Admittedly, it is harder to make the case for freer trade – particularly for unilateral liberalization – when unemployment is high and output is below potential, as was true in the aftermath of the financial crisis and recession of 2007-2009. Under such circumstances, there is a kernel of truth to mercantilist logic: trade surpluses contribute to GDP and employment, coming at the expense of deficit countries.
诚然，当失业率高企、产出低于潜在水平时——就像2007—2009年金融危机后的情景那样——要支持自由贸易就变得更加困难，特别是单边自由化。在这样的背景下，就出现了重商主义逻辑的核心：贸易盈余有利于GDP和就业，而付出代价的是赤字国。