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Economic Update with Richard D. Wolff

U.S. Policy toward China: A Failing Effort to Contain Historic Change

Economic Update with Richard D. Wolff

Democracy at Work

Coops, Economics, Economy, Workercooperative, Capitalism, Politics, News, Government

4.81.9K Ratings

🗓️ 25 February 2025

⏱️ 31 minutes

🧾️ Download transcript

Summary

In this week’s episode of Economic Update, Professor Wolff discusses unionizing Whole Foods workers VS. Amazon and Trump and the contradictions, dangers, and global retaliation of the new administration's tariff program. The show's second half features an interview with political scientist Dr. Wilmer J. Leon III on the China-U.S. competition: its costs, the stakes, and why the U.S. is losing.

 

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Transcript

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0:00.0

Welcome, friends to another edition of Economic Update, a weekly program devoted to the economic

0:26.8

dimensions of our lives and those of our children.

0:30.7

I'm your host, Richard Wolfe.

0:33.6

Before jumping in today's very interesting program with my guest, Wilmer Leon, whom I'll introduce in the second half.

0:41.7

I want to remind you, Charlie Fabian is here.

0:46.1

Charlie.info-438 at gmail.com.

0:52.1

And again about my new book, Understanding Capitalism, available at Democracy

1:00.0

at Work.Info, along with all our other books. But the understanding capitalism is a way

1:07.3

of getting more depth in the stories that I develop and present to you on this

1:13.7

program. It's kind of a companion volume. I think you'll find it useful and interesting.

1:21.5

The topics we're going to discuss this morning in the first, are two topics. One short, one long. The short one

1:33.3

is about a strike in Philadelphia. A union election before a strike, but a strike is coming and you'll see why. And the second topic is

1:51.5

tariffs. Because President Trump insists on using tariffs more, more often on more adversaries.

2:02.6

We used to call them allies, but when you hit him with a tariff, they become an adversary,

2:08.3

and Mr. Trump is doing a great deal of that as fast as he can, days into his second term. So let's get to it. The Whole Foods chain that many of you know

2:24.0

about has of course stores in many parts of the United States including Philadelphia. At

2:33.4

one of the Whole Food stores in Philadelphia,

2:36.4

the workers petitioned for and signed the cards needed to arrange for an

2:44.4

election supervised by the National Labor Relations Board, in which all the eligible workers at that store

2:55.6

could vote yes, they do want a union or no, they do not.

3:00.6

This is the way many unions in many workplaces come into existence. This was established almost a century ago during

3:13.1

the 1930s. And the workers in this election have this election and 130s and 130 voted in favor of unionization, 100 against. So there was a very clear

...

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