"If you look at what's happening with trade in China,
it hasn't been fair for many, many years."
When President Trump rails against China,
he says things like, "Our country is being taken advantage of,"
or, "We lost years ago by presidents and others
allowing this to happen."
He's probably referring to the past four decades,
when China has grown faster than any major economy in history
and gone from a poor, developing country
to an economic powerhouse that is challenging America's
spot at the top of the international food chain.
"Its emergence as a global power was so sharp and so extreme,
faster than the world can handle,
in some ways faster than China can handle."
The U.S. and other Western nations
kick-started much of China's rise by opening up trade.
What they haven't figured out
is how to get this fundamentally different economic system
to play by free market rules.
A pivotal moment came in 2001 after 15 years of negotiations.
China joined the World Trade Organization,
which sets the rules for free and fair trade
between member countries.
"All of the countries that were in the club at the time
put enormous demands on China for what they needed to do."
The Chinese committed to sharply lower tariffs
and reduced some of the government's role in how business gets done.
But they argued then, as they still do now,
that China is a developing country
and so should be held to less stringent free trade standards.
The hope was that these first steps
would lead to even more sweeping changes.
"Why did we assume that?
The experience of communism was through the lens of the Soviet Union
and its satellite states, which was ultimately not a success.
And so the presumption was,
China's going to want to become like us,
more market oriented."
"After China joined the W.T.O. in 2001,
you saw this enormous surge of Chinese exports
to everywhere in the world,
and to the United States in particular."
"They were kind of an elephant hiding behind mice with respect
to other countries in global trade negotiations at the time."
The U.S. and other countries
complained that China was not opening its markets enough,
and keeping the value of its currency artificially low
to make Chinese exports more attractive.
"China has been making great strides
using tools that are really not acceptable
under the global trade system."
China has continued to operate as a centrally planned economy.
The government owns, influences or subsidizes
major industries, giving them an artificial competitive edge.
There are heavy restrictions on foreign investment,
and foreign companies are pressured
to share their technologies.
"China has become more market oriented,
but dating back to probably 2007, 2008,
I think it was recognized that China wasn't on the path
to become more like us.
And so then countries began to think about, well,
what do we do instead?"
"Some view the rise of Asia-Pacific
with suspicion and fear.
America doesn't."
Enter the Trans-Pacific Partnership,
initiated by Bush, signed by Obama.
"When implemented, It won't just boost trade
and support jobs in our 12 countries.
It will help set stronger rules for trade
across the Asia-Pacific."
Put less politely, It was also supposed to be a bulwark
to China's growing economic power.
"The idea was that China would want to join this great trading pact,
and so they would have this incentive
to reform their economy."
"This is the one that President Trump ripped up
on his third day in office."
"The first one is withdrawal of the United States
from the Trans-Pacific Partnership."
"I had seen the erosion of popular and congressional support
for trade for many years.
But I'd never seen anything like Donald Trump."
"Our founding fathers understood trade
much better than our current politicians, believe me."
Trade is generally accepted by economists as win-win
for countries on the whole.
But Trump says that China is winning
and the U.S. is losing.
"He and people in his administration
argue that past approaches to dealing with China haven't worked.
It's not actually that profitable to negotiate with them.
We need to focus on this much bigger trade measure,
and then we can really hit them with a very aggressive,
forceful action."
"He seems intent on generating a moment of crisis."
"We put a $50 billion tariff on, then we put a $100 billion tariff on.
And you know at a certain point, they run out of bullets."
But dynamics have changed.
Today, China sees its economy is strong enough
to withstand almost anything the U.S. can throw at it.
For more infomation >> Democrats struggle to find common message - Duration: 2:33. 
For more infomation >> Google workers quit over company's work with Pentagon drone project: report - Duration: 5:37. 
For more infomation >> PBS NewsHour full episode - Duration: 56:55. 
For more infomation >> Al-Sadr bloc leads in Iraq parliamentary elections - Duration: 2:01. 
For more infomation >> LIVE: Aliso Viejo Deadly Explosion - Duration: 1:07:25. 
For more infomation >> North Korea Warns President Donald Trump Summit Could Be Called Off | NBC Nightly News - Duration: 1:50. 
For more infomation >> Severe Weather Causes Rush Hour Chaos Along The East Coast | NBC Nightly News - Duration: 1:42. 
For more infomation >> Mira la incómoda broma que le hicieron a Marjorie de Sousa sobre Julián Gil | GYF - Duration: 3:31. 
For more infomation >> Le cayeron a latas: El Gordo sufrió un ataque similar al de Mario Quintero - Duration: 1:14. 
For more infomation >> Comenzó la concentración del Tri con 11 jugadores - Duration: 0:49. 
For more infomation >> Esperança no auxílio de Deus (Homilia Diária.848: Quarta-feira da 7.ª Semana da Páscoa) - Duration: 5:37. 
For more infomation >> Officer helps bride-to-be find missing ring - Duration: 2:25. 
For more infomation >> Mannequins inside SE Houston home is turning heads - Duration: 2:14. 
For more infomation >> Acadia Parish Crime Stoppers: May 15, 2018 - Duration: 1:32. 
For more infomation >> 'Why do people treat me like I'm nothing?' Teen living with rare disorder discusses bullying - Duration: 3:56. 
For more infomation >> La Verdad Oculta De Thor - Duration: 11:11. 
For more infomation >> #OffScriptOn9: Should colleges contact parents about students struggling mentally? - Duration: 4:22. 
For more infomation >> 강수지 전남편 황정빈 이혼사유 딸 사연 들여다보니 - Duration: 3:27. 
For more infomation >> 5 Dicas de Plantas que podem ser usadas para Acabar com a Ansiedade! Naturalmente Saudável - Duration: 4:05. 
For more infomation >> Seat Ibiza 1.0 EcoTSI 95pk Style - Duration: 1:12. 
For more infomation >> "哥的胸肌"？杰伦，你这是咋了？ - Duration: 4:07. 
For more infomation >> 退出伊核协议有何坏处？特朗普遭自己人泼冷水：俄中将成为赢家 - Duration: 4:00. 
For more infomation >> 本周综艺收视率排名公布：《奔跑吧》五连冠，《快本》居榜首 - Duration: 2:17. 
For more infomation >> 《知否》《扶摇》6月同日开播，杨幂PK赵丽颖，支持率竟一边倒 - Duration: 1:30. 
For more infomation >> What's the worst thing Charle...
For more infomation >> CITROËN E-MÉHARI 2018 : LA PLAGE ET DÉSORMAIS LES PAVÉS p1 - Duration: 10:34. 
For more infomation >> LA NOUVELLE SERIE 8 SERA DÉVOILÉE LORS DE LA SEMAINE MANCELLE - Duration: 2:05. 
For more infomation >> ALFA ROMEO : AU PAYS DES « MERVEILLES » DE SERGIO - Duration: 6:09. 
For more infomation >> Ep. 10 - "Training Ground: Influenced States" | DYNASTY WARRIORS: GODSEEKERS - Duration: 14:59. 
For more infomation >> Ep. 6 - "Training Ground: Attack Direction" | DYNASTY WARRIORS: GODSEEKERS - Duration: 12:23. 
For more infomation >> Ep. 9 - "Training Ground: Movement Restrictions" | DYNASTY WARRIORS: GODSEEKERS - Duration: 7:09. 
For more infomation >> Ep. 7 - "Training Ground: Long-Range Attacks" | DYNASTY WARRIORS: GODSEEKERS - Duration: 7:58. 
For more infomation >> Ep. 8 - "Training Ground: Unit Type" | DYNASTY WARRIORS: GODSEEKERS - Duration: 11:02. 
Không có nhận xét nào:
Đăng nhận xét