A Quote by Glenn Hubbard
I don't expect the U.S. and China to get into a trade war simply because I think there are good people on both sides who realize that that's not in either economy's interest.
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The far more likely Trump scenario is this: Chinese leaders realize they no longer have a weak leader in the White House; China ceases its unfair trade practices. America's massive trade deficit with China comes peacefully and prosperously back into balance, and both the U.S. and Chinese economies benefit from trade.
I think it's very unlikely that we're going to see a trade war between the United States and Mexico because it's in nobody's interest to see a trade war.
People have put a lot of faith in the government's ability to get growth going in China. People have this, what I think, illusion that there are six people in China who really have their hand on every button. And what we're learning is, it's a very big economy and they're not that good at it.
Revolutionary war is an antitoxin that not only eliminates the enemy's poison but also purges us of our own filth. Every just, revolutionary war is endowed with tremendous power and can transform many things or clear the way for their transformation. The Sino-Japanese war will transform both China and Japan; provided China perseveres in the War of Resistance and in the united front, the old Japan will surely be transformed into a new Japan and the old China into a new China, and people and everything else in both China and Japan will be transformed during and after the war.
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.
During the 1999 debate over Permanent Normal Trade Relations with China President Bill Clinton said, 'In opening the economy of China, the agreement will create unprecedented opportunities for American farmers, workers and companies to compete successfully in China's market. WRONG: Our trade deficit with China has increased from $83 billion in 2001 to a record breaking $342 billion in 2014.
We know that trade, NAFTA, the free and open trade between Canada and the U.S. creates millions of good jobs on both sides of the border.
Well, we don't think for a moment that either the U.S. or Australia are out to damage the New Zealand economy, but if there were a sustained period in which they had a free-trade agreement and New Zealand didn't have that same arrangement with the States, that could be both trade- and investment-distorting.
The more we can have peaceful trade both with Russia, with China, and with others, you know, there's a self interest in this for everyone.
World War II was really unusual, because America was in the Great Depression before. So the war did help the US economy to get securely out of this decline. This time, the war [in Iraq] is bad for the economy in both the short and long run. We could have spent trillions in research or education instead. This would have led to future productivity increases.
China are running trade deficits with the rest of the world. If you look at the U.S. trade deficit, it's close to $800 billion trade in goods. Half of that is with China, so it's a big part of the problem. And the problem with China, as opposed to, say, Canada, is that China cheats.
We haven't had a recession for 25 years in Australia. It's partly because of our trade with China. China's been doing relatively well. So some of the tensions around a low-wage economy haven't quite happened here in the same way as they have in the United States.
In war, as it is waged now, with the enormous losses on both sides, both sides will lose. It is a form of mutual suicide.
Myself, I don't think you will ever get security in the Mideast until you have what on the surface appears to be fair to both sides. You have to have leaders committed to peace, on both sides. One side can't impose a solution.
The Israel Palestine thing, there are infinite sides to each side, but if we stick to the main sides, everybody's in the same boat and it's maddening to me for people not to understand what's in both their best interest.
I think both sides [China and United States] should work hard to build a new type of relationship between big powers. The two sides should cooperate with each other for a win-win result in order to benefit people from the two countries and the world.
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