Actually, it's not nearly as massive as it was before the leftists took over Washington--
--but what, you want things like they were back in early '09?
Posted on 04/30/2013 6:18:19 PM PDT by expat_panama
For anybody disheartened about years of disappointing economic news, Japan's recent announcement that it intends to join the Trans-Pacific Partnership (TPP) offers a real reason to celebrate.
Free trade agreements (FTAs) historically are some of the most surefire ways to open up new markets to U.S. exporters while enhancing American interests abroad. They create economic growth by fostering innovation and efficiency and, as a bonus, they generally produce invaluable political benefits.
As FTAs go, Japan's participation in TPP makes this trade pact the Super Bowl and the World Cup of trade agreements wrapped into one. It's a game changer.
It will give American exporters increased access to Japan, a $5.4 trillion economy — the third largest in the world — and one with which the U.S. now has no FTA in place. TPP will eliminate tariff and nontariff barriers inside Japan, letting more U.S. industries export goods and services to Japan...
(SNIP)
TPP is moving forward — with or without Japan. But without Japan's participation, any benefits to the U.S. economy will be marginal, at best. Does anyone believe the status quo is preferable to an economy in which U.S. exporters are suddenly granted new market access to one of the largest economies in the world?
President Obama took a decidedly protectionist position when he campaigned against Sen. John McCain in 2008.
By bringing Japan into TPP and sealing this critical economic and strategic partnership, he has a valuable, once-in-a-lifetime opportunity to bring tangible benefits for U.S. industries while cementing his legacy as a free trader. It's an opportunity that should not go to waste.
(Excerpt) Read more at news.investors.com ...
Free trade would lead to a balancing of trade deficits. What you oppose is a government running trillions of dollars in deficits (China using the proceeds of their trade with us to then buy that government debt (they own approx $1 trillion).
There is no need to conflate them, as only one of them (our government's profligacy) is actually a problem.
Upon reading the USTR’s circulars and papers on the TPP, it’s more of the same BS that we’ve seen from the US on the issue of trade:
We drop our tariffs and standards and receive a paucity of concessions in return.
In this case, we’re going to phase out our tariffs on imports of Japanese vehicles, and in return, the Japanese will allow up to 5,000 of each US vehicle “type” to enter their country.
Yea, that sounds like “free trade.”
Do you remember where you saw this? Even if it were true, I'd be skeptical that this will affect Japan automaker plans much vis-a-vis US production. Whatever the rules in place, they can always be changed. Reagan pushed through voluntary export restraints, and he was the most free-market president we've had since Silent Cal. Besides, costs in Japan are prohibitive. Labor is about the same, but land, utilities and sundry items are prohibitively expensive. Shipping costs are a factor, since cars take up a lot of space and are pretty heavy.
Here:
http://www.ustr.gov/about-us/press-office/fact-sheets/2013/april/US-consultations-Japan
As with so many things done by the US Government, the frosting on top sounds really nice.
It’s only when you drill down into it you find you’re eating whipped cream spread over a turd.
China is now offshoring to, among others, Brazil now.
You think surrendering economic authority to NAFTA....and NAFTA Court ....along with surrendering trade and economic authority to the WTO and the WTO courts as “smaller government”?
I bet Harvard Business School taught you that one
None of the Alinsky-ite Free Traders still have yet to provide any evidence that Free Trade works. Come on...even noted Free Trade and NAFTA supporter Al Gore has had to said something proving Free Trade works...you know....like he has with Global Warming...
I’m so sick of the term “game changer”.
Anyway, it never ceases to amaze me how many freepers are protectionist. More paleocon nonsense like the 17th amendment repeal.
Don’t they know that
A)Tariffs are taxes and the cost is passed on to the consumer
B)They’re on the same side as big labor on this issue
Neither of which are a free trade problem.
1. Where do you shop?
2. Are you a retired Cook County Democrat?
He understands.....you of course do not and never will
http://www.ustr.gov/about-us/press-office/fact-sheets/2013/april/US-consultations-Japan
As with so many things done by the US Government, the frosting on top sounds really nice.
It’s only when you drill down into it you find you’re eating whipped cream spread over a turd.
Question for AmericanInTokyo, who might have some insight into these matters - are American cars in Japan more expensive than their Japanese counterparts? If so, by how much? My understanding is that Japanese non-tariff barriers, one of which requires a vehicle-by-vehicle inspection of all imported cars, adds thousands of dollars per vehicle that are billed to the importer, while adding a significant delay to market.
That may not be the whole story, but even if it were I don't agree that Japanese tax'n'spending/state control could possibly justify American tax'n'spending/state control.
Actually, it's not nearly as massive as it was before the leftists took over Washington--
--but what, you want things like they were back in early '09?
Well, that chart is certainly meaningful! I see that we are 4.6 points ahead of Greece and Greece is tied with Japan. That must mean that Greece is doing pretty good, eh?
Greek trade policies are pretty much consistent with its other macroeconomic policies that discourage free enterprise. Japan gets away with a closed market because the Japanese are hardcore - they work hard even when nobody's watching, and their products are protected against competition from imports, and this has worked for a number of sectors like automobiles and machine tools. Greece has tourism. Among other problematic policies, Greece has a cradle to grave welfare scheme that allows barbers (among other workers in "high stress occupations") to retire with a state-funded pension at age 50, along with an essentially unregulated financial system. Setting up a business in Greece involves huge amounts of red tape and overlapping sets of palms that have to be greased. The problems with the way the Greek economy is run are so numerous, it's amusing it took this long for the piper to come calling.
Sounds like a stupid policy that costs the Japanese a fortune. Something else that's crazy is the protectionist thinking that we should 'get even' with the Japanese by starting up those same idiotic policies in the US.
We shouldn’t even be using the term “trade deficit”. There’s no such thing.
Every trade is balanced. If someone wants to take my paper money in US dollars in trade for real items that trade is complete. No force was used in the voluntary transaction.
It’s absurd to talk about trade balances. Every trade is balanced.
“Of course. What does Steve Forbes know about business?”
probably how to game it.
Are you implying that unsuccessful businessmen are more worthy of our admiration than successful ones?
“And I drink Heineken to my heart’s content, which appears to bother you.”
lets just leave it at this. The above is about all I will agree with you on.
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