Tom Friedman Thinks We’re Getting China Dangerously Wrong
My colleague Tom Friedman thinks we’re screwed.That’s the first thing he told me when recounting his recent trip to China. It’s not just because of the trade war that President Trump is escalating right now. Friedman believes the whole Washington consensus on China — that the country is a hostile adversary — is dangerous and based on an outdated understanding of what China now is. He saw how China’s manufacturing and technology have advanced so far that in many ways it now surpasses the United States’.In this conversation, Friedman walks me through the advancements he saw in some of the most critical fields of the coming decades — including A.I., E.V.s and clean energy. We discuss why he sees the current consensus as dangerous, what a different path might look like and what the United States should do to develop its domestic manufacturing so that we don’t “get steamrolled.”This episode contains strong language.Mentioned:“I Just Saw the Future. It Was Not in America.” by Thomas L. Friedman“China's overlapping tech-industrial ecosystems” by Kyle ChanGenesis by Henry A. Kissinger, Eric Schmidt and Craig Mundie Book Recommendations:The works of Yuval Noah HarariThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find the transcript and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Michelle Harris, with Mary Marge Locker and Kate Sinclair. Mixing by Isaac Jones, with Aman Sahota and Efim Shapiro. Our executive producer is Claire Gordon. The show’s production team also includes Marie Cascione, Annie Galvin, Elias Isquith, Marina King, Jan Kobal, Kristin Lin and Jack McCordick. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The director of New York Times Opinion Audio is Annie-Rose Strasser. And special thanks to Zoe Zongyuan Liu, Kyle Chan and Matt Sheehan.
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1:08:12
Trump’s Tariffs, Market Panic and What Comes Next
After a week of market chaos, President Trump pulled back from the brink. But he didn’t pull that far back. He left a 10 percent tariff on most of the world and launched a trade war with China. It’s unclear what he will do after this 90-day pause or what countries need to do to satisfy him. But one thing that is very clear now is that our economy is subject to one man’s whims.How are businesses supposed to adapt to this new reality? What is this new reality?Peter R. Orszag is the chief executive and chairman of Lazard, one of the world’s largest asset management and global financial advisory firms. He also served as the director of the Office of Management and Budget under President Barack Obama, so was a policymaker during a financial crisis. And over the past few months, he’s been talking to lots of C.E.O.s and corporate board members as they try to process these changing policies. I wanted to ask him what he’s been hearing and how he sees the volatility of this moment.Mentioned:“A User’s Guide to Restructuring the Global Trading System” by Stephen Miran“Paul Krugman on the ‘Biggest Trade Shock in History’” by The Ezra Klein ShowTrade Wars Are Class Wars by Matthew C. Klein and Michael PettisBook Recommendations:Underground Empire by Henry Farrell and Abraham NewmanChokepoints by Edward FishmanSmart Money by Brunello Rosa and Casey LarsenThe Catalyst by Thomas R. CechKaput by Wolfgang MünchauThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” was produced by Jack McCordick. Fact-checking by Michelle Harris, with Mary Marge Locker and Kate Sinclair. Mixing by Isaac Jones, with Aman Sahota and Efim Shapiro. Our executive producer is Claire Gordon. The show’s production team also includes Marie Cascione, Rollin Hu, Elias Isquith, Marina King, Jan Kobal and Kristin Lin. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The director of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Matt Klein.
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1:00:14
Paul Krugman on the ‘Biggest Trade Shock in History’
The tariffs President Trump unveiled this week were both bigger than most people expected and a lot more confusing. These aren’t the flat tariffs he proposed during the campaign. And they aren’t reciprocal tariffs, as he claimed in his Rose Garden speech. So what is Trump actually doing here?I knew my former colleague Paul Krugman would have some thoughts. Krugman is a Nobel laureate trade economist who was a New York Times Opinion columnist for 25 years. He now writes an excellent newsletter on Substack, where he’s been trying to make sense of the theories behind Trump’s tariff policies and, now, their strange reality.Mentioned:“Stop Looking for Methods in the Madness” by Paul KrugmanBook Recommendations:The Price of Peace by Zachary D. CarterHow Not to Invest by Barry RitholtzWar and Power by Phillips Payson O’BrienThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.This episode of “The Ezra Klein Show” was produced by Rollin Hu. Fact-checking by Michelle Harris, with Kate Sinclair and Mary Marge Locker. Mixing by Efim Shapiro and Aman Sahota. Our executive producer is Claire Gordon. The show’s production team also includes Elias Isquith, Kristin Lin and Jack McCordick. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The director of New York Times Opinion Audio is Annie-Rose Strasser.
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
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50:45
About the Coming Paywall
In a couple weeks, the archives of our show will only be available to subscribers. Here’s why that’s happening and what to expect. To learn more, go to nytimes.com/podcasts.
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
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4:10
Coming Soon: The Ezra Klein Show
Every Tuesday and Friday, Ezra Klein invites you into a conversation about something that matters. How do we address climate change if the political system fails to act? Has the logic of markets infiltrated too many aspects of our lives? What is the future of the Republican Party? What do psychedelics teach us about consciousness? What does sci-fi understand about our present that we miss? Can our food system be just to humans and animals alike?Subscribe wherever you listen to podcasts.You can find transcripts (posted midday) and more episodes of "The Ezra Klein Show" at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein.Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.“The Ezra Klein Show” is produced by Rogé Karma and Jeff Geld; fact-checking by Michelle Harris; original music by Isaac Jones; mixing by Jeff Geld.
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
Ezra Klein invites you into a conversation on something that matters. How do we address climate change if the political system fails to act? Has the logic of markets infiltrated too many aspects of our lives? What is the future of the Republican Party? What do psychedelics teach us about consciousness? What does sci-fi understand about our present that we miss? Can our food system be just to humans and animals alike?
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
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