America v China: why the trade war won't end soon
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- เผยแพร่เมื่อ 29 ก.ค. 2024
- America and China are edging closer to signing a deal in the trade war. But that won’t mark the end-the issues at the heart of the conflict will be very difficult to resolve. Read more here: econ.st/2qQItl6
Click here to subscribe to The Economist on TH-cam: econ.st/2xvTKdy
The world’s leading superpowers are locking horns. Over the past 16 months America and China have been trading blows through tariffs on goods. The impact is being felt on industries worldwide. But what is the story behind the America-China trade war?
So the trade war, what have you guys been looking at? The US doesn’t like that China is growing so fast and set to overtake America as the biggest economy in the world if it hasn’t already by certain measures. Basically China and the US are caught in this race of imposing tariffs on each other so the US slaps a high tariff on certain products then China retaliates.
It’s multiple industries across multiple markets, it’s huge. And I think right now would be a really good time to look at what’s happened how it could impact the world from now on.
At The Economist, we’ve been covering the trade war extensively Soumaya Keynes is our trade and globalisation editor based in Washington, DC.
How did this whole trade war kick off? How did this whole trade war start? For a long time there have been frustrations that past American administrations had with the Chinese. On the 2016 presidential campaign trail you started to see some really tough rhetoric.
China’s economic rise has been dramatic. In 1978 China’s GDP at market prices was just 6% of America’s. Last year it had grown to 66%. When considering local spending power China has already overtaken America. This unprecedented growth began with President Deng Xiaoping. He started opening up China’s economy to the world in 1978 and the country quickly became “the world’s factory”. Over the next decade, exports as a share of GDP tripled and by 1988 15% of China’s exports went to America. The World Trade Organisation opened its doors to China in 2001. And it was America that ushered it in.
After joining the WTO, China became an economic superpower. But people had expected the country to also become more like a Western capitalist economy. That didn’t happen. America now claims that China achieved its growth by not playing fair. Are those claims justified?
The Trump administration has been using tariffs or taxes on imported goods to try to force the Chinese to change their ways. In July 2018 America imposed tariffs of 25% on $34bn worth of Chinese products. That almost doubled the average tariff rate on Chinese imports from 3.8% to 6.7%. And it’s American firms that have to pay that tax. But with every increase from America, came an increase from China. Since the start of the trade war China has more than doubled its average tariff rate. America’s has tripled. The fight has become overtly political because China’s tariffs are hitting President Trump’s voter base. Many counties where Trump won in the 2016 election were here in the Great Plains and these are the counties most affected by China’s tariffs.
As things stand now, a ceasefire in the trade war could be drawing near. The two leaders are hoping to agree on a “phase one” deal soon which could mean some tariffs being lifted The Trump administration wants China to buy more American produce and tighten up their intellectual property rules. If that phase one deal is signed will it be the beginning of the end of the trade war?
Even if there is a phase one deal there will be a lot of issues still to be resolved. But there’s more to the trade war than just tariffs. America has also imposed restrictions on some Chinese firms especially ones in the tech industry.
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Doing a report on trade war, and only interviewed one side.
There is only one right side and it isn’t China.
@@Agtsmirnoff there is only one right side and it is not America
How many sides is simple. There is a planetary soya been market and this channel did not discus the fungibility of soya beens. Critical error that I will remember.
Fezza Manezza Quite a racist statement, my friend.
@@fezzamanezza8415 An Australian. That makes sense.
This video did not give any insight. Totally a waste of time.
This channel is not economist...they are ecostupid. Lol!
You need to graduate from kindergarten before you criticize a magazine well above your intellect.
@@Edruezzi Congratulations! You already graduated from kindergarten!
@@laidazhi Have you watched the daily three-hour hate on Fox? Carlsson to Hannity to Ingraham?
If you don't get the reference look up Nineteen Eighty-Four by George Orwell.
@@Edruezzi You need to win a world cup before you criticize a football player. You need to win an oscar before you criticize an actor. You need to win a nobel prize before you criticize the president. But I only need my common sense to criticize your idiocy.
Whos here because they have to watch this video for their online class?
me pog
cant wait to record videos.
@@AurytisX same
@@AurytisX what are the odds of seeing you here
Me ahahaha
My mom, the home econmist, could have made a more meaningful analysis.
LST lol😂same as mine
Since u said so, why don't u share some spectacular perspective? homeboy
please do i cant understand any of this BS
Lol, u are so funny
That's what you get when you have empty headed millennials make a documentary. Do you really think today's dimwitted generation of state controlled minds are capable of critical thinking?
Do any economists work at the economist, seems like a bunch of journalist copying and pasting, or did they let the communications intern lose
I'd wager this guy narrating never toon an econ class. You'd think some sort of demonstrable prowess in economics would be a requirement to work at a place called "The Economist".
the magazine is really insightful, this is not
@@parus6422 I think even the magazine is loosing its expertise now.
They're trying to be as edgy as vice
I thought the same. Wt?
For the standard of The Economist, this video is meh, even lower maybe
the Rothschild's have moved their money to China.
For your standard. This video is meh, I don't know even lower. Lol, your islamic countries has many resources in it yet you people are still poor. Sorry but this is a filthy fact 🤣🤣😂😂😂😂😂
@@user-yj3ev5ux9i you dont look very smart
@@shinaannazeer2521 You don't seem to look at statistics very well. UAE's Dubai always tries to show some islamic people are rich, but UAE's 19% of the people are poor as heck. They work day and night to get money and most of their hard work is getting profited by jèrks living in Dubai.
@@user-yj3ev5ux9i what do you expect the islamic countries to do when the world police (afghanistan, syria, palestine, iraq to name a few) is bringing democracy there.
In 2019, Does anyone still believe in that any economists work at the economist?
8
imagine someone still believes
As Huawei said how can we steal something the US don’t have? He has a point.
America totally shocked... it is scared of China.
please watch the latest news on the australia ABC news... look at the comments!!!! THEY’RE SO OFFENSIVE TO CHINA!
@@hehemymum9542 We Chinese are used to human rights! free! Communist! Evil Chinese Communist Party! Oh, there are haze and qualities, very comprehensive, when one day we boycotted Australia, I hope they will be as tough as they are now, without imported beef, and Argentina, Brazil, Russia, we do n’t care, hope that in the near future Australia will not apologize to China in the future, because we no longer believe in false countries. China has a famous saying: The more severe the stage of the Western world's attack on China, the better the Communist Party can do! Haha, this is true, the Communist Party is cheering because China has 14 billion people to support!
One more point: We are not a one-party authoritarian country. For China, American Western countries, they are more like China ’s opposition parties. They have been supervising the Communist Party for the Chinese people. Hahaha
@@hehemymum9542 One more point: We are not a one-party authoritarian country. For China, American Western countries, they are more like China ’s opposition parties. They have been supervising the Communist Party for the Chinese people. Hahaha
Ko Chun ikr 😂 did you hear that the tax increased by 70% in australia? .. thats bc they sperated from china
@2:59 American flag.. Literally Made in China
Denny Hiu Ironic isn’t it
HUE!
Those were being made for Hong Kong. :p
When the red cap wear by Trump to make America great again is made from China, America can't be great!
@@tanmenghuat7032
That's like saying because a shoepolisher has to polish the Wallstreet banker's shoes, the Wallstreet banker isn't competent
where are the actual experts lol did you just interview your friends 😆😂
Lamo 🤣🤣
They fear getting wild.
"The US steals, but never for commercial purposes" I rolled my eyes SO HARD there they fell out of my sockets
BAHAHAHA SAAMEE i'm so done omfg
China steals intellectual property and even lie about there brand name. Take iPhone for instance. if you go to China, you'll find knockoff iPhones. This is just an example of the China's theft. Its illegal in the US. We have border agents that protects the IP of products by searching people who smuggle in fakes.
genuine question here, outside of the time span of 1775-1880 when did the americans ever steal anything from foriegn countries?
Because if you are going to argue that we did in Iraq that would be false, as american companies were buying more during saddam's reign then after. (although I cant find the source for that) The real reason we invaded iraq was in order to establish a friendly democratic muslim state in the middle east, as although saudi arabia is 'friendly' to the U.S. I think that is due to a more pragmatic reason then them being democratic nation (which they aren't, they are a monarchy) and Israel is constantly dealing with extremly high tensions with their muslim neighbors and therefor their influence in the area is limited.
But if you weren't going to argue that we did in Iraq Id love to see where else we did.
@@markwrenn5528, read PNAC. The invasion of Iraq was planned in the 90s by neocons and presented to Clinton. Clinton said no, and the GOP waited for their puppet, Dumbya (Bush Jr.) to be elected, and that was Cheney's green light to invade.
If stealing can achieve this, why didn't other countries in the world achieve this high-speed development??
Ethics. China is the only nation that ignores patent ownership.
@@ADAMJWAITE Your need to check your brain first if you believe this.
@@ADAMJWAITE incorrect
@@girldairy China copies and mass produces countless products. This is well documented, well known and easily researched. If I'm mistaken at all, it would only be that there are other countries that ignore patent laws as well, but still not to the extent that China does. Still, you'd have to name one to make any type of argument.
@@simplegamingshowtv3906 And you present no evidence to the contrary.
Guys this video is a joke! Where are the professionals?!
Trump voters do not watch these videos, so no worry.
@BeGood 2Me , Right
Yeah it's a bunch of broads and a metro dude fresh out of Bearkly
He is in your house banging you !
zxcvbn Wrong. Here.
This pretty lousy news reporting ... kidstuff.
All American reporting/tabloids is now kidstuff.
U chinese?
@@R4G3FULL Not China chinese.
@@radcow agreed, or perhaps better to say ill informed.
@@Greymist73 nope that's something different
Just because we’re trudging through our country's economic journeys, trying to get the best out of it doesn’t mean that we can’t get help along the way.
Investing on the online will be profitable especially when you have a professional guiding you on your investment.
I totally agree considering the economic sentiments and how complicated the market is, a pro expert is essential for lucrative investment on the market.
Which trader or trading system are you most thankful for this year so far?
The first goal of any trader is to trade for another day. I keep earning trades with Mark Carey's trading strategy. I work with one of the best strategies that's very reliable and profitable.
Mark Carey's
Are these kids actual economists, or was it a work experience day? This excuse of a video was nowhere near as informative as it should have been.
One sided, biased, and without a deeper understanding of the issue.
@ nha America is build upon the land conquered with genocide. And most minorities actually get extra benefits from the CCP and the chinese people are having it way better then there african and indian counterparts. And China actually has a growing middle class where people are getting richer instead of most western countries (usa inc) where people are getting more poor.
You have never got any data to sprt this from any of these countries????😮😮😮😮😮😮
I could get better analysis from a taxi driver.
Hahah that's true, taxi drivers are always talkative.😂
You remind me of Chinese taxi driver😂😂
4:23 "Never for commercial purposes", when is it not commercial?
i learned more from the comments than this video...
It's the economist...... Not surprised.
Same
Never seen America so insecure like these last few years.
Suleiman Solz aye. that sums up republican leadership pretty well
Few meaning three Right?
Because of Donald Trump. He don't understand simple logic that the tariff are paid by the American people.
@MEXICO CITY BEAST - China has no intention to conquer US regardless its military strength. Look at China history you will never see that it has a war across the ocean, other than its constant bombardment of National Chinese controlled Kinmen or Quemoy island which closed to mainland China in the 50s and 60s.
@@tedaspane1493 Sure, the during the history of the PRC itself there has been a lack of naval engagements (with the exception of Johnson South Reef Skirmish) due to a relatively lacking blue water navy, but during the history of China itself there have been plenty of naval military engagements and expeditions (eg. expeditions into Java as well as the Battles of Hakata Bay)
An extremely superficial and politically biased level of analysis, come on Economist you can do better than this.
The Economist has lost all credibility with this one.
China is NOT afraid of wars, including trade wars. China went through WWII with the Japanese. This trade war is NOTHING compared to WWII with the Japanese.
In WW2 Japan was defeated almost single handily by US though. Then it was US that Welcomed China to WTO. Two countries should be friends not enemies, that’s if China can finish its political reform.
lost it all long before this... this just confirms it LOL
@@ncgzeal, China did NOT sit around when the Japanese invaded China. We had the bloodiest battles in history fought with rifles, cannons, swords, bombs, etc.
China does NOT appreciate other countries influence its internal affairs. Just like Americans do NOT appreciate other countries influence their election processes.
@@ncgzeal I agree with you that two countries should be friends. but why there's only one system allowed in the world. china is way more efficient than us govt. most importantly most people are satisfied with govt. so I suggest leave China alone. us should just focus on us itself
I thought you would give answers instead of interviewing some students
I've never seen the US in such a state of panic and desperation! So embarrassing
when they made other nation in fear they never feel embarrassing
@@jacobrosewater8811 u will never be able to do it.
@Are See In addition to hoping for China's bankruptcy, u should also be prepared to accept the reality that China will replace the US as the world's largest economy.
Just because the U.S. Is currently majority of Chinese imports means nothing, with the rise of automation industry is already returning to the U.S. along with the fact I've noticed a rise in American made products and other Asian products.
@@scottmad8563 How's the Foxconn project going in U.S? The trade war did not make America great again. Manufacturing has flowed from China to ASEAN and has not returned to the United States.
That's not stealing technology, that was the part of the deal. Build here cheaply and in return share your technology
In micro print it says share tech we choose to share lol.
they enjoyed almost free land to build their factories, and huge tax return and cut from chinese government, all for exchange for the technology. They were so happy and made huge profits from China. Now, they like amnesia patients forget everything and complain everything.
Right, that's how disgusting China is. That is stealing, if it's involuntary. No country on Earth other than China does that.
And still would produce in China
AdrianAtGaming no it’s not. You build a company in China you expect Chinese never learn how to do it one their own? That would be naive. China played under the rules made by Americans yet America complains now? Did China force American companies to move their factory to China? American capitalists abandoned their fellow Americans. That’s not because China forced them.
When you out-source jobs to exploit cheaper labor markets for short term profits, you lose control of your technology and in the long run, you lose the cutting edge needed to catch up. Thank you Wall St.
This comment is what the video should have been abt
Larkinchance 👏🏾
US was hoping that China would lower its prices to offset the 20% tariff that the US companies pay. But because of Covid and shutdown of US industries, China was able to not only maintain its prices, it actually was able to increase its prices because of shortages. Even so, US still imported more and the ports are unable to handle the increased volume of over 27%. All the tariffs did was increase inflation in US as consumers ultimately pay for these tariffs !!!
不止美国进口涨价，中国国内也涨的。涨价相当一部分是因为covid-19被动涨价。
@@tomelison3378 中国国内涨价完全和美国是两个概念，美国今年inflation要超10%了，大陆涨幅还是稳定在了2%以内
It’s like this, you see a American flag? It’s probably made in China.
Eric Miller
I meant small things that you think are not important but actually really important when you need is mainly all made in China, do you understand? I don’t even have US flag don’t believe everything in internet lol
And that's part of the problem.. Adjustments will be made to correct it.
Lics Norgi
That’s not true, there is a reason why China gets the market. If they spend too much money on production they can’t make money on sell. China gets the markets and not elsewhere is because Chinese work labor is cheaper compared to others, like India or Bangladesh or Vietnam.
American are saluting a flag made in China. That on its self is Harrasment.
By Design in California
Okay, Just wasted 9 minutes life!
As a matter of fact, this video just talks about America's vision. It is obvious that the US would not allow another country to get that rate of economic growth, due to the danger that it represents: the US descent as the biggest economic power in the world.
This isn't true. Had China become a free, democratic nation, the US wouldn't interfere. Eventually in the far future, India would probably pass the US in economics, since the nation has a billion people, and is developing rapidly. The US wouldn't care. But because China is a ruthless authoritarian state, the US would at least make an attempt to stop the CCP's growing influence. The US descent as the biggest economic power in the world isn't the US main worry, its the influence of a ruthless authoritarian state.
The US is the leader of the free and democratic world, not saying that the US society is perfect by any means, but when you have a authoritarian state as the global economic power of the world, the US should (will) try to oppose it.
@@justarandomshiba2781 I thought everyone knows it,but it's seemingly not.Whether China is a "not democracy country"as u proclaimed or not,a sovereign country can NOT interfere others' national internal affairs,why can America be the world police which it self proclaimed but you think it's just should be how it is?and who got to be the one to define "democracy"?
Problem is when an *insane communist totalitarian authoritarian narcissistic dictatorship* gets that top spot. We (literally almost everyone on the internet) got used to freedom of expression thanks to exactly that American dominance.
@@dariawicgs5254 I believe it’s not only the US but the UN who also delegates certain global issues. No everyone doesn’t know or share your opinion because what you stated was an opinion
@@justarandomshiba2781 Are you naive or hiiding your head in the sand? Nobody willing surrender it's number one position regardless of the other's political position. They disrupted the Japanese and Korean industries to prevent them from getting near not even overtaking the US of A. And these 2 nations are US's most staunchest allies. If they will do it to friends, then ... so-called enemies? This is the American mantra: its their way or the highway. No way Jose, are they going to change their way. Let's see how they take it when others dole out the same punitive action on them when they are no longer the numero uno and top dog.
In a trade war they only interviewed one side...🤦♂️🤦♂️ TH-cam should seriously include the option "report for waste of my time"😒😒
"never for commercial purposes".......just how insane and d-s can these hypocrites be?
Overly simplistic overview of the economic situation for a channel call economist
The Economist is a Rothschild owned media outlet. Just another arm of their control.
Please ... Enlightened us. Apparently someone who knows better clicked on this video...?
The best part is in the middle where they explain what tariffs are
"us steals but never for commercial stuff" really?
Such as Japanese games. During the 90s Konami and Square Enix made the best video games. Now the west created their own games but it looks identical to Japanese ones. Wonder why?
I’m definitely not pro China nor anti-US, but from an economic perspective I’m so tired of the US playing the big school bully on the financial market school grounds. It’s a inward looking, frankly selfish view that only it can be the dominating force in setting world market prices on everyday goods
You're absolutely right! US has been big bully all these while. Now, under Donald Trump, he wanted South Korea to pay five times more money as protection fees to the US which is from USD1 billion to USD5 billions annually. This is how US has treated his ally. And if I'm not mistaken, US wanted the South Korea to be involved in the war in Middle East. I can't confirm this but I remember watching news on this on TH-cam from a Taiwan news station.
You’re right 100% but I would rather have the us be the world order instead of china solely because of human rights
@@tinydog0731 Racist, Gun, Homeless, Crime, Prisoner all this the most in the world and that's the human right.
That US shows the world, but They use the word democracy and human right to be weapons to attack other countries that do not do as they want. US + NATO + Alliance is only 15% of the world! 85% are not against China and Russia
@@tinydog0731 अमेरिकी सपने में मत खो जाना
@@industrialrobot434 ion speak that language aorry
USA accusing somebody else of unfairness ... Incredible.
That's Hegemony. "We make the rules, We get to break the rules."
Its the American way!
@@rainmaker704 Wouldn't be the first time in history that the solo superpower of the world would do it, won't be the last
That is true. China is far more unfair, corrupt, poor, and unfree than America.
@@adrianatgaming8640 dude! why so much hate, I can guarantee you most of us are fine here and thanks for your concern!
"Patient hard workers will win and hungry lazy consumers shall lose" without any doubt!
The Corona Virus effect in the economy and how China reacted to that sounds like something favorable for them, to me..
Gabriel Mirandaz they made the virus
Gabriel Mirandaz us can rip China’s holding bonds
@@SerPapus it is quite unreasonable and unrashional of you to assume, and state that china did so. Because like SARS and MERS they can all be traced back to bats, making it a much higher probability of it being a natural disease. So the likely hood is very much low.
@@j.h.6963 they did it
@@SerPapus You know it.
Quite a shock to see such low quality video from the Economist
Deng Xiaoping actually wasn't a president as stated in the video
Yeah he was a dictator
軍委主席 you can translate it
@@-cantonesepronunciation1632 Chairman of the Central Military Committee, I guess.
He was De Facto Leader, so effectively a president
GarouZero lol very funny
“It doesn't matter whether a cat is black or white, as long as it catches mice." Deng Xiaoping
This is all very remedial learning. Only worth watching if you don’t know what a tariff is.
Mr. Deng had a favor in expressing ideas using easy words. When the ten- year Culture Revolution ended, people were confused and extremely worried about the future of China, and he told everyone that “ even if the sky falls the tall people will hold it up for us”, so there’s no need to worry and just do what you need to do.
I know this has nothing to do with this but if cats cant catch mice it still doesnt matter, there still the best(:
I feel like they interviewed undergraduates 🤣
It's funny the way you guys do journalism. Without listening to the other side of story.
Make profit is easy when you decide the rules of trade. This is the point...
3:55 Friend, this is a state-owned enterprise
Are you going to be doing one based on the Corona virus soon? Or are you waiting until it seems to be getting cleared up before having a video stating its effects or possible effects?
Trump knew the best..
2:42 Correction: Deng was NOT a president. The official title of Deng was Vice Premier.
Wrong. His title was chairman of the central military commission.
jyashin that was his title in military, in the government, the title was vice premier, not president.
I don’t think China need to be worried about USA as long as the USA remains politically divided.
While political division is a concern, even if it weren't a factor I still think Washington would be on the back foot. Beijing has many companies and other significant economic players by the short hairs, through them and their interests they apply pressure to Washington, more pressure than Washington seems to be able to exert in return and with every passing year Beijing's position becomes stronger. Which is why I think a battle of attrition doesn't favour Washington.
I don't think the political divide is as important. The main problem US has is its massive debt spending. That has deprive the US of its ability to spend on basic necessities, such as upkeep and upgrade of its infrastructure, basic education and basic research.
China’s current poverty population is 16 million but the US has nearly 40 million, but maybe China has a lot of slaves. I think Trump is not aware of the Chinese slaves, but he creates a lot of problems for both the US and China. The US has long been known as the consuming nation, especially huge trade deficit. Unfortunately, Trump’s Republican Party is dedicated to protect the wealthy, which won’t work to reduce the US poverty population. Moral vacuum.
Yoshimitsu Keke Very recently, the Federal Reserve bank chairman said the US debt is growing faster than the US economy that’s unsustainable. I vaguely remember that he said something that the US economy needs to grow faster than the US debt.
So basically, China is moving up on the global value chain but the US does not want to lose its grand to China.
"by not playing fair"
interesting concept from a country strife with crippling inequality/stratification
I would say, Interesting concept from a country that claims to follow the IMF when it's in their favor, but skirts it otherwise. Interesting for a country that claims to spread democracy while actively harming democracies, fueling autocracy and murdering millions
@@Naveen-tq7cg any statement will suffice. America is a hot mess and cries foul whenever anything isnt going how they want
@@jusletursoulglobaby exactly! From what I've seen, there's many great things about the USA, but we Indians (and most other Asians in emerging economies) don't want to become US allies simply because of how they abuse their closest partners like Japan through unfair trade deals since the 80s and unfavorable currency swaps. Even though we share democratic and liberal principles with the west, they have a history of backstabbing and instigating conflict
@@Naveen-tq7cg on an individual level that may be true. in levels of government, any country that even hints at not going along does so with the full understanding that it means you are now an enemy of the us. so it kind of doesnt matter
@@jusletursoulglobaby yeah true. The US will do basically whatever it can to keep itself on top. China isn't any better
china:us stealing technology too,why come after us
us:sure we steal technology,but we never for commercial purposes
Did the Chinese use guns to point at American companies to transfer their technologies ? Are American firms that easy to steal their technology and how they manage it when found out ? What about all the huge benefits the Americans got and enjoyed for the past decades from lower price of the goods they got from China ? This is a very biased one side story of another hypocrite company
@@hegehypo5914 Whataboutism, also known as whataboutery, is a variant of the tu quoque logical fallacy that attempts to discredit an opponent's position by charging them with hypocrisy without directly refuting or disproving their argument. It is particularly associated with Soviet and Russian propaganda.
@@dodgerfreak0834 But isn't the US's claim that China steals tech a whataboutist whataboutism? 'China's economy doing well? Whatabout tech theft.', nice hypocrite.
China communist country...trump bring you down watch
@Eliza Green You have the right to go to the court and submit evidence to prove the infringed rights and interests
Obviously you didn't
Because this is the conflict between two civilizations.
One civilization. Only one.
The other is warmongering greed driven by oil and money.
@Future Senator Karl Pilkington there are millions of Chinese visit youtube everyday. Are the caught?
@@xinjin902CCP IP thieft is bad business , start developed on your own or purchase Patent and respect others IP then the issue would be solved ! Stealing is bad business !
@@bockscar1 excuse me. I am supposing we are talking about the league issue of Chinese visiting youtube in this thread, right?
FYI: browsing youtube or Facebook etc. isn't illegal in China, do some research before leaving that nonsense comment.
Wait does a trade war mean we will have to fight with death and bloodshed cause i dont get what trade war is an din rlly scared plz someone reply
American business needs to put a priority of investment in our country and not overseas
8:24 'Huawei can offer cheaper prices because they are heavily subsidized'
NO! What a misleading statement.
Huawei offers cheaper prices because their cost of manufacturing is lower, especially labor. And they have a more efficient supply chain. It's the same reason every American company wants to manufacture in China.
and they are heavily subsidized like MOST Chinese companies, it's both not one or the other.
There is no evidence they have a more efficient supply chain. Especially when you consider that many of the raw materials come from the US and have to be shipped overseas twice before reaching the consumer. The theft of intellectual property (patent infringement) and lower manufacturing costs due to labor and subsidies are the primary culprits. And the more we raise the minimum wage in the US the less competitive we are in the world market.
Why didn't you report on how the tariffs are affecting China
I could also be experiencing Saratoga and I'm isolated. Yet we could never lo I walk the empty towns and streets and a are apparently blindse right?
These kids are CLUELESS as to the reality of what this is all about.
Please. Enlighten us since you seem to think you know better lol
Quite shallow and superficial (as well as highly one-sided) report. Designed for dummy’s I guess.
China didnt steal. It was a technology transfer in return of having business operation in china. Japan n other countries also hv the same type of business structure
BeGood 2Me just like some American fake Chinese restaurants ,but at least Chinese fake apple stores iphone are all real.and because of iphone more and more uninspired ,less and less fake apple stores in China now
BeGood 2Me Maybe.but less and less fake apple stores is truth .Chinese national tv station report these fake stores few years ago ,more and more people knew some stores are fake,now they are gone
@BeGood 2Me Prove it
dummies usually support our enemies,
"President Deng Xiao Ping"? I don't think he's president.
Chairman and president is the same.
@@randomalien7746 He's never a chairman of China either. I'm surprised the Economist made this mistake.
This video maker is definitely not expert of China. He seems to be a common guy who did some homework.
Deng’s highest public office is vice premier
Deng Xiao Ping was the leader who started China’s economic reform. This reform had helped lift 800 million Chinese people out of poverty and created the world largest middle class. Peng passed away in 1997.
If the US’s government were to consider themselves as morally and sensibly normal, then they should put their relationship with China as that of two healthy sport competitors. Either they win or they lose which is bound to happen in any competition, they have to accept it with a sense of decency and responsibility. It is senseless and outrageous and in short nonsensical and shameful for them to put blames and make slanderous accusation against their competitor for stealing their so-called training techniques and so on and even treat them as their enemy by giving all sorts of self-deceit reasons just because they lose in the competition.
all the comments are saying this video doesn’t say it all... so can someone explain so i can understand??
when you claim China that is stealing technology from America, you really have to provide a specific example, so far I haven't seen any evidence that supports that claim, everyone knows you need to have references when you write a paper.
I hope you are joking....most successful American products get cloned in China and then resold on places like Amazon if you can' see that then no use talking further..
@@andrewfreeman88 what do you mean the “successful American products”？
@@blacktea165
iphones = HiPhone
Electric bikes skateboard brands
Landwind Suv
Shijingshan Amusement Park
Wumart
Sunbucks in Shanghai
and many many more it's well known..
I think they meant 5G . Oh wait , America didn't have 5G to began with
@@andrewfreeman88 oh , you will see this in other countries too
Why does anyone watch this instead of China Uncensored ?
to answer
China uncensored only report China's negative side
Chinese people are smart and diligent.
I noticed there wasn’t much on this angle regarding China’s devaluing of the there own currency! Our current President is the first one to stop selling out our nations domestic political landscape to a foreign power.
I don't think this video is the same quality as the previous Huawei one. It shows one guy saying, he thinks China is stealing technology, but no opinions from the opposite side? Also another guy says Huawei is subsidized by the Chinese government, but again no argument from the opposite side?
But those are facts
There are documented examples of this
Colm Murphy yeah yeah. I guess you are right, China is stealing 5G from the US. It’s so powerful and the Americans are so afraid of it. Lol
@@Brickfrog427 Those are accusation repeated by the US government a thousand times, but they are not facts yet. I'm here to see the evidence but I'm disappointed.
@@Brickfrog427 It's actually a fact that China has higher number of IP infringement law suits than in the US, more pirate movie/music downloads, asking foreign companies to sign agreement of tech transfer in order to exchange for the market, etc. However, those are not government supported tech stealing/spying. It would be absolutely ridiculous and crazy if the Chinese government send agents to steal tech and hand them over to private companies. This accusation is something Chinese people found laughable but Americans actually believe. It sounds like an excuse to start the trade war, just like WMD in Iraq and chemical weapon in Syria. It may or may not be true, but it needs proof instead of simply repeating it a thousand times.
The only proof is trump's word "and that's what they are doing". Extremely convincing huh
That didn't tell me anything that isnt already widely known
Americas gets jealous or cant tolerate other country's progresses..??😂
Did I miss the part where they explained how this trade war have impacted China? Because I can't seem to find it. Only saw some information on how it had impacted USA, sure maybe that is the most interesting thing, but I would have liked to see some information on China's industry and how it had been impacted.
Yet the deficit jumped by 5.4 % and America export fell 7 billion compared to last year 🤔🤔🤔
@XxVidzxX and who can hold out the longest. Egos are involved.
@@rainmaker704 u.s can hold out longer since they can print us$ but still if china really means to fight on then this can go on for decades
@@kekw3271 it probably will go on for decades unless someone throws there ego out the window and try to build together for the future. That sounds to easy tho lol.
Rain Maker We are on the verge of another industrial revolution and the country who wins in this competition will be the dominant force in the world until the next industrial revolution. I’d give it 10-20 years. Either US succeeds in orchestrating Color Revolutions in China and breaks China apart, or China successfully surpasses US and fundamentally reshapes the world. But change is inevitable for every human being on this planet.
@@megren1207 The USA will lead the future as ideas of human rights and freedom spread across the globe.
So basically, when businesses are suppose to be competing against each other in the world, in China you are not only fighting off your competition but also the Government. How the freak do you expect a foreign company to win, and what make you think those Chinese companies shouldn't be subject to the same treatment on a different nation?
Why is there never lists saying:
Which CN Co steal which tech from which US Co?
Trump did admit that China is growing fast and are on the rise at all levels of development. And he also admit that he wants to change America approached with China and move America away from U.S/China relationships in a new ways.
this vid is really basic economics for a journal called "the economist"
right....but finally I know what a tariff is! (They're making an attempt to balance between accessibility and insight, i suppose.)
If you want advanced economics, go to a journal website like Elsevier. Otherwise go on the Economist. No layman is going to care about elasticities of demand or math on tax rates.
This is TH-cam not an academic journal. They know their audience, do you?
nice apple commercial
A wise Person will understand Corona virus was targeted to who.
Bro its very clear over here, china was the target though
Rofl he literally says sure the america spied too 😂
Findyification that made me laugh too lol
Every single country spies. The difference is not every country spies and then copies products and sells them to other countries for profit.
@@chickenfishhybrid44 really? where america 5g and high speed train 😂
no one copy america a poor.corrupt virus ridden country 😂
typical american delusion
high speed rail isn't nearly as beneficial when your citizens are spread out and not crammed together like sardines. It's still in the works anyway. If you think the US doesn't have tech to steal idk what to tell you.
hey Americans, do NOT stop what you're doing, keep up the trade war !
This message brought to you by Europe gang
trying to take the lead eh?
@@raptorjesus6398 Actually Europe's suffering from this trade war as well, since nowadays the value chain is global and the economy of countries like Germany and italy is pretty much based on exports
China will eventually win when US whites become minority and overrun by Hombres and Daquan.
More like americunts
Trump, in the Chinese folk, we affectionately call him "Chuanpu" "Chong Jianguo", we call him a comrade!
Compared with his predecessor, Obama, he has helped China more and more directly. As the Chinese people, our Chinese people sincerely wish him re-election in the 2020 general election.
At 1:09, Soumaya Keynes intro's as the Economist magazine's Trade and Globalization Editor
When millennials struggling to pay off their first home/car are dishing out economic insights ...
Ok boomer
Ok boomer
@Veris what he's saying if you can't manage your own finances you have lil right to be an expert on world affairs
@@vernonherb bit of an odd thing to say though considering theres nothing to suggest any of the people in this video can or cant manage their finances
Economist, why dont interview chinese expert to give balanced view?
Marshall Kinnaird not all Chinese are communist, and what’s wrong with COMMUNISTS? It’s stereotype.
*Same as their last video regarding 5G, only interview US think tanks.*
Marshall, the same as WW2 and they arent communism. Well i find another view when I watch CGTN channel and they speak english ☺️
Dahlgren Data you say that like America isn’t.
Marshall Kinnaird you capitalists pig are joke, fk off.
China: "No deal I don't want to play by the rules"
Does America treate US companies different ot others?
China just came out with a better tone toward their tech industry and markets. Assuming that geo political events do not get worse between the USA vs China. I am making a Long term asset accumulation bet on BABA.
China has a brght future, but BABA has not. The economic engine of China has shift to Electric cars and solar power manufctory--from a Chinese investor
Who is gaining out of this trade war and the economic slowdown ?
The elites!
Future generations who will hopefully not live under communist dictatorship
@Lei P They want a global crash! And buy up more real assets fool! Many elite are holding records high CASH! And many ceo are selling their their own company stocks for cash! Don't have to believe me, look it up yourself.
@Jimmy Chou Even worst lol! The big farming corporations using the bail out $ to buy out small farm! That just F up!
Very misleading :/
Amazon paid 0 tax in the US, if that's not government subsidy I don't know what that is...
WAIT will they have a war in hong kong and macau
Quality of this video is pretty meh by The Economist's standards, wow.
As if they had one lol
This piece wasn’t informative at all
The map is wrong about China
Apple still loves and greatly benefits from manufacturing in China. iPhone is still the most popular phone in China.
It's better to invest in diversified political governing body in human race for the long future. Allow differences and improvise. There is no need for any country to become more like the other as long as there is no mass destruction.
The analysis third rated....
The logic of the trade war with China is actually very simple.I hope China will always be a low-end industry, while China is unwilling to have only low-end industries.
The United States is afraid that China's industrial strength will become stronger, threatening its dominant position.
China did not force the US to setup factories in China, China did not force Americans to buy Chinese exports!!!! The reality is that both US and China, gained from international trade. BUT, the big difference is how this benefit was shared with the masses. In China, the majority of benefit went to average Chinese while in US only the 1% gained all the benefit !!!