After adding up the expensive externalities and the social cost, cheap stuff from China does not look as affordable as it does on the store shelf or the online cart.
The ongoing economic brinkmanship between China and the United States is hurting all parties involved, yet no one is happy with the status quo.
The trade war between China and the United States isn’t a conflict that will remain confined to the economy. It’s a risky play in a new Cold War.
A game where only one side plays by the rules is rigged. We have now locked ourselves in an embrace with a corrupt regime, and it has not been to our benefit economically or morally.
Tiananmen was in 1989, when America had embraced the People’s Republic with the belief that economic liberalization would lead to political liberalization.
China has enough bargaining chips to cement its spot as export king of the developing world. Trump must be strategic in trade negotiations with Xi Jinping.
Sheltering inefficient work—like Sam’s bread business—prevents workers like Sam from finding and developing a skill set that the economy needs.
Daniel Griswold joined Federalist Radio Hour to talk trade policy and it’s impact on the global economy.
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