For years, free trade’s critics have been at pains to refute an assertion that no one in their right mind has put forward: the idea that international commerce is a surefire recipe for peace.
“Surefire” may be too strong a term, but I’d say the threat of economic collapse from international sanctions is an important reason why China hasn’t invaded Taiwan and the fact that the Soviet Union depended on us for grain similarly probably kept their belligerance in check.
I’m old enough to remember when the IBM Building in New York had an immense sign painted on one side that said “World Peace Through World Trade.”
Nor was the idea particularly original with them.
In the realm of the history of US foreign policy, “Hamiltonian Commercialism” is one of the recognized schools, alongside “Jeffersonian Pacifism,” “Wilsonian Interventionism,” and the more controverted “Jacksonian” view.
Forgive me for trying to justify Trump who is a bull in a china shop, but it sure looked like we were slow-walking into a risky situation with China. My previous view, and I do not know where I stand now, was that we kind of needed to shake our allies out of their stupor as we could not do it without their full cooperation which did not seem to be coming.
Trump did succeed in shaking people up, but as of right now, I cannot say it accomplished anything positive. Still, I liked Bessent and hope things work out.
“Surefire” may be too strong a term, but I’d say the threat of economic collapse from international sanctions is an important reason why China hasn’t invaded Taiwan and the fact that the Soviet Union depended on us for grain similarly probably kept their belligerance in check.
Hope to hear more from you.
I’m old enough to remember when the IBM Building in New York had an immense sign painted on one side that said “World Peace Through World Trade.”
Nor was the idea particularly original with them.
In the realm of the history of US foreign policy, “Hamiltonian Commercialism” is one of the recognized schools, alongside “Jeffersonian Pacifism,” “Wilsonian Interventionism,” and the more controverted “Jacksonian” view.
Forgive me for trying to justify Trump who is a bull in a china shop, but it sure looked like we were slow-walking into a risky situation with China. My previous view, and I do not know where I stand now, was that we kind of needed to shake our allies out of their stupor as we could not do it without their full cooperation which did not seem to be coming.
Trump did succeed in shaking people up, but as of right now, I cannot say it accomplished anything positive. Still, I liked Bessent and hope things work out.