S. Korea has a population density of 1257 people per square mile, compared to America’s 83 per square mile. It is almost four times as densely populated as China and 50% more densely populated than Japan. As predicted by the theory presented in Five Short Blasts, free trade with such a country will be a sure-fire loser.
I’m neutral regarding free trade with Panama and Columbia. They are slightly more densely populated than the U.S. – between 100 and 110 people per square mile. These countries are no threat to American workers.
“Tom Donahue, president of the U.S. Chamber of Commerce, told reporters earlier in the week that business will work to get approval of the agreements, rejecting suggestions of any type of trade moratorium. ‘We are the largest exporting nation in the world,’ Donahue said. ‘The suggestion that we back off trade agreements, trade expansion, is to suggest that we stop providing opportunities for American workers and American communities to participate in the global economy.’”
This is a common tactic used by blind traders. They focus only on exports. He ignores the fact that we are also the biggest importing nation in the world, importing much more than we export. The net result is a huge subtraction from our GDP and a huge loss of jobs. He speaks of our trade policy as an “opportunity” for American workers and American communities. It is, in fact, just the opposite. It has paved the road to our bankruptcy.