How Should the United States Address Its Chinese Trade Imbalance? (Video)

ORIGINALLY RECORDED March 9, 2011

Experts outline variables such as nominal exchange rates, foreign exchange interventions, and macroeconomic imbalances as contributing factors affecting the trade relations between China and the United States.

This event was part of the McKinsey Executive Roundtable series in International Economics


SPEAKERS:
Eswar Prasad, Nandlal P. Tolani Senior Professor of Trade Policy, Cornell University; Former Head of the China Division, International Monetary Fund
Peter Schiff, President and Chief Global Strategist, Euro Pacific Capital
Shang-Jin Wei, N.T. Wang Professor of Chinese Business and Economy, Columbia University; Former Head of the Trade and Investment Division, International Monetary Fund
PRESIDER:
Joyce Chang, Global Head of Emerging Markets and Credit Research, J.P. Morgan

http://www.cfr.org/china/should-united-states-address-its-chinese-trade-imbal...

Category:

Nonprofits & Activism

Tags:

• CFR
• Council on Foreign Relations
• Eswar Prasad
• Peter Schiff
• Shang-Jin Wei
• Joyce Chang

[Lengarces]

Peter is a financial genius and I actually understand what he is saying.

[Piitsi]

The marriage metaphor was genius. Lolled so hard.

[christo930]

Schiff is leaving out the second part of that house show. They threw away all of the made in China stuff and completely refurnished the house with stuff made in America and it was about the same price as the stuff made in China and was better quality.

[MrPeace4uall]

Peter schiff makes it clear and simple, the way it should be, america is well done!

[jonecx12]

peter starts at 00:12:01

[rosewood223]

That Indian guy is totally bull shit

[jdonald05]

@lazymathstudent I agree! I know it is not going to happen.Unfortunately, I don't agree w/ you that people will be living better because I believe our government is going to inflate the dollar like crazy trying to prevent the inevitable fall of the dollar. Eventually, yes, when the US deregulates the market and regains compettiveness, we will start manufacturing goods again and our economy will have tremendous growth. Only then will people be living better, but that is a ways down the road still

[lazymathstudent]

@jdonald05

That is very unlikely to happen on its own. Many big US companies are producing their products abroad because of lower labor cost. Therefore, the strong dollar is actually putting Americans out of work. So, the first step is china backing out of US dollar. Next, the dollar sharply falls. Then US companies will be able to employ its own citizens and unemployment will fall. The US standard will be lower but people will be living better :), since the unemployment will be low.

[jdonald05]

I have an idea! How about we actually start manufacturing goods in America. That way we would NOT have to import as many goods from China AND could actually export goods to China and the rest of the world, rather than just taking, taking, taking from around the world and pretending like we are really contributing to the global economy. Hmmm... wait, wait... No, why would we want to actually balance out the trade deficit and stimulate economic growth in America???

[100percenteri]

All these people except Peter Schiff will within enough time be out of a job. Hooray! Like if you agree.