Summers links congressional approval of the Clinton plan to grant China full trading rights in the World Trade Organization to the continuation of US prosperity. The umbrella labor outfit has paid for ads running against Senator John Kerry on the trade issue here in Massachusetts. They're going to make his paycheck diminish - and make it more likely his son will be in a war in Asia. Look at the WTO approval for China as a gigantic tax cut, he urged, reducing tariffs and moving more goods around the world for the benefit of more consumers everywhere. If I got it right, that means American workers tend to credit themselves for their increase in living standards and blame our trading partners for undercutting our products when things are going the wrong way.
Summers is full of optimism about the new opportunities for American workers.
David Nyhan is a Globe columnist. This article is protected under copyright law. The right to disseminate this article is also protected under copyright law. The copyright law permits copying of materials for personal use under the protection of fair use. This allows copying for educational purposes.