Sublime

Openness to trade can both generate high-quality jobs tied to exports and provide consumers access to the best products produced elsewhere, a value both in and of itself and as a stimulus to modernize and improve. Trade is also less prone to corruption and misallocation than assistance. Poorer countries often have a built-in advantage of lower labo

... See more

The “other countries should put tariffs on China” idea and the “China should shift its economy toward domestic consumption” idea are unified in the worldview of Michael Pettis, who has advocated both things. He has been saying that China needs to increase the share of consumption in its domestic economy for well over a decade, and it seems to me th... See more