WSJ/NBC poll shows that about35% of Americans are for and against free trade around 2000. Now above 50% of people are against free trade, whereas less than 20% of people are for free trade.
http://online.wsj.com/article/SB10001424052748703466104575529753735783116.html?mod=WSJ_hps_LEFTWhatsNews
In comparison, in the policy circle, the majority of pundits are still for free trade. What's the problem here?
The problem is about the definition of free trade. Trade is not free unless your trading partners do not manipulate exchange rate, repress compensation, run ultra low or negative interest rate, subsidize exporters with substantial sums. I am not hinting at just China, but all the whole East Asian region and Germany. If the current trade system is "free trade" system, Americans are rightly rejecting this fake system. Without righting the wrongs in this system to make trade really free, this current trade system is bound to collapse in less than 10 years, and likely shorter period of time.
When that happens, the bulls on emerging market stocks and debt should be ready for some real rock and rolls. That is the weakest link of the whole recovery thesis and emerging market emergence thesis. If there is some way to bet on this collapse, I would be most interested in it.
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