I agree with what you’ve said but isn’t there a genuine grievance? I mean how much longer can the world sustain Western economies with chronic trade deficits, & China with a huge surplus? And isn’t it fair to suggest that a lot of global trade infrastructure was built by the US? Michael Pettis suggests capital inflow taxes but an alternative is to charge an ‘infrastructure tax’ for using these systems. Of course this will hasten the development of alternative trade infrastructure but that would be good for the US in the long run.
The problem with Trump is he thinks he can have his cake & eat it. Like many emperors before him. But I’m not sure we should be cheering the defeat of his policies. Surely the world needs the US to be healthy, prosperous, stable & able to provide for its people? The trade deficit is a real problem & even though tariffs are a circular firing squad for a net importer, the underlying issue hasn’t gone away? We have a global system without global rules funded by a monetary pump.
I agree with what you’ve said but isn’t there a genuine grievance? I mean how much longer can the world sustain Western economies with chronic trade deficits, & China with a huge surplus? And isn’t it fair to suggest that a lot of global trade infrastructure was built by the US? Michael Pettis suggests capital inflow taxes but an alternative is to charge an ‘infrastructure tax’ for using these systems. Of course this will hasten the development of alternative trade infrastructure but that would be good for the US in the long run.
The problem with Trump is he thinks he can have his cake & eat it. Like many emperors before him. But I’m not sure we should be cheering the defeat of his policies. Surely the world needs the US to be healthy, prosperous, stable & able to provide for its people? The trade deficit is a real problem & even though tariffs are a circular firing squad for a net importer, the underlying issue hasn’t gone away? We have a global system without global rules funded by a monetary pump.