We’ve talked quite a bit about the prospects for global growth and trade over the past two weeks. Just yesterday we outlined Maersk’s warning about the state of global trade on the way to cautioning against the rising tide of nationalism, protectionism, and isolationism.
Some feel we are mistaken. Some think there’s still a chance to “bring back” American manufacturing jobs.” Those people are wrong. What we need is a policy that embraces change and delves deeply into how best to profit from that change.
Have a look at the following forecasts for global GDP from Goldman.
Enough said. Protectionism won’t right the ship. Sorry Donald. We need other solutions.