Free trade is supported by enlightened thinkers and academic economists.  Those who are opposed to free trade are seen as special interests trying to shelter uneconomic industries that can’t stand up to foreign competition.  It is a truism that no trade transactions would take place if they weren’t to the advantage of both parties.  What could possibly be wrong with trade that is advantageous to both parties? If free trade is so wonderful, one has to wonder why many of our trading partners are resistant to it.  Perhaps these countries are just behind the times.  They may not have caught up with the latest economic theories from the University of Chicago.  For example, China has been the object of many trade complaints from the U.S. government.  The Chinese subsidize exports.  The Chinese engage in the wholesale theft of intellectual property – theft allegedly worth a hundred billion dollars per year.  It is not...(Read Full Article)