A trade war with China poses a serious threat to the US itself, which is bound to suffer severe losses due to trade diversion; and broader damage, as tit-for-tat tariffs reduce overall exports, undermine total global trade, and world economic growth.
Free-market orthodoxy has failed. It’s time to consider our public interest. Europeans, Canadians and Mexicans buy more American goods and services than anyone else in the world. So why would the Trump administration be willing to start trade wars?
The country-based framing of the international accounts serves to obscure the very resilient and virulent foundations of U.S. power, based in the private corporate sector. Corporate ownership and/or control of trade, income and financial flows have become increasingly internationalised, ...
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