Misleading Trade Narratives
The discussion highlights how common perceptions of trade success can be misleading, with examples like South Korea's trade deficit during its growth years. It challenges the notion that trade surpluses equate to economic superiority, emphasizing that many countries with surpluses often lag behind the U.S. in per capita GDP. Additionally, the conversation addresses the complexities of job losses in regions like West Virginia, attributing them more to technological changes than to trade policies.In this clip
From this podcast
EconTalk
Why Industrial Policy Is (Almost) Always a Bad Idea (with Scott Sumner)
Related Questions