Technology and trade
competition can bring until domestic firms have the economies of scale, funding and expertise to rival behemoth multinational corporations.
Therefore, while much of economic theory seeks to persuade politicians of the aggregate benefits of increased international trade, it ignores the distribution of these benefits and the risks of their enjoyment, and is based on the flawed assumption that all countries will conform fairly to trade agreements on grounds of efficiency. While the solution to these problems may lie in an improved redistribution of the benefits of globalization, and further diversified supply chains, the west arguably no longer has the hegemonic power necessary to reform the global order and political ties in the face of fierce Chinese expansionism. Thus, disingenuous American claims of climate protection with regards to the IRA may not solely be a cover for an ulterior selfish motivation, but rather a reluctant renunciation of the post-war ideal of free trade that no longer has sufficient domestic or international support.
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