Quotes by Peter Navarro - Page 2

Here's the broader inconvenient truth for both Clinton and women's rights that Trump is more than willing to tell voters: Islam, as it is practiced in most countries around the world, suppresses women's rights - the only issue is the degree of severity of the repression.
Peter Navarro / Professor
Clinton
Inconvenient
Islam
Repression
Severity
Voters
Broader
Practiced
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China are running trade deficits with the rest of the world. If you look at the U.S. trade deficit, it's close to $800 billion trade in goods. Half of that is with China, so it's a big part of the problem. And the problem with China, as opposed to, say, Canada, is that China cheats.
Peter Navarro / Professor
Running
Problem
World
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We're going right down the toilet, and it's a made-in-China toilet. I teach MBAs. And I noticed, starting a few years after China joined the World Trade Organization, that a lot of my students were no longer employed. They were still coming to get their MBA, but they'd lost their jobs.
Peter Navarro / Professor
Students
Teach
World
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It does the American economy no long-term good to only keep the big box factories where we are now assembling 'American' products that are composed primarily of foreign components. We need to manufacture those components in a robust domestic supply chain that will spur job and wage growth.
Peter Navarro / Professor
American Economy
Assembling
Components
Factories
Long Term
Robust
Supply Chain
Chain
Domestic
Manufacture
Primarily
Spur
Supply
Wage
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From 1947 to 2001, the American economy grew annually at a rate of 3.5 percent. After China got into the World Trade Organization, got access to our markets and flooded our markets with its illegally subsidized exports, we grew at a rate of 1.8 percent from 2002 to 2015. That's almost cut in half.
Peter Navarro / Professor
Cutting
Economy
World
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The really big problem with China is that there are the unfair trade practices, like currency manipulation, illegal export subsidies and the theft of intellectual property, but then there's also things that the WTO doesn't cover that it should, which is the use of sweat shops and pollution havens.
Peter Navarro / Professor
Intellectual
Manipulation
Problem
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I teach MBAs. And I noticed, starting a few years after China joined the World Trade Organization, that a lot of my students were no longer employed. They were still coming to get their MBA, but they'd lost their jobs. And I started to ask questions why. And, at that point, all roads were leading to Beijing.
Peter Navarro / Professor
Jobs
Beijing
China
Employed
Lost
Organization
Teach
World Trade
World Trade Organization
Coming
Joined
Leading
Longer
Noticed
Roads
Trade Organization
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The basic problem is for a congressman or a president to get elected, they need obscene amounts of money. And the only place you can get obscene amounts of money is from Wall Street and the big corporations who benefit from shipping our jobs and our factories overseas - that's the fundamental political problem.
Peter Navarro / Professor
Big Corporations
Congressman
Corporations
Factories
Obscene
Shipping
Benefit
Fundamental
Overseas
Wall Street
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The far more likely Trump scenario is this: Chinese leaders realize they no longer have a weak leader in the White House; China ceases its unfair trade practices. America's massive trade deficit with China comes peacefully and prosperously back into balance, and both the U.S. and Chinese economies benefit from trade.
Peter Navarro / Professor
Balance
China
Deficit
Massive
Trump
Unfair
Weak
White House
Benefit
Ceases
Economies
Likely
Longer
Peacefully
Practices
Realize
Scenario
Trade Deficit
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Cheap labor is a small part of the problem at work here. If it were only cheap labor, America would be in trouble. Because it's other things, too, we have a great chance to turn it around. Here's the problem: Our high corporate tax rate pushes our companies offshore. Our high regulatory burden pushes our companies offshore.
Peter Navarro / Professor
Burden
Corporate
Labor
Offshore
Rate
Work Great Chance
Cheap
Pushes
Regulatory
Small Part
Tax Rate
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Would you rather have cheap, subsidized - illegally subsidized - goods dumped into the Wal-Mart and not have a job and not have your wages go up in 15 years, or would you like to pay a little bit more - not much - a little bit more, have a job, and have your wages going up? I think the American people are going to make that choice.
Peter Navarro / Professor
Dumped
Goods
Wages
American People
Cheap
Subsidized
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For those of you who still believe in the Easter Bunny and that the letters that appear in your local newspaper come from concerned citizens who really care, I've got troubling news. At least in politics, most of the letters that get published on the letters-to-the-editor page originate in the campaign headquarters of the candidates.
Peter Navarro / Professor
Easter
Candidates
Headquarters
Letters
Appear
Bunny
Campaign
Newspaper
Originate
Page
Published
Troubling
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It's extraordinary to me - you cannot name a presidential candidate in history who has singlehandedly, through bad trade deals, destroyed more American jobs and more American factories than Hillary Clinton. She did NAFTA, she did China's entry into the World Trade Organization, she did the South Korean 2012 deal - every single one of those.
Peter Navarro / Professor
American Jobs
Clinton
Deals
Destroyed
Entry
Extraordinary
Factories
Nafta
Organization
Presidential
World Trade
World Trade Organization
History World Me
Candidate
Hillary
Hillary Clinton
Trade Organization
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The way the textbook works is you have gains from trade that should be distributed across all the trading partners. As soon as one bad actor like China massively cheats, they win at the expense of us; they win at the expense of Europe, and over time, it threatens the entire integrity of the global financial system and the global trading system.
Peter Navarro / Professor
Financial System
Gains
Partners
Trading
Cheats
Distributed
Expense
Massively
Textbook
Threatens
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When China got into the WTO, that allowed it to sell into any other country within the WTO - not just the United States - at the lowest tariffs that country offered. And the other countries could sell into China at the lowest tariffs that China offered. The problem, right off the bat, was that China had much higher tariffs than everywhere else, so the U.S. and Europe in particular got the short end of that stick.
Peter Navarro / Professor
Country
Lowest
Problem
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The policy goal is to persuade China to stop cheating. But here's what's interesting - Donald Trump intuitively understands what things should be. I did a study in 2008 where I estimated the impact of China's unfair trade practices on their competitive advantage - the so-called China Price. You know what it came out to be? Forty-three percent. Forty-three percent - very close to what his intuition said we needed in order to equalize things.
Peter Navarro / Professor
Cheating
Goal
Interesting
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In my movie, "Death By China," it shows Bill Clinton in 2000 promising that when China got into the World Trade Organization we would be making products here and selling them there, and life would be great. Just the opposite has happened. And here's why this has been so devastating - China went into the World Trade Organization and agreed to play by certain rules. Instead, it's violated these rules. For 15 years, it continues to illegally subsidize its exports.
Peter Navarro / Professor
Clinton
Selling
World
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The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years. China went into the World Trade Organization and agreed to play by certain rules. Instead, they are illegally subsidizing their exports, manipulating their currency, stealing all of our intellectual property, using sweatshops, using pollution havens. What happens is, our businesses and workers are playing that game with two hands tied behind their back.
Peter Navarro / Professor
Intellectual
Mistake
Political
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