Shanghai Daily, Feb.12, 2009 on page A6: Counsel of AllBright Law Offices in Shanghai wrote: "When the US imposed the Smoot-Hawley Tariff in 1930, it helped set in motion a worldwide movement toward higher tariffs. When everyone attempted to restrict imports,the combined effect was a much deeper economic slump and it took many decades to unravel the accumulated trade restrictions that characterized that period. US lawmakers should reflect upon this." I agree with such wholeheartedly as an economist and I advocate free trade for mutual benefit to honor the Law of Comparative Advantage as I sent my previous blogs.
In an op-ed in the Wall Street Journal dated Feb.6, Princeton University Professor Burton G. Malkiel laid out his case against the "Buy American" provision inserted in the stimulus package.
Francis Shieh, an educator in the field of Economics on February 13, 2009 at 6.08 a.m.
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