Episode Details

1860 QING DYNASTY
Reforming Globalization to Avoid Conflict
Jake Werner of the Quincy Institute for Responsible Statecraft, writing in The Nation, discusses US-China trade relations following Xi Jinping's Washington visit. Werner traces how 1990s free-market globalization through the WTO, IMF, and World Bank enriched multinational corporations while exploiting developing nations. However, China leveraged its strong state and market scale to demand technology transfers and intellectual property sharing. Rising American grievances over IP theft, paired with Chinese fears of the middle-income trap, created mutual resentment. Werner advocates reforming the global economy by raising wages, providing public goods, absorbing overcapacity, and engaging China as an equal peer. (1)