Wilbur Ross: China’s Trade Practices Have Become 'More Protectionist'

The transcript discusses the complex trade relationship between the USA and China, highlighting issues such as forced technology transfers, cyber intrusions, and industrial subsidies. It emphasizes the need for China to adhere to global trade rules and the importance of enforcement in trade agreements. The discussion also covers the trade deficit and potential solutions, including selling more goods to China. The ultimate goal is to achieve a balanced and mature relationship between the two largest economic entities, benefiting both nations and the global economy.

What are some of the fundamental issues in the trade relationship with China mentioned in the video?

• Forced technology transfers and cyber intrusions

• Increased tariffs on European goods

• Reduction in global oil prices

• Expansion of China's military presence

Why does the speaker mention that America does not love imposing tariffs?

• They prefer to use them as a last resort

• They increase domestic production costs

• They lead to increased global competition

• They are ineffective in changing trade practices

What is the first 'bucket' of issues in the trade relationship with China?

• Cybersecurity concerns

• Trade deficit

• Protectionist practices

• Enforcement of trade agreements

What is considered the most difficult problem in the trade relationship with China?

• Trade deficit

• Enforcement of agreements

• Cyber intrusions

• Industrial subsidies

Why is enforcement a critical component of any trade agreement with China?

• Because of the complexity and magnitude of required changes

• To increase China's economic growth

• To reduce global oil prices

• To expand China's military presence

What responsibility comes with China's economic success according to the video?

• To expand its territory

• To reduce its population growth

• To act as a cooperative member of the global business community

• To increase military spending

What is the ultimate goal of the trade negotiations with China?

• To create a more balanced and mature economic relationship

• To isolate China from global markets

• To reduce China's economic growth

• To increase tariffs on Chinese goods