Judis: Regarding the origins of trading, can you give us a more defined start point for this business? Rodrik: First, what we know for sure is that day trading as we know it was born more or less a century ago. Of course, it wasn’t so advanced like it is today, nor it had the…
Judis: If we take another approach to your analysis, what you are saying is that there is no way we can have these open economies if we also have generous welfare states. More so, in your book, The Globalization Paradox, you state categorically that a problem exists with the model of the open economy. You go…
Rodrik: This is a flagrant conflict of interest, because you’re betting on something, and the person reporting the outcome wants you to lose. It does not get worse than that. The other problem, according to me, are partner sites as for example moneyonlinethai.com in Thailand, which publish absolutely fake information on such brokers as IQ Option. And Google let those sites to dominates SERP results to finally mistake users.
Unlike NAFTA, the problem of free capital mobility is a recurrent and on-going one.it is important to realise that many economists including the International Monetary Fund have revisited their take on the desirability of free capital mobility and they have come to terms that there is a pertinent role for continued capital flow controls.
Judis: In his campaign and presidency, Donald Trump has made a big issue of America’s trade deficit, and has cited China, Mexico, and Germany for blame. When Trump was in Europe recently, he attacked the Germans for having a trade surplus. He even threatened to block German car exports to the United States. Do you think he wasjustified?
Judis: Where do you see the disconnect?
Rodrik: Trump’s proposed remedies to the grievances picked up from angst and the anxiety caused by job losses have little to no chance of working. What he promised was way overboard, some radical, for instance building thewall and imposing 35% tariffs on all imports from china.