Something that people should watch. This economist is brilliant and has very clear thoughts. He destroys myths.
Trade for example is independent of economic growth, despite what people want to believe. While the US has a trade deficit with China, China does have a trade deficit with Korea, Japan and Germany, but still grows faster than any of these. Japan has a trade deficit with the US but its economic growth remains very slow.
If the US taxes iPhones, China is in fact the least affected by it. China only gets $8 for each iPhone. Half goes to Taiwan, Korea and Japan, at least $400 goes to the Apple company. If China wants to move away from these suicide causing jobs, and put these jobs in the US, go ahead.
Trade for example is independent of economic growth, despite what people want to believe. While the US has a trade deficit with China, China does have a trade deficit with Korea, Japan and Germany, but still grows faster than any of these. Japan has a trade deficit with the US but its economic growth remains very slow.
If the US taxes iPhones, China is in fact the least affected by it. China only gets $8 for each iPhone. Half goes to Taiwan, Korea and Japan, at least $400 goes to the Apple company. If China wants to move away from these suicide causing jobs, and put these jobs in the US, go ahead.