beat. a clip of the documentary death by china with us writer, producer director peter navarra and author death by china confronting the dragon, global call to action. thanks for coming in this morning. great to be here. what s your overarching concern about our trade relationship with china? why is it death as you call it? well, since they joined the world trade organization in 2001 with the support of both the democratic president and a republican congress, we ve seen over 50,000 of our factories disappear, we ve lost 6 million manufacturing jobs, we ve got 25 million people who can t find a decent job and we ve got both the politician in the media, they haven t figured out that the trade deficit is the problem with our economy. we can t solve our economy until we solve our trade deficit problem. over 75% of our trade deficit excluding oil is with china. they cheat. that s the problem. they don t play by the rules. they manipulate the currency,
the film is death by china and premieres this weekend in new york. thanks so much both of you for joining us. thank you. up next, would you risk your life to save someone else s? the new science separating those who step up from those who step back. [ male announcer ] this is rudy. his morning starts with arthritis pain. and two pills. afternoon s overhaul starts with more pain. more pills. triple checking hydraulics. the evening brings more pain. so, back to more pills. almost done, when. hang on. stan s doctor recommended aleve. it can keep pain away all day with fewer pills than tylenol. this is rudy. who switched to aleve. and two pills for a day free of pain. [ female announcer ] and try aleve for relief from tough headaches.
these are jobs that could be in oregon, northern california, along the coast in general for which there are well trained and very interested men and women who would take them in a heart beat. that from a new documentary death by china which takes on our incredibly unbalanced trade relationship with the rapidly developing world power but it is not just the jobs but the trade agreement which forces a 25% tariff on u.s. goods entering china but only 2.5% tariff on chinese goods entering the u.s. this is one of the many reasons we currently owe more than $3 trillion to china. the film draws a stark line between the hard working people in each nation and the governments that are allowing their respective people to be victimized and exploited. joining us now to explain how all this happened and tell us what we can do to fix it is economist peter navarro who wrote, produced, and directed death by china and forbes columnist gordon chang who appears in the film, lived and worked in chin
the folks at the brookings tax policy center helped us put this together. these different groups of popcorn represent your income level. the bigger the bag, the bigger the income level of the group we re talking about. i want to use the popcorn to demonstrate how much of the total pie, how much of the total tax revenue is generated by each group. let s start over here with the little one. these are people who earn less than $30,000 a year. that, by the way, is about 44.8% of all households in the united states. they don t pay a lot in income tax. in fact, generally speaking they get back 4.8%. i m going to put a few kernels into their pot because they are not paying taxes. let s look at another group. this bag represents people who earn between $30 and $100,000 a year. that s about 40% of households in the united states. this group represents a contribution of 18%. 18% of the total personal tax revenues come from here. i m going to put about two handfuls of popcorn in the bow
the united states is ready for the challenge. as we ve discussed, the united states and china will continue to compete and as americans, we welcome competition it s part of our dna and propels our citizens to rise to the challenge. cooperation as you and i have spoken about, can only be mutually beneficial if the game is fair. perhaps we welcome competition, but are we ready for it? business professor peter navarro is the author of the book death by china. peter vice president biden says the u.s. welcomes competition. you say china is using in your word, quote, weapons of job destruction against america. what is that and what needs to happen for the u.s. to at least compete fairly with china? we had ten years now since china joined the world trade organization of unfair trade. the weapons of job destruction are clear. there s five. start with currency manipulation. it acts as a huge subsidy for chinese goods coming in and huge tariff on our products to china. you have