Ep 5. Trading with China

Set against the background of escalating trade tensions between the United States and China, "Trading with China" explores the complex dynamics of the economic relationship between the two superpowers. Drawing on expert analysis and on-the-ground reporting, the episode examines the history of U.S.-China trade relations, the causes and consequences of the current trade war, and the future prospects for cooperation and competition between the world's two largest economies.

The episode begins by tracing the evolution of economic relations between the U.S. and China, from the normalization of diplomatic ties in 1979 to the present day. It highlights the massive increase in trade and investment between the two countries over the past four decades, as well as the growing tensions and disputes that have accompanied that growth. These include accusations of Chinese theft of U.S. intellectual property, concerns about China's human rights abuses, and disputes over currency manipulation and market access.

The episode then delves into the origins of the current trade war, which was initiated by the Trump administration in response to what it saw as China's unfair trade practices and lack of reciprocity in market access. The episode explores the various rounds of tariffs and counter-tariffs that the two countries have imposed on each other, as well as the impact of those tariffs on businesses, farmers, and consumers in both countries. It also assesses the effectiveness of the tariffs in achieving their intended goals, such as reducing U.S. trade deficits with China and forcing China to make structural reforms to its economy.

The episode goes beyond the economics of trade to examine the geopolitical and strategic dimensions of the U.S.-China relationship. It analyses the competition for technological leadership in areas such as 5G telecommunications and artificial intelligence, the role of China's Belt and Road Initiative in expanding its global influence, and the strategic implications of the U.S. military presence in the Indo-Pacific region.

Finally, the episode looks ahead to the future of U.S.-China relations, exploring the possibilities for cooperation and conflict in a post-pandemic world. It evaluates the prospects for a new trade deal between the two countries, the impact of the Biden administration's approach to China, and the role of other countries such as Europe and Japan in shaping the future of the global economy.

Overall, "Trading with China" offers a comprehensive and nuanced analysis of one of the most important and complex relationships in global affairs, providing critical insights into the economic, geopolitical, and strategic dynamics between the United States and China.