Jay Shambaugh, under secretary of the U.S Treasury for International Affairs, joins CNBC's Charlotte Reed from the G7 Finance Ministers Meeting in Stresa to discuss U.S.-China trade issues.
China approach to sell cheap,affordable goods to the world is bad ? USA approach to sell expensive goods to the world is good ..? I am a Malaysian and we mostly buy the cheap affordable goods from China. We are thankful that our standard of living had shot through the roof due to this reason. USA can sell all its expensive goods to Americans. A doctor consultation cost $60 in USA. But only $5 in China. China had transformed its economy to be so competitive. That’s why USA have millions homeless.
Medical care is super expensive and this of course counts to boost the GDP of US. So don't be surprised to to see many poor people in so called rich countries with high gdp
It is disruptive the west can not allow China to take control of critical sectors like green energy; China took control of the solar panel it will foolish for USA or Europe to allow that for electric cars and clean energy
Overcapacity is not a problem to the countries that don't produce EV cars (which is most countries in the world). Definitely, for consumers, that is not a problem and, on the contrary, Chinese overcapacity is helpful in combating inflation.
It is most ridiculous on the subject of " OVER CAPACITY" . These congressmen is supposedly highly educated and with IQ above 100, House of Senate & Congress we can't help it but laugh at your stupidty and your exceptionalism.
Is this moro... guy serious? Externalizing all the blame. If I were the interviewer, I would ask him, if China was the one who initiated sanctions against the collective west first, you won't retaliate at all?
