burrrton wrote:No, and he explains why if you'd do more listening and reading rather than regurgitating "BUT CHINA!" over and over.
It's not just just China. There is a very real attempt enabled by these lopsided trade agreements to take advantage of low cost, exploited labor in poor nations run by dictatorial or corrupt regimes that are overlooked or brushed aside by economists like Friedman concerned only with theory and less with application. I've listened quite a bit to Friedman and taken economics myself.
When economic analysis is done, it is often done with numbers only as I told you, without accounting for the moral and legal situations of other nations, which must be accounted for. To put it simply, America cannot go on dollars and cents and theoretical assumptions only when analyzing a competitive market, it must look at what is being done within that market to maintain a competitive advantage. Then it must ask, "Do I want my people subject to this?"
To put it simply and use a nation other than China, if Mexico must allow it's people to live in shacks and eat beans and rice to maintain it's competitive advantage in labor costs, do I want Americans to have to live in shacks and eat beans and rice to compete with them? That is a question economics (the base science) does not ask or answer or care that much about. This is coming from someone that studies economics.
Please do not interpret that as hating capitalism, which I do not. I am pointing out problems in capitalism that must be addressed in free trade and general markets as standard of living is an important idea to most Americans and should be more the focus of discussion than wealth inequality which is a nebulous and impossible to define numerical fantasy.
2. Your definition of "informed" is "agrees with me".
Not true. I merely want you to state that we have been in a trade war for a while with many nations. You pretending this trade war just started because of tariffs just imposed show a lack of keeping up with current economic policy on a global scale. Then you pull out Friedman, while not at all paying attention to the global environment for trade? Really, that's the problem with so many economists like Friedman. So much theory, so little application or analysis of the current world environment. Theory is great if everyone conforms to its parameters, but they aren't. So we need to analyze how to best implement policy in the face of a trade that is not free.
Now is a good time to make clear I acknowledge there are gray areas in complex matters like global trade, so I'm not an absolutist- it just seems clear that Trump knows nothing of those gray areas and instead looks at every dollar going to another country as a 'loss' to the US, which is a positively infantile assessment IMO.
What Trump says to the public and what Trump does in private are going to be different like it is with every president. You have been watching this game long enough to know this. Which is why I say let us see what happens in the final deals. You can say a lot of things about Trump, but as near as I can tell he's always been a great negotiator/salesman. This is him playing hardball to get us better deals, like he's always done with his companies. Sales/negotiation is one area I don't have a problem with Trump. He's not a well-spoken lawyer or a by the numbers academic. He's a down and dirty salesman that will use hardcore negotiation tactics to obtain the best possible deal he can. Most of the politicians are unaccustomed to dealing with that, especially from America. We'll see how good the deals are when they're done. Right now I'm watching a salesman work and knowing that none of these tariffs or the like are final.