Trump has turned his back on the foundation of US economic might

Here in Britain this remains a cornerstone of the junction between politics and economics. Most of the world still believes in comparative advantage. It is the intellectual core of globalisation.

Globalization did not result in each country of the world sharing in the production of the world's goods, and sharing equally in the growth and improvements in living standards, it resulted in China becoming the world's producer, making them much wealthier and elevating them to the status of a super power.

The economic "might" of the US over the past half century has been based on the fact that we have the defacto world reserve currency and still have the world's largest military. We don't produce very much. We import a lot. If one of our companies does develop some important new technology, the products themselves are more than likely produced in China, or in some other foreign country. Advanced semiconductors are fabricated in Taiwan, using high tech lithography machines developed by a Dutch company. The only thing we specialize in is financial speculation and buying a whole lot shit, most of which is imported.