Comments by "Paul Aiello" (@paul1979uk2000) on "" video.

  1.  @Xamufam  I was thinking that, the EU is actually quite open when it comes to trade.
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  2. True, but the unintended consequences are with the smaller players will find it much harder to compete, it's easy enough for the EU, US or China to do the same thing but a lot of smaller countries around the world don't have the muscle to do this and if we are not careful, a lot of countries could do a lot of protectionist policies to protect themselves, which could unravel free trade, something that would actually hurt the US and others. I don't think the IRA has been well-thought-out from the US and the can of worms that this can open up.
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  3. This is a double edge sword, the EU countries could spend in a subsidy war but it's becoming clear the reason they don't want to take that route is because some countries, mainly southern countries could get more careless with it if money becomes easy access, you only have to look at the countries that oppose the subsidies and the ones that support it to see that. On the one hand, I support what the US is doing with the IRA, mainly because it will push renewable energy and battery tech further, but on the other, it goes against free market economics that the US likes to beat the drum about and that could be bad if the EU, China and others starts getting a lot more protectionist, it would hurt everyone's interest, especially smaller countries which don't have the money to compete with this like the EU, US and China can. I think the real problem is with this act is that it's clearly a protectionist move and could be solved if it was open-ended where subsidies are available for all, but unless anything changes, the EU, China and other countries are likely going to enact their own walls to protect their own industries, longer term that will make it worse for everyone and probably more the US than anyone else as it could restrict what they can and can't do in other regions. Either way, this is a can of worms we don't want to open, especially with how the world economy is like and more so for the west that needs to create a united front on Russia and China, this could fragment things.
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