Will China be the next global superpower? Is the US just okay with that? News reports say that Germany, Great Britain, France and Italy are joining the China-led Asian Infrastructure Investment Bank, which is a rival to the US-led World Bank in DC. It caused me to remember CPA Senior Economist Greg Autry’s presentation in…
(Bloomberg) — China’s aluminum product output rose to a record, adding further pressure on global prices as the world’s largest supplier continued to raise production. [Reposted from Bloomberg Business | March 12, 2015] China Aluminum Output Surges as Global Glut Pressures Prices Don’t Miss Out — Follow us on: Facebook Twitter Instagram Youtube by Bloomberg…
Dan DiMicco serves on the CPA Board and is the Chairman Emeritus and former President and CEO of Nucor Steel Corporation For decades now it has been almost impossible to have a healthy debate/discussion on global trade without the 4-letter word of trade “Protectionist” being used in a derogatory manner. [Reposted from Forbes | Dan…
More than 100 law professors have signed a letter to congressional leaders and the U.S. Trade Representative urging them to “protect the rule of law and the nation’s sovereignty” as trade agreements are negotiated. Specifically, the professors oppose the inclusion of Investor-State Dispute Settlement (ISDS) provisions in these agreements. The letter was released by Alliance for…
The front line battle is Fast Track and Trans-Pacific Partnership. But ultimately, the core issue is that trade deficits matter. America cannot grow economically strong without fixing the trade deficit. We can’t fix the trade deficit until we stop Fast Track and TPP. So we must stop them. Michael Froman, Orrin Hatch, Paul Ryan and…
March 13, 2015 Unhappy Third Birthday for Korea Free Trade Agreement Drags Down Obama Push for Fast Track Trade Authority U.S. Exports Down, Imports from Korea Up and Job-Killing Trade Deficit With Korea Balloons 84 Percent on Third Anniversary of Korea Pact, Which Is TPP Templat [A press release from Public Citizen | March…
Testimony of Patrick A. Mulloy, Trade Lawyer, Before the House Committee on Foreign Affairs Subcommittee on Asia and the PacificHearing Entitled“Across the Pond: U.S. Opportunities and Challenges in the Asia Pacific”February 26, 2015 Chairman Salmon, Ranking Member Sherman, and Members of the Subcommittee, thank you for providing me with this opportunity to speak to you…
Euro devaluation is eating deeply into the profitability of CPA member manufacturers. I just got off the phone with Jack Davis, owner of I Squared R Element Company in Albany NY. I Squared R is the largest U.S. manufacturer of silicon carbide heating elements (see picture above). Because the euro has dropped 30% in value…
China produces and consumes about 60 percent of the world’s cement — the Three Gorges Dam alone required 16 million tonnes of it. To put China’s massive 21st century construction splurge and concrete consumption into perspective, Bill Gates made a mind-blowing comparison. According to his blog, between 2011 and 2013, China consumed 6.6 gigatons of…
WASHINGTON (MarketWatch) — Nobel laureate Paul Krugman came out against the Pacific Rim trade deal, calling it “fundamentally trivial“ for the U.S. trade sector. “Pushing this [trade deal] has nothing to do with the interest of a vast majority of Americans,” Krugman, the Princeton University economist and New York Times columnist, said Tuesday in a…