It’s time to put an end to all this…
Senator Josh Hawley recently said that the World Trade Organization should be abolished in order to have China pay for causing the coronavirus crisis.
“But in the early 1990s, with America’s principal adversary gone, Western policymakers were in a messianic frame of mind. President George H.W. Bush promised a “new world order” of “open borders, open trade … and open minds,” a new international system based on liberal values to bring peace to the world. He and other internationalists wanted a new economic system to match.”
“Take the World Trade Organization. Its mandate was to promote free trade, but the organization instead allowed some nations to maintain trade barriers and protectionist workarounds, like China, while preventing others from defending themselves, like the United States. Foreign agriculture won concession after concession, while American farmers struggled to get fair access to markets.Meanwhile, the W.T.O. required American workers to compete against Chinese forced labor but did next to nothing to stop Chinese theft of American intellectual property and products.”
“Under the W.T.O.’s auspices, capital and goods moved across borders easier than before, no doubt, but so did jobs. And too many jobs left America’s borders for elsewhere. As factories closed, workers suffered, from small towns to the urban core. Inflation-adjusted, working wages stagnated and upward mobility flatlined.”
“Enough is enough. The W.T.O. should be abolished, and along with it, the new model global economy. The quest to turn the world into a liberal order of democracies was always misguided. It always depended on unsustainable American sacrifice and force of arms. And its companion economic order has, in a similar vein, succeeded mostly in weakening American workers and industry.”
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Image Credit: National Review