Michael Pettis

@michaelxpettis · Twitter ·

1/12 Oren Cass makes a very important point here. While most economists agree that trade intervention is always contractionary (i.e. it reduces the total value of goods and services produced by the intervening country), their agreement is based... https://www.understandingamerica.co/p/the-one-word-that-explains-globalizations?utm_campaign=post&utm_medium=web