My Authors
Read all threads
Interesting piece by @lajohnstondr on Jack Ma’s dream to “flatten” world trade. To the extent that this means reducing the role of large multinationals in favor of “millions of goods-trading mum and pop entrepreneurs”, it is a good thing, but...… via @@SOAS
...the biggest problem with world trade is that frictionless trade and capital flows encourage countries to improve competitiveness by suppressing wages. In that case a “flatter” global trading system could also be one in which income inequality is made worse and in which...
...more trading among “mum and pop entrepreneurs” is their desperate response to lower wages. More than a “flatter” global trading system, what we need is one in which countries cannot undermine domestic wages and social benefits and get away with it by dumping the...
...resulting excess demand abroad. Until we resolve this problem, reducing the frictional costs of trading is likely to make things worse, not better.
Missing some Tweet in this thread? You can try to force a refresh.

Keep Current with Michael Pettis

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!