Category Archives: Teaching international trade

Tariffs and trade wars, some comments

We are having an informal Civil Society Institute discussion on the tariffs and trade war issue this week, so I  thought I would do a little round-up. My friend Tom Prusa summarizes some of the basics for a New Jersey … Continue reading

Posted in Teaching international trade, Teaching macroeconomics

Puerto Rico Declares a Form of Bankruptcy

I am sure President Trump with his extensive experience with bankruptcy, and his many friends owning island property, will be deeply involved in the negotiations and eventual resolution.  From NYT. The governor of Puerto Rico, Ricardo Rosselló, said he would … Continue reading

Posted in Teaching international trade, Teaching macroeconomics, United States

What is Trump administration proposing to do about NAFTA, actually?

In the end these seem like fairly narrow issues to negotiate, and the other parties presumably have some aspects of the agreement that they also would like to change. In a draft letter circulated among members of Congress this week, … Continue reading

Posted in Teaching international trade

Retaliatory tariffs on Canadian lumber?  Even Cato Institute thought it was a bad idea

Protectionist trade barriers in the softwood lumber industry impose great costs on businesses and consumers here in the United States in order to enrich a few lumber producers. To put employment figures in perspective, it is noteworthy that workers in … Continue reading

Posted in Burkina Faso, Teaching international trade

Trump and Navarro want to make the U.S. more like China… Why do we want to be poorer?

“More manufacturing.” “Without manufacturing we cannot be a great nation.”  So think about it.  The more like China the United States becomes, the more our average per capita income will drop to $5,000 per person (China’s), instead of $45,000 (ours … Continue reading

Posted in Teaching international trade, Teaching macroeconomics, United States | 1 Comment

Fixed exchange rate arrangements per IMF 2014

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Why could the ruble not have collapsed while I was teaching macroeconomics?

To try to stanch the bleeding, on Monday evening (the middle of the night Moscow time), the Central Bank of Russia announced a stunning interest rate increase. Its main deposit rate is now 17 percent, up from 10.5 percent when … Continue reading

Posted in Teaching international trade, Teaching macroeconomics

Are TPP trade negotiations secret or not… an interesting issue

USTR spokeswoman Carol Guthrie disputes Weinger’s claim that the TPP negotiating process has been secretive. “The reality is that TPP negotiations have been more transparent and consultative than any U.S. trade agreement in history while maintaining the confidentiality appropriate for … Continue reading

Posted in Teaching international trade

Excellent The Economist survey on trade in the Pacific and the TPP

Michael Froman, America’s trade representative, says the TPP is about ensuring high labour standards, exposing state-owned enterprises to level competition with private enterprises and including digital activity “to ensure a free and open internet”. When he held informal talks with … Continue reading

Posted in Teaching international trade

Trade talks with Asia high on President Obama’s agenda

Talks with China over expanding the 1997 treaty on information technology broke down last year over the scope of the products covered by the agreement. But after intensive negotiations leading up to Mr. Obama’s visit, Mr. Froman said, the Americans … Continue reading

Posted in Teaching international trade

Critique of Trans-Pacific Partnership trade pact

Posted in Teaching international trade

Suntech bankruptcy… a lesson for would-be government subsidizers

Suntech Power, a Chinese manufacturer that became the world’s largest producer of solar panels by 2011 only to be battered by plummeting prices, announced on Wednesday evening that its main operating subsidiary had been pushed into bankruptcy by eight Chinese … Continue reading

Posted in Teaching international trade

Trans Pacific Partnership agreement back in the news

The segment also included a report from Al Jazeera’s Melissa Chan, who noted that although the trade agreement known as the Trans-Pacific Partnership TPP is not officially on the President’s agenda, it’s likely to be a major talking point throughout … Continue reading

Posted in Teaching international trade

Economics stand up comedy

By the time Bauman takes the stage, the packed house — looks like at least 200 people — are cheering and clapping for the world’s first stand-up economist. He grabs the mic and starts his set by admitting just how … Continue reading

Posted in Teaching international trade, Teaching macroeconomics

Data, asking questions, and disaster (the Thiokol graph)

The following two graphs are well-known; I was talking about them in class today.  The Thiokol engineer’s ‘chart” was unreadable, and so symptomatic of a culture of not really asking questions that challenged higher-ups.           Here … Continue reading

Posted in Teaching international trade, Teaching macroeconomics

Feenstra and Taylor fail? (in context of big success)

I am using Rob Feenstra and Alan Taylor’s International Trade (Worth McMillan, 3rd ed) for my International Trade class.  It is a super book… they do trade exactly the way I have been teaching it.  So happy. But you still … Continue reading

Posted in Teaching international trade