Wall Street Journal (February 27)
2026/ 03/ 01 by jd in Global News
“Economics 101 teaches that international trade is all about comparative advantage.” Specialization and trade result “in everyone getting more of everything.” This theory “no longer guides global trade. Instead, what’s happening looks more like portfolio theory. Countries are no longer maneuvering to maximize gains. They’re diversifying to minimize losses. The risk they’re hedging against? The U.S.”
Tags: Comparative advantage, Diversifying, Economics, Hedging, International trade, Maximize gains, Minimize losses, Portfolio theory, Risk, Specialization, U.S.
