In a recent podcast debate, Larry Summers clashed with David Sacks over trade policy and its effects on American manufacturing. Sacks blamed Summers for supporting China's entry into the WTO, arguing this led to significant job losses in the U.S. heartland. Summers defended his position, dismissing Sacks' claims as 'nonsense.' The exchange highlighted ongoing debates regarding globalization, trade policy, and the economic relationship between the U.S. and China, revealing deep divisions on these issues, particularly among economic policymakers.
"The millions of Americans who lost their jobs in the heartlands because we let China into the [World Trade Organization], which is something that Larry supported, that's what started this whole thing."
"Respectfully, you're talking nonsense," he responded. "You were Treasury Secretary when we walked China into the WTO, and you're still defending it!"
Collection
[
|
...
]