business

IMF warns of rising risks to global growth amid trade tensions

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By Heather SCOTT

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This must come as good news to the 'anti-globalist', GoTrumpers who've been saying all along they want the world's economic establishment brought down.

Question for them: what system do you have ready to replace the existing one?

And seriously, do you really believe that the world's richest and most powerful individuals, i.e. the ones you've been railing against, won't just gain even more control if chaos is the result of bring the establishment down? After all, they control the weapons.

One more: if Putin is the richest man in the world as some claim, and given he's one of the few people able to control gas and oil markets, arguably the 'globe's' most important resource, how is backing him different from backing whichever 'globalists' you've been so afraid of? He and his bund of oligarchs will just have even more power.

Pete TownHend's '...meet the new boss....' comes to mind. But if it's Putin who's boss, I think he'll be worse than the old boss.

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Question for them: what system do you have ready to replace the existing one?

A national industrial policy. Japan had one during the postwar era,and China and S. Korea have them today. Germany has always had one.

Identify key strategic industries, protect them from foreign competition, subsidize them, work in cooperation with them in areas like apprenticeships and cheap financing, and then ultimately flood foreign markets with your homegrown products.

The US has let "the markets" determine its fate since the mid-80s. The result is an ongoing deterioration of its industrial base and stagnating real wages.

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