Originally Posted by BroncoBeavis
Most of this is pretty much wrong, or at least the wrong emphasis. The major thing that happened is Asia started getting it's **** together, and we kept playing it like we were the only game in town.
Free trade has it's advantages, but you have to play that game with an eye towards competitiveness.
If you don't want to compete, you'd better keep those trade barriers up. Although that approach can only work for so long. Highest taxes in the world combined with MFN was a recipe for industrial collapse. Now we are where we are.
Asia improving economically caused Reagan to explicitly, and proudly engage in an economic strategy that funnels money to the upper 1%?