Also in this playlist...
This transcript is automatically generated
-- you hear all the time every one has complained that China has dummy in the US in the global economy.
Is that really what we should be upset about -- may actually be worried that China isn't strong enough.
What I mean by that.
Just released data shows China's economy is expanding at its lowest rate in three years that means China may not be able to prop up the world economy.
While the US and Europe stay sluggish Louise story from the New York Times joins us nice to see -- Louise thanks CEO.
Okay how serious is this because we've been pounding China down trump I hit some -- ahead all the time I chance he -- and we don't like the business about the uniform but tell me.
Should we be worried about China.
-- -- -- is the big rival but growth is slowing it slow actually for six consecutive quarters now.
And this is really two reasons behind it first of all -- After the US went into the recession and China started to hurt now did the damage was -- a little bit because the Chinese Government -- -- kind of money in a big stimulus.
And that's stimulus has now got -- -- -- now are sent us here in the US from the federal stimulus.
That ended and now -- you know now the US economy still struggles and so that it ended in China one.
Think that we have going on today it's pure and simple growing pains okay.
A lot of -- -- to China a lot of people were -- after the cheap labor but now as the economy has improved what's happened is that the -- not -- anymore and so a lot of companies are.
Moving their factories from China or setting up factories even places like in the west because the labor differential.
You know the price for labor there.
In -- ever since US is not such a big gap.
As it was in the past.
I guess about the stimulus ended up part is that when they start them -- promise to China ahead -- stimulus and that has now stopped.
Why I mean it is that -- and -- -- the process of -- -- -- as a whole point is not this is going to be a stop but then it's gonna actually rev up and keep things go right is that a sign that maybe stimulus is not an effective means to rev up the economy.
Well it's interesting if there's been a lot of concerns and tie it at the money list is simply.
Names and that is not -- agreements that you know I was supposed to -- -- -- that -- your right that would be.
Lasting and a lot of it.
Hasn't -- and -- my -- is okay.
Yes growth is slowing but the growth is still expected to be about seven point 6%.
This year and you know -- would be an amazing story for the US we had seven point six.
Percent growth so it's still going a lot it's just slower than it lightly you know -- double digits.
I governor Romney has said that at least he did so last year that he was concerned about the devaluation of the of the Chinese currency they're devaluing it currency so -- price or cheaper so that we were buying them have they staff devaluing their currency or is -- that wasn't enough to attract our dollars there really wasn't happening at all.
There isn't a very very slow reassessment insists -- playing at a Treasury Department has been going back and forth with them over.
But there is a big currency difference that a lot of people.
Are concerned about that's not really responsible for these growth.
Figures -- these these -- figures have farm mortgage you with the fact that the global economy struggling if you think about it.
Who does time not sell all of that stuff to China sells -- to the United States.
And to Europe and as you know the US economy is still struggling people are not buying as much made in China are -- -- he wears.
Things that they used to and yeah that's really and a pickle with their debt crisis over there and so -- China's customers and that's why China's growth is slowing.
And it -- brain is listed as -- was thinking about those uniforms those Olympic uniform so it's sort of hard right to it is right now it's really so hard to feel sorry for.
China's economy is slowing down since we're still buying from them like drunken sailors even -- the to image to the point that actually I shouldn't say drug -- -- last -- I said that every person navy wrote me an email so I don't I'd take that back anyway.
Louise thank you.
Filter by section