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Micah Blalock's avatar

Amazingly insightful of the unboundedly stupid!

Alex Tolley's avatar

Sometime around 1990, while Japan was still doing well, I recall Robert Reich posing the this question to audiences:

Would you prefer the US grows at 3% and Japan at 4%, or the US grow at 2% and Japan lower than teh US?" (I paraphrase and teh numbers are only approximate to illustrate the issue.) He noted that audiences preferred the latter, that the US maintain economic superiority over Japan. Now his audiences where low information Trumpists, but rather educated Americans. Nevertheless, they were prepared to scarifice their better increase in teh standard of living to ensure Japan did no eclipse the USA.

I contemporary conditions, this implies that Americans would prefer to raise tariffs and reduce Chinese imports to try to hobble China's economic growth. Interestingly, I am not sure that I would disagree with this in China's case given their anti-democratic stance and possible aims for eventual global hegemony. So maybe I would, given the chice, punish myself if it hurt China more. If China was a democratic country with a similar global; view as ours, then I would not, as it would take over the role from the USA in a Pax Sinica, much as the Pax Americana took over Britain's role as a Pax Britannica.`]

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