Posted on 05/04/2020 4:10:19 AM PDT by blam
One of the more worrying consequences of the coronavirus is that it looks likely to become a catalyst for deglobalisation.
At the centre of this will be the decoupling of the Chinese economy with developed economies and the US in particular. The world’s three largest free economies – the European Union, the United States and Japan – are all drawing up separate plans to lure their companies out of China.
European Union trade commissioner Phil Hogan has called on companies to consider moving away from China; US President Donald Trump’s top economic adviser Larry Kudlow has said the government should pay the costs of American firms moving manufacturing back from China onto US soil; and Tokyo has unveiled a US$2.2 billion fund to tempt Japanese manufacturers back to Japan or even to Southeast Asia.
Coronavirus: Can China overcome global mistrust to lead the fight against Covid-19
Meanwhile, bills are piling up in the US Congress aimed at reducing America’s reliance on Chinese supply chains and pushing for a decoupling of the world’s two largest economies.
While these are recent moves, the truth is the debate on globalisation – and deglobalisation – began more than a decade ago in the wake of the global financial crisis of 2008.
After decades of globalisation in trade, capital flows and even people-to-people exchanges, the trend has reversed over the past decade as trade and financial integration stalled.
Protectionist tendencies are on the rise. Since 2008, G20 countries have added more than 1,200 restrictions on exports and imports. Britain’s decision to leave the EU, the election of Trump on a protectionist agenda, and the rising popularity of right-wing political parties in France, Italy and elsewhere are all examples of rising public discontent with the status quo.
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(Excerpt) Read more at scmp.com ...
"Whatever you can get away with."
This is probably true.
They don’t want to tell you they are traitors.
Your post is the exact reason why we need uniform across the board tariffs. We have to stop the globalists.
You should care a lot. Which means you've learned NOTHING and are still a Free Traitor™.
Cant wait for the ads that lay Bidwn’s lifelong record of Globalism.
I know central va.
We just need to pay more.
MY point is that if there is a choice to buy Made in the USA I will. If there is a choice to buy from any other country other than CHINA. I WILL.
Why do you look at that way? What we might pay marginally more for will be made up with a robust economy and raising wages for all Americans.
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