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Tit-for-tat has been found to be the most effective strategy in prisoner dilemma type situations. If China lets us into their markets then we will let them into
by njarboe 6y ago
Tit-for-tat has been found to be the most effective strategy in prisoner dilemma type situations. If China lets us into their markets then we will let them into ours. This was the whole point of letting China join the WTO, but China has completely ignored any rulings against it by the WTO courts. It not playing fairly. These individual trade sanctions by the US are the only way to make China keep up its end of the deal.
- woopwoop 6y agoTrade is basically the opposite of a prisoner's dilemma, though. Cooperation dominates defection.
- njarboe 6y agoI think the main idea in the prisoner's dilemma is that in the defect/no defect case the defector has great gains and the non-defector has great losses. Who gains and who loses is the key and that is what China has been doing to the West since entering the WTO in 2001. Tit-for-tat quickly eliminates the gains for the defector.
- baddox 6y agoThis doesn’t seem like a prisoner dilemma though, because I think there’s a good argument that the US is better off cooperating (allowing Tik Tok) than defecting regardless of China’s actions.