Aug 7, 2019
In a recent tweet, President Trump not only accused China of currency manipulation but also pressured the Federal Reserve to lower interest rate in order to weaken the dollar. But tariffs and currency manipulation are just part of the mercantilist tool kit that the president is using to create an import substitution regime in the United States. In the weeks episode, the Edifice of Trust host, Victor Bolles discusses how import substitution is an outmoded economic system that has been rejected by most advanced economies.