2016 Postmortem
In reply to the discussion: Bernie/Trump/Hillary On Trade Policy - When You Say You Are Against Free Trade Agreements [View all]PufPuf23
(8,774 posts)Sanders is a proponent of returning to the GATT-like solutions that existed prior to the WTO and Free Trade Agreements that turned loose the trans-nationals.
Smoot Hawley when enacted gave a limited boost then added to the Depression by reducing trade. Gains were made in bits by weakening Smoot Hawley but there was a Depression and then WWII to occupy folks. After WWII there was Bretton Woods and GATT to organize monetary, financial, and trade relations. The system worked well for 50 years. The neo-liberals and globalists looked for ways to weaken the system to their advantage through the politics and succeeded. The free trade deals as others noted contain far more than actual trade; in this thread I tried to focus on the trade itself. Free trade is sort of a will-o'-the-wisp in that it really never exists as the free market assumptions are never met.
The USA has developed a huge trade deficit with China. What is required is to go through trade relations line item by line item; of course, China will not like something that impacts their perceived interests.
No link. I make up what I write in sort of an informed way unless linked to something.