Originally produced on Aug. 1, 2016 for Mauldin Economics, LLC
The controversy over the Trans-Pacific Partnership has escalated in the United States. At this point, both presidential candidates oppose it. Donald Trump appears to oppose most multinational agreements, including noneconomic ones. He believes that such treaties do more harm than good. According to some, it puts poor countries at a disadvantage—at the mercy of multinational corporations.
Others say such treaties transfer jobs to low-wage countries, enriching multinational corporations and hurting workers. Interestingly, the Republican Party has aligned itself with those who demonstrate against globalism at every meeting of the G-20. It is interesting but not surprising, as the question of free trade has become a pivotal issue, transcending ideology.
Free Trade: Nice in Theory…
The argument that has increasingly dominated since World War II is that free trade (trade without tariffs or r
Understanding geopolitics starts here.