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View Diary: Make It in America (147 comments)

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  •  Sure, go ahead and raise duties, tariffs. (1+ / 0-)
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    elwior

    This will make the biggest importers to the US a bit grumpy, but, hey, they don't happen to hold large portions of US foreign debt!

    Wait...

    The reason why China, Japan, Germany are willing to stabilize the American trade deficit by buying government bonds, dollars, etc. is that they want the American consumer to stay afloat - so they can make a profit with cheap toys (China) or superior technological equipment (Germany, Japan).

    Take away or minimize these profits and behold the Euro become the leading international currency.

    So: No, duties are not the solution.

    "The philosophers have only interpreted the world, in various ways. The point, however, is to change it." Karl Marx, Theses on Feuerbach XI

    by aufklaerer on Thu Aug 05, 2010 at 09:17:42 AM PDT

    [ Parent ]

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