by Summary:
The long and short is the story that the pandemic taught us some lesson about relying on China is utter nonsense, with no foundation in reality. In this way, it is very similar to the story about how we risked a Second Great Depression in 2008-09 if we didn’t save the banks. In both cases the story was nearly universally accepted in policy circles, although no one could coherently argue the case. And, in both cases the story advanced the central policy concern of people in Washington, making the rich richer. Beat the PressNonsense About China that “Everyone” KnowsDean Baker | Co-director of the Center for Economic and Policy Research in Washington, D.C
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The long and short is the story that the pandemic taught us some lesson about relying on China is utter nonsense, with no foundation in reality. In this way, it is very similar to the story about how we risked a Second Great Depression in 2008-09 if we didn’t save the banks. In both cases the story was nearly universally accepted in policy circles, although no one could coherently argue the case. And, in both cases the story advanced the central policy concern of people in Washington, making the rich richer. Beat the PressNonsense About China that “Everyone” KnowsDean Baker | Co-director of the Center for Economic and Policy Research in Washington, D.C
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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The long and short is the story that the pandemic taught us some lesson about relying on China is utter nonsense, with no foundation in reality. In this way, it is very similar to the story about how we risked a Second Great Depression in 2008-09 if we didn’t save the banks. In both cases the story was nearly universally accepted in policy circles, although no one could coherently argue the case. And, in both cases the story advanced the central policy concern of people in Washington, making the rich richer.Beat the Press
Nonsense About China that “Everyone” Knows
Dean Baker | Co-director of the Center for Economic and Policy Research in Washington, D.C