Detailed text transcripts for TV channel - CNN - 20100717:17:37:00
The trade deficit is agreeing aagree froeing and the culprit once again is china. americans consume more than we produce. china produces goods at a fraction of the price that we can here in the u.s. in part because of the way it values its currency. peter moricci is an economist and professor. you say that we either get china to play fair or we're headed for a depression. >> absolutely. if china doesn't play fair, there's just not a demand for what americans make. businesses need customers and capital. the customer side, there's just not enough demand for what americans make because we spend s...
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