24.2.06

O regresso das medidas anti-dumping (2)

Leave aside for a moment every economist’s suspicion of such tales of dumping; on close examination they almost never turn out to be true. Think, instead, of what is happening if it actually is true. The taxpayers of Vietnam and China are being gouged by their governments. This money is then - via the subsidy to manufacturers - being offered to us, the shoe buyers of Europe. We get a pair of shoes plus whatever the subsidy was to spend on whatever else it is we wish.

It is near insane that the peasant in the rice paddy be taxed to make us Europeans even richer. But if our rulers actually looked out for us, they wouldn’t slap a tariff on the shoes. No, the only rational response to such an offer of free money is that (attributed to) Calvin Coolidge. When offered his first pay cheque as US President he said to the Treasury messenger who brought it: "Thank you. Please come again."