And even if they're halfway decent trading partners, it's still a little bit risky to put all of your eggs in one proverbial basket economically. And what the President has said is we must rebalance the global economy vis a vis China. We cannot absorb the hundreds of billions of dollars, close to a trillion dollars per year in annual surplus, most of it coming from the People's Republic of China. And what that's going to mean in the rebalancing is that we think that the PRC is going to have to frankly let their own population consume a little bit more. (11:51–12:04)
CLAIM
Asserts that the U.S. economy cannot continue to absorb a large trade surplus from China.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
