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

Harmful content

Misogyny

2

sentences flagged

Hate speech

8

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode of the podcast, I sit down with the CEO of a software company to discuss the current trade situation between the United States and China. We talk about the benefits of free trade and what China needs to do in order to keep up with demand from other countries.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
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 0.99
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 0.94
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 1.00
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 0.95
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 0.56
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 0.92
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 0.82
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 0.86
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 0.99
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 1.00
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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