Rather than opening the economy, embracing new ideas and technologies, and welcoming competition, #Trump has pushed #protectionist gimmicks, currency manipulation and tax cuts aimed at the 1% - an approach that risks walling off the United States from a #globaleconomy racing forward. For all his chest-thumping about low unemployment and stock gains, Trump isn’t getting under the hood of an economy being challenged by nimbler upstarts such as #China, India and #SouthKorea. None of Trump’s policies will increase #US productivity, reduce inequality or pressure executives to raise salaries.

Moreover, none of Trump’s policies seeks to repair crumbling infrastructure, cap runaway government borrowing or stabilize health care markets. Washington isn’t doing much to invest in education, ensure that tech-heavy industries have their pick of global talent or prepare the workforce for the real threats to U.S. workers: automation and artificial intelligence. The jobs Trump seeks to claw back from China - lower-wage manufacturing slots that the workers can’t do competitively because of higher wage and benefit levels - are gone forever. To even try to get them back is futile.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations #US
How Trump’s Obsession With China Could Turn America into Japan
https://www.politico.com/magazine/story/2018/05/23/how-trumps-obsession-with-china-could-turn-america-into-japan-218320

One unintended consequence of Donald #Trump’s #protectionist impulses is that the dry details of trade policy history are now trendy. So much so that the once obscure #SmootHawleyTariffAct of 1930 has suddenly become a headline-grabbing topic.

The impact of #SmootHawley is a cautionary tale that reinforces the message free-trade advocates are desperate to spread: that protectionism is bad for the economy. A group of economists, convened by the National Taxpayers Union, are taking the parallels between Smoot-Hawley and Trump’s #tariffs even further. They are recycling a letter signed by 1,028 economists, sent to president Herbert Hoover in 1930 to protest the original bill, to warn the current White House occupant of the dangers of tariffs.


#WorldEconomy #Protectionism #America #Globalisation #GlobalTrade #TradeWars #EconomicRisk #Economy #TradePolicy #InternationalTrade #TradeTariffs #Politics #Geopolitics #InternationalRelations
Economists are warning Donald Trump about tariffs with a letter from the 1930s
https://qz.com/1256920/trump-tariffs-economists-are-warning-against-protectionism-with-a-1930s-letter/

#Brexit and a #protectionist #America under the presidency of Donald Trump both threaten the #Netherlands more than most. In an otherwise upbeat report on the country’s prospects, the European Commission picks out Brexit-related risks as an Achilles heel. Ratings agencies put the Netherlands (along with Belgium, Ireland and Malta) as being at high risk from Brexit. By value added, #Britain is the Netherlands’ second-biggest export market after Germany.

The country’s economic-policy bureau, the CPB, estimates that a 'hard' Brexit, in which British trade is governed just by WTO rules, could cost the #Dutcheconomy 1.2-2% of #GDP by 2030. And Britain is not the only headache. Exports to America - and hence the threat of American tariffs - also matter disproportionately to the Dutch: 3.4% of GDP (compared with 2.6% on average for the EU) and 300,000 jobs depend on them.


#WorldEconomy #EuropeanEconomy #EconomicOutlook #Economy #EconomicReform #EconomicRisk #EconomicGrowth #Protectionism
The retreat of globalisation threatens the Dutch economy
http://www.economist.com/news/finance-and-economics/21718520-netherlands-more-risk-most-brexit-and-protectionism-retreat

PROTECTIONIST WINS THE CUP!
At only his 10th race start - Amazing!

Congratulations to Team Germany. Too good!
www.horseraceaustralia.com/melbourne-cup/

#melbournecup   #protectionist   #flemington  #springcarnival

President #Trump is serious about his election promises. James Harte analyses #protectionist measures, Trump is planning to implement.

As U.S. President-elect Donald Trump contemplates #tariffs and other limits on trade, he might consider the results of such #protectionist measures in 2 economies on the other end of the hemisphere, in Argentina and Brazil. For decades, #SouthAmerica’s two largest economies have tried to shield their workers from #globaltrade , largely through high tariffs and regulations that promote domestic production over imports. The World Bank ranks Argentina and Brazil among the world’s most closed big economies.

These protectionist policies have created tens of thousands of well-paid factory jobs and may have helped avoid factory layoffs like those that rattled Midwestern U.S. states like Michigan. But they have come at a huge cost to consumers, who now pay higher prices, and to taxpayers, who underwrite the subsidies. Taken together, these measures essentially transfer wealth from society at large to a smaller group of workers.


#WorldEconomy #WorldTrade #TradeBarriers #TradeTariffs #EconomicPolicy #EconomicDevelopment #Globalisation
How #LatinAmerica Pays the Price of #Protectionism
http://www.wsj.com/articles/how-latin-america-pays-the-price-of-protectionism-1480089781

With President Donald #Trump’s emphasis on 'America First' economic policies, #Japan and #SouthKorea are bracing for contentious negotiations over trade and defense sharing costs. Over 1,000 Japanese companies also have operations in #Mexico that export to the U.S., and that could suffer from any changes in #NAFTA. Japanese business leaders have voiced concern that U.S. protectionism will lead to a global economic downturn.

South Korea is not a member of the TPP but does have a #freetradeagreement (FTA) with the U.S. that Trump also criticized during the campaign. Some American companies have complained that South Korea tries to get around the #FTA by imposing excessive and confusing non-tariff regulations on U.S. imports


#WorldEconomy #Globalisation #Economy #EconomicPolicy #EconomicOutlook #FreeTrade #GlobalTrade #Protectionism
Japan, South Korea Brace for Trump #Protectionist Policies
http://www.voanews.com/a/japan-south-korea-brace-trump-protectionist-policies/3687704.html

President Donald #Trump, in his first address as the 45th US president, struck a #protectionist, isolationist chord as he vowed to upend the way #America relates to and does business with the rest of the world. The President reprised his populist campaign themes, invoking a vision of American decline in the world and signaling changes to long-standing US foreign policy that few of his Cabinet nominees and officials have publicly echoed. Trump's election rhetoric rattled many allies, and there was little in his inaugural address to reassure #US partners or to put foes on notice that the US intends to stand up for its friends and democratic values.


#WorldEconomy #AmericanEconomy #Economy #Trumponomics #EconomicGrowth #EconomicReform #Protectionism #UnitedStates
Trump stakes out inward, protectionist vision for America
http://edition.cnn.com/2017/01/20/politics/donald-trump-foreign-policy/

With this year being an election year, I've decided to give my characters some new designs. Anarchist now looks more like a libertarian hipster with his “euphoric” fedora and scarf, and Red Statist still looks like a redneck with his Trump 2016 trucker hat.

Speaking of which, as trite as this observation may be, isn't it ironic that the candidate promising to “Make America Great Again” has most of his campaign merchandise made in China? (http://bit.ly/1QGpM66) Meanwhile, Bernie Sanders is preaching equally protectionist policies, but at least he walks the walk while he talks the talk by having his campaign stuff made here in the good old U.S. of A.

Then again, logical consistency means jack diddly squat when protectionism is pure B.S. (http://bit.ly/1PU3E5f)

#statistandanarchist   #statism   #anarchism   #anarchist   #libertarian   #libertarianism   #protectionism   #protectionist   #immigration   #outsourcing   #madeinamerica   #madeinchina   #donaldtrump   #trump2016   #makeamericagreatagain   #politics