Trump The Globalist
In this great big happy global community it is always pleasant to hear from our correspondent from Peru, Mr. Hernando De Soto, in the 11/28/16 Wall Street Journal in a piece he entitles The Real Enemy for Trump Is Mercantilism, Not Globalism. Mr. De Soto addresses this as Trump’s real problem.
In his role of incoming president Trump represents the problems facing the US and I respectfully demur from Mr. De Soto’s opinion that our problem is mercantilism. It definitely is not. The problem is globalism as Trump has repeatedly pointed out. Few people seem to hear him.
The problem as Trump addresses it is the differential in the cost of producing goods in the US and the rest of the world, most specifically China and Mexico. A secondary problem is the exclusion of American made goods and the equal right of investing globally; that is, China specifically excludes the right to invest in China that that country enjoys in investing in the US and the third problem is the artificial maintenance of the currency exchange right by China and possibly Mr. De Soto’s Peru although I am not familiar with Peruvian attitudes. In other words Trump’s position is that the playing field has to be leveled. Mercantilism has nothing to do with it.
In order then, for the global economy to go forward some sort of global equity should be speedily arranged and I am sure Trump will obtain this equity by any means necessary if the various participants refuse to see reason.
As far as the US part in the global economy one may say the gold rush is over. We’ve set the global economy on its feet. It is now time for reciprocation. There is nothing more absurd than that US military supplies be made in China. I’m sure Mr. De Soto sees the point. Our people need jobs too. Mr. Trump will bring the US economy back home. China having been taught how can then exploit its one and a half billion population for decades without any need for the US.