A Quote by Peter Navarro
The really big problem with China is that there are the unfair trade practices, like currency manipulation, illegal export subsidies and the theft of intellectual property, but then there's also things that the WTO doesn't cover that it should, which is the use of sweat shops and pollution havens.
Related Quotes
We've turned a blind eye to Chinese economic activity, the manipulation of the renminbi, the dumping, the unfair trade practices. We've turned a blind eye to intellectual property theft.
And as secretary of state, I fought hard for American businesses to get a fair shot around the world and to stop underhanded trading practices like currency manipulation and the theft of intellectual property.
The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years. China went into the World Trade Organization and agreed to play by certain rules. Instead, they are illegally subsidizing their exports, manipulating their currency, stealing all of our intellectual property, using sweatshops, using pollution havens. What happens is, our businesses and workers are playing that game with two hands tied behind their back.
Three year sof unconditional MFN have not lead to any subtantial improvement in human rights, trade and nuclear proliferation practice of the Chinese government. In addition to the trade barriers, China has marred our trade relationship wit prison labor or export and other unfair trade practices.
China's idea of fair trade is government subsidies of its textile and apparel exports to the United States, currency manipulation, and forgiveness of loans by its government banks.
Challenging unfairly subsidized products, fighting counterfeit goods and intellectual property theft and holding countries accountable for an unfair currency regime will help American companies remain competitive.
If money is the root of all evil, then China's manipulation of its currency, the yuan, is the tap root of everything wrong with the U.S.-China trade relationship.
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.
The United States will not tolerate the P.R.C.'s (People's Republic of China) violations of our sovereignty and intimidation of our people, just as we have not tolerated the P.R.C.'s unfair trade practices, theft of American jobs and other egregious behavior.
The policy goal is to persuade China to stop cheating. But here's what's interesting - Donald Trump intuitively understands what things should be. I did a study in 2008 where I estimated the impact of China's unfair trade practices on their competitive advantage - the so-called China Price. You know what it came out to be? Forty-three percent. Forty-three percent - very close to what his intuition said we needed in order to equalize things.
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.
Unfair trade practices should be regulated because they're unfair.
To ensure fair competition, there must be effective controls on currency manipulation, and monopoly pricing needs to be outlawed on such items as intellectual property, especially pharmaceuticals.
The structures of the WTO need to be reformed to increase participation. There must be a greater sense of shared ownership of the substance of the trade negotiation agenda. Decisions about issues to be negotiated, and in which sequence they should be taken, should rest with all WTO members, not only the most powerful.
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.
The problem remains that the market is grossly distorted by Canadian unfair trade practices.
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