Is Donald Trump right about free trade costing American jobs? The answer is no, for the most part, this article from the Wall Street Journal indicates. As reporters Bob Davis and Jon Hilsenrath write, “When import booms from Japan, Mexico and Asian ‘tiger’ economies such as Taiwan arrived in the U.S., many cities and towns were able to adapt.”
But China has been different, as the respected M.I.T. economist David Autor has concluded. “No other country,” Davis and Hilsenrath write, “came close to its combination of a vast working-age population, super-low wages, government support, cheap currency and productivity gains.” It’s a conclusion that supports Trump’s argument that opening up the U.S. to trade with China, supported by both the Clinton and Bush administrations, was a mistake, or at least was overdone.
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