Caroline Freund, Dean at UC San Diego and expert on US-China relations, discusses the complex dance of trade negotiations between the two powers, highlighting the need for respectful communication. David Harden, CIO of Summit Global Investments, shares insights into market volatility and investment strategies, emphasizing the impact of recent semiconductor sanctions. The conversation reveals market dynamics influenced by tech restrictions and consumer credit resilience, painting a picture of cautious optimism amidst geopolitical tensions.
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insights INSIGHT
China Demands Respect in Trade
China values respect and gradual negotiations due to its 5,000-year history and dislikes chaotic top-down approaches by the US.
Tariffs and trade tensions between the US and China disrupt this expected diplomatic process, causing friction.
insights INSIGHT
US-China Economic Symbiosis
China is a tech-advanced economy excelling in EVs, autonomous driving, and AI though still behind the US.
Despite issues, mutual dependence remains strong due to global supply chains and economic needs.
insights INSIGHT
Mutual Need in Trade War
Both countries need each other: China needs US consumers to buy goods, while the US relies on China's manufacturing capabilities.
Sudden decoupling would cause painful economic consequences for both sides.
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In 'Rich People, Poor Countries', Caroline Freund examines the role of nearly 700 emerging-market billionaires in driving industrialization and economic growth in developing countries. She highlights how these entrepreneurs are transforming economies by creating multinational industries and service-based mega firms, often without relying on political connections or inheritance. The book explores the implications of this wealth creation on inequality and economic modernization.
The Trump administration is preparing to pressure nations to curb trade with China in negotiations over US tariffs, according to people familiar with the matter.
Dozens of nations are seeking reductions or exemptions from President Donald Trump’s historic import taxes. In exchange for doing so, the US is set to ask them to take steps limiting China’s manufacturing might, a bid to ensure Beijing doesn’t find avenues around Trump’s tariffs.
Trump’s top economic advisers are discussing asking representatives from other nations to impose so-called secondary tariffs, essentially a monetary sanction, on imports from certain countries with close China ties, according to a person familiar with the process. The US also wants trading partners to refrain from absorbing excess goods from China, other people said. Other concessions on China may also be put on the table.
Mexican officials are expecting the US to ask their country to increase tariffs on electric vehicle imports from China, according to a person familiar with the government’s thinking. Mexico’s economy ministry declined to comment.
Today's show features:
Caroline Freund, Dean of the School of Global Policy and Strategy at UC San Diego on US/China relations
Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani & Bloomberg Technology co-host Ed Ludlow on latest Nvidia & AMD news
Silvio Tavares, CEO at VantageScore on bank consumer sentiment and retail tariffs affecting credit scores
and we Drive to the Close with David Harden, CIO of Summit Global Investments
Hosts: Carol Massar and Tim Stenovec Producer: Sebastian Escobar
Bloomberg Businessweek 
