Fiscal policy in the service of the wealthy resulted in extreme inequality in the US that broke the country in half
A central element of American politics today is economic nationalism. It unites Democrats, who began questioning trade liberalization agreements with Hillary Clinton as harmful to the working class, and
A central element of American politics today is economic nationalism. It unites Democrats, who began questioning trade liberalization agreements with Hillary Clinton, which were harmful to the working class, and, of course, Trump, who is causing globalization in the name of alleged “genocide” (sic). Was suspended in America. Trade agreements with Europe and the Pacific and tariffs imposed on both European and Chinese goods.
Instead of improving that vision, Biden has deepened that gap. His so-called “foreign policy for the middle class”, as his national security adviser, Jake Sullivan, exposed in a recent speech at the Brookings Institution, framed an industrialization policy based on heavy subsidies, a desire to put America at the forefront Keeps Both the production of renewable energy as key elements for the technological revolution, at the cost of discriminating against European and third country products.
Behind this economic nationalism, which favors Made in USA and which aspires to prevent the rise of China, lies the mistaken view that globalization has harmed America, which is responsible for the increase in poverty and inequality Polarised, divided and weakened the country. , No man no! America has benefited greatly from globalization. What happens is that its political system, captured by the interests of the richest and most powerful companies, has failed its citizens. All commercial openings generate winners and losers, but this is where the state comes in to redistribute and compensate for its fiscal policies. This is something we have seen in Spain and across Europe, but it is something that has not happened in the US, where, in addition, annual defense spending remains at $877,000 million (more than the next ten countries combined). ) that overspending), to which is added the $2.2 trillion spent on the wars in Afghanistan and Iraq. America has the world’s largest, most innovative and competitive companies, the world’s largest military, and extreme inequality resulting from a tax policy serving the wealthy that has split the country in half. Don’t blame globalization.
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