US Risks ‘Forever’ Trade War With China, Roach Says

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Stephen Roach, Senior Fellow at Yale Law School and former Morgan Stanley Asia chairman, discusses his concerns about US trade policy toward China and his latest assessment of the Chinese economy. He speaks with Yvonne Man, David Ingles and Stephen Engle on "Bloomberg: The China Show."
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1 июн 2024

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Комментарии : 903

@hpmoxie4660 23 дня назад

One of the few times Bloomberg allows somebody to tell truth

@kennethli8 21 день назад

Roach has been dead wrong about China and the US economy for the last 15 years year over year.

@minibobjhu2523 24 дня назад

Finally, a guest who owns common sense and knowledge…rare these days on Anglo-Saxon media when covering China

@tooltalk 22 дня назад

He's a fairly well known Cee See Pee plant.

@redneckscumbags4422 22 дня назад

@@tooltalk you're a Cee Eye Ey plant?

@ibcyt 20 дней назад

@@tooltalk And you are well known NSA plant. 😂

@VictoriaEvelyn 20 дней назад

US-West have friends/advisors who do not have their best interest some of Indians is One of biggest cunning jackals masquerading as allies, China is Still very clear about their intentions.

@genelarson6849 19 дней назад

The anglo Saxon term tells where this moron is coming from

@joey3291 24 дня назад

US doesn't want free trade when they can't compete... and 'Rule-based order' is the new fashion🤣🤣🤣

@tedmoss 24 дня назад

Rule based since we ended WWII.

@Sep-ty9hl 24 дня назад

@@tedmoss Then apparently free trade has been taken out from it.

@jiangmingliang71 23 дня назад

can someone pls teach Blinkin grammer: "Rule-based" as an adjective, and not "Rules-based".

@tooltalk 22 дня назад

When is China going to allow foreign battery competitors to compete in China's local EV market?

@joey3291 22 дня назад

@@tooltalk When didn't China allow that? The problem is those foreign companies do not offer competitive options.

@gz6x 26 дней назад

Tariff is a hidden tax, but unlike tax it is politically favorable.

@annan7728 26 дней назад

It is the money that government takes from the businesses. It is the punishment on the business.

@larryc1616 26 дней назад

Yes true. It's a bipartisan sport to hate on China for the happiness of laypeople while they complain of inflation.

@pgdaszzz7399 25 дней назад

@@annan7728 Or consumers, in this case

@annan7728 25 дней назад

@@pgdaszzz7399 Money transfers from the consumers and businesses to government.

@rhena229 25 дней назад

Yes paid by consumers.

@mysticalwind4632 25 дней назад

I only wished US politicians had some common sense like this man.

@vincenttay2812 23 дня назад

The root causes of the US problem are the carrot head politicians 😅

@vgstb 21 день назад

Don't get your hopes up too high, you will be disappointed over and over and over again. All the US political landscape has to offer the voter is geriatric, dementing old sods that are deaf for the urgent needs of the American people.

@nancylove8360 20 дней назад

US politicians are bought by Israel. What do you expect?

@jackychen5578 20 дней назад

American politicians have common sense, but they are controlled by various interest groups and have to do things that go against common sense to get funds. This is the beauty of American democracy, so China does not adopt this stupid politics.

@thejeffinvade 26 дней назад

Green technology Overcapacity? We need all the capacity we can get to limit climate change 🎉🎉nice to hear that from an American

@ericzhou-y4t 25 дней назад

The problem is tariffs will not USA manufacturers more competitive. USA has plenty of oil and has no motivation of clean energy. On the contrary, China has energy crisis and puts all efforts in pushing the limit or energy industry. China wishes to use technology to overcome China's greatest national security threat. Now they want nuclear fusion and mining He-3 on the Moon.

@joey3291 24 дня назад

clear hypocrisy...

@lee123-it4si 24 дня назад

Because US can't compete with China, so they just made up this lousy excuse that nobody with a primary school degree really believes...

@tasreasfatemsa8266 23 дня назад

Still drive F150 to office work,alone.

@jeffrucks4477 22 дня назад

Cancel green.

@nerenahd 25 дней назад

So rare to see a rational person like this gentleman these days. It's a shame 50%+ of the US population won't listen.

@Leah-ju8ht 25 дней назад

...perhaps it's because the populace is tired of word salads coming from congress The crop of politicians in congress have to be the most derelict in US history

@titusp9488 25 дней назад

Try 90%

@mariajiao4855 25 дней назад

Try 95%

@vincenttay2812 23 дня назад

Never mind if they are rational or not. China going to decouple from the US forever

@ssuwandi3240 22 дня назад

Most Elite schools Professors are indeed very biased these days. This one is truly a rare Gem esp in Yale and made it into this biased channel

@unifieddynasty 22 дня назад

Hong Kong's wealth came from funnelling and facilitating trade between mainland China and the first world. With China's opening up, Hong Kong's decline in prominence was inevitable. But this does not mean that Hong Kong is going to cease to be important.

@kimpeater1 20 дней назад

In this case, the question is more of a political one than economic. HK is accustomed to a meritocracy. However, it now exists within a nation-state where Loyalty To The Party is the most important factor.

@unifieddynasty 20 дней назад

@@kimpeater1 Since you are acknowledging that Hong Kong's economic growth is a fait accompli, would you like to expound on exactly which countries in the world do not first and foremost prioritize loyalty to the country for its public servants?

@kimpeater1 19 дней назад

@@unifieddynasty nice but invalid strawman attempt. Loyalty to the Party in HK applies to the formerly meritocratic business community not public servants.

@kimpeater1 19 дней назад

@@unifieddynasty nice strawman attempt but invalid. Loyalty to the Party in this case is being imposed on the formerly meritocratic business community, separate from the public servants.

@asnark7115 19 дней назад

@@unifieddynasty All of Western "public servants" work for a set of interests other than the nations thy nominally "serve". For instance, all of Washington DC in the United States anwers only to the City of London and Beijing. Also, you have "country" confused with "government".

@douginorlando6260 25 дней назад

After watching the financial system being used as a weapon against users, China has no choice but to create a safe international alternative … and they have chosen HK for this role because it already has international roots.

@tooltalk 21 день назад

You mean like China's weaponization of rare earth metal against Japan in 2010?

@kimpeater1 20 дней назад

@@tooltalk Any nation with precious resources will guard them. That is natural and expected. However, the US weaponizing their SWFT network is something very different because it is a *voluntary* and *trust-based* network. No one has to join the American financial system, but most of the world does because the US guaranteed fairness and equality. This network benefits you as an American greatly. It makes your inflation lower than it should be. It makes oil cheaper for you than it should be. But once they weaponize it, then that trust is severely damaged. The Chinese have their competing financial network, and they're attracting more users because they don't pull rugs like the Americans do, at least not yet.

@polysporin8332 26 дней назад

tarrifs are BS. BYD new car that can go 2000km on a single tank of gas, for $14k. that is what the US is missing out on. Everyone in the US is used to paying a high price on cars, with lower technology.

@Meowmeow.age.6 25 дней назад

BYD cars are cheap Chinese junk. In Mexico they are already 50% off and no one wants them still.

@Leah-ju8ht 25 дней назад

"BYD new car that can go 2000km on a single tank of gas" "Amazing"

@user-wp4mp7yt8n 25 дней назад

Dude, it's too much.BYD is good, but it's not that good.Why didn't you say 20 thousand kilometers?

@miaomiaotoo 23 дня назад

I watched the test drive video, the final number was 2409 km! That is crazy! I can fill it up & forget it about until 6 months later charge again 😂!

@user-gn8nf7fv1t 23 дня назад

@@user-wp4mp7yt8n事实是2400多公里..BYD Seal 06 还有QIN Ｌ你可以搜索一下

@peterroberts2952 25 дней назад

Simple, avoid the US as much as you can.

@tooltalk 22 дня назад

good idea! China is going to miss out on the most lucrative auto markets, the US/EU, in the world!!

@user-ok6re8gv1q 21 день назад

Survey 6mths ago of europeans showed 24% willing to buy China EVs. last month 50% willing to buy chinese EVs. De-risk from nonsensical schizo USA policies. De-risk from US$. De-risk from USA war culture. The 80% global south is heading there with BRICS begging China and Russia to get alternate things in place for everyone’s sake. Everyone wants EV ChinA Made bcos technically everyone admits that they are the best. This is HARD to say for some people.

@lordbendtner7021 21 день назад

@tooltalk China has more drivers than US population. Try again.

@tooltalk 21 день назад

@@lordbendtner7021 : sure, China sell more units, but less value. The avg price of a new vehicle in China $20K vs. US $50K. Even if China sells twice more cars, the US market is still greater in value.

@annonetwothree1177 21 день назад

@@tooltalk Hahaha... Such arrogance and ignorance is hilarious. Period.

@amatuer2 26 дней назад

Roach is an excellent guest. Glad he came on the show . And his statement " that not many politicians have taken an economic course " is spot on!

@jedi10101 26 дней назад

applies to both sides. politicians in democracies & politicians under the thumb of autocrats in communist states or dictatorships.

@akakakakakak3084 25 дней назад

Yellon is an economics professor.😅

@rhena229 25 дней назад

@@akakakakakak3084she’s employed by Biden; hence, can’t speak the truth anymore.

@fongcheongyat1446 25 дней назад

@@akakakakakak3084Even as an economic professor she has to act and talk stupid to keep her job.

@TheBooban 25 дней назад

He doesn’t even know the difference between a trade deficit and a budget deficit.

@CanTho2022 20 дней назад

“ALL politicians have NEVER taken an economic class!!” That is soooo true!! 😂

@williamlee2468 24 дня назад

The problem with the USA & Europe is that they don't know their basic Economic principles of Comparative advantage. China gets things done whereas other countries in the West have to debate everything before they do anything.

@nonyabizness997 21 день назад

No the western leaders don't have to detabe things and do them slowly if it's of enough priority to them!! Did you get any consultation or much debating before they decided to invade Iraq? To bail out the big banks with your tax payers money? To send weapons and monies to Ukraine and Israel? Wake up and admit you are just not the priority!!!

@vgstb 21 день назад

Yes, but at the same time, the US and the EU have had the opportunity to pillage their respective colonies for ages.

@tooltalk 21 день назад

@@vgstb Oh the CCP's national motto -- the century of humiliation is alive and well. LOLL

@CanTho2022 20 дней назад

@@vgstb….that era is long gone. Amerikkka USED to be powerful….NOT ANYMORE

@kimpeater1 20 дней назад

Just knowing about comparative advantage doesn't really matter... You can't just double your population overnight, which is at the core of China's comparative advantage. Only time will tell whether this current massive population focused around relatively tight age range could become a problem later on...

@daoistwanderer2671 21 день назад

U.S. is losing time with missteps after missteps. From industrial policies to trade to geopolitics. While at home mired by all sorts of problems from immigration, border security, gun control, education and dilapidated infrastructure. Americans are suffering.

@gcoffey223 20 дней назад

Gun control? As in just have the government armed and trust tgem to protect you??

@olliejohnson1733 25 дней назад

America needs more people like Stephen Roach who knows what he's talking about.

@thomasrogers9146 25 дней назад

THERE IS A HUGH DIFFERENCE BETWEEN POLITICIANS AND LEADERSHIP. AMERICA HAS POLITICIANS AND CHINA HAS LEADERS.

@godzillamothra5983 26 дней назад

China is resetting its economy, gone the growth model that rely on property bubble, and export oriented economic model is also being restructured gradually to more domestic consumption based and high value added export oriented model. China knew that free trade is facing headwind, so the old model of exporting low margin goods is unsustainable. That's why China is investing heavily in new industrial revolution, like renewable energy, robotics, chips, 5G, etc. Of course it won't be painless, there will be a lot of strain and pain for the next 10 years. For HK, HK need to remember, it is a gate to China first and foremost. Without China, HK is a gate to nowhere. Needless to say, HK prosperity is tied to China. For the past few decades, HK have practiced unbridled capitalism that brought wealth to HK, but also high inequality, especially in housing sector. This inequality created resentment toward central gov. There is an easy way to solve the housing problem, let HKers who can't afford housing to purchase housing in Mainland. Pearl Delta River Region integration is the solution to HK problem. But this will take time.

@UKkenny 25 дней назад

HKers have been buying properties for decades in the great bay area ..recently , they have allowed the banks to faciltate the fundings of transfers from within a HK bank to mainland banks for house purchases .

@user-nj3jw6to5f 25 дней назад

China views the United States as its enemy and its ally; the United States' friendship with China is a one-sided fantasy

@pandagrandpa 22 дня назад

could not agree more, very insightful.

@MASMIWA 22 дня назад

China wants to escape the middle income trap and become a developed country. Along with China's rise, China wants the under developed countries to also aspire for economic well being. By doing so, China thinks world peace can be achieved. The fly in the ointment is the US. The US believes that as the hegemon of the world, it rules the world and will do anything in its power to stay number one.

@mmojave 22 дня назад

The capitalists are still having a strong grip over HK economy. And there are also a lot of "Anti-China" govt administrators in HK govt who drag their feet when it comes to change for the good of HK especially in providing public goods & services (like land reform, urban planning & healthcare).

@usmankhalid9438 26 дней назад

As a American citizen, i am just thinking why 🇺🇸 have problem with every single country on this planet earth🌏. Just why bro 😕.

@user-lb2wi2bj9r 26 дней назад

the planet earth 🌍 is evil

@67buzzo 26 дней назад

The U.S think they can stay number one by bullying every country..But they are uniting…

@jchien 25 дней назад

Not true.

@ThebigJJ621 25 дней назад

Only the countries that it couldn't directly influence. Cause well, the good life we have in the US the past 50 years really depended on the dollar being the world reserve currency and us being able to use that to print and borrow trillions of dollars.

@cheongseeksam3502 25 дней назад

Incompetent leaders who can't lead America to be on the right path, need to fool the masses by directing the blame on China. Hate blinds voters.

@richlau531 22 дня назад

The only high paying job in the world that does not need qualification is govt ministers.

@ducksteinphedra 25 дней назад

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@yuppyhoo 26 дней назад

Finally, an adult in the room. The US needs to: - invest in STEM education to grow its manufacturing industries so as to export more. - reduce overseas military bases to reduce the deficit

@BabaYaga826 26 дней назад

Agreed. 💯

@Cotswolds1913 26 дней назад

Overseas military bases + the troops stationed on them are about $150 billion a year, and that's if you got rid of the all the associated forces, and got rid of all of it, which would be monumentally retarded. So in reality you're talking about tens of billions, against the backdrop of a deficit that's nearly $2 trillion.

@abc-mp5er 26 дней назад

Plus: stop smearing others and lying to the people all the time by the MSM and the politicians.

@kevinxie5762 25 дней назад

No, the US should lower their expectations on salaries. People haved earned more than they should for a long time. No matter from which country, people can produce the same products at a much lower cost. You cannot keep this forever. Innovation is important but not that important.

@Cotswolds1913 25 дней назад

@@kevinxie5762 You have the opposite way round. China should allow its currency to appreciate, let its people start importing more, stop subsidizing so much and let households take home a larger share of the pie, and thus the manufacturing sector shrink. We’ve subsidized your development for decades now, you guys like to say you’re a superpower now, so time to get up and walk on your own two feet like a big boy.

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@Kotak8 20 дней назад

All consumers in the USA and all other Western countries are paying high prices for the U.S. sanctions and high import tariffs.

@rifleman42051 26 дней назад

Trade Wars lead to Real Wars!!!!

@TacticalMayo 26 дней назад

That's inevitable

@annan7728 26 дней назад

It terminates capitalism.

@Cotswolds1913 26 дней назад

China was already waging a trade war with us, we merely responded. And not responding, that is to say continuing to empower Beijing, also makes war more likely.

@cheongseeksam3502 25 дней назад

@@Cotswolds1913 how did you come to the understanding that China is waging an economic war on US? Inferiority complex?

@520hong 25 дней назад

@@Cotswolds1913 What a retarded. Who started the trade war?

@fatdoi003 23 дня назад

HK can be BRICS financial hub.. also the earmarked development of the southern great bay area will boost opportunities for HK

@308_Negra_Arroyo_Lane 22 дня назад

All the banks that would be involved in BRICS are in the mainland, there's no need for HK.

@demomano9915 20 дней назад

No. Population of HK will spread into the mainland. Hongkongers are already going over the border for shopping and food as it is cheaper and for better service. HK will not be the BRICS hub for anything too many running dogs living there.

@nellyjohnson7316 26 дней назад

Slapping tariffs on Chinese products will lead to higher inflation rates here in the US.

@annan7728 26 дней назад

It is the punishments on American Businesses and the cause of inflation.

@Cotswolds1913 26 дней назад

in the short-run sure, but also more economic growth, less need to issue debt due to a lower trade deficit, more wage growth etc, and then in the long-run don't even have the inflation anymore, with much more export opportunities because we establish supply chains with developing countries who actually allow us to sell to them in return and don't get free access to our R&D every year.

@jedi10101 26 дней назад

opportunity for local companies & entrepreneurs to step-up & build!

@jbranche8024 26 дней назад

Tariff or Tax. But direct me to where is the Tariff/Tax money go. I have Never heard a Tariff reduces our federal wage tax, builds roads, supports social security or reduces the National Debt. How can the government place a Tariff but Not have to detail where and what it will be used for.

@Cotswolds1913 26 дней назад

@@jbranche8024 most federal programs are payed for from general revenue, you don't assign each and every tax to a specific spending outlay. Only ones we do that with is payroll taxes for social security, medicare & unemployment insurance.

@ChinaSongsCollection 22 дня назад

Hong Kong may or may not be over. But if it is over, it's because of the US placing artificial sanctions, boycotts, and whatnots on HK. Not because of China.

@308_Negra_Arroyo_Lane 22 дня назад

Hong Kong was always going to be over. Much of its appeal and function was as a conduit into China. A lot of that can simply be handled within China now.

@ChinaSongsCollection 21 день назад

@@308_Negra_Arroyo_Lane Yes that's also true. But I'm pretty sure that if the people of HK were not so rebellious and prone to anti- China riots, the mainland government would do everything it can to prop up HK. So HK's status and importance would diminish, but it certainly would not be 'over'.

@navado75 25 дней назад

When our economy is built on consumption you will forever be at a deficit.

@gcoffey223 20 дней назад

When your central bank is private and owns your currency, you will forever have a defecit

@hello0704 23 дня назад

Koreans never forget to thank many countries for their help during the Korean War. Even children.

@gcoffey223 20 дней назад

Do you travel to Asia much? Koreans are some rude, racist mo fos that hate Americans. Not the older generations, but the one that benefitted growing up and their kids when we saved their ass

@umarjongi3590 23 дня назад

It's not forever, when china stop trading in dollar is gonna be over.

@sepilokfui 26 дней назад

he is so good with his info, data and answer that the hosts seem careful to ask questions... respect for the intelligent and knowledge!

@kennethli8 21 день назад

Roach has been dead wrong about China and the US economy for the last 15 years year over year.

@HanS662 26 дней назад

@0:45 the leaders call that “strategic ambiguity” which causes me to wheeze with laughter

@user-xt6mb1gg5r 20 дней назад

I am so glad that the truth being told in the USA’s media!

@linkxiao2237 25 дней назад

这也不准卖，那也不准卖。我看了很多美国人说车很贵，但是我们的便宜汽车又进不来，最终损害的是美国竞争力。

@gezhang-nu2vv 19 дней назад

美国车不应该很便宜吗？这次去美国，基本的生活物价确实非常贵。不知道是不是加州的原因。

@dennislee4797 22 дня назад

How many lesson do you need before you know that politic and economy dont go hand in hand.

@eymeeraosaka2954 26 дней назад

Good analysis by Stephen Roach.....A man I respect...

@albertcadgame8314 22 дня назад

he only told half truth, ie. the 1st part of China beating US in almost every industry sector - this is the truth. The 2nd part is a lie about China's economy.

@yiziliuxian 18 дней назад

I remember Roach once said he will never visit China/Hongkong again.

@petergreen5337 21 день назад

Well done Roach . A well REASONED and sensible argument.❤❤

@albertlowtengdak6511 25 дней назад

Haha.... US debts had been a 'death sentence' for US & it will drag the American citizens along.... 😢😢😢

@kkchew18 25 дней назад

Stephen Roach provided sensible responses to queries raised by the 3 individuals. Unfortunately, he will not be able to change congressional leaders who are in debt to the many lobbies in the country.

@prithbilimbu5314 21 день назад

The good thing is people around the world are becoming aware of the truth.

@manofsan 26 дней назад

In related news, Bloomberg All-In On China

@censorshipagainstthemiddle6198 26 дней назад

You’re not? What pathway todo you see for American prosperity compared to China?

@manofsan 26 дней назад

@@censorshipagainstthemiddle6198 - Mike Bloomberg is all-in on China, and that's why his news channel parrots him. Falling growth, aging demographics, opaque system prone to capital misallocation - sort of like Bloomberg

@jw999 26 дней назад

The reporters here are way out of their depth...

@ssuwandi3240 25 дней назад

Businesses reporters who don't get economics101😊

@mattburrito 25 дней назад

their cowards that cant tell the truth to the public

@user-qd8yg1fp7i 24 дня назад

@@mattburritoYes!

@johnteets2921 21 день назад

They're really thinking about their beloved inflatable boy scout.

@pareshpaul001 26 дней назад

Trade deficit not just with China but Taiwan also...???

@DC-qn4wz 26 дней назад

And the rest of the world.

@jillesdjon 26 дней назад

That’s usually what happens when one country’s top industry is financial services and the top export is “conflict equipment”… Unless you have a global war, you’ll never have a market big enough to balance your trade deficit

@geraldkohar 26 дней назад

Taiwan is China, China is Taiwan. You are talking about trade deficit between US and China. Taiwan is not a country. Google it, There are only a mere less than 15 countries in the world that supports Taiwan as a country, most of those countries are tiny countries with population less than 500000. Taiwan is not even in UN, so it is not a country by any standard. Taiwan is just one of China's provinces.

@Kukura001 25 дней назад

@@DC-qn4wz Yes, it's not sanctions. It's just isolationism. Uncle Sam has become a giant North Korea.

@cairn369 25 дней назад

@@geraldkohar Don't get so triggered, he never said Taiwan is a country, besides, thats not even the point, he just points out that the U.S has trade deficit with his beloved ally and yet didn't impose heavy tariffs on them. Although I also think Taiwan belongs to China, in the real world, people will treat them differently, whether you like it or not, it's a fact. By the way, since you are so eager to asure Taiwan is China, shows how vulnerable what you try to prove is.

@jerryrichardson2799 19 дней назад

No trade war is forever, fact.

@pleasantjourneys 26 дней назад

Forever is a nonsense word in this discussion

@stephenphillips6245 26 дней назад

Extensive, trade, dispute?

@ssuwandi3240 25 дней назад

His concern was Forever Deficit as no politicians addressed it. Only Trump!

@stephenphillips6245 25 дней назад

@@ssuwandi3240 It is so funny that, in 1999, they were worried about no deficit because Clinton's budget was so efficient. So, I wouldn't say no president doesn't care; good thing Bush did tax breaks and 2 wars to ensure there was a debt...LoL

@jianlinzou3100 26 дней назад

you have a trade deficit with your favorite restaurant. do you stop going to your favorite restaurant but instead choose a much more expensive restaurant with bad food? 😂

@AYVYN 26 дней назад

Nothing lasts forever, and if it did then businessmen wouldn’t care about it.

@karmicexperiment5034 26 дней назад

So true

@paulmccarter908 25 дней назад

It's not a risk, it's a policy shift to address a hegemonic shift.

@valeriavernon1151 19 дней назад

I regret that I won't be able to see these develpments, I am too old (82) and the world has become ever more interesting from day to day.

@jianlinzou3100 26 дней назад

roach is objective, unbiased and straight forwardly on point

@clearheaded5696 26 дней назад

You actually mean to say objective, not subjective, right?

@zhaokwong5544 22 дня назад

Very intelligent.

@johnteets2921 21 день назад

@@zhaokwong5544 Yes, intelligent economists tell the powers that be what they want to hear. Screw the hoi poli.

@kennethli8 21 день назад

Roach has been dead wrong about China and the US economy for the last 15 years year over year.

@user-ox2mz8ds7g 25 дней назад

I've read that a country that has the world's reserve money has to run a trade deficit. So if China or some other country had the world's reserve currency, they to would have to run a trade deficit. Don't know if it's correct though.

@secretsecret7730 19 дней назад

Why US has lost the know how that it had during the 50 ' s and 60 ' s ?

@alphonsoquenneh1855 25 дней назад

Oh wow, is the only person who speaks the true! This is why items are so expensive in the US than ever before!!

@acuantjahyadi7393 26 дней назад

Membeli Iphone berarti mendukung genosida rakyat palestina

@davidhuttner9431 19 дней назад

Now I am really confused. Are you telling me that the Silver Spoons and the opportunists that suck up to them aren't all geniuses?

@yuey0602 26 дней назад

sometimes you just can not see a nation as a single entity. tariff may do no good to overall strategy, but it collect money for the government.

@lfish57 26 дней назад

Tariffs are pay by us. We have to pay more for someone to make a political point. Everything is high cost as it is. Everybody happy to pay more?

@watb8689 26 дней назад

china already selling the Hybrid that can travel 2000km and selling for 14k. Much better than Tesla 500km range

@12time12 25 дней назад

You’re talking about a test vehicle, it’s nowhere near production ready.

@wision888 25 дней назад

@@12time12selling car ，not test

@lunlunqq 22 дня назад

@@12time12 No. it’s already available to the general market.

@smling11 20 дней назад

He is what the US I used to know, was taught, and admired. Hope he can still keep his job after the interview.

@Cotswolds1913 26 дней назад

We were already in a trade war, we simply stopped taking it on the chin and finally responded.

@cheongseeksam3502 25 дней назад

Anything that you can't compete with those you branded as lesser, you make malicious accusation...

@Cotswolds1913 25 дней назад

@@cheongseeksam3502 If you gave us the ability in the 19th century to seize the intellectual property of every company who ever invested in the US, promising to stop the practice but never doing so, requiring foreign firms to set up joint ventures where the American partner firm owns a majority, & the world never forcibly responded to stop the nonsense?? If we decided to restrict household consumption to just 37% of our economy through forced land acquisition, enormous industrial subsidies, holding the currency artificially weak to restrict importing power, a Hukou system against migrant laborers so they cannot access benefits from either their employer or the state, then no one would be able to compete with us across a score of manufacturing sectors either. We would however be a lot poorer, just as China is a lot poorer than the more market-driven Taiwan (albeit Taiwan has used subsidies too). Unfortunately for you the CCP does not care about workers living standards, they care about national power.

@Cotswolds1913 25 дней назад

@@cheongseeksam3502 if we held household consumption to 38% of GDP through forced land acquisition, huge industrial subsidies, held down the currency to restrict importing power, imposed capital controls, and imposed a hukou system so that migrant laborers couldn’t access benefits from either their employer or the state, then what do you think the result would be? If in addition we robbed other countries of their IP, made foreign firms set up joint ventures with an American partner who would own the majority, and promised the world we’d stop the practice but never actually do, then no one would compete with us across a swath of industrial sectors either. But we would be much poorer as a result, just as you are much poorer than capitalist Taiwan.

@12time12 25 дней назад

@@Cotswolds1913bravo, well said.

@mathewmiletich5986 25 дней назад

@@Cotswolds1913 well said

@catbertevil750 26 дней назад

deep down domestically the US simply can't sustain the budget deficit and its debt. So inevitably either the US has to cut the budget, which is impossible with the established, entrenched powers, or has to raise taxes, which is political suicide to either party in power! using tariff as a way to increase government income AND implicitly raise taxes on EVERYONE is becoming favorable... lol it's actually quite simple. unfortunately universal consumption tax thus the inflation affects the middle class the most. so it's not surprising the american middle class is dwindling. the US IS in the toilet spiral and no prospect of getting out, period.

@TacticalMayo 26 дней назад

Nonsense

@migovasquez0303 26 дней назад

Why do you write this statement like in grade school. Where are the capital letters after each periods. Your analysis is nothing but a fallacy.

@ShamileII 26 дней назад

Great discussion!

@kennethli8 21 день назад

Roach has been dead wrong about China and the US economy for the last 15 years year over year.

@zhanghaoze 25 дней назад

Hello Professor Roach, still benefiting from your class when i was in School

@angelosupsup3726 26 дней назад

I support usa in this initiative for tariffs. China is to wise and want to dominate the market under his body language.

@steveleong1389 25 дней назад

Roach qualifies brilliantly as President of US unlike the other 2 senior presidential candidates !!

@chiefchangeofficer 25 дней назад

Intelligent people won't become the leaders of countries -- that's simply a rule and a fact

@elcmu2637 25 дней назад

it seems like there is an overcapacity of the fed printing press to satisfy the budget deficit leading to massive trade deficits and damaged credibility of the usd.

@scottbrinkerhoff4561 26 дней назад

We are trying to protect US Patent Law, Labor Law, and fair trade vs free trade. Its simple

@passby8070 26 дней назад

Absolute bs, its all about maintaining hegemony. Look at what US did to Japan in the 90s.

@scottbrinkerhoff4561 26 дней назад

@@passby8070 - maintain a standard of living with a China model…explain how it’s possible

@ssuwandi3240 26 дней назад

Love the hint that rhe Professor is panicking olus as a Boomer who brought up the fiscal issue I have to throw more respect than his peers who keep playing dumb or ignorant. China has taken over FDI across all 10 countries in ASEAN and that's exactly the long shot growth without overly relying on domestic spending or stock market. They are gradually flipping the over reliance on dollar and start super charging the Yuan volume. Extremely clever policies.

@andrewlim7751 26 дней назад

Which Chinese product violate u.s. patent? Solar panels? Sodium Batteries? Wind turbines? T-shirts? Jeans? Kitchen knife? TV? Laptop? Handphones? 😁😁

@greedyinvader9462 26 дней назад

Since when muricans has a fair trade? When u.s has the advantage then talk about free trade when losing the advantage talk about national security

@stephenphillips6245 26 дней назад

Trade deficits are good, esp when the labour and manufacturing costs are low. But China uses coal infused gasoline that is 83 percent more carbon loading and spend 50 percent more, coal burnt, energy to make the goods....bad for the environment and air quality...900 million to 1.2 million Chinese die a year from pollution alone...alas Al Gore's environmental provisions were not followed by Rubin and Summers when trading w China really opened up (would have saved a million Chinese a year and save the airsphere).

@NathanGao 26 дней назад

So manufacture in Bangladesh or the Philippines is more environmental friendly?

@jinsamsara3259 26 дней назад

China producing goods for the rest of the world so that you can live in cleaner air and now blaming China for pollution? Which country can produce goods for over 200 countries and still having a carbon footprint of 1/3 of per capita of the US? Each person in the US is emitted 3 times more greenhouse related gases compare to a Chinese in China tell you what you need to know about the BS you just talked about.

@stephenphillips6245 26 дней назад

@@NathanGao American /North American manufacturing is the comparison...Obama era pollution controls have done a lotta good ...Nixon's Clean air and water acts deserve a shout-out too

@hink0027 26 дней назад

@@stephenphillips6245 you are wishing world factory will have less polution compare to lazy ass american who know only to stealing and siting lazy in their home without working?

@JimmyDoyel-by2cp 26 дней назад

And China is 50% green energy on all aspect of their life, and is planning to decrease co2 level every year starting next year, so they are doing something.

@wassdepp1 22 дня назад

Finally someone well education and intelligent speaking the truth

@SSYlist 24 дня назад

Stephen is as objective as it can be for an economist 💯 one of my favourite economist around

@PeterSedesse 26 дней назад

It is Geopolitical. It isn't a trade war, it is an actual war. China depends completely on the west as consumers. Without NATO, they have nobody to sell to. On the other hand, the USA and Europe can use other low-wage countries like India, Vietnam and the Philippines who do not pose such a huge geopolitical risk as China. That is all this is, a slow decoupling aimed at reducing China's power geopoliticaly. The professor gets one thing wrong, he does not include the geopolitical cost when saying China is cheaper. In pure economic terms, China might be slightly cheaper than India, but giving China all that money and stabilizing their economy has other costs.

@theinfralink6598 26 дней назад

But Vietnam and India all need huge inputs from China to export. They were like China 40 years ago. In case you don’t know China has become their No 1 trading partners. Philippines is a separate game altogether. It barely produces anything

@duinay3 26 дней назад

Not sure why you think China depends on the west to sell their goods - there are like 182 other countries besides the "west" that trade with China - the Chinese EV company BYD is the #1 electric vehicle exporter in the world surpassing Toyota and they haven't sold one EV in the US 😂

@ubuntoro1040 26 дней назад

It's not a geopolitical problem, the reason is that America was born with the DNA of colonialists, seizing territory and killing Indian tribes. Now they want to colonize other countries economically, technologically and militarily in the name of democracy and human rights... 🤣🤣🤣

@migovasquez0303 26 дней назад

@@theinfralink6598 Wrong , Philippine produces semi conductors which are exported to USA and China and lots of fruits that barren china cant produce. Try again.

@rap3208 26 дней назад

@@migovasquez0303 Those are produced by western componies, they are located in the Philippines. No home-grown industries whatsoever. It is overwhelmingly an en import oreinted economy.

@user-hq1fq6gl1r 25 дней назад

I can't wait to share this video link with my friends. I am conducting research on green business, focusing on power batteries and electric vehicles (EV). This video can help me understand more about how people view productivity and capacity. I agree that there is no such thing as overcapacity or excessive capacity. It is a strategy to use capacity locally and globally from a marketing and economic perspective (supply and demand).

@vgstb 21 день назад

Given the pace that China is decoupling and derisking from the US (and the West as a whole) in every way possible (agriculture, industrial supply chain, petrodollar, international moneytary exchange systems, bonds&loans, etc...) the risk on a forever war with China is not a real possibility. China planned to have its global south network at cruising speed by 2030, but as things are going, the decoupling and derisking task will be realised by the mid of the decade.

@Truthstelling 26 дней назад

pretty fair commentary

@raymondho3574 25 дней назад

Great point about trade deficit mirroring irresponsible fiscal policy.

@k54dhKJFGiht 25 дней назад

Thank you! Like everything that we do, we STILL maintain strategic ambiguity! It doesn't work, does it?! How much longer must we be our own worst enemy?

@tianliu6426 20 дней назад

Thank you for this video. The instruction is very clear and gave me the confidence to go ahead and do it myself. It took me about 10 minutes to complete this that Angi quoted for $530. Initially I did not feel comfortable doing it myself and wanted just to buy the replacement capacitor and save money on parts. I found this by calling the AC manufacturer and gave them my AC'S serial number. Eventually I bought it on Amazon for less than $30. Couple of comments, I did not think it necessary to test my old capacitor since I have decided that a replacement is needed. The second comment is that the disconnect next to my unit was a little hard to pull out, so I had to wiggle a little bit and pull hard. I want to recap that this is a great video and thank you!

@kdnofyudbn5918 20 дней назад

Look all we have to do is flip the script of the Chinese. For 30 years the Chinese forced American companies to partner with a A . Chinese Company, B. Manufacture in China, C. Export some of the Production. So America should tell the Chinese fine you can compete in America but now you will partner up with a US company. You MUST manufacture in America and Export the your products from the US factory aboard. Ta Da !!

@davidlai399 26 дней назад

Hong Kong will have to reinvent itself, due to natural limits such as the lack of land and small population, especially in the context of the Greater Bay Area, as the Monaco of China. Hong Kong, due to its legacy high land price policy inherited from the Brits, has the most expensive property market in the world and it translates to extreme high cost of living and doing business. In this regard, the city has to focus its development around the goal of justifying that high cost of living. Unfortunately it will become somewhat of a domicile playground of the rich, and amenities and service industries will have to be built around them, which is not dissimilar to modern day London.

@308_Negra_Arroyo_Lane 22 дня назад

Hong Kong can only do the things that Shanghai and Shenzhen can't, and that's not a lot of things anymore.

@Mike-us1wr 21 день назад

Trades are never pure fair and balanced. In the end, it’s national interests for trade in either deficit or surplus.

@julianchung9215 21 день назад

The big question is who will evetually pay for the additional tariffs bu US?

@user-du4fo8zi2w 21 день назад

Nice, congratulations and thank you for your advice! Your Telegram Channel is amazing!

@epsilonlam 25 дней назад

Why is it that we allow politicians to decide matters pertaining to finance and the economy when they hardly hv a clue what it's all about?

@stephenyang2844 20 дней назад

Trade deficit is not necessarily bad, it only means one country is better at producing products than the other country. High tariffs only burdens US consumers more and worsen income inequality and increase inflation.

@jorgegomez524 20 дней назад

Those journalists lol “is trade deficits a bad thing?”

@user-ki2bq6kd7s 25 дней назад

The number of pure electric passenger cars exported from China to the United States is 12400, and the proportion of both the quantity and total amount exported to the United States is less than 1%. Raising tariffs is just for the sake of votes

@user-dn8sl2td4g 21 день назад

The gap between rich and poor in the United States has reached its worst level since the Great Depression of 1929. According to data released by the Statista on November 3, 2023, the poverty rate in the United States in 2022 is as high as 11.5 percent. 73 The bottom 80 percent of U.S. households had exhausted their excess savings by June 2023, but cash savings among the richest 20 percent were still about 8 percent higher than at the start of the pandemic, according to the latest Federal Reserve study of household finances.74 In the third quarter of 2023, 66.6 percent of total wealth in the United States was owned by the top 10 percent of income earners. In contrast, the bottom 50 percent of earners own only 2.6 percent of total wealth.75 American economist Matthew Desmond has pointed out that in 2023, most Americans are working hard, but the rich are getting richer, and those struggling at the bottom of society are trapped in deep-rooted poverty. The accumulation of opportunity and reduced social mobility in American society is rooted in a triple institutional design: exploiting the poor, subsidizing the rich, and segregating the classes. The Report on Human Rights Violations in the United States in 2023

@douginorlando6260 25 дней назад

China is setting up HK to be the international financial center alternative safe from being weaponized for political purposes. This includes the alternative to Swift and commodity exchanges

@harriemeeuwis978 25 дней назад

Good analysis. I wonder what mr. Roach views are about the ongoing division of the world into the west part, the G7 and allies, and the global south, Brics and allies. How far will this go?

@charlesyeeh 21 день назад

Let’s see: After 6 years of our trade war against China, has the US overall trade deficit (with the entire world) been reduced? Have we broug6ht lots of manufacturing jobs back home? If not, then I believe our goal is to weaken China, and not about making America better or stronger. Let’s see whether China’s overall trade surplus has been reduced after 6 years. If not, then our goal is basically failing.

@moneypromusic4419 19 дней назад

Imagine trying to stop a country growing economy with almost two billion people in it, what a joke

@jazening3075 25 дней назад

Thank you Professor Stephen Roach for sharing, informative information & perspective insights the issues between the U$A and China. Bless you, Sir.👍🙏🇨🇳🐲🐼☯️☮️🌏🙂‼️

@leroyhill7117 25 дней назад

lol answer to the first questions how about trying to do all 5 at the same time 😂

@TacticalMayo 26 дней назад

It's going to be more than just trade.

@Kukura001 25 дней назад

Uncle Sam has isolated himself from the whole world and turned into a larger North Korea

@TacticalMayo 25 дней назад

@@Kukura001 the United States controls the aspect of every financial institute on the planet Earth. You cannot isolate the United States because the United States can isolate the world.