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I venture to allude to the impression which seemed generally to prevail among their brethren across the seas, that the Old Country must wake up if she intends to maintain her old position of pre-eminence in her colonial trade against foreign competitors. ↗
In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run. ↗
We're at the crossroads. Down one road is a European centralized bureaucratic socialist welfare system in which politicians and bureaucrats define the future. Down the other road is a proud, solid, reaffirmation of American exceptionalism. ↗