China & the U.S. in the 21st Century

Former U.S. Trade Representative Charlene Barshefsky, China Assistant Minister of Commerce Li Chenggang, former Director of the National Economic Council Gary Cohn, Sinovation Ventures Chairman Kai-Fu Lee and China Securities Regulatory Commission Vice Chairman Fang Xinghai discuss the risks of the world largest economies decoupling. Bloomberg New Economy Editorial Director Andrew Browne moderates during the Bloomberg New Economy Forum.

[@leoncioco3305]

This is one video conference where d listeners could actually learn n be informed. The moderator ask serious question n get back serious answers. It’s refreshing not to listen to mind numbing China bashing. 👍

[@anesthesiabeyond8519]

Bravos to all the panelists and especially the host. 👍👍👍 This is the best one I heard so far about US- China relations in a long time. It was fair and balanced. Each panel is heavy weigh figure in his or her field with executive experience. This dialogue is so refreshing after almost four years of bombarded by the one way extreme harsh criticism of China. US and China relation is the single most important one in the world. I hope the leaders from both great nations have enough wisdom, responsibility,patience and open mind to negotiate towards win-win situation. The world is watching and waiting. The world doesn’t not need bully and bullying doesn’t work! I strongly believe both parties need to adapt and change for both great nations and the rest of the world. Especially I like Dr. Kaifu Lee’s view that both countries should start with constructive, collaboration on pandemic control, climate change.. to build up trust which had been lost in the past four years. Mr. Gary Cohen was right and is right. Tariffs are not right thing to do and doesn’t work. I wish he could stay in the administration longer to have more influence. Once again, great discussion 👍👍👍. Great panels 👍👍👍

[@hau8072]

It's so nice and refreshing to hear adults talking and discussing difficult issues in such a constructive and civilized manner. Shouting n screaming only aggravate matters.

[@phillipalexandercarr1462]

Mr Fang is impressive gentleman

[@earthpathipoh]

As human race , we shall cheerful when our peers is doing better. THAT's the utmost beautiful thing to happen, it's call LOVE, COMPASSION , a value shall be adopted by all human and making a better WORLD for all. It's shall be an universal value,too.

[@jenniferzhang864]

Great comment! The world needs more peace less war...

[@csry3239]

This is relationship between countries instead of individuals. Hope is always promising but reality is pinned down to interest and relative national power.

[@earthpathipoh]

We, human race, shall learn to hv "WILL", hope is too limited. That's the ancient wisdom in Chinese/ Eastern tradition. *修身齐家治国平天下* To cultivate the moral self, regulate the family, maintain the state rightly and make all peaceful.

[@darkprince8288]

​@@earthpathipoh shouldn't that be: "To cultivate the moral self, put the tibetans in slave labor camps, ban any speech critical of china, attack weaker countries, and dump crappy products on the market"

[@earthpathipoh]

@@darkprince8288 Buddha once mentioned a hell being like to live in darkness that's their nature, and difficult to englight them with brightness 😎. Now you make me totally agreed with Buddha.

[@robertgittings8662]

The US does not like to be unseated by anyone (communist or not), the thing they did to Japan basically killed Japan's economy - it still stucked three decades later

[@who52au]

Yep ! and Japan can't do about it! unfortunately to America, they are finding out that China is not a " punching bag " and the rest of the world also take notice!

[@grahamclim]

The winds of change have transformed since the time with the transformation of Mainlanders from rags to riches as the world soon took notice of China’s tough and audacious road to prosperity. Hard work has been the passport to success by the Chinese people. A bunch of dreamers who were industrious, and innovative, and continued to meet the challenges brought about by the new business methodologies.

[@Mar-ec7et]

I like Gary Cohn answer. This man is logical and cool minded. Someone chinese will more likely to work with.

[@sword7872]

Didn't he say he was part of the trump administration though and is not part of the biden administration?

[@Fabsurf101]

Charlene couldn't be more absurd with her comments is so over the top, even the moderator couldn't help but quickly turn to the next guest without further follow-up questions.

[@joylove8693]

Mr. Kaifu Lee is a great man, well said, many thanks.

[@phillipalexandercarr1462]

33 min in is the best/pivotal/dynamic question anyone has asked that I’ve heard this year to date. Good effort

[@optimalwin8327]

Charlene, you cannot look at economic issues in isolation and then said China should do more. It did not work, it do not work, and it will never work. You have to examine all issues in the relationship and address them all in good faith in order to have successful relationship. For example: What make USA think it is entitled to have over 400 military bases surrounding China???? What make USA think it is entitled to always have the hostile intention of containing China???? What make USA think it is entitled to make others be the same as USA???? (lets turn the table and see how USA feel.) There are endless number of offensive issues the USA need to look into the mirror and ask itself how wrong all these self serving entitlements are.

[@joylove8693]

Agreed with Gary, he is very sensible man.

[@andreen888]

When China started the journey to reform, it is in the nature of the Chinese people to start thinking of making money quickly through business. And so the Chinese economy started to pick up quickly. Being hardworking and ambitious, many Chinese were quick to get into any business that will make them rich. That is where innovative minds start.

[@fenghanzhang3183]

This host is much more friendly than the one from "Hard Talk" BBC...

[@pauldirac3203]

😹😹

[@xixipiisacanine5505]

on the surface, lostess has a veneer of sugary image but she is control by CCP fake news

[@fenghanzhang3183]

@@xixipiisacanine5505 BBC do fake news,

[@chianyihyew1331]

“Hard talk"? Spouting bias and misinformation at best.

[@xixipiisacanine5505]

@@fenghanzhang3183there're 100 nations follow BBC and only a handful of nation gollow CGTN or Global Time (Fake news)

[@dinghy4760]

This is about the best balanced and intelligent discussion, panel members having absolute knowledge of their respective fields & succinctly expressed.

[@phillipalexandercarr1462]

Anyone who has any naggin* doubts at the back of their minds about the capacity and capability of China’s semiconductor pedigree watch a show on Shenzhen then reconsider

[@phillipalexandercarr1462]

Brilliant show thanks

[@Myway0107]

Why chief negotiator seemed to be blame China only. Would any negotiation be successful if both sides work towards a win-win by comprising?

[@tfalani3861]

Only China has a win win position. US historically does not have a win win

[@steaminglobster]

USA and China are two poles of the world, they work together to make the world balanced and stable is the blessing of the whole world. Hope politicians of these two countries realize their responsibilities for the whole world!

[@xiaomingguo6826]

You cannot complain both the manufacture cannot go back to the US and the US capital cannot go into China. This is obviously a no brainer.

[@kimchan382]

Not only the US are thinking this! Also Europe or better the Western World are thinking like that. Maybe one day Chinese will blame Africa for stealing their Jobs! If the African are lucky, Robots will make it. And no one need to be blame.

[@MrHistoryFan]

As homo sapiens, we should move towards the community of shared future for humankind. I know that China has been advocating for this, but in my opinion, it is the right direction to go. We should abandon the zero-sum thinking in geopolitics. Cooperation and healthy competition should be the right way for the benefits of the entire humankind. I hope that the human race is wise enough to avoid self destruction!

[@DasRaetsel]

I think we have come a long way and we have a lot more to learn. About ourselves and each other. I'm optimistic

[@sctan8649]

This woman seems very prejudiced against Xi. China is in no mood to humor people like her. China will work on her own terms and not on US terms. Understand this first.

[@yongdeng1813]

She spoke that way becasue she still didnt get china, she doesnt undersrand china just like the majority of westerners. It is that mindset that get america into all these troubles with china...when they going to learn, i have no idea. But they should do that asap. On the other hand, the bald white dude seems to get it and i agree more with him than that lady. But it is good to invite lady like her for the discussion, that way it shows how most of americans think and how they try to spjn their narratives.

[@sword7872]

She represents the US think tankers views of China. Possibly the cia narrative too.

[@lovinenglanduk]

We need more balanced debates and smart moderator like this conference afforded.

[@raylee5030]

This was 3 years ago. The relationship has deteriorated more with more sanctions, accusations of "over capacity", "not play by the rule", etc. and unlawful jailing of CFO.

[@learning2800]

Totally amazing first time watching so many panels talks on any subjects about China, this certainly is one of the best with informative information and comments by the panel. Some made excellent comments and paint a picture how to move forwards, mostly due to their abilities to understand the past and all it's past mistakes.

[@phillipalexandercarr1462]

And a fair answer. I concur

[@xiaomingguo6826]

The US market is now very risky for capital. Companies in the US are subject to governmental heavy-handed intervention, such as Huawei band, Ticktock force sell, etc.

[@Andy-P]

Is not the Chinese Government also heavy handed interventists?

[@nan1090]

US need to open up. Can't imagine the present state of us 4 years ago. The question is Could Biden be able to make it?

[@yulee9990]

Xi also needs to change his approach to be ready for change....such as less state more private market approach toward Economics.

[@htin08]

@@yulee9990 No, China got it right amount of state and private mixed. All China need is to make them more efficient and make them compete fairly.

[@krystalgreco7872]

I feel for the Chinese. They need to take over ccp

[@alliesteamc3546]

Can both US and China put their people first and agree it is not in the interest of their people and people of the world not to agree on giving up nuclear weapons. Money saved can go to helping people, infrastructure etc.

[@phillipalexandercarr1462]

Immaculate and professional and paid in xag no problem 😉

[@joylove8693]

Disagree with with this Female speaker, she seems biased and none objective.

[@Alex-ig2xr]

She is a lawyer and try to be a politician

[@jacky009886]

she think she is still the U.S. trade representative.

[@robertgittings8662]

@@jacky009886 The US does not like to be unseated by anyone (communist or not), the thing they did to Japan basically killed Japan's economy - it still stucked three decades later

[@robertgittings8662]

@@Alex-ig2xr I can tell without even listen to her

[@phillipalexandercarr1462]

31 min in, edit, UK has best manufacturing thank you, sir! 😂

[@Alex-ig2xr]

How fair is the trade should be evaluated by profits made by both sides, not just total volume of tangible goods. US makes a lot more money with entertainment and financial services. Why US only talk about goods trade. Also what about the money US made inside China that is not exported from US? The media always try to omit it.

[@LaBambaCL]

5 decent people having an interesting discussion. :)

[@MrSean03839]

I don't know about the other people but Gary Cohen is not a decent person.

[@LaBambaCL]

@@MrSean03839 i misspoke! i mean, ok speakers who provide a certain viewpoint of interest.

[@saracowgill2144]

Americans are AFRAID of not being the boss of the world. The Chinese country of now grown only children, mostly boys maybe now want all the resources we Americans have pilfered. The American nightmare is to be the labor pool of the Chinese, who buy all our debt, our land, maybe our children, our organs? I for one LOVE the Chinese children and women and a few Chinese men, and their tragic history. I don’t want anything to do with conflict with that great nation. #pandalove

[@phillipalexandercarr1462]

Trust me from the WestEnd China can comfortably deal with anyone zzz capital requirements... 🐝🙏🏽🐇

[@tellitasitis]

In a Global economy Technology Competitively favours the Chinese Model of Authoritive capitalism over the Western liberal Democratic capitalism. In both systems you have a class structure with an elite owning most of the wealth. Technology leads to countries having the ability to control the population in every detail of how they live and that is the reason democracy will probably be replaced by the Chinese model. China has invested in Global sea and road links that provides multiple gateways to china in overcoming potential blockades and makes any attack on china an attack on world trade itself. In the process china has become powerful and rich. Meanwhile The USA has been destroying the world economy with crooked capitalism and war investing even more in the industrial military complex. A military that arguably china has marginalised through their model of capitalism.

[@prozac1127]

@4:52 lol

[@stanleygnoh9356]

Labour cost in U.S. is too high ! Can you bring down your labour cost ? The workers are not on a level playing field ! No trade balance !.....

[@phillipalexandercarr1462]

That said 3 countries is a gift to the world as without tethering the ox with Japan and Korea then even Britain would be circumspect in dealing with that beast alone 🐇🙏🏽🐢

[@phillipalexandercarr1462]

Never mind the speed of China, keeps eyes on speed of Mancunian rabbit 🐰

[@mattcarterlive]

Major factories are 180-day buildouts in 2020. Speak with any engineer worth their salt. Hollingsworth Companies can have these up in less time than this. Commercial Real Estate is not the issue, it's likely more the problem. Workforce development is poor, to Gary's point. However, that issue is exacerbated via bad business behavior and poor attitudes toward reengineering of their own labor development processes. Finance 101: Managerial inexperience and incompetence are the leading cause of corporate (& government) business failure. Mr. Cohn's inexperience is illuminated via his dialogue here.

[@folag]

The truth is that China is concerned about having too much American involvement, keeping in mind that the 2008 crisis had its roots in Wall Street.

[@folag]

Permit better access to the Chinese economy? General Motors, for many years till just recently, MADE AND SOLD MORE CARS IN CHINA THAN IN THE US, and that's not a unique case. What are you talking about? It's the same old story. At the height of Japan's bubble, the Detroit folks complained about how tough it was to compete in the Japanese market. The Japanese replied that perhaps Detroit could begin by offering cars with the steering wheel on the correct side (right side) of the car.

[@phillipalexandercarr1462]

🎩off to🇨🇳 just try to copy the Chinese cat in the 2020s... that cats a tiger

[@simonfang6478]

Haiya.. US has huge potential business to gain fron exports to China by producing more goods rather than to try slow down Chinese imports. US wages are so much higher than China plus having a much stronger currency. My 2 cents

[@bayernarsenal3979]

Does anyone watching and following US politics believe that Biden will serve out his four years? I have hunch that there will be a change midstream.

[@saracowgill2144]

Change? You mean assassination?

[@krystalgreco7872]

Trump will be back

[@kaylevin5193]

Anyone who watches this interview and read between the line should be alarmed.

[@sword7872]

I didn't find anything alarming. I guess you are from the US?

[@Andy-P]

economy "largely growing on domestic demand"... in his dreams

[@phillipalexandercarr1462]

I find little listening opportunities on Twitter and many many many on CGTN TV 🦻🦻

[@phillipalexandercarr1462]

Now a rabbit with a fanged friend I prey!

[@folag]

Reduce the noise and hostility in the rhetoric. Yeah, right. It seems a lot like most of the invectives come from the US.

[@phillipalexandercarr1462]

One lesson may find reason as so why even Mancuniancryptoguy isn’t on Twitter. I’m a professional twit!

[@bud0305]

Part of big reset!

[@awjames1121]

We all know by now usa keep on overprinted itusa dollars untill usa has 500 trillions very Hugh financial debts troubles now???... and cost to mass print each piece of 100dollars face value dollars is actually cost only 0.002cents a piece only???... and usa dare to overprinted BUT not dare to assure and guarantee its overprinted dollars trustworthy like we all can very easily exchange for 1ozs of pure solid gold for how much usa dollars ____????.

[@judichristophersen7238]

No Christmas for us

[@phillipalexandercarr1462]

26min.. China’s not so muchacha Twitter centric

[@user-mr2ix3nq3k]

USA 😘🥳🎮🔥💣🤯☠️💀🦴🦅⚰️👻 China 😘🥳🏗️🧱🏢🏙️🌃🌆🌇🌉🌁🚄🚅🚆🛤️🛣️🚙🚗

[@leontx4211]

fang is talkative until ant...

[@htin08]

Ant is a bank. Ant has to operate under banking rules. Don't worry. Ant will come out strongly as a bank.

[@leontx4211]

@@htin08 Ant is not ordinary bank actually, the State owned banks are really low efficient and has nothing customer experience, and often charge high handling charge, Ant was a real game changer, all banks have to reluctantly change and improve their service due to Ant, but this may also be what the problem is for Ant...I guess

[@htin08]

@@leontx4211 You may have problems with state ownership of corporations. But many people don't have a problem. Ant IPO was under technology company regulations. But Ant is also a bank as well as technology company. So some regulatory adjustments required. I believed it is getting there.

[@leontx4211]

@@htin08 (Yes, Banks are very low efficient for Small & medium company as...forget it) Ant is a company certainly meet all the requirements, Ant asked for IPO which has been approved...and now no reasons....well, I hope Ant can get there, let's see

[@maalat]

Decoupling is a better strategy. China gives up on the 9 dash line, stop stealing non Chinese inventions? Strengthen manufacturing industries in the US. That’s what America First means. Strengthen the economy of the United States locally.

[@michaeltse321]

The us women makes no sense. Be more specific what china is doing or not doing for the US lol

[@sycopath160]

Bloomberg, that right there tells me left wing hacks.

[@Jason-sf8vx]

China needs to open up & open up fast to the whole world . Otherwise China will face great resistance

[@dankschang]

I think you are wrong, its both side need to open up for trade collaboration, cut back in interfering other nation political system. This not another middle east nation where military might can be used upon. Its demonstrate that US need acknowledge using military bully, can't work. For China need to stop using economic coercion.

[@angelsaidferreira5193]

@@dankschang china is the problem

[@normankao7383]

the imperative is for the democratic US to practice what it preaches, democracy and free market. Live and let live and compete with China.

[@kshen7485]

@@angelsaidferreira5193 Now the western countries are all sick, they ask Chinese take medicine instead.

[@yongdeng1813]

LOL china is the problem? Then do something about it. Trump tried and failed miserably whats your next move genius??🙄

[@jasonqian]

No mention of touching issues such as South China sea, Hong Kong, Xinjiang, and the recent aggressive behaviors of the Beijing regime, for example, bullying Canada and Australia, threatening with economic punishment. With these serious obstacles exist between America and communist China, there is little room for a wishful reset of relations including economic ones. The two sides are too divergent in fundamental values that underpin international relationships.

[@raminsafizadeh]

The issue is very clear and no amount of obfuscation will succeed! China, either takes the path of integration into the post ww2 rule based system, which helped it grow to this point, or proceed on a different path, seeking world hegemony and China centric order! During summer, Chinese leadership intention was made crystal clear! It was to be the latter!

[@kshen7485]

Now the western countries are sick, they ask Chinese take medicine instead.

[@kshen7485]

Just because of following this post ww2 based rules China has been achieving as right now. China will continue to do so and at the same time help the west to modify or upgrade these rules, in order to meet the increasing requirements of this fast changing world.

[@DasRaetsel]

I don't like the host. What's with all the smiling? It's creepy.

[@kso8554]

I hear that the bank accounts of some people in Hong Kong are frozen due to china security law. But the real reason is China lacking money. Is it true? What do we need to be caution being small potato in China? Is such operation starting confidence problem of global bank system related with China and then a new global financial crisis ? what should our government do to make sure our banks locally or branches in China not interfered by China government with his own crazy interpretation and demands which are overriding the international law and regulation?

[@simonkelly9013]

Let ship manufacturing out of China and bring the jobs home.

[@Goodfellow1234567]

@Simon, how do you do that? US government doesn't own those multi-national companies, they go where ever it's more profitable. It's now becoming more expensive in China, the US and Chinese manufacturers have started to move to more cheaper places, such as Vietnam, indonesia, and other countries. Unless US prints a lot of money and give these companies tons of subsidies, they're not coming back. You may see politicians to fool you with some publicity stunts because they had success with a few companies, but those are very tiny percentage of companies comparing to those who are not willing to move back to US because of cost concern. Even the ones who move back started to use robots instead of American workers.

[@simonkelly9013]

@@Goodfellow1234567 Take the example of Japanese camera as an example. Most of the top end camera are manufacturing in Japan whereas mid range camera are make in Thailand and Vietnam as you mention labour is cheap over there. Kmart had move out from China couple of years ago and set up shops in Philippines. USA is more into service and research advance technology as they' re still is the leader in the world. e.g As you know, China had bought a lot of American micro chip into their moblie networks As for CHina manufacturers to move elsewhere into cheaper producing nations is a kind of contradiction n silly. Especially the China national average income is well below their competitative markets e.g $4,000 US dollars a year Tell me how are you going to survive that salary in most expensive cities like Shanghai, Chong Ching, Beijing?

[@stephenchen3091]

even Manufacturing is out of China, you should not be naive those will be back USA, capitalism will only allocate to VN/India/Indonesia