The China pharmaceutical industry is taking a multi-pronged approach to becoming a dominant player in Asia. Maybe even the world.
By Amanda Mayoral Summary Points Higher import dependence makes countries more vulnerable to price shocks Countries that are more import dependent often experienced higher inflation during recent supply chain shocks than less import dependent countries. Comparing countries globally, every four percentage point increase in import dependence is associated with a one percentage point increase…
Jeff Ferry, CPA’s chief economist, takes a historical look at the early days of American industrial might, how it all went wrong through hyperglobalization, and where we must go from here.
The multilateral trading system, birthed on October 30, 1947, was unceremoniously knifed and left for dead by President Biden’s signing of the Inflation Reduction Act. This is an unprecedented move by the United States in our seventy-five year history as part of that system. Retaliation will come from much of the world. Here is what…
By Jeff Ferry and Amanda Mayoral Broad-based tariffs including tariffs on manufactured imports would boost U.S. economy by 6% and create 7.5 million jobs. Real household incomes rise by 8%. Tariffs reduce imports and stimulate domestic manufacturing output by 18%. Tariffs would generate $556 billion in new revenue, enabling cuts in income tax or…
A look at what some senior executives are saying this earnings season about the dollar’s misalignment with the major currencies of the world.
CPA economists Jeff Ferry and Amanda Mayoral explain the continued deterioration of market share for domestic producers versus imports.
A China Beige Book executive makes the case for reshoring in testimony to the U.S. China Economic and Security Review Commission. Meanwhile, U.S. manufacturers continue to lose local market share to imports.
Manufactured goods helped increase exports for June and lowered the trade deficit for the month. But on balance, the U.S. is careening towards another record-breaking year for the goods trade deficit.
CPA tax policy director, David Morse, explains why mostly-domestic companies with over a billion in profits might get a more even playing field with rivals who use profit shifting, offshoring, to pay less taxes.