AXIOS (Courtenay Brown) - U.S. trade chief calls trying to change China's economy "crazy"
As Europe grapples with its own China shock , the U.S. has largely given up on trying to persuade Beijing to change the export-heavy economic model that's helping fuel it. - It's a sharp break from years of U.S. economic diplomacy — including most recently during the Biden administration . What they're saying: "We did that for 25 years with our best people, and everything got worse," U.S. Trade Representative Jamieson Greer told Axios in an interview this week, referring to efforts to persuade China to shift toward greater consumption. - "All these things where they say, 'Well, let's do more engagement. Let's talk more about savings and investment,'" Greer said. "That's crazy to me." - "If we continued to do what they were saying, we…
What warning has Michael Froman, the Obama-era U.S. Trade Representative, given regarding China's export boom?
Michael Froman has warned that the world's ability to absorb China's excess production is approaching a "breaking point" and that the export boom could eventually trigger the next global economic crisis.
Q&A ID 34cd4df8-dba5-4542-81e8-8e6877402fdd
What were the economic growth rates for the U.S., Canada, the U.K., and Germany in the year prior to the article's publication?
The U.S. grew by 2.1%, Canada grew by 1.7%, the U.K. grew by 1.3%, and Germany barely grew.
Q&A ID a718e038-8c58-40eb-b209-4df53b10467d
What has U.S. Trade Representative Jamieson Greer said regarding efforts to persuade China to shift its economic model toward greater consumption?
Jamieson Greer stated that the U.S. has spent 25 years attempting to persuade China to shift toward greater consumption with its best people, but "everything got worse." He described suggestions to increase engagement and talk more about savings and investment as "crazy."
Q&A ID a2e6d5c3-f322-4bf4-a980-746a39abfd0a