods. I'm pretty sure they also have farms there too
You should do some research before you type nonsense. The US outsourced most of its manufacturing a very long time ago and gave up its intellectual property in order to access the China market. It’s a mistake to think that China needs the US to such a large degree.
The fact that the US still makes soybeans is because the land is fixed in the US and can't be traded, otherwise the US would not bother to produce soybeans either.
@@TheAvtrey China can not feed their 1 billion plus people. This is a fact.
Both sides live for each other's convenience and either side can live alone and go separate ways.
Very true
if it dosen't work why you guys want to stop it?
Sweet it's great you made ma day
Thank you for this! Makes a lot of sense.
It is so easy to tell which side is winning the trade war. The side that is eager ,hat in hand, to renegotiate and then boasts of winning a better deal afterwards is the real loser.
state intervention you say...
This is what it sounds like when a reporter is told what argument to make before they get on air, and they raise ridiculous points one afyer the other, while ignoring obvious ones that counter that viewpoint.
If you are rich you don’t need anyone
I wake up today to read comments which is different from the pass days
you forgot that D.T put 1.5trillion tax to the pocket of the business... the business are not doing as good as he said...
Do NOT refer to Japan in the same way as referring to China.
Japan has never stolen US technologies. The Japan’s technologies are almost all what they have developed on their own. When they needed US technologies, they licensed, namely, they paid for them according to the IP rules and laws.
Describing Japan as a parallel to criminal China (or calling Japan as if an enemy) only weakens the positions of US sanctions against Chinese thefts.
Americans must realize that Japan is a very important US ally. If the US-Japan alliance were broken, all Asia, the Indian subcontinent, Australia, and the Pacific may be lost to China or Russia.
Wait, there are 3 billion of them and 300 million of us. While I agree that in the short term the US economy is larger, in the long term do the math tools. Ask US farmers where they are buying their food from now, not US farmers.
Food?
A large amount of babble from people who are not connected to the real world. Anyone who looks at the population and economic data will quickly understand that there is no comparison between China and Russia. China is the world's second largest economy. It achieved that status through the work of the Chinese people not from some gift from Washington. The central fact all of the commentators can't understand is that the future of both China and the United States is far more dependent on the internal performance of both nations than on anything that has to do with their relationship. Possibly, the United States could change that reality by choosing to wage a real war in an attempt to destroy the Chinese economy. But, that choice would bring large damage to the whole world and have very uncertain prospects for American success. There may be some possibility of America's attack on Iran escalating into that kind of conflict. But, the more likely prospect is some path within the diversity of Trump's entourage. That certainly could include extended use of tariffs. Possibly those tariffs will weaken Trump's claim for leading the United States to exceptional economic success. Possibly the impact of those tariffs on consumers will not be too big of a negative for him. But, it is hard to see these developments adding much to his popularity. In any case, given the economic starting points, recent economic history, and quality of political leadership, it is easier to see continued expansion of the Chinese economy and China's role in the world economy than it is to see the United States contributing anything constructive to the world.
you' are right about Iran war is coming and is going to be bloody we have in book described that war from 1000 solders 999 going to die only one going to survive a power behind planning that war know this info that why they love to show 999 upsides down 666 every star in showbiz doing that with hand don't be blind that war is in the preparation everything is plan to take power from us and give it to izraheel that izrahel can be ruling states
Wrong. China achieved it's present status due to much favored treatment by the West, because they thought they could get rich selling to 1.5 billion people in the Chinese market. The Chinese people have been fed a lot of lies by the CCP and now Xi is talking about another Long Journey. Believe me, things are about to start getting very tough for China unless they agree to fair trade, stop stealing IP, and become responsible members of the community of nations.
@@GenXstacker responsible members of nations? do you have any idea what you are talking about? that make me laugh. do you mean invasion based on washing powder? or sponsor ISIS in an agent war?or fake evidence for another war with Iran? your companies outsourced those jobs everywhere and profit huge by doing that, you blame us for taking the jobs? your have blue sky and clean water cause you dumped factories and garbage into our land. about fair trade it's funny that America has a list of products that never allow us to buy and force us to buy something we never need. when we figured out how to make those things ,you called us thief, i guess space station ,5G,quantum satellite also stealing from you, right?
@@ismeeiger5322 blah blah blah China signed on to the WTO but has failed to live up to any of their commitments. Xi talks a big game but has little leverage. Either he makes a deal or your economy will soon be crippled. Xi trolls don't have a clue how the economy actually works. The buyer has the leverage and we are the buyer, get it?
@@GenXstacker "failed to live up to any of their commitments"?, i guess someone is from parallel universe,we fulfilled 80% of our commitments and will go on from that. if someone is not satisfied , do whatever you want ,we don't give a damn.
China needs US for the maintainance of 6% of total foreign trades. US needs China to meet the 80% of imported consumer goods.
yes but we can go to other countries right!! why china, what about mexico, Vietnam India, Pakistan??
This is where you’re a fckin idiot and know nothing about business. Think about the amount of time it takes to set up new factories and supply the proper training. US is knee deep and haven’t prepared for a fall out.
All the countries you’ve listed have been viable backup plans yet no action has taken course in the past decade. Gee I wonder why
The biggest joke so far: China needs USA's food.
Just dumped their soybean order, they have it alll
I believe so as well.
China can get dairy food and meat from Australia.
why would the US want to talk about the trade deal with China if China needs US more? i dont fucking understand this logic.......
Good luck my CNBC opening your eyes see a round the world ?
Gordon Chang double!
You mean China needs your GM foods.
If only Nixon hadn't visited China...
The Chinese also hold a lot of our paper. what if they call it back?
Only 1 trillion. It's a lot but not as big as it used to be.
Where CAN't they get the food? Wouldn't countries would be lining up to sell food to the Chinese? This doesn't make sense at all.
In 2017, U.S. agricultural exports to China reached $23.8 billion,
over 17 percent of U.S. total agricultural exports. From 2000 to 2017,
U.S. agricultural exports to China increased by 700%. Soybeans are
China's No. 1 agricultural import from the U.S., with a 52% market share
Then we eat and use something else. Chinese consumes most of it in soymilk and oil. Just use something else. I'm 40 and we had ration coupons on certain goods 30 years. Our parents like xi Jinping were exiled to farms for reeducation ( in xi Jinping's case, the man lived in a cave whilst his father was enprisoned). These older statesmen who are in charge are tough as nails, so you think we will bend over because of an orangutan and a bunch of tariffs?
They can’t get enough guests to repeat their wild lies so they start to invite their people. How pathetic.
We both need each other for ourselves economy and we need China to buy our bonds
Yeah yaeah yeah .. Continue your dreaming.
+1% Tariffs DAILY until CHINA makes a deal!
😂
why not make it 2%? see who quit first lol maybe your 401k will go first lol
I heard one of Trumps advisers admitted on the air that US consumers are paying for that tariff.
Do you ignorant people know what is tariff?
Tariff is a tax apply to goods an importer imports from other countries.
Because of this tax, the imported goods…must cost more (buy price+tax)
Chinese goods are cheaper than other countries because they are mass production (they have 1.40billions people)plus lower wage. Who can compete with them?
Trump gave you a tax cut last year, he takes it back now! What 's you buy in stores you pay more 10to25%. The riches don't care!
Why not if it makes you feeling better.
President Diaper Trumpet will bring jobs in for you to change his dirty mustarded diapers.
Enjoy !
Thank you for robbing the farmers
two women talking out of their league. old dude sitting in the corner, saying gosh, would you let me speak LOL
It's okay guys, no recession is coming. Don't get uptight.
1:20
2:30
"We Out Spent Russia to an extent, that Russia gave up"
"Reagan Spending, cost us a lot of money,... ...*there were cost to the united states as well*
they couldnt be talking about the 240B it took to fund that war, are they?
the 240B that Reagan took a loan out for bc he knew congress wouldnt approve the funds?
the 240B that was funded by big banks buying bonds?
the 240B worth of bonds that would come due in 10 years, that would not have been approved to pay off by congress?
the 240B that had to be paid no matter what?
If we knew, that 10 yrs later, congress would not approve that payment, how do we make a situation in which congress will say "yes, pay that bill, i dont care what it is"
thank goodness we have the cia to take care of things like this. i dont think that note would have been approved or paid for, if it wasnt for them.
Really? The company I work for (US)is already starting lay-off last week due to the uncertainty of the trade war. They will let more people go if there is no deal with China after G20 . I assume this is just the beginning .
Laughing at others while failing.
Hummmmmmmm.
Still winning? Why bother talking about it?
Ohhhhhh whooo ya paid people
You guys are a bit crazy here on TV ....if Chinese are going to lose do you think they will put a fight ? Are they stupid ? For sure not. So for sure the Chinese have some up to their sleeves and they are sure for certain thing and that’s why they keep fighting ! So open the yes !
This guy better does his homework before talking....
LOL, US food feeds Chinese? how long does the us agricultural products get into Chinese market? Do your homework before you speak, Mister.
EVIDENTLY This broad has not been unemployed for 8 years...
Both guests are wrongs !
Absolute lies. China can support itself and has the mineral resources and the intelligence to do it. The US relies on Chinese minerals and is worried about the future trying to secure contracts for strategic minerals with other countries.
hedonics in the inflation nation is the cat in the bag which has been declawed
Think about what Chinese did to Google, and Facebook, Amazon.
Sean LEE amazon? Excuse me 🤣?
I am a Beijing customer of Apple, GM, P&G, Lego, Starbucks . My first car is Buick from Shanghai GM. The car I using now is Cadillac from Shanghai GM too. Both of them are out side from the export of US, Now I feel shame on my consuming. I smile to you, you pee me. What do you expect I give back.Yes, I need you. I need your balls.
Go ahead and burn these items. The US will remain the most powerful nation on earth for ever ever and ever. The US will continue to bully communist china.
Mark Ampaw Great! Why not burn all the US things that from China. We don't care US be the most powerful state. Who care. We just want a better life. Suggest you spot wealth from US capitalists.They got most of money creat by us and you. To bully whoever as you like.
Mark Ampaw As your wish. Actually, I feel great to be bully by the person who from the most powerful state of the world. Ironically powerful.
@@otherways4786 Then be quite and suffer in silence.
Mark Ampaw Nope. I 'd like laughing loudly at you.
Lol please tell me they joking right we need China
Wow, is the host uninformed! Quit listening at 2:43.
Very proud and arrogant woman
Comparing China, to the USSR ... /headdesk.
I once dated a girl, who was so use to treating me like dirt such as coming home late, not showing appreciation, stealing from me, having everything her way..but soon I put my foot down and demand FAIR treatment.. she shifted all the blames onto me. Her name was China 🇨🇳
Don’t let the fact slam your own face😂
lesley cocoa Next!
Asians for Trump 2020!!!! ❤️❤️❤️ We love you, Donald!!!! 😍😍😍
China is getting more and more food from Siberia and Mongolia. Its population is dwelling down to a manageable size eventually . It's aim is to become self sufficient in the near future. The East Asian countries ( Middle East) and the South East Asian countries with more than 50% of the world population in 2040 will be the area most dependent on food from other countries.
I don't think this lady and gentleman really understood what they are talking about, all bullshit to fool us.
China exports to USA more than 700 billions dollars annually. China definitely depends on and needs USA. Simple and kindergarten logic .
The U.S manufacturing is only about 8%. Asians are good @ math.
US - You've created a monster.
Gareth Ifan, trump created a mess, China will rise and grow with or without trump.
@@dragondescendant1 We'll see..
This a a great opportunity for India and ASEAN countries to develop and solidify their manufacturing capabilities.
BS
lol ..
That's funny. Why did the European countries closed doors and say thank you, instead of opening the doors?
Empty drum makes big sound. US( mentality) is like a grandchild to China.
Trump has changed not only the conversation but the whole argument. His long time advocacy has become the operating assumptions.
We have been the right cat for a long time.
China doesnt need food from the US, they can get soybeans etc elsewhere.
The USA is the largest supplier of FOOD for china not just soybeans "As of 2013, the latest figures available, China represents a $26 billion market for U.S. grains, meat, dairy products, fibers and other goods. While the U.S. is the top provider of Chinese food imports,"
@@lolz616 $26 billion is nothing with China's huge population. They can get this elsewhere, for example from Russia which is next door. Russia is the world's largest wheat exporter.
Withnail1969 if it was cheaper why haven’t they been doing it then? Cause it isn’t
@@lolz616Because they wanted to keep the US happy by importing from them. After recent events its clear they don't need to worry about that any more.
Market took off under Reagan because of leadership of Paul Volcker a DEMOCRAT appointed by a DEMOCRAT!!!!!!!!
Trade war is easy to win
美国没有完整工业体系，而中国拥有最完整的工业。中国可以自己生产中低端芯片。高端芯片一旦禁止从美国进口，中国可以通过国家力量研发，只是时间问题。对于美国发起的贸易战中国做出的是长久的对抗。因为这关系到中国能不能得到公平对待和国家发展。
China's Favorite saying - "It is your fault if you let us cheat you, MAKE us play fair!". Trump said "Challenge accepted".
Hey, no US analyst on China understand them.Wrong analysis 99% of the time. This come from a long time watcher of China.They have a lot of grand plans which I don't see US doing for their ctry.US are more interested in playing controversy.If u want to understand China, maybe listen to Parag Khanna or Kishore Mahbubani,Kevin Rudd, or Jim Rogers who is a venture capitalist.
有一句老话说：地球离开谁都照样转。没有谁离不开谁，美国政客也别太自作多情。
China has only a few products that will be difficult to source elsewhere. Cheap labor is their only real competitive advantage and that is negated by tariffs. It's also possible that European countries may enact their own tariffs to balance out their trade deficits with China. China better develop their own economy quickly because the world is quickly becoming a less friendly place to do business.
Eric D. really?? with little knowledge that you have, do you not know China became to be the hub of supply chain of the world? cheap labor for China is the thing of the past. Also with 1.4 billion people and 400 million of which are middle class, China middle class is bigger then U.S. entire population, U.S. companies are very anxious and desperate to share a piece of the pie.
👍👍🇺🇸🇺🇸 CHINA NEEDS U.S.MORE THAN US NEED CHINA . I LIKE PRODUCTS FROM U.S.
I THINK, CHINA HAD FREE RIDE FOR TOO LONG, AND POTENTIALLY PAST PRESIDENTS SHOULD HAVE DONE "FAIR TRADE DEAL" WITH CHINA EARLY ON, BUT TRYING TO STRAIGHTEN THEM AFTER 40+ YRS. GOING TO BE HARD BUT TRUMP ADMINISTRATION WILL DO IT SOONER OR LATER. LOOKS LIKE CHINA IS A ONE SIDED TRADING POLICY COUNTRY AND BECAME TOO RICH DUE TO THAT. 👉 IMMEDIATE SOLUTIONS; MOVE SUPPLY CHAIN TO USA OR OTHER FRIENDLY COUNTRIES.
Keep your advise to yourself. Your way is not my way. Don't impose on others. Everybody have a choice.
Propaganda
Tom Friedman is now a truth seeker according to Right Wingnuts ? How special the guy they hated .
Reagan won Cold War ? Of course Iran Contra Boy did it all by himself , forget Truman , Ike , JFK, LBJ, Nixon, Carter. Soviet Union fell because of the cost of Empire you fucking Right Wingnuts, Chump Propoganda.
Myth man.
Hey Caruso Cabrera, China owns us jackass !!!! We borrow from them and they are the stupid ones ? We need them bigly !!!!
China is our Nike factory
state intervention closing line madde me laugh. americans forget about 2009 bailouts? world is mad, and american imperial status end is near, I guess.
These people are consumed by their own importance. China has NEVER needed any other country in the past 10,000 years. They have 4 times the population of the US and as for food China is located in the sweet spot of the temperate climate zone and the US is becoming drier and getting more weather extremes.
Short term? Lol haha
The trade war, no matter US win or not, doesn't help US public. If it wins, will be good for the big US corps because those big corps would be more freedom to enter the Chinese market. However, American people won't get much benefits because jobs will continue to stay overseas especially on the cheaper market like Vietnam and India.
Actually american can be self-sufficient, it can totally live on its own without EU or Asia market, the america continent is already big enough. On the other hand, more than 80% of china trade surplus comes from US market, if US decided to close the market, none else can take over such a big quote, EU can't, neither can japan, that's why Trump said we have all the cards. He want to throw a sprat to catch a mackerel