Recent US Commerce Department figures showing a widening of the country’s trade deficit serve to illustrate the inherent contradictions in President Trump’s vow to narrow the gap while urging faster economic growth.
Recent US Commerce Department figures showing a widening of the country’s trade deficit serve to illustrate the inherent contradictions in President Trump’s vow to narrow the gap while urging faster economic growth.
Ron Kirk, former Mayor of the City of Dallas and presently the Obama administration’s US Trade Representative filed suit against China with the World Trade Organization (WTO) this week, siding with the powerful United Steelworkers union, accusing Beijing of illegally subsidizing the production of wind power equipment which is an anti-competitive practice under WTO rules and harmful to American workers.
G-20 world leaders meeting in Seoul, South Korea, concluded the summit late Friday by issuing a joint communiqué, with no specifics, agreeing only in general terms to curb “persistently large imbalances” in saving and spending. But deep divisions, especially over the US-China currency dispute, left G-20 officials negotiating all night to draft a watered-down statement for the leaders to endorse, keeping alive a dispute that raises fears of a global trade & currency war, and fears of rising protectionism among nations.
Wrap-up of Davos World Economic Forum 2010, from FT’s Money Supply blog.
Although most projections show a continuation of positive growth in 2010, questions about the strength and sustainability of the recovery remain. To provide an economic outlook for the new year, the Carnegie Endowment on 5 Jan, hosted a distinguished panel of the heads of the economic forecasting unit at their respective organizations.
An nation-by-nation interactive Pittsburgh G-20 Survival Guide brought to you by Global Post (www.globalpost.com) covering all the issues likely to be covered, who is leading each nation’s delegation, and other pertinent G-20 “insider” information.
Pittsburgh, PA will host the next G-20 Summit slated for Thursday & Friday, September 24-25th, 2009. President Obama will chair this meeting of leaders from countries around the world who represent 85% of the global economy. At the Pittsburgh G-20 Summit, leaders will review the progress made since the London Summits, recent protectionist measures between the U.S and China over tires, auto parts and chicken exports, and discuss further actions to assure a sound and sustainable economic recovery from the global financial and economic crisis.
One day after China’s top climate official, Li Gao, requested that his country’s export sector be exempt from greenhouse gas emissions reductions, U.S. Energy Secretary Steven Chu announced the possibility of levying a carbon tariff on countries that do not match US greenhouse gas emissions restrictions. Chu told a House science panel that such border […]
Let’s peel our eyes off of today’s Dow Jones Average for just a few minutes… March has marked a rather curious point in US-Mexican relations, causing many to raise a speculative eyebrow toward our new direction in international trade policy. Is President Obama beginning to draw a dangerously protectionist “line-in-the-sand” in an attempt […]
China called for the creation of a new currency to eventually replace the dollar as the world’s standard, proposing a sweeping overhaul of global finance that reflects developing nations’ growing unhappiness with the U.S. role in the world economy.
President Obama & PM Stephen Harper of Canada. Many, yet, do not grasp the intrinsic connection between the economy, global financial Markets and foreign policy. If ever there were a great example of ‘Economic Foregin Policy’ at work, it was displayed today in President Obama’s first foreign trip to visit our northern neighbor, Canada. The […]
This week’s (7 Feb 2009) issue of the ‘Economist’ magazine has a brilliant cover story — not about the emergence, but rather, the return of economic nationalism led, unfortuantely, by the former Bush administration’s penchant for protectionist ‘bi-lateralism’. It’s an interesting peice set in context of an emerging consensus on Capitol Hill that weak money-center […]