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Tariffs, the global economy, and well-being
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By Daniel GrosA few years ago, there was a broad consensus worldwide on trade: the freer, the better. Only nerdy economists spent a lot of time thinking about trade-related details, and pretty much the only ones who stood up for protection were special interests. Overall, tariffs were relatively low, most governments were trying to attract foreign investment, and technology transfers were considered a means of spreading prosperity. That was once…
Tariffs, the global economy, and well-being
Here is an opinion piece written by Mr Long Dingbin, Chinese Consul General In Perth. This opinion piece was also published on the Guardian Newspaper this week. Recently, the US has been imposing tariffs on all trading partners under the guise of so-called “reciprocal”, and at one point raised tariffs on China to a maximum of 245%. Under China’s resolute countermeasures, the US agreed on 12th May to temporarily reduce tariffs on Chinese goods to…
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