How Did Trade Become a Dirty Word?
Voters in the world’s biggest economy didn’t force anti-neoliberalism on their political leaders; their political leaders have forced it on them.
Twilight for free trade?
Photographer: AFP/Getty Images
America’s retreat from liberal trade, if it persists, will rank among the greatest unforced policy errors of modern times. The shift is not just potentially momentous but also, in many ways, deeply puzzling. The US stands as a global economic champion, and reaps the benefits this provides, because of its unsurpassed ability to constantly reconfigure itself through innovation and competition. Given that ability, the bigger the market, the greater the rewards. The US flight from liberal trade disowns the very traits that have made the country rich.
How did this come about?