politics

EU, Japan using stealth protectionism - study

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© (c) Copyright Thomson Reuters 2012.

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At times the entire finance sector seems like a giant ponzi scheme, with the Fed printing the funny money that keeps it afloat.

Deregulation brought that about.

-1 ( +0 / -1 )

What is the criminal finance sector?

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@SuperLib

In case you are referring to my comment, well, yes.

I take it personally as an American that academics from respected institutions are disseminating what amounts to scholarship that is blinkered, and fails to take the big picture into account apparently because it has a political agenda. And as the political agenda here relates to the criminal finance sector and their bought and paid for politicos--not to mention the utterly corrupt Federal Reserve System--yeah, I'll speak up.

Moreover, it is reported in a totally uncritical manner in the article, so the media is also complicit in not at least pointing out possible shortcomings of the studies.

As an American living and working in Japan (not in the criminal finance sector), my livelihood, too, depends on a sound economy in Japan, and I aim to try and contribute to maintaining that.

Here, that means engaging in the public discussion about such biased comments that seem to paint the US in a more favorable light than Japan (and the EU) when the content of the article has deficiencies that make it clear that is not the case.

-1 ( +0 / -1 )

Some people really take this stuff personally.

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The US brought on the financial crisis through a stealth strategy of deregulating the finance sector so it could serve as a neo-colonial economic weapon of mass destruction, is another way to look at the scenario.

Obviously nations that did not put their interests ahead of the transnational corporate organizations that these so-called scholars are basically mouthpieces for would be derelict in their duties as public officials.

taro67 makes a cogent point about the US being the world's largest currency manipulator. The Fed's sole stimulus policy has been so-called "quantitative easing", which serves to preserve the interests of corporate America and Wall St. by pushing down the value of the dollar, giving it a not so stealth advantage in trade, etc. The Fed has passed on every other option at its disposal because it would hurt the balance sheets of the banks.

Why don't these pseudo scholars discuss that phenomena? Do they consider the quasi-public institution of the Fed as being exempt from examination with respect to influence on macro level policy?

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National interests run high in trade and in politics, since when international rules can stop that?

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Ah yes, the old "consumers not wanting to buy garbage" stealth protectionist strategy US academics and diplomats have been trying to overcome for decades now...

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Well, if China practices flagrant protectionism, then the entire western economies investing there are more than dumb, and basroll is the wise guy.

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no mention of China and it's currency manipualtion

You do realize that the world's largest currency manipulator is the US, don't you? China's soft peg is a protection against the US currency manipulation. It seems that they do not wish to destroy their economy for the benefit of the US. They point out Japan's experience with the 1985 Plaza Accord as a reason to take this action.

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semperfiOct. 24, 2012 - 07:57AM JST

Oh please . . this is so funny because there is no mention of China and it's currency manipualtion coupled by other manufacture and trade disparities there . . .

Actually, there are no foreign companies in china, so they can't include them in the survey. All companies that do business in china are "joint ventures" with chinese companies, with the foreign companies putting in 90%+ of the money and know-how and the chinese companies getting 51% of the joint venture. There is no stealth protectionism there, it's flagrant.

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The European Union and its 27 member states generated more than a third of the policies identified by the study, and 93% of them discriminated against foreign competition, a slightly higher proportion than in Japan and the United States.

And yet the headline does not include the US which performed no better than Japan. It is almost embarrassing to have "Japan" as part of the name of this site.

2 ( +3 / -1 )

Oh please . . this is so funny because there is no mention of China and it's currency manipualtion coupled by other manufacture and trade disparities there . . .

-2 ( +3 / -5 )

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