Keyword: protectionism

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  • Will the West Defend Itself?

    09/30/2014 2:48:56 AM PDT · by markomalley · 6 replies
    Creators ^ | 9/29/2014 | Walter Williams
    The Islamic State of Iraq and the Levant (ISIL), sometimes called ISIS or IS, is a Sunni extremist group that follows al-Qaida’s anti-West ideology and sees a holy war against the West as a religious duty. With regard to nonbelievers, the Quran commands, “And kill them wherever you find them, and turn them out from where they have turned you out.” The Quran contains many other verses that call for Muslim violence against nonbelievers for the sake of Islamic rule.Contrast the words of the Quran with the statements of limp-wristed Western leaders such as this by President Barack Obama: “We...
  • Rise of protectionism in China a threat to commodities imports

    11/14/2014 4:39:51 PM PST · by TigerLikesRooster · 3 replies
    Reuters ^ | Fri Nov 14, 2014 | Fayen Wong
    Rise of protectionism in China a threat to commodities imports By Fayen Wong SHANGHAI Fri Nov 14, 2014 1:12pm EST (Reuters) - As China lobbies world leaders to back its free trade plan at an Asia-Pacific summit this week, businesses are complaining about Beijing's use of non-tariff barriers from customs clearance to quality restrictions to curb raw material imports. Amid a slowdown in economic growth, the world's top commodities buyer is facing a supply glut that has sent local prices tumbling and miners deep into the red. Inventories of iron ore, coal and cotton are bulging at ports across the...
  • NLRB Wants to Stop Businesses From Moving

    04/09/2014 11:56:13 PM PDT · by 2ndDivisionVet · 17 replies
    RealClearPolicy ^ | April 7, 2014 | Peter Schaumber
    Richard Griffin, the new general counsel of the National Labor Relations Board, wants to give unions a veto over a unionized employer's decision to relocate. If Griffin has his way, and he most assuredly will, some unionized businesses will be pinned in place at the discretion of their unions. The change Griffin is contemplating is unnecessary and inconsistent with both the law and the dynamics of our free-enterprise system. It will upset the balance mandated by the Supreme Court and should send a chill up the spine of unionized companies contemplating relocating an operation. Griffin's intent was disclosed in a...
  • Buy America Is Economic Suffocation

    08/12/2013 4:13:31 AM PDT · by expat_panama · 59 replies
    Forbes ^ | 8/06/2013 | Jens F. Laurson and George Pieler
    The World Trade Organization reports that the growth rate of global trade fell sharply from over 5% in 2011 to around 2% in 2012. [snip]...the U.S.’ “Buy American” initiative on government procurement (folded into the Obama stimulus package in 2009) probably restrained trade flows in a near-negligible way. No doubt that’s true, since it’s confined to certain categories of construction procurement and has more than a few loopholes. But does this mean that Buy American, or Buy French, or Buy Japanese, or Buy Madagascar stipulations on procurement are harmless after all?[snip]... the Dean Baker analysis reduces “Buy American” to the...
  • The Pope and Godless Capitalism (Globalism)

    05/11/2013 4:18:13 AM PDT · by Colonel Kangaroo · 38 replies
    Real Clear Politics ^ | May 3, 2013 | Pat Buchanan
    "This is called slave labor," said Pope Francis. The Holy Father was referring to the $40 a month paid to apparel workers at that eight-story garment factory in Bangladesh that collapsed on top of them, killing more than 400. "Not paying a just wage ... focusing exclusively on the balance books, on financial statements, only looking at personal profit. That goes against God!" The pope is describing the dark side of globalism Why is Bangladesh, after China, the second-largest producer of apparel in the world? Why are there 4,000 garment factories in that impoverished country which, a few decades ago,...
  • New Pacific Trade Deal With Japan Is Game Changer

    04/30/2013 6:18:19 PM PDT · by expat_panama · 74 replies
    For anybody disheartened about years of disappointing economic news, Japan's recent announcement that it intends to join the Trans-Pacific Partnership (TPP) offers a real reason to celebrate.Free trade agreements (FTAs) historically are some of the most surefire ways to open up new markets to U.S. exporters while enhancing American interests abroad. They create economic growth by fostering innovation and efficiency and, as a bonus, they generally produce invaluable political benefits.As FTAs go, Japan's participation in TPP makes this trade pact the Super Bowl and the World Cup of trade agreements wrapped into one. It's a game changer.It will give American...
  • Genetically Modified Crops Protected By New Budget Bill

    03/27/2013 8:56:43 PM PDT · by Tolerance Sucks Rocks · 36 replies
    Last Resistance ^ | March 27, 2013 | Dave Jolly
    Genetically modified crops are not just those that have been selectively bred, but they have had their DNA modified in some way as to make them more pest resistant and produce better yields. In many cases genes from other plants or even bacteria have been added to the DNA of a specific plant.This process has caused great concern among some that question whether the plants with modified genes are safe for human consumption or if there may be any long-term effects from the continual eating of these plants. There have been numerous challenges to the use of genetically modified crops...
  • Another Tax-the-Rich Plan Introduced in Congress

    03/08/2013 9:59:55 AM PST · by Olog-hai · 24 replies
    Cybercast News Service ^ | March 8, 2013 | Susan Jones
    Congressional liberals aren’t done taxing wealthy Americans. On Thursday, Sens. Bernie Sanders (I-Vt.) and Rep. Peter DeFazio (D-Ore.) introduced the Keeping Social Security Promises Act, which asks the wealthiest Americans to “pay their fair share into the fund.” “The people on top are doing phenomenally well,” Sanders told a news conference on Thursday. “It is time to ask them to help us, in this case with making sure Social Security is there for our kids and grandchildren.” The bill would require those with yearly incomes of $250,000 or more to pay the same 6.2 percent payroll tax that is currently...
  • Tim Carney: Sugar industry would wither without big government

    02/05/2013 6:46:22 AM PST · by Academiadotorg · 28 replies
    The Washington Examiner ^ | February 4, 2013 | Tim Carney
    SOUTH BAY, Fla. -- From a distance it looks as if tornadoes are churning in the fields. But as you get closer, you see that the dark plumes are clouds of black smoke. And if your smell is keen enough, you realize it's sugar cane that's burning. Trucks hauling trailers full of cane stalks crowd the northbound lanes of Route 27 for a stretch just south of Lake Okeechobee. In the southbound lanes the trailers are empty. They're running between the cane fields that dominate this northernmost part of the Everglades and the Okeelanta sugar mill, owned by the Fanjul...
  • 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...
  • The Conservative Case Against Free Trade

    03/03/2012 9:07:29 PM PST · by ianfletcher · 21 replies
    Free Trade Doesn't Work ^ | March 1, 2012 | Ian Fletcher
    Protectionism, and economic nationalism more generally, are usually held up by the supposed sophisticates today as dumb ideas. Sometimes, of course, they are. Bone-headed protectionism belongs in the junkyard of history with all the other ideologies rusting there. Nothing in this booklet is intended to defend it. But it can also be a smart, productive, pro-growth policy—and very much in the American and conservative traditions—when implemented correctly. The fundamental message of this booklet is that nations, including the U.S., should seek strategic, not unconditional integration with the rest of the world economy. Economic openness, like most things in life, is...
  • Sugar Tariffs Cost Americans $3.86 Billion in 2011

    01/28/2012 4:40:52 PM PST · by BfloGuy · 52 replies
    Carpe Diem ^ | Jan. 28, 2012 | Mark Perry
    The chart above displays annual refined sugar prices (cents per pound) using data from the USDA (Tables 2 and 5) between 1982 and 2011 for: a) the U.S. wholesale refined sugar price at Midwest markets, and b) the world refined sugar price. Due to import quota restrictions that strictly limit the amount of imported sugar coming into the U.S. at the world price, the domestic producers are protected from more efficient foreign sugar growers who can produce cane sugar in Central America, Africa and the Caribbean at half the cost of beet sugar in Minnesota and Michigan. Of course,...
  • Romney's Threat to China

    10/27/2011 6:21:37 AM PDT · by Kaslin · 14 replies ^ | October 27, 2011 | Jeff Jacoby
    In his 2010 book "No Apology," Mitt Romney has a lot to say about China, much of it unfavorable. He writes of Beijing's "brutal repression and incarceration of dissidents." He decries the brazenness of Chinese enterprise, with its "rampant theft of intellectual property from Western businesses." He warns that China's "aggressive pursuit" of cyber-warfare capabilities has made it "the most active cyber-combatant in the world." He details the ominous Chinese military buildup in combat aircraft, submarines, and ballistic missiles. He laments the communist government's willingness to shield the odious regimes in Iran and Sudan from international sanction. Nevertheless, Romney's criticism...
  • Court says cities can ban layoffs by new owners

    07/19/2011 9:40:09 AM PDT · by Nachum · 98 replies
    San Francisco Chronicle ^ | 7/19/11 | Bob Egelko
    California cities can protect workers from being fired immediately when their company changes owners, the state Supreme Court ruled Monday.The 6-1 decision reinstated a Los Angeles ordinance, struck down by lower courts, that required supermarkets to keep their workforce for 90 days after a new owner takes over. Similar laws covering different industries are in effect in other cities - including Oakland, San Jose, Berkeley and Emeryville - and the state also has a law protecting janitors who work for building contractors. "When you're keeping a business open and all you're doing is changing the name
  • NAFTA, China, and the Red Herrings of the Unemployment Debate

    05/19/2011 3:36:58 PM PDT · by jfd1776 · 4 replies
    Illinois Review ^ | May 19, 2011 A.D. | John F. Di Leo
    Donald Trump’s short-lived presidential campaign wasn’t the first to try to make Communist China the villain in our economic debate… but he did feature it more prominently in his attempt at populism than most do. Others choose NAFTA as their whipping post, since everybody’s heard of it, and its birth at the hands of both Bush I and Clinton makes it an easy target for folks who want to pin the blame on the domestic establishment, rather than a foreign culprit across the sea. Unfortunately for their case, they’re both wrong. The cause of our economic doldrums is much closer...
  • Fair Trade Revealed As Just a Feel-Good Hoax

    05/16/2011 4:50:55 AM PDT · by SeekAndFind · 5 replies
    Kids Prefer Cheese ^ | 05/15/2011 | Mungowitz
    I have for some time been a basher and hater of "Fair Trade," in coffee and other commodities. In fact, as far as I'm concerned, Russ Roberts and I podcastrated the whole issue nearly four years ago. Sarah Marchmont wrote a very fair-minded article about it. Here is the basic economics--a rent is being created: a price above market price is being charged. In countries where property rights, contracts, and rule of law is tenuous, feel-gooders and scam artists have put together an unholy coalition. The feel-gooders create something called "Fair Trade" certification, which means that the farmers get...
  • American Companies: Chinese Protectionism Is Rising (CHINA FOLLOWS JAPANESE MODEL)

    04/26/2011 12:22:43 PM PDT · by Chi-townChief · 21 replies
    Industrial Maintenance and Plant Operations ^ | April 26, 2011 | Joe McDonald, AP Business Writer
    <p>BEIJING (AP) — Chinese protectionism has increased since the 2008 global crisis and U.S. companies are being hurt by Beijing's policies aimed at developing its technology industries, a business group said Tuesday.</p> <p>A report by the American Chamber of Commerce in China adds to mounting complaints that Beijing is violating the spirit of its free-trade pledges by limiting market access and trying to shield its fledgling technology industries from competition.</p>
  • Time to Quit Pining for a “Level Playing Field” in International Trade

    03/18/2011 12:01:00 AM PDT · by ianfletcher · 14 replies
    Seeking Alpha ^ | 03/17/2011 | Ian Fletcher
    One of the most common plaints from those who are upset about America’s current trade mess is “just give us a level playing field.” In particular, this is what one tends to hear from American businesses (at least those which have resisted the siren song of offshoring) that are hard pressed by “unfair” foreign competition. It’s hard not to be sympathetic, and on an individual basis, my heart goes out to them. Unfortunately, the whole idea of a level playing field in international trade is basically a mirage as an aspiration, and we’ll all be better off if we stop...
  • Optimal Currency Areas and Optimal Free-Trade Areas: The Case for Economic Borders

    03/09/2011 8:47:14 PM PST · by ianfletcher · 8 replies
    Seeking Alpha ^ | February 25, 2011 | Ian Fletcher
    Why have nations at all, economically speaking? This question is provoked by the fact that every few months, without fail, somebody writes to me and asks why, if the protectionism I advocate between the U.S. and the rest of the world is rational, why isn't it rational to have tariffs between the various states of the U.S.? And since it clearly doesn't make any sense to have tariffs on trade between, say, California and Oregon, it follows that nations shouldn't practice economic protectionism either. Sounds good. In fact, some people proffer this argument as if it, on its own, settled...
  • America's Trade Imbalance: The Biggest Bubble of All Has Yet to Pop

    02/21/2011 1:48:29 PM PST · by ianfletcher · 32 replies
    Seeking Alpha ^ | February 20, 2011 | Ian Fletcher
    Americans presumably realize by now that living in a bubble economy, while exhilarating as long as the champagne lasts, is not a good move. Therefore it is worth understanding why the biggest bubble of all may be yet to pop. I refer to America's trade imbalance with the rest of the world. As I explained in a previous article, our trade deficit with the rest of the world means that we must a) borrow money and b) sell existing assets in order to cover the yawning gap between our imports and our exports. And while a rich nation can indeed...
  • Challenging The Conventional Wisdom on Free Trade

    02/18/2011 9:27:53 PM PST · by ianfletcher · 10 replies
    Activist Post ^ | 2/18/2011 | Ian Fletcher
    Free trade has been the conventional wisdom in the U.S. for so long that many people have forgotten that it is even possible to challenge its fundamental assumptions. It is supposedly a settled truth of economics that free trade is always best and that anyone who questions it is either merely ignorant or the spokesperson of some special interest. Protectionism supposedly belongs to the dark past —despite the fact that we ourselves accuse some of the world’s most successful economies, like China, of practicing it in the 21st century. But in reality, free trade is not generating rising prosperity, rather...
  • 'Fair Trade'? Free Trade Is Fair Trade

    12/29/2010 6:13:39 PM PST · by BfloGuy · 76 replies · 22+ views ^ | 12/27/2010 | Walter Williams
    Last summer, I purchased a 2010 LS 460 Lexus, through a U.S. intermediary, from a Japanese producer for $70,000. Here's my question to you: Was that a fair trade? I was free to keep my $70,000 or purchase the car. The Japanese producer was free to keep his Lexus or sell me the car. As it turned out, I gave up my $70,000 and took possession of the car, and the Japanese producer gave up possession of the car and took possession of my money. The exchange occurred because I saw myself as being better off and so did the...
  • America was founded as a protectionist nation

    09/13/2010 10:42:54 AM PDT · by rmlew · 72 replies · 2+ views
    The Daily Caller ^ | 9/13/2010 | Ian Fletcher
    Contemporary American politics is conducted in the shadow of historical myths that inform our present-day choices. Unfortunately, these myths sometimes lead us terribly astray. Case in point is the popular idea that America’s economic tradition has been economic liberty, laissez faire, and wide-open cowboy capitalism. This notion sounds obvious, and it fits the image of this country held by both the Right, which celebrates this tradition, and the Left, which bemoans it. And it seems to imply, among other things, that free trade is the American Way. Don’t Tread On Me or my right to import. It is, in fact,...
  • Green Protectionism

    08/17/2010 7:59:52 AM PDT · by TigerLikesRooster · 1 replies
    The American ^ | 08/11/10 | James M. Roberts
    Green Protectionism By James M. Roberts Wednesday, August 11, 2010 European policy makers and environmental groups want to restrict imports—but not in order to save the planet. A recent article in the New York Times featured unsubstantiated accusations by Greenpeace that Indonesian pulp, paper, and palm oil conglomerate Sinar Mas is “secretly planning a massive expansion of pulp mills and cutting down essential forests, including habitats for endangered tigers.” Alleging serious ecological harm, Greenpeace—along with the World Wildlife Fund, Friends of the Earth, and the Rainforest Action Network—is advocating trade restrictions on these products from Indonesia. This attack on Indonesia’s...
  • SHIP OF FOOLS ( How the Protectionist Jones Act is Hampering the Oil Spill Cleanup )

    06/14/2010 10:38:26 AM PDT · by SeekAndFind · 34 replies · 466+ views
    We learned a simple thing this week: that the BP clean-up effort in the Gulf of Mexico is hampered by the Jones Act. This is a piece of 1920s protectionist legislation, that requires all vessels working in U.S. waters to be American-built, and American-crewed. So while, for instance, the U.S. Coast Guard can accept such help as three kilometres of containment boom from Canada, they can't accept, and therefore don't ask for, the assistance of high-tech European vessels specifically designed for the task in hand. This is amusing, in a way: a memorable illustration of ... the sort of stuff...
  • Protectionism Did Not Cause the Great Depression

    06/06/2010 8:50:52 AM PDT · by SeekAndFind · 17 replies · 662+ views
    American Thinker ^ | 04/2010 | Ian Fletcher
    The debate over free trade is riddled with myth after myth. One that keeps resurfacing, no matter how many times it is discredited, is the idea that protectionism caused the Great Depression. One occasionally even hears that this same protectionism -- specifically, the Smoot-Hawley tariff of 1930 -- was responsible in significant part for World War Two! This is nonsense dreamed up for propaganda purposes by free traders, and it can easily be debunked. Let's start by reminding ourselves of a basic fact: The Depression's cause was monetary. The Federal Reserve had allowed the money supply to balloon excessively during the...
  • The Triumph of Murthanomics

    05/19/2010 5:24:00 AM PDT · by Scanian · 22 replies · 667+ views
    The American Spectator ^ | May 19, 2010 | Robert Stacy McCain
    WASHINGTON, Pa. -- Bill Steiner had a simple explanation for Tuesday night's result in Pennsylvania's 12th District. "It's Murtha's ghost," said Steiner, about a half-hour after Republican Tim Burns had conceded to Democrat Mark Critz, former aide to the late Rep. John Murtha. "People were afraid to change." Murtha died in February, three weeks after Republican Scott Brown had won the Massachusetts Senate seat held for more than four decades by Ted Kennedy, and the GOP clearly hoped to carry that momentum into the special election to fill the House seat that Murtha had held since the mid-1970s. What happened...
  • Protectionism Didn't Cause the Great Depression (The Depression's cause was monetary)

    04/09/2010 9:52:32 AM PDT · by SeekAndFind · 23 replies · 547+ views
    American Thinker ^ | 04/09/2010 | Ian Fletcher
    The debate over free trade is riddled with myth after myth. One that keeps resurfacing, no matter how many times it is discredited, is the idea that protectionism caused the Great Depression. One occasionally even hears that this same protectionism -- specifically, the Smoot-Hawley tariff of 1930 -- was responsible in significant part for World War Two! This is nonsense dreamed up for propaganda purposes by free traders, and it can easily be debunked. Let's start by reminding ourselves of a basic fact: The Depression's cause was monetary. The Federal Reserve had allowed the money supply to balloon excessively during...
  • White British actresses told to leave Bollywood

    03/17/2010 10:10:45 PM PDT · by TigerLikesRooster · 36 replies · 1,375+ views
    Telegraph ^ | 03/17/10 | Dean Nelson
    White British actresses told to leave Bollywood British actresses who appear in Bollywood films are being targeted in a hate campaign by one of India's most feared political leaders. By Dean Nelson in New Delhi Published: 5:55PM GMT 17 Mar 2010 Actress Hazel Crowney: British actresses have flocked to Bollywood Stars including Alice Patten, the daughter of Lord Patten of Barnes, and Hazel Crowney, a former model from Kent, have been accused of stealing jobs from local girls. Raj Thackeray's Maharashtra Navnirman Sena (MNS), a Mumbai nationalist street gang and political party which inspires terror throughout the city, has called...
  • 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...
  • Free Trade Smackdown: Cato vs. USBIC, Griswold vs. Fletcher

    03/03/2010 4:32:58 AM PST · by ianfletcher · 13 replies · 376+ views
    WorldTradeLaw.Net ^ | March 1, 2010 | Ian Fletcher
    Free Trade Smackdown: Cato vs. USBIC, Griswold vs. Fletcher Street America Benefits from Global Engagement By Daniel Griswold Americans are better off today because of our greater freedom to trade and work with people around the world. Our growing engagement in the world economy has delivered real benefits to Main Street Americans. Competition from trade has blessed American families with lower prices, more choice, and better quality when we spend our paychecks. Because of trade, consumers pay lower prices for food, clothing, shoes, electronics, and cars, which translate directly into higher real incomes. The cars we drive today are...
  • China to levy anti-dumping duties on US chicken

    02/05/2010 12:52:46 AM PST · by Cheap_Hessian · 19 replies · 582+ views
    Reuters (UK) ^ | February 5, 2010 | Lucy Hornby and Niu Shuping
    BEIJING, Feb 5 (Reuters) - China will levy heavy anti-dumping duties on U.S. chicken products, its Commerce Ministry said on Friday, a move likely to aggravate trade relations and antagonise one of the few U.S. industries that profitably exports to China. The ministry's initial investigation showed that U.S. companies had dumped chicken products into the Chinese market, according to the ministry's website ( The tariffs were announced a day after China requested a World Trade Organisation ruling on European Union duties on shoes made in China. That was the most recent of many cases demonstrating China's embrace of the WTO...
  • Free Trade Doesn't Work: Why America Needs a Tariff

    01/31/2010 6:42:57 PM PST · by ianfletcher · 75 replies · 1,368+ views
    Free Trade Doesnt Work ^ | January 30, 2010 | Ian Fletcher
    This very readable book is aimed at both ordinary concerned citizens and people with a bit of sophistication about economics. It is a systematic examination of why free trade is slowly bleeding America's economy to death and what can be done about it. It explains in detail why the standard economic arguments free traders use all the time are false, and what kind of economic ideas — well within the grasp of the average American — justify protectionism instead. It examines the history and politics of free trade and explains how America came to adopt its present disastrous free trade...
  • At Davos, the globalizers are gone

    01/29/2010 8:42:55 PM PST · by Cheap_Hessian · 8 replies · 509+ views
    The Washington Post ^ | January 30, 2010 | Ian Bremmer
    For 40 years there's been a consensus view at the Davos World Economic Forum that globalization's increasingly free cross-border flow of ideas, information, people, money, goods and services is both irreversible and a powerful force for prosperity. As with meetings of the G7 group of industrialized nations, there was broad agreement on the proper role for the state in the performance of markets. Sure, a French cabinet official and an American investment banker might spar over the relative merits of state paternalism and Anglo-Saxon labor laws, but the bargaining table was still reserved for champions of Western-style free market capitalism....
  • US slaps duties on electric blankets from China

    01/27/2010 4:09:05 PM PST · by Cheap_Hessian · 21 replies · 662+ views
    Reuters ^ | January 27, 2010 | Doug Palmer
    WASHINGTON, Jan 27 (Reuters) - The United States has set preliminary anti-dumping duties ranging from 90 to nearly 175 percent on about $30 million worth of electric blankets from China, the U.S. Commerce Department said on Wednesday. The ruling is a victory for Jarden Consumer Solutions, a Florida-based subsidiary of consumer products company Jarden Corp (JAH.N). It filed a petition earlier this year asking for protection against its Chinese competitors. The relatively small case is of one several ongoing U.S. investigations into charges that Chinese companies are selling their goods in the United States at unfairly low prices and benefit...
  • International Trade

    12/25/2009 5:16:26 PM PST · by LifeComesFirst · 10 replies · 330+ views
    On the topic of international trade, the views of economists tend to differ from those of the general public. There are three principle differences. First, many noneconomists believe that it is more advantageous to trade with other members of one’s nation or ethnic group than with outsiders. Economists see all forms of trade as equally advantageous. Second, many noneconomists believe that exports are better than imports for the economy. Economists believe that all trade is good for the economy. Third, many noneconomists believe that a country’s balance of trade is governed by the “competitiveness” of its wage rates, tariffs, and...
  • Anti-protectionism in the Confederate States Constitution

    12/10/2009 12:17:26 PM PST · by TitleX · 18 replies · 498+ views
    The Powers of Congress, Article I section viii from the Confederate States Constitution includes a strong statement against protectionism: "nor shall any duties or taxes on importations from foreign nations be laid to promote or foster any branch of industry" I think it's interesting to compare this with McCain's S.Amdt.279 to ARRA, "To prohibit the applicability of Buy American requirements in the Act to the utilization of funds provided by the Act." McCain's amendment would essentially gut the [protectionist] Buy American provision, so his amendment is in line with the Confederate States Constitution. I wondered if the votes on the...
  • Immigration Enforcement — A Jobs Program

    12/03/2009 10:48:00 AM PST · by Delacon · 16 replies · 850+ views
    National Review Online/ The Corner ^ | 12/03/09 | Mark Krikorian
    When I linked to a USA Today story the other day about Americans elbowing illegals out of the way for day-labor jobs, under my headline of "And Yet, We Still Haven't Suspended Immigration," one reader replied, "Yah, because protectionism is clearly the answer for our economic woes." This betrayed a widespread misconception about immigration and trade, one that's important to keep in mind as the president unveils the political theater production called his "Jobs Summit." Restricting immigration is fundamentally different from restricting trade in two ways, one theoretical, one practical. First, people are not things — in addition to being...
  • China Currency Manipulation About To Trigger Protectionism Crisis

    11/15/2009 11:46:13 AM PST · by blam · 9 replies · 733+ views
    The Market Oracle ^ | 11-15-2009 | Bryan Rich
    China Currency Manipulation About To Trigger Protectionism Crisis Currencies / China Currency Yuan Nov 15, 2009 - 06:38 AM By: Bryan_Rich I’ve written several times here in Money and Markets about the geopolitical time bomb surrounding China’s currency manipulation. The most recent was in my October 31 column. I expect this issue to grow in intensity and become a major point of contention for the global economy in the coming year. In recent days the chatter about China and its artificially weak yuan has been picking up. The Europeans have become more vocal about the problems a weak yuan is...
  • Artificially-Sweetened Prices

    11/11/2009 10:41:46 AM PST · by bs9021 · 5 replies · 364+ views
    Accuracy in Academia ^ | November 11, 2009 | Sarah Carlsruh
    Artificially-Sweetened Prices Sarah Carlsruh, November 11, 2009 Do America’s sugar policies harm consumers? “America’s highest remaining trade barriers are aimed at products mostly grown and made by poor people abroad and disproportionately consumed by poor people at home,” wrote Daniel Griswold in a September 29th Washington Times article. He then identified numerous government trade policies that adversely affect low-income populations: Chinese tire tariffs increased the price of low-cost tires, cash-for-clunkers increased the price of used vehicles, and the 2008 farm bill imposed tariffs on staples such as “imported sugar, milk and cheese.” Daniel Griswold, director of the Center for Trade...
  • Protectionism vs. the Innovation Nation (the new rules of outsourcing, production, and innovation)

    10/16/2009 7:55:33 AM PDT · by SeekAndFind · 18 replies · 569+ views
    The American ^ | 10/16/2009 | Vivek Wadhwa
    On September 9, the giant data storage hardware and software company EMC announced it would spend $1.5 billion to further develop its R&D capabilities in India. A new research facility will employ 2,000 engineers and scientists with the potential for an additional 1,500. A day earlier, EMC announced a R&D alliance with the Indian Institute of Information Technology-Bangalore, one of a constellation of Indian research universities equivalent to the Massachusetts Institute of Technology, albeit with harder admissions requirements. Such announcements are usually met with despair and anger. The decision to domicile those jobs in India nails yet another in the...
  • Tire Trade Tirade

    10/12/2009 12:43:05 PM PDT · by Neil Peart · 4 replies · 615+ views
    Mises Institute ^ | 10-12-09 | Art Carden
    In 2002, President George W. Bush helped make us poorer by signing off on higher steel tariffs. In 2009, President Barack Obama helped make us poorer by signing off on higher tire tariffs. Is this supposed to be change we can believe in? Economic analysis shows that trade creates wealth. The law of comparative advantage demonstrates that when we specialize and trade, we produce more wealth using the same resources. Preventing trade means that we use more resources to produce less wealth.
  • Paper: The Next Trade Skirmish (After tires, this time BOTH China and Indonesia are targets)

    09/24/2009 1:03:40 PM PDT · by SeekAndFind · 4 replies · 353+ views
    Forbes ^ | 9/24/2009 | Hana R. Alberts
    HONG KONG -- A trade tiff over tires may escalate into a full-fledged trade war, with American unions taking on Asian exporters. Three American paper companies, joined by the union that represents their workers, charged on Wednesday that unfair trade practices in China and Indonesia have cost thousands of Americans their jobs by driving down the cost of paper. The three companies plus the United Steelworkers (USW) union submitted petitions to the U.S. Department of Commerce and the International Trade Commission (ITC). They claimed that certain types of coated paper imported from China and Indonesia have eliminated thousands of American...
  • America's Tired Protectionism

    09/14/2009 5:35:42 PM PDT · by Kaslin · 17 replies · 421+ views
    IBD Editorials ^ | September 14, 2009
    Trade: President Obama has fired the opening salvo in a trade war with China by slapping 35% tariffs on its tires. But besides giving China a kick, this protectionism will harm Americans across the economy.Sec. 421 of the 1974 Trade Act, intended to control surges in imports. But the markets paid attention. Global stock futures tumbled over the weekend. Asian markets dropped sharply Monday, fearing a wave of U.S. protectionism. China called the U.S. move "rampant protectionism" and vowed to investigate dumping charges against U.S. auto parts and chicken, two industries that have made inroads into the China market. The...
  • Report: Protectionist Measures Rise

    09/14/2009 11:50:31 AM PDT · by jazusamo · 3 replies · 232+ views
    The Wall Street Journal ^ | September 14, 2009 | John W. Miller
    BRUSSELS -- This weekend's U.S.-China trade skirmish is just the tip of a coming protectionist iceberg, according to a report released Monday by Global Trade Alert, a team of trade analysts backed by independent think tanks, the World Bank and the U.K. government. A report by the World Trade Organization, backed by its 153 members and also released Monday, found "slippage" in promises to abstain from protectionism, but drew less dramatic conclusions. (Read the report.) Governments have planned 130 protectionist measures that have yet to be implemented, according to the GTA's research. These include state aid funds, higher tariffs, immigration...
  • China investigates US auto, chicken imports

    09/13/2009 8:27:41 AM PDT · by blueyon · 17 replies · 1,071+ views
    China Daily ^ | 9+-13-09 | Agencies
    BEIJING: China is launching antidumping investigations into imported US auto and chicken products, the government said Sunday, adding to a string of trade disputes with Washington including a recent decision to raise tariffs on Chinese-made tires.
  • A Protectionist Wave--Obama invites a rush of similar claims with his tariffs on Chinese tires

    09/12/2009 10:27:14 AM PDT · by jazusamo · 56 replies · 1,232+ views
    The Wall Street Journal ^ | September 12, 2009 | Editorial
    The White House leaked word late Friday evening that the U.S. will impose a 35% tariff on imported Chinese tires used by millions of low-income Americans. We wonder if President Obama understands the political forces he's unleashing with this blatant protectionism. Mr. Obama is setting a precedent in the tire case because he is applying a previously unused part of the trade law known as Section 421. This allows U.S. industries or unions to seek protection from "surges" of Chinese imports, with a lower burden of proof than normal antidumping or countervailing duty cases. President Bush nixed the four Section...
  • Obama to impose tariffs on Chinese tires

    09/11/2009 6:31:49 PM PDT · by traumer · 40 replies · 1,312+ views
    Obama decides to impose tariffs on Chinese tire imports for 3 years WASHINGTON (AP) -- President Barack Obama has decided to slap punitive tariffs on all car and light truck tires entering the United States from China. Obama had until Sept. 17 -- next week -- to accept, reject or modify a U.S. International Trade Commission ruling that a rising tide of Chinese tires into the U.S. hurts American producers. A powerful union, United Steelworkers, blames the increase for the loss of thousands of American jobs. The federal trade panel recommended a 55 percent tariff in the first year, 45...
  • World faces hi-tech crunch as China eyes ban on rare metal exports

    08/24/2009 1:17:00 PM PDT · by Cheap_Hessian · 13 replies · 900+ views
    Telegraph (UK) ^ | August 24, 2009 | Ambrose Evans-Pritchard
    Beijing is drawing up plans to prohibit or restrict exports of rare earth metals that are produced only in China and play a vital role in cutting edge technology, from hybrid cars and catalytic converters, to superconductors, and precision-guided weapons. A draft report by China’s Ministry of Industry and Information Technology has called for a total ban on foreign shipments of terbium, dysprosium, yttrium, thulium, and lutetium. Other metals such as neodymium, europium, cerium, and lanthanum will be restricted to a combined export quota of 35,000 tonnes a year, far below global needs. China mines over 95pc of the world’s...
  • Protectionism Exposed

    08/06/2009 5:32:10 AM PDT · by expat_panama · 3 replies · 211+ views
    Wall Street Journal ^ | AUGUST 5, 2009 | CHAD P. BOWN
    In May, the United States slapped new tariffs on steel pipe imports from China. In June, China imposed new barriers on U.S. and European Union exports of adipic acid, an industrial chemical used to make nylon and polyester resin. In July, the EU also decided to restrict imports of steel pipe from China. The important question now is, do these events foreshadow spiraling protectionism and tit-for-tat retaliation that threaten a global trade war? Or is trade policy always like this, and we’re just noticing more now, given the global slowdown and heightened fears of Smoot-Hawley-style protectionism? [snip]The count of newly...