tv U.S.- China Relations Summit Part 3 CSPAN April 23, 2019 3:04pm-4:04pm EDT
been much more successful is often able to capture duplicate that is a test document as a. investment. science -based is much more mixed. i would say the problem is free flow of information is the problem in china and it inhibits your book on tunability for these areas. what about state support in a big way about enterprises. we have a problem globally. innovative companies in a global sense have become so powerful that it's impossible for small private actors to enter.
various entries of cost structures. globally it's a debate about the roles of the state and getting to certain kinds of activities and this is the issue that china is facing. china supports the enterprises. if i don't, how can we get into those areas. the answer to that is partly that you pour a lot of money into it, you will feel a lot, it will be extremely costly. but if you pour a lot you might succeed. economists today are still debating whether south korea car industry is in the long-term valuable. extraordinarily expensive and we still don't know the answer to that. the issue about state driven varies by sector, private line, heavy contentions or robust
conclusion. >> let's turn to you all in the audience to ask your questions and if you can come forward and tell us your name and give us a concise question. >> thank you all for coming, i'm from john hopkins university. thank you for shedding some insights on u.s. china and the tribulation. i want to point to something that investor craig allen mentioned briefly. looking to secure the trade groups towards arctic. how does this play toward u.s. interest and better opportunities for cooperation and how do you see this to what extent conflicts with u.s. interest.
>> hi my name is michael i'm a junior. my question relates to the current deficit of china. china's current count has surplus has dropped to 4% of gdp and many have predicted that it will experience a current count deficit for the first time and pastor decades. so china might have to respond to any reality of facing net capital inflows from foreign countries. the question, what are the implications of the shift for china's efforts in opening up its financial markets. >> thank you so much for coming to speak to us. i came in the university of virginia. i was wondering if you could talk about any incentives that china would have for opening up its markets. these expressed pretty explicitly that they don't have any intention of removing these
pressures and areas and industries where they have critical national interest such as technology, and they don't seem interested in having a free market despite your expressions of how it would be in their interest in terms of innovation. if you could talk about if there are any advantages that they can proceed or is it just one we can proceed to them. >> these are big questions. great questions. thank you. on china's expansion, i think that this is new. we are not used to this and so we need to watch it very carefully. i think belton wrote, there are several ways to look at this. in my view, the infrastructure is needed so it's important that anybody could use infrastructure. that is a public good.
we are worried that belton road is followed by the military the military in djibouti is a case in point in the implications of that. i think we need to watch that very carefully. >> let's go to the second question, very rapidly because we only have five minutes. the era in which china has seen is a major trade surplus country. it's trade is going to be more like this. from china perspective, the folks have to be to make itself more attractive for investment to open up the markets. you will see that happening because it wants to make sure the money flows both ways and not just this way or that way. i think that's a good thing. on the second point, about
opening up, china systems is a should in my diagram, their restrictive in terms of letting in foreign investments in areas. this is a big issue for america. it's a less of an issue for manufacturing. why is it in china's interest ? it is very, very low. they're very important service. in one way we bring in more foreign partners. he let the competition and ideas flow. and ideas open up the service sector in the society. i think you will see in this negotiation the several concrete steps to open up the service sector. >> clearly have but we want to see a lot more.
>> i would like to follow up on the previous foreign policy panel. it's a good way to recalibrate the relationship. can you elaborate on how and where that might be possible and where this economic interest may align since our congress is now related legislation. >> i have a question for president adam, this is related to 2025, there are two problems about those policy. one is the force of technology transfer and the other is the subsidies. the force technology transfer has been partially sold that u.s. china negotiation. but china recently reacted very strongly and aggressively when
the estimated change regarding the subsidies. how the u.s. can make progress on the industrial subsidy issues. >> was very interested in your point about how the finance state and china doesn't help most of the lot in the u.s. dollars a global currency. >> on about road, i think the number one problem is lack of
transparency. i think that is closely correlated with a high degree of corruption. world bank standards and have clean competitions we do not see that. in fact most of the construction is a type of the subsidy for the state owned enterprises. if that is the case then foreigners for participation. >> do you want to talk about china 2025? >> i can do that. on subsidies, very quickly, china has an obligation to report subsidies. china did not meet the obligation. they recently improved because of the dispute. but the subsidies must be transparent that it is an
obligation. that is a bare minimum that we can ask for. the chinese people deserve to know where their money is going. >> i'm going to throw two controversial points. this question of technology in chinese policy. in accusations that china is behaving unfairly on technological knowledge. if you google wto rules and you look up technology transfer and you asked what is a global position in terms of transfer technology from which countries that statement says developed countries are obligated to provide every incentive to transfer technology to developing countries. okay? that is a very strange thing. now we choose china as being too successful.
it's a caveat in this is a debate. if china is a developing country or not. if you look at china very closely it is not developing or it is developing. it's nothing between makes it very complicated. on becoming a global currency, and mentioned it very quickly. it is not possible. the question, why is it the r&b cannot be a currency and everyone talked about it in the dollar is a global currency. the key issue the dollar global currency is because it's easily available abroad. because america generates huge deficits and patient dollars. everybody has dollars. secondly, for generations america gave it away as grants.
look at china, it does not generate trade deficit, it generates surplus. they cannot give away the r&d it gives away thousands. china does not give grants, gives loans and you can be repaid. you cannot dip the r&b out there in the public. rp cannot be a global currency because it is not going to be available in a significant amount. >> thank you so much everybody for attending. i really appreciate it in my two panelist are absolutely fabulous and i learn from them every time. i appreciate that and thank you so much global china connection. you are an awesome group. [applause] >> tonight on c-span2 on both tv and part-time with the discussion on the american dream at 8:00 p.m. eastern will hear from timothy carney author of alienated america. then we will hear from ray nico allen, it was all a dream.
in the american spirit. julie albright, author of left to their own devices, and then our towns. booktv is primetime all week long on c-span2. today at 7:00 p.m. eastern on c-span life coverage from george washington's home mount vernon talking about c-span's new book, the president, noted historians rank the best and worst. and saturday at 230 eastern booktv has life coverage from the museum with historians talking about the president, noted historians ranked america's best and worst chief executives. today at 7:00 p.m. eastern from mount vernon and saturday 2:30 p.m. eastern on c-span2 from the museum.
>> congress is out for a two week break with house and senate returning on monday april 29. when they returned the houseplants to work on climate change legislation in the senate will continue the confirmation process for judicial and executive branch nominees. when the house is in session you can sea life coverage on her companion at work c-span and watch a senate live on c-span2. >> before we move on the ten topics in which you really need to know, here we go, write them down. foundations, federalism, public opinion, participation, political parties, interest groups, campaigns and elections, congress, presidents, and corpse. those of the big ten, the entire test covers a ten topics. >> are you a student preparing for the advanced placement of
the united states government and politics exam? don't miss your chance to be part of "washington journal" cram for the exam program on saturday may 49:00 a.m. eastern for a live discussion with high school government teachers. >> are question is significant. >> logrolling is a word of bill trading. if you had this writer in this court project, and if you had that you will get more supportive books. >> watch "washington journal" cram for the exam on saturday the fourth on 9:00 a.m. eastern on c-span. >> the kaiser family foundation yesterday hosted discussion on the t