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posted at September 5, 2011 8:06 AM EDT
First: February 29, 2008
Last: June 16, 2013
Free traders fans are so religiously committed to the doctrine that they can't even imagine the possibility that they might be wrong. The USA has been stripped of valuable industries by one-sided free trade. i.e Fluorescent lighting, LCD's for monitors, notebook & netbook PC's, and the list goes on and on and on.
These are not JUNK industries like plastic toys they are hi-tech and hi-wage industries with a future and without them the USA is going to be increasingly shut out of the job-creating markets.
Our unemployment rate is around 9.2% and meanwhile Germany stands at around 6%. Gen Motors went bankrupt not Toyota or Mercedes.
The EU practice managed trade by dozens of different means. The EU has several hundred restrictions on import quantities
The USA needs to get wise to the fact that the rest of the world views trade (correctly and intelligently ) as rivalry. Or else we will continue to delcine economically.