Last month, the Wall Street Journal published an attack on Joe Biden’s industrial policies arguing that Bidenomics “needs more…economic theory or research.” This theme has been picked up by numerous other media publications. Economist and former Treasury Secretary Larry Summers appeared on a Peterson Institute video to argue that restrictions on free trade, such as…
A looming shortage of critical minerals is a huge challenge facing the U.S. and all industrial nations outside of China. The rare earth family of minerals is one example of the problem. Rare earths are used to manufacture permanent magnets, key components of the motors that power electric vehicles. Rare earths also figure in motors…
WASHINGTON — The Coalition for a Prosperous America (CPA) today announced that the U.S. Private Sector Job Quality Index (JQI) for June was 85.22, down 0.3% from May. The JQI has leveled out over the past few months after a significant increase earlier in the year. Most of the job growth in June was from low-quality jobs that…
Monthly index tracks currency misalignment based on latest market rates Dollar overvaluation rises to 15.2% against global currency basket as dollar inflows continue to push up the greenback. Japanese yen undervaluation against U.S. dollar reaches 50.1%, a new all-time low for the yen in dollar terms. Chinese yuan undervaluation against dollar rises to 28.1% CMM…
U.S. manufacturing employment hit an all-time low as a percent of the total workforce, 8.3%.
China achieved domination of the global solar energy equipment industry thanks to $50 Billion+ of Chinese government subsidies.
WASHINGTON — The Coalition for a Prosperous America (CPA) today announced that the U.S. Private Sector Job Quality Index (JQI) for May was 85.47, up 0.83% from April. The JQI reached its highest level in over a decade and has increased the last seven consecutive months after accounting for revisions to recent months. While job growth is slowing,…
Monthly index tracks currency misalignment based on latest market rates Dollar overvaluation rises to 14.8% against global currency basket from 14.3% last month Japanese yen undervaluation against U.S. dollar expands further to 45.7% Chinese yuan undervaluation against dollar rises to 25.0% CMM is a partnership between the Coalition for a Prosperous America (CPA) and the…
Economic models used to forecast the impact of international trade agreements have an in-built bias to favor free trade. This has led these models to underestimate repeatedly the damage done to U.S. manufacturing industry by trade agreements, dating back to NAFTA. The bias or rigidity in these models can be corrected by modifying some of…
Key Points The Section 301 tariffs imposed in 2018 on Chinese imports reduced U.S. dependence on China. While U.S. imports surged by 39% between 2017 and 2022, China imports were up very slightly, and still below their 2018 peak. As a result, China fell from 21.6% of U.S. imports in 2017 to just 16.5% in…
