printMy 2011 “Sinophobia Trumps Common Sense,” unfairly called Donald Trump “megalomaniacal.” It fairly pointed out, however, that “Sinophobia is sanctioned among American opinion makers. The dislike for China falls within the realm of perfectly respectable economic theory.”
The business mogul is motivated by the sense that the nimbus of great power that surrounds the US is dissipating. It hasn’t occurred to him to search closer to home for the causes of America’s economic anemia—at Fanny, Freddie, and the Fed, for a start. Since Trump has no idea what’s potting, and is not eager to look in his own plate — he blames OPEC and China for the burdens of doing business in the US.
With his “Sorry Mr. Trump, the Chinese Aren’t ‘Crushing’ Us,” our friend, professor George Reisman, deconstructs the “killing us in foreign trade” Trumpism:
American job losses are not the result of freer trade and an excess of imports over exports, but of government policies that prevent capital accumulation in the United States, among them policies that limit imports. An essential part of any economic policy that would truly help to “make America great again” is to avoid preventing imports. …
… READ THE REST. “Sorry Mr. Trump, the Chinese Aren’t ‘Crushing’ Us” By George Reisman is on Real Clear Markets.