Daily Archives: May 23, 2020 at 07:56 am EDT

Book Bits | 23 May 2020

Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace
Matthew C. Klein
Excerpt via Barron’s
The open global trading system has been in trouble for years. The coronavirus could push it over the edge, and if we’re not careful, the world could see a breakdown of the international economic and financial order, as happened in the 1930s.
The most obvious impact of the virus on trade is that Covid-19 has forced governments, businesses, and consumers to appreciate the vulnerabilities created by global supply chains. Shortages of everything from meat to disinfectant wipes and face masks have been exacerbated by export controls imposed by China, Europe, and other producers.
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