Why is Biden ratcheting up the trade war with China? | Counting the Cost
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- Опубліковано 22 тра 2024
- Chinese imports have helped push down the cost of products like video games, T-shirts and home appliances in the United States. But many American factories say these imports have driven them out of business and cost more than a million people their jobs.
President Joe Biden says he will not allow China to "unfairly control the market".
In the run-up to November's elections, he has sharply raised tariffs on Chinese imports ranging from electric vehicles to solar cells to protect American industries and workers.
Beijing has launched an anti-dumping investigation in response.
And Cuba's sugar industry is in crisis.
Plus, the world faces shortages of critical minerals.
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#JoeBiden #unitedstateschampionship #China #Trade #Economy #uselection2024 #aljazeeraenglish
Don't blame other country's success for your policy failure, shortsightedness, and greedy.
Don't be fooled they playing you.
China is essentially funding all their businesses. the United States will have to do the same to compete but people in this country see it as socialism, we can lose if we don’t stay competitive
@@shanedwood Ok so situation in China has gone from "bad to horrific". So demographic data coming out China suggest that replacement generation they thought they were going to get in 2000 never materialized. They estimate they over counted by 100 million people.
@@shanedwood The Chinese birth rate has drop by almost 50% within the last 5 years. So capacity for China to be a manufacturing power long term is now impossible. Now obviously the Chinese government would prefer that end date to be in the far in future as possible. So the American birth rate which low, has now been higher than China for over 30 years. China has run out of people under age 40.
@@shanedwood But within next twenty years China will stop being a manufacturing power for world. That why right now Mexico is exploding their economy right now is currently bigger than that of eastern Europe. Mexico not China is now America's number trading partner. Pretty soon you be using the Mexican Peso not the Chinese Yuan.
When US dominate, everyone had to follow WTO guidelines, which created by U.S. when U.S. lose the competition, WTO rules is outdated and don’t need to follow. That’s the U.S. rule based order logic
You have been played for a fool.... Yes, Donald Trump and Joe Biden has slapped some minor tariffs on Chinese goods. But let be very clear America and China just did a record breaking $758 billion dollar in trade in one single year. That highest that ever been. So don't be fooled by "Capitalist Propaganda" they want to you think they are fighting when in reality they bullshitting you!!!!!
Why does nobody talk about the US dominance in Software, Cloud Service, Financial/Investment Service...? 🙄 With 60 billions weapon aid to Ukraine, American defense companies will have more funding for R&D, how would China/EU defense companies are going to compete?
@@oceanwave4502 they don't. You are also forgetting that China is still it industrialization phase. They don't have entertainment. So take someone like Zion Williamson 19 year old black kid that that sign a 60 million dollar plus shoe deal with Nike to play professional basketball you don't see something like that in Russia or China.
@@oceanwave4502 billions and billions to Ukraine, and also American fanncy weapons to Ukraine, but Ukraine still lost 1/4 of their land
i wonder how much russians spent their money
@@oceanwave4502 Its clouded by the $34 t debt which does not even include household, credit card , mortgage, state and local government debt...Thats why
I remember Biden said china can't innovate.😂😂😂😂😂
Inmovate thru stealing technologies😅😅😅😅
Look who's laughing now 😂
He ummm....... heard that on his record player one night......
Don't worry. He doesn't remember his ignorance.
US Politicians are a bunch of talk show comedians
so on the first segment, the west is complaining about chinese gov't subsidies and on the last segment the west wants gov't subsidies to mine rare earth... all hypocrisies in one show...
Yur comparing apples with oranges.
chinese gov't subsidies Tesl at the same time.
@@aarongao3578 that’s only one company. China subsidizes every company
@@LSmoney215apple=orange=fruits😂=subsidies= vitamins
has there ever been a time when humans worked together for the betterment of humanity, regardless of country?
Americans Can't compete
They are playing you my friend.
They're poor losers whining.
@jaxbronson9734 ....85% of the w0rld haaates you. And that number is increasing everyday. F Amuur!!cckcka.
@jaxbronson9734🤡🇺🇲📉
@jaxbronson9734infrastructure failing, no healthcare, poor education systems. That’s what the US is known for
Bottom Line: USA can't compete with China. 😢
how could you compete with a cheater?
@@babymama1120 you should stop listening to your politicians and open your mind
@@babymama1120cheat your mom😂
The US isn't competing with China. It's American
Companies. US doesn't do commie BS
@@babymama1120classic sore looser's excuse
When the world was discussing Global warming, Chinese must have been thinking everyone's going to encourage green tech and EVs and green energy. So they did. Few years later, all the western countries ditched their plan to go net zero. China's only one who really did something good for the world growing the green industry. Subsidising green teck is good. Every country should do it. It's for the greater good!
Every country does do it…. They just want to pretend only China does it
Except they've actually massively increased their greenhouse emissions over that period
@@stealthtowealth2167
China is responsible for 33% of the world’s energy-related CO2 emissions today, but this will reduce to 22% by 2050, a reduction in annual emissions of 8 GtCO2 (three times the size of Europe’s decarbonization over the same period)
China’s power mix shifts from 30% renewable today to 88% by 2050
Solar makes up 5% of power generation in China today - this will rise to 38% by 2050
Oil consumption only halves by 2050 from its 2027 peak, while natural gas peaks in the 2030s before returning to today’s levels by mid-century
China will further extend its position as the world’s green energy leader with unrivalled build-out and export of renewable technology
DNV
@@DW-op7ly China currently has 392GW of new coal fired power plants permitted or under construction. This is around a 30% increase from current levels, where China already has 3 times the amount of coal plants as the entire western world. Last year China accounted for 95% of the world's new coal fired powerplant capacity, equivalent to 2 new coal plants per week. The G7 countries have reduced their coal fired power generation by around 30% since 2015, with total current generation of 310gw, less than the 392gw China is currently planning to add. Put another way, China is currently building more coal plants than the entire western world has.
The targets you're talking about have been around for decades and there is zero intention to meet them. They are designed to distract from the reality that China is massively increasing greenhouse gas emissions year after year, and plans to continue doing so
@@stealthtowealth2167
you exemplifying what is wrong with our western society, how we lost our pioneer ethos, and failed western thinking
And we wonder why we are behind them
A few years back China shut down too too many coal mines, and shut down too many power plants
They obviously are not there yet but they will get there
In the 1980s … 88% of the population was knee deep in the mud of their family rice paddy plot or working a factory floor
Now they are pushing up our home prices where we live
Unlike people like you who assume they think just like us?
We in the west fail, so we should just give up
👇
What is the Dunning-Kruger effect?
When we don't know enough to know what we don't know.
* So goes the reasoning behind the Dunning-Kruger effect, the inclination of unskilled or unknowledgeable people to overestimate their own competence.
LiveScience
👇
Why we overestimate our competence
Social psychologists are examining people's pattern of overlooking their own weaknesses.
Cross-cultural comparisons
Regardless of how pervasive the phenomenon is, it is clear from Dunning's and others' work that many Americans, at least sometimes and under some conditions, have a tendency to inflate their worth. It is interesting, therefore, to see the phenomenon's mirror opposite in another culture. In research comparing North American and East Asian self-assessments, Heine of the University of British Columbia finds that East Asians tend to underestimate their abilities, with an aim toward improving the self and getting along with others.
These differences are highlighted in a meta-analysis Heine is now completing of 70 studies that examine the degree of self-enhancement or self-criticism in China, Japan and Korea versus the United States and Canada. Sixty-nine of the 70 studies reveal significant differences between the two cultures in the degree to which individuals hold these tendencies, he finds.
In another article in the October 2001 Journal of Personality and Social Psychology (Vol. 81, No. 4), Heine's team looks more closely at how this occurs. First, Japanese and American participants performed a task at which they either succeeded or failed. Then they were timed as they worked on another version of the task. "The results made a symmetrical X," says Heine: Americans worked longer if they succeeded at the first task, while Japanese worked longer if they failed.
There are cultural, social and individual motives behind these tendencies, Heine and colleagues observe in a paper in the October 1999 Psychological Review (Vol. 106, No. 4). "As Western society becomes more individualistic, a successful life has come to be equated with having high self-esteem," Heine says. "Inflating one's sense of self creates positive emotions and feelings of self-efficacy, but the downside is that people don't really like self-enhancers very much."
Conversely,
East Asians' self-improving or self-critical stance helps them maintain their "face," or reputation, and as a result, their interpersonal network.
But the cost is they don't feel as good about themselves, he says. Because people in these cultures have different motivations, they make very different choices, Heine adds.
If Americans perceive they're not doing well at something, they'll look for something else to do instead. "If you're bad at volleyball, well fine, you won't play volleyball," as Heine puts it.
East Asians, though, view a poor performance as an invitation to try harder.
Interestingly, children in many cultures tend to overrate their abilities, perhaps because they lack objective feedback about their performance. For example, until about third grade, German youngsters generally overrate their academic achievement and class standing. This tendency declines as feedback in the form of letter grades begins. But researchers also have shown significant cross-cultural differences in youngsters' performance estimates--American children, it appears, are particularly prone to overestimate their competence.
APA
Losing in fair competition is a national security issue to the USA.
So set up some unfair rules to make US great again~~~ nice try~
Bottomline U.S is now losing and its losing hard.
👌👌👌 agree👍👍👍
America provided $TRILLIONS to the US banking, Auto, Airline, Insurance and on and on, industries. That's fair? I guess that's fair for the American tax payers. 🤣🤣
US banking is collapsing, the US is bankrupt, countries are not accepting the USD as payment anymore... what on earth are you talking about?
This is "Capitalist Propaganda" video. They want you think there is a trade war between China and America. Sure Donald Trump and Joe Biden has put minor tariffs on some Chinese goods. But let be clear America and China just did a record breaking $758 billion US dollar in single year. This like American Professional Wrestling it all fake!!!!
America does things for itself, and if you stand in the way God help you. Trade wars, Sanctions, Coups, revolutions are bound to come your way.
@jaxbronson9734 Today's America is only good at exporting broken culture. Y'all can't even decide who's a boy and who's a girl any more. We do not want our future generations to be as broken as the post Sexual Revolution America. Unwed parents, children born out of wedlock, transformer mutant children, why would anyone want to see their country turn into such a shitshow?
2 MORE sectors that’re missing: Military IC and MNMs😉
They don’t care American livelihoods such as medical care and infrastructure for the “General Public” except for the 1% ultra wealthy
What level playing field? When it is in favor of the American uneven playing field is ok but when Americans cannot compete it is uneven playing field!?! The whole world can see the American hypocrisy! Turn your back to the American!
This APAC adviser contradicts himself by saying that China should cooperate with US on GREEN projects and global warming but US is restricting China on GREEN cars and “green spare parts”. This is nothing to do with National Security but hurts America’s own initiative on global warming efforts.
Mind you why US enjoys so many years of LOW inflation and PROSPERITY while printing money like a drunken sailor with so many QEs. It’s because China is exporting “low inflation” to US over the years but not through “overproduction”.
Not wonder why Janet Yellen can run Fed and now Treasury from an esteemed Ivy League institutions but with such lousy economic argument (as her boss used to criticise about Trump tariffs in the last election). It won’t solve the underlying root cause problems but just passes the bucks to future US administration and US generations. Very irresponsible and selfish acts but this’s the reality of US politics !
American days are over focus on your homelessness and drug problem
So true
Americans celebrating the homelessness as freedom and democracy
When one has over 800 military bases all over the world, one is indeed creating security concerns on other countries. 😊😊😊
Biden slumps 100% tariff on Chinese EVs but there is zero Chinese EVs selling in the US. You figure why Biden has this tariff 😅. A sleepy old guy, what do you expect?
Don't fall for it, they playing you for oki doke.
Well said, Hilarious
Yes they do. Polestar ev sold in the us doofus
Yu got to be slow
All a circus show for November elections.
Printing dollars bills and exporting to the world the inflation created. Is this level playing field
If you're not interested in politics, some news might not be relevant to you. Trust me, politicians often don't prioritize the average person. My advice? Retire early, travel, and, most importantly, make smart investments.
You make a very valid point. I started investing on my own, and for a long time, the market was really taking advantage of me. I decided to hire a CFA, even though I was skeptical at first. Surprisingly, I outperformed the market by more than 9%. I thought it was just luck until it happened two years in a row. Since then, I've been sticking to investing through an analyst. That's how I managed to avoid politics, haha.
@@SophiaDuellman I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
@@SophiaDuellman I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@@CleopatraHartup-zw4io There are a lot of independent advisors you might look into. But i work with Nicole Anastasia Plumlee and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
But China told the whole world what they were planning to do and the US failed to counter that. Now the US is crying foul😅
Loosers have to claim unfair practices because otherwise they would have to admit that they inferior!
When you can't compete, hobble your competitor by whatever means necessary...This has always been US strategy...
US reminds me the bully in the elementary school
More like the bully that bullies the bully lol
Is subsidy good or not? If not, why not let China do the stupid thing. If it is good, why doesn't US government do the same thing?
They are, it's only bad because China is more efficient and beating them in innovation. Chinese subsidies are used to develop industries, American subsidies are used to buy back shares and raise executives' salaries. See the difference?
They’re focused on a proxy war with Russia and spending money on Israel
US government is doing subsidy, and it excludes EV with battery come from China, and China equally treats all EV manufacturers, domestically and externally, such like Tesla & Ford. And per each EV, US government’s subsidy is higher than what China Gov gives.
usa does it all the time, but it is hypocritical and double standard
When you have to use tariffs to stop or slow down others from progressing, then you ve lost.
America is not competitive in making cars. They lost against Europe and Japan, they lost against South Korea and they are losing against China. The US has to "save" the car industry every couple of years and now they only make SUVs and oversized pick ups. They should just admit defeat.
The APAC Advisors guy is talking from his other orifice. He stank of hypocrisy.
This Apac guy talks about unfair competition, he should talk about the chip industry in which they sanction China as if there is no tomorrow. They also force other countries to follow their action or else🤣🤣🤣when they are shortsighted and losing the game, they now want to change the rules LMAO
When you were not capable to compete, you said it was unfair. When you dominated the world, you said this was the rule of law.
Yeah, national security is an issue now only because the US can no longer dictate to its competitive rivals. Let it be known that other nations also have their own national security concerns, but the US selfishly disregarded them in its own favor .
😊there will be no EV industry in the US… the US is in self destruction mode
🤣🤣🤣
No ev no competitions. 😁😁
Tariff is tax on consumers.
sometimes more like poison
Ice Cream tax.
More tariff mean higher price for everyday end-user. How is that going to win? You killing us Joe😢
Tariff can't slow down China's economy but it will be bad for the American economy, American consumers will pay for it.
The shame of American politics think tanks.
When Trump initiates the trade war Beijing had been saying there’s no winner in a war. But Americans is a warmongers so Beijing had to retaliate
I thought the Americans said that winning trade war is easy!?! Hahaha, American government is incurring $1 trillion of debt every 100 !
American government is incurring $1 trillion of debt every 100 DAYS !
These experts deliberately ignore an issue: China's tax revenue accounts for 15% of GDP, and the US tax revenue accounts for 18% of DGP. The tax-to-GDP ratio is basically equal to the budget in GDP of the Chinese central government and the U.S. federal government. If the Chinese government subsidizes enterprises on a large scale, where did the money on subsidy in China come from?
Well I think it depends where US is putting this money so far US keeps sending tonnes of money to Ukraine and Israel I think this is first of all money that could do other stuff
Anyways it's just my opinion
China is exporting cars and Chinese are working really hard to make those cars.
USA is exporting national debt and us government is printing really hard that they didn't ban printing machine from China.
@jaxbronson9734 superior ? I guess it is oxymoron another time?
@jaxbronson9734what do you mean we watch kdramas. Not to knock Chinese entertainment but people still watch foreign entertainment. Korean entertainment is king now
@jaxbronson9734 superior culture? What is that? Taylor Swift, Pornhub, Mickey Mouse, KFC...? China has 5000 years of civilization. "America is the only country that went from barbarism to decadence without civilization in between" Oscar Wilde.
I've not seen a country whined so much in my life, and they called themselves world's greatest superpower, this must be a disgrace to the earth.
Exactly. No one talks about the role counterfeiting has played in the Chinese wmd attack to collapse us with the covid bio attack - i aint talking about organized crime, I am talking about the second biggest economy in the world funding projects to inject extra us dollars into the system to influence monetary policy (some of these countries using it as a reserve currency need another look too).
Warwick Powell is the panelist who is well grounded and talks sense.
Trade war worked against Japan in the 90s because US was the biggest market. I am not sure we thought it through this time around.
It's always fun to watch these bad liers struggle to square their lies
*China is always the best for various kind of cheap products but qualities are also well.*
Cos you can't afford high-quality China made product? Say nomore....
@jaxbronson9734 Then there is no need to impose tariffs on Chinese EVs - they are so poorly made that nobody would want to buy them. If you remove "oxy" then your last word fits you very well.
@jaxbronson9734
You are typing on one. You don't have oxy, only mo.ron...
Electric vehicles made in the United States are significantly more expensive than even better quality ev's made in China
“Now the world is different now. We need to consider national security… “ The world is different when U.S. is on the losing side …
Of course national security must be considered now that the US can't dictate to others. Free trade is good only when it benefits the US. That's the rules based international order all others must comply, according to the US.
We have to admit this American is very good at twisting argumentation. No matter how bad his country is doing is good and reasonable and no matter what China is doing is bad. Shame you.
Not that good apparently but what can others country do? If you disagree they will say u are against democracy by supporting communism but they act like a dictator towards others country
Grab anything in your house, read where it was made from. then you will see who dominates world trading.
It will change after decoupling and derisking.. once the supply chains are distributed to other countries
@@drmamu7777unless trade restrictions are imposed, after decoupling, most people will buy things from the cheapest source, china.
Made on earth .
@@drmamu7777 yes, you find now lots of goods from India, Vietnam, Mexico; but the raw material or simi-raw material are all from China... you would see the future, more expensive goods from nonChina. you would be happy, China would be happy too.
.....God creates the universe....and the rest ...made in China....
Chinese solar panel are fair priced, not like in the past suppliers , roi is not good. Now, roi is fine 5-6years
Sleepy Joe found that his toolbox is running out of tools.
China may sell him some high-quality pillow. That will help ~~ LOL
@@MAIJ1217 adult diapers.
Cuba: what’s the solution? Russia and China, etc
Well now in a particular industry, EV, the US losing ground, because they started late. Then they say this is unfair competition. Omg
Yep, that's America 😂
Anybody who knows anything about supply chains knows it takes many years to develop and as the guest said a lot of money. Why only now in 2024 does the US govt want to start secondary supply chains hoping these supply chains will be competitive, hoping to move manufacturing to the US when Boeing airplane parts are falling from the sky is hubris, Its simply 3 decades too late. US companies will soon be uncompetitive after this push for a US manufacturing resurgence.
China, will
Before, when I was naive, I used to admire the USA, now I feel shame of them.
A country with complete political failure and double standards.
Longlive China, carry on...❤
USA is borrowing a trillion dollars every hundred days 34 trillions and counting. Annual debt interest alone will soon reach one trillion a year, surpassing military budget for the first time. Recent debt auctions have been described as disastrous as buyers start to wonder whether they will be sanctioned or paid. Where is Washington going to get the money to rebuild infrastructures and reindustrialise?? As your guest said, it is easier said than done after 40 years of deindustrialisation. The infrastructures, supply chain, manufacturing knowledge, and work culture are simply not there regardless how much money you throw at it.
Why is subsidy not good? I am happy if some government can subsidise whatever I am buying so I can pay a lower price..
It’s good as long as those companies are hold by US, such as TikTok and Alstom. China is aiming to play a more important role in manufacturing and gain more profit, which threats rich countries’ benefits. Sooner or later, other developed countries will experience the same situation.
In China, consumers can purchase Tesla, Ford, Buick, Cadilac almost all American brands. In contrast, BYD, Geely, Changcheng, Chery, these Chinese brands are not available in the US market.
Unfair competition? US is also subsidising its industries directly or indirectly. When China was far behind, no one ever made any noise. US has lost its competitiveness. This is pure protectionism. It's great because American consumers will suffer. America is declining. Level playing field? Hahaha
Seoul! What climate changes are you talking about. The worst climate gas pollution country is USA
How will USA find electricity to all the Tesla cars?
Where do USA get fuel to it's atomic power stations?
Sanctions Russian Uranium, ban natural gas power stations. Where to get reliable electricity?
The World economy needs DE-dolarisation.
Only the can USA talk about trade unbalance.
Whichever country first produces a factory production line for mass produced efficient safe thorium reactors will win the trade war. Countries will align with China or India or the US if they are offered an expanded power grid of electricity at 10% current costs. My bet is on China. Their government needs to find productive jobs for their fast growing technology labor pool and will likely fund it. Also China’s government will regulate safety but not impede Thorium reactor development with overkill regulations
Don't fall for their propaganda Doug. These guys are tricking you.
@jaxbronson9734Where is it?
@jaxbronson9734 Bs !, US stopped all thorium research because of the nuclear arms race, weapons grade fissile material produced from uranium/plutonium.
China demonstrates the highest standard of human rights that one can expect to enjoy when their country develops without exploiting or colonizing other nations.
I would looooove to get an EV that cost 15,000 dollars instead of 50,000 dollars. Why is the US government not allowing this?
Trade war, China has a 500 billion surplus in USTrade, and tariffs don’t change that. It’s just revenue they need since we have a debt based economy
Election year, it’s all about domestic politics.
can't agree more~ all for votes
Yes, China subsidizes some selected industries, but those industries you are talking about are green industries including solar energy, wind energy, EVs, etc. Most Western countries do the same until they find that their techs fall behind and then they start to point fingers at China. Remember the pledges the countries have placed to combat rising temperatures on the earth. China is the only one that abides by the pledge. The US has done virtually nothing which is why it is so far behind in EVs and green energy production.
It is a logical result, China use money to subsidies production and business, so those sectors grow. US use their money on Military when they could do the same thing as China did, but the US took a different path. Imagine what happen if US also use the money to subsidies local business, things could be different.........
But not every country that subsidise its industry are as successful as China. This prove that subsidy alone can't guarantee success. America can easily subsidise all its industry if subsidy means success. Lol
I agree totally on US military spending but to be fair China is also building up a giant military and just as high tech.
US has lost even with its sanctions on China. This will help to increase the cost of living for ordinary American consumers.
The carbon emissions reduction initiatives are out of the window given the tariffs and sanctions on EVs and solar products in North America. 😭😭😭
26:03 ERROR !!! !!! !!! !!! !!! !!! !!! : “… for … you and I …” SHOULD BE “… for … you and ME …” - because here, SYNTACTICALLY, “you and I “ is the OBJECT of the sentence, therefore it SHOULD BE “you and ME” ; had “you and I” been the SUBJECT of a sentence (any sentence), “you and I” SHOULD BE “you and I”. Thank you very much. And you are very welcome !!! !!! !!! !!! !!! !!! !!!
Since WTO is not working for USA. We will quit and start another trade organization.
Dock workers who import Chinese products are also consumers. These dock workers will pay a higher prices for their consumption and have less business on the dock. Make less money but labor unions that turn out manufactured products in America are also consumers and will have to pay higher prices for consumption items. Although their jobs may be safer, everybody else in America will not like the high prices. We don't want these tariffs and I sure hope that Biden has something up his sleeve that we don't know about cuz from what we know it's not a good move for us. Sure hope he knows what he's doing
US and China are should work best together. No need call this things as tech war etc. It is just good thing to cooperate❤
USA made the rule of game. China joined the game. China followed the US rules and made better score. USA blames China didn't respect the rules.
For the 1st time in 65 years, I'm introduced to the concept of "over production". Only sore losers will do that.
Biden has been doing for his handlers 😂😂😂😂
Anything comes up, will go down.
The US is in irreversible down trajectory, unless took care of its domestic problem: debt, inflation, unemployment, wokeness etc
What trade war ? High tariff is just waving a non-contest white flag.
State subsidies on Chinese goods means US consumers benefit from Chinese citizens who contribute to discount on their products. 100% tariff on Chinese EVs means US consumers are prevented from enjoying quality Chinese products.
very simple two way choice. 1st, the USA keep its USD hegemony. 2nd, the USA lose its industry. there is no way to get currency hegemony and industry SAME TIME.
On the matter of fairness, the US is solitary in having sanctioned, embargoed, vetoed and tarrifed the most countries on this plane, while spreading over 800 military bases worldwide to keep other countries in check. Not to mention the fact the billions upon billions of dollars it has used to bailout industries and corporations to keep them from bankruptcy. If that is not unfair subsidisation of companies which would otherwise not have been viable business entities, then I don’t know what is.
US is dumping US$
China should ask what is a fair trade?
It seems like the Americans will be losing this one.
Tariffs are good news for US inflation. Weaththy nation is proud of spending more and American love overpriced goods. Its the pride of the rich
The US as any other nation has the right to protect itself from unlawful and shady trade by any means it considers necessary.
The United States should be concerned about its industrial standing, as it lags behind China in key areas such as steel production, electricity generation, machinery, automobile manufacturing, and shipbuilding. Additionally, the IT and financial sectors do not employ as many workers as the manufacturing sector, leading to an uneven distribution of wealth generated by high-tech industries.
@jaxbronson9734
I've heard about many new technologies-metaverse, RFID, Web 3.0, bitcoins. Yet, we still face hunger and wars, and our problems only seem to multiply. So, keep your AI; there will undoubtedly be new technologies tomorrow.
At the beginning of this century, US automakers had a head start in the development of the EV industry. The vehicles were were leased to customers in California, and the automakers found that they were well received. There was only one problem with the vehicles, they weren’t as profitable as conventional ICE vehicles and so they were abandoned. The US automakers literally killed the EV, and thereby opened up the field for China.
Today the Chinese are being punished for having had the foresight that Americans lacked.
Nowadays the only thing America is good at is complaining. And it has strong followers (EU, UK, AUS).
China✌
It is a different world because the USA cant compete with China ia many area so the USA is salty
There is no play in the US, so there won’t be level playing field.
The best way to criticize someone job is to do yours better. What prevents USA from reducing the cost and making their products better? Most USA's Internal Combustion and EV's vehicles are junk and people prefer Chinese vehicle to it period.
so when it comes to USA its National Security hahahahahaha
It's incredible how the europeans talk about being dependent on Russian energy like it's the most obvious mistake one can make.
But they completely ignore that the world has become frighteningly dependent on the US for virtually all financial transactions. If they want, they completely cut you off, and that's it, your economy is left is shumbles.
I mean, seriously, what kind of "national security" risk does today's Cuba impose to the US that they have to keep their sanctions on the island?
It's become completely irrational, just because the island's government is not politically aligned with the US, and the US doesn't lose much by applying sanctions to Cuba, they feel like they have the right to impose famine and poverty to thousands of people just cause, you know, they aren't losing nothing by doing it.
The West with its dysfunctional and selfish neoliberalism has destroyed its possibility of being competitive. Delivering infrastructure to campaign donor “friends” is proving very expensive at the moment. From now on we can only hope to reach “rock bottom”, in the hope that economic policy in the West will emerge more intelligent and objective and less greedy and income-concentrating. Those who work and produce need to be respected and valued, things that neoliberals, due to the reduction in easy profits, hate doing.
The real question is why does US not give more subsidies to American companies.
US is winning. In facts, looking at the numbers showing the economy of US is growing every year. More and more US's factories brough back onto US soil creating more jobs. US products now can compete with CN fairly, but also more advantage with better quality. US inflation is down to around 3% since US less dependent on CN. More regulations are helping to stop CN from getting US technologies. US is learning its mistakes with CN and trying to fix it, and it is working.
Industry new what they were getting into when they moved production to China but there greed got the better of them and moved there anyway now they’re crying about it and making things a lot more expensive for the average Joe, people with fixed incomes and people who don’t make a lot of money. Midwest heavy industries we’re decimated in the 80s and 90s when they were off-shored but no one complained about back then
We are promoting green energy but Western countering China's progress in the sector.
12:40 finally an unbiased australian, the usa is the most unfair one
US playing the short game, China playing the long game... This is just embarrassing... If you don't change the minds of the people and all get them to see the same vision, you're essentially restarting your progress every 5 years... China progress is consistent because their people have been properly doctrined.
Steven Okun is being so disingenuous. If we wanted these industries to thrive in the US, then our focus would be on funding our own industries, not putting tariffs on China. The cooperative culture in Chinese business practices is not theft, they just don't have that stingy and selfish patent culture that makes innovation and competition so hard in the US. I'm not particularly a fan of lithium products and "green" consumerism, as degrowth is the best way for our future, but our policies with China are just absurd. So much of the stuff that we have purchased in America for years and years and years is made in China, while I recognize that this is on electric cars right now (of which there aren't very many coming to the US from China), a trade war will absolutely have a disastrous effect on the everyday person if we keep this up. A lot of US made products are made with prison labor too, I'm not for enslavement personally, I don't think that American production would be much better, not to mention that the factories would all have to be built over here. I know China has some really horrific labor practices too, there's not many good options for the American consumer.
No, China does not have horrific labor practices. This whole fiction about "forced labor" in Xinjiang is just that - propaganda used for trade war. The UN has recently demanded that the US lift its illegal sanctions on Xinjiang, but this has not been reported in the western MSM. Your ideals about China is all messed up by your own presstitutes.