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Money Talks from The Economist

Money talks: Battle with Beijing

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 13 March 2018

⏱️ 18 minutes

🧾️ Download transcript

Summary

Simon Rabinovitch, our Asia economics editor, discusses the likely impact of American trade tariffs and Mr Trump’s intervention in the Qualcomm-Broadcom deal on China.  And why is America’s health-care system so expensive? Also, can the "petro" save Venezuela’s ailing economy? Helen Joyce hosts

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Transcript

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0:00.0

Hello, I'm Helen Joyce, the finance editor of the Economist.

0:07.0

Welcome to Money Talks.

0:09.0

Coming up on the programme, why is America's care system so expensive?

0:14.0

It's a bit of a detective act working out where all of this

0:18.0

extra money goes because American health outcomes are not much better than anywhere else.

0:23.2

And could a new cryptocurrency help Venezuela's ailing economy?

0:26.7

It doesn't seem that this cryptocurrency is necessarily real though.

0:30.5

It's been sort of roundly mocked in the in the press and it doesn't necessarily

0:35.6

have a lot of the components you would want a crypto guarantee to have to be real.

0:47.4

First in an un move President Donald Trump has intervened to block a 142 billion dollar takeover of Qualcomm by

0:52.4

a rival chipmaker. Mr Trump is stopping the

0:55.8

deal because of national security concerns, namely that China might overtake the

1:00.0

US in critical 5G technology. This comes just days after Mr Trump used a national

1:05.6

security justification that dates from the Cold War to impose 25% tariffs on

1:10.5

steel imports to America and 10% on aluminium. Now that Mr Trump has set

1:15.2

those protectionist wheels in motion he is opening the way for exemptions.

1:19.2

But China, whose steel overproduction has long annoyed America is preparing its reaction.

1:24.0

Simon Rabinovich, our Asia economics editor, is on the line.

1:28.0

Simon China has two big trade moves in the last week to respond to.

1:32.0

What's it thinking?

1:33.0

Well, I think the message is being heard loud and clear in Beijing that China is increasingly

1:40.5

an economy non-grata in America. I mean the Broadcom

...

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