Jay Shambaugh

Jay Shambaugh, an economist and former Under Secretary of the Treasury for International Affairs, shares his expertise on the shifting landscape of world trade. He highlights China's persistent trade surplus, driven by state-led investment and overcapacity. Shambaugh discusses the global implications of the 'second China shock', the need for economic restructuring in China, and the challenges of unilateral U.S. policies. He also emphasizes the importance of targeted tariffs and the impact of immigration on the labor market, providing valuable insights into the current economic climate.

Jay Shambaugh, former U.S. Treasury Undersecretary for International Affairs, delves into the complexities of U.S.-China relations. He discusses the temporary pause in tariff escalations and what China truly seeks from America. The conversation highlights the contrasting negotiation styles of the Trump and Biden administrations. Shambaugh emphasizes the intertwined nature of trade policy and national security, while advocating for effective communication as key to navigating future economic cooperation.