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Is trade and globalization a good thing?

Despite the political spin both parties put on this issue, Stossel is 100% right...generally speaking Globalization is a great thing and so is trade. With a few caveats:

  • Trump's rhetoric about China was factually incorrect, but his actual tactics were spot on. Ergo negotiate to make sure we have the same access to sell in China that they enjoy here.

  • Certain industries are advantageous for the economic and military security of this country. We should have strong US supply chains to process precious metals (Lithium, etc) and semiconductors for example.

  • Our chief trade "adversary" has been China. They've stolen trade secrets, shut us out of Chinese markets, and trying to exploit nations in Africa with exploitive financing practices. That's about to change. China's economy is in a nose dive, their housing sector is in free fall (half of their economy) and they're entirely dependent on trade to survive (plus their labor rate has gone up over 10 times in the past 13 years). They need to play ball fairly (& play fairly with the US and the EU) or their finished.


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