Yellen Junks 200 Years of Economics to Block China Clean Tech


The Treasury secretary’s plan is a protectionist disaster that will impede the path to net zero.

Step back for a moment, and the suggested policy change is remarkable. 

One of the most distinguished living economists is rejecting what’s been one of the most fundamental principles of economics for more than 200 years: comparative advantage. 

If a country can manufacture goods at lower costs than you can, you shouldn’t raise tariff barriers. Instead, you should import the goods, and send back something in return where your industry is more efficient.

Yellen herself appears to recognize the disconnect. 

“People like me grew up with the view: If people send you cheap goods, you should send a thank-you note. That's what standard economics basically says,” she was quoted as saying in an interview with the Wall Street Journal last week. 

“I would never ever again say, ‘Send a thank-you note.’”

Nvidia Corp. to add nearly $2 trillion to its market capitalization since the start of 2023, despite the fact that at this stage no one is really making money from the artificial intelligence its chips can facilitate.

David Fickling Bloomberg 8 april 2024

E-jättarna Tiktok, Shein och Temu skickar 108 Boeing-plan med 5,8 miljoner paket från Kina till konsumenter i väst. 

Varje dag.

Temu har 467 miljoner användare i 50 länder, vilket gör bolaget till nummer två i världen efter amerikansia Amazon.

Fed's Yellen expects no new financial crisis in 'our lifetimes'

That’s an unusually bold statement for any Fed leader, much less the chair.

Patrick Watson at John Mauldin 3 July 2017

Janet Yellen


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