Friday, March 24, 2006

Does he sip or guzzle the Kool-Aid?

Fascinating post by Stephen Roach of Morgan Stanley (via Andrew Leonard in Salon) about his recent discussions in China. Senator Schumer's comments scare me.


Judi said...

No one has studied economics less than I have, now that Lucy has completed a half semester of it, however, I believe I would have come to the same conclusion as James, had I read it without his guidance (what are the chances of that???)

Saturday, March 25, 2006 5:52:54 PM  
James said...

Well, the logic is what bugs me. The idea that even one manufacturing job will move from China to the US if such tariffs are imposed is downright nutty -- those jobs will just move to some other, slightly more expensive country. The people who will suffer are people in the US who buy Chinese-made products, which is to say everybody but especially the poor.

Furthermore, why is the senator from a state where manufacturing represents a mere 7% of the 2004 gross state product (according to this site) pushing for tariffs?

Saturday, March 25, 2006 8:24:27 PM  

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