Re:Ghana will no longer sell cocoa to Switzerland
by rsj_hn on Friday March 19, 2021 @08:33PM
(#26519633)
Yup. 40% of US corporate equity is owned by the foreign sector. We have sold off almost half our capital stock to foreigners in exchange for short run corporate profits and cheap foreign goods.
And any attempts to adopt a more nationalistic trade policy that promotes sovereignty are met with pretty brutal suppression from our internationalized corporate sector and their various handmaidens in the press and progressive politics -- which now has no loyalty to America at all.
And this is happening all over the world, but most prominently in the US as well as Southern Europe. Domestic political forces that hate the native population are collaborating with the domestic corporate sector to sell every piece of capital that isn't bolted down to overseas investors with cheap printing presses and a longer time horizon.
This is why it is prudent to lock up certain assets (land / long lived assets) to citizens of the country.
This is where china succeeded. You go in, you give up IP and share %, and they get a piece of the action.
Free trade benefits everyone for pennies. However, the makers / artisans (shoemakers, etc) always lose out big. So free trade is a net winner but creates very unbalanced losers. Ultimately there is an argument for compassion against free trade, which fits squarely with your arguments.