Free Markets At Work

For John, BLUF:  It isn't fixed that China will pull in all jobs.  Nothing to see here; just move along.

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Hasbro CEO says moving out of China has ‘gone very well for us’

From CNBC, by Jasmine Kim, 27 August 2019.

Here is the lede plus four:

Hasbro shifting its business out of China has been positive for the company, according to its CEO. “It’s gone very well for us,” Brian Goldner told CNBC on Tuesday.

The toy company has been focused on diversifying its manufacturing operations since 2012 due to “enterprise risk reasons,” he said.

“We’re seeing great opportunities in Vietnam, India and other territories like Mexico.  We’re doing even more in the U.S. We brought Play-Doh back to the U.S. last year, ” Goldner said on “Squawk on the Street. ”

As the U.S.-China trade dispute has intensified over the past month, President Donald Trump last week urged U.S. companies to leave China. He said in a tweet, “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”

According to Hasbro, this isn’t hard to follow.

China is not for free trade, but rather has a mercantilist approach to economics.  It May not be the best approach, for China or for the world as a whole.

Hat tip to the InstaPundit.

Regards  —  Cliff