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Trump’s superior plans on the economy
06/14/2016   By Peter Morici | The Washington Times
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Trump Economy Would Beat Hillary’s Illustration by Greg Groesch/The Washington Times

 

Donald Trump and Hillary Clinton offer Americans a clear choice on the economy. On international trade, taxes and business regulation, he advocates radically different strategies to fire up growth, whereas she would build on President Obama’s agenda.

Since ancient times, commerce has drawn nations closer together. The rise and fall of civilizations often has been determined by how effectively they exploit new technologies to achieve competitive advantages and governments support the process.

Sadly, through the Clinton-Bush-Obama years, federal policies have hardly been an ally of U.S.-based businesses and workers.

President Clinton threw open domestic markets to Chinese goods and investment, anticipating equal access in China for American products and business. Instead, Beijing has systematically shut out U.S. exports and required American investors to give away technology to Chinese joint-venture partners. Those are driving the biggest bilateral trade deficit and transfer know-how in history and are a big reason why the Chinese economy grows three times more rapidly than ours.

Mr. Trump is not threatening to start a trade war with his high tariff — we have been in one all along. Beijing arms its businesses with automatic rifles, while Washington hands out sling shots to American competitors.

Requiring China to end its mercantilist practices or face stiff tariffs is not a novel idea. Mitt Romney suggested much the same in 2012 and liberal economist and Nobel Laureate Paul Krugman has argued for a similar approach to finally pry open the Chinese market.

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