I think one important point left out is not free trade but fair trade. Free trade works well when the living standard and business costs are of the same magnitude. Canada-U.S. free trade would fit in this example. Both are industrialized nations with not too dissimilar business and living environments. The playing field is level. Introduce Mexico and problems erupt. Mexican policies on salaries (very low and a maximum wage for foreign owned companies), banning foriegn real estate ownership, lower standards, etc., leads to an imbalance. Same with China. Free trade, with a level playing field, works by expanding the size of the market. Unlevel free trade, like with China or Mexico causes problems with employment, trade imbalances, etc. For example, how many U.S. companies are shipping goods to Mexico for Mexican consumers? If Mexico could grow their economy, then their citizens could be consumers of U.S. goods rather than cheap producers of U.S. goods for export since the producers can't afford the very goods they produce.
Precisely right! Good post, IMHO.
More free trade dogma.
While FDR did a lot of damage to the US, do you really think the US is as socialized as Canada? Free trade with Canada subsidizes their socialist economy just like free trade with the rest of the world's socialist economies subsidizes them.
Unlevel free trade, like with China or Mexico causes problems with employment, trade imbalances, etc. For example, how many U.S. companies are shipping goods to Mexico for Mexican consumers?
This is a point most free traders like to ignore and illustrates that the US market is the market to be in for the dreaded American producers, too, not just enlightened foreign socialist countries.