ChinaTalk Wendy Cutler on US-China Trade Policy
Dec 13, 2020
Wendy Cutler, a former trade diplomat with 28 years at the US Trade Representative and now vice president of the Asia Society, shares her insights on US-China trade policy. She discusses how President Biden might engage Beijing by leveraging allies' concerns. The conversation delves into the evolving dynamics since China's WTO entry, the challenges of state intervention in China's economy, and the importance of modernizing the WTO to maintain global trade stability. Wendy also reveals some creative trade policy ideas, including a surprisingly humorous concept involving a Strategic Shiraz Reserve.
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Escalating Trade Actions
- China's trade actions are escalating, impacting countries like Australia, Korea, Japan, and the Philippines.
- These actions demonstrate China's market power and ability to coerce other nations through trade.
Chinese Negotiation Style
- Chinese trade negotiators are less conversational, more formal, and deliver longer lectures.
- They operate with limited flexibility, requiring frequent breaks to consult higher-ups.
Trade and the Middle Class
- US trade policy hasn't focused enough on helping the middle class, contributing to anxieties about trade.
- Domestic policies addressing education and worker training are crucial alongside trade agreements.