Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Writing in the August 7 Forbes Magazine (Obama Can't Say the Word "China"), Gordon Chang points out that President Obama is ignoring one of the primary causes of the US economic malaise. He writes:
He goes on to point out that Washington is doing nothing to counter China's predatory trade practices, even though we have the right to do so:
We designed the scaled tariff as a WTO-legal way that countries can counter mercantilism. Its tariff rate would be adjusted quarterly in order to take in half of our trade deficit with each country as government revenue. It's rate would go up as our trade deficit with a country grows and go down as it shrinks. It would not apply at all to countries, such as Canada and Brazil, with whom our trade is in balance or surplus. Thus it would strongly encourage China and the other mercantilist countries to take down their barriers to our products in order to reduce or eliminate our tariff upon their products.
Comment by mark zoppolato, 8/18/2011:
China manipulates markets and currencies to destroy competition and economies,,,!!!!! It is not playing monopoly ,,it is destroying capitalism.
Journal of Economic Literature:
Atlantic Economic Journal: