Anyone still fantasizing about China becoming a free market economy needs to read the recently released 2014 report by the U.S.-China Economic and Security Review Commission. Remember the promises of China’s entry into WTO. Clinton, Bush, the pundits, party leaders all predicted that our trade balance would improve, China would become more responsible on the…
The legislative sausage known as the Miscellaneous Tariff Bill (MTB) is being pushed for renewal in the lame duck session. However, there is reason to be both critical and supportive. What is this bill? The website customsinfo.com has this information. The Miscellaneous Tariff Bill (MTB) is an annual piece of legislation that is passed by…
The elite punditry predict kum-bay-ah bipartisanship predicted between Obama and the GOP on job-killing trade deals. But this official at the Pew Research Center reveals that any such collaboration is, instead, evidence of politicians out of touch with their base. Bruce Stokes, director of global economic attitudes at Pew, wrote this for Politico. If and…
In listening to Dr. Gomory’s presentation and Q&A yesterday, sponsored by the Coalition for a Prosperous America (CPA), I came away more concerned than ever about the future of our Country and our ability to lead the world in a positive way. [by Dan DiMicco | November 16, 2014 | dandimicco.com] To be a leader…
China has unveiled a sophisticated new stealth fighter jet at an air show, in a show of muscle during a visit by US president Barack Obama for an Asia-Pacific summit. [ABC news | November 11, 2014] President Xi Jinping has been pushing to strengthen China’s 2.3 million-strong armed forces, and Chinese defence companies and…
Dr. Ralph Gomory gave an excellent presentation today at the CPA webinar, “Global Trade and Conflicting National Interests.” His materials are below. Stumo Editorial Summary: Trade commentators and most economists believe that more trade with any country is always win-win for both countries. But the reality of both the Ricardo model and the real world…
MUMBAI, India — India and the United States reached an agreement on Thursday over food stockpiles, removing a major obstacle to a global trade deal that has been stalled for months. [by Neha Thirani Bagri | November 13, 2014 | NY Times] The pact, which precedes a meeting this weekend of the Group of 20…
Element Electronics boasts of being the only American-owned and American-assembled television company. Flashy red-white-and-blue packaging helps it do business with Walmart as part of the retailer’s quarter-trillion-dollar “Made in USA” initiative. But according to a Federal Trade Commission (FTC) complaint filed Tuesday, the company isn’t making anything in America after all. [by Alan Pyke |…
The mid-term elections made clear American voters want Washington to better address high unemployment and stagnant wages. Yet, on issues ranging from energy to immigration to trade, President Obama continues to put politics ahead of strengthening American families. [by Peter Morici | November 13, 2014] Senator Mary Landrieu (D., LA) is locked in a tight…
This week, U.S. Trade Representative Michael Froman announced a “breakthrough” agreement between the United States and China to expand the World Trade Organization’s (WTO) Information Technology Agreement (ITA), which eliminates tariffs among 54 countries in high-tech products. Froman enthusiastically noted that the ITA was last amended in 1996, when “most of the GPS technology… [and]…
