OK, I am an economist, and I agree free trade is the correct economic answer; nut, it is not always the correct geo-political answer. China has committed to dominating and controlling the US, and they are waging a "non-shooting war" against the US. Hence, we are in an economic, political and culture war with China, and we can not allow China to take advantage of our desire to have "cheap labor products"to win that war for the survival of our society. And we can not allow the World Economic Forum to impose China's political infrastructure on us. So, the economist in me has taken a back seat to my political commitment to the Constitutional Republic our Founders envisioned, and to the Bill of Rights that they ultimately also agreed to.
Having no trade restrictions is ideal. If we have no foreign policy adjustments then by default we adopt the foreign policy of our trading partners. For instance if they subsidize a industry then that is also our policy. This doesn't mean it's bad individually but if the result is the loss of a manufacturing base that degrades the economy overall then that should be considered and countered if deemed necessary.
Definitely not easy but it's only simple if everyone engages on the same terms. If everyone is free trade then it has a much better chance of working.
Agreed, but when the threat of war is upon us, we do not trade with a "shoot war enemy." so we can not trade with a geopolitical war enemy. If so, we feed the enemy war machine.
I believe the damage our own China building corporation and government have committed are irreversible at this time, and the consequences are the current state of our once great Republic. I always questioned the reasoning behind the building of the largest communist nation on earth, but now fully understand it was more about the hatred of America and our motto of In “God we Trust”. The Joseph McCarthy purge of communism was legit, but only sent the anti-capitalist/American into the shadows, and they are now in the final stages of their success. Shame on us for falling for the lies and propaganda of these most evil people. In the end, we all deserve the government we have, and only have ourselves to blame…
All well and good Joel but there hasn't been free or fair trade anywhere in the world going on a century+ now and when it comes to trade with China they are going to cheat, lie and steal no matter what you do. Being a free trade advocate myself I would still favor a 200% tariff on everything coming out of China. They are not our friends and they are not so called "trading partner". They are an existential threat though and they vocalize that threat daily.
The good news is their economy is starting to crater and they have a demographic time bomb that's about to detonate. It can't happen too soon to suit me.
Yes, I am an America Firster, first, last, always and only.
One of the greatest lines ever written: "the political class – from one end of the Americas to the other – is full of geniuses with patrician degrees and plebeian intellects."
All very idealistic and good in theory, but you aren't going to fare too well competing against slave labour and resource hoarding like China does, especially when your own population are forced into the "green energy" dream and environmental restrictions. Drive around and look at the closed factories and dead towns and ask yourself why?
I looked at Chinese wall decor products priced below my cost of the cardboard carton to ship them in. The “owner” of the company was driven to work in a Rolls Royce. The factory was clean, but the workers were not efficiently organized, so their prices in no way reflected their material and labor costs; they were set to capture market share.
Period.
Who was paying for this? It surely wasn’t the “owner”. This was a predatory scheme to destroy our domestic industry, paid for by the Communist Party.
In industry after industry this pattern enabled the Communists to undermine our economy, individual company by individual company.
The Communists didn’t capture our markets through superior design or quality, or value, but by stealing our patents and copyrights to produce our own products in their factories.
Only too late did our leaders respond, after community after community was hollowed out, as if the Communists dropped a neutron bomb on us.
The comments below this one were written by folk more eloquent than I. But the issue of tariffs is more nuanced than they realize. Let's take clothing and shoes. In Bangladesh, Vietnam & similar countries, hellhole sweatshops are owned by oligarchs to whom peasants are an expendable, inexhaustible resource. Wages under $2/day, constant threat of non-payment, of job loss, and physical abuse are just the beginning. Shoddily-built multiple-story factories collapse frequently, killing & maiming employees...This is NOT an ECONOMIC problem! It IS a HUMANITARIAN problem. American consumers like to buy their $129 LLBean Duck Boot knockoffs for $50, unaware of the misery involved in their creation. Targeted tariffs to stifle the sales of these items would go a long way toward reducing human misery.
It takes an advanced degree in economics to misunderstand it. That is a very good line. In our every day dealings of buying and selling, We the people do not need this degree. It is as You say win- win or win- lose.. Thanks for the comedy. I think it was Adam Smith who also said that one country should only trade with another . Not be involved in their politics. Simple and factual to Me.
I agree free trade is the way to go, however what are we trading? We are trading dollars for merchandise to the tune of 50 bn a month. We just print them up no problem. We need to balance the trading that is what comes in must equal what goes out, no money involved.
Except for a slight payment difference. This is the dilemma, China holds depending on who's view, somewhere between $1T - $1.5T in US Treasuries, never mind the trillions outside the US in foreign jurisdictions; $20T, $30T, $50T? China didn t win, can't win hence their internal problems. The US government did. What if, all those "dollars" baked by gold come home to roost?.
I always wonder how people can think paying more for lower-quality goods is a benefit. But then I read that the average IQ in the US has slumped to 98, when it should be 100 across a population distribution, and I think I reached the answer: The US population really is losing intelligence.
Should not ignore the related impact of depreciation policies, regulatory policies, minimum wage policies, working age restrictions,etc on the ability to compete
I can see the writting on the wall, that a one currency economy is the next step, particularly digital. The question will remain, will it be a system of free trade or fair trade- goods profiting aristocrats or freedmen?
Although we have yet to see what does happen in November through January, the Kamala show would be a disaster generalized around the world. I can only think that Trump will eventually show a more nuanced approach than campaigning requirements allow. Vainly, perhaps, but there it is.
OK, I am an economist, and I agree free trade is the correct economic answer; nut, it is not always the correct geo-political answer. China has committed to dominating and controlling the US, and they are waging a "non-shooting war" against the US. Hence, we are in an economic, political and culture war with China, and we can not allow China to take advantage of our desire to have "cheap labor products"to win that war for the survival of our society. And we can not allow the World Economic Forum to impose China's political infrastructure on us. So, the economist in me has taken a back seat to my political commitment to the Constitutional Republic our Founders envisioned, and to the Bill of Rights that they ultimately also agreed to.
Liberty Trumps totalitarianism.
Having no trade restrictions is ideal. If we have no foreign policy adjustments then by default we adopt the foreign policy of our trading partners. For instance if they subsidize a industry then that is also our policy. This doesn't mean it's bad individually but if the result is the loss of a manufacturing base that degrades the economy overall then that should be considered and countered if deemed necessary.
Definitely not easy but it's only simple if everyone engages on the same terms. If everyone is free trade then it has a much better chance of working.
Agreed, but when the threat of war is upon us, we do not trade with a "shoot war enemy." so we can not trade with a geopolitical war enemy. If so, we feed the enemy war machine.
I've always believed the Flag -- not force of arms -- should follow trade. I've only recently appreciated that's what China is doing to us.
Politics in America only continues to go down hill and voters when asked who to blame can look in a mirror
I believe the damage our own China building corporation and government have committed are irreversible at this time, and the consequences are the current state of our once great Republic. I always questioned the reasoning behind the building of the largest communist nation on earth, but now fully understand it was more about the hatred of America and our motto of In “God we Trust”. The Joseph McCarthy purge of communism was legit, but only sent the anti-capitalist/American into the shadows, and they are now in the final stages of their success. Shame on us for falling for the lies and propaganda of these most evil people. In the end, we all deserve the government we have, and only have ourselves to blame…
All well and good Joel but there hasn't been free or fair trade anywhere in the world going on a century+ now and when it comes to trade with China they are going to cheat, lie and steal no matter what you do. Being a free trade advocate myself I would still favor a 200% tariff on everything coming out of China. They are not our friends and they are not so called "trading partner". They are an existential threat though and they vocalize that threat daily.
The good news is their economy is starting to crater and they have a demographic time bomb that's about to detonate. It can't happen too soon to suit me.
Yes, I am an America Firster, first, last, always and only.
Exactly Lee! Millions of us out there, just wondering when we are going to wake up as one🤔Thank you 🙏 🇺🇸
One of the greatest lines ever written: "the political class – from one end of the Americas to the other – is full of geniuses with patrician degrees and plebeian intellects."
All very idealistic and good in theory, but you aren't going to fare too well competing against slave labour and resource hoarding like China does, especially when your own population are forced into the "green energy" dream and environmental restrictions. Drive around and look at the closed factories and dead towns and ask yourself why?
I looked at Chinese wall decor products priced below my cost of the cardboard carton to ship them in. The “owner” of the company was driven to work in a Rolls Royce. The factory was clean, but the workers were not efficiently organized, so their prices in no way reflected their material and labor costs; they were set to capture market share.
Period.
Who was paying for this? It surely wasn’t the “owner”. This was a predatory scheme to destroy our domestic industry, paid for by the Communist Party.
In industry after industry this pattern enabled the Communists to undermine our economy, individual company by individual company.
The Communists didn’t capture our markets through superior design or quality, or value, but by stealing our patents and copyrights to produce our own products in their factories.
Only too late did our leaders respond, after community after community was hollowed out, as if the Communists dropped a neutron bomb on us.
So forget free trade; it doesn’t exist.
Fight back instead
Steve
The comments below this one were written by folk more eloquent than I. But the issue of tariffs is more nuanced than they realize. Let's take clothing and shoes. In Bangladesh, Vietnam & similar countries, hellhole sweatshops are owned by oligarchs to whom peasants are an expendable, inexhaustible resource. Wages under $2/day, constant threat of non-payment, of job loss, and physical abuse are just the beginning. Shoddily-built multiple-story factories collapse frequently, killing & maiming employees...This is NOT an ECONOMIC problem! It IS a HUMANITARIAN problem. American consumers like to buy their $129 LLBean Duck Boot knockoffs for $50, unaware of the misery involved in their creation. Targeted tariffs to stifle the sales of these items would go a long way toward reducing human misery.
"Peace, commerce and honest friendship with all nations, entangling alliances with none."
Thomas Jefferson
Taking it one step further, voluntary individual commerce and relations with all, elimination of coercive interference by all.
Hear, hear
It takes an advanced degree in economics to misunderstand it. That is a very good line. In our every day dealings of buying and selling, We the people do not need this degree. It is as You say win- win or win- lose.. Thanks for the comedy. I think it was Adam Smith who also said that one country should only trade with another . Not be involved in their politics. Simple and factual to Me.
I agree free trade is the way to go, however what are we trading? We are trading dollars for merchandise to the tune of 50 bn a month. We just print them up no problem. We need to balance the trading that is what comes in must equal what goes out, no money involved.
Except for a slight payment difference. This is the dilemma, China holds depending on who's view, somewhere between $1T - $1.5T in US Treasuries, never mind the trillions outside the US in foreign jurisdictions; $20T, $30T, $50T? China didn t win, can't win hence their internal problems. The US government did. What if, all those "dollars" baked by gold come home to roost?.
I always wonder how people can think paying more for lower-quality goods is a benefit. But then I read that the average IQ in the US has slumped to 98, when it should be 100 across a population distribution, and I think I reached the answer: The US population really is losing intelligence.
Perhaps they can buy some from china.
Should not ignore the related impact of depreciation policies, regulatory policies, minimum wage policies, working age restrictions,etc on the ability to compete
Ken Larson
I can see the writting on the wall, that a one currency economy is the next step, particularly digital. The question will remain, will it be a system of free trade or fair trade- goods profiting aristocrats or freedmen?
The games of the 2024 Presidential Election Olympics. Sort of sums it all up, without saying too much.
Although we have yet to see what does happen in November through January, the Kamala show would be a disaster generalized around the world. I can only think that Trump will eventually show a more nuanced approach than campaigning requirements allow. Vainly, perhaps, but there it is.