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The single best idea on an important twenty four hours for America. Of course, at four pmsh this afternoon, the President of the United States, we'll come up with a hugely anticipated adjustment to how we speak on trade to our international friends, romans, countrymen, enemies as well. It is called trade. It will be fascinating and we'll dive into that the specifics of it tomorrow. What we did today. Tomorrow, I should say we have Douger went On from Dartmouth,
who's definitive on the American history of trade. We started strong today with Justin Wolfers at the University of Michigan, but first off of a terrific op ed in the New York Times over the weekend. I'll try to get that out on Twitter and LinkedIn today. Jason Furman here Furman of Harvard on this moment for America.
I'd add a longer term one, which is geopolitics. The United States is a big, important country. It is not infinitely big, It is not infinitely important. China is also a really, really big player in the world. The only way we can confront China is by doing it together with allies, and if we alienate our allies. There's a lot more countries that trade more with China than with
the United States. We're just going to push that further and help realign global geopolitics away from the US alliance and towards a Chinese entant.
Jason Furman, of course, he studied with Martin Feldstein at Harvard years and years ago. Someone else out of the past of Harvard. Justin Wolfers is a kid in Sydney, Australia, did better than good in school and parachuted into Harvard. He had the honor of a PhD there with a giant Alberto Elisina and Olivier Blanchard, which is just an extraordinary PhD. Experiments Professor Blanchard were trying to get on. He's been on fire about this trade debate. He's without
imposing at the Peterson Institute. Here is Justin Wolfers of Australia in the University of Michigan on this American moment.
Two insights I've gotten from talking to folks around the world. One, the entire world is looking at this, and the entire world is worried about this. It's the front page of the Aussie newspapers and in Canada it's been the front page for several weeks now, so they're terrified. Now let me tell you what I tell the Aussies. There's eight billion people in the world. Trump is effectively taking three hundred and forty million of them and isolating them from
the rest of the world. So what that means for the Aussies is there's still seven point six six billion people left to trade with. It's the Americans that this is really going to hurt, and in some sense for a small country like Australia, this may be opening up opportunities. The folks who are no longer going to be selling to the US or buying from the US are going to be looking for trading partners elsewhere, trusted trading partners, and that's what the Aussies are.
Justin Wilfers the University of Michigan will continue this story on international relations it's effect on economics, finance and investment in the coming hours and days, as well on YouTube podcasts across the nation around the world. Is a single best idea