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Fixing Global Trade: Why Tariffs and Trade Wars Aren’t Enough

The World Unpacked

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Flaws in Global Trade Dynamics

This chapter examines the shortcomings of the current global trade system, emphasizing how nations manipulate the trade balance rather than adhere to true free trade principles. It explores Germany's labor reforms and China's significant role in shaping trade dynamics, highlighting the consequences of trade surpluses on domestic welfare and international relations. Furthermore, the discussion critiques tariff policies and underscores the complexities surrounding the U.S. as the 'consumer of last resort,' advocating for a comprehensive approach to global trade challenges.

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