BUILD a wall and get the Mexicans to pay for it—that is Donald Trump's most famous promise. Why would Mexico agree to such an arrangement? All that is needed, he implies, is for a firm hand to be taken in the negotiations. Why hasn't it been so far? One reason is that, in his words, "Our leaders are stupid. Our politicians are stupid" and as a result
Our country is in serious trouble. We don't win anymore. We don't beat China in trade. We don't beat Japan, with their millions and millions of cars coming into this country, in trade. We can't beat Mexico, at the border or in trade.
Leave aside for the moment, the obvious point that a trade deficit doesn't mean the country is "losing"; more trade means more economic activity, cheaper goods for consumers and so on. A world in which each country tried to produce all the goods it needed within its borders would be a much less prosperous...Continue reading
Source: Business and finance http://ift.tt/21SrZ3E
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