While President Trump's protectionism and trade wars have led some to hail the end of globalization, Foreign Policy's Keith Johnson argues that while America turns inward, the rest of the world is open for business. "In reality," he writes, "outside of the United States, most other countries are racing to tear down barriers and embrace free trade with an urgency not seen in decades." The latest example is Europe's deal with the Mercosur trade bloc (Argentina, Brazil, Paraguay, and Uruguay), which, Anabel González of the Peterson Institute for International Economics wrote, sends "a signal to the world's protectionists that increased economic cooperation and integration can benefit all sides." That said, working around protectionism isn't easy. Vietnam may be one of the biggest winners of the US-China trade standoff, as countries seek to buy its exports, Tom Holland writes in the South China Morning Post—but its currency is now worth more, making its exports less competitive, and a new need for manufacturing equipment threatens to move it into a trade deficit. Even "for neutral countries that stand to come out on top, trade wars are anything but easy to win," Holland writes. |
No comments:
Post a Comment