Another Wonky Economic Opinion Tribune Columnist?
In a previous post King Solomon, Chapman’s Lecture on Tariffs, I challenged Chapman to explain the other side of the story about the harmful effects to a nation of unbalance trade.
Today, another columnist in their Perspective Column wrote an article which contained this statement.
“Rather than wade into a wonky discussion of how trade deficits aren’t the bogeyman there made out to be, I’d like to come at this a different way.”
Statism
He then came up with a term “statism.” The following definition perfectly describes China mode of government.
“A political system in which the state has substantial centralized control over social and economic affairs.”
In Other Words
In other words, the main reason why China has accumulate trillions of USA dollars to improve their advanced infrastructure in comparison to the USA deteriorating infrastructure ever since the USA trade agreements allowed China to accumulate trillions of USA dollars.
Another way of saying, how the USA, in exchange for low priced electronic gadgets, like cell phones, TVs, and appliances, solar panels, toys, etc. etc. made by laborers paid $200 a month can produce and ship products cheaper than USA workers who have to pay $800 a month in rent alone.
This allows trade partners to have the dollars to buy up USA farmland, businesses, and real assets which I compare to how Americans first settlers used wampum to buy Manhattan Island from American Indians. Compare how that purchase has multiplied in value to wampum beads. (US dollars)
King Solomon
Do you see someone skilled in their work? They will serve before kings; they will not serve before officials of low rank. (Proverb 22:29)
In My Opinion
I have provided an information source of the Pros and Cons of Unbalanced Trade to anyone interested to the wonky explanation. Also, the previous post with comments to expand the expalanations.
Note that the final sentence appears to be exactly what President Trump is negotiating foreign Corporations to do to balance trade by negotiating them to use American workers work and keep USA dollars in the USA to rebuild USA infrastructure and wealth.
You Decide
Do you believe Congress should have followed Warren Buffet’s advice in 2003 instead of the now proven failed outdated globalism economic theories of the Chicago Tribune columnists?
Should the Chicago Tribune hire columnists to explain both sides of their opinion?
If you were a worker who lost their livelihood and standard of living, would you consider Unbalanced trade to be Wonky?
Why is it that our two NAFTA trade partners have laws to prevent foreign entities to buy farmland in Canada or Mexico?
Do you agree with President Trump using the same statism techniques that our trade partners use to maintain favorable trade balances?
Do you agree with President Trump’s statements that USA trade negotiators were skilled enough to make wise or wonky trade agreements for US workers and the ecconomic security for the future of the USA?
Regards and goodwill blogging.
Source Links
Warren Buffet’s November 3, 2003 Advice to Congress
Pros and Cons of Unbalanced Trade
Previous Post
Chicago Tribune
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