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In a sign of continuing economic recovery since the third quarter of last year, international merchandise trade among G20 nations reached record levels in the first quarter of 2021.
The international trade of goods continued to rebound in the final quarter of 2020. Following the pandemic-induced sharp decline in the first half of last year, G20 international merchandise exports were up 7.2% and imports rose 6.8% in the fourth quarter.
While some uncertainty remains, 2021 could be a comeback year for global trade.
WTO rules were created for market economies adhering to Western concepts of law, and China has taken industrial policy and state-sponsored confiscation of foreign intellectual property and industrial espionage to criminal levels that the WTO was simply not designed to discipline.
Productivity growth, after languishing during the Obama presidency, is taking off again.
Tariffs are taxes collected at the border and paid in one way or another by various residents of the importing nation.
Industry leaders almost always dislike changes in the regulatory environment.
Abolishing tariffs would be a good start, if only because it would help take trade out of the populist realm of simple solutions and back into negotiating rooms filled with detail-oriented professionals.
Taking into account their positions as economic powers, both countries have to do their utmost to avert a game of tit for tat.
Beijing and local governments, with the collaboration of its technology giants, are funneling hundreds of billions of dollars into startups and big company projects that enjoy notably more freedom than Western companies.
China has targeted one U.S. industry after another – metals, solar panels, computer chips, artificial intelligence and supercomputers – many having significant economic and national security consequences.
Why does Virginia import oranges from Florida rather than grow its own? Why does the U.S. import almost all of its coffee and cocoa beans from countries in tropical climates rather than grow its own? Why does the U.S. import most of its primary aluminum rather than produce its own?
Let’s speculate about potential victories and defeats in 2018.
Instead of rallying American allies to confront China’s mercantilism through joint action, Mr. Trump has bullied Mexico, South Korea and Canada, pulled America out of the Trans-Pacific Partnership and derailed free trade talks with the EU.
What a tangled web we weave when first we practice to deceive ourselves into believing that corporate welfare can be seemly.
Skepticism is growing among economists – and more importantly business decision makers – that Mr. Trump and Republicans in Congress will appreciably lower the cost of investing in the United States.
According to one study, 88 percent of manufacturing job losses are the result of improved productivity, not rapacious Chinese.
According to Hausmann and Hidalgo, countries are better off when they can make a multitude of things.
Honduran President Juan Orlando Hernandez will be paying Cayman a brief visit on Friday.
The prospect of direct flights and food imports from Roatan were discussed Tuesday when government and airline officials made a flying visit to the Honduran island.
Cayman imported more cars and more gasoline to fuel them in 2015 amid sharp declines in oil prices, according to a new report from the Economics and Statistics Office.