This is a day of quotes.  Condoleeza Rice, Secretary of State, is getting into the trade agreement hawking game.  I didn't know her portfolio at the State Department included trade.

"There is a sense that America feels fearful of its ability to compete, and I think that's linked to a whole host of issues about change," Rice said. "That then does create an impulse to protect, and we know from any number of historical experiences that that impulse to protect always leads to bad outcomes." 

No worries about currency manipulation, foreign taxes and subsidies that cause anywhere from a 17% to 57% combined trade distortion impact. Never mind that we spend $2B more per day on imports than we export.  Never mind that China, our biggest geopolitical rival is our biggest creditor.

We apparently are "fearful" of "our ability to compete."  We fear "change."  And the urge to "protect" leads to "bad outcomes." 

I don't recall having those fears.  But what can I say... Rice has apparently diagnosed something in my psyche that I missed.

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