Made in China

This was not written by me, but I find it very insightful and relevant to our current economies. I stole it from here:

What you free trade types eternally fail to grasp is that people aren't nice, don't always play by the same rules, and frequently use their economies to damage each other. To me, it seems like you have a rose-colored world view that is simply not borne out by history and current events. Yes, competition is good, it keeps companies on their toes, and certainly excessive protectionism has negative consequences in that regard. No argument from me there. But you have to understand, the converse also has negative effects. That's especially true when dealing with a culture and economy such as China, which doesn't have the slightest conception of Western business ethic, and sees nothing wrong with eliminating the competition by any means whatsoever. Very efficient from their perspective, downright disastrous for us.

I have news for you: raw industrial efficiency is not the only measure of a successful economy. How a nation's economy provides for its people, long term, is an equally important metric. I would say, a far more important one. Throwing away domestic manufacturing in favor of cheap imports from inimical foreign powers is not a good way to serve the needs of your people. In fact, free trade, so far as the United States is concerned, is doing exactly the opposite. We are transferring massive amounts of money to China in exchange for cheap imports, while simultaneously losing the ability to provide for ourselves. What good are these customers of whom you speak, when there are no longer any American producers of those products? Explain to me how this is good, how it grows our economy?

The original poster in this thread was correct: if you have any sense of self-preservation whatsoever you protect your key industries. If you don't, and someone takes them away from you (as is happening with virtually every manufacturing sector in the United States today) you are vulnerable at every level. I'm not saying that means exclude all foreign competition, but it does mean that you make damn sure that foreign competition isn't allowed to operate in a predatory manner. Unfortunately for us, our government and corporate leaders sold us out for a song. Now, I don't know exactly what's going to happen over the next few years, but if what I read about American manufacturing being down to 1950's levels is even close to being true, we are in deep shit.

This is not a joke, this is not some philosophical issue with no real-world effects: when a major economy falls people get hurt. Ours is heading for a fall of Biblical proportions, and it's you Free Traders that will bear a significant responsibility for that event.