trade

6:00PM
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Largely peaceful demonstrations in Ottawa and Calgary put the lie to the old line that the police are responsible for anti-globalist violence. Police in both cities seemed euphoric that the demonstrations were peaceful. It`s hardly pleasant to get dressed up in riot gear, face screaming crowds, suffer flying projectiles - rocks, bottles, ball bearings, even Molotov cocktails - while trying to protect other citizens and property.

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2:00AM
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Every time a trade battle breaks out, I get a frightful sense of déjà vu from an era I know only from history books. US trade action on steel evoked that sense of déjà vu.

The world enjoys largely free trade now, at the beginning of the 21st century, as it did at the beginning of the 20th century. But, in the opening decades of the 20th century, the first modern era of globalization came undone, as trade skirmishes turned into a full-scale trade war.

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