Earlier quoted context omitted.
> On the economics issue though, readers should know he disagrees with economists, who nearly universally agree that trade with China benefits Americans as a whole, with the caveat that there are concentrated losses in certain populations. The thing is: economists are hardly unbiased and neutral. Their theories are far from scientific truth, and typically embed significant political content. For instance: "benefit" c…
If it wasn’t China, the US would be importing goods from elsewhere. It’s unlikely the response to not China will be America. There are reasons to believe the US should still do not China even if it means Bangladesh or Vietnam (in fact, this is exactly what the TPP was supposed to have achieved, and would have better protected worker rights as well as IP...but I guess that wasn’t blunt enough for America). The US is w…
Other places don't cheat with market access or steal IP anywhere as much as China. Any economic rebalancing would have been far more gradual.
"What the US hasn’t done, is spread the benefits of trade internally. The US economic problems stem from whatever led to a small percentage of the economy pocketing the vast gains."
You mean policies such as open trade with China, which was inherently biased towards profits to the top, given the way offshoring worked?
This does not mean there weren't other factors at work, rather that China trade was one policy in an array of policies with a similar outcome.
"But it’s always easier to blame Johnny Foreigner and people have been doing it for millennia, so there’s no reason to believe the US would be immune from it. "
My country profited from the US's Free Trade advocacy, and I still think the US's China policy was either insane or driven by elite concerns. It's one thing to have free trade, another to have one-way free trade with a country that cheated so openly, and is now a superpower competitor.