News. Markets are generally unhappy about the news that President Obama recently approved higher tariffs for Chinese-made tires. Such protectionist moves reduce trade, and ultimately, prosperity for both nations involved.
It's likely intended to save or create U.S. jobs. In reality, it will just drive up costs for consumers and anger the Chinese. They have reportedly already filed a complaint with the World Trade Organization.
My point. Am I wrong or are we moving towards a government managing our lives (health, cars, banking, housing, insurance, ....) and favoring protectionism? Is this the recipe for strong growth for our country?
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George Dagnino, PhD
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1 comment:
You are right. I have long understood that Government workers seek out the worst course of action, intentionally avoiding easy to pick good choices. It's programmed in. It make them think they are "contrarian" or something.
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