This free trade Race to the Bottom is ending very badly...
It always does.
Clearly...developed nations can not "compete" with undeveloped economies...it just won't work...
What if some nation declared every citizen to be slaves...who must work for the government enterprises...in exchange for basic necessities of life...? Is that much different that India and China...
The fallacy is that the "free market" does not work...and it never did work...
The history of tariffs and protected markets is very very ancient...going back to the very first human economic activity...
Free Trade was not a "discovery" it was and is an economic ploy...used by one group in an economy against another... In short free trade is politics...NOT ECONOMICS...
Why were the Democrats the "free traders" in 1900...and the Republicans the protectionists...? In England "free trade" was used to break up the aristocrats hold on markets by the new "liberal" capitalists during the Industrial Revolution...
FREE TRADE IS DOMESTIC POLITICS...IT NEVER WAS ECONOMICS... This is just a fact...
This is were America went wrong...and let Wall Street loot the US economy to the bond.
Historically those who do not protect their domestic economy will lose it...
And the Americans are the best recent example of that sad fact...The US economy is a Zombie...and it is not "coming back."
