tag:blogger.com,1999:blog-8764541874043694159.post1852333012778436928..comments2024-03-29T09:34:18.837+00:00Comments on Coppola Comment: The mercantilist threat to global rebalancingFrances Coppolahttp://www.blogger.com/profile/09399390283774592713noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8764541874043694159.post-29054088670066818832014-06-19T14:52:23.647+01:002014-06-19T14:52:23.647+01:00Free trade for others is in the interests of the s...Free trade for others is in the interests of the strongest competitor in world markets, and a sufficiently strong competitor has no need for protection at home. Free trade doctrine, in practice, is a more subtle form of Mercantilism. When Britain was the workshop of the world, universal free trade suited her interests. When (with the aid of protection) rival industries developed in Germany and the United States, she was still able to preserve free trade for her own exports in the Empire. The historical tradition of attachment to free trade doctrine is so strong in England that even now, in her weakness, the idea of protectionism is considered shocking <a href="http://goo.gl/yeCbqS" rel="nofollow">sbobet</a><br /><a href="http://goo.gl/5ZZEe0" rel="nofollow">edu</a><a href="http://goo.gl/4UkNus" rel="nofollow">dart</a><a href="http://goo.gl/aCwz3M" rel="nofollow">web</a><a href="http://goo.gl/DxSNpZ" rel="nofollow">fan</a><a href="http://goo.gl/c0q85y" rel="nofollow">think</a><a href="http://goo.gl/b2WYFs" rel="nofollow">sound</a>agen sbobet onlinehttp://goo.gl/s2LVUjnoreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-31812568302048869162013-07-17T15:34:25.368+01:002013-07-17T15:34:25.368+01:00Ah but one man's debt is another man's fin...Ah but one man's debt is another man's financial asset so clearing debt will destroy the asset. The western elite wants labor to adjust downward to rebalance but insists that the present value of capital assets be protected(monetized) by the Fed. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-45759525196521564712013-07-16T09:10:36.657+01:002013-07-16T09:10:36.657+01:00I love your blog post. Its a very relevant and imp...I love your blog post. Its a very relevant and important topic and I think you’ve explained multiple aspects very well. Thanks for the information<br /><br /><a href="http://bubongtireh.blogspot.com/" rel="nofollow">Download antivirus terbaru</a>Anonymoushttps://www.blogger.com/profile/01881561642497014417noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-46053466737442411052013-07-15T17:16:13.456+01:002013-07-15T17:16:13.456+01:00One way to rebalance is just to clear the debts fr...One way to rebalance is just to clear the debts from time to time. Done well, it can be good for everyone: net importers keep some stuff they don't pay for, and net exporters can indulge in their habit, which is probably a cultural thing. The trick is just finding a good/smooth debt reset (surplus recycling) mechanism. It's not trivial but it may be easier to do that than try and change the underlying cultural biases.cighttp://commentisglee.wordpress.com/noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-31606217310838470052013-07-15T02:51:22.967+01:002013-07-15T02:51:22.967+01:00Free trade is a subtle form of Mercantilism as per...Free trade is a subtle form of Mercantilism as per Joan Robinson who coined "beggar-my-neighbour":-)<br /><br />"Free trade for others is in the interests of the strongest competitor in world markets, and a sufficiently strong competitor has no need for protection at home. <i>Free trade doctrine, in practice, is a more subtle form of Mercantilism</i>. When Britain was the workshop of the world, universal free trade suited her interests. When (with the aid of protection) rival industries developed in Germany and the United States, she was still able to preserve free trade for her own exports in the Empire. The historical tradition of attachment to free trade doctrine is so strong in England that even now, in her weakness, the idea of protectionism is considered shocking." - Joan RobinsonRamananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-27049289963529903982013-07-15T02:09:26.539+01:002013-07-15T02:09:26.539+01:00Frances,
As usual, have enjoyed reading your post...Frances,<br /><br />As usual, have enjoyed reading your posts. <br /><br />"the differences show up as falling wages in the excess labour country and rising wages in the labour deficit country". <br /><br />But, Chinese "real" unemployment rate is higher than that of the US. And Chinese income distribution is much worse than almost all OECD nations. I don't think imbalance adjustment will complete soon. Not in decades or maybe never will. People in advanced world are trapped in a very miserable world in which adjustments are always part of the reality. This is why the issues raised in your last post are extremely important. <br /><br />a reader from AsiaAnonymousnoreply@blogger.com