Enzio von Pfeil examines the profound misunderstanding that exists in today's mercantilist thinking about trade balances and how it is causing a misguided hate campaign against nations like China for allegedly "taking away US jobs." Trade Myths illuminates how this antiquated viewpoint leads to misleading rhetoric, affecting policy debates and contributing to the prevailing toxicity in international relations, especially between the US and China.
Enzio von Pfeil's key insight is the role of America's successful multinational corporations in creating her visible trade deficit by shifting production overseas. He also dispels several other popular myths, including the ancient beliefs that imports destroy jobs, exchange rates drive trade, and that trade deficits inherently are "bad."
Galvanized by his own global background spanning the US, Europe as well as Asia, and extensive experience as a seasoned international economic adviser, Enzio von Pfeil’s book is a must-read for those looking to understand the true dynamics of today’s international trade.
Trade Myths will serve as a significant policy resource, especially in the context of current US-China relations, offering new perspectives on global trade. It is designed to contribute constructively to the policy debate by debunking dangerously simplistic notions and, instead, by presenting a nuanced understanding of the factors that drive today’s trade flows.
Trade Myths: How American Multinationals Create America's Trade Deficit is available in paperback and audiobook. It reshapes how we think about trade deficits, jobs, and the global economy. It reshapes how we think about trade deficits, jobs, and the global economy.
About the Book
If you think you understand today’s global trade, prepare to think again. Trade Myths doesn't just tell a story - it decodes the narrative of the 21st century’s international trade flows.
Seasoned international economist Enzio von Pfeil cracks open the antiquated shell of 523-year-old mercantilist thinking and exposes the myths that continue dangerously to misshape our views on international trade. As political figures paint China as the villain "stealing US jobs," the author peels back the rhetoric to reveal the truth: our anachronistic thinking about trade flows and trade deficits is rooted in the works of Florentine mathematician, Luca Pacioli, of the 15th century. This means that most of politicians’ current trade debate and policies are predicated on theories that are around 600 years old!
Enzio von Pfeil’s incisive analysis clearly reveals that America’s trade deficit can be largely attributed to her own amazingly successful multinational corporations.
Shattering commonly-held illusions, Enzio von Pfeil further argues that imports don't “kill” jobs, exchange rates aren't the key driver of trade, and that a trade deficit isn't innately “bad.” His book provides a much-needed antidote to the misinformation predicated on 15th-century theories misdirecting policy debates and poisoning especially US-China relations.
Trade Myths unravels the complex tapestry of global commerce, offering fresh perspectives by challenging accepted antiquated myths. Discover how America's most successful businesses are shaping our trade landscape, and delve deeply into the real dynamics behind job creation and economic growth.
About Enzio von Pfeil
Born in Namibia and raised in America, Germany, and England, Enzio von Pfeil studied inter alia under Nobel Laureate Friedrich von Hayek and received his Ph.D. in international economics in Freiburg i. Br., Germany. He has worked at most of the world’s leading banks, serving as Chief Regional Economist for major brokerages based in Hong Kong.
He now is the anchor to the Wednesday podcast, “Peter Lewis’ Money Talk,” available on Substack, as well as to RTHK 3’s “Money Talk” radio interview every Thursday in Hong Kong. Both are available on YouTube.
Enzio von Pfeil established Financial Shield Limited in 2023 in order to protect his many clients from avaricious private bankers. He provides them capital protection as well as growth at 20% of the going fee, ensures that their cash deposits are invested safely, and ensures that their portfolios never underperform the market – as 86% of all money managers do every year, by 33%; instead, Enzio von Pfeil tracks market performance by focusing solely on liquid index ETFs and Treasury Bills.
Visit his website at www.FinancialShield.hk.