Re: Economic MAD approaching its logical conclusion?
Originally Posted by Brooks Gracie
This analysis is simply wrong. The US suffered from Smoot-Hawley because it was the world's largest net exporter at the time. That situation is turned on its head now. The only things we export are now food and weapons. Tariffs are inapplicable to these goods. China wants to starve its people in exchange for being able to export plastic toys profitably?
I'm intrigued by your thesis. What percentages of the U.S.'s exports do you believe is immune to the effects of a trade war? And could you also flesh out the idea that net importers do not suffer, but benefit, from a trade war? These assertions are not obvious to me.
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