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Richmans' Trade and Taxes Blog
Newt Gingrich on Trade
Ian Fletcher, author of Free Trade Doesn't Work: What Should Replace It and Why, had a piece in Friday's World Net Daily (Newt Gingrich: Free Trade Kool-Aid Drinker), in which he discussed Newt Gingrich's positions over the years on trade.
Gingrich, for example, supported President Clinton's decision to give China "Most Favored Nation" status and let China into the WTO without requiring any balance in America's trade relationship with China. He quotes the following Spring 2001 interview that Gingrich had with PBS:
Gingrich did not understand Chinese mercantilism when he gave this interview in 2001. The goal of mercantilism is to delay consumption in the present in order to get increased consumption and power in the future. They give their trading partners increased consumption in the present followed by reduced consumption and power in the future. (For more on this topic, see our article The Scaled Tariff: A Mechanism for Combating Mercantilism and Producing Balanced Trade, just published by the peer-reviewed Journal of International Law and Trade Policy.)
Unfortunately, Gingrich still doesn't understand mercantilism. Fletcher points out:
Fletcher has more hope for some of the other Republican candidates for president. He writes:
Gingrich could still study up on this issue. If not, then his presidency would fail for the very same reason that the presidencies of GW Bush and Barack Obama failed: because of a failure to require balanced trade. Hopefully Republicans will nominate a candidate whose presidency could actually succeed.
Comment by ChasVoice, 11/28/2011:
The Newt and Romney are Consigliares in the CFR
The Irrelevance of the Republican Partyhttp://chasvoice.blogspot.com/2011/11/irrelevance-of-republican-party.html
Comment by M, 11/29/2011:
It's hard to know exactly what Mr. Gingrich is thinking (ever). He's a one man idea machine, who never (ever) shuts up. One of his earlier brilliant ideas, (and his idea are all brilliant- just ask him) was to eliminate adolesence in the USA. (I was tuned into public radio and listened to him bloviate on this nonsense a few years ago.)
Newt Gingrich is like a political psychic... he makes a lot of non-senseical statements, but the media rarely (ever) calls him out on his B.S.
Comment by HumorSeeker, 12/7/2011:
Great participation here, and some very funny comments.
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