It is Black Friday, and American consumers are going to rush today to buy goods made in China. I hope that everyone finds good deals. In related news, Kevin Williamson wrote an informative article in the National Review a few weeks ago, “Red Scapegoat.” Williamson rejects the theories that blame America’s economic woes on China. I recommend that you read it; it differs considerably from the views of economic nationalists.
I find these issues beyond baffling, and I remain rather agnostic on trade policy. Economics truly is the dark art.