The Duran Podcast US Policy Slowing Down China's Economy w/ Jeffrey Sachs (Live)
Aug 25, 2023
Renowned economist and professor Jeffrey Sachs joins Alexander Mercuris to discuss US policy towards China's economy, drawing parallels with past approaches against Japan and the Soviet Union. They explore strategies such as unilateral tariffs, market blockades, and tax cuts, along with China's response and formation of alliances. The impact of US policy on China's economy is examined, including China's efforts to seek alternative markets and economic cooperation with other countries. The podcast also touches on Biden's corruption, Germany's political will, and Poland's reckless ambitions.
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US Using Economic Containment Against China
- The United States is actively trying to derail China's economic growth using containment tactics borrowed from Cold War and 1980s Japan playbooks.
- These measures include tariffs, export controls, incentives to friend-shore, and restrictions on technology and investment.
Plaza Agreement Memory From Japan
- Jeffrey Sachs recounted his experience observing U.S. pressure on Japan in the 1980s, including the Plaza Agreement and voluntary export limits.
- He links that engineered slowdown to Japan's subsequent asset collapse and prolonged stagnation.
China Isn't Japan — Different Stakes
- Since about 2015 the U.S. has applied a replay of containment policies aimed at China but without Chinese agreement, using unilateral tariffs and tech restrictions.
- China differs from Japan because it is larger, more independent, and less susceptible to U.S. security leverage.