For all of the conservative movements’ rightful paroxysms regarding open borders, it is perplexing why those who champion free markets wish to throw open the trade border to an avalanche of heavily subsidized foreign sugar from nations such as China, India, and Brazil, among others. Such a policy would surely spell the end for U.S. … Read More
House Ways and Means Chairman Richard Neal said Democrats should prioritize free-trade negotiations with Europe if they’re able to maintain their hold on Congress after the November midterm elections. This summer, Tai rebranded her predecessor’s bilateral negotiations with Nairobi as the US-Kenya Strategic Trade and Investment Partnership, which prioritizes technical cooperation on regulations rather than … Read More
Post 1991, imports were significantly liberalised and duties brought down. But in recent years, India has reversed its two-and-a-half decade-old policy of tariff reduction to favouring protectionism. Import substitution is regularly spoken of as a priority for the government on the argument that India’s ‘infant’ domestic industries need to be protected. Read the article.
Rising demand for decoupling and the threat of trade protectionism have worried Chinese businesses doing business in the EU, and a recent report indicates trade confidence has hit a three-year low. According to a report by the China Chamber of Commerce to the European Union (CCCEU) and international consultant Roland Berger, the main factors dampening … Read More
The golden age of globalization has ended and a fundamental change to the way the world works is underway, said Singapore’s Deputy Prime Minister and Minister for Finance Lawrence Wong. “Remember the McDonald’s theory that where we have McDonald’s everywhere, there will be no war? Well, that was history and the end of history.” Read the article.
Economists like to think reality can be captured in mathematical formulas. They plug in numbers about all sorts of complicated things – how we work, what we spend – creating complex models to stimulate our world. They then crank the algorithmic engine on these models, and out comes the data that shapes the politics that … Read More
In this Global Times article, China’s former Minister of Finance Lou Jiwei says, “Trade protectionism will not solve any problem, and trade protectionism itself is the problem,” noting that the process of economic globalization over the past four decades has enabled countries to make greater use of their comparative advantages and improve production efficiency. Read … Read More
The Quad, made up of India, the US, Japan and Australia, is committed to security in the Indo-Pacific region and cooperation on development and has been criticised by China, and India is entering into similar arrangements elsewhere also. “Protectionism can only build around and decoupling a supply chain disruption will hurt everyone. We should stay … Read More
The growth of a protectionist mindset and policy south of the border is front of mind for Perrin Beatty, president and CEO of the Canadian Chamber of Commerce, as the U.S. braces for midterm elections in early November. Beatty said on Friday, from the Global Business Forum in Banff, that the shift from an open … Read More
“Our policy is devoid of any selfishness, we hope that other participants in economic cooperation will build a policy on the same principles, stop using the tools of protectionism, illegal sanctions and economic selfishness for their own purposes,” Putin said at an expanded meeting of the council of heads of states of the Shanghai Cooperation … Read More
