Free Trade, Unconditional
6 April 2006
Editor, The Wall Street Journal
200 Liberty Street
New York, NY 10281
Dear Editor:
Writing about China's alleged policy of artificially devaluing the yuan, Lawrence Lindsey says that "[t]here are losers, of course, most notably American producers of goods that are now made in China" ("Yuan Compromise?" April 6). I disagree. This policy's most notable victims are Chinese citizens forced by their government to subsidize Americans' consumption.
That said, prudence requires that America remain steadfastly open to foreign goods and services regardless of whatever foolishness happens abroad. Keeping Uncle Sam from battering his own citizens with protectionism is difficult enough; he can't be trusted with the additional requirement of rescuing foreign citizens from their own scurrilous governments.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, The Wall Street Journal
200 Liberty Street
New York, NY 10281
Dear Editor:
Writing about China's alleged policy of artificially devaluing the yuan, Lawrence Lindsey says that "[t]here are losers, of course, most notably American producers of goods that are now made in China" ("Yuan Compromise?" April 6). I disagree. This policy's most notable victims are Chinese citizens forced by their government to subsidize Americans' consumption.
That said, prudence requires that America remain steadfastly open to foreign goods and services regardless of whatever foolishness happens abroad. Keeping Uncle Sam from battering his own citizens with protectionism is difficult enough; he can't be trusted with the additional requirement of rescuing foreign citizens from their own scurrilous governments.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Monday December 18, 2006 at 7:36pm