Janet Yellen warns China against flooding the world with cheap exports of clean energy. Excess industrial capacity and government support in China's clean energy sector were discussed by US Treasury officials. The US, EU, South Korea, Japan, and Australia are implementing subsidy programs to protect their domestic industries and compete with China.
The hike in tariffs imposed by the United States against its major trading partners since early 2018 has been unprecedented in recent history. President Trump alluded to, among others, the goal of revitalizing jobs in the country's manufacturing industry by protecting it from unfair trade practices of other countries, particularly China. However, according to a study by two Federal Reserve Bank staff - Aaron Flaaen and Justin Pierce - released last December 23, the effect so far has been just the opposite, i.e. a reduction in U.S. manufacturing employment!
In our view, while clarification and formalization of measures do not come, I have to agree with a former colleague on the IMF Executive Board of Directors, the Argentine Hector Torres, who in a comment Monday on LinkedIn noted: “President Trump believes that governments of Brazil and Argentina are manufacturing currency devaluations to damage US farmers… and respond by raising tariffs on imports of steel and aluminum… the premise is wrong and the reaction folly! ”. Not without first contributing to the uncertainty that, as we have observed, has already negatively impacted the global economy.
Published September 12, 2019 at 5:56 PM Economic ties between China and Latin America have grown exponentially over the last couple of decades. The recent trade war between China…
Instead of "rule of (multilateral) law", the US's bilateral handling of its super-strong market condition (24 percent of global GDP) more closely resembles a “law of the jungle” where the stronger imposes with force its will on the weaker.
Baylor regent, former Walmart CEO: Businesses must create own path By MIKE COPELAND Nov 6, 2018 Business must chart its own path and not become captive to the vagaries…
GLOBALISATION SERIES: FUTURE OF TRADE AND PROTECTIONISM Tue 24 Oct 2017 OMFIF Focus Podcast – Globalisation series: ‘Future of trade and protectionism’. Otaviano Canuto, executive director of the World Bank,…
Project Syndicate Prospects for growth in global trade in 2016 and 2017 have been downgraded again. The World Trade Organization (WTO) now expects that trade this year will increase…
For centuries, Latin America’s economies have revolved around exporting commodities – be it digging up minerals and hydrocarbons, planting soya or coffee, or taking advantage of what animals leave behind,…
Capital Finance International, Autumn 2015 International trade has undergone a radical transformation in the past decades as production processes have fragmented along cross-border value chains. The Brazilian economy has remained…
World Bank - Policy Research Working Paper 7228 As of 2012, Brazil was the country most closed to trade, by measure of trade penetration (combined share of exports and imports…
The landscape of international trade negotiations has been undergoing an upheaval. On the multilateral level, after 15 years of unsuccessful attempts to close the Doha Development Round at the…
The curious case of Brazil’s closedness to trade - VoxEU While Brazil has become one of the largest economies in the world, it remains among the most closed economies as…
International trade has undergone a radical transformation in the past decades as production processes have fragmented along cross-border value chains. The Brazilian economy has remained on the fringes of…
Thomas Friedman’s bestseller The World Is Flat highlights the strong forces pushing the world towards a single economic platform. The technology-fueled globalization in the provision of services, and the widespread organization…