Trade Deal Puts U.S. Corporations First, says Summers - Wall Street Week

The video discusses the focus on American corporations benefiting from outsourcing to China, highlighting the lack of benefits for American workers. It critiques the political focus on trade agreements that prioritize corporate interests over worker protection. The speaker emphasizes the need for investment in technology, education, and intellectual property to strengthen the American economy, criticizing the current administration's neglect of these priorities.

What benefits do American corporations gain from outsourcing to China?

• Reduced competition from Chinese companies

• Higher wages for American workers

• Increased tariffs on Chinese goods

• Better investment opportunities and intellectual property protection

Which issue affecting American workers is not addressed in the trade agreement?

• Chinese subsidies

• Increased tariffs

• Currency manipulation

• Environmental regulations

What is the potential risk of the trade agreement according to the transcript?

• Strengthening American manufacturing

• Sacrificing workers' interests for shareholder gains

• Increasing domestic production

• Reducing political capital investment

What does the transcript suggest as a priority for improving American competitiveness?

• Focusing on bilateral trade deficits

• Investing in technology and education

• Increasing imports from China

• Reducing university funding

According to the transcript, where are American workers' outcomes primarily determined?

• In Beijing

• In Washington

• In New York

• In Silicon Valley