McCain, the attitude has been that any trade agreement is a good trade agreement.
The fact of the matter is that there is no good evidence that a higher yuan necessarily equals a lower trade deficit.
Yet this effort is based on a false premise: that freeing trade is good for you only if other countries do the same.
Which means that the size of the trade area is a good proxy for how much division, specialisation and thus benefit that you can get.
That is reassuring, but it does not mean that the use of trade measures to enforce core labour standards is a good idea.
The problem, however, is not that World Trade Center is an attempt to craft a feel-good movie out of a ghastly situation, it's that the result is forced, manufactured and largely, but not entirely unconvincing.
But that strategy can run into problems: Catherine Arnold at Credit Suisse First Boston wrote in a note to investors this morning that there is a good chance Plavix will run into problems with the Federal Trade Commission.
In a free market, health care is a good that you have to earn through voluntary trade.
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The lesson of the 1930s is that free trade, far from being a luxury affordable only when times are good, becomes utterly essential when times are bad.
Another good sign is the Senate passed a measure in December that would clear the way for Permanent Normal Trade Relations with Russia.
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The takeaway lesson is this: if you are an investor in an S corporation that conducts an active trade or business and is not engaged in the trading of financial instruments, this would be a really good year to meet one of the material participation tests!
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