Chapter
The Intersection of US-China Trade and Democracy
52:06 - 59:14 (07:08)
The reasons why countries trade are similar to the reasons why individuals trade. As tension between US and China grows, the discussion about government investment in research and infrastructure is contaminated by people linking it with other government actions, making it difficult to separate the issues.
Clips
The podcast discusses the issues in the different democracy systems whether in the form of parliamentary democracy, US-style system or having a prime minister or an elected president, particularly during tough times.
52:06 - 55:43 (03:37)
Summary
The podcast discusses the issues in the different democracy systems whether in the form of parliamentary democracy, US-style system or having a prime minister or an elected president, particularly during tough times. There is a dilemma with spending on government investments, mainly in research and infrastructure, as government actions are always scrutinized and often do not receive support.
ChapterThe Intersection of US-China Trade and Democracy
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
Countries trade for similar reasons to individuals: to specialize and concentrate on what they do well.
55:43 - 57:04 (01:20)
Summary
Countries trade for similar reasons to individuals: to specialize and concentrate on what they do well. The ongoing US-China trade war is a concern because of the complexity of international trade.
ChapterThe Intersection of US-China Trade and Democracy
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
While the US-China trade relationship has benefited both countries as a whole, it has led to job displacement in certain industries such as the North Carolina furniture industry.
57:04 - 59:14 (02:10)
Summary
While the US-China trade relationship has benefited both countries as a whole, it has led to job displacement in certain industries such as the North Carolina furniture industry. The current trade war is fueled by a misconception that selling goods to China is always beneficial, but in reality, trade has significant effects on income distribution within countries.