0 “Buy American” Bailout Mandate Running Into Trouble
The phrase "buy American" has a nice ring to it, right? And some people are extremely pleased that the nearly-done bailout package has this provision included. But others are pointing out that some rather serious problems could result.
Suppose, for example, that every company helped by the bailout does buy American. Our economy will get a brief boost. Then, if countries like China and Russia follow suit with protectionist policies of their own, it'll get whacked again, perhaps worse than before. ...
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