The US is helping China become the next superpower. That is the conclusion of a US intelligence analyst, Michael Pillsbury, who wrote the recent book: “The Hundred-Year Marathon: China’s Secret Strategy to Replace America as the Global Superpower.” Manufacturing & Technology News (subscription required) reports: Pillsbury, who spent 40 years as a China analyst…
Executive summary U.S. trade and investment agreements have almost always resulted in growing trade deficits and job losses. Under the 1993 North American Free Trade Agreement, growing trade deficits with Mexico cost 682,900 U.S. jobs as of 2010, and U.S.-Mexico trade deficits and job displacement have increased since then. [Reposted from the EPI blog | …
Members of the Senate Finance Committee welcomed United States Trade Representative Michael Froman to their chamber in late January, with most members lavishing praise on him as the public persona of President’s Obama’s embrace of free trade. [Reposted from Manufacturing and Technology News | Richard McCormack | January 30, 2015] Save for a few Democrats…
Roubini’s unconventional truth: The world has too much supply and not enough demand Moreover, there is still slack in real-estate markets where booms went bust (the United States, the United Kingdom, Spain, Ireland, Iceland, and Dubai). And bubbles in other markets (for example, China, Hong Kong, Singapore, Canada, Switzerland, France, Sweden, Norway, Australia, New Zealand)…
Washington, D.C. – The U.S. Department of Commerce released the latest monthly U.S. trade figures this morning. The overall monthly U.S. international goods and services trade deficit widened to $46.6 billion in December, from $39.8 billion in November, revised. The goods and services deficit was $505 billion in 2014, up $28.7 billion from 2013. [A…
Trade Groups Urge U.S. to Push Against Chinese Regulations HONG KONG — United States trade groups gave the Chinese government an earful last week about new policies that could hamper the ability of major technology multinationals to do business in China. [Reposted from The New York Times | Paul Mozur | February 5, 2015] Now,…
The U.S. Census Bureau reported that the annual U.S. trade deficit in goods and services increased from $476.4 billion in 2013 to $505.0 billion in 2014, an increase of $28.6 billion (6.0 percent). This reflected a $6.5 billion (2.9 percent) increase in the services trade surplus and a $35.2 billion (5.0 percent) increase in the goods…
Smithfield Foods, producer of the iconic holiday ham, was one of America’s flagship food companies, steeped in centuries of U.S. tradition. [Reposted from Reveal | Nathan Halverson | January 24, 2015] The Virginia-based pork company derived its ham from a curing process Native Americans taught settlers five centuries ago. It owned part of Main Street…
The bottom line is still the same until we return our nation’s economic focus from “a something for nothing approach” back to the “Real Wealth Creation Engine of Creating/Innovating. Making, and Building Things” again we are doomed to lethargic and anemic growth! Wake Up America! [Reposted from the blog of Dan DiMicco | Dan DiMicco | February 4, 2015] Some…
President Barack Obama is finishing 6 years of negotiations on a broad economic agreement with 11 other nations on the Pacific Rim. Enacting this pact — The Trans Pacific Partnership (TPP) — is the president’s top legislative priority in these last two years of his presidency. [Reposted from the Huffington Post | Pat Choate | …