Comments on Yu Yongding, CASS "The Trump test and the renminbi", 13/04/2017
Since Trump became the US president, people in some quarters have been talking about free and fair trade and the term has come to be topical.
It now seems gone are the days of America was the leader of the free world advocating and preaching for free trade and there was no mentioning of the world fair (presumably the Americans would have forcefully said free was fair).
How quick the world has changed! Where have the WTO rules governing international trade have gone?
Now we have a new version of the “Emperor’s new cloth” or a new version of the Chinese historic story of the Qin Dynasty where Zhao Gao created the case of “pointing at a deer and saying it as a horse”.
Isn’t the argument that China has been manipulate its currency to make it low to its own advantage the same as those tales? Are there any international economic justice existing now ta the present?
But to be more serious, could countries on the the receiving end of the Trump administration's new approach to international trade, investment and business, particularly those which will stand as significantly negatively affected, be able to challenge the new Trump doctrines at any international institutions and/or courts or tribunals? Or is this really the case where the strongest can bully others with no consequences at all?