This program explains key principles at the core of global economics and takes a historical look at their effects, focusing on market liberalization and the failed “East Asian miracle”; privatization of basic resources in Bolivia and the severe backlash against it; Russia’s rapid transition to capitalism and the oligarchism and kleptocracy that came to characterize it; and China’s incremental implementation of capitalism under communism. The video also takes stock of the seismic shift in the U.S. economy and its probable effect on the rest of the world.
Peterson Institute for International Economics Senior Fellow Furman states, global trade volume has increased 40-fold since the end of WWI; approximately 325 million Americans purchase imported products and 14 million work in export industries. Furman cites wage and capital flow statistics.
The inside story of President Trump’s gamble to confront China over trade. Reporting from the US and China, NPR and FRONTLINE investigate what led the world’s two largest economies to the brink, and the billions at stake.