A Quote by Robert Lighthizer
Years of passivity and drift among U.S. policymakers have allowed the U.S. - China trade deficit to grow to the point where is widely recognized as a major threat to our economy.
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As the U.S. trade deficit, and the portion of that deficit attributed to China, continue to grow, our own economy is at risk of losing its reputation as a leader in world trade.
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.
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.
Cyber-enabled theft of trade secrets by state actors in China has emerged as a major threat to our economic and, thus, national security.
Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.
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.
Well obviously the economy is critical to everything we do and we need to get the economy back in shape, the deficit down, the debt paid off, so that the economy can grow again and grow properly.
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.
The second is that the role of China trade in Japanese economy, important as it is, has often been exaggerated, as proven by our experience of the past 6 years.
China is our largest trading partner in Asia. The normalization of our relations will create major opportunities for Norwegian businesses and for job creation. We also hope to resume negotiations on a free trade agreement with China.
As commerce secretary, I led the Clinton administration's effort to ensure China's entry into the World Trade Organization and the permanent normalization of trade between the U.S. and China - steps that produced a 76 percent increase in U.S. exports to China in just three years.
The federal budget deficit isn't the nation's major economic problem and deficit reduction shouldn't be our major goal.
Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.
Americas largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner.
Now we characterise Russian-Chinese relations as a strategic partnership, even a special strategic partnership. We have never had such a level of trust with China before. China is our major trade and economic partner among foreign states. We implement joint multi-billion projects. We cooperate not only within the UN Security Council, which is logical, as both China and Russia are permanent members of the UN Security Council, but also within such regional organisations as the Shanghai Cooperation Organisation, BRICS, etc.
The threat of China is not military. The threat of China is they can't be intimidated. Europe you can intimidate. When the US tries to get people to stop investing in Iran, European companies pull out, China disregards it. You look at history and understand why - they've been around for 4,000 years, they have contempt for the barbarians, they just don't give a damn.
Some people worry about our federal deficit, but I, I worry about our bravery deficit. Our economy, our society - we're just losing out because we're not raising our girls to be brave. The bravery deficit is why women are underrepresented in STEM, in C-suites, in boardrooms, in Congress, and pretty much everywhere you look.
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