A New Economic Order is being constructed here in America, as dangerous to America’s future as the New World Order being constructed by China, Russia, Iran and North Korea. Permit me to paint with the broad brush of a house painter rather than with the more precise instrument preferred by the pointillistes.
Until recently, the world’s resources were allocated by markets, poorer countries with cheaper labour — think China — stocking the shelves of richer countries — think America — with consumer goods at prices that the consuming countries with higher-cost labour could not match. That system began to unravel when China decided the membership it had extracted from the World Trade Organisation was a licence to ignore its rules, and Donald Trump, a