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Quote by Peter Navarro

“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.”

Author

Peter Navarro

Peter Navarro is an American professor of economics and international business at the University of California, Irvine. He has held various positions in government and academia, contributing to the understanding of economic policies and their impact on global markets. more

“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.”

World Economy Cutting Trade Rate

Author:Peter Navarro

“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.”

World Trade Clinton Selling

Author:Peter Navarro

“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.”

Country Problem Lowest

Author:Peter Navarro

“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.”

Problem Intellectual Trade Property Manipulation Pollution Currency Unfair Intellectual Property Fair Trade

Author:Peter Navarro