> In any event, the world political economy has changed, undermining
>the political basis for "protectionism"
Jim, I check the archives often, and have learned a great deal from
your posts. Not sure I agree here. Wouldn't the US state like to
run a trade deficit to its own mnc's and thus accept imports from
where its mncs are deeply integrated at the expense of other
countries? There seems to be some basis for such a neo mercantalist
trade policy. In the case of China--seemingly a platform first and
foremost for Japanese mncs-- the US accepts imports probably not only
because their own mncs are involved directly or as subcontractors but
as a quid pro quo for access to the massive internal Chinese market.
But it seems to me that neo mercantalist state may be alive and well.
Don't know how far the state has retreated.
Best, Rakesh
