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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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New York Times - How Democrats Hurt Jobs
"Ed Huntress" wrote:
John Carroll has some thoughts on countertrade. My own thought is that it's another example of the trap you get yourself into when you try to be the leader on promoting "free" trade, when world trade is anything but. I agree with you, I believe that the 'free trade' agenda needs to be turned into a fair trade agenda. If another countries environmental and worker safety rules do not line up with ours then a tariff should be imposed. Now placing a cost for our regulations in calculating the tariffs, that could contentious, I'm not sure if policy makers would want to actually cost out our regulations. I believe we have been getting rolled for years. Consider South Korea and how they change their regulations to keep American cars out of their country for an example. Wes |
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New York Times - How Democrats Hurt Jobs
"Wes" wrote in message ... "Ed Huntress" wrote: John Carroll has some thoughts on countertrade. My own thought is that it's another example of the trap you get yourself into when you try to be the leader on promoting "free" trade, when world trade is anything but. I agree with you, I believe that the 'free trade' agenda needs to be turned into a fair trade agenda. If another countries environmental and worker safety rules do not line up with ours then a tariff should be imposed. Now placing a cost for our regulations in calculating the tariffs, that could contentious, I'm not sure if policy makers would want to actually cost out our regulations. I believe we have been getting rolled for years. Consider South Korea and how they change their regulations to keep American cars out of their country for an example. Wes That's all true. What's not clear is the consequences of getting tough with trade. John and I discuss this in e-mail frequently; I continue to base my thoughts on the research I did for my China trade articles that I was writing in the early part of the last decade. But I think the principles remain pretty much the same even now. The short version is that nearly every country's natural tendency is toward protectionism, and protectionism results in a decline in economic activity for all trading partners involved. I'm not going to defend or explain this point; it's Economics 101 and it's agreed among legitimate economists of the right and left. It's easy to look up good, expert explanations of it. The US has used its economic strength and authority for decades to promote freer trade, with outstanding success. If we started imposing non-tariff barriers we'd start a trade war. Tariffs would require dissolving the WTO, and also would start a trade war. That's what happened in the 1930s, and the result was a world-wide depression. Widespread protectionism would absolutely crush levels of employment all over the world, not the least in the US. As for what can be done about it, it's a very big and complicated question. So is the question of whether we're better off doing nothing about it. Like the issue of thinking about the US debt in terms of home economics, the simple "common sense" solutions basically make no sense at all, once you start looking into it thoroughly. So don't jump to conclusions. There are no simple answers. -- Ed Huntress |
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