Red Capitalism Debate (03:18)
Intelligence Squared U.S. Debate Forum Chairman Robert Rosenkranz outlines the question of whether China's economic policies are more successful than America's and introduces moderator John Donvan.
Debate "Housekeeping" (06:52)
Donvan states the motion, explains the debate format, and introduces the panel members for each side.
For the Motion: Peter Schiff (08:10)
Euro Pacific Capital CEO & Chief Global Strategist Peter Schiff argues that China's capitalism is better than the U.S. due to lower taxes, a lower debt to GDP ratio, less regulation, and greater savings.
Against the Motion: Ian Bremmer (07:28)
Eurasia Group President and "The J Curve and The Fat Tail" author Ian Bremmer argues that Chinese state capitalism is based on finite cheap labor; the lack of legal protection stifles innovation; and volatile political environments risk economic collapse.
For the Motion: Orville Schell (07:49)
Center on U.S.-China Relations at Asia Society Director and journalist Orville Schell argues that U.S. politics are stifling the economy while China's government supports capitalism through rational action and resource allocation.
Against the Motion: Minxin Pei (07:30)
Claremont McKenna College professor and "China’s Trapped Transition" author Minxin Pei cites statistics that China ranks higher than the U.S. in corruption but lower in innovation and competition.
China's Projected Growth (06:17)
Peter Schiff (for) argues that China should stop lending to the U.S. Ian Bremmer (against) argues that China can't drop the dollar; Orville Schelle (for) argues that U.S. political gridlock gives China an advantage.
China's Social Security Debate (05:26)
Peter Schiff and Orville Schell (for) argue that China's free market benefits model is more capitalistic than in the U.S. Minxin Pei and Ian Bremmer (against) argue that high national debt provides little social protection.
Capitalism and National Debt (05:34)
Peter Schiff (for) and Ian Bremmer (against) debate whether the Chinese government is making wiser financial decisions than the U.S. Minxin Pei (against) cites a World Bank report about China's growth.
China's International Image (02:10)
Orville Schell (for) argues that developing countries see China as a capitalist success; Ian Bremmer (against) argues that China's domestic focus is eroding the global free market.
QA: Chinese Labor and Growth (04:20)
Minxin Pei argues that China's labor market is based on migrants and isn't as free as the U.S. Peter Schiff argues that minimum wage and labor laws restrict U.S. employers more than Chinese counterparts.
QA: Government and Economy (01:35)
Peter Schiff and Oliver Schell reconcile their positions on the U.S. government's role in the market. Schiff recommends that China use a less regulated model of U.S. capitalism.
QA: Capitalism and Human Rights (04:32)
Orville Schell and Ian Bremmer discuss U.S. and Chinese human rights records in terms of media censorship and market freedom. Peter Schiff argues that individual rights are freer in China.
QA: Modern American Capitalism (03:12)
Peter Schiff argues that the U.S. government controls the economy. Minxin Pei argues that Chinese state owned companies contribute more to GDP.
QA: One Child Policy and Capitalism (01:56)
Orville Schell argues that U.S. immigration is an advantage over China's shrinking population. Ian Bremmer argues that exporting Chinese labor to Africa will lead to a global market backlash.
QA: Defining Capitalism (03:19)
Peter Schiffer defines capitalism, and argues that neither the U.S. nor China currently have a free market economy. Minxin Pei argues that without a rule of law, China can never achieve capitalism.
QA: Innovation in China (02:11)
Orville Schell and Ian Bremmer debate whether China will support intellectual property rights in the future. Bremmer argues that the Western education model facilitates creativity.
QA: China's Economic Prognosis (03:08)
Minxin Pei argues that China will have to privatize companies and increase domestic consumption. Peter Schiff argues that freeing Chinese currency from the dollar will increase growth.
QA: U.S. Economic Trajectory (03:41)
Peter Schiff argues that inflation will lead to bond holder losses. Ian Bremmer and Orville Schell agree that the government isn't structured for Chinese-style state capitalism.
QA: Entrepreneurship and Capitalism (03:24)
Orville Schell and Peter Schiff argue that Chinese entrepreneurs are catching up to U.S. standards; Minxin Pei points out government roadblocks to starting a private business in China.
Closing Statement Against: Ian Bremmer (02:42)
Bremmer argues that innovation powers the U.S. market and that oil alternatives being developed will give America an economic advantage over China.
Closing Statement For: Peter Schiff (02:26)
Schiff argues that the U.S. is in an economic bubble based on consumption and debt; and that China is adopting capitalism principles as we abandon them.
Closing Statement Against: Minxin Pei (02:01)
Pei argues that China does crony capitalism better than the U.S., but will not adopt democracy.
Closing Statement For: Orville Schell (02:23)
Schell argues that China's economic achievements show capitalistic success, and the U.S. should reevaluate its broken system.
Time to Vote (04:01)
Donvan instructs audiences to vote, thanks panelists, and introduces the next debate "When it Comes to Politics, the Internet is Closing our Minds."
Audience Vote Results (00:45)
Predebate - For: 17 - Against: 50 - Undecided: 33 Post-debate - For: 9 - Against: 85 - Undecided: 6
Credits: China Does Capitalism Better Than America: A Debate (00:29)
Credits: China Does Capitalism Better Than America: A Debate
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