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CNN (July 2)

2018/ 07/ 04 by jd in Global News

“Every US-made car is an import,” which means US automakers could get stung bad by tariffs. According to a measure used by regulators, “the two most ‘American’ cars are both Hondas—the Odyssey minivan and Ridgeline pickup,” each of which boast about 75% of components made in the US or Canada. “The Honda Civic, Acura MDX, Acura TLX and the Mercedes C-class source 70% from the United States and Canada. The highest-ranked car made by a Detroit automaker is the Chevrolet Corvette, which placed seventh” at about 65%. GM has already warned that “tariffs could force the company to cut jobs at US plants due to an expected drop in sales associated with higher prices.”


Financial Times (April 11)

2018/ 04/ 13 by jd in Global News

“For decades, Japan has struggled to remove barriers to the growth of technology start-ups,” but risk aversion and social pressure caused job seekers to focus on established companies. “That may be changing” as economic stagnation “threatens lifetime employment at big companies. More young people are joining start-ups or even going freelance to enjoy flexibility in their working life. Part-time or contract workers now account for about 40 per cent of Japan’s workforce.”


New York Times (March 15)

2018/ 03/ 17 by jd in Global News

“There’s no way to bring back all those steel plants and steel jobs, even if we stopped all imports. Partly that’s because a modern economy doesn’t use that much steel, partly because we can produce steel using many fewer workers, partly because old-fashioned open-hearth plants have been replaced by mini-mills that use scrap metal and aren’t in the same places. So this is all a fantasy.”


Newsweek (March 12)

2018/ 03/ 14 by jd in Global News

By playing “his America First card,” President Trump thinks he’s getting ahead, particularly in the Rust Belt. He believes adopting tariffs will help fulfill “his promise to America’s industrial heartland to bring back jobs in its traditional industries. The problem is that those in the industrial heartland don’t seem to think it’s the right thing to do.” In fact, many “who work in manufacturing, remain convinced that tariffs will increase costs and lead to job losses. Far from saving the industrial sector, they say, Trump is showing economic illiteracy that will only add to the cost of significant consumer goods.”



Newsweek (February 16)

2018/ 02/ 18 by jd in Global News

“We’re on the cusp of a fourth industrial revolution. First came the steam trains, followed by electricity and after that, information technology—each transforming our working practices and automating jobs previously performed by humans. These days of course, it is robotics, artificial intelligence and machine learning driving the change.” Not only are these being employed to complete routine tasks, “but they are increasingly capable of accomplishing tasks requiring cognitive abilities.”


New York Times (May 7)

2017/ 05/ 09 by jd in Global News

Six months on, both Mr. Trump and Mrs. Clinton are still waging last year’s campaign, undermining their promises to help America heal. This is particularly offensive — and more than a little pathetic — coming from Mr. Trump, who after all has a nation to run.” Yet, he still has “no concrete accomplishments to boast about, and nothing meaningful to offer the working people to whom he promised jobs and a revived industrial America.”


New York Times (March 11)

2017/ 03/ 13 by jd in Global News

President Trump “may want to take credit for the 235,000 jobs created last month, but at this early stage of his administration, the tally reflects trends established under President Obama.” Trump has been dealt a very good hand. After adding an average of 200,000 jobs monthly during the last year, “the economy is steadily progressing toward full employment.” Mr. Trump’s challenge is whether “his policies foster the trend, or derail it?”


New York Times (February 21)

2017/ 02/ 23 by jd in Global News

“While not as dangerous as protectionism and xenophobia,” blaming robots for job losses and economic disruption “is also a distraction from real problems and real solutions.” We’ve been through this before. “Automation is the hero of the story in good times and the villain in bad. Since today’s middle class is in the midst of a prolonged period of wage stagnation, it is especially vulnerable to blame-the-robot rhetoric.” Bad policies can result in disruption, but economic history has repeatedly shown “that automation not only substitutes for human labor, it complements it. The disappearance of some jobs and industries gives rise to others.”


Newsweek (February 8)

2017/ 02/ 09 by jd in Global News

“A hard “Brexit could threaten 30,000 jobs in London’s world-class finance sector,” according to a recent report, if the firms “lose their ‘passport’ to operate across the EU.” Of course, nobody will really know until Brexit transpires, but the same study suggests “17 percent of all U.K. banking assets might be on the move as a result of Brexit” and the U.K.’s share of the European financial services market could contract from the current 90% to around 60%.


Chicago Tribune (November 17)

2016/ 11/ 19 by jd in Global News

Despite his “nasty campaign bluster,” elements of Donald Trump’s “economic plan could boost growth and standards of living here and nationwide. This is potentially good news for millions of jobs-starved Americans.” But the devil is in the details. “There are yuuuuge caveats. Trump has not been good on details, he’s a serial exaggerator, and he’s completely out to sea in his insistence that America has the option to unplug from global trade. He also pays little heed to the nation’s $20 trillion debt, the looming threat of Social Security insolvency and Medicare’s unsustainable cost trajectory.” Still, the country could benefit from having someone who’s a “business guy and dealmaker at heart” in the White House.


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