Friday, March 23, 2018

Thank you Krugman!


Bumbling Into a Trade War

Paul Krugman MARCH 22, 2018

All in all, Trump’s trade policy is quickly turning into an object lesson in the wages of ignorance. By refusing to do its homework, the Trump team is managing to lose friends while failing to influence people.

The truth is that trade wars are bad, and almost everyone ends up losing economically. If anyone “wins,” it will be nations that gain geopolitical influence because America is squandering its own reputation. And that means that to the extent that anyone emerges as a victor from the Trump trade war, it will be … China.

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