Subject: Wonkbook: How Trump could make America ‘the North Korea of economics’
From: The Washington Post <[email-masked]>
To: [email-masked]
Date: Mon, 9 May 2016 13:04:15 -0400

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Republican presidential candidate Donald Trump reacts to a song during a campaign rally in Terre Haute, Ind., on May 1. (Seth Perlman/Associated Press)
By Jim Tankersley
In his run for the White House, Donald Trump has threatened to slap tariffs on imports from China, in almost-certain violation of international rules. He has threatened to confiscate money that immigrants from Mexico wire home to their families, in order to force the Mexican government to pay for a border wall. This week, he suggested that, in an economic crisis, the government might repay only some of the money it owes to certain holders of its debt.
Those threats reflect an economic philosophy that is at odds with the traditional economic belief that markets cannot function well outside the rule of law. America has built 200 years of prosperity on a foundation of people agreeing to rules in business transactions, and then sticking to them. Trump appears willing to break those rules in the name of cutting better "deals" for American workers.
Trump's pledge to take extraordinary steps to help left-behind American workers has powered his campaign and made him the presumptive Republican nominee. But he has worried many economists, on the right and the left, who warn that breaking laws and commitments could undermine America's credibility with trading partners, raise its borrowing costs and potentially spark global financial panic.
Read the rest on Wonkblog.

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Chart of the day
Black and white residents of Chicago are basically living in two different cities, according to a new poll. Emily Badger has more.

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