International trade and protectionism makes for strange bedfellows and unpredictable policy positions. Take this video, for example.
Larry Kudlow is one of the most vocal libertarian, free market advocates on cable news. Barney Frank was one of the most vocal liberal Democrats in Congress. Guess which one wants sanctions on the China as Chinese capital tries to spend nearly $2 billion to buy New York's Waldorf-Astoria Hotel?
Now, to be clear, the issue is not solely capital flows for the person advocating sanctions - it is linked to cybersecurity and punishing China for hacking incidents. Recall the St. Louis Fed piece on the slippery slope of protectionism using "national security" logics? Ask yourself if it is playing out in real time.
[Random W&L reference: the host of the discussion is now-rather-famous (in financial journalism circles) recent grad Kelly Evans, '07.]
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