How Should the United States Address Its Chinese Trade Imbalance?

ORIGINALLY RECORDED March 9, 2011
Experts outline variables such as nominal exchange rates, foreign exchange interventions, and macroeconomic imbalances as contributing factors affecting the trade relations between China and the United States.
This event was part of the McKinsey Executive Roundtable series in International Economics
SPEAKERS:
Eswar Prasad, Nandlal P. Tolani Senior Professor of Trade Policy, Cornell University; Former Head of the China Division, International Monetary Fund
Peter Schiff, President and Chief Global Strategist, Euro Pacific Capital
Shang-Jin Wei, N.T. Wang Professor of Chinese Business and Economy, Columbia University; Former Head of the Trade and Investment Division, International Monetary Fund
PRESIDER:
Joyce Chang, Global Head of Emerging Markets and Credit Research, J.P. Morgan
www.cfr.org/china/should-unite...

[@Aahlookoutbehindyou]

53:27-56:27 The three best minutes of the video.

[@MrPeace4uall]

Peter schiff makes it clear and simple, the way it should be, america is well done!

[@Piitsi]

The marriage metaphor was genius. Lolled so hard.

[@BMANZZS]

This Peter Schiff guy is smart and sensible.

[@1australianbeacon]

Peter is well versed I hope he is the real deal if he is may he be protected the people need him!

[@holidayhouse03]

what do I have thats made in america...S&W .38 speecial...S&W 22A pistol...Ruger 10/22 carbine...Mossberg 500 12 gauge....and lots of ammo

[@c00per69]

All I know is my dad worked at a Ford plant thirty years ago and made $ 40.000.00 year. His brand new car in the drive cost 3,000.00 his house cost $45,000.00 and popsicles where 5 cents. Today I make 40,000.00 a year my house cost $350,000.00 a new car costs $30.000.00, and popsicles are $1.75. I make the same money he did but everything here in Canada is WAY up in price. Yet all the banks say inflation is WELL under control ? Maybe I am to dumb to understand complex economics.

[@DRationalOne]

@c00per69 You understand economics just fine. You can thank your federal government and its tax, spend and regulate policies for the difference in spending power you describe. Ronald Reagan said once that Big Government's motto was: "If it moves tax it, if still moves regulate it, if stops moving subsidize it." We've allowed our government to continue to do this to our ultimate peril.

[@skibumwilly1895]

In “Inheriting an Abundant Earth” on youtube, The President's adviser gets advised by an underachieving old college pal, and a simple rule tweak on inheritance ends up changing the direction and purpose of modern human life! See if this short discussion RINGS TRUE as the systematic fix we all long for and can't find? Watch "“Inheriting an Abundant Earth” on youtube.

[@myebay4u]

@Piitsi LOL , yes, genius Way too much logic and common sense for the lady @37:10 ! :)

[@rolgorevene]

touche peter

[@Helionaeic]

@c00per69 You are doing it wrong! You are supposed to ignore what your eyes tell you and listen to the experts. That is the lesson taught from publik school anyway =).

[@infotechsailor]

I'm a Schiff-Head

[@lazymathstudent]

@jdonald05 That is very unlikely to happen on its own. Many big US companies are producing their products abroad because of lower labor cost. Therefore, the strong dollar is actually putting Americans out of work. So, the first step is china backing out of US dollar. Next, the dollar sharply falls. Then US companies will be able to employ its own citizens and unemployment will fall. The US standard will be lower but people will be living better :), since the unemployment will be low.

[@khriswest]

Peter you need to moonlight as a comedian

[@captkirkconnell]

When someone went to a lot of University, I can not understand them. I can understand Peter so he must not of went to a lot of School. The other speakers must of been studying for decades. Control the universities then youi can counterfiet Money and enslave the diligent.

[@angel2901]

I love Peter but he was wrong. I mean, does he really think the German government is smaller than the US?

[@romanmir01]

Well, Peter is clear, but the other 2 guys also made good points. I think Peter missed an opportunity to say something there though, and this touches on the sex imbalance in China. If men are saving money and trying to be competitive in China to get women, they really need to have more purchasing power and they really need a convertible currency, that way they can bring wives from other nations! They can find women in other countries, including USA, why not?

[@peterprasad3927]

China? Fatten them up on debt & credit.

[@nickk707]

not this time lol

[@auctionmusic]

The guy on the far right mumbles and talks fast, cannot understand a word... The guy in the middle slurs his words, cannot understand him either... The guy on the left talks clearly, slowly, and you can understand every word...and he uses metaphors that are understandable as opposed to fancy schmancy economic mumble jumble talk....