CARPE DIEM: Cartoon of the Day: A Classic from Henry Payne

Sunday, September 13, 2009

At 9/13/2009 7:57 PM, CompEng said...: Sponsored by the US Chamber of Commerce? :) That's certainly at the level that the man in the street can understand.
At 9/14/2009 10:21 AM, gettingrational said...: It is interesting that this is an old cartoon because today's reality about trade is not well known. The U.S. economy is dealing with a very different trading partner with Smoot Hawley like consequences. The new Smoot Hawley protagnosist is China's trade regime and few in this country now want to recognize it.

From the U.S. China Economic and Security Review Commission 2008 Annual Report to Congress are two sad conclusions:"China continues to violate its WTO commitments to avoid trade distorting measures."

"Over the past year China has adopted a battery of new laws policies that may restrict foreign access to China's markets and protect and assist domestic producers"

Why is this sad? Because of the destruction of economic opportunities for the Chinese and American peoples.

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.