Episode 87: Why Do We Even Have Trade Agreements, Anyway?
Words & Numbers
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The Chinese Government Subsidizes Their Steel Exporters
When China subsidizes its steel exporters, we get steel at below cost prices. In effect, the Chinese government is forcing their citizens to pay for steel that Americans buy. When I want a new pen, I go to eBay like every other cheap person in the United States does. And when I find the pens from China, they're very inexpensive because their manufacturing system that they've got there yields this sort of outcome.
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