The Benefits of Imposed Protectionism

The Russians have learned there is nothing to fear from Western sanctions:

Vladimir Putin ‘doesn’t give a s**t’ about the risk of Western sanctions if it were to invade Ukraine, Russia’s ambassador to Sweden said as US staff began withdrawing from eastern Ukraine amid warnings of an ‘imminent’ invasion.

In an outspoken interview, Viktor Tatarintsev told the country’s Aftonbladet newspaper that ‘the more the West pushes Russia, the stronger the Russian response will be’.

He claimed Russia had become more ‘self-sufficient’ amid the threat of sanctions and accused the West of not understanding his country.

‘We are more self-sufficient and have been able to increase our exports. We have no Italian or Swiss cheeses, but we’ve learned to make just as good Russian cheeses using Italian and Swiss recipes’, he said.

There is nothing that a big, resource-rich country needs from trade. Indeed, every nation large enough to be self-sufficient will be much better off, over time, by refusing to trade with the rest of the world. The USA has been impoverished, and is now debt-ridden, due to its foolish embrace of free trade and the Ricardian lie.

It’s only a matter of time before China and Russia cut economic ties with the USA. And that will harm the USA, and the West, far more than it harms the rising world powers.

DISCUSS ON SG