Pander-nomicsIssue: Summer 2006
The U.S. Congress is on course for a dangerous slide down the slippery slope of protectionism, and a politically weakened White House is in no position to stop it. China is the lightning rod in this debate. As a senior Washington insider confided to me recently, "Concerns over China are boiling over in this town." While extreme actions on the tariff front have been deferred--at least for the moment--it is starting to look as if an even bigger train has left the station. The angst of worker insecurity is proving to have irresistible bipartisan appeal within the American body politic. The odds are rising that Washington will enact some form of protectionist legislation before the mid-term elections this November.