Why the West just started a second trade war
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SOURCES:
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https://www.moneymacro.rocks/2024-05-29-2024-05-29-trade-war-II/
Timestamps:
0:00 – introduction
1:46 – how we got here
10:41 – the problem with Chinese exports
15:28 – the future and Nebula
Attribution:
Music by Epidemic Sound: http://nebula.tv/epidemic
Thank you to AP Archive for access to their archival footage.
Narrated and produced by Dr. Joeri Schasfoort
Edited by Chris Adewole
Why the West just started another trade war
China v the West: is this the start of another trade war?
31 Comments
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Hold on so if the central issue here is Chinese subsidies, why arent the enormous subsidies the US grants to its domestic industries grounds for the same analysis? For instance agriculture, oil and energy, aerospace, auto, housing, healthcare, or heck the most recent CHIPS act? And isnt the Inflation Reduction Act essentially subsidization?
Chinese spying versus Western government spying…. I would not care about Chinese government spying because I dont live there…. So why should I care?
I got two points:
1. Most of emerging market has a long habit of putting tarrif of everything. So, they aren't doing anything new. They aren't exactly doing the export lead growth either, given the sorry state of most of their economy.
2. I wonder, if China is a potential threat, and it's taking wrong economic turn, then why is western nations worried? Isn't this an outright logical contradiction?
well damn, does this guy really have a doctorate? or is it like a Dr. Dre thing.
we have doctors making youtube videos now. youtube has come so far.
本来希望看看从一些国外经济学博主的视角出发的国与国之间经济互动的见解，想着或许能从不同的视角与思想中发现一些新东西，结果令人大失所望，博主或许只是看了一些CNN BBC 彭博社之类媒体的报导或以这些媒体的报导在加上自己的一点解读和臆想就做了这个视频，忽略了中国是一个有着与西方不同制度的国家，做出的很多政策有着与西方不同的逻辑，同一项经济政策在不同制度与不同国情下运作有时候会有他们不同的效果，而博主忽视了这些差异以西方思维来理解一个与其不同的存在，自然大多数时候会出现一些在西方视角看来难以理解的事情，同样的，一些西方经济学博主解析中国的视频搬运到中文互联网上，我们这些中国观众也会认为这些国外博主犯了很多常识性的错误，这是因为西方经济学博主不了解中国执行某件事背后有其自己的逻辑，于是把一些事套用在自身从而得出结论，总而言之就是该视频博主其实并不了解中国，与中国相关的结论自然也是有问题的，至少在这方面我个人认为该视频博主并没有真才实学。
This video makes me realize how wrached the west has become. The rot has infested down to intellectuals who now fully in "Us vs Them" mentality. To the western nations, everyone is their enemy, they hold the Royal septer to to any crime, any genocide, any humanrights violation and punish anyone they wish.
又一个纸上谈兵，数据和理论离谱的😅
This national security concerns regarding Russia and China could have been seen miles away, right? Are the political elites in the West so profit driven and corrupt that they just ignored it? Or is it plain incompetence? I doubt the latter
Hello Michael Pettis. ^^
USA and Europe do remotely turn off vehicles over the world, like in Russia. And now fears about China can do the same. LOL. Guilty.
Second very interesting thing – if China produce so cheap materials and equipment, then why our life became so expensive in last 20 years? And if you cut off chinese goods it will obviously became unmanageable. People in "developed" countries are trying to survive already. Most of them can't afford like USA goods or Europe goods on their salaries. Average car will cost like 100k$. The only escape is to take money from "non-developed" countries like China, Brasil, India, Russia, Africa selling them overpriced services and machines. But know what? They will not buy usa's and europe's goods anymore because their internal market is already saturated with domestic products. It is not China, that can't survive isolated from foreign resources, it is USA.
Only good things have come out of wars. The deaths are sad, tho.
It's not the world rejecting it it's the politicians
The presenter is selling a cooked up point that China will shut down EVs all over the world? Does this make any sense? Is Google and Microsoft going to shut down all the computers people are using in other parts of the world, not in the US home turf as well????
Great, a nebula news section… That does it! Im gonna sign on…
We need to make our own products again.
Transforming into a service-oriented economy requires you to have high-end manufacturing industry first. Such as automobiles, semiconductors, large aircraft and so on.The larger the population, the larger the scale of high-end manufacturing is needed, Otherwise, you blindly transform into a service-oriented economy, you will lose the low-end manufacturing, and high-end manufacturing is not enough to maintain the trade balance, many people will be unemployed and homeless, just like the United States or worse. The CCP will transform China into a service-oriented economy when they are confident enough. Solar energy, batteries and EV, which are high-tech products, so China is not competing with developing countries. On the contrary, China's competitors are developed countries. China overtook Japan as the largest automobile exporter, not Mexico. Moreover, China has set up automobile factories in Mexico, Brazil, India and other regions, just as developed countries have done.
I’m concerned that there are at least 2 problems with analyzing the benefits of free trade. First, free trade looks more like a low energy arbitrage that has led to over consumption. Second and related, when we factor in a realistic carbon price, I suspect that harvesting resources in the West and shipping back finished goods may be laughable.
Isn't China only exporting 15% of their EV and mostly it is domestic consumption? I don't know how that's over capacity. Seemed like they iterated the product internally and it was just really good lol
Chinese Government subsidies for Green Energy is good to slow down climate change. Why must the West discourage affordable alternative green energy?
This would have made sense if Chinese EVs and batteries weren’t superior to whatever western oems can make. Additionally, western produced EVs and even ebikes and grid-scale storage also depend on imported Chinese batteries. So, overall the tariffs don’t make sense, the Chinese worked hard and achieved success, now we’re blocking them because western car companies don’t have anything interesting to offer to customers.
Thank you so much Dr. Joeri Schasfoort
why do you say that the us-china trade war ended in 2020? even Wikipedia states that is "ongoing since January 2018". didn't expect this from this channel mah
Stupid, you need to learn more, Things don't work that way. China can stop EV cars 😂😂😂😂 security😂😂😂😂😂
Bringing back jobs, protect them from competition, develop local industry, bla bla bla… yes it's a nice pitch for voters in Western countries that have been affected by de-industrialization. However, if you accompany that pitch with a dose of reality ("And it is you, consumers, who will pay the price of this protection by paying higher prices on everything"), it is a lot less appealing already.
How many politicians in Europe and the US are stating this reality? In other words, such policy will be inflationary. Also as mentioned by others, beyond the US and Europe, China still has big markets to target with its EVs. And the anti-China rhetoric in Africa or South America is far weaker than in the US-centric sphere.
Brazil is not taxing China specifically, it's taxing ALL IMPORTS. They want to disincentive people from importing to "protect" our local market, which funnily enough, imports most of its products but pays overall less taxes because they buy in bulk. It's corporatism. A lot of politicians benefit from this since they are financed by those same corporations. Also, the current government leans a lot into taxing as much as possible as a way to generate more revenue, which is shortsighted, but they're not known for being intelligent.
Yikes 🙀🙀🙀
Recently, the app Temu gave tremendous ad promotion. This app is Chinese spyware infecting your smartphone.
China has been in trade war with the West all along. This new dumping is part of Xi's plan. He's not as dumb as he looks.
First, Taiwan case isn't like like Ukraine, even if war break out because China invaded, gonging to war with China will be disaster for almost every sector for almost every country…
Second, Taiwan wont go to war with China, most likely scenario is it will merge like HongKong and the Republic government will merge like other politic parties in China, sure thing the ccp wont fear any take over as they have the most members and supporters/voters in mainland China.
What’s your definition of “excess production”? Which government doesn’t subsidize their own industries? In China , currently the wait time for a EV after placing an order domestically is months! Germany used to export 75% of its car to China. No one said a word about that. You have to be some kind of a mouthpiece for the western experts like Yellen who is inventing new definitions of economics on a daily basis.