Ep. 5348 – David Henderson on the Supposed Economic Threat of China – 9/4/2020

Scott interviews David Henderson about the threat to the U.S. posed by China’s growing stature as an economic powerhouse. In general, Henderson thinks that such concerns are overblown, citing the real economic figures behind the trade relationship. In particular, he explains the way that losses from outsourcing tend to be concentrated to a few employees in a specific industry, whereas the (much larger) gains to are spread out over a whole population of consumers. This results in a skewed narrative that Americans are losing out on global trade with China. He also dispels the myth that America doesn’t produce anything anymore, explaining that we produce the same amount as ever, just with many fewer workers. Henderson and Scott go on to discuss the prospects for war between the U.S. and China, a very real and concerning threat that is mitigated, at least to some extent, by an open economic relationship between the two nations.

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