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To: semimojo
We've been running a 50 year long experiment regarding what happens when a wealthy, high wage, regulated and taxed economy opens up to "free trade" with ruthless mercantilist powers in East Asia.

Fairly conclusive proof that "free trade" in this way is an unmitigated disaster for the US, with a tremendous loss of income growth, terrible technology transfer, growing income and political instability, a horrendous loss of comparative economic and military advantage, and the creation of a domestic class of wannabee oligarchs.

And no, a cheaper TV set is not adequate compensation.

75 posted on 02/19/2022 4:45:31 PM PST by pierrem15 ("Massacrez-les, car le seigneur connait les siens" )
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To: pierrem15
Fairly conclusive proof that "free trade" in this way is an unmitigated disaster for the US...

I'm not sure the hundreds of millions of Americans who have saved huge amounts of money buying Asian cars, clothes, electronics, etc., etc. etc. would agree with you.

There's no question those products have helped raise our standard of living.

76 posted on 02/19/2022 4:53:36 PM PST by semimojo
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