The Tom Woods Show Ep. 2633 Is China Guilty as Charged?
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Apr 18, 2025 Kevin Duffy, Principal at Bearing Asset Management, dives into the complexities of U.S.-China relations and international trade. He discusses the effectiveness of tariffs and the myths surrounding China's economic competition. Duffy critiques the misunderstanding of China’s technological advancements and urges a more nuanced view of trade dynamics. He also shares insights on investing wisely in uncertain times, focusing on gold and opportunities in Asian markets, encouraging listeners to rethink their perceptions of economic challenges.
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Trade Is Ultimately Win-Win
- Trade is win-win when peaceful and voluntary; it benefits both individuals and countries involved.
- The U.S. runs a large deficit with China, but considering multinational business, no real trade deficit exists.
Forced Labor Claims Are Politically Charged
- The forced labor narrative on China often traces back to U.S. government sources and political motives.
- Companies like Skechers have disproved forced labor allegations about their Xinjiang operations.
China Imports Bring Consumer Deflation
- Chinese dominance in low-cost goods has contributed to price deflation for consumers in the U.S.
- Products like smartphones and TVs became far more affordable thanks to China’s manufacturing.