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Informative comment. I would add that government subsidies for industrial production from China and for agricultural production from the US both distort the gl
by someguydave 10y ago
Informative comment. I would add that government subsidies for industrial production from China and for agricultural production from the US both distort the global economy.
The simplistic textbook economics case for "free trade" simply doesn't exist in the real world because the underlying assumptions do not hold.
- mjolk 10y agoOf course, for what it's worth, I wrote my response with those factors (subsidies, no such thing as actual "free trade") in mind. However, the USA's role in food security for countries that rely on globalist trade structures cannot be overstated -- for the example of China, in the absence of very significant new trade agreements, the US could demand higher prices for its food exports, as their alternative would be reverting to far less profitable industries.