Such an appalling thing to have to worry about

Trade. Just such a worry:

The UK is poised for an influx of cheap Chinese imports that could bring down inflation amid the fallout from Donald Trump’s global trade war, leading economists have said.

Those crafty foreigners make things cheaper than we can. Getting our things - cheaper - from those crafty foreigners reduces our own cost of living. Making us, obviously, better off. Apparently there are some who think this is all a bad idea. But, given that us all being better off is the very point of having an economy in the first place we always do find it difficult to understand why some are opposed to the idea.

Now, it is true that this is all happening as a result of Donald Trump’s tariffs over in the US. But here we’re interested in what we should do about it - the answer being, of course, nothing. We just have to sit here doing nothing and we’re going to be made better off by this river, flood, of cheaper goods. So, we should just sit here and get richer. QED.

Tim Worstall