American - Economist | July 15, 1949 -
The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years.
Peter Navarro
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My fellow economists and academics fail to understand the economics of trade in the real world. Traditional models of academia respect free trade without considering whether it is fair trade.
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If you've been to China, you know there are over 100 cities in China, and the pollution levels are just horrific - 60,000 people a year die in Chinese factories and facilities because they don't have any safety regulations. It's a carnage; it's Dickensian.
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In a free market and in the absence of planning, developers will flatten every hillside, fill every canyon, obliterate every endangered species, and pave over every wetland they think they can make a buck on.
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Would you rather have cheap, subsidized - illegally subsidized - goods dumped into the Wal-Mart and not have a job and not have your wages go up in 15 years, or would you like to pay a little bit more - not much - a little bit more, have a job, and have your wages going up? I think the American people are going to make that choice.
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For those of you who still believe in the Easter Bunny and that the letters that appear in your local newspaper come from concerned citizens who really care, I've got troubling news. At least in politics, most of the letters that get published on the letters-to-the-editor page originate in the campaign headquarters of the candidates.
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Al Gore has all of the positive attributes of Bill Clinton but is saddled with none of his negatives. He's a great big teddy bear of a political figure - Teflon coated, road tested, and everyone's nice guy.
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Never, ever cheat, especially yourself, even if you are absolutely, positively sure that you can get away with it.
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There's a natural antipathy on the part of the voters to a continuation of globalization as we know it. It's simply a code word today for bad trade deals that disadvantage the American people.
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One of the goals of the Trump administration is to reclaim all of the supply chain and manufacturing capability that would otherwise exist if the playing field were level.
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Donald Trump is not a protectionist. If he imposes tariffs on China or any other country that cheats, all he wants to do is defend America against unfair trade practices.
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The way the textbook works is you have gains from trade that should be distributed across all the trading partners. As soon as one bad actor like China massively cheats, they win at the expense of us; they win at the expense of Europe, and over time, it threatens the entire integrity of the global financial system and the global trading system.
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