View Full Version : The Free-Trade Paradox

May 20th, 2008, 08:46 AM
The Free-Trade Paradox

All the acrimony in the primary race between Barack Obama and Hillary Clinton has disguised the fact that on most issues they’re not too far apart. That’s especially the case when it comes to free trade, which both Obama and Clinton have lambasted over the past few months. At times, the campaign has looked like a contest over who hates free trade more: Obama has argued that free-trade agreements like NAFTA are bought and paid for by special interests, while Clinton has emphasized the need to “stand up” to countries like China. Two weeks ago, both senators signed on as sponsors of a new bill that would effectively impose higher tariffs on China if it doesn’t revalue its currency. The candidates are trying to win the favor of unions and blue-collar voters in states like Ohio and West Virginia, of course, but their positions also reflect a widespread belief that free trade with developing countries, and with China in particular, is a kind of scam perpetrated by the wealthy, who reap the benefits while ordinary Americans bear the cost.

From here (http://www.newyorker.com/talk/financial/2008/05/26/080526ta_talk_surowiecki).

May 21st, 2008, 12:08 AM
If one of them wins the presidency and carries through on these promises, you can expect to see more jobs lost and higher prices at the local stores.

Free trade ALWAYS benefits both parties. That's why it's FREE trade...as in, no one's forcing it on you. If both parties weren't beneifitting, the one that was losing would stop trading, on their own, without government involvement. We have such a big trade deficiet with China because consumers LOVE Chinese goods.

China's worked very hard to become an economic leader in the 21st century, while the US has basically sat on the laurels created by WWII. Myabe if we had the same drive and determination, we'd be creating new jobs instead of bitching about the manufacturing that's leaving the country.

May 21st, 2008, 12:55 AM
LOL. Troof.

If China ever tossed out the Communists, you'd see them becoming the economic superpower of the world.

May 21st, 2008, 08:07 AM
LOL. Troof.

If China ever tossed out the Communists, you'd see them becoming the economic superpower of the world.

They are becoming the economic superpower of the world. Mostly because their style of government allows them to implement whatever economic policy they want without having to answer to the people in dying industries for it.