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Pretending to be rivals, U.S. Export-Import Bank subsidizes foreign export agencies

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President Obama and his allies in the business lobby say they need export subsidies to compete with China's export subsidies. One problem with that argument: U.S. export programs directly subsidize China's export programs. The supposed rivals of the U.S. Export-Import Bank — the foreign governments the Obama administration uses to justify corporatism at home — are actually partners with...

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