Beltway Confidential

Export-Import Bank 101: The ‘other countries are doing it’ argument

By Timothy P. Carney

Published June 9, 2015 8:31pm ET

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Export-Import Bank 101: The ‘other countries are doing it’ argument — Song Zhiyong, left, president of Air China, shakes hands with John Wojick, right, senior vice president of global sales and marketing for Boeing Commercial Airplanes, after Wojick presented him with a leather flight jacket during a delivery ceremony for the first Boeing 747-8 Intercontinental airplane to be delivered to Air China, Monday, Sept. 29, 2014, in Everett, Wash. (AP Photo/Ted S. Warren) | Ted S. Warren

See also: Export-Import Bank 101: The ‘it makes a profit’ argument

The argument that convinces most people to support the Export-Import Bank is the everybody else is doing it argument. This argument is based on faulty reasoning, misrepresentation of the facts, bad economics, and an odd (though slightly veiled) appeal to fairness.

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Boeing China Corporate Welfare Export-Import Bank GE Timothy P. Carney