The Deceptive Promise of Free Trade | DW Documentary

Global trade is a hot topic of the G7 summit in Canada. Is free trade truly free - and fair? What roles do US President Trump, economic powerhouse China, and the EU play in global trade?



At one point they say protectionism was bad, citing the 1930s, but you can see that it's generally not bad at all. I'm pretty sure they mischaracterised what was going on back then. Globalism is the bad idea. In Africa, in the last section, you can see their domestic farming industry being destroyed by cheap European imports. Economies should be all about local jobs and self sufficiency. A globalised system also suffers if one part of the system fails, like a ship with no water tight doors. When one section fails everyone fails. It's better to have a lot of redundancy in the system. 

[Posted at the SpookyWeather2 blog, June 11, 2022.]