Episode 1774: Trade Wars Are Class Wars, With Matthew C. Klein
We know that Donald Trump has been accusing China of “ripping off” the United States for the last five years. He has characteristed China’s leaders as “grandmasters” and “currency manipulators” who “took advantage of our very weak leaders”, etc etc. His hostile rhetoric is likely to intensify over the coming months as he fights an election while blaming China for the coronavirus crisis. To what extent does Trump’s rhetoric about China ripping off the United States correspond with reality?
Today we speak to Matthew C Klein about the new book he has co-authored with Michael Pettis. The book is called Trade Wars are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace.
Michael and I hope that our book helps you make sense of what’s gone wrong in the world — and how we can fix it.
I know many of you have already ordered copies, for which I’m grateful, but if you haven’t yet, please consider doing so.
Thank you! https://t.co/MMtBZGsRk6
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— Matthew C. Klein (@M_C_Klein) May 19, 2020
The book is an attempt to explain what is really going on in the trading relationship between China and the US: how does it work? Who wins? Who loses? And is there a better balance to be found?
The thesis is that economic conflicts between countries are ultimately caused by class conflicts within them – not “geopolitics” or incompatible “national interests.”
Global prosperity isn’t a scarce resource we need to fight over.
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— Matthew C. Klein (@M_C_Klein) May 19, 2020
It also looks at the other export superpower, Germany, and why its determination to export its economic model has created problems elsewhere.
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