Sunday, October 2, 2016

Back at Setser's

  • Posted by Paine
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    The trade interval 2001 to 2007
    China’s golden interval
    Shows what a modern global trading system can do
    To rapidly reconfigure
    The global distribution of trade goods production
    The ability to run those huge imbalances will be admired for decades
    And to think we complain about the globes financial institutions !
    Those devils made this possible M
    I look forward to India’s golden interval
  • Posted by Paine
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    By implication
    Brad has China’s development strategy in his cross hairs
    At some point
    The politburo must allow imports to equal exports
    A faster growing composite trading partner
    That can absorb more imports from china will allow
    Chinese industry to grow more rapidly
    Import substitution growth
    Is slower and more difficult
    then export extension growth
    If global markets are adequately open
    —- as they are now for china —
    The home market should be a hatchery for global competitors only
    Not perpetual hot house operations sustained by state barriers of one variety or other