China, President Trump, John Taylor Stanford University discussed on

Automatic TRANSCRIPT

Same thing that china is taking advantage of this country we have now a president with the courage and vision to basically address that situation well i'm looking for the president has said quite clearly two things one he'd like to see a hundred billion dollar reduction in the trade deficit this year and he would also like to see china which respects our intellectual property rights and basically becomes part of a global trading system where we have fared reciprocal trade i mean it's it's not too much to ask i mean look we have a trade deficit in goods with china that soared now to three hundred seventy billion dollars a year by some calculations one billion dollars trade deficit duda i'm fair trade practices basically exports six thousand american jobs to china if you just tally that up that's over two million jobs good manufacturing jobs we've sent off shore to china and year because of that deficit and it pushes down our wages china join the world trade organization just give you this because it's sunny when china joined the world trade organization two thousand one their economy has grown from one trillion a year twelve trillion eight hundred percent growth rate it where we went into a year basically the moral two percent growth rate went the previous but we're coming off of a hugely larger base doctrine navarro john taylor stanford university and paul krugman of princeton don't agree on whether the sun comes up in the east but they both agree that navarro economic don't good morning dr taylor listening out in stanford and paul krugman listens every day okay but they both agree that navarro economics is flawed how do you respond to the laureate from princeton and the gentleman from stanford that invented a lot of our monetary economics when they say navarro economics is wrong how do you respond mitch quite simple i'm of the belief the strong belief based on analytics that trade deficit and trade imbalances create unemployment and low wages in the united states and in doing so they threaten our manufacturing base and defense industrial base and i'll tell you this when i wrote that book you referenced earlier the coming china wars in two thousand six everybody accused me of hyperbole but right now it's the.

Coming up next