U.S. Won Looking at Just the Deal, Says Associate Professor Balding

The video discusses the narrowing US-China trade deficit and the rising Chinese trade surplus with other countries, particularly in Asia and Europe. It explores the impact of this shift on global trade dynamics and political strategies. The video also examines the potential effects of import substitution, where China may displace goods from other countries to purchase more US goods, causing tensions. Finally, it analyzes the US-China trade deal, highlighting the concessions made by both sides and the unresolved issues left for future negotiations.

What was the trend in the US-China trade deficit in 2019, and what is expected for 2020?

• It remained stable in 2019 and is expected to remain stable in 2020.

• It narrowed in 2019 and is expected to continue narrowing in 2020.

• It widened in 2019 and is expected to widen further in 2020.

• It narrowed in 2019 but is expected to widen in 2020.

Which regions are primarily contributing to China's increasing trade surplus?

• North America and South America

• Africa and the Middle East

• Australia and Oceania

• Asia and Europe

What could be a consequence if China shifts its imports to favor US goods?

• Improved relations with European countries

• Decreased trade deficit with the US

• Displacement of goods from countries like Brazil and Europe

• Increased trade surplus for Brazil

What was one of the main outcomes of the trade deal between the US and China?

• China agreed to reduce its trade surplus with Europe.

• The US rolled back tariffs slightly, but many issues remain unresolved.

• China agreed to stop importing US goods.

• The US agreed to increase tariffs significantly.

Which phase of negotiations is expected to address broader market access issues?

• Phase one

• Phase two

• Phase three

• Final phase