4 ms·
> That's probably why. Pretty much the entire media participated in the narrative that it was Trump that started the trade war - both in the US, and here in Eu
by deogeo 7y ago
> That's probably why.
Pretty much the entire media participated in the narrative that it was Trump that started the trade war - both in the US, and here in Europe. That's what I was referring to, not Chinese media.
> Mercantilist policies hurt the local economy as much as they hurt foreign economies.
So economists keep repeating. Yet China doesn't seem to have been hurt by their mercantilism. Because yes, in the short term, tariffs hurt, but they let local industry develop without being crushed by foreign competition. In fact, " ... none of the world's most successful trading regions, including Japan, Korea, Taiwan, and now mainland China, reached their current status by adopting neoliberal trading rules." [1]. But economic consensus remains untainted by contact with reality.
[1] https://en.wikipedia.org/wiki/Comparative_advantage#Criticism https://en.wikipedia.org/wiki/Comparative_advantage#Criticis...