"Biological men in women’s sports," aka, back before the language was distorted, as men in women's sports. Great post. Love the tariffs and believe Trump is on the right track.
This has some excellent points. Importantly too, it really doesn’t *matter* if Trump intellectually understands all this or not. Rather, his base instincts are correct on it.
The reality is that trade deficits are matched by capital surpluses, but the beneficiaries of a capital surplus are not the same as those losing out from the trade deficit. This is what makes things unsustainable. What made sense thirty years ago do not today, the cycle of economics and power that we are in changes. Reagan was not totally right about free trade in the 1980s, but he had more room to be wrong then than the US has now.
I have nothing against globalisation and free-ish trade, but only when they exist to serve nations and not perpetuate itself for its own sake. “Free trade” was not some magic, permanent form of advanced humanity but just another useful tool in the right hands and right time.
It was fun for Reagan to envy the WTO free trade zone of Europe and to want to sell freely to others...
It was fun for Clinton to bring China to WTO (that is the second and main start of globalisation) and let it be the manufacturer for the whole world.
It was fun for Apple to make everything in China / SK / Vietnam and squeeze them and pay them peanuts and sell its products at 10 times the cost. Sure, it remunerated US design and intellectual property and elite management...It was also doubly convenient to get its share price inflated by those European and Middle Eastern and Asian capital investors...
It was fun for Tesla to produce in China and Germany and get its share price inflated by lunatics.
It is fun now to give "free" search and communication services to the world to to cash the majority of the global advertising revenue. A pity that EU does not think more about that and believes that "antitrust" or "regulation" is the answer...
It will be fun for you, America, when your AI will sweep the jobs of the "intellectual" class that you so hate. Or when China will do it for you, with new copied and improved instruments.
To be fair, in the 1980s it did make sense for the US to pursue these policies although it would also have needed to keep a lid on the financialisation of the economy while doing so. No country has achieved dominance by BOTH liberalising trade AND also not producing stuff. You can choose one or other.
People love hating on Trump ..trust the tariffs they work
"Biological men in women’s sports," aka, back before the language was distorted, as men in women's sports. Great post. Love the tariffs and believe Trump is on the right track.
This has some excellent points. Importantly too, it really doesn’t *matter* if Trump intellectually understands all this or not. Rather, his base instincts are correct on it.
The reality is that trade deficits are matched by capital surpluses, but the beneficiaries of a capital surplus are not the same as those losing out from the trade deficit. This is what makes things unsustainable. What made sense thirty years ago do not today, the cycle of economics and power that we are in changes. Reagan was not totally right about free trade in the 1980s, but he had more room to be wrong then than the US has now.
I have nothing against globalisation and free-ish trade, but only when they exist to serve nations and not perpetuate itself for its own sake. “Free trade” was not some magic, permanent form of advanced humanity but just another useful tool in the right hands and right time.
As a European, I say: Oh, you, America :).
It was fun for Reagan to envy the WTO free trade zone of Europe and to want to sell freely to others...
It was fun for Clinton to bring China to WTO (that is the second and main start of globalisation) and let it be the manufacturer for the whole world.
It was fun for Apple to make everything in China / SK / Vietnam and squeeze them and pay them peanuts and sell its products at 10 times the cost. Sure, it remunerated US design and intellectual property and elite management...It was also doubly convenient to get its share price inflated by those European and Middle Eastern and Asian capital investors...
It was fun for Tesla to produce in China and Germany and get its share price inflated by lunatics.
It is fun now to give "free" search and communication services to the world to to cash the majority of the global advertising revenue. A pity that EU does not think more about that and believes that "antitrust" or "regulation" is the answer...
It will be fun for you, America, when your AI will sweep the jobs of the "intellectual" class that you so hate. Or when China will do it for you, with new copied and improved instruments.
See you on the other side :)
To be fair, in the 1980s it did make sense for the US to pursue these policies although it would also have needed to keep a lid on the financialisation of the economy while doing so. No country has achieved dominance by BOTH liberalising trade AND also not producing stuff. You can choose one or other.