Four reasons Chinese officials aren't buying Trump's trade threats
Published on April 10, 2018 at 02:16PM by Lawrence H. Summers, The Washington Post
As the possibility of a trade war looms between the United States and China, economic logic and truth appear to be an early casualty. There are certain points on which there should be no disagreement. First, globalization and trade have caused significant disruption to the U.S. economy, but this has had little to do with the trade agreements of the past generation. It is now clear that increased imports, especially from China, have inflicted substantial burdens on manufacturing workers, particularly in theMidwest. Too much conventional analysis goes wrong in attributing this to trade agreements and in failing to recognize offsetting job gains from exports. The reality is that the U.S.
Published on April 10, 2018 at 02:16PM by Lawrence H. Summers, The Washington Post
As the possibility of a trade war looms between the United States and China, economic logic and truth appear to be an early casualty. There are certain points on which there should be no disagreement. First, globalization and trade have caused significant disruption to the U.S. economy, but this has had little to do with the trade agreements of the past generation. It is now clear that increased imports, especially from China, have inflicted substantial burdens on manufacturing workers, particularly in theMidwest. Too much conventional analysis goes wrong in attributing this to trade agreements and in failing to recognize offsetting job gains from exports. The reality is that the U.S.
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