Chinese mercantilism is not free trade, but it is far better than American militarism.
There is no intrinsic reason African countries should be importing, rather than exporting, basic staples like rice or higher value products like frozen chicken, cooking oil, or instant noodles.
Mercantilism is based upon the idea that a nation's wealth and security depend upon its ability to regulate and control its external trade at the expense of others.
The strong point of England is her cheap goods.
Until Japan's economy drove off a cliff, there was a running argument in Asia about whether it would be wiser to follow the 'Japan model' - with its megacorporations, jobs for life, state control of strategic industries - or the 'American model' of largely unfettered markets.
Mercantilism was an insidious economic theory that held Europe in its thrall in the 16th, 17th and 18th centuries.
Finland is a rich country. What have they got? They got Nokia phones and plywood. How'd they get so rich? Because they're free.
Israel produces more conceptual products than any other country.
