Red Herring
middle-class woman of a certain age
- Joined
- Jun 9, 2010
- Messages
- 7,906
- MBTI Type
- INTP
- Enneagram
- 5w4
- Instinctual Variant
- sp/sx
Let me transcribe and translate a snippit from (German minister for the economy) Robert Habeck's press statement shortly after the Trump tariffs were announced:
Allow me to say that we should not make the mistake of sharing Donald Trump's basic assumption. Because it is wrong. What Trump is trying to make us believe and demonstrate with his numbers is that there is such a thing as a trade surplus or trade deficit. That, for example, Germany is selling more goods to the US than the US is selling to Germany and that this is to the detriment of the US. That's his logic and then he goes through a list of countries. But that is wrong. It is wrong in every way. Globalization means that we are working collaboratively around the world and we all benefit from it overall. One of the biggest beneficiaries of globalization is the US. Over the last few years, calculated since 2010, roughly, the US has enjoyed significantly higher GDP growth than Europe. That they don't distribute this fairly within their country, that's their own domestic policy problem. But it is simply wrong, economically speaking, that this world which was built up in the 1990s after the confrontation of the blocks works to the disadvantage of the US. It is untrue and if we buy into it we have already made our first mistake.