The recent pause in US-China tariffs is part of a broader reconsideration of trade policies that have negatively impacted workers and the economy. While tariffs were initially thought to spur economic growth, they have instead destabilized markets. The article argues that returning to traditional economic policies is inadequate; instead, a new economic order is required that promotes inclusive development and addresses long-standing issues perpetuated by elite interests. Historic approaches to economic growth must be revisited to ensure a sustainable future for both developed and developing economies.
"A trade war cannot improve the lot of American workers, nor bring back manufacturing into the country. This strategy is merely a retreat from reality."
"The current global economic system, distorted by policies favouring the rich, has proven itself to be unsustainable. A new world economic order is necessary."
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