International Trade committee  I have not studied them, other than that I have the stats with China and South Korea and Japan and India. I was thinking about this just today actually, for a completely different reason. They seem to gravitate towards this industry specifically because it tends to be well-paying

International Trade committee  No. I'm talking about South Korea, India, and Japan. To answer your question about whether they are cheating too, I haven't looked at that because I'm so focused on China. I haven't looked at the policies that are being adopted in Japan or India or South Korea. I can tell you t

International Trade committee  I'm drawing partly on the research on industries in decline or industries facing very difficult challenges. A common strategic response that's been studied by economists and business schools is that industries in decline consolidate. We're seeing this going on in the airlines,

International Trade committee  I'll be very succinct, though. I'm really tying your question into the previous question. The Chinese do have a competitive advantage in some industries, but I do not think it's in the advanced sector. I don't believe we have to worry in the services sector or advanced manufactur

International Trade committee  I won't address that part, but I just want to pick up on your point very quickly on the pollution side and put a metric out there that I'm not sure people are aware of. China today, 2017, still sources 65% of the total energy of China from coal. You're absolutely right, of course

International Trade committee  I see. I'm sorry. I'm trying to pull a whole bunch of things together simultaneously. China is moving very quickly. We all know that. I mean by this that they are moving up the curve. Their wages are going up. I can tell you that. Every time I go back I use the laundry. I take

International Trade committee  I'm sorry. I didn't mean to—

International Trade committee  I'm sorry, I don't have that data with me right now. I'm going to defer to the president of the Steel Producers Association, because he'll have that more technical information.

International Trade committee  I'm just reading off my report here, “Chinese stainless steel sheet and strip should be subject to anti-dumping duties from 63.86% to 76.64%”.

International Trade committee  That's the stainless steel sheet.

International Trade committee  Both the Americans and the Europeans have been revising theirs to allow them to look at, for example, whether there's been currency manipulation or a cheap loan. I have enormous respect for China. I'm not China-bashing; I want to make that very clear. I've been there many time

International Trade committee  Thank you very much. I thank the committee for inviting me, for I have a deep and enduring interest in the subject of what Adam Smith called “the wealth of nations” and the concomitant principles of trade, foreign direct investment, and comparative advantage within the rules-bas