Tuesday, December 23, 2008

Being a Protectionist

If being a protectionist means that one is pro jobs for Americans that produce products that Americans need in ways that do not breed excessiveness, being a protectionist may not be a bad thing.

Trade agreements must not devastate the masses of one economy, elevating those of another while a few at the top greatly benefit. (Yes, the Wal-Mart model is understood.) Contrary to what some might think, some of our trade policies may be short-sighted policies in the long run, policies that feed greed and debt.

From a recent report in the Washington Post China is now hurting from the lack of exports. (Yes, the fact that China holds many of our T-Bills to the tune of more than a half of a trillion dollars is also understood.) But does America, with all of its greatness in innovation, ingenuity, natural resources, and land mass want to mainly become a country of imports?

Does America want to continue to run deficits so large that another country's decision can bankrupt our very own? China has surpassed Japan in acquiring T-bills where it is believed that America has, in fact, become Chimerica where they could do without us but we could not do without them. Is this kind of debt system the best system? Is there a better way?

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