ECONOMIC VANDALISM: A LETTER TO THE ECONOMIST (September 21, 2009)
Even though I am not sure what to make of your charge of “economic vandalism,” which strikes me as too woolly a term, I am with you in your despair with Barack Obama’s decision to slap a thirty-five percent tariff on imported Chinese tires (“Economic Vandalism,” September 19, 2009). Protectionism is never a good idea, but it is especially bad in a global recession. As you argue, if America does not support free trade, no-one else is likely to do so. Besides, a trade war between the world’s leading debtor and the world’s leading creditor spells disaster all around. The main worry is that a weak president, and Obama indeed appears to be a very weak one, can be pushed hither and thither on key issues that concern global economic health. If his fateful decision pandered to a single union, what else can we expect in the future? In this context, your strong language may help to get things straight. In that spirit, down with economic vandalism!