We should support free trade. The People’s Republic of China is an intensely unfree, oppressive regime that uses slave labor to support its centrally directed economy, so free trade is impossible. Obviously, we need tariffs, the revenues from which might help to rebalance the federal budget if Congress ever decides to slash and restrain spending. But we may need more complex barriers and outright bans.
Consider that the People’s Republic of China may want to make economic war against the American economy. They decide to sell the door locks for a penny a piece. They lose money on the deal; even slaves need some food. But the enormous financial capacity of their totalitarian government subsidizes the losses indefinitely until the other factories throughout the world close. Then, the Chinese can hike the prices and take the profits. After several decades, Americans have forgotten how to make the door locks and depend entirely on the Chinese. With one product, that perhaps represents an insignificant problem.
But if the Chinese do likewise with thousands of problems, then they can wage economic warfare to their profit and our peril.
Beijing Biden, unlike Trump, long has stood with the Chinese Communist Party in making economic warfare against American society.
“But if the Chinese do likewise (target certain industries with subsidized dumping, to bankrupt competitors) with thousands of problems, then they can wage economic warfare to their profit and our peril.”
They have been doing that very systematically and deliberately, for decades. Since the Clinton Administration, it has been a large scale Government effort to prioritize their target industries, and subsidize their “National Champions” to take the market share.
Free land, free electricity, no tax, unlimited loans - whatever it takes.
It has been conducted very strategically by the communist government, with a lot of people dedicated to the effort full time.
Not free trade at all - the very opposite. Not random at all, but carefully, planned, prioritized and sequenced - deliberately targeting National Security capabilities, as well as economic gain.
Very good post.
There is more and more talk about boycotting Chinese goods but enough people going along with that might be a problem.