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, NT 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, JP Morgan www.cfr.org
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Schiff is leaving out the second part of that house show. They threw away all of the made in China stuff and completely refurnished the house with stuff made in America and it was about the same price as the stuff made in China and was better quality.
smoot-hawley 2012 is how to address it!
Peter schiff makes it clear and simple, the way it should be, america is well done!
peter starts at 00:12:01
That Indian guy is totally bull shit
@lazymathstudent I agree! I know it is not going to happen.Unfortunately, I don’t agree w/ you that people will be living better because I believe our government is going to inflate the dollar like crazy trying to prevent the inevitable fall of the dollar. Eventually, yes, when the US deregulates the market and regains compettiveness, we will start manufacturing goods again and our economy will have tremendous growth. Only then will people be living better, but that is a ways down the road still
@jdonald05
, since the unemployment will be low.
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
I have an idea! How about we actually start manufacturing goods in America. That way we would NOT have to import as many goods from China AND could actually export goods to China and the rest of the world, rather than just taking, taking, taking from around the world and pretending like we are really contributing to the global economy. Hmmm… wait, wait… No, why would we want to actually balance out the trade deficit and stimulate economic growth in America???
All these people except Peter Schiff will within enough time be out of a job. Hooray! Like if you agree.
touche peter
Well, that’s what happens when you implement a 1 child government policy on people.
But by all means, don’t address that fact and causal effect there.
BOOOOOOOOOOOOOOOOOOOOOOOOOOOORING!!!!!
@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 =).
I love Peter but he was wrong. I mean, does he really think the German government is smaller than the US?
@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.
53:27-56:27 The three best minutes of the video.
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….
This Peter Schiff guy is smart and sensible.
not this time lol
Peter is well versed I hope he is the real deal if he is may he be protected the people need him!
Peter you need to moonlight as a comedian
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.
@Piitsi LOL , yes, genius Way too much logic and common sense for the lady @37:10 !
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.
Peter is hilarious. Some people in the crowd need to lighten up