TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade
Sep 23, 2026 14:31
· 18:40
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· Whisper Turbo
· 8 Munyori
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Kuratidza chete
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The Documentary,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
home of the best documentaries from the BBC World Service.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Hello and welcome to the documentary from the BBC World Service.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I'm Will Bain.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Today, as President Xi gets set this week to head to Washington
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
DC for talks with President Trump,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
we're going to chart the history of US -China economic
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
relations from opium bans to joining the World Trade Organization.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Yes, we will chart the sometimes rocky journey between what are
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
now the world's two largest economies and how what's gone before.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
perhaps informs what might go on this week.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
That's coming up on Business Daily,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
exploring how work and money impact people around the world.
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Speaker 3 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Nixon's departure for China.
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Speaker 3 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
South Lawn,
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Speaker 3 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
17 February 1972.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Nixon prepares to leave Washington for China for what he would call...
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
This was the week that changed the world.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
...as President Xi prepares to fly in the opposite direction for an expected meeting with President
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Trump in Washington this week.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
What's happened in the intervening period in the trade relationship between
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China and the United States?
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Speaker 5 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
They've really taken advantage of our country for a long period of time.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
We're faced with...
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
opportunities never seen before.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
We both understand that the capabilities and requirements of our two countries
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
complement each other.
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The American people are a great people.
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The Chinese people are a great people.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
We have great differences today.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
What brings us together is that we have
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
common interests which transcend those differences.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The modern trading relationship between the US and China starts around
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that moment in 1969.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And that's where most of our focus will be.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But it's not the complete story.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
So let's go back.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Way back.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
1784 back.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The Empress of China became the first ship to carry goods across
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the Pacific Ocean directly between the US and China.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It was just a year before that,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
trade between the two countries had been allowed under the Treaty of Paris.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Tea, silk and porcelain would be sent from China.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Going the other way were things like silver,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
sandalwood and furs.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The first really big trade dispute,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
well you would have heard of the rouse recently over the importation of the illegal drug fentanyl
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
into the United States.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Well, back then, the Chinese were upset about the amount of opium being sent from
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
foreign countries,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
primarily Britain,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
but the US had also got in on the act.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It led to the first treaty on trade between the countries in 1844.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And tariffs?
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Well,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
they're not a new issue either.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
At the time of the American Civil War,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the US government needed to raise money.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
How to do it?
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Yep, sorry President Trump,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
but the word tariffs was also a favourite of those politicians back then,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
with import taxes of 50 % in some cases.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
After the Second World War came the founding of the People's Republic of China and trade,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
well,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it almost ceased until 1969 and
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Nixon on that inaugural address.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
During this administration,
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
our lines of communication will be open.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
We seek an open world.
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Speaker 3 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
open to ideas,
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
open to the exchange of goods and people.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Well, joining us is Chad P.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Bowne.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
He's co -author of the book How to Win a Trade War and a senior fellow at
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the Peterson Institute think tank in Washington,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
D .C.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
He also served in two different Democrat White House administrations.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
At that stage,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China was really so underdeveloped
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that there was really very little technologically
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that...
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China could do,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
with the exception of really labor
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
-intensive manufacturing.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And during that era,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and so we're talking about,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, footwear and clothing and textile,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
sewing, things of that nature.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
In 1972,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Nixon arrived in China to meet with Chairman Mao and his premier Zhao
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Enlai.
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The peoples of our two countries have always been friendly
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
to each other.
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But owing to reasons known to all,
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
contacts between the two peoples were suspended
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
for over 20 years.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But what we have said in that communique is not nearly as important
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
as what we will do in the years ahead.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
We have been here a week.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
This was the week that changed the world.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Trade quickly increased between the countries,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
growing from $13 million in 1972 to $992
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
million by 1978.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And at that time,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it was the US who held most of the chips with a trade surplus.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
That soon changed,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
though.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Trade rocketed in the 1980s,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Ronald Reagan visiting China in 1984,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
first addressing Chinese community leaders of the Great Hall.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
When it does come,
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China will rapidly become a powerful and rich nation.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The population is industrious,
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
frugal,
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
intelligent and quick to learn.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Well,
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
today China's economy crackles with the dynamics of change.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And then staff at the Shanghai Foxborough Company.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Your pioneer efforts demonstrate that a promising
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
future
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China beckons for expanded cooperation between our people.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China had asked to be entered into the formal trading
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
system at the time,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the General Agreement on Tariffs and Trade,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I believe in 1986,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right?
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And so that was the formal process.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Anybody that wanted in,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, have to do a lot of preparations,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
talk about how you're going to change your economy,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
what you're going to do,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
how you're going to get rid of your own tariffs and other kinds of trade barriers for the rest of the
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
existing membership to allow you in.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And was on sort of a path.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
to be brought into the trading system.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And then in the late 1980s,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you had the Tiananmen Square incident,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right?
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And massacre and the human rights concerns that popped up,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
which undoubtedly slowed the
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
progress of China's entry into the Western
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
dominated system,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right? At this stage,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it was the United States,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Europe.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Japan, right?
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It was really,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
these Western allies holding the keys about whether or not China was going to be allowed to get
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
in. And Tiananmen Square was really a black eye and made it very difficult politically
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
to allow China into the system for a long period of time.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You're listening to Business Daily from the BBC World
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Series.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I'm Will Bain,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and today we're looking at the history of trade between the United States and China,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
ahead of the expected summit in Washington between Presidents Trump and Xi later
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
on this week.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Well,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
by the 1990s,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
trade between them was booming,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
helped by President Clinton signing a bill which normalized trade with China.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I guess I ought to point out that our work's not over when I sign
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the bill, for China still must complete its WTO accession negotiations.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and live up to the agreements it has negotiated with us and our partners before
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it can join.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But when it happens,
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China will open its markets to American products from wheat to cars
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
to consulting services.
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And our companies will be far more able to sell goods without moving factories or
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Speaker 4 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
investments there.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
In 1997,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Jiang Zemin gave this speech in the States to a group
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
of U .S.-China -based business groups.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
In front of developing our economic relations and
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
trade as well as expanding the scientific and
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the technological exchanges between China and the United States,
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
we're faced with opportunities.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
never seen before.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China's market is open to you all,
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
of course.
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Speaker 6 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
An open market is a competitive market.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Let's go back to Chad Bowne from the Peterson Institute and co -author of
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the book How to Win a Trade War.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You have broader trade liberalization happening certainly in the United States.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And then China just became,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
a bigger and bigger part of that in the late 1990s when the talks,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
got really serious with the Clinton administration.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And then finally it's allowed in in 2001.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And zooming right in there then as well,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the Clinton administration,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
what is the rationale to speed up that process with China particularly?
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Are they seeing a benefit,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I guess, on the home front from cheaper what?
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Electronics or is it they're trying to ride some kind of boom,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right? What is it?
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Yeah, I'm not sure.
9:00
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China formally into the rules -based trading system.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
By then,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you've got a lot of Western companies that are invested in
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China that are,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, got plants in China.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China's on a trajectory in and of itself of engaging in
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
a lot of market -oriented reforms.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And I think the general feeling was,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
well,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
if you can get China into the WTO,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
this is going to further those domestic reformers'
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
efforts.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You're handing them tools that's going to help their system become more
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
like ours and less like the traditional state capitalists
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
where you've got all kinds of price controls and a lot of government interference.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But even looking back in that era at
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
–
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Clinton's statements and speeches on this.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I don't think anybody was naive to think even in that era,
9:52
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, that China was somehow going to become like us
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
in any sense.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But there was this real question of,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
well, China.
10:00
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China seems to be opening up.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Is it better to have them doing this within our system,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, the system that we've designed,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
this thing called the World Trade Organization,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
or have it do so outside of the system and not abiding
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
by any rules that we might have access to?
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And with the backing of President Clinton and then George W.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Bush, China joined the World Trade Organization in 2001.
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
In accordance with the decision -making procedures.
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
under Article 9 and 12 of the World
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Trade Organization Agreement agreed in November 95
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
WT slash L slash
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
93 to adopt the draft decision on
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the accession of the People's Republic of China.
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The Minister's Ministerial
10:55
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Speaker 8 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Conference so agrees.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And in those next few years then,
11:04
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
were there obvious to your mind sectors,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
companies perhaps that come to mind who are winners and losers straight away?
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Initially,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it probably went as...
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
One would expect,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right? China continue on really dominating,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
what we would refer to now as low -end manufacturing,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
really labor -intensive manufacturing.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Where we see China dominating to this day,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, the type of stuff,
11:28
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
if you went into your local supermarket,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you went to a Walmart and you bought,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I don't know,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
some new tongs for your barbecue,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, or a new spatula for your kitchen,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that kind of stuff.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Are we talking about that kind of thing?
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Yeah.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I mean, you had – what was happening in China at this time is also you got tens
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
of millions of people moving from rural areas into the
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
city and looking for jobs,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and looking to be put to work in manufacturing
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and in assembly and without a whole lot of skills during that era.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And so it was a lot of that type of work.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But that being said,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it did start to obviously have an impact on communities
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
outside of China.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Right. In the United States and other countries around the world.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But also alongside that,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
presumably, it's good for U .S.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
consumers in that moment.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Right. Absolutely.
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
That's where it looks like this is a brilliant kind of political decision when stuff,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, everyday household objects are becoming cheaper very quickly,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
presumably.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Absolutely.
12:23
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
That,
12:25
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, it is,
12:26
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, economists have documented,
12:28
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, the significant.
12:30
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
sort of deflationary effects it has had on China's entry
12:34
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
into the global economy had on prices,
12:36
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, and moderating prices over that era.
12:38
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And at the same time,
12:40
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that is also the period,
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, where we're talking about Apple as the standard
12:46
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
bearer, if you like,
12:47
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
but American businesses hitting on this idea that moving lots
12:51
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
of their manufacturing to China is bluntly good business.
12:55
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Yeah, absolutely.
12:56
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It was,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, access to much lower cost labor.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And in terms of scale,
13:03
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right, the number of people that you could find,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that were willing to do,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, very,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
very difficult work at very low cost was
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
unparalleled,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, for anywhere in the world.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
The emphasis that the Chinese government put
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
on building out the infrastructure.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
to be able to support international trade.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And so what that means is if you want to build these factories,
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
then you've got to have the big port facilities to be able to
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
get it out to.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
other consumer markets all over the world.
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And China just did all of these things,
13:41
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right?
13:42
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
They really offered companies the full package of items
13:46
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
necessary to really lower their costs of manufacturing.
13:49
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And trying to convince the public that there's a lot of cheaper
13:53
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
goods and so you're better off because of that,
13:55
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
oftentimes it's not a political winner,
13:57
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
even though you're exactly right.
13:58
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Well, your town is changing before your eyes.
13:59
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Speaker 7 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Yeah, exactly.
14:00
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It is the kind of story of our times,
14:02
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
isn't it? So when do people start seeing that?
14:05
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Chad, when does the China shock start to be,
14:08
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I don't know,
14:09
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
being really realized?
14:10
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I think individual local communities were definitely seeing it during
14:15
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that era.
14:15
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But I think as a broader political phenomenon,
14:19
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know,
14:20
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
it didn't get aggregated up to you seeing,
14:24
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know,
14:25
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
politicians bundling together lots of.
14:28
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
communities all being adversely affected by this one big thing until probably
14:32
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the middle of the 2000s when you saw the rise of Donald Trump.
14:36
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
President Trump and Xi,
14:38
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
one minute best friends,
14:40
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the next best of enemies.
14:42
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Both standing firm,
14:43
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
but both willing to do a deal.
14:46
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Speaker 3 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
There are no winners in trade wars.
14:49
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Speaker 3 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Bullying and hegemony will lead to self -isolation.
14:54
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Speaker 5 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
They've really taken advantage of our country for a long period of time.
14:57
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Speaker 5 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
They've ripped us off.
14:58
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
He campaigned in 2016 against trade
15:02
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
in general.
15:03
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
So I don't think it's fair to say that President Trump likes trade with anyone.
15:07
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It's not just China.
15:08
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But he did put a focus on the trading relationship with China
15:12
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and certainly was the first American president to
15:16
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
do something consequentially different about it.
15:20
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But that being said.
15:22
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I don't think that even if President Trump hadn't
15:26
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
come along in 2016,
15:27
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that things between the United States and China were going to continue as is.
15:31
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I think even by the early 2010s,
15:34
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
certainly here in the United States,
15:36
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
there was recognition that the relationship with China needed
15:41
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
to change.
15:41
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And I think there's...
15:44
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You know, one piece of that was President Xi Jinping.
15:47
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You know, he comes around in 2013.
15:49
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
There's a with any Chinese leader,
15:51
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you're kind of watching and reading the tea leaves.
15:54
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Is he going to continue on with the reform efforts that had been continuing?
15:57
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And it really took a little bit of time.
16:00
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But I think by 2014,
16:01
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
2015, it was it was already pretty clear that China was going down a
16:05
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
different path with President Xi.
16:07
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I think on the U .S.
16:08
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
side, even by the second half of the Obama administration,
16:11
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
so preceding President Trump.
16:13
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You had the design of new trade agreements.
16:16
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
That had recognized that the WTO was proving ineffective to deal
16:20
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
with the China problem.
16:22
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But of course,
16:23
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the real difference with President Trump is he
16:27
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
comes into office and he has a special affinity
16:31
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
for these things called tariffs.
16:32
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And he started to use them and he is,
16:35
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
you know, use them to great effect,
16:37
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
especially with respect to China.
16:39
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
This week,
16:40
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
then your level of hope,
16:42
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Chad.
16:44
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
what actually can be achieved.
16:45
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I mean, is it good news,
16:47
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I suppose, at least that the two sides are at least meeting again,
16:50
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
the most senior people in the two sides?
16:53
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
It is absolutely good news that President Xi
16:57
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and President Trump are going to meet.
16:59
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
But that being said,
17:00
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
I think my expectations,
17:03
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
at least at the moment,
17:03
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
are relatively modest.
17:05
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
And that's partially because the United States right now has very
17:09
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
little leverage with respect to China.
17:11
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
China has such dominance over these
17:15
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
essential inputs that you need to run your economy,
17:18
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
right?
17:18
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Rare earths,
17:19
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
permanent magnets,
17:20
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
a lot of these other critical minerals.
17:22
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
and has shown the willingness to threaten to cut the United States off from them,
17:26
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
that the United States' hands are tied and can't really
17:30
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
ask for much from China in return.
17:34
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
No escalation,
17:35
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
hopefully, but also I think very little progress as well on some of the really
17:40
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Speaker 1 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
deeper underlying challenges between the two countries.
17:42
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Our thanks to Chad Bowne from the Peterson Institute in Washington,
17:47
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
D .C.
17:47
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
That's it for this episode of the documentary from Business Daily made by me,
17:51
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
Will Bain.
17:52
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
You can find more of our global business stories and discover how they affect workers,
17:55
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
entrepreneurs and companies around the world at BBC .com or by searching
17:59
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
for BBC Business Daily wherever you get your podcasts from.
18:02
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
We have got coverage.
18:04
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
all this week on that trip by President Xi to the
18:08
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
United States,
18:08
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
including hearing from businesses who are trying to navigate working
18:13
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
between the world's two largest economies and also hearing from our top correspondents in
18:17
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
both parts of the world in a live programme later on in the week,
18:19
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
digesting absolutely everything that goes on overnight,
18:23
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
all the press conferences,
18:25
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
all the lines that come out of the discussions between the two presidents and how they
18:29
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Speaker 2 (TheDocumentaryPodcast-20260921-FromMaoAndNixonToXiAndTrumpAHistoryOfChinaUSTrade)
affect all of us.
18:30
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around the world and how we live and work so do if you don't already subscribe to business daily
18:34
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wherever you get your podcasts
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