Reply #108: Of course our trade numbers would be better, [View All]

[Duct Tape]

that's how they like it. Tons of imports and very few exports. Notice how almost everything says made in Taiwan or China? How many people in China and Taiwan do you see using products that say: "made in the U.S."? Expanding markets are not always great. I agree an equitable society does not come simply from protectionist policies but the policies sure do help. I find it interesting that you mentioned unionization because as I said before less South Korean workers are unionized than American workers.

We've all heard this "let's level the playing field" argument time and time again. The only thing trade liberalization does is screw American workers and help corporations earn more profit.

To answer your first question, it would be better to maintain the status quo because we can't afford to lose anymore jobs. South Korea doesn't mind liberalizing trade with the EU or America because they know that no profit-oriented business would move from SK, therefore they can afford this change in policy. What you don't and won't see is South Korea liberalizing trade with Taiwan. Sure they are giving Taiwanese exports preferential tariffs, because they want to encourage trade with China, but they sure as hell aren't shooting for a free trade agreement. The moment they do, their economy will start slipping and they will lose the growth their economy experienced from protectionist policies in place since the 1960's.

Proponents of free trade know that South Korea is their strongest case because they can point to SK's success while ignoring their history or trade barriers and because it's much harder to find positives in the deals with Panama and COLOMBIA.