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What the Hell Is Going On

WTH Can We Do to Prevent a Second China Shock? Professor David Autor Explains

What the Hell Is Going On

AEI Podcasts

News, Government, Politics, History

4.4633 Ratings

🗓️ 13 February 2025

⏱️ 59 minutes

🧾️ Download transcript

Summary

China’s entry into the World Trade Organization, normalizing trade relations with the PRC, was billed to the American public as a rising tide that lifts all boats. But decades later, many of the manufacturing workers who lost their jobs to cheaper Chinese goods have not recovered. And while the first “China shock” left millions of textile and low-skill manufacturing workers without a job, Chinese trade practices are now targeting sectors crucial to American prosperity and national security. How can the U.S. protect vital industries from unfair trade practices? And why is it so difficult to help those who lose their job to trade find new work?

David Autor is the Daniel and Gail Rubinfeld Professor in the MIT Department of Economics and co-director of the National Bureau of Economic Research Labor Studies Program and the MIT Shaping the Future of Work Initiative. Autor is also an elected Fellow of the Econometrics Society, the Society of Labor Economists, and the American Academy of Arts and Sciences, and a Faculty Research Associate of the National Bureau of Economic Research and the Abdul Latif Jameel Poverty Action Lab. In 2019, the Economist labeled Autor “The academic voice of the American worker.”

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Transcript

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0:00.0

This podcast is brought to you by the American Enterprise Institute.

0:03.0

If you like what you hear, please subscribe, rate, review, and share.

0:07.0

Thanks for listening. Here's our show.

0:08.7

What the hell is going on?

0:10.4

What's really going on?

0:12.0

We said, what the hell happened?

0:13.5

You don't have to know what the hell is on it.

0:15.6

They see what's going on.

0:16.7

I don't know what's going on.

0:18.2

What is going on?

0:19.6

We must find out what's going on. What is going on? We must find out what is going on.

0:28.6

Hi, I'm Danielle Pletgan.

0:30.4

And I'm Mark Tiesin.

0:31.4

Welcome to our podcast.

0:32.8

What the hell is going on?

0:35.0

Mark, what the hell's going on?

0:36.8

What the hell is going on is we, what the hell's going on? What the hell is going on is we're now

0:39.5

about a quarter century since Congress approved permanent normal trade relations for China,

0:43.9

which paved the way for China's entry to the WTO, and it resulted in a dramatic expansion

0:49.8

of trade and investment between the U.S. and the PRC. The hope at the time was that trade would

0:55.1

over time help us democratize China, create incentives for the Chinese Communist Party to open up

0:59.9

society. China would play by the rules-based international order. It would create wealth here

...

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