Who Will Likely Win and Lose the U.S.-China Trade War?

Economic Update with Richard D. Wolff

Democracy at Work

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

4.8 • 1.9K Ratings

🗓️ 27 May 2025

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on Economic Update, Professor Wolff delivers updates on Trump’s cuts to school mental health counselors, the mass strike in LA County, why China is better positioned for a trade war with the U.S., and how profit drives corporate decisions to relocate U.S. factories overseas, thereby making the US economy vulnerable to long, global supply lines.

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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
0:27.0	dimensions of our lives and those of our children.
0:31.1	I'm your host, Richard Wolfe.
0:34.9	First of all, I want to thank you for sending in the comments, suggestions that you've been doing.
0:41.0	They should go, as they have, to charlie.info-338 at gmail.com.
0:50.2	He will collect them, edit them, look at them, respond, send them to me.
0:54.9	We work over every single one looking for a program that we can adjust to.
1:01.4	And we want to do that and thank you for doing it.
1:06.2	Second, I want to remind you that we have prepared, that is we, the democracy at work that produces these
1:12.0	programs each week, we've also prepared the book Understanding Capitalism, in which I
1:18.6	tried to go into the depth and detail that many of you ask for to expand on, to elaborate
1:27.2	the arguments and the presentations in this program.
1:30.3	If that might interest you, think of the book Understanding Capitalism as a companion volume to this weekly program.
1:41.3	We're going to be talking about the Trump attack on the education department. We're going to be talking about the Trump attack on the education department.
1:47.0	We're going to be talking about the big strike in Los Angeles County, the United States
1:52.8	and China's trade war and where it's likely to go. The whole issue of long supply chains
2:00.2	and the idea of reshoring manufacturing back to the U.S.,
2:06.5	and if time allows us, an interesting comment about workers with less education relative to workers with more.
2:16.9	So let's jump right in. education relative to workers with more.
2:18.2	So let's jump right in.
2:22.8	Trump recently cut $1 billion, that's a lot of money, from the Department of Education
2:30.7	in its program of giving grants for school mental health programs.
	...

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