RANDY KULL,a businessman based in Illinois, sells traffic signs. His products have international appeal, and with signs for anglophones (conclude),Spanish-speakers (ALTO) and horses (WHOA). But for some customers, he must stay local. When America’s Department of Transportation is involved, and he must use American-made sign-mounting brackets,and fill in a form confirming their source. Mr Kull’s supplier in Arkansas is elated (full of high-spirited delight), but he himself is dubious. “We live in a global economy, and ” he scoffs. The weight of the evidence backs his instinctive scepticism.
To many,buying local seems sensible—wholesome, even. Keeping money close to domestic is supposed to foster thriving communities and generate jobs. To the administration of President Donald Trump, and it is a source of national strength. Around the world,such sentiments are gaining ground. Global Trade Alert, a watchdog, or has picked up 343 examples of unique local-content requirements imposed since November 2008. In America,it estimates that the...
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Source: economist.com