For someone who went to Wharton, Trump has an amazingly infantile understanding of how money works. The USD has been a powerhouse of global finance since WW2 because of globalization. And he just stabbed globalization in the back.
For someone who went to Wharton, Trump has an amazingly infantile understanding of how money works. The USD has been a powerhouse of global finance since WW2 because of globalization. And he just stabbed globalization in the back.
But did he go to Wharton, is that just where he got a certificate from? Can anything he has done be trusted... well, perhaps paying off Stormy Daniels. :D
I feel the EU should apply a lot of pressure on the US now. China will continue to I think.
Killing globalism is kind of the point.
Yet, they still want access to all the global money flows.
Killing globalism does not end international trade.
The main issue is realizing the limits of comparative advantage. The economic concept of comparative advantage is what is used to justify closing down domestic factories and opening up replacements in lower-cost countries.
Just because Japan can make cars more efficiently doesn't mean that they should make ALL cars. Globalism insists that capital should flow to where it is the cheapest to produce a good (outsourcing), with the implication that lower prices will offset the loss of wages. Clearly the evidence shows otherwise.
A healthier approach is for all nations to produce goods and exchange those goods, versus the globalist view of a few nations producing the majority of certain goods and exporting them to everybody else.