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Having money doesn't mean that trade embargoes or tariffs won't hurt a country at the margin. The goods that are available to them to buy with that money throug
by jacoblyles 16y ago
Having money doesn't mean that trade embargoes or tariffs won't hurt a country at the margin. The goods that are available to them to buy with that money through international trade will decline in number, which is a clear loss. You can't live on oil alone.
- riffraff 16y agowell, you may not be able to live on oil alone, but the oil funded norwegian sovereign fund already owns 1% of the global equity markets and are heading for 2% of the european stock markets (with the oil still being pumped out). Moreover, an embargo is only effective if it can be enforced, there is nothing stopping chinese goods going from other european countries, they would only have a bit higher overhead.