Elizabeth Warren’s proposed wealth taxes will have devastating consequences on capital formation, and will encourage investors to hold riskier assets than they otherwise would have.
In the second half of the twentieth century, pro-union and anti-trade policies led to a Rust Belt that became uncompetitive, costly, and unable to cope with reality. More protectionism won't save the region now.
"Here's the problem. If you give government a job to do, even one that seems justified in the abstract, it will use its power to make a terrible mess in practice."
Huawei’s 5G global ambitions, coupled with the global trade effort known as the "Belt and Road Initiative" means the US government is motivated to undermine Hong Kong's monetary stability.
