The Daily The President Takes On China, Alone
May 15, 2019
Peter Goodman, Economics correspondent for The New York Times, dives into the escalating U.S.-China trade war ignited during Trump's presidency. He discusses how years of failed negotiations have led to unilateral actions that threaten the global economy. The conversation reveals the stark consequences for American workers, particularly in manufacturing, as trade dynamics shift. Goodman also highlights the emotional and political ramifications of this trade conflict, showcasing the complex landscape of national identities and strategies at play.
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Early China Trade
- Early trade with China was seen as a solution to Cold War tensions and a path to democratization.
- It also offered U.S. companies access to a massive potential consumer market.
Winners and Losers
- While trade brought cheaper goods and manufacturing components, American workers in key industries suffered job losses.
- Policymakers failed to mitigate the negative effects of deindustrialization on these communities.
Unfair Trading
- China's trade practices, including restricted market access, forced technology transfers, and intellectual property theft, are widely criticized.
- Many American companies now feel victimized.