Professor Thomas Hout calls for a cap-and-trade system to help reduce the United States’s trade deficit with China and rebuild domestic production.
Middlebury Institute professor Thomas Hout, whose expertise includes China and global industrial competition, recently published an article in Harvard Business Review entitled “A New Approach to Rebalancing the U.S-China Trade Deficit.” Hout argues for the United States to implement a cap-and-trade system, like the one for greenhouse gas emissions already found in many countries, to help reduce the country’s trade deficit with China and rebuild domestic production. According to Hout, such a system would be both more successful than tariffs and insulated from political favoritism and bureaucracy.
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