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Keyword: mercantilism

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  • China’s Property Bubble Echoes Subprime Crisis

    08/02/2016 10:42:40 AM PDT · by Sgt_Schultze · 12 replies
    Wolf Street ^ | 2 August 2016 | Harry Dent
    I wrote about this in a letter late last year, but now here we are more than halfway through the year and it’s only getting worse. So much worse that the Chinese property bubble is now the catalyst that will reset markets – and will likely be one large event that cascades across the globe.- snip - I’m convinced that what finally puts an end to central banker madness and the incessant stream of QE will be the Chinese real estate bubble.- snip - China is going down. The China Beige Book (which is much more accurate) recently showed that,...
  • UK better off in EU for now, says euroskeptic think tank (Open Europe—not so euroskeptic)

    06/11/2012 4:19:20 PM PDT · by Olog-hai · 3 replies
    EU Observer ^ | 2012.06.11 @ 15:36 | Honor Mahony
    The UK would be better off staying in the EU, the country's foremost euroskeptic think tank says, amid a growing debate among Conservatives on the merits of a British exit from the European Union. "From purely a trade perspective, EU membership remains the best option for the UK," Open Europe argues in a report published Monday (11 June). "All the alternatives come with major drawbacks and would all … require negotiation with and the agreement of the other member states, which would come with unpredictable political and economic risks," it continues. The report examines the idea—gaining traction among some euroskeptic...
  • China: American Financial Colony or Mercantilist Predator?

    08/27/2011 6:08:29 AM PDT · by danielmryan · 11 replies
    Whiskey and Gunpowder ^ | August 26, 2011 | Lewis E. Lehrman
    China is an important trading partner of America. But it may also be a mortal threat. And not for the conventional reasons usually cited in the press. Ironically, it is a threat because China is in fact a financial colony of the United States, a colony subsidized and sustained by the pegged, undervalued, yuan-dollar exchange rate. Neither the United States nor its economic colony seems to understand the long-term destructive consequences of the dollarization not only of the Chinese economy but also of the world monetary system. While the Chinese financial system has been corrupted primarily by tyranny, deceit, and...
  • Why Amazon Can't Make A Kindle In the USA

    08/24/2011 10:45:19 AM PDT · by Dick Holmes · 74 replies
    Forbes ^ | 8/17/2011 | Steve Denning
    How whole industries disappear Take the story of Dell Computer [DELL] and its Taiwanese electronics manufacturer. The story is told in the brilliant book by Clayton Christensen, Jerome Grossman and Jason Hwang, The Innovator’s Prescription : ASUSTeK started out making the simple circuit boards within a Dell computer. Then ASUSTeK came to Dell with an interesting value proposition: “We’ve been doing a good job making these little boards. Why don’t you let us make the motherboard for you? Circuit manufacturing isn’t your core competence anyway and we could do it for 20% less.” Dell accepted the proposal because from a...
  • China Squeezes Foreigners for Share of Global Riches (Multinationals still getting played)

    12/30/2010 8:31:29 AM PST · by TigerLikesRooster · 20 replies · 20+ views
    China Squeezes Foreigners for Share of Global Riches By SHAI OSTER, NORIHIKO SHIROUZU And PAUL GLADER BEIJING—Foreign companies have been teaming up with Chinese ones for years to gain access to the giant Chinese market. Now some of the world's biggest companies are taking a risky but potentially rewarding second step—folding pieces of their world-wide operations into partnerships with Chinese companies to do business around the globe. General Electric Co. is finalizing plans for a 50-50 joint venture with a Chinese military-jet maker to produce avionics, the electronic brains of aircraft. The deal with Aviation Industry Corp. of China would...
  • We Are Iron Man (Excellent PJTV video)

    05/23/2010 11:20:19 PM PDT · by STARWISE · 4 replies · 258+ views
    PJTV ^ | 5-19-10 | Bill Whittle
    You think Tony Stark is a bad-a$$ capitalist? Milton Friedman would kick his butt. Bill Whittle tells you why. VIDEO

    05/20/2010 5:22:08 PM PDT · by Bigun · 4 replies · 285+ views
    Classic Capital ^ | May 13, 2010 | Wayne Jett
    Financial fraud drove the U. S. and global economic collapses of 2008, and continues unabated. A U. S. Senate sub-committee heard testimony May 5 titled “The Role of Fraud in the Financial Crisis” by a notable Keynesian, James K. Galbraith. Galbraith called economics “a disgraced profession” for failing to study financial fraud. He said the heart of the U. S. financial crisis was “a breakdown in the rule of law in America.” However, there is a catch.
  • China: Crunch Time

    03/30/2010 7:46:36 PM PDT · by arthurus · 5 replies · 378+ views
    Seeking Alpha ^ | March 30,2010 | Peter Zeihan
    China has had an extraordinary run since 1980. But like Japan and Southeast Asia before it, dramatic growth rates cannot maintain themselves in perpetuity. Japan and non-Chinese East Asia didn’t collapse and disappear, but the crises of the 1990s did change the way the region worked. The driving force behind both the 1990 Japanese Crisis and the 1997 East Asian Crisis was that the countries involved did not maintain free capital markets. Those states managed capital to keep costs artificially low, giving them tremendous advantages over countries where capital was rationally priced. Of course, one cannot maintain irrational capital prices...
  • Obama taps Boeing, Xerox chiefs to lead export body

    03/11/2010 3:45:49 AM PST · by Cheap_Hessian · 8 replies · 383+ views
    Yahoo News (Reuters) ^ | March 11, 2010 | Alister Bull
    WASHINGTON (Reuters) – President Barack Obama, anxious to spur growth and tackle unemployment, will name two top executives from Boeing and Xerox on Thursday to spearhead his drive to boost U.S. exports, the White House said. Obama, who pledged in his State of the Union address to double U.S. exports over five years to support 2 million jobs, will make the announcement in Washington when he speaks to the Export-Import Bank's annual conference on his trade strategy. A White House official said Obama would name Boeing Co president and chief executive Jim McNerney and Xerox Co chief executive Ursula Burns...
  • The Fed Should Kick Its Funds Habit

    04/19/2009 10:13:09 PM PDT · by Texas Fossil · 12 replies · 280+ views
    Real Clear Markets ^ | January 10, 2008 | Wayne Jett
    Resurgence of mercantilist influence is neither coincidental nor recent. Eighty years ago, mercantilists stuck their noses back into the Republican political tent and imposed the Smoot-Hawley Tariff Act on the U. S. and the world. Franklin Roosevelt then delivered the Democratic Party to them, turning previously free-trading farmers into government-subsidized champions of trade barriers. Mercantilists won control of the Federal Reserve in 1971 after years of Keynesian whittling at the Bretton Woods pledge to keep the dollar’s value stable relative to gold.
  • Back to Mercantilism

    02/11/2009 10:56:07 PM PST · by neverdem · 10 replies · 789+ views
    American Thinker ^ | February 12, 2009 | J.R. Dunn
    I hate to hear about "partnerships" between government and business, or between government and other organizations. When there is a partnership between an ant and an elephant, who do you suppose makes the decisions? - Thomas Sowell We'll be hearing a lot about state-business "partnerships" over the months to come. Much of Obama's "stimulus" plan, and virtually the whole of the bank-bailout plan (if I'm deciphering Secretary Geithner's obscure and confusing outline correctly) are based on the concept. In fact, most of the country's financial establishment is already operating under such a compact. That being the case, a close examination...
  • When globalisation goes into reverse

    02/02/2009 11:35:19 PM PST · by TigerLikesRooster · 16 replies · 852+ views
    FT ^ | 02/02/09 | Gideon Rachman
    When globalisation goes into reverse By Gideon Rachman Published: February 2 2009 19:10 | Last updated: February 2 2009 19:10 There are rock festivals and book festivals – and then there is the annual globalisation festival, otherwise known as the World Economic Forum in Davos. For the past decade, the Davos meeting has brought together big business, high finance and top politics to promote and celebrate the integration of the global economy. Whatever their business rivalries or political differences, the Davos delegates all agreed that the road to peace and prosperity lay through more international trade and investment – globalisation,...
  • Forward to the 17th Century? Obama Advisor Preaches Mercantilism

    09/01/2008 8:43:58 AM PDT · by governsleastgovernsbest · 12 replies · 138+ views
    NewsBusters ^ | Mark Finkelstein
    Mercantilism [emphasis added]: An economic doctrine that flourished in Europe from the sixteenth to the eighteenth centuries. Mercantilists held that a nation's wealth consisted primarily in the amount of gold and silver in its treasury. Accordingly, mercantilist governments imposed extensive restrictions on their economies to ensure a surplus of exports over imports. In the eighteenth century, mercantilism was challenged by the doctrine of laissez-faire. When Barack Obama talks—and talks—about the future, does he really mean "back to the future"? You have to wonder after reading the column by one of his economic advisors in today's LA Times. In Renewing America's...
  • Bull in the China Shop

    03/27/2008 12:48:16 PM PDT · by rmlew · 25 replies · 625+ views
    The American Conservative ^ | March 10, 2008 | Eamonn Fingleton
    The U.S. is betting that a rich PRC will be democratic. Beijing disagrees. Two bets are on the table. One has been placed by the Washington establishment, the other by the Chinese Communist Party. Analyzing China’s prospects in terms of fashionable globalist ideology, Washington is betting that a rich China will be a free one. The theory is that the only way China can continue to grow is by embracing Western democracy and capitalism. Moreover, the very process of China’s enrichment is supposedly undermining the Beijing government’s authoritarianism. More wealth means more freedom means more wealth. Here is how President...
  • HTI Presents Award to Congressman (Duncan Hunter)

    02/25/2008 9:20:42 AM PST · by AuntB · 29 replies · 434+ views
    Quality Mag ^ | feb. 25, 2008 | Hand Tools Institute
    TARRYTOWN, NY—Representative Duncan L. Hunter was presented the Hand Tools Institute American Manufacturing Champion award by representatives of the Hand Tools Institute (HTI), a trade association of American hand tool manufacturers. This award is intended to recognize legislators that demonstrate strong support for manufacturing. Representative Hunter is the first recipient of this award. Scott Meyer, president emeritus of HTI presented the award to Congressman Hunter in his offices in Washington, DC. During the presentation, Mr. Myer said, “The board of directors of the Hand Tools Institute voted unanimously to present this award to you, Congressman Hunter, in recognition of your...
  • What McCain Means

    02/14/2008 8:40:16 AM PST · by AllseeingEye33 · 30 replies · 59+ views ^ | January 25 , 2008 | Patrick Buchanan
    What McCain Means by Patrick Buchanan January 25 , 2008 In 2004, the voters of Arizona, by 56 percent to 44 percent, enacted Proposition 200, requiring proof of citizenship before an individual may vote or receive state benefits. Forty-six percent of Hispanics voted for Prop. 200, giving the lie to those who say Hispanics support the illegal invasion of their country. Over 190,000 Arizonans petitioned to put Prop. 200 on the ballot. As it simply required proof of citizenship before receiving the benefits and privileges of citizenship, who could oppose it? Answer: the entire GOP congressional delegation, led by Sen....
  • Sinking Currency, Sinking Country

    11/02/2007 5:23:12 AM PDT · by Thorin · 620 replies · 282+ views
    World Net Daily ^ | 11/02/07 | Pat Buchanan
    The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century. Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800. Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years? Nope. The dollar has...
  • (Vanity) As the World Turns, or The Wild, Wild, East

    02/10/2007 6:32:33 PM PST · by grey_whiskers · 14 replies · 1,317+ views
    grey_whiskers ^ | 2-10-2007 | grey_whiskers
    Much has been written lately about the inevitable decline of the West into insignificance. Between the cultural decline (watch any episode of Jay Leno’s “Jaywalking” or American Idol), population demographics (thanks to gay marriage, fault free divorce, and the like), it is felt that the West has had its day in the sun. The heir apparent for the West is still unclear. Is it to be Islam resurgent, mounting a late-inning comeback following their humiliating defeats since the Crusades? A new Caliphate, this time astride the decaying continent of Europe? Will it be China, home of over 1 billion people,...
  • Domestic Producers Lose Increasing Share of Home Market to Foreign Competition (Tariff,anyone?)

    12/27/2006 5:22:07 AM PST · by ProCivitas · 424 replies · 3,546+ views
    U.S. Business & Industry Council ^ | 12/26/06 | Alan Tonelson ,Peter Kim
    Tuesday, December 26, 2006 Everybody knows that the loss of huge portions of their home U.S. market to imports has decimated U.S.-owned automakers Ford and GM (as well as Chrysler, which is no longer U.S.-owned, but shares many of Detroit’s biggest problems). What everybody doesn’t know is that literally dozens of U.S.-based manufacturing industries have suffered the same kinds of losses since the late 1990s. The clear bottom line, as revealed by the U.S. Business & Industry Council’s latest annual survey of domestic manufacturing’s competitiveness: The United States is a military superpower, but is steadily becoming an industrial also-ran. The...
  • How to Compete With China

    11/20/2006 11:15:44 AM PST · by Paul Ross · 129 replies · 2,350+ views
    Barron's ^ | 11/18/2006 | Peter Navarro
    IN TODAY'S GLOBAL MARKETPLACE, Chinese manufacturers can undercut competitors' prices by 30% to 50%, sometimes even more. China has captured more than 70% of the world's market for DVDs and toys; more than half for bikes, shoes, and phones; and more than a third for air conditioners, color TVs, computer monitors, luggage and microwave ovens. It also has dominant market positions in everything from furniture and washing machines to jeans and underwear.
  • ICBC Raises $19B In World's Biggest IPO

    10/20/2006 2:53:58 PM PDT · by nickcarraway · 5 replies · 319+ views
    CBS5 ^ | Oct 20, 2006
    China's biggest bank, Industrial & Commercial Bank of China, raised $19 billion Friday in the world's biggest initial public offering, pricing its IPO at the top end of expectations, thanks to overwhelming demand. The stock sale, the first ever for shares to list in both Hong Kong and Shanghai, surpasses the previous record, a $18.4 billion IPO by Japanese mobile phone company NTT DoCoMo Inc. in 1998. The state-owned bank, called ICBC, priced its Hong Kong offering at 3.07 Hong Kong dollars a share, at the top end of the indicative price range of HK$2.56-HK$3.07 ($0.33-$0.39), Dow Jones Newswires reported,...
  • Suddenly, China dominates steel industry

    07/24/2006 5:28:10 PM PDT · by Paul Ross · 63 replies · 1,598+ views
    Charleston gazette ^ | 7/23/2006 | Paul J. Nyden
    Suddenly, China dominates steel industry The Charleston Gazette (W.VA) 07/23/2006 By Author: Paul J. Nyden Today, China has the world's largest steel industry. In fact, the world's most populous nation now produces more steel than the next four largest producers combined: Japan, the United States, Russia and South Korea. Chinese mills make 31 percent of the world's steel. Between 2000 and 2005, Chinese steel production grew by 170 percent, from 126 million metric tons to 349 million metric tons. China's steel exports quadrupled between 1998 and 2005. Steel imports flooding into the United States doubled between 2000 and 2005. The...
  • China raking it in.

    06/15/2006 9:13:24 AM PDT · by Paul Ross · 1 replies · 447+ views
    ISA ^ | 6/14/2006 | Staff
    China raking it in China's trade surplus hit a monthly high in May. The surplus is on pace to surpass last year's record. May exports jumped 25.1% from a year earlier to $73.11 billion, picking up from a 23.9% increase in April, according to customs figures issued yesterday. Imports rose a more modest 21.7%. The trade surplus, the excess of exports over imports, surged to $13 billion for the month, 44% higher than in May of last year. Low-tech, labor-intensive goods like footwear and toys haven’t been great performers this year, but China’s booming electronics sector and its growing prowess...
  • Learning to love the trade deficit Commentary: Any 'cure' would be worse than the disease

    12/06/2005 1:56:38 PM PST · by Sonny M · 28 replies · 1,059+ views
    Market Watch ^ | Dec. 6, 2005 | Dr. Irwin Kellner
    HEMPSTEAD, N.Y. (MarketWatch) -- Big as it is, our trade deficit is not necessarily a bad thing. Trying to force it down, however, could be. It's been about a quarter of a century since we sold more goods to foreigners than we bought from them. In the intervening months and years, our trade deficit has grown markedly. Fourteen years ago, it took an entire year for our monthly trade deficit to total $70 billion. Now we run up this much red ink in just one month. Not surprisingly, our current account deficit, the shortfall on all trade and investment income...
  • A Portrait of My Industry,

    12/06/2005 10:34:55 AM PST · by Sonny M · 55 replies · 3,097+ views
    Opinion Journal ^ | December 6, 2005 | RICK WAGONER (C.E.O. of General Motors)
    DETROIT--Since mid-October, General Motors has announced plans to cease production at 12 North American manufacturing facilities and eliminate 30,000 jobs by 2008; trim $1 billion in net material costs in 2006; and, in cooperation with the United Automobile Workers, reduce GM's retiree health-care liabilities by $15 billion, or about 25%, for an annualized expense reduction of $3 billion. The reason for these dramatic actions is no secret: GM has lost a lot of money in 2005, due to rapidly increasing health-care and raw-material costs, lower sales volumes and a weaker sales mix--essentially, we've sold fewer high-profit SUVs and more lower-profit...
  • China emerges as global consumer (China has "eclipsed" the US as a consumer nation)

    02/17/2005 12:50:23 AM PST · by nickcarraway · 25 replies · 861+ views
    BBC ^ | Thursday, 17 February, 2005
    China has "eclipsed" the US as a consumer nation China has overtaken the US in the consumption of basic agricultural and industrial goods, a new survey says. China, with its 1.3bn population and booming economy, is now the world's biggest consumer of grain, meat, coal and steel. China is well ahead of the US in the consumption of goods such as television sets, refrigerators and mobile phones. The Washington-based Earth Policy Institute said China was now an emerging economic superpower. However, per capita consumption in China - the world's most populous country - remains far below that of the US....
  • Alexander Hamilton's Last Stand

    07/11/2004 7:21:15 AM PDT · by neverdem · 27 replies · 1,724+ views
    NY Times ^ | RON CHERNOW | July 11, 2004
    OP-ED CONTRIBUTOR Two hundred years ago today, Aaron Burr and Alexander Hamilton squared off in a sunrise duel on a wooded ledge in Weehawken, N.J., above the Hudson River. Burr was vice president when he leveled his fatal shot at Hamilton, the former Treasury secretary, who died the next day in what is now the West Village of Manhattan. New Yorkers turned out en masse for Hamilton's funeral, while Burr (rightly or wrongly) was branded an assassin and fled south in anticipation of indictments in New York and New Jersey. To the horror of Hamilton's admirers, the vice president, now...
  • Japan, Refutation of Neoliberalism

    01/07/2004 12:35:24 PM PST · by rmlew · 8 replies · 231+ views
    Post-Autistic Economics Review ^ | 5 January 2004 | Robert Locke
    No-one wants to talk about Japan these days. The conventional wisdom is that the bloom went off Japan’s economic rose around 1990 and that the utter superiority of neoliberal capitalism was vindicated by the strong performance of the American economy during the 1990s. Furthermore, everyone is now convinced that China – whose economy is 1/8 the size of Japan’s – is the rising economic power and therefore the appropriate object of attention. But Japan is, despite everything, still one of the master keys to understanding the future of the world economy, because Japan is the clearest case study of why...
  • Adam Smith’s Laissez-Fire Package: What Grampaw Forgot

    09/27/2003 1:26:26 PM PDT · by danielmryan · 12 replies · 317+ views
    Useless Knowledge ^ | Sept. 27, 2003 | Daniel M. Ryan
    Adam Smith’s Laissez-Fire Package: What Grampaw ForgotSept 27, 2003 The last article I wrote dealing with Adam Smith received an objection from a person by the nickname of “Restorer” which took me to task: [Source] The piece doesn't ever really say that Smithian economics works despite, or rather because of, the fact that its practicioners are mercantilistic in philosophy as far as their own practices go. Restorer has a good point, one explored thoroughly by Walter Wriston, chairman of what used to be Citibank back in the 1980s. According to Wriston, the market will work despite big government because Smith’s...
  • The Report on Manufactures (Hamilton's Tax & Spend Economic Package)

    07/31/2003 1:36:01 AM PDT · by GOPcapitalist · 18 replies · 773+ views
    Report on Manufactures, 1791 ^ | Alexander Hamilton
    [278](971){192}     Alexander HamiltonREPORT ON MANUFACTURESDECEMBER 5, 1791[Page numbers from Selected Writings…](Page numbers from Annals of Congress) {Page numbers from Works of Hamilton}  Scanned January, 2001 from primary sources.Contact with question, comments, corrections.     Communicated to the House of Representatives, December 5, 1791  [To the Speaker of the House of Representatives:]     The Secretary of the Treasury in obedience to the order of the House of Representatives, of the 15th day of January 1790, has applied his attention, at as early a period as his other duties would permit, to the subject of Manufactures; and particularly to the means of promoting such...