Washington Post (August 29)
“Desperate political leaders of all stripes — Republican, Democratic, communist — have found a common enemy: free trade…. American political forces that are usually at odds apparently agree on the appeal of autarky — that economies should be as closed off as possible, whatever the consequences.” This seems to be part of a global phenomenon, with “nationalists and populists in other countries” also pushing “for more trade barriers. Even China, which has enriched itself through trade with other countries, is now reportedly flirting with curbing trade to demonstrate its lack of dependence on the West as its own economy falters.”
Tags: Autarky, China, Common enemy, Communist, Consequences, Democratic, Desperate, Free trade, Nationalists, Political leaders, Populists, Republican, Trade barriers
Bloomberg (July 15)
“As the world’s largest exporter, China continues to benefit from robust global demand, but the increase in tensions and trade barriers with the U.S. is weighing on the outlook…. President Xi Jinping may ultimately have to choose between softening his multi-year campaign to control debt levels, or letting growth dip below the target of 6.5 percent.”
Tags: China, Debt levels, Exporter, Global demand, Growth, Outlook, Target, Tensions, Trade barriers, U.S., Xi
The Economist (March 9)
“The spread of exotic grains is evidence that globalisation works.” You may mock quinoa and other hip foods, but they are welcome sign “of rising prosperity and expanding choice. The spread of better farming techniques has raised yields, helping humanity feed itself despite a rising population.” In contrast, “plans to erect trade barriers and possibly start a trade war” deserve derision. They “would make the world poorer and hungrier.”
Tags: Exotic grains, Expanding choice, Farming, Globalization, Humanity, Population, Prosperity, Quinoa, Trade barriers, Trade war, Yields
Washington Post (June 6)
The U.S. stands to benefit if Abenomics succeeds in strengthening its key ally in Asia. Prime Minister Abe’s first two arrows have hit their marks. The third yet-to-materialize arrow, however, has by far the hardest target of tackling the entrenched “source of Japan’s woes: a vast web of regulations, subsidies and trade barriers whose net effect has been to support inefficient sectors, and the voters who live off them, at the expense of growth and innovation. Japanese productivity has remained essentially flat for the past two decades, a dangerous state of affairs in a country with a shrinking labor force and a growing dependent elderly population.”The U.S. stands to benefit if Abenomics succeeds in strengthening its key ally in Asia. Prime Minister Abe’s first two arrows have hit their marks. The third yet-to-materialize arrow, however, has by far the hardest target of tackling the entrenched “source of Japan’s woes: a vast web of regulations, subsidies and trade barriers whose net effect has been to support inefficient sectors, and the voters who live off them, at the expense of growth and innovation. Japanese productivity has remained essentially flat for the past two decades, a dangerous state of affairs in a country with a shrinking labor force and a growing dependent elderly population.”
Tags: Abe, Abenomics, Arrows, Asia, Japan, Regulations, Subsidies, Trade barriers, U.S.
