Judging by the results, the United States should be the last country that wants to reorder the world economy.
We have done it in recent decades, while other advanced democracies have been left behind.
If we have “scammed” like President Donald Trump and like to say supporters of the commercial war, the alleged thieves have won little and the alleged victim has continued marching.
That does not mean that we should not try to change unfair commercial practices and obtain more independence from Chinese supply chains.
However, it is nonsense to interrupt Willy, a system that has our lining at the apex and strengthening itself instead of weaker.
We have been exceeding the rest of the advanced world since the early 1990s.
As Economist said in a cover story last year, “in 1990 the United States represented about two fifths of the general group of the G7 group of advanced countries; today it is up to approximately half.”
We double the gap in the production of our person over Europe and Japan throughout those decades.
Since 2020, we grew three times faster than G7. In general, while we were 21% of world GDP in 2012, we now have 26%, right about where we were in 1980.
Our labor productivity has triggered compared to other developed economies, and we spend more on R&D as a percentage of GDP than any other country, except South Korea and Israel.
The countries that had supposedly discovered a powerful mercantilist alternative to our free market have stagnated.
Germany was once acclaimed as an industrial policy model; Its GDP has not grown since 2019, and manufacturing has decreased for years.
Japan was once the object of fear and envy for its industrial policy; It is a low growth economy for more than three decades.
Canada was also a consultation of an alternative model, but its national income per capita was 80% of ours not too long and is now approximately 70%.
Meanwhile, instead of advancing the United States in GDP, China has given ground in recent years and has a production per person that is not a third of ours.
The conformity with the economist, “the average wages in the poorest state in the United States, Mississippi, are higher than the averages in Britain, Canada and Germany.”
Have you not devastated our leg in the manufacturing sector?
As the Financial Times points out, our manufacturing production actually has increased Since 1990.
We are using fewer people and making different and high -end products than before technology and aerospace, less shoes and textiles.
The document indicates that the United States is the best in the world in terms of manufacturing production per worker.
As we have lost jobs in manufacturing (5 million since 1990), we have collected them in services (almost 12 million) and in transport and logistics (more than 3 million).
The objective of Trump’s tariffs is to increase employment in a sector of the economy at the expense of the rest of the economy, which is inherently a bad business.
The sweeping of rates means that they are designed by Porly to achieve, this particular objective, since the price of steel, aluminum and other inputs that manufacturers will increase.
An estimate is that Trump’s steel and aluminum rates resulted in approximately 75,000 Ferwer manufacturing works for this same reason.
The normal impulse is wanting to change the rules in the middle of the road when you are losing, not when you are winning the race.
The economic therapy of shock is what the failed countries attempt, either Russia under Boris Yeltsin, the ancient countries of the eastern bloc or Bolivia in the 1980s.
Here, Trump is using a defibrillator in a patient who not only spent his stress test with flight colors, but is defeating everyone else in the 100 -yard race.
Trump has talked about the acceptance “a bit of disturbance” with his new tariff regime.
The danger is that we will simply have less economic growth than we would have had otherwise, since the president is not rescuing a case of economic basket, but to change what is a winning formula.
Twitter: @richlowry
