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Economist Podcasts

Going through a phase: US-China trade deal

Economist Podcasts

The Economist

News & Politics, News

4.35K Ratings

🗓️ 15 January 2020

⏱️ 21 minutes

🧾️ Download transcript

Summary

Negotiators will sign a “phase one” pact today—but the trickiest issues remain unresolved, and plenty of tariffs will stay in place. Will the deal repair trading relations? As more young people head online, “cyberbullying” is on the rise, too. But why are some kids bullying themselves on social media? And why quirky Las Vegas weddings are on the wane. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/radiooffer

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio.

0:07.0

I'm your host, Jason Palmer.

0:09.0

Every weekday, we provide a fresh perspective on the events shaping your world.

0:17.0

As kids head online in bigger numbers and at younger ages, bullying has taken on vicious and direct new forms.

0:25.3

But how to explain the growing phenomenon of young people who cyber bully themselves?

0:32.2

And everyone knows the best place for a quickie wedding, or a corky one, Las Vegas.

0:38.3

Yet the number of marriages there, with Elvis presiding or even at a drive-through, is on the decline.

0:44.3

We ask why weddings are waning. But first...

0:56.0

As soon as Donald Trump became president, the trade relationship between America and China began to deteriorate.

1:07.3

The world's two largest economies became embroiled in a bitter trade war.

1:12.0

Li Oh He, China's vice-premier and its chief negotiator, is in Washington to sign the initial stage of a trade agreement.

1:19.2

The dispute has resulted in tariffs, or the threat of tariffs, on hundreds of billions of dollars of goods.

1:25.9

It's shaken markets and threatened growth not only in China and America, but around the world.

1:31.3

Although the details of the pact haven't been made public, the broad shape of it seems clear.

1:36.3

And what's also clear is that there's still plenty of work to do to repair trade relations.

1:41.3

We're expecting a few things from this phase one deal.

1:45.9

Simea Keynes is our trade and globalization editor.

1:48.2

We're expecting the Chinese to sign up, to buy a lot of American stuff.

1:53.5

We're expecting commitments on intellectual property.

1:57.6

We're expecting something on currency, currency manipulation. And then we're expecting

2:03.9

a rather unusual chapter on enforcement, which will essentially set out how the US can put tariffs

2:10.9

on the Chinese if anything goes wrong in future. And at least a couple of those things have

...

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