“On a purely intellectual level, how does allowing China to constantly rig trade in its favor advance the core conservative goal of making markets more efficient? Markets do not run better when manufacturing shifts to China largely because of the actions of its government. Nor do they become more efficient when Chinese companies are given special privileges in global markets, while American companies must struggle to compete with unfairly traded goods.”

— Robert Lighthizer

LIGHTHIZER: Donald Trump is no liberal on trade http://www.washingtontimes.com/news/2011/may/9/donald-trump-is-no-liberal-on-trade/ (May 9, 2011)

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Robert Lighthizer 3

US Trade Representative 1947

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“Given the current financial crisis and the widespread belief that the 21st century will belong to China, is free trade really making global markets more efficient? Is it promoting our values and making America stronger? Or is it simply strengthening our adversaries and creating a world where countries who abuse the system - such as China - are on the road to economic and military dominance? If Mr. Trump’s potential campaign does nothing more than force a real debate on those questions, it will have done a service to both the Republican Party and the country.”

Robert Lighthizer (1947) US Trade Representative

LIGHTHIZER: Donald Trump is no liberal on trade http://www.washingtontimes.com/news/2011/may/9/donald-trump-is-no-liberal-on-trade/ (May 9, 2011)

“In a business world that is changing faster than ever before, the top performing firms create a stable base – they digitize their core processes and embed those processes into a foundation for execution. This stable foundation makes a company both more efficient and more agile than its competitors. With global supply chains, pressure for ever faster time to market, more complex regulation, and huge shifts in customer demographics and desires, companies cannot predict the future. But they can decide what makes them great. And then they can create a low cost, high quality core of stability and constancy in a turbulent world. With a strong digitized core great companies slide smoothly into the next opportunity while their competitors stumble.”

Jeanne W. Ross (1958) American computer scientist

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“Financial markets need to become less, not more, efficient.”

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“Wiko, a French phone company, went from concept to company when the founders were shopping for parts in Shenzhen (as one does). Wiko had trouble raising money—few investors believed a new European phone company could succeed—so they took an investment from the Chinese manufacturer Tinno Mobile. Wiko is thus mostly Chinese, both owned and supplied by Tinno, but given its thin veneer of French design and marketing it looks like a local firm to the French. The resulting excitement over Wiko as a homegrown business helped them to become the second largest phone vendor in France (after Samsung, as usual). This preserves the pattern of “designed elsewhere, made in China,” but with the twist that ownership, not just sourcing and manufacturing, has now moved to China as well.”

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“We will continue to pursue the strategy of boosting domestic demand and ensure fast and balanced economic and social development in China. This will create more opportunities for China-U. S. economic cooperation and trade. We will continue to advance the reform of the RMB exchange rate regime, take positive steps in such areas as expanding market access, increasing imports, and strengthening the protection of intellectual property rights, and further expand China-U. S. economic cooperation and trade.”

Hu Jintao (1942) former General Secretary of the Communist Party of China

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“Britain, as a relatively large economy which exports more to non-EU than to EU markets, would be better off trading freely with the single market than belonging to it.”

Daniel Hannan (1971) British politician

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“I hold that if companies are attacked simply because they are big then an attack on efficiency must be a corollary of that attack. If we penalize efficiency, how can we as a nation compete in the economy of the world at large?”

Alfred P. Sloan (1875–1966) American businessman

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“There are times when a company’s know-how, product range, and labor relations are in harmony with the world around it. The business situations are familiar, the company is well organized, and employees are trained and prepared. During those times, managers do not need to develop and implement new ideas. Their job is to allocate resources to promote growth and development, channeling capital and people to the parts of the organization best positioned to benefit from the current state of affairs. Those parts of the organization then become larger, better established, and more powerful.
But just when the company has organized itself, outside circumstances may change. New technologies come on the scene, markets shift, interest rates fluctuate, consumers’ tastes change, and the company must enter a new phase of life. In order to stay in sync with the outside world, it must be able to alter its marketing strategy, its product range, its organizational form, and where and how it does its manufacturing. And once a company has adapted to a new environment, it is no longer the organization it used to be; it has evolved. That is the essence of learning.”

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“The economic betterment of a nation which is at a low level of intelligence and culture, or in which the population is small in relation to the extent and productivity of its territory, is best accomplished through free trade with highly cultivated, rich, and industrious nations. In the case of such a country every restriction of trade, intended to plant manufacturing industry within its borders, is premature and injurious, not only to the welfare of mankind in general, but to the progress of the nation itself. Only when the intellectual, political, and economic education of the nation has so far advanced as a result of free trade that its further progress would be checked and hindered by the import of foreign manufactures and the lack of a sufficient market for its own goods, can protective measures be justified.”

Friedrich List (1789–1846) German economist with dual American citizenship

Introduction, in Hirst (1909), p. 312
The National System of Political Economy (1841)

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Robert Lighthizer 3

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