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Free Trade and Tariffs – Is Anyone Thinking?
I get really annoyed when I hear people describe the imposition of trade tariffs as protectionist. Of course in an atmosphere where the bumper sticker mentality seems to play a dominant role, this is often accepted as gospel. Trade tariffs can be protectionist as much as they can be otherwise.
Why is China So Important to the US Economy?China has rapidly increased in economic importance. It is particularly important to the United States’ economy for two reasons: China is a source of low-cost manufactured goods, and it is now the biggest holder of U.S. government debt. Twenty years ago, many people believed that the economic preeminence of the United States would be eclipsed by Japan, while China was an economic backwater. How things have changed.
