An Unbalanced View Of Trade
"Trade: Why the experts are wrong" (Editorials, June 5) suffers from an overdose of political correctness. In demonizing Japan as a mercantilist nation (surely news to the many U.S. and European companies doing business there) and in identifying the U.S. as the champion of free trade (see the U.S. Tariff Code--two volumes and 8,000-plus tariff rates), you endorse an exercise in blatant protectionism and an increasing xenophobia in the U.S. Further, you attack economic theory as saying nothing about causation in the case of low U.S. national savings rates, high budget deficits, excessive consumption, and the trade deficit.
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