Monday, August 13, 2018

The Untold Story: Tariffs Are Driving Job Creation

It’s just six months since the first of the Trump administration’s tariffs went into effect and the job gains are already visible.

Monday, July 30, 2018

Overexposed















Summary: This article looks at China’s heavy dependence on - or overexposure to - the US for their trade surplus and their exports. It examines different ways of counting the China trade surplus, finding that on one alternative measure it could be as much as twice as large as China’s own published reports. Finally, reasons for the disparities in different trade data reports are examined.

The struggle to reduce America’s trade deficit with China is still in its beginnings, but the early signs are that America may be winning the battle. 

Monday, July 9, 2018

The US Should Sign a UK Free Trade Agreement Now

The Trump administration should make it a top priority to sign a free trade agreement (FTA) with the United Kingdom as soon as possible.  Although Donald Trump and many of his key advisors are rightfully highly skeptical of FTAs, the UK at this moment presents a different sort of opportunity. A US-UK FTA would be good for the US economy, good for the international economy, good for US foreign policy, potentially good for the UK economy, and ultimately (although they may not admit it) good for the European Union.

Monday, June 4, 2018

Breaking from the Cage: Italy’s Not-So-Secret Plan For Leaving the Euro

Paolo Savona
The Trojan War was caused by Prince Paris’s brutal kidnapping of Helen, wife of the King of Troy, said to be the most beautiful woman in the world.  Last week, the greatest crisis in Italian democracy since 1945 was triggered by the nomination of an 81-year-old semi-retired academic economist, Paolo Savona, as Finance Minister in the new Italian populist government. Savona has advocated that Italy quit the euro currency. For a couple of days, Italy was on the brink of the peacetime equivalent of the Trojan War, a dispute between an unelected president and an elected Parliament. The populist parties that won the election attacked Italian President Mattarella for frustrating the right of the election victors to name a government of their choosing. The president countered that Italy could not leave the euro without a referendum. 

Tuesday, May 8, 2018

Free-Trade Economists Begin To See the Light on Trade and Globalization



The great economist John Maynard Keynes once observed that people who think themselves practical and realistic are often slaves of “some defunct economist.” One long-dead economist who is poised to become very defunct is old David Ricardo. His free trade views have dominated thinking on international trade for decades. But the tide is beginning to turn among economists, as some highly respected academic economists move away from their doctrinaire position that all free trade is always good everywhere and begin to acknowledge that free trade and large trade deficits have inflicted substantial harm to the US economy. 

Tuesday, May 1, 2018

Top Ten Cases of Chinese IP Theft

Industrial espionage has been going on for centuries, but experts agree China’s espionage campaign is on a different scale from anything we’ve seen in history. It has been going on at least since the 1990s and there is no sign it is letting up. Targets include an incredibly broad range of US companies, embracing civilian as well as military technology, with a special focus on the telecom and Internet sector. In 2009, National Security Agency Director General Keith Alexander called Chinese IP theft “the greatest transfer of wealth in history.” He put the value of cyber-theft of US trade secrets and intellectual property (IP) at a stunning $250 billion a year and called it “our future disappearing in front of us.” 

Wednesday, March 28, 2018

The China Endgame: Let’s Build USA 2025

President Trump has just made what could be the biggest gamble of his presidency: he’s betting that he can make a significant difference in the US economy by taking action against Chinese mercantilism. As usual, the hordes of commentators in the liberal media, conservative establishment, and the economics profession have misunderstood his goals and objectives.