US Risks ‘Forever’ Trade War With China, Roach Says

Stephen Roach, Senior Fellow at Yale Law School and former Morgan Stanley Asia chairman, discusses his concerns about US trade policy toward China and his latest assessment of the Chinese economy. He speaks with Yvonne Man, David Ingles and Stephen Engle on "Bloomberg: The China Show."
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[@unifieddynasty]

Hong Kong's wealth came from funnelling and facilitating trade between mainland China and the first world. With China's opening up, Hong Kong's decline in prominence was inevitable. But this does not mean that Hong Kong is going to cease to be important.

[@kimpeater1]

In this case, the question is more of a political one than economic. HK is accustomed to a meritocracy. However, it now exists within a nation-state where Loyalty To The Party is the most important factor.

[@unifieddynasty]

@@kimpeater1 Since you are acknowledging that Hong Kong's economic growth is a fait accompli, would you like to expound on exactly which countries in the world do not first and foremost prioritize loyalty to the country for its public servants?

[@kimpeater1]

@@unifieddynasty nice but invalid strawman attempt. Loyalty to the Party in HK applies to the formerly meritocratic business community not public servants.

[@kimpeater1]

@@unifieddynasty nice strawman attempt but invalid. Loyalty to the Party in this case is being imposed on the formerly meritocratic business community, separate from the public servants.

[@asnark7115]

@@unifieddynasty All of Western "public servants" work for a set of interests other than the nations thy nominally "serve". For instance, all of Washington DC in the United States anwers only to the City of London and Beijing. Also, you have "country" confused with "government".

[@minibobjhu2523]

Finally, a guest who owns common sense and knowledge…rare these days on Anglo-Saxon media when covering China

[@tooltalk]

He's a fairly well known Cee See Pee plant.

[@redneckscumbags4422]

@@tooltalk you're a Cee Eye Ey plant?

[@ibcyt]

@@tooltalk And you are well known NSA plant. 😂

[@VictoriaEvelyn]

US-West have friends/advisors who do not have their best interest some of Indians is One of biggest cunning jackals masquerading as allies, China is Still very clear about their intentions.

[@genelarson6849]

The anglo Saxon term tells where this moron is coming from

[@mysticalwind4632]

I only wished US politicians had some common sense like this man.

[@vincenttay2812]

The root causes of the US problem are the carrot head politicians 😅

[@vgstb]

Don't get your hopes up too high, you will be disappointed over and over and over again. All the US political landscape has to offer the voter is geriatric, dementing old sods that are deaf for the urgent needs of the American people.

[@nancylove8360]

US politicians are bought by Israel. What do you expect?

[@jackychen5578]

American politicians have common sense, but they are controlled by various interest groups and have to do things that go against common sense to get funds. This is the beauty of American democracy, so China does not adopt this stupid politics.

[@ssuwandi3240]

Well he's clueless about what China did in 2018. The red line was crossed. No need to be cower

[@thejeffinvade]

Green technology Overcapacity? We need all the capacity we can get to limit climate change 🎉🎉nice to hear that from an American

[@ericzhou-y4t]

The problem is tariffs will not USA manufacturers more competitive. USA has plenty of oil and has no motivation of clean energy. On the contrary, China has energy crisis and puts all efforts in pushing the limit or energy industry. China wishes to use technology to overcome China's greatest national security threat. Now they want nuclear fusion and mining He-3 on the Moon.

[@joey3291]

clear hypocrisy...

[@lee123-it4si]

Because US can't compete with China, so they just made up this lousy excuse that nobody with a primary school degree really believes...

[@tasreasfatemsa8266]

Still drive F150 to office work,alone.

[@jeffrucks4477]

Cancel green.

[@hpmoxie4660]

One of the few times Bloomberg allows somebody to tell truth

[@kennethli8]

Roach has been dead wrong about China and the US economy for the last 15 years year over year.

[@nerenahd]

So rare to see a rational person like this gentleman these days. It's a shame 50%+ of the US population won't listen.

[@titusp9488]

Try 90%

[@mariajiao4855]

Try 95%

[@vincenttay2812]

Never mind if they are rational or not. China going to decouple from the US forever

[@ssuwandi3240]

Most Elite schools Professors are indeed very biased these days. This one is truly a rare Gem esp in Yale and made it into this biased channel

[@tooltalk]

Only if Roach can start the other 50% of the real story between US-China trade.

[@CanTho2022]

“ALL politicians have NEVER taken an economic class!!” That is soooo true!! 😂

[@polysporin8332]

tarrifs are BS. BYD new car that can go 2000km on a single tank of gas, for $14k. that is what the US is missing out on. Everyone in the US is used to paying a high price on cars, with lower technology.

[@Meowmeow.age.6]

BYD cars are cheap Chinese junk. In Mexico they are already 50% off and no one wants them still.

[@西瓜不太圆]

Dude, it's too much.BYD is good, but it's not that good.Why didn't you say 20 thousand kilometers?

[@miaomiaotoo]

I watched the test drive video, the final number was 2409 km! That is crazy! I can fill it up & forget it about until 6 months later charge again 😂!

[@唐伯虎-g9d]

@@西瓜不太圆事实是2400多公里..BYD Seal 06 还有QIN Ｌ 你可以搜索一下

[@PhiloSurfer]

@@西瓜不太圆 It is true - they did the test drive. Just a correction - it is a hybrid - 2000 km on one charge and one tankful of gas. You can drive from NYC to Miami on that. I suggest you google for this instead of dismissing it outright.

[@amatuer2]

Roach is an excellent guest. Glad he came on the show . And his statement " that not many politicians have taken an economic course " is spot on!

[@jedi10101]

applies to both sides. politicians in democracies & politicians under the thumb of autocrats in communist states or dictatorships.

[@akakakakakak3084]

Yellon is an economics professor.😅

[@rhena229]

@@akakakakakak3084she’s employed by Biden; hence, can’t speak the truth anymore.

[@fongcheongyat1446]

​@@akakakakakak3084Even as an economic professor she has to act and talk stupid to keep her job.

[@TheBooban]

He doesn’t even know the difference between a trade deficit and a budget deficit.

[@peterroberts2952]

Simple, avoid the US as much as you can.

[@tooltalk]

good idea! China is going to miss out on the most lucrative auto markets, the US/EU, in the world!!

[@TeacherLisaHello]

Survey 6mths ago of europeans showed 24% willing to buy China EVs. last month 50% willing to buy chinese EVs. De-risk from nonsensical schizo USA policies. De-risk from US$. De-risk from USA war culture. The 80% global south is heading there with BRICS begging China and Russia to get alternate things in place for everyone’s sake. Everyone wants EV ChinA Made bcos technically everyone admits that they are the best. This is HARD to say for some people.

[@lordbendtner7021]

@tooltalk China has more drivers than US population. Try again.

[@tooltalk]

@@lordbendtner7021 : sure, China sell more units, but less value. The avg price of a new vehicle in China $20K vs. US $50K. Even if China sells twice more cars, the US market is still greater in value.

[@annonetwothree1177]

@@tooltalk Hahaha... Such arrogance and ignorance is hilarious. Period.

[@nellyjohnson7316]

Slapping tariffs on Chinese products will lead to higher inflation rates here in the US.

[@annan7728]

It is the punishments on American Businesses and the cause of inflation.

[@Cotswolds1913]

in the short-run sure, but also more economic growth, less need to issue debt due to a lower trade deficit, more wage growth etc, and then in the long-run don't even have the inflation anymore, with much more export opportunities because we establish supply chains with developing countries who actually allow us to sell to them in return and don't get free access to our R&D every year.

[@jedi10101]

opportunity for local companies & entrepreneurs to step-up & build!

[@jbranche8024]

Tariff or Tax. But direct me to where is the Tariff/Tax money go. I have Never heard a Tariff reduces our federal wage tax, builds roads, supports social security or reduces the National Debt. How can the government place a Tariff but Not have to detail where and what it will be used for.

[@Cotswolds1913]

@@jbranche8024 most federal programs are payed for from general revenue, you don't assign each and every tax to a specific spending outlay. Only ones we do that with is payroll taxes for social security, medicare & unemployment insurance.

[@williamlee2468]

The problem with the USA & Europe is that they don't know their basic Economic principles of Comparative advantage. China gets things done whereas other countries in the West have to debate everything before they do anything.

[@nonyabizness997]

No the western leaders don't have to detabe things and do them slowly if it's of enough priority to them!! Did you get any consultation or much debating before they decided to invade Iraq? To bail out the big banks with your tax payers money? To send weapons and monies to Ukraine and Israel? Wake up and admit you are just not the priority!!!

[@vgstb]

Yes, but at the same time, the US and the EU have had the opportunity to pillage their respective colonies for ages.

[@tooltalk]

@@vgstb Oh the CCP's national motto -- the century of humiliation is alive and well. LOLL

[@CanTho2022]

@@vgstb….that era is long gone. Amerikkka USED to be powerful….NOT ANYMORE

[@kimpeater1]

Just knowing about comparative advantage doesn't really matter... You can't just double your population overnight, which is at the core of China's comparative advantage. Only time will tell whether this current massive population focused around relatively tight age range could become a problem later on...

[@yuppyhoo]

Finally, an adult in the room. The US needs to: - invest in STEM education to grow its manufacturing industries so as to export more. - reduce overseas military bases to reduce the deficit

[@BabaYaga826]

Agreed. 💯

[@Cotswolds1913]

Overseas military bases + the troops stationed on them are about $150 billion a year, and that's if you got rid of the all the associated forces, and got rid of all of it, which would be monumentally retarded. So in reality you're talking about tens of billions, against the backdrop of a deficit that's nearly $2 trillion.

[@abc-mp5er]

Plus: stop smearing others and lying to the people all the time by the MSM and the politicians.

[@kevinxie5762]

No, the US should lower their expectations on salaries. People haved earned more than they should for a long time. No matter from which country, people can produce the same products at a much lower cost. You cannot keep this forever. Innovation is important but not that important.

[@Cotswolds1913]

@@kevinxie5762 You have the opposite way round. China should allow its currency to appreciate, let its people start importing more, stop subsidizing so much and let households take home a larger share of the pie, and thus the manufacturing sector shrink. We’ve subsidized your development for decades now, you guys like to say you’re a superpower now, so time to get up and walk on your own two feet like a big boy.

[@douginorlando6260]

After watching the financial system being used as a weapon against users, China has no choice but to create a safe international alternative … and they have chosen HK for this role because it already has international roots.

[@tooltalk]

You mean like China's weaponization of rare earth metal against Japan in 2010?

[@kimpeater1]

@@tooltalk Any nation with precious resources will guard them. That is natural and expected. However, the US weaponizing their SWFT network is something very different because it is a *voluntary* and *trust-based* network. No one has to join the American financial system, but most of the world does because the US guaranteed fairness and equality. This network benefits you as an American greatly. It makes your inflation lower than it should be. It makes oil cheaper for you than it should be. But once they weaponize it, then that trust is severely damaged. The Chinese have their competing financial network, and they're attracting more users because they don't pull rugs like the Americans do, at least not yet.

[@Kotak8]

All consumers in the USA and all other Western countries are paying high prices for the U.S. sanctions and high import tariffs.

[@umarjongi3590]

It's not forever, when china stop trading in dollar is gonna be over.

[@fatdoi003]

HK can be BRICS financial hub.. also the earmarked development of the southern great bay area will boost opportunities for HK

[@308_Negra_Arroyo_Lane]

All the banks that would be involved in BRICS are in the mainland, there's no need for HK.

[@demomano9915]

No. Population of HK will spread into the mainland. Hongkongers are already going over the border for shopping and food as it is cheaper and for better service. HK will not be the BRICS hub for anything too many running dogs living there.

[@navado75]

When our economy is built on consumption you will forever be at a deficit.

[@gcoffey223]

When your central bank is private and owns your currency, you will forever have a defecit

[@rifleman42051]

Trade Wars lead to Real Wars!!!!

[@TacticalMayo]

That's inevitable

[@annan7728]

It terminates capitalism.

[@Cotswolds1913]

China was already waging a trade war with us, we merely responded. And not responding, that is to say continuing to empower Beijing, also makes war more likely.

[@cheongseeksam3502]

​@@Cotswolds1913 how did you come to the understanding that China is waging an economic war on US? Inferiority complex?

[@520hong]

@@Cotswolds1913 What a retarded. Who started the trade war?

[@charlesyeeh]

Another great achievement of our government is: we have successfully forced a mutual trading partner to be our biggest enemy. I can clearly see that the Chinese is extremely unwilling to take that role, but we have kept pushing them and humiliating them to a point that they have no other choices.

[@johnwhoo6194]

I don't think the news anchors are happy that this guy is so blunt and honest about the truth, haha!

[@王紀清]

I am so glad that the truth being told in the USA’s media!

[@HanS662]

@0:45 the leaders call that “strategic ambiguity” which causes me to wheeze with laughter

[@eymeeraosaka2954]

Good analysis by Stephen Roach.....A man I respect...

[@albertcadgame8314]

he only told half truth, ie. the 1st part of China beating US in almost every industry sector - this is the truth. The 2nd part is a lie about China's economy.

[@dennislee4797]

How many lesson do you need before you know that politic and economy dont go hand in hand.

[@yiziliuxian]

I remember Roach once said he will never visit China/Hongkong again.

[@manofsan]

In related news, Bloomberg All-In On China

[@censorshipagainstthemiddle6198]

You’re not? What pathway todo you see for American prosperity compared to China?

[@manofsan]

@@censorshipagainstthemiddle6198 - Mike Bloomberg is all-in on China, and that's why his news channel parrots him. Falling growth, aging demographics, opaque system prone to capital misallocation - sort of like Bloomberg

[@prithbilimbu5314]

The good thing is people around the world are becoming aware of the truth.

[@jw999]

The reporters here are way out of their depth...

[@ssuwandi3240]

Businesses reporters who don't get economics101😊

[@mattburrito]

their cowards that cant tell the truth to the public

[@DorJinTan]

​@@mattburritoYes!

[@johnteets2921]

They're really thinking about their beloved inflatable boy scout.

[@pareshpaul001]

Trade deficit not just with China but Taiwan also...???

[@DC-qn4wz]

And the rest of the world.

[@Pause_café_Avec_Dr_Djon]

That’s usually what happens when one country’s top industry is financial services and the top export is “conflict equipment”… Unless you have a global war, you’ll never have a market big enough to balance your trade deficit

[@geraldkohar]

Taiwan is China, China is Taiwan. You are talking about trade deficit between US and China. Taiwan is not a country. Google it, There are only a mere less than 15 countries in the world that supports Taiwan as a country, most of those countries are tiny countries with population less than 500000. Taiwan is not even in UN, so it is not a country by any standard. Taiwan is just one of China's provinces.

[@Kukura001]

@@DC-qn4wz Yes, it's not sanctions. It's just isolationism. Uncle Sam has become a giant North Korea.

[@cairn369]

@@geraldkohar Don't get so triggered, he never said Taiwan is a country, besides, thats not even the point, he just points out that the U.S has trade deficit with his beloved ally and yet didn't impose heavy tariffs on them. Although I also think Taiwan belongs to China, in the real world, people will treat them differently, whether you like it or not, it's a fact. By the way, since you are so eager to asure Taiwan is China, shows how vulnerable what you try to prove is.

[@jianlinzou3100]

you have a trade deficit with your favorite restaurant. do you stop going to your favorite restaurant but instead choose a much more expensive restaurant with bad food? 😂

[@vgstb]

Given the pace that China is decoupling and derisking from the US (and the West as a whole) in every way possible (agriculture, industrial supply chain, petrodollar, international moneytary exchange systems, bonds&loans, etc...) the risk on a forever war with China is not a real possibility. China planned to have its global south network at cruising speed by 2030, but as things are going, the decoupling and derisking task will be realised by the mid of the decade.

[@moneypromusic4419]

Imagine trying to stop a country growing economy with almost two billion people in it, what a joke

[@SSYlist]

Stephen is as objective as it can be for an economist 💯 one of my favourite economist around

[@dztennessee9744]

This man is a genius

[@davidhuttner9431]

Now I am really confused. Are you telling me that the Silver Spoons and the opportunists that suck up to them aren't all geniuses?

[@charlesyeeh]

Let’s see: After 6 years of our trade war against China, has the US overall trade deficit (with the entire world) been reduced? Have we broug6ht lots of manufacturing jobs back home? If not, then I believe our goal is to weaken China, and not about making America better or stronger. Let’s see whether China’s overall trade surplus has been reduced after 6 years. If not, then our goal is basically failing.

[@JohnJones-k9d]

Who would want to invest in us manufacturing. Look at us car manufacturers( Excluding Tesla) or Boeing.

[@AYVYN]

Nothing lasts forever, and if it did then businessmen wouldn’t care about it.

[@karmicexperiment5034]

So true

[@cb250nighthawk3]

A forever trade war assumes that US and China remain the biggest economies. There won't be a forever trade war when India moves into the picture. And Brazil, Tanzania, Indonesia, Russia.

[@pleasantjourneys]

Forever is a nonsense word in this discussion

[@stephenphillips6245]

Extensive, trade, dispute?

[@ssuwandi3240]

His concern was Forever Deficit as no politicians addressed it. Only Trump!

[@stephenphillips6245]

@@ssuwandi3240 It is so funny that, in 1999, they were worried about no deficit because Clinton's budget was so efficient. So, I wouldn't say no president doesn't care; good thing Bush did tax breaks and 2 wars to ensure there was a debt...LoL

[@zhanghaoze]

Hello Professor Roach, still benefiting from your class when i was in School

[@GeorgeHa-k3p]

I can't wait to share this video link with my friends. I am conducting research on green business, focusing on power batteries and electric vehicles (EV). This video can help me understand more about how people view productivity and capacity. I agree that there is no such thing as overcapacity or excessive capacity. It is a strategy to use capacity locally and globally from a marketing and economic perspective (supply and demand).

[@smling11]

He is what the US I used to know, was taught, and admired. Hope he can still keep his job after the interview.

[@daoistwanderer2671]

HK will have a bright future. It’s the envy. HK = Singapore + Huge Hinterland (China) Why wouldn’t HK thrive when China is bent on accelerating its development and becoming the world’s No 1?

[@tasreasfatemsa8266]

US politicians are fine as long as it is not labeled made in China,made in any other countries by China companies are totally fine.

[@watb8689]

china already selling the Hybrid that can travel 2000km and selling for 14k. Much better than Tesla 500km range

[@12time12]

You’re talking about a test vehicle, it’s nowhere near production ready.

[@wision888]

​@@12time12selling car ，not test

[@lunlunqq]

@@12time12 No. it’s already available to the general market.

[@thechloromancer3310]

Chinese overcapacity in EV and green energy? Why, because they dominate the market in these industries? What about US ‘overcapacity’ in smart phones (Apple), printers (Hewlett-Packard-Packard), aviation (Boeing), AI chips Nvidia, etc? If the US will not allow China to dominate certain industries due to ‘overcapacity’, it should prepare itself for retaliation from China against US ‘overcapacity’... or, the US could actually learn how to implement same and sound industrial policies again, rather than resorting to politically convenient but counter-productive bans and tariffs.

[@tooltalk]

The US "overcapacity" is mostly farmed to other countries. Apple iPhones are still mostly made in China (though most high-value components are made all over the world outside China), as does HP's printer/cartridge business. There is actually shortage in AI chips/nVidia and long waiting list at TSMC that fabs them. This is all part of de-coupling that many seem to ignore here.

[@kdnofyudbn5918]

Look all we have to do is flip the script of the Chinese. For 30 years the Chinese forced American companies to partner with a A . Chinese Company, B. Manufacture in China, C. Export some of the Production. So America should tell the Chinese fine you can compete in America but now you will partner up with a US company. You MUST manufacture in America and Export the your products from the US factory aboard. Ta Da !!

[@JohnJones-k9d]

Yeah you’re a brain surgeon. China has a population of 1.5bn people, they don’t need the us market, over the last 30 years the us has been quite happy to sell millions of cars etc in China. Us business have been happy to see increased profits through chinas scale of manufacturing. The importance of the USA is on the wane, it’s just your utter arrogance that is in the way now.

[@matsforsberg6287]

1,5 billion people. Highly educated. No race hate. Lower cost of living. And intelligent leaders What do you think......?

[@wassdepp1]

Finally someone well education and intelligent speaking the truth

[@stephenyang2844]

Trade deficit is not necessarily bad, it only means one country is better at producing products than the other country. High tariffs only burdens US consumers more and worsen income inequality and increase inflation.

[@steveleong1389]

Roach qualifies brilliantly as President of US unlike the other 2 senior presidential candidates !!

[@chiefchangeofficer]

Intelligent people won't become the leaders of countries -- that's simply a rule and a fact

[@michaelgothenburg364]

No one talks about China's all trade wars with all countries where goods can be manufactured cheaper than in China. China is master at protecting their industries any way they can and other countries should do the same.

[@douginorlando6260]

China is setting up HK to be the international financial center alternative safe from being weaponized for political purposes. This includes the alternative to Swift and commodity exchanges

[@seanlander9321]

Welcome to what Australia has been subject to by the EU; a trade embargo that has been inflicted for 51 years.

[@charlesyeeh]

Nevertheless, there is one certain win for the US government - it has collected a huge amount of money from the tariffs, and 10% of which is paid by the Chinese exporters, and the rest 90% is paid unfortunately by our American consumers.

[@prithbilimbu5314]

5:48 they should first take care of their people like China does. Make competitive products, be helping hand, not dictatorship.

[@Truthstelling]

pretty fair commentary

[@valeriavernon1151]

I regret that I won't be able to see these develpments, I am too old (82) and the world has become ever more interesting from day to day.

[@luckynyaa2826]

Not risks but wants and provokes

[@davidlai399]

Hong Kong will have to reinvent itself, due to natural limits such as the lack of land and small population, especially in the context of the Greater Bay Area, as the Monaco of China. Hong Kong, due to its legacy high land price policy inherited from the Brits, has the most expensive property market in the world and it translates to extreme high cost of living and doing business. In this regard, the city has to focus its development around the goal of justifying that high cost of living. Unfortunately it will become somewhat of a domicile playground of the rich, and amenities and service industries will have to be built around them, which is not dissimilar to modern day London.

[@308_Negra_Arroyo_Lane]

Hong Kong can only do the things that Shanghai and Shenzhen can't, and that's not a lot of things anymore.

[@oka2046]

Wisdom from a seasoned economist and MS ex-chairman.

[@黄冠-s5k]

The number of pure electric passenger cars exported from China to the United States is 12400, and the proportion of both the quantity and total amount exported to the United States is less than 1%. Raising tariffs is just for the sake of votes

[@mikewang7955]

Forever? Can America survive this winter? hahaha!

[@luckarl]

All the arrogant old men should go. Let the younger generation shines.

[@williamlouie569]

We want increase our debt with no limit and pay our bills with worthless money!

[@jorgegomez524]

Those journalists lol “is trade deficits a bad thing?”

[@bjrnhjortshjandersen1286]

A sensible man but are there many sensible political leaders. With this world run by political misinformation, there is little chance to act sensibly.

[@k54dhKJFGiht]

Thank you! Like everything that we do, we STILL maintain strategic ambiguity! It doesn't work, does it?! How much longer must we be our own worst enemy?

[@isokabooks3758]

Trump said he collected hindreds of millions in tariffs. He seemed to think it was not the American importer-consumer that was paying. Go figure.

[@user-ox2mz8ds7g]

I've read that a country that has the world's reserve money has to run a trade deficit. So if China or some other country had the world's reserve currency, they to would have to run a trade deficit. Don't know if it's correct though.

[@missflorafactory]

Limitless money printing won't end well. Ataturk told the best years ago. All economic books need to write it in the foreword section. “Societies that want to live comfortably without, working, getting tired and producing; They are doomed to lose first of all their dignity, then their freedom, then their independence and their future ”. Mustafa Kemal Atatürk.

[@level1selamat155]

They tried genocide, protectionism, plandemic, grand scale slandering, SCS disputes, i missed out few items not worthy of mentioning

[@miloinindo]

The US actually has a trade surplus once you add in services. We couldn't sustain a trillion a year in trade deficits for years. This is patently absurd to think otherwise. While we have a good deficit, we have a service surplus.

[@allanchapman6250]

You’re just taxing your own people with these tariffs costing them. It’s not the Chinese companies that pay the tariffs.

[@tooltalk]

tariff on goods/services not yet available is taxing on own people?

[@allanchapman6250]

@@tooltalkyes its when your government puts tariffs on so they get that money you pay.

[@libertarianPinoy]

This isn't a trade war, it's a real war. It isn't about economics but security. If you look at it from a purely economic point of view, yes the tariffs don't make sense. But cheaper products while strengthening an enemy that seeks to undermine your society is a bad trade. They US Govt simply doesn't want to say it as it can be spun around and they be made unpopular because of it. I don't think Roach is stupid enough to not realize this. I question if he is acting in good faith.

[@censorshipagainstthemiddle6198]

They’ve already got us beat economically and militarily. I’m sure we disagree on military so we just have to wait til we lock horns and see.

[@bumbengtey8464]

Yesterday we were best friends, but suddenly we have now been designated as an enemy. What gives?😅

[@peetymcfly8871]

@@bumbengtey8464 who designated who first as an enemy? Who wanted trade wars to begin with? The kid got himself in deep doo doo , and i crying and trying to play the victim.

[@Mike-us1wr]

Trades are never pure fair and balanced. In the end, it’s national interests for trade in either deficit or surplus.

[@thepureheartofdark]

I agree that Bindenomics are nonsense.Leaving aside product quality, safety and questionable practices aside for a moment. China is exporting at a loss too, making it impossible to compete without losing at the same time. The trade war alone will accomplish nothing. Were are the other actions to actually improve the US economy? Not that China is doing any better.

[@Siyi-xk8yb]

How much China paid for him?

[@albertcadgame8314]

he only told half truth, ie. the 1st part of China beating US in almost every industry sector - this is the truth. The 2nd part is a lie about China's economy doing badly.

[@buravan1512]

He sounds like somebody who lived abroad for a while, the more you travel the more aware you become that US is no longer in control 😂

[@EdwardDePlaeII]

Look china is good she saves good Americans and people and the money of this world no one and I mean no one has the right to tell Chinese people what they can do except for china but if the United States of America fails to assist me then of course I would chose china over America because I pledged allegiance to the United States but the American people haven’t even cared they let me down so what am I suppose to do china I love you and I pray you can fix this issue with the gov and federal state and local cash assistance for disability people amen

[@RichieAnne]

He is eager to be the new Henry Kissinger.

[@TH-c1k2]

So no need to worry about China since they are in so much problems….

[@lujiang2390]

Chinese Exclusion Act 2.0

[@VWet]

Mr. Roach better honestly comment on the crisis US is facing ! Better fix the problems at home before you mind others' business !

[@BradPaisley56]

Every week I buy more bitcoin because i believe it would surge after the halving, but could Gold be the safest buys other than BTC & APPL in terms of growth with $150,000 to outperform the market this year?

[@Ultronize]

trade deficits are not bad, when, we, the rich are raking billions 😂😂😂

[@nonyabizness997]

To those who apologise for the lack of progress and improvement within the US by blaming it on the "inefficiency" of the democratic system: no it's not because of the slow democratic processes that there is a lack of development within the US (and UK for that matter), it's simply because of difference in priority by the policy makers! Did the US policy makers consulted with you, did they allow for much debating, before they decided to invade Iraq on a drummed up charge of nonexistent WMD? Or to bail out the Wall Street banks with your tax payers $? Or to print trillions of $ to send to Ukraine and Israel?? Wake up and just admit it - you're just not the priority!!!

[@edmundsim6251]

If my economics do not fail, when the US sent 300B in aid to Israel totalling 600B now, there is a also a trade disparity too, right? That more than the US-China trade disparity.

[@vangelis3379]

MAGA MAYBE NEEDS TO REBOOT THE WHOLE SYSTEM!

[@glass8289]

Is this bloomberg? What happened? suddenly I am seeing a real news!!

[@Keenoom]

They're happy because they were led to believe that the other country is the one paying the tariff.

[@ShamileII]

Great discussion!

[@kennethli8]

Roach has been dead wrong about China and the US economy for the last 15 years year over year.

[@julianchung9215]

The big question is who will evetually pay for the additional tariffs bu US?

[@TheKkpop1]

There's no risk if US stops what she is doing now.

[@billhammett174]

Afraid we're in a world of endless wars (trade & bloody) and endless (super-sized) deficits. As always, Steve Roach sees the trees as well as the forest...

[@Walawala459]

Fight to the last dollar!

[@BitKoinETF]

What is the US trade policy trying to do? It's all of the above 😂 It may sound tongue in cheek but fact is US is going all out to beat China down. I'm not optimistic about about how things will end😢

[@lfish57]

Tariffs are pay by us. We have to pay more for someone to make a political point. Everything is high cost as it is. Everybody happy to pay more?

[@skibowu]

Americans love taxes on imports. We need more inflations! Life too easy now!

[@phillipwong1497]

US has a huge trade deficit with many countries but at the same time US also has a huge digital service surplus with them,