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Free trade works so long as you are the economic hegemon. After the Napoleonic Wars, Britain was the strongest economic power and championed free trade until th
by Merrill 7y ago
Free trade works so long as you are the economic hegemon. After the Napoleonic Wars, Britain was the strongest economic power and championed free trade until the 1870s. Then German and French manufacturing, US and Argentinian agriculture competed favorably with British manufacturers and landowners and free trade was not so popular in the run up to WW I.
Similarly, after WW II, the US was dominant and free trade served us well. However, as other nations develop their competitive advantages, free trade is not so popular in the US.
- gurumeditations 7y agoIf that were true, the US would treat Europe as even bigger an enemy than China.
- Merrill 7y agoThe U.S. goods and services trade deficit with the EU was $109 billion in 2018. The U.S. goods and services trade deficit with China was $378.6 billion in 2018.
- Faark 7y agoThe US certainly has little interest on a strong united EU. But there are a lot more factors at play. Like having military bases there. And generally a lot more soft power / cultural influence. Still, do you remember the US announcing tariffs on car imports?
- boomboomsubban 7y agoThe US has used groups like NATO and the G7 to ensure that no European power would challenge US hegemony.
- sangnoir 7y agoThe UK has long[1] been seen as the America's cat's paw/poodle in the EU[2] - which is why some in the EU are of the idea that Brexit's silver lining is the end of British obstructionism. 1. https://www.independent.co.uk/news/is-the-prime-minister-a-partner-or-a-poodle-1193543.html https://www.independent.co.uk/news/is-the-prime-minister-a-p... 2. https://www.economist.com/bagehots-notebook/2010/07/23/britain-americas-trojan-poodle-in-europe https://www.economist.com/bagehots-notebook/2010/07/23/brita...