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Monday, November 22, 2010

Told Ya

Free Trade does not actually exist. It is a chimera, a phantom, something from the make-believe world. Other countries find ways to protect their markets.

I keep saying that. And people--at least the people who have a clue what "free trade" means--just look at me (metaphorically speaking--they're seldom physically present) like I have a horn growing out of my head.
Now, with U.S. political, military, industrial and strategic decline vis a vis China manifest to the world, we hear the wails of American businessmen that they are not being treated fairly by the Chinese. And the politicians responsible for building up China are now talking tough about confronting and containing China.

Sorry, but that cat cannot be walked back.

Review commission chair Dan Slane says his members have concluded that "China is adopting a highly discriminatory policy of favoring domestic producers over foreign manufacturers. Under the guise of fostering 'indigenous innovation' ... the government of China appears determined to exclude foreigners from bidding on government contracts at the central, provincial and local levels."

Imagine that! The Chinese are ignoring WTO rules and putting China first. Don't they understand how the Global Economy works? You're not supposed to tilt the field in favor of the home team.

One knows not whether to laugh or cry.

The policy the Chinese are pursuing, economic nationalism, was virtually invented by the Republican Party. Protectionism was the declared policy of the GOP from the day its first president took office in 1861 to the day Calvin Coolidge left in 1929.

Free trade was the policy of a Great Britain whose clocks those generations of Americans cleaned, even as the Chinese are cleaning ours.
The quote is from Pat Buchanan--and about all I have to say is, "Told ya so."

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