Former USTR Froman: ‘Phase 1’ Is Largely a Purchase Deal

The transcript discusses the complexities of the US-China trade relationship, focusing on the phase one deal and its implications. It highlights the challenges in negotiations, the potential for decoupling, and the impact of industrial policies. The discussion extends to multilateral trade agreements like TPP and RCEP, and the difficulties faced by financial services in accessing the Chinese market. MasterCard's efforts in promoting inclusive growth are also covered, along with the broader implications of the US-China relationship on the global economy.

What is the primary focus of the phase one deal between the US and China?

• Environmental policies

• Military cooperation

• Cultural exchange

• Purchase agreements

What is a significant challenge in maintaining a healthy trade relationship between the US and China?

• Cultural differences

• Industrial policy differences

• Geographical distance

• Language barriers

What was the impact of the US withdrawal from the Trans-Pacific Partnership (TPP)?

• It led to the dissolution of the TPP

• The remaining countries continued with the agreement

• It had no impact on global trade

• It strengthened US trade relations with China

What is a major barrier for foreign companies trying to enter the Chinese market?

• High import tariffs

• Strict environmental regulations

• Saturated market with local players

• Lack of demand

What is MasterCard's approach to promoting inclusive growth?

• Focusing on large corporations

• Reducing transaction fees

• Offering free financial services

• Bringing individuals into the financial system

What is a key concern regarding the long-term US-China relationship?

• Self-destructive trade wars

• Cultural exchange programs

• Environmental cooperation

• Joint military exercises

How does MasterCard aim to support small and micro businesses?

• By reducing taxes

• By offering free legal advice

• By offering access to credit and financial services

• By providing free marketing services