We need to rescue globalization not just from populists, but also from its cheerleaders. ... Simply put, we have pushed economic globalization too far — toward an impractical version that we might call “hyperglobalization.” ...The world he describes has adequately defined nations, and their trade surplus will bounce around zero over the medium term. He mentions tow big ones, China and Russia, both of which are really multi-nations, as is the USA.
How does Dani expect a single group in DC regulate the terms of trade for some six different economies in the USA, with two languages, three time zones, four different founding philosophies,, a massive set of ports on two coasts, managed by four or five nations.and our major trading partner, Mexico left out. Our trading system starts in Panama, and end at the north pole crossing.
Nor does he mention that with trade balances hovering near zero, where does the USA get a steady stream of creditors to cover our DC debt?
The sum total of all the complicated fixes for our predicament sort of can be solved with one change, abolish the US Senate.
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