More Band-Aids for Trade Policy Arterial Bleed

http://www.reuters.com/article/idUSTRE67P0M620100826

The above-linked Reuters article details yet another in the long-running series of “get tough” trade initiatives that are designed more to create the impression of doing something about our trade imbalance and less about doing anything substantive about it. 

I don’t need to go on.  The first comment at the end of the article is mine and pretty much says it all.

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2 Responses to More Band-Aids for Trade Policy Arterial Bleed

  1. Peteopolis says:

    Probably a warning shot to the Chinese peasant factory worker that he/she is getting a little too uppity in demanding wage increases. Slaves in Vietnam and Bangledesh are a calling.

    But your message is confused as to ownership. China may be an industrial powerhouse but the factory workers are not the owners, and they are being payed very poorly indeed. So Jobs != Wealth in the Global Economy. If you want wealth go to the top ranked Finance and Research Universities: Harvard and MIT,
    Peking and Tsinghua. Chinese or American peasants need not apply.

    • Pete Murphy says:

      Randy, I’ve re-read Mike’s comment several times and can’t find where he raises the issue of “ownership.” So I don’t understand how his comment “is confused as to ownership.” Don’t forget that the multi-national companies at work in China are, almost without exception, publicly owned and traded companies. Thus, all of us are owners if we invest in the stock market, even if it’s in index funds. The problem isn’t the ownership of these companies; rather, it’s the lack of boundaries – especially trade policy boundaries – that lies at the root of the problem.

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