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Money Talks from The Economist

Money talks: Cracking steel — hammer or chisel?

Money Talks from The Economist

The Economist

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

4.41.2K Ratings

🗓️ 9 January 2018

⏱️ 20 minutes

🧾️ Download transcript

Summary

Could we be on the brink of President Trump’s first real trade war over Chinese steel? Also, why the great Indian middle class may not be as big as you think. And, is the gym business in good shape? Simon Long hosts.

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Transcript

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0:00.0

Picture this, static cars, idling engines, angry horns.

0:08.0

Now, picture you, zooming past it all, light and breezy.

0:15.0

Ah, the sweet feeling of whizzing past traffic.

0:20.0

Book your train journey via Avanti westcoast.co. UK.

0:25.0

avante west coast feel good travel. Hello, I'm Simon Long, the finance editor of The Economist.

0:37.0

Welcome to Money Talks. Coming up on our program this week, how to get tough on Chinese steel.

0:47.0

They could go in with a hammer or a chisel, or they could do nothing. They could say, look,

0:52.0

we've got this report that's found that you were doing wrong. Let's start a negotiation.

0:56.0

Otherwise we will hit you with a hammer.

0:58.0

Why the great Indian middle class may not be as big as you thought?

1:02.0

You have to be very skeptical when company chief

1:03.9

executives trundle through India and give interviews saying India is going to

1:08.0

be their next huge market. And have you resolved to go to the gym this year?

1:12.0

As a good-filled journalist I have of course given us a go and I can safely tell you it's murder.

1:20.0

But first, could we be on the brink of President Trump's first real trade war?

1:26.0

The catalyst could be steel imports.

1:29.0

Next Monday is the deadline for the Department of Commerce to declare whether steel imports are a threat to America's national

1:34.4

security. If it decides they are, America, the world's biggest steel importer, will have

1:39.7

to decide how to protect itself. The problem, however, is a fundamental one. The world simply

1:46.3

has too much steel-making capacity, above all in China. So what can be done?

1:52.3

Samaya Keynes is our economics correspondent and joins me now.

1:55.0

Hello Samia.

...

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