America at a Crossroad: Rethinking Trade, Geopolitics, and Economic Well-Being
[An edited copy of this article under the title “America should not blame trade – or its trading partners – for its ills ” is initially published at the South China Morning Post (pdf archive here)]
Bernie Sanders and Donald Trump are leading a new American awakening on global trade. According to the new emerging consensus, America has been the victim of bad trade deals – including the yet-to-be-ratified Trans-Pacific Partnership (TPP) – for decades. These deals have shipped millions of good-paying American jobs abroad and in the process hollowed out the American middle class.
When Sanders and Trump recently began questioning the merits of trade with allies such as Japan as well, however, many believed them to have crossed a line. It is one thing to attack China for “stealing” jobs but quite another to sell short a close and faithful ally.
Americans have long harbored schizophrenic attitudes on trade, however. Read more…
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