Economic View: Leading Economists Turn Against Free Trade – “A Flawed Game”
Respected economists including Janet Yellen, Mario Draghi, Paul Romer and Angus Deaton have been critical of free trade and globalization in recent weeks.
Respected economists including Janet Yellen, Mario Draghi, Paul Romer and Angus Deaton have been critical of free trade and globalization in recent weeks.
US productivity growth has underperformed since the year 2000.
KEY POINTS U.S. pharmaceutical imports have risen sharply in the last decade, with imports from China and India skyrocketing. India and China are increasingly the leading U.S. source for generic pharmaceuticals, which account for 91% of all prescriptions written in the U.S. China and India account for 57.6% of total pharmaceutical imports by weight last…
Key Points With 86 Gigawatts of planned solar module capacity and some 30 Gigawatts of imports, the U.S. market faces huge oversupply of solar modules. This will force many U.S. producers out of business, leaving the Chinese-owned U.S. facilities as the last man standing. Today, with optimism at its height, Chinese-owned facilities are building more…
The 2018-2019 tariffs have created thousands of U.S. jobs.
China’s domestic consumption is 20 points lower than other major economies. It needs to raise consumption to address indebtedness and to raise living standards in China.
U.S. imports of steel conduit from Mexico have exploded since 2017.
The success of the washing machine tariffs shows that “tariff-jumping investment,” i.e. inducing domestic industry growth via tariffs is a viable strategy for the U.S. in industries that have suffered decline.
Japanese steelmaker Nippon Steel has offered $14 billion for historic American company U.S. Steel. The deal is a bad idea. It’s bad for America, bad for steelworkers, bad for the U.S. manufacturing base. It’s even bad for U.S. Steel itself. The U.S. has four major steelmakers. They are essential to the success and prosperity of…
The multinational business community claims that revoking China MFN would be bad for the
U.S. economy. They are wrong.