We’re talking about the relative pain of cutting off Chinese imports or getting into a trade war with them. In that context, the fact that we import far more from them then we produce domestically compared with decades ago means that it will be more painful to do so now than it would have been decades ago.
The reality is that while there is a tiny ‘buy American’ push from some people, the vast majority of the American economy and regulations are setup to allow private capital to trade freely abroad and import at will. And it was done intentionally so that rich people could benefit from cheap overseas labour, furthering wealth inequality when middle class factory workers lost their jobs to increase corporate profits with cheaper overseas factories.
No, it’s focusing the conversation.
We’re talking about the relative pain of cutting off Chinese imports or getting into a trade war with them. In that context, the fact that we import far more from them then we produce domestically compared with decades ago means that it will be more painful to do so now than it would have been decades ago.
The reality is that while there is a tiny ‘buy American’ push from some people, the vast majority of the American economy and regulations are setup to allow private capital to trade freely abroad and import at will. And it was done intentionally so that rich people could benefit from cheap overseas labour, furthering wealth inequality when middle class factory workers lost their jobs to increase corporate profits with cheaper overseas factories.