The new pick for U.S. trade representative, Robert Lighthizer, recently signaled the new administration’s get-tough approach to China over trade issues.
The new pick for U.S. trade representative, Robert Lighthizer, recently signaled the new administration’s get-tough approach to China over trade issues.
We know that the global banking system is riddled with corruption (‘vulnerable’ to corruption may be more polite), some authored by its own principals, some embraced opportunistically by financial insiders to snatch sudden profits, a great deal ushered into the world’s financial system by bankers in search of the commissions and corporate profits that ‘high net-worth customers’ (in many cases, money launderers) bring in. And sometimes the bad guys exploit legitimate financial service providers. But the question remains, and it turns on the distinction between deregulation and irregularity, between fair play and laissez-faire, between the right of the ‘haves’ to have still more, and the right of the people to real economic protection under the law.
At what point does financial entrepreneurship turn criminal, and how blind an eye is the US prepared to turn toward banking practices that clearly prosper the powerful and imperil the growing ranks of the poor, in the United States and across the world?