See CBS, I on the World. I'm John Bachelor with my colleague and friend Gordon Chang at

Gordon G Chang. Christine Lagarde, the president of the European Central Bank.

We have rules that are the WTO rules, said Ms. Lagarde, and if all countries could

respect the rules and resist tweaks and

turns and violations here and exceptions there and subsidies here

it would all be much better for the world economy."

End quote.

Gordon and I welcome Alan Tonsen, our guide on manufacturing both there and here.

Alan, this sounds surprisingly condescending.

WTO rules, to my knowledge, once China was in the WTO, they threw away the instructions

and have carried on ever since in their own best interests.

They're doing it again, we're told, by manufacturing enough

EVs to be to connect between the US and the Moon. So Christian Lagarde might be referring to those dumped EVs but

there's everything else in the range of manufacturing that China has been

dumping for years. Is there any other way to control China

other than chastising it as if it was a wayward six-year-old? Good evening to you

Alan. Hi you John and hi Gordon and I think you're absolutely right.

I think that ECB President Legard's prescriptions are completely unrealistic and they're

unrealistic for two main reasons.

One, it's not only the case that she's overlooking the fact that the structural differences between various world economies are so great

that they really undermine the basic assumption that's behind the world trade organization and that's

frankly behind most other international organizations too and the very idea

...