ChinaTalk EMERGENCY POD: JD Vance's Economics + How to SPR Critical Minerals + Policy Entrepreneurship
10 snips
Jul 17, 2024 Arnab Datta, Director of Policy Implementation at Employ America, and Matt Klein, author behind the Overshoot newsletter, delve into pressing economic topics. They dissect JD Vance's views on dollar dominance and industrial policy, offering a humorous take on legislative strategies. The discussion also covers the evolving role of the Strategic Petroleum Reserve and its lessons for managing critical minerals. Plus, Arnab shares insights into policy entrepreneurship, while Matt offers a lighthearted comparison between fatherhood and Navy SEAL training.
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Episode notes
Dollar Reserve Status
- J.D. Vance's questioning of Jerome Powell about the dollar's reserve status reflects ideas from the book Trade Wars are Class Wars.
- The dollar's global role creates mismatches between global and American economic interests.
Devaluing the Dollar
- To devalue the dollar, make U.S. assets less attractive to foreign investors.
- This can be achieved through legislation like taxing foreign asset purchases, or central bank intervention by buying foreign assets.
Impact of Devaluation
- Devaluing the dollar would make U.S.-made goods cheaper for Americans, potentially boosting exports and investment.
- However, it could also lead to inflation and harm import-oriented businesses.
