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How To Win A Trade War

By FiveThirtyEight

Trump says it’s easy. Try it for yourselfRead full story

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  • Chris Pham
    Chris PhamSenior Consultant at Deloitte

    Trade wars are not an inherent prisoners dilemma. Barriers to trade create inefficiencies by refusing to utilize another country’s comparative advantage- meaning free trade is king. This being the both parties cooperating scenario.

    I think the article is arguing a country captures most profit if they defect while the other cooperates. This is the prisoners dilemma, but this is not how trade works.

  • The only way to win a trade war is to avoid fighting one.

  • Ian Myers
    Ian MyersFounder at Country House Enterprises

    Trade wars are, by their very nature, a race to the bottom. There is not an example in modern history to point to when trade wars have had a positive outcome.

    I think this “winning” is actually Trumpian winning—where you lose, but believe that if you keep declaring victory, people see you as a winner.

  • I think that Americans are, by and large, honest people. I also believe that they are, by and large, naïve people. There is the almost uniquely North American desire to seek consensus and to believe that men of goodwill will come to consensus. I think Americans are always in for a rude shock that the rest of the world does not think this way. While I am a proponent of free trade, free-trade has to be free AND fair. One shouldn’t be lulled into a false sense of security by international contracts

    I think that Americans are, by and large, honest people. I also believe that they are, by and large, naïve people. There is the almost uniquely North American desire to seek consensus and to believe that men of goodwill will come to consensus. I think Americans are always in for a rude shock that the rest of the world does not think this way. While I am a proponent of free trade, free-trade has to be free AND fair. One shouldn’t be lulled into a false sense of security by international contracts and agreements. It is an accepted fact that China cheats and steals and violates agreements on a regular basis. They are an 800 pound gorilla that believes that they can do what they want. I do not think that it is a bad thing for America to remind the world, from time to time, but they are the 1000lb gorilla. It is good sometimes to remind a partner if they are not playing fairly that they can be excluded from the game.

  • Peter Green
    Peter GreenFounder at FoodMakers.NYC

    A great primer on just how trade wars work (or, actually, fail).

  • rafael Duncan
    rafael Duncan

    ok

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