Summary of Matthew C. Klein & Michael Pettis's Trade Wars Are Class Wars

Please note: This is a companion version & not the original book. Book Preview:

#1 Before we can understand how to fix trade, we need to understand what trade is. I. What Is Trade. -> Before we can understand how to fix trade, we must first understand what trade is. Trade today looks nothing like it did before. Companies spread complex manufacturing supply chains across multiple countries to minimize taxes.

#2 People get more done when they specialize. International trade is simply an extension of this process across national borders.

#3 International trade is simply the extension of specialization, which was first described by the Italian merchant and economist Bartolomeo Visconti in 1277. Specialization is good for both Portuguese and English capitalists, but only if they can trade cloth for wine with each other.

#4 -> International trade is simply the extension of specialization, which was first described by the Italian merchant and economist Bartolomeo Visconti in 1277. Specialization is good for both Portuguese and English capitalists, but only if they can trade cloth for wine with each other.

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Rafbók: 15 september 2022