Prof. David Kotz argues that the trade war is counter-productive for everyone, including the US, because it does not include a plan for an industrial policy. The conflict foreshadows increasing unresolvable tensions between the two powers
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Obviously Trump is trying to keep the US dominance in Asia by slowing down the Chinese GDP.
Brilliant interview, it gave lots of great insight.
This Profesor says: "China is now in mid-level of development". Hahaha… Really? China is not only eating up the complete US economy, its techno monopoly and its military power, but it is also rapidly taking possession of the rest of the world's market, mining and strategic locations! The Silk Road is by no means a joke, you know? And how about China's allies: Russia, Turkey, Germany, Iran and India… while the US has no allies left?
Dear Profesor, How on earth can call such situation a "mid-level development"?
Trump all the way.
China has a 45% savings rate….if push comes to shove…China could survive without usa…but Usa would fall into massive hyperinflation and depression.
For China, it is meaningless for China to grow faster. It is just money grow money. They do not wanna end up like Japan from 6 trillion drop to 4.8 trillion after a overheat economy.
It is natural, China at 12 trillion growing at 6% while US was 4%.
If China would pay their workers a fair wage tariffs wouldn’t be needed to incentivize them to come to the table. They try to undercut western wages and so become a manufacturing Mecca and while this is technically legal it’s beyond underhanded and exploitative for the vast majority of workers. Yes many have been lifted out of poverty on the coasts but inland tells a different story. China’s has its rust belts and depressed areas just as the US does. While I agree the US has been hoarding its wealth that isn’t the fault of the US body politic but the Oligsrchs who hoard that wealth on the form of cash. You don’t fix that issue by paying people below board wages I. Order to incentivize said Oligsrchs to move operations off shore
Sensible interviewee that makes excellent well thought out points. He gives a simple understandable researched answer every time.
Would you say that trump’s tarrif war is evidence of trump’s industrial policy. Er lemme make it like I had to 🤔 think. No.
Free public housing can lower costs for workers and increase consumer demand in china and beyond
Chinese GDP was growing slow before the traders war… Don't give credit to the conman.
Capitalism has no future in China or anywhere else. They need to transition quickly into a more inclusive economy beyond capital
Trump ties are going to get so much more expensive!! Oh no!! All you Trump voters, who have never even owned a tie, or ever trained for a job that would require one (higher paid jobs) will just have to swallow the cost of this AND the quadrillion dollar war on Iran, I guess. "Shrug"
Vote blue on Tuesday, kids. Or the entire world goes sideways.
It is 2008 economic crisis come home to roost.
If you want to lose a friend, just lend him money.
35 years ago the US was worried that Japan was going to overtake it and become no 1. Now it is China. The more a country develops, the more its growth rate slows down. There is no exception to this empirical regularity. Show me one economy that managed to beat this.
The rest is fluff, and there are US elections to be won… China has got a 'president for life' so such worries are not as pressing at their end :-)) There is this Aesop fable about the fox and the sour grapes. Expect to hear more about it from both the US and China. The US is no longer the undisputed hegemon as it has to content with a number of regional powers with all this entails for the USD, trade… so it has to change its tune to justify its existence and modus operandi. Conversely China can no longer lift 400 million of its people out of poverty so the party has to change its tune to justify its existence and modus operandi. Simples ;-))
yes it is, but China will always have a higher GDP , bc they have a slave labor workforce. Which the US is secretly trying to obtain with there mass illegal immigrant movement. Which will continue to grow. Read David Rockefellers statements on communist China, it will fucking blow your mind, he loves it , certain aspects of it anways.
Trump should pay for slow down of World’s GDP. He should be man enough to own up and pay for it once verified Countries are not currency manipulators
And btw, this professor doesn't know shit. The "tariffs" are a joke. But he sits there saying they're real. Watch; a couple months from now they'll be ancient non-history.
People are just flat out messed up in this country anymore. They've lost the ability to think…do anything for themselves of substance. The only person I see in the public domain who actually seems to have his feet on the ground and his head and heart "In The Right Fight," is that amazing man, Reverend Barber of the "Repairers of the Breach" movement. I swear, he's the only human I've heard in years that doesn't have a lie come out of his mouth every time he opens it.
This country is just flat out messed up!
This is the 3rd good thing trump has done
It"s up to the people to take back control of our puppet government from the monopoly minded corporate interests that are steering it toward growing conflict with the rest of the world.