You're assuming too much and, along with others here, acting like you've been hurt. "Free trade" is the mantra of Western economists and politicians since the time of Adam Smith, and it's been a ruse since then too. Read him.
> When China cannot compete with incumbents those protections also go up.
They do, but not in the erratic manner, levels or timing we're observing here. China is a party of the WTO and they haven't broken any of its agreements, nor have they used any of its emergency clauses.
> You are being overly charitable to one side here. Which is it? Free trade or Protectionism?
It's not either/or. I can tell you a third option that is worse than both of these - it's jumping from one to the other and back in an erratic manner as we are doing it now.
I could tell you something that's better than all of these too but I won't do it. I've been talking about it for many years, primarily as an alternative to free trade and I'm amazed that at this time, nobody seems to be aware of it.
Like, what's the point of pointing out obvious truths over and over again with the same (lack of) result.
>Adam Smith, and it's been a ruse since then too. Read him.
You should read Keynes as the primary opposing side to US during Bretton Woods, with strong support from most bankers at the time. The WTO has no answer to structural imbalances nor was ever intended to resolve such a matter.
The status quo you support is not grounded in economic literature than it is a incoherent mess that was created through political circumstances. Under a truly multilateral system of the ICU, China would have been severely disciplined years ago for its distortionary surplus actions.
> Under a truly multilateral system of the ICU, China would have been severely disciplined years ago for its distortionary surplus actions.
Don't blame China for this, they provided what they were asked to provide, blame those who "failed to discipline them years ago". Go to the beginning of this thread where I pointed out who tried to stop the trend.
> The status quo you support is not grounded in economic literature than it is a incoherent mess that was created through political circumstances.
The status quo is what reality is today. Punishing China has nothing to do with advancing the US economy, much less when it boils down to erratic tariffs motivated by speculation and crony business relations.
> The status quo you support is not grounded in economic literature than it is a incoherent mess that was created through political circumstances.
This is so rich that I have to correct it again, the hard way:
The economic literature is an incoherent mess that was created through political circumstances.
>Don't blame China for this, they provided what they were asked to provide, blame those who "failed to discipline them years ago"
The fact that you are referencing "they" means you don't actually know how the ICU and the Bancor works do you? Or any of Keynes' larger arguments regarding global macroeconomic stability.
You're assuming too much and, along with others here, acting like you've been hurt. "Free trade" is the mantra of Western economists and politicians since the time of Adam Smith, and it's been a ruse since then too. Read him.
> When China cannot compete with incumbents those protections also go up.
They do, but not in the erratic manner, levels or timing we're observing here. China is a party of the WTO and they haven't broken any of its agreements, nor have they used any of its emergency clauses.
> You are being overly charitable to one side here. Which is it? Free trade or Protectionism?
It's not either/or. I can tell you a third option that is worse than both of these - it's jumping from one to the other and back in an erratic manner as we are doing it now.
I could tell you something that's better than all of these too but I won't do it. I've been talking about it for many years, primarily as an alternative to free trade and I'm amazed that at this time, nobody seems to be aware of it. Like, what's the point of pointing out obvious truths over and over again with the same (lack of) result.