Re:Singapore Urges U.S. to Accept China's Rise, Spare Other ...
by coldtea on Thursday May 16, 2019 @07:59AM
(#19928114)
>The infant industry argument is controversial, but assuming for a second it is correct, how is that related to the discussion about what course the US should take towards China right now? The US does not need industry protection. The US is the most advanced country on the planet.
The US "is the most advanced country on the planet" because it constantly uses "industry protection". Besides tariffs and subsidies, the whole power of the US state and military is constantly used to further US trade and resource interests, enforce favorable trade rules, ignore this or that treaty that doesn't benefit the US industry (e.g. environment or child labor laws), and so on.
>When the US administration gets into a tradewar that makes Chinese commodities more expensive and stops American farmers from selling soybeans, how exactly is this to the benefit of anyone?
For one, it's of benefit of those making (and/or) selling commodities of their own.
Heck, even American workers, who might have to pay more for Chinese-made commodities, but they also get jobs again to make similar commodities in the US. A paycheck + more expensive goods trumps being unemployed + the availability of cheapo Chinese goods.
The US "is the most advanced country on the planet" because it constantly uses "industry protection". Besides tariffs and subsidies, the whole power of the US state and military is constantly used to further US trade and resource interests, enforce favorable trade rules, ignore this or that treaty that doesn't benefit the US industry (e.g. environment or child labor laws), and so on.
>When the US administration gets into a tradewar that makes Chinese commodities more expensive and stops American farmers from selling soybeans, how exactly is this to the benefit of anyone?
For one, it's of benefit of those making (and/or) selling commodities of their own.
Heck, even American workers, who might have to pay more for Chinese-made commodities, but they also get jobs again to make similar commodities in the US. A paycheck + more expensive goods trumps being unemployed + the availability of cheapo Chinese goods.