so renegotiating trade deals

#1
R

ReaderVol

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#1
The US Chamber is having a fit at the thought of doing so.
What's your thought? Good or bad?
 
#6
#6
MT LeConte said:
Any Phd's of International Economics on board?:popcorn:
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Don't need one. Free trade with everyone.

Poll Question to the 100 IGM economic experts.

Freer trade improves productive efficiency and offers consumers better choices, and in the long run these gains are much larger than any effects on employment.
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#8
#8
n_huffhines said:
Don't need one. Free trade with everyone.

Poll Question to the 100 IGM economic experts.
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Free trade requires true free trade on both sides of the deal.

If one side is practicing fair trade and the other is cheating, manipulating currency, subsidizing industries, etc. then you haven't created free trade.
 
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#9
#9
volinbham said:
Free trade requires true free trade on both sides of the deal.

If one side is practicing fair trade and the other is cheating, manipulating currency, subsidizing industries, etc. then you haven't created free trade.
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But you are still better off holding up your end of the bargain. It doesn't matter what the other side does, you trade freely. If they want to give us goods for cheap, then we're winning.
 
#12
#12
volinbham said:
disagree.
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OK. Literally 0% of those economists disagree.

The wording of the poll question only considered gains to consumers and productive efficiency as the benefits. It had nothing to do with the other side breaking down trade barriers...
 
#13
#13
n_huffhines said:
OK. Literally 0% of those economists disagree.

The wording of the poll question only considered gains to consumers and productive efficiency as the benefits. It had nothing to do with the other side breaking down trade barriers...
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I think he is considering more than that
 
#14
#14
n_huffhines said:
But you are still better off holding up your end of the bargain. It doesn't matter what the other side does, you trade freely. If they want to give us goods for cheap, then we're winning.
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How is it free trade when we're losing 500 billion a year to China and other countries?
 
#15
#15
n_huffhines said:
OK. Literally 0% of those economists disagree.

The wording of the poll question only considered gains to consumers and productive efficiency as the benefits. It had nothing to do with the other side breaking down trade barriers...
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I'd bet they were responding to the concept of free trade where all parties are engaged in true free trade. That is the underlying assumption.

Ask them about "free" trade where one side is full on free and the other is manipulating and I guarantee the answer is difference.

The concept of comparative advantage is based on free trade from all parties.
 
#17
#17
The problem with economic theories like free trade is always better is the qualifier "ceteris paribus"
 
#18
#18
Hope we negotiate a trade deal between US-UK quickly. Obama's "back of the queue" comment epitomizes his presidency; arrogant and clueless.
 
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#20
#20
volinbham said:
Which way did you vote?
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Remain, but I was undecided until I went to the polls. I'm not mad about Leave. But, even as a Remain voter, it got my blood boiling when Obama suggested we'd be overlooked re: a trade deal. It would be absurd for both countries not to do a deal.
 
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#21
#21
alexmanu said:
Remain, but I was undecided until I went to the polls. I'm not mad about Leave. But, even as a Remain voter, it got my blood boiling when Obama suggested we'd be overlooked re: a trade deal. It would be absurd for both countries not to do a deal.
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Agree. This coming from the President who toured the world to apologize for the US being arrogant and meddling in other countries' affairs. Ironic.

Cheap mob tactic "be a shame if something were to happen to your little trade deal".
 
#22
#22
LouderVol said:
I think he is considering more than that
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Right.

What I am saying is 85% of those economists say it doesn't matter if the partners practice free trade in return. We benefit enough through productive efficiency and consumer prices that it's worth it to freely trade. It's not just worth it, they are saying the gains are "much larger" than the losses.

The other party breaking down trade barriers is just a bonus.
 
#23
#23
volinbham said:
I'd bet they were responding to the concept of free trade where all parties are engaged in true free trade. That is the underlying assumption.

Ask them about "free" trade where one side is full on free and the other is manipulating and I guarantee the answer is difference.

The concept of comparative advantage is based on free trade from all parties.
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Yeah. They're just a bunch of dumb guys that don't understand poll questions.

Good argument.
 
#24
#24
...and just because it was your underlying assumption, doesn't mean it was theirs. Most of those economists have spent decades answering and writing confusing exam questions, intentionally meant to mislead. That's the way econ tests are. You have to dissect every component of the question to get the right answer. They are answering the poll question that was posited.
 
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