There is no point in mincing words. The Donald’s Phase I trade deal has nothing to do with MAGA or more jobs or a restoration of middle class prosperity in Flyover America. And it bears no relationship whatsoever to traditional GOP free market and sound money based economic policy.
To the contrary, it is statist and mercantilist through and through. It brings industrial policy and K-street based Trade Nannyism to the heart of the US economy like never before.
In essence, it is a deal struck between communist apparatchiks and K-Street lawyers—neither of whom have a clue that true wealth and prosperity come from market-based enterprise, not state concocted gosplans.
And this is a two-nation gosplan if there ever was one. It’s about the elevation of politics and the diminution of free markets to such a radical degree that it essentially makes the Trumpified GOP an agent of Big Government aggrandizement, thereby assuring that America’s on-going slump into economic stagnation will actually accelerate.
The dead giveaway is the ballyhooed paint-by-the-numbers precision of the deal. To wit, on a cumulative two-year basis exports of manufactured goods to China as supposed to rise by exactly $32.9 billion in 2020 and $44.8 billion in 2021 for a two-year gain of $77.7 billion.
That’s right. These paint-by-the-numbers fools didn’t even have enough common sense to round to the nearest whole number.