Supporting economic “patriotism” is now the working principle on both sides of the political divide in Washington. Robert Lighthizer, the former US trade representative under Donald Trump, is famous for getting rid of the US trade deficit. But recently, California Democratic Congressman Ro Khanna – a rising figure in progressive circles – called for the … Read More
Seoul’s concerns over rising U.S. tech protectionism extend beyond the Inflation Reduction Act (IRA). “Despite large-scale investment commitments, top South Korean businesses and Yoon administration officials are now voicing questions as to whether they could be able to trust the U.S. The controversy regarding the IRA illustrates the fact that Korean businesses and politicians feel … Read More
The US Commerce Department on Friday unveiled sweeping regulations that limit the sale of semiconductors and chip-making equipment to Chinese customers, striking at the foundation of the country’s efforts to build its own chip industry. The agency also added 31 organizations to its unverified list, including Yangtze Memory Technologies Co. and a subsidiary of leading chip equipment maker Naura Technology … Read More
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
