A Quote by Peter Navarro
When China got into the WTO, that allowed it to sell into any other country within the WTO - not just the United States - at the lowest tariffs that country offered. And the other countries could sell into China at the lowest tariffs that China offered. The problem, right off the bat, was that China had much higher tariffs than everywhere else, so the U.S. and Europe in particular got the short end of that stick.
Related Quotes
What [Donald] has put up for question is this idea of tariffs. Initially, he said if China won't stop taking advantage of us and manipulating their currency, then I will put tariffs in place. That spooked everybody because if you charge China a fee and an extra tariff for anything they bring into the United States, what's going to happen is that companies carrying those goods are going to raise prices. It's going to be expensive for people. People got scared of that, but then he walked that [idea] back. I don't think anybody is expecting heavy tariffs on anything.
[China] don't follow the rules and, if they don't, we're going to institute tariffs. When they send something into our country - and, believe me, they're going to obey our rules so quickly, you have no idea. And we'll end up with a better relationship with China than we do now.
Donald Trump is not a protectionist. If he imposes tariffs on China or any other country that cheats, all he wants to do is defend America against unfair trade practices.
U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market.
China, the world's most populous country, 1.3, 1.4 billion people, will in the next decade or so have to begin looking for people outside of China.What does this mean? China will have to become a much more welcoming society. It means that China will have to attract immigrants from other countries in order to slow the aging of the population.
The challenge is whether China as a rising country, the United States as the superpower, can develop a cooperative relationship in this period before nationalism becomes so dominant in China as a substitute for communism, and a kind of self-righteous isolationism in this country that substitutes China for the Soviet Union.
Our goal there, in my view, is to work and lean strongly on China to put as much pressure. China is one of the few major countries in the world that has significant support for North Korea, and I think we got to do everything we can to put pressure on China. I worry very much about an isolated, paranoid country with atomic bombs.
China's productive system draws upon the other East Asian countries to a great extent. The volume of trade is much larger than the net amount being exported from China. China needs substantial reserves to finance all that.
You American people worry too much about the China economy. Every time you think China is a problem, we get better, but when you have a high expectation for China, China is always a problem.
We're already in a trade war with China. The problem is we've not been fighting back. Trump, through tariffs, wants to call a truce.
China is the big economic engine in Asia, so what happens is, as China growth expands, these countries in the periphery of China, whether it be Indonesia, Malaysia, Singapore, the Philippines, they end up growing with China because they become big exporters.
I am against portraying China as the demon of the global community. China has grasped more quickly than other countries what globalization means and what it demands. The country has learned how to use other people's innovations for itself. India, incidentally, is not far behind China in this respect. Both are not nations in the European sense, but rather cultural communities with enormous markets. The challenge of the future is to work out how to deal with that.
China's own recent history proves that when it opens itself, there is nothing its people cannot accomplish. A more open China will lead to a more prosperous and stable China. That's good for China, the United States and, indeed, the entire world.
I have no doubt that there will continue to be bumps, some serious crises indeed in our relationship with China.... Neither membership in the WTO nor normalized trade relations with the United States will magically impose the rule of law on China or institute deep-seeded respect for human rights. But it certainly has potential to advance those purposes.
Unlike Europe, China can't be intimidated. Europe backs down if the United States looks at it the wrong way. But China, they've been there for 3,000 years and are paying no attention to the barbarians and don't see any need to.
In the short term, it would not have made it possible to resume relations, because in the Chinese mind, the humiliation of China started with the annexation of Taiwan by Japan. If the United States had suddenly declared Taiwan as a separate state - for which we would have had no support among other nations - the consequences would have been giving up our relationship with China and committing ourselves to a long-term conflict with China.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist