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Keeping our markets open is the American way and it's how the US became the preeminent trading nation and the cornerstone and chief architect of the global econ

Keeping our markets open is the American way and it's how the US became the preeminent trading nation and the cornerstone and chief architect of the global economic system. The US always pushes hard for other nations to open their markets as well (for better or worse), but it also leads by example.

cma 4y ago
A different take: https://www.amazon.com/Kicking-Away-Ladder-Development-Perspective/dp/1843310279 https://www.amazon.com/Kicking-Away-Ladder-Development-Persp...
- chaostheory 4y ago
  It’s a bad argument when China has blocked most foreign companies from entering its domestic market. Why can’t we block their companies from operating in our market?
- standardUser 4y ago
  I don't think that is a totally different take. I don't buy the narrative that there was some conspiracy, I just think that business and political leaders in Western nations truly thought what they were doing was right, both for themselves and for developing nations. No conspiracy necessary when self-interest and arrogance explain it sufficiently. Haven't read the book though, so I don't know how conspiratorial their take actually is. The nations that best bucked the trend were the Eastern Asian nations that engaged in protectionist policies despite the desires of the West. Much like China continues to do today.
LarryMullins 4y ago
"America" in the abstract has benefited immensely from free trade, but the average American has not. Wealth inequality has never been worse.
- bitshiftfaced 4y ago
  Income and wealth inequality, but some studies have shown that consumption inequality hasn't changed much, and that the trend is the opposite when you look at leisure time inequality.
- blsapologist42 4y ago
  Probably >50% of consumer purchases are imported so it's hard to argue it doesn't benefit them. Imagine suddenly not having access to 50% of the things you buy (or at least having to pay substantially more).

cma 4y ago

A different take: https://www.amazon.com/Kicking-Away-Ladder-Development-Perspective/dp/1843310279 https://www.amazon.com/Kicking-Away-Ladder-Development-Persp...

chaostheory 4y ago
It’s a bad argument when China has blocked most foreign companies from entering its domestic market. Why can’t we block their companies from operating in our market?
standardUser 4y ago
I don't think that is a totally different take. I don't buy the narrative that there was some conspiracy, I just think that business and political leaders in Western nations truly thought what they were doing was right, both for themselves and for developing nations. No conspiracy necessary when self-interest and arrogance explain it sufficiently. Haven't read the book though, so I don't know how conspiratorial their take actually is. The nations that best bucked the trend were the Eastern Asian nations that engaged in protectionist policies despite the desires of the West. Much like China continues to do today.

LarryMullins 4y ago

"America" in the abstract has benefited immensely from free trade, but the average American has not. Wealth inequality has never been worse.

bitshiftfaced 4y ago
Income and wealth inequality, but some studies have shown that consumption inequality hasn't changed much, and that the trend is the opposite when you look at leisure time inequality.
blsapologist42 4y ago
Probably >50% of consumer purchases are imported so it's hard to argue it doesn't benefit them. Imagine suddenly not having access to 50% of the things you buy (or at least having to pay substantially more).