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Money Talks from The Economist

Money talks: Tricky trading

Money Talks from The Economist

The Economist

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

4.41.2K Ratings

🗓️ 15 August 2017

⏱️ 15 minutes

🧾️ Download transcript

Summary

As NAFTA trade talks begin, we examine whether a deal can be made and discuss the investigation President Trump has ordered into China's trading practices. Artificial intelligence often gets a bad rap but could it create as many jobs as it takes? Plus, how fidget spinners have transformed the toy industry.

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Transcript

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0:00.0

Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey.

0:11.0

So no excuses not to visit your in-laws this Christmas.

0:16.5

Trains now on Uber. T's and C's apply check the Uber app. Hello I'm Simon Long, the finance editor at The Economist.

0:30.0

This week on Money Talks, might artificial intelligence make as many jobs as it takes.

0:37.0

Technology always cuts both ways, and I wouldn't exclude that in the long run AI will reduce

0:41.2

a number of jobs, but at this point in time AI actually creates a lot of jobs.

0:47.0

And how fidget spinners have transformed the toy industry.

0:50.0

The exciting thing for fidgeters is that people reckon that this has created a whole new market for fidgeting

0:56.0

So although spinners might be the last big thing we've got a new generation of fidget toys

1:02.0

But before we turn to toys, we're going to talk about trade.

1:06.0

This week there have been a number of important developments.

1:09.0

NAFTA, trade talks begin on Wednesday between Canada, the US and Mexico.

1:14.0

And on Monday, President Donald Trump signed a memorandum, prompting an investigation into Chinese

1:18.8

trade practices.

1:20.5

The theft of intellectual property by foreign countries costs our nation millions of jobs and billions and billions of dollars each and every year.

1:30.0

For too long this wealth has been drained from our country while Washington has done nothing.

1:36.0

They have never done anything about it.

1:39.0

But Washington will turn a blind eye no longer.

1:44.6

Today I'm directing the United States Trade Representative

1:48.9

to examine China's policies, practices, and actions

1:52.2

with regard to the forced transfers of American technology

1:57.3

and the theft of American intellectual property.

...

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