Protectionism v Free Trade

🇺🇸 Some politicians are calling for protectionist strategies across the board, and others are opposed to it and are calling for free trade across the board. My opinion is mixed. I support free trade with free countries and strategic trade also known as protectionist strategies with those countries that use economic policy to undermine our open society. My views on trade policies are most aligned with Robert Gilpin, the American political scientist who wrote the book, Global Political Economy: Understanding the International Economic Order.

Trump is being extremely foolish by calling for trade wars with our allies. That will not benefit anyone, but our adversaries. Trump's ideas seem to be coming straight from Vladimir Putin sometimes. I think his rhetoric is just meant to rile his voter base, which is probably totally clueless about strategic trade theory and have never heard of Robert Gilpin. For those voters, the past trade policies with China or globalism in general is just not working. Those voters want to know that someone has a better plan, or at least a new plan.

I do agree with Jeremy Hunt's statement. I do agree that global trade has lifted people around the world out of poverty, but he is ignoring that fact that it has also empowered dictatorial regimes, and in turn, made the world more dangerous. He is also ignoring the fact that in many parts of the world, elitist groups control the new wealth from global trade while the rest of the population remains in severe poverty. Jeremy Hunt's view is a little too idealist, not realist. While we still want to pursue the ideal of lifting people around the world out of poverty, we can't ignore reality. We must face reality and adjust our strategy, or else we will never achieve the ideal.

I believe the USA should pursue a strategic trade policy with China, but a free trade policy with our allies. Pursuing free trade policies with our allies, will also create a desire among nations to be aligned with the USA. All of our allies are wealthy, so being aligned with the USA already has obvious advantages. Ultimately we want to create new alliances and new treaty organizations with nations in other parts of the world like Asia, Latin America and Africa. This strategy of promoting free trade among allies will also lift people out of poverty without empowering adversaries and warmongers or those who seek to undermine our way of life.

xo

Response to: https://www.politico.eu/article/return-to-protectionism-a-profound-mistake-uk-finance-chief-warns-donald-trump/