Valuetainment - April 10, 2025


＂Biggest & Cruellest Hoax of All＂ – Richard Werner EXPOSES The REAL Cost Of China Trade Policy


Episode Stats

Length

12 minutes

Words per Minute

176.35387

Word Count

2,133

Sentence Count

17

Misogynist Sentences

2

Hate Speech Sentences

8


Summary


Transcript

00:00:00.000 let's say we're you know two vendors okay you have a software i have a software i have my
00:00:07.480 customers you have your customers okay and there's about a hundred people out there 195 to be exact
00:00:13.680 these are countries right 195 people that do business with both of us okay out of these 195
00:00:20.360 let's take the top 40 the ones that matter the most germany italy mexico canada the ones that
00:00:25.520 these are okay which one of those two if you had to lose one of them if one threatened you to say
00:00:32.700 to be with me you cannot do business with the other guy who do they need more
00:00:38.800 that's quite a complex setup meaning i'm us you're china okay who do they need more
00:00:46.600 who can they not afford to lose
00:00:49.980 there's a reason why i'm asking this question i think maybe you know where i'm going with this
00:00:57.960 who do you think they need more who are they more relied on do they rely more on the relationship
00:01:05.020 with us or do they rely more on the relationship with china i think it totally depends it totally
00:01:08.880 depends on the specifics of the uh of the of the type of we're talking about software of the type of
00:01:16.520 software um china has made great progress in creating its own software and still has a has a price
00:01:26.360 advantage um there used to be the attitude well it's just still it's just copying and it's similar
00:01:32.700 to the u.s but it's and it's cheaper okay but the u.s is really where the creative new ideas come
00:01:37.340 and so on and that's also being challenged in china because you've got new developments uh things
00:01:42.960 that are not even available in the u.s are available in china and they're trying all sorts you know of
00:01:48.600 things with the various apps and and combinations of services um so and and they still have the price
00:01:56.240 advantage although this is what you know a tariff policy could address um i think really though
00:02:04.500 um you know it's it's beyond just you know if you look at software because you're looking at the
00:02:09.980 sector where the u.s is doing best and so perhaps that's not really the main concern because you know
00:02:16.420 the u.s is doing okay with that one it's it's the level below which is still high value at it but
00:02:23.400 is lower um where there's still some manufacturing there's an there's an argument for maintaining
00:02:29.620 manufacturing in your country because manufacturing gives you um the basically the skill set required
00:02:39.860 in in having certain assemblies and and manufacturing and the people involved in that that's also what
00:02:46.520 creates new ideas about processes how to improve process how to offer new um new things um working
00:02:55.060 with different materials you know it's so important all the the new materials that are being worked on
00:02:59.960 if you don't even have the manufacturing you'll never get into the new materials china is making
00:03:03.860 massive progress in new materials you know um and and the u.s in some areas has lost the skill set
00:03:11.680 because it's been offshored there's no quite that there's not even by by a little bit by a lot
00:03:17.240 yeah you know ever since they allowed china to join the world trade organization we sent our
00:03:21.860 manufacturing today yeah even nancy pelosi talked about this in 96 right where she said
00:03:26.600 you know we charged two percent they charged 35 our two percent made us 170 000 jobs their 35 percent
00:03:36.780 made them 10 million jobs do you have that clip have you seen this clip this right right here i don't
00:03:41.620 know if you've seen this this is quite dramatic isn't it yeah but it's true yeah i think it's interesting
00:03:45.400 to note that the average u.s mfn tariff on chinese goods coming into the united states
00:03:50.660 is two percent whereas the average chinese mfn tariff on u.s goods going into china is 35 percent
00:03:59.280 is that reciprocal on exports china only allows certain industries into china of u.s uh industries
00:04:07.140 into china and therefore only two percent of u.s exports are allowed into china on the other hand
00:04:13.820 the u.s allows china to flood our markets with 30 a third of their exports and that'll probably go
00:04:20.320 over 40 percent and and it's limitless because we have not placed any restriction in terms of jobs
00:04:26.600 this is the biggest and cruelest hoax of all not only do we not have market access not only do they
00:04:33.700 have prohibitive tariffs not only are our exports not let uh let in very specifically but china benefits
00:04:41.380 with at least at least 10 million jobs from u.s china trade the president in his statement
00:04:48.760 requesting this special waiver said that it china trade supports 170 000 jobs in the united states
00:04:58.100 170 000 jobs this is back in the days when she was a nationalist today she's moral global so she's
00:05:03.900 made there she's changed teams because she's about the world she's no longer about yeah what it was
00:05:07.880 about our economy so the question okay going back to it who do they rely on more labor china used
00:05:16.640 to have the cheapest labor where used to be 20 cents to 50 cents an hour pre joining the world trade
00:05:22.540 organization at that time 2001 minimum wage in america was 515 so it was let's just say it's 25 cents
00:05:30.300 it was 20 times cheaper to do it there than to do it here now labor is not that big of a difference
00:05:36.460 china versus here matter of fact there's an article that came up about hafuzan in mexico
00:05:40.720 uh that china's building hafuzan in mexico with their bv whatever that car is that they're doing
00:05:45.400 the bvd bv bva something what's it called rob byd build your dreams build your dreams for 9600
00:05:52.120 they're building it in mexico because labor is now cheaper in mexico than it's in china
00:05:58.200 so they're kind of getting competition with labor that's going different places right i asked a question
00:06:04.740 about how the other 195 countries which one of us do they need more is because if you remember what
00:06:13.080 trump did to huawei where he told everyone in the states and he told everyone in china if you do
00:06:20.000 business with iran i'm putting sanctions you're done with us so iran wanted to do business with
00:06:26.180 huawei the cfo which was the daughter of the ceo was in canada doing a deal with iran if you remember
00:06:32.080 that he said we're done with huawei done deal was this the trump administration hits china's huawei
00:06:38.180 with a one-two punch this was in 2019 six years ago so trump's got the reputation to show that i'm
00:06:45.200 going to go hard with this what if trump calls all the partners that say hey guys here's what i need
00:06:53.700 you to do i need you to not do business with china for three months and if you do this i'll give you
00:06:59.860 zero tariffs for the next three months what if he puts that kind of pressure what if he because
00:07:06.680 he's capable of saying something like that he's now somebody that's going to be worried about it
00:07:10.680 what if he says something like that what if he says i will give you to save you money zero percent
00:07:16.460 tariffs for whatever 12 months six months but in return you have to tell me that you're not going
00:07:22.340 to do business with china for 90 days what if he does something like that well it could work for
00:07:26.740 some countries this would be attractive and if then they say okay this would disrupt the supply
00:07:33.580 chains this would disrupt the relationships because suddenly you know you have to find other sources you
00:07:39.600 have to find other partners once you've done that you have actually let other companies from other
00:07:45.560 countries substitute china and then it could stick to some extent it could stick so it could work
00:07:51.700 um this hasn't been tried um and it could work um but really i don't know i mean in in many ways
00:08:01.860 yes and and you know this very aggressive uh policy with huawei um at the time i i i was a bit surprised
00:08:10.600 how you know this this lady who was the cfo she was arrested and she was she was essentially yeah um kept
00:08:16.900 was it house arrest in canada or something like that for for a long time a year or more um that was
00:08:23.500 to me that didn't seem quite right because these are sort of soviet methods you know that was a bit
00:08:28.940 unnecessary um but you're right as a result he has his reputation of being very brutal when it comes to
00:08:35.180 china but is this really the right way of dealing with china in my experience is not and that's i think
00:08:40.860 that's actually the reason why china has responded this way because there is this baggage there's this
00:08:46.100 history of how president trump has dealt with china and sadly that brings out this you know the
00:08:52.780 politics where they say well we're not going to be pushed around by president trump in this way
00:08:57.720 we also want to be respected you have to understand i mean it's it's like on the human level everyone
00:09:02.820 wants to be respected and countries want to be respected russia has the same issue they want to be
00:09:08.660 respected as an equal when they talk to the u.s and now here president trump was the first who said yes
00:09:14.080 will talk to them as an equal and it works like magic although still a long road but to go but
00:09:19.840 it's clearly working um why isn't he trying this with china it would it would soften up china you know
00:09:26.660 it's particularly asia you see it's all about not losing face and being spoken to like that
00:09:34.100 forces the chinese leadership to respond strongly even though really perhaps they don't really want to
00:09:40.960 they sort of have to they can't lose face um you know within asia within you know all their partners
00:09:47.280 all the relationships they've built up um and so it's it's an unnecessary risk to the world economy to
00:09:54.620 have this very brutal trade tit-for-tat raising of tariffs when really he should have the same approach
00:10:02.240 as with president putin and say hey let's let's go and have dinner um i'll show you some good american
00:10:08.880 whiskey you'll show me the multi fairly high octane stuff you know and you start to and this would
00:10:15.920 work very well in china and let's come up you know he likes to make deals the chinese love to make deals
00:10:21.820 they're famous for it so why aren't we talking about proper deals it's because you know in the past
00:10:27.060 things already fairly early on turned sour and now it's all about not losing face and now we have to
00:10:32.880 be tough to each other and it's a pity because it's unnecessary china can be you know the relationship
00:10:40.340 with china can be moved so that it's beneficial for both also for the u.s nowadays more than ever the
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