tv Trade in Asia- Pacific Region CSPAN February 6, 2018 1:31am-2:27am EST
oral argument on the rights of criminal defendants. later some recent state addresses by the governors of alabama and rhode island. australia's prime minister is traveling to the u.s. later this month to meet with president trump at the white house. earlier today the australian ambassador to the u.s. talked about the state of relations during a discussion on trade in
the asia-pacific region. he also shared his thoughts why the u.s. should be part of the transpacific partnership, a trade agreement the u.s. withdrew from shortly after president trump's inauguration. hosted by the washington trade association, this is just under an hour. good afternoon, everybody. i'm the executive director of the washington international trade association. the membership association for the international trade community. thank you ambassador hockey and your wonderful embassy staff. they do a great here in washington on behalf of your government and we're very grateful to them for what they do, thank you. we'd also like to thank you for those watching on c-span. we've had a very busy few months at weta. the last year has been quite
eventful on the trade agenda. over the next five weeks we'll be hosting five separate events looking at the congressional trade agenda, the implications of tax reform for trade and investment, the impact of nafta in the states and provinces. for that we'll be welcoming the governor of colorado and the premier of ontario. we hope to announce one or two governors for that event later this muonth. and in march looking at at event discussing president trump's trade agenda and discussing brexit. two years ago we held an event with the ambassadors of chili, mozambique and the european union. that event touched on the kig developments in global trade around the world including the
role of china. and today we look forward to a deeper dive of trade in the asia-pacific. the hashtag for today's event is global trade. shawn is the world trade editor for the financial times and previously served as the financial times world news editor. he's covered trade and globalization for the ft from posts around the world. but more importantly for today his late father was osstraustra and his mother stills lives just outside sydney. when i asked him to do this event he said he was more than willing to moderate if i was willing to discuss the discussion between two aussies about cricket. >> thanks very much, ken. and yeah, i think i said a full hours worth of chatting about cricket and then we get into the
rugby and maybe we can talk about the super bowl later. thank you so much for having me. it's an honor to be here as an australian. joe hockey is australia's ambassador to the united states. he also for those of us who have followed australian politics, is someone who is well-known as a former minister in different portfolios including financial services, employment and workplace relations and lastly as treasure of the common welt of finance minister and secretary of the treasury. he served as a chair of the finance ministers in 2014 and a membership of the leadership in 2015. he was also a regular delegate to the world bank, the world development bank and apex meetings. in other words, he's been around and he's in a great position to talk to us today about trade in the asia-pacific and how the
australians see it. ambassador. [ applause ] >> thank you very much, shawn. and to you, ken, thank you so much for hosting this event even though it's in our embassy. but it is a great pleasure to be here, and i'm happy to talk about cricket, but i think most of the crowd here wouldn't understand what we were talking about so we'll leave that to another day. let me begin by saying that osstro australia is unapologetically supporters of free trade. with ten free trade agreements already in place, we are actively pursuing other high quality free trade agreements.
including, of course, the recently concluded tpp 11. and we have a wide network of fta's across the endo-pacific. including thailand, asia, new zealand and many more. and we are currently negotiating additional agreements. australia is often referred to as a the lucky country. a country with an abundance of land. we're the same size of the continental united states but with the same population as florida. we have an innovative and diverse population. one in every four australians was born outside of australia. and one in every two australians has at least one parent who was
born overseas. so diversity is our strength. and we're fortunate to hold the record among developed nations for continuous economic growth. our last recession was in 1991. we have entered now our 27th straight year of economic growth without a significant downturn. but the truth is we've made our own luck, and trade liberalization has played a very large part. as a nation australia produces far more than it consumes. open markets better enable us to sell our express production which in turn generates more opportunities for our people. since 1964 our two-way trade with the world has increased by a factor of 100. economic modeling undertaken by the center for international economics shows that trade
liberalization over the last 30 years added nearly 5.5% to our annual baseline gdp. for the average australian family this period of trade liberalization is estimated to have seen real income increase by around $8,500, more than it would have been without free trade. economic deregulation can be painful. i know as someone that did it over many years in many different parts of the economy. it's not easy and certainly not politically easy to remove government subsidies. particular in industries such as car manufacturing and textiles. more over governments gain revenue through tariffs and influence through subsidies. but reform keeps us competitive in an increasingly competitive
global economy. free trade enables you to stay competitive. if you don't have free trade, you fall behind. australia's strong and growing tie tuesday the endopacific region have been a massive contributor to our prosperity, and it will only improve as the in in endo-pacific class grows. within 12 years the endo-pacific region will produce more than half the world's economic output. it will consume more than half the world's food, and it will consume nearly half the world's energy. if the 19th century was the european century and the 20th century was the american century, then the 21st century will be and is the endo-pacific
century. the region will be and arguably is the economic powerhouse of the world. nearly two-thirds of the world's growth will come from asia over the next decade. i say again nearly two-thirds of the world's economic growth will come from asia over the next decade. within the next 15 years four of the world's five largest economies are in our region. in just over ten years asia will be home to a middle class of 3.5 billion people, up from 500 million today. this will create immense opportunities that are unprecedented in global history. and at the heart of this economic miracle is modern china. it's a remarkable story. it is a $10 trillion economy
with 6% to 7% economic growth. most economies larger than $4 trillion grow at only around 2% to 3%. so china, a $10 trillion economy growing at 6% to 7% has unlimited continuing potential. and it's going to continue to do so for the foreseeable future. now, let me give you what an example of what that really means. take china's singles day. it's what it's called, singles day. and it's a chinese celebration of being single which originated in chinese universities in the 1990s. it takes place annually on november 11th. it's a great shopping day. today singles day is much like cybermonday or black friday where shoppers flock online to take advantage of sales and make purchases. last year alibaba alone turned
over $26,000 over 24 hours. the it had twice the revenue in one day than the entire u.s. black friday and cyber monday sales combined. o one day. this illustrates the extraordinary opportunities of the asian marketplace. the rebalancing of our economy, the population and natural endowments position as well to capitalize on this growing, urbanizing and increasingly prosperous endo-pacific region. we seek to keep all markets open and deepening economic relationships across the region.
this region is not only important to the united states it's essential for the united states. and it will continue to provide enormous opportunities as an export destination for u.s. goodies and services. most importantly it's an opportunity for u.s. innovation, where the united states clearly still has a massive economic advantage. within the next two years australia wants to have a network of free trade agreements and a forward negotiating agenda which covers 80% of our total trade. we already have in place, as i said, free trade agreements with seven of our top ten two-way trading partners. and obviously there's a big focus on the endo-pacific. having recently concluded negotiations of a bilateral free-trade agreement with peru we are currently negotiating a
free-trade agreement with the pacific alliance. singapore, canada and new zealand are doing the same. the region is not standing still and it will not wait. we are also very engaged in the negotiation of the regional comprehensive partnership, which includes 16 endo-pacific economies including china and india. together the 16 countries account for a third of the global economy. australia is continuing bilateral notions with hong kong, indonesia, and india. and additionally the european union announced it will start negotiations for free-trade agreement and had list goes on and on. the tpp union met and finalized the transpacific partnership agreement. it accounts for almost 15% of
the global economy and a significant share of the endo-pacific economy. the agreement will greatly increase access for all members. for example, we will gain improved access to mexico and canada, and we don't currently have free trade agreements for those countries. over 98% of tariffs will be abolished amongst tpp members. this includes new reducks, for example, in australian tariffs. further agreements in our bilateral free-trade agreement. it's worth about $2 billion to us annually. australian cattlemen currently get hit with a tariff just under
15%. under the tpp it drops to 9%. u.s. cattlemen get hit with 39%. that's the difference. under tpp 11 many tariffs go to zero including on important agricultural communities such as cotton, seafood, horticulture and wine. it means new market access for dairy products for us into japan, canada and mexico. and while in the short-term australia benefits from the u.s. being outside of the tpp 11, it's certainly not in our long-term interests. and it's certainly not in the long-term interest of the united states. we want the united states to be fully integrated into the endo-pacific region and the tpp
11 delivers that at very low cost. the logic of the tpp is clear. it's high standards and comprehensiveness provide us with a strong level of confidence, that the deal will bring huge benefits to all who sign-up and will act as a positive force for market opening and economic reforms across the region. the economic dynamism has benefitted the united states and will continue to do so. for example, half of apple's revenue comes from sales in the asian markets. jp morgan-chase the most profitable bank in the united states earns about a quarter of its annual revenues in asian markets alone. and if you go to other areas of services, box taking in china were well over $2 billion in
2016. china has an insatiable appetite for hollywood. 20 new cinema screens are being built every day in china. every state in the united states has benefitted in terms of jobs that have been created through exports into asia. for example, 27,000 jobs in pennsylvania, 20,000 jobs in florida and the list goes on. the export trade to asia alone supports more than 500,000 jobs in the united states. if you export you create jobs. the more you export and the better prices you get, the richer you become, the more jobs you create. the u.s. wants to be in the fastest growing marketplace in the world. it wants to be where the action is, and it should be where the customer is. the u.s. needs to make it easy
for others to buy its products, not to make it harder. and less red tape and the less tax you have to pay on sales the more profit you make. this in turn creates more jobs. so, ladies and gentlemen, u.s. leadership in the endo-pacific and beyond has underpinned decades of peace and prosperity not only for the people of the region but for the millions of americans whose jobs and livelihood depend on the u.s. growing trade with china, india, japan, korea, australia and others. maintaining the united states leadership in the region is a logical avenue for maintaining the prosperity of millions of americans. australia will continue to forge broader and deeper economic partnerships with the countries of the endo' pacific and continues to welcome u.s. engagement in the region for the benefit of all.
so for the sake of the united states, we urge americans to heed the words of woodrow wilson, which were uttered just down the road in early january of 1918 when he laid down the 14-point plan for american prosperity into the 20th century. and, of course, article iii, the removal of economic barriers and the support of free trade are the guiding light for american prosperity that had been in the 20th century and will continue to be in the 21st century. thanks very much. [ applause ] >> well, i had all of those wonderful questions lined up. i spent the weekend studying your white paper on foreign policy, laying out the next ten years, and you've just blown through all of them in that speech there. so thanks very much.
i wanted to pick up on something that you -- why don't we start off with one of the points you made, which was you laid out a really compelling case for -- for some water. can we just get a bit of water with a bit of whiskey as well. >> it's probably budget cuts. >> you laid out an incredibly compelling case for the u.s. joining the tpp, and i think a couple of weeks ago we would have said even raising that prospect with this current administration would have been -- you would have been
treated like a bit of a fool. but at davos things seemed to change a bit, didn't they? we had these comments from the president where he at least opened the door to rejoining the tpp on better terms as he put it. i wonder what you made of those comments and if you've had any interaction with the administration since. >> well, the official line is that the architecture is open and accommodates anyone choosing to join. so if the british want to join tpp or the united states or anyone else are welcome to be a part of it. the hard part is, you know, if you're joining a club, it's very hard to put in your application and not change the rules at the same time. and that's sort of where it's at with multilateral agreements. even when you've got a massive economic powerhouse like the
united states, it would be incredibly hard to ask 11 countries to go back to their parliament's or congress and say, look, we're going to give up these things so the united states can join. the first question will be from our good friends in the media are we winning out of this or is the united states winning? and it's very hard to convince your own population that you're going to win if you're making sacrifices for another country. now, there have been a number of provisions that have been suspended in the -- in the tpp 11 because the united states has not joined, particularly around isds and other things. but having said that, the door's always open. >> is there going to be a cost for the u.s. to get back in? >> i hope not. i think there's a cost for the u.s. not being in.
>> yeah. but if they want to get back in, are you going to demand a cost? >> no. i mean the tpp is designed to set standards for the fastest growing economic region. we want to have low trade barriers. we want to have greater access to the fastest growing market in the world. we want to influence their thinking with our products, our services. we want to be able to grow our prosperity by going to a bigger market. if i was running a small business and you said you can have 10,000 people walk past your shop every day or you can have 1,000, i'd say give me 10,000. and that's what tpp does. it gives you, and it sets the rules. and i think the rules should be based on a system of law and based on the trade protections
that the united states and australia and japan really like and prosper under. there are better rules than having no rules. >> right, and they're rules that the u.s. helped negotiate in the first place, the previous administration. you talked about the need for -- yeah, this is -- that's better. there we go. you talked about the need for u.s. engagement. you talked about the tpp as a key tool for u.s. engagement. if not the tpp, do you see a way the u.s. can engage meaningfully in the indo-pacific, in asia now, or is it going to be doing so with one hand tied behind its back? >> no. look, the u.s. is always going to be a force for greater good. and it's by far the biggest military in the world. it spends more on its military
than the next eight countries combined. it's by far the biggest innovator in the world. around 30% of rnd dollars in the world are spent here in the united states. and it's the capital markets. the 77% of world trade has u.s. components. above and beyond all that there's about 150,000 dead american soldiers buried in the sand in the u.s. pacific region. the u.s. is never going to walk away from the region. the question is how much influence does it want to have on the future of the region? how much do you -- again, i come back to the business analogy. if you're running a business and you can influence the way your customers behave, give me that. and that's effectively what the tpp does. it gives the united states a voice in influencing the
attitudes and the practices of its biggest customers. >> there's a big section in the foreign policy white paper on australian values there. and there's also a big section there talking about china and the u.s. and how do you balance the two. you're talking about u.s. values, free market values, and the administration here often portrays what's going on in the world todays a clash between different values. in australia do you feel like you're caught in this clash of values as well as trade and commerce? >> no. our values don't change. we fought and died as you can see in the posters here, 100 years spent together. we're the only country on earth that has worked side by side in the united states in every single major conflict in a
hundred years. we were there in vietnam, iraq, still in afghanistan with you. we've been there world war i, world war ii, the list goes on. and that's not going to change because we share values. and usually you fight for values, to protect them. freedom, democracy, enterprise, opportunity, community, family, the rule of law, integrity of the legal slystem. there are things ingrained in our culture and cultures that when checked, the united states is by far the biggest investor in australia. even though last year for the first time china passed the united states in a one-way flow of investment interest rate. china is by far our biggest trading partner. ones a customer, a very valued
customer and obviously china is really important customer to us. and in many ways and many areas a partner. but the united states is our long-standing partner and our ally, and that's not going to change. >> can you talk us through a bit more about the prime minister's visit later this month and what's going to be top of the agenda there? >> well, the prime minister's coming to washington and will be meeting with president trump. they'll obviously be talking about trade and investment, infrastructure, tax reform, the things that we have very much in common as well as, of course, our intelligence relationship, which is very deep. and our military relationship, we have military personnel in 35 u.s. states. we spend $20 million a day buying military equipment here in the u.s. and with britain arguably we're the closest intelligence partner of the united states in
different areas. so it's a very, very deep and sophisticated relationship. but also we are partnering with the national governor's association, and we have the most significant political and business delegation coming ever to the united states to washington, d.c. and we're partnering right here and down the road with the nga and the governors. we've got all of our premieres coming as well and 20 leading business cos from australia and 20 cos from the united states. >> i'll open up the floor if you have a question. >> we ask people to identify yourselves and ask your question in the form of a question. >> you can ask anything you want. >> anything you want. all it way to the back of the
room there and then -- >> thank you so much for being here. i want to ask about tpp 11. i know the gel is to have it signed before march. is there anything potentially delaying that or bringing the u.s. -- what would the process look like? would those provisions automatically come back no questions asked or are their certain hoops the u.s. has to jump through? >> in relation to had first question, no. there is no suggestion of delay. in relation to the second question, that would be a matter for negotiation about whether the suspended provisions would continue to apply.
different countries would have different requirements, according to the mind of their own parliament's and congresses. >> any other questions out there? there's one over here. mic's coming to you, if you can stand up. >> you guys touched a little bit on where australia sort of fits into the u.s.-china dynamic. i just wondered if you could comment more specifically to u.s. president's approach and many may result in trade sanctions. and there are a lot of people in this room who probably agree that china does need to open up its economy.
do you think it's the right approach or do you think there's going to be retaliation? >> it's not for me to pass comment on the president of the united states. he's doing what he believes to be right for the american people. and frankly, that's what he campaigned for. and he's right to do so. you know, each country has its own approach to dealing with china. and that's because we all have different relationships with china. the fundamental point is that there is no doubt as president obama made a particular point about is that there has been unlawful stealing of intellectual property by companies in china, by individuals in china. and it's no different, in a
sense, to, you know, any massive economy -- you know, i often think when i travel around the united states, every single state and sometimes every single county is a different country. australia is much the same. so when i go to an airport in the united states i look at the sea of people, whether it be an airport in phoenix or charlotte, i'm going, oh, my god, you've got a lot of people here. and you have about 15 times the population of australia, right? well, china has five times the population of the united states. and the cultural differences in china are barely understood by westerners but should be understood to understand how diverse and possibly very hard to manage the interests are across china.
you know, i kid you not. you know, when i was treasurer and i was in discussions with chinese officials about the fact that one province in china had slapped tariffs on our wines, beijing was horrified. they didn't even know. and they told me how much they loved australian wine and how they would have been devastated to have been asked to put tariffs on australian wine. they didn't know. and there's this basic assumption that beijing knows everything. ask that's certainly what they prese pretend to the world about what's happening in china, and they don't. so it's an incredibly diverse nation. having said that, it's all the more reason to join these multilateral agreements like the tpp 11 so you set the bench mark, the standards that need to be set for not just the country
but the region. and the point that is lost, which i continually make, is that often countries will use international agreements as a way to drive economic productivity gains in their own economy. and nothing illustrates it better than vietnam, which probably sacrificed more in the tpp negotiations than any other country. and they did that because they are desperate to deliver domestic reform fat makes them competitive and lifts the living standards of their people. and, you know, they're desperate to side with the united states, politically, strategically. they want to be friends and close to the united states. and sometimes trade agreements have a much, much bigger role than simply being about a trade
imbalance or about getting access to a particular market. >> have you detected any change in the tone over at the white house or the conversation that you're having there? i think a year ago when the administration came in they were pulling out of the tpp, they were ripping stuff up. has that evolved? have things changed? >> sure because i was a minister for 13 years and every time i got put into a new job by the prime minister i used to say to my public serve. >> look, all wisdom and knowledge doesn't come through the air-conditioning in the new office. in some cases i go to a new job and i knew nothing about the portfolio, which we had a thing in australia called question time, which is very sobering. because immediately you walk into the parliament and you're expected to be an expert on every single issue.
and so you have to get up to speed very quickly. i cut any new administration some slack when they come in fresh because all the wisdom and knowledge doesn't necessarily happen. and that's the history of transitions here in the united states. i mean, you know, i'm constantly trying to put aside biases and partisanship. and it's too easy to become a commentator on washington politics. i think it's a really, really bad street. if you can just try to remain objective, then you won't lose sight of the fact that sometimes mistakes are made. sometimes there are misjudgments, but i think there's an incredible capacity to change the course for the best interest of the nation. i think the white house has displayed it. >> you think they're changing courses on trade? >> i think they're becoming more -- some people are becoming more aware of some of the
dangers of immediately ripping up agreements. and, you know, trade agreements are about, as i said, just simply maintaining growth. i got so frustrated. when i became treasurer we decided we had to make some really hard decisions. and one of them was we just couldn't keep paying what i call welfare to business, subsidies to business. and that covered not just the auto industry but a whole range of other industries. how can you reduce the welfare for pensioners or disadvantaged people in the community and still hand out money to businesses? i couldn't make that stack up. so that meant that, you know, there was a change in the australian economy. a lot of it was pushed from overseas and we had no control over it.
the auto makers they decided to leave australia, but other areas it was very hard. and the end result was that opened up an opportunity for us to negotiate a free-trade agreement with korea. and korea had a lot of car parts and a lot of cars coming to australia, and there are tariffs. and what they said was now that you're not providing subsidies for industry, we can get serious about a free-trade agreement. and we negotiated a hard free-trade agreement with them, but it delivered real benefits for australia. and, you know, i lost the tariff revenue. i was collecting tariffs. i'm going, hey, why is my budget worse off but you keep telling me this is great bid. and they said it's about keeping our head above the water. if we don't become competitive, we start to sink. so it's not about what you gain but about what you may lose if you don't do it. and as soon as korea signed up,
japan came to us after a decade of negotiations and said you just signed with korea, how about signing with us? and that's great. and suddenly japan signed a free-trade agreement. and then china after years of dragging said hang on, you've just sign would korea and japan, you better sign with us. we go what does that mean? and they said well, you know, we're going to abolish, for example, the tariffs on u.s. wine exports to china are 19%. for us there's zero. we can now open up hospitals in china without having to have joint venture partners. our services represent 70% of our economy but represent only a fraction of our exports. so we see the fastest growing middle class in the world as an
opportunity for education, tourism, health services, financial advice, banking services, et cetera, et cetera. the things we've previously focused our domestic economy we can now export into our region, and the great advantage is we're in the same time zone. >> look, at some point we should talk about the super bowl last night and the ad at some point. i think my kids were incredibly disappointed there wasn't going tee to be a crocodile dundee 2. let's go back to the floor, second row right here and we'll come over. >> with the tpp 11 is their interest in the 11 countries and expanding the agreement in the
near-term and if so, with whom? and does that vehicle now get back to being a pathway at some point in the future? >> so i think it's a been a long negotiation to get to where we are, not suggesting you shouldn't be ambitious. but there are a number of other countries who have expressed interest in joining tpp. such as korea, potentially indonesia and a number of others. and even -- i think even we might have heard the hint from china that they might join at some point. so i think, you know, the starting point is to stabilize the tpp, get it under way, illustrate the real benefits of being part of that partnership and welcome new members if they choose to join. i mean, britain said that they may join. and while you go, hang on, last
time i looked britain wasn't in the indo-pacific. yeah, they've been quite a bit in the past. but also bear this in mind, i was very involved in the establishment of the asian instruct and investment bank. and we were dragging at the time in joining that until we got certain commitments from our good friends in china. but out of the blue britain said we're joining, which certainly upped the wattage on us. and half of western europe joined, and that changed the nature of the aib, but it's still the asian infrastructure investment bank. and bear in mind you still got the asset negotiations going on in the background. they're meant to conclude this year. >> concluded last year, i think. >> yeah, that's right. >> back to the floor.
there was a question right -- the woman in the middle there. >> i just wondered given our relationship with china [ inaudible ]. >> well, for example, in the tpp it has a rapid clause that allows us to get a deal better than what we have with australia and japan free-trade agreement. under the australia-japan
free-trade agreement their tariffs on our beef go from 38% to 15%. under tpp they go down to 9%. so terrific. in relation to china, i found that the main thing with main china is they want to know what the rules of the game are, and then you've got to prosecute those rules. as treasurer i ordered the now wealthiest man in china. we have a foreign investment rule that says if you're a foreign citizen you're not allowed to buy existing real estate in australia, residential real estate in australia. you can buy new residential real estate, apartments or a new house because that investment creates the jobs that goes into the construction. but you are not allowed to buy existing real estate. he purchased existing real
estate, he broke the law. he had to sell the property within a few weeks. now, i was waiting for my friends in china to say let's get in touch, but they didn't and why. because i was the first treasurer to invest in state infrastructure. and they started to invest in our infrastructure, their state owned enterprises to invest in our infrastructure where we deemed there was no conflict with our national interest. now, as long as the rules are there, then i think the thing that works best with china is to enforce the rules. and if they're breaking the rules then you take them to the p wto or the independent parliament. sometimes it becomes an issue of face, and sometimes you're not going to get the best result from that one.
>> i'm going to take three as asert of closing round, if you will. we have the middle of the room, the front of the room, and then is there one on that side for balance? we'll take four. we'll take the gentleman here in the back. keep them quick. >> in terms of the tpp, you know, why did president trump change his status on the tpp? >> the front here just quickly. >> a question regarding tpp and multilaterals in general. how are apac relevant.
>> and second row here and then quickly in the back. don't remember, i'll remember these for you. just right here if you put your hand up. okay, in the back there. right there. last question. it's coming, it's coming. this is all in the name of getting us to drinks right on time. >> as i understand it president trump said he will consider joining the tpp and get a better view. this means that the u.s. will work to reenter the tpp if they see conventional changes, what will be your reaction to the tpp 11 and entering into discussions with the u.s. under those
conditions? thank you. >> it always comes down to sugar at the end. look, you had tpp, what changed his mind and what are you going to make of the search for a better deal. >> you know, it was democrats never supported tpp. a democratic president, president clinton, the president supported tpp, but the vast number of congressmen and senators did not. and i remember when i first came here and i was meeting with the democrats, i'm going come on, right? this is -- this is -- this is great. and it's the same political issues in australia that the trade union movement has a strong view, thinks that free trade is bad for them and they lose control of their marketplace. and i understand those anxieties. but, you know, there was a constant reliance on the republicans.
and there was a feeling that i could detect immediately that, you know, those responsible for free trade have failed to sell it and to sell the benefits of free trade to the workers. and, look, you know, there is a terrific statistic that i often wheel out. china lost 19 million manufacturing jobs between 1995 and 2005. china lost 19 million manufacturing jobs. some of the jobs went to cheaper venues, you know, to laos, or cambodia or vietnam, whatever the case might be. mechanization, digital autonomy, all had an impact. job losses in america, particularly in the midwest are, you know, people directly linking to free trade. i think they're wrong to do so, but no one has bothered to explain it. and there is an assumption that
everyone knows that free trade is good. no, that's not right. when you've lost your job, your town's lost its major manufacturing base, actually you're not up for a discussion about it. you want to know where the next job is coming from. so i have some sympathy for the debate. but it just means that everyone needs to be out there explaining what the benefits are. and importantly, what is the cost of new protections? so that was the first one. >> skip to the last one quickly. and that is that question of are you going to -- you know, president trump has said he'd like to look at the tpp, but it's going to be on better terms for the u.s. >> i understand that. every leader would say they need to be on positive terms. you know, no one's going to rule it out because it's the united states of america. and we want the united states of america in the tpp. we really do. and last i saw, a majority of
americans actually want free trade. and american business, surely, would want to have cheaper access to the fastest growing market in the world. you're a sugar farmer, or associated with sugar farmers. you should be jumping up and down calling for this because the united states is a great producer of great sugar. what you want is the best price for your sugar. because that makes you and the people in your town richer. and if you're richer, you can spend more money here in the united states. so employ more people and create greater prosperity. that's why free trade matters. that's why you benefit from free trade. >> that's a pretty good note to end on. ken. >> thank you, ambassador, and a round of applause. >> thank you, very, very much. a few instructions for everybody, we are going to be segueing to the annual members meeting and reception. we'd ask you to clear out from
the seating area very quickly to the sides, over to the bar area over here in particular so we can clear out the tables, the chairs, and set up for the reception. thank you very much. >> defense secretary james mattis is an capitol hill on tuesday to testify on the pentagon's national defense strategy, and a recent review of capabilities. housed arm services hearing includes the air force general paul selba, live coverage at 9:30 a.m. eastern here on c-span3. >> c-span, where history unfolds daily. in 1979 c-span was created as a public service by america's
cable television companies. and is brought to you today by your cable or satellite provider. >> the supreme court recently heard oral argument on whether a death row inmate's sixth amendment rights were violated after his lawyer admitted his guilt during a trial as part of a defense strategy, even though the defendant objected to it. the case dates back to 2008 when robert mccoy was accused of killing his estranged wife's three family members after being convicted on three counts of first degree murder, mr. mccoy filed suit for a new trial but was denied. he then appealed to the louisiana supreme court, which also ruled against him. this oral argument is an hour. >> your argument next in case 168255, mccoy versus louisiana. mr. waxman? >> mr. chief justice, and may it please the court? when a defendant
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