The Case for Being Economically Dependent on China

Source: Foundation for Economic Education
by Patrick Carroll

“That word [‘dependence’] is really convenient for anti-free-trade advocates, because it just sounds bad. It’s like calling fossil fuels an ‘addiction’ or saying that someone who wants to reduce military spending is ‘soft’ on defense. The fact is, rhetoric can be powerful, and the word ‘dependence’ is one of those powerful words. It conjures up feelings of vulnerability and weakness. That can’t be good, right? Wrong. There are plenty of contexts where economic dependence is awesome. Consider your relationship with your local superstore. You depend on them for basic necessities. Is there a risk they could turn on you, leaving you to fend for yourself? Sure. But that’s not a good reason to aim for self-sufficiency.” (07/29/22)