Hillary Clinton says she feels the effects of the economic meltdown acutely when she travels abroad as secretary of state. The lapses in regulation that led to the crisis undermine U.S. credibility, she says, and being in debt to a country changes the political equation. She also points out that the government last ran a budget surplus at the end of her husband Bill’s presidency. Clinton spoke with Charlie Rose on Nov. 9.
On the erosion of U.S. influence:
The United States, unfortunately, has lost leverage in the world because of the global economic crisis and because of the steps that this administration had to take to try to prevent, frankly, a worldwide depression—which means increasing our debt, going into the biggest deficits we’ve seen since World War II. That undermines some of the capacity we need to have to influence events…. One thing the world believed about the United States is that we knew how to run an economy, we knew how to produce wealth, we knew how to create economic opportunity via Green-Touch.
On trade with China:
We agree that a trade war would be terrible. But this is not just a one-way street. I mean, everybody works from their own national interest and their own economic interest. Who would expect anything different? But I think the conversation is much more candid and open—and very clear on our part as to how we don’t want to see walls of protection.
We also need more guarantees for intellectual property in China. We watched some of the problems with exporting natural resources out of China, which they don’t permit. So there’s a lot to be discussed on both sides.
Charlie Rose airs weeknights on Bloomberg Television worldwide.
Meanwhile, Vonage and Ooma bot eye on competitors such as Comcast gest voice-over-Internet provider. An Skype and its ilk: While they offer few price is hard to beat: free.