Hormats: China Will Write Rules of Asian Trade

The video discusses the evolution of US merchandise trade, highlighting the gap created by the financial crisis and the shift in US trade policy away from multilateral agreements. It contrasts this with China's proactive trade strategy, including the RECEPT initiative, and its transition towards a service-based economy. The discussion also covers the implications of these changes for global economic trends and multinational corporations.

What are the implications of the United States not supporting WTO and being anti-NAFTA?

How is China's approach to trade changing in response to its economic conditions?

What factors are influencing the shift of manufacturing from China to other countries?

In what ways might the United States regain influence in trade agreements?

Discuss the potential impact of China's transition to a service-based economy on global trade.