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Keyword: trade

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  • Crony Corporatism Shouldn’t Be Fast Tracked

    03/15/2014 3:41:02 PM PDT · by Kaslin · 7 replies ^ | March 15, 2014 | Jerry Rogers
    Historians will one day look back at the presidency of Barack Obama and highlight the administration’s dangerous willingness to short-circuit the Constitution when convenient. From refusing to enforce immigration laws and disregarding rules governing presidential appointments to the outright takeover of our health care system, President Obama has repeatedly painted outside the lines to reward his friends, punish his enemies or to achieve his legislative and political objectives. There can be little debate that Hollywood and the recording industry have been some of the president’s strongest allies. They invested millions in his reelection campaign and are often credited with helping...
  • Mintspare Will Pay Bitcoin For Your Old Electronics

    03/13/2014 7:04:19 PM PDT · by Errant · 5 replies
    Coin Desk ^ | 13 March 2014 | Daniel Cawrey
    Consumers can now receive bitcoin when they trade in their old electronics through a new startup called Mintspare. Galfry Puechavy, Mintspare’s CEO, told CoinDesk that the company’s goal is to be a simple way to get started with bitcoin:
  • Trump Wows CPAC: Says Putin 'Toying With Obama'

    03/06/2014 5:28:05 PM PST · by DannyTN · 54 replies ^ | Thursday, 06 Mar 2014 06:52 PM | Todd Beamon
    Billionaire businessman Donald Trump ditched the teleprompter at the Conservative Political Action Conference on Thursday and received huge ovations as he slammed President Barack Obama's leadership both at home and abroad. "We have so many problems — and we have so little leadership," Trump said at the session in suburban Washington. "It's all about the leadership." He cited China's move this week to devalue its currency against the American dollar, as well as Russian President Vladimir Putin's assault on Ukraine as examples of the United States' decline as a world power. "The reason why they're doing it is because our...
  • Europe Tells U.S. To Lay Off Brie And Get Its Own Cheese Names

    03/04/2014 3:03:59 PM PST · by Theoria · 36 replies
    NPR ^ | 04 Mar 2014 | Latoya Dennis
    What's in a name? It's an age-old question Juliet once asked Romeo in Shakespeare's famed play.Today, it's a serious question between the U.S. and the European Union, which has said it wants U.S. food makers to stop using European names.But depending on what food you're talking about, a name could be a lot, says Kyle Cherek, the producer and host of a TV show called Wisconsin Foodie.Cherek argues that certain products are so unique that only one country or region should be allowed to lay claim. So, for example, he says only onions from Vidalia, Ga., should be called American...
  • China Starts To Make A Power Move Against The US Dollar

    02/21/2014 8:11:40 PM PST · by Tolerance Sucks Rocks · 38 replies
    Freedom Outpost ^ | February 21, 2014 | Michael Snyder
    In order for our current level of debt-fueled prosperity to continue, the rest of the world must continue to use our dollars to trade with one another and must continue to buy our debt at ridiculously low interest rates. Of course the number one foreign nation that we depend on to participate in our system is China. China accounts for more global trade than anyone else on the planet (including the United States), and most of that trade is conducted in U.S. dollars. This keeps demand for our dollars very high, and it ensures that we can import massive quantities...
  • Exports to Mexico and China Increasing

    02/20/2014 11:58:56 AM PST · by MichCapCon · 8 replies
    Capitol Confidential ^ | 2/17/2014 | James Hohman
    Mexico and China have been painted by many politicians and unions as enemies to the American economy. Those two countries and Canada helped Michigan set a record for exports in 2013 of $58.46 billion, according to the U.S. Department of Commerce, topping the 2012 mark of $56.99 billion. Canada was the No. 1 consumer of Michigan goods at $25.94 billion, up from $25.4 billion in 2012. Mexico was No. 2 at $12.17 billion, a 16 percent increase from 2012. China was No. 3 at $4.15 billion, a 27 percent increase from 2012. Michigan's exports to China have increased from $211...
  • Ice continues to fall from World Trade Center as pedestrians run for cover

    02/09/2014 3:15:16 PM PST · by Libloather · 30 replies
    NY Daily News ^ | 2/09/14 | Sophia Rosenbaum, Barry Paddock
    For the second day in a row, chunks of ice fell from the Freedom Tower — but this time streets remained open and Port Authority officials didn’t close the nearby PATH station. Instead, pedestrians had to fend for themselves, scurrying for cover about 11 a.m. Saturday in the shadow of the nation’s tallest building. “We just saw ice falling down the building,” said startled Austrian tourist Katharina Amann, 24, who is visiting the city with her family. “It was scary. Then I heard it shatter.” Ice also fell from 7 World Trade Center, which is 52 stories tall, some chunks...
  • America's failed "trade" experiment with China: More than $300 billion imbalance in 2013.

    02/06/2014 6:49:10 AM PST · by Cringing Negativism Network · 27 replies
    US Census Bureau ^ | 2/6/2014 | (website link)
    Today is the day, that our trade figures were released for 2013. Once again, America has failed to gain any appreciable trade volume, vs China. Go into any American store, look on any shelf, and all the stuff is "Made in China". The big problem is: in China, all the things are "Made in China" as well.
  • Transatlantic Trade and Investment Partnership:The biggest trade deal in the world.

    01/30/2014 7:25:43 AM PST · by managusta · 6 replies
    You may never heard of it but "The Transatlantic Trade and Investment Partnership (TTIP) is a trade agreement that is presently being secretly negotiated between the European Union and the United States. It aims at removing trade barriers in a wide range of economic sectors to make it easier to buy and sell goods and services between the EU and the US. On top of cutting tariffs across all sectors, the EU and the US want to tackle barriers behind the customs border – such as differences in technical regulations, standards and approval procedures. These often cost unnecessary time and...
  • Bill key to Obama trade push faces Dem opposition

    01/09/2014 8:29:36 PM PST · by Olog-hai · 4 replies
    Associated Press ^ | Jan 9, 2014 8:23 PM EST | Matthew Pennington
    Legislation key to President Barack Obama’s agenda to boost exports to the fast-growing economies of the Asia-Pacific is being welcomed by business but faces stiff opposition from Obama’s fellow Democrats. A bill to grant the president “fast track” authority for negotiating trade deals was introduced Thursday, co-sponsored by a senior Democrat and two leading Republicans. Fast track, which was last approved in 2002 and expired in 2007, assures that the administration can negotiate trade deals that Congress can accept or reject but cannot change.The administration will be counting on strong support from Republicans, who traditionally are more supportive of free...
  • China to Overtake U.S. As World's Top Trader

    01/10/2014 5:35:07 AM PST · by lbryce · 15 replies
    Yahoo Finance ^ | January 10, 3024 | Charles Riley
    China is poised to become the world's top trading nation, a position long held by the United States. China reported Friday that its total trade for 2013 reached $4.2 trillion, a sharp increase over the previous year. It is the first time the world's most populous country has cleared the $4 trillion barrier, a feat accomplished despite lackluster numbers for the final month of the year. The U.S. has not yet reported trade numbers for December, but China is virtually assured the top ranking. In the first 11 months of the year, U.S. imports and exports totaled $3.5 trillion, according...
  • USTR Report: Chinese Government Creates Friction for Global Trade

    12/29/2013 10:19:55 PM PST · by ckilmer
    wallstcheatsheet ^ | November 15, 2013 | Dan Ritter
      Home / Breaking News / USTR Report: Chinese Government Creates Friction for Global Trade Dan Ritter Google+ Twitter | More Articles December 29, 2013 Source: China’s economic development depends as much on international diplomacy as it does on domestic investment and political reform. According to state-run news agency Xinhua, Chinese Foreign Minister Wang Yi said earlier this month that one of China’s top economic priorities for 2014 will be economic diplomacy, conducted with the goal of capitalizing on opportunities to grow both the domestic and global economy.It’s hard to understate the increasingly important role that China plays in...
  • US deal will trade off 'Jewish' Israel for 1967 lines -- report

    12/29/2013 5:12:08 PM PST · by Nachum · 36 replies
    Times of Israel ^ | 12/29/13 | Elhanan Miller
    US Secretary of State John Kerry will offer Israeli and Palestinian negotiators a political trade-off: Israeli recognition of the 1967 lines as a basis for the future Palestinian state, in return for Palestinian recognition of Israel as the state of the Jewish people, Palestinian sources told the Saudi daily Al-Watan on Sunday. According to the sources, the mutual recognition will constitute the core of a framework agreement to be signed by the end of January, and negotiated in greater detail during the following months. "The coming weeks will be difficult for the Palestinian and Israeli sides, since they will need...
  • Economists Toast 20 Years Of NAFTA; Critics Sit Out The Party

    12/08/2013 1:14:48 PM PST · by Theoria · 66 replies
    NPR ^ | 08 Dec 2013 | Marilyn Geewax
    Twenty years ago, millions of Americans were cocking their ears — waiting to hear a "giant sucking sound."They feared Mexico would begin vacuuming up U.S. manufacturing jobs as soon as President Clinton signed the North American Free Trade Agreement, or NAFTA, on Dec. 8, 1993. The "sucking sound" famously had been forecast in 1992 by Ross Perot, the businessman turned independent presidential candidate.Clinton won the election, and began pushing for NAFTA's passage. He promised the sprawling trade agreement would become a wealth generator as it pulled together the economies of Canada, the United States and Mexico.Who turned out to be...
  • The Trans Pacific Partnership: Another disaster from a proven liar

    12/03/2013 3:35:34 AM PST · by 2ndDivisionVet · 6 replies
    The Washington Times ^ | November 11, 2013 | Judson Phillips
    One thing we can say about Barack Obama is that he is a proven liar. He lied when he told Americans we could keep our health insurance if we liked it. Now he wants us to trust him on something else. For the last several years, the Obama Administration has been negotiating something called the Trans Pacific Partnership. The Trans Pacific Partnership is a free trade agreement on steroids. In 1992, then-Presidential candidate Ross Perot coined the expression, “Giant sucking sound” to describe the exodus of jobs from America into Mexico if the North American Free Trade Agreement was passed....
  • The New York Times endorsed a (Hussein) secretive trade agreement that the public can’t read

    11/13/2013 4:16:24 PM PST · by Libloather · 12 replies
    Washington Post ^ | 11/08/13 | Andrea Peterson
    The Obama administration is secretly negotiating a treaty that could have significant effects on domestic law. Officially, it's a "free trade" treaty among Pacific rim countries, but a section of the draft agreement leaked in 2011 suggested that it will require signers, including the United States, to make significant changes to copyright law and enforcement measures. **SNIP** Now, as Maira Sutton at the Electronic Frontier Foundation (EFF) notes, the New York Times editorial board has endorsed the TPP. While the editorial acknowledges that some are "worried about provisions on intellectual property that could restrict the availability of generic medicines and...
  • China drives uptick in U.S. trade deficit

    10/10/2013 6:41:07 AM PDT · by Cringing Negativism Network · 16 replies
    Politico ^ | 9/4/13 10:01 AM EDT | ERIC BRADNER
    "The new data show that consumer demand surged in the United States just as it lagged in the European Union and China. The value of goods and services imported to the U.S. increased to $228.6 billion, while exports dipped to $189.4 billion." Read more:
  • 'Made in America' revival gathers pace

    09/24/2013 7:23:30 AM PDT · by Cringing Negativism Network · 40 replies
    CNN Money ^ | September 24 2013 | Virginia Harrison
  • Despite Union Leader Complaints, Michigan Exports Exploding

    09/20/2013 7:52:27 AM PDT · by MichCapCon · 8 replies
    CapCon ^ | 9/18/2013 | Tom Gantert
    In a recent op-ed in The Detroit News, Teamsters President James Hoffa criticized trade deals in the United States saying, “It is time America’s major import wasn’t cheap foreign goods and its major export wasn’t good U.S. jobs.” Hoffa used the South American country of Colombia to make his point, saying that exports to the U.S. from Colombia fell 4.5 percent between May 2012 and March 2013. But if Hoffa is implying that the U.S., and Michigan, are being hurt by trade deals, he won’t find much support from the Department of Commerce. For example, exports from the U.S. to...
  • Are We Too Late to Stop U.N. Agenda 21?

    09/20/2013 5:54:52 AM PDT · by Sheapdog · 9 replies
    Canada Free Press ^ | September 20, 2013 | Dr. Ileana Johnson Paugh
    The global cabal of U.N. Agenda 21 is behind global warming, regionalism, zoning, land and water use control, wealth redistribution, weakening and eventual replacement of the dollar as the world’s reserve currency, global warming, cap and trade, Smart Grid, Smart Meters, carbon taxes, high gasoline prices, global citizens, IB World Schools, Common Core nationalized education standards, biofuels, Marxist advancement across the globe, food control, water access control via the Law of the Sea Treaty (LOST), gun control, health control, the Arab Spring/Winter, unchecked illegal immigration, and they are unstoppable. They’ve had 100 years of preparation ahead of us. Their effort...
  • Make Trade, Not War

    09/18/2013 3:35:32 AM PDT · by Kaslin · 31 replies ^ | September 18, 2013 | John Stossel
    What's up with so many Democrats wanting missile strikes on Syria, while Republicans balk? I'm told Republicans are the war party. Is this just hypocrisy? Politicians change their position on military intervention when their own party controls the White House? Historian Thaddeus Russell says it's not. He says it's always been "progressive" Democrats who led America into war: Woodrow Wilson in World War I, FDR in World War II, Truman in the Korean War, Kennedy and Johnson in Vietnam and Bill Clinton in Somalia and Kosovo. Russell says the progressives like "nation-building" because it fits their view that government can...
  • Is the China Bubble about to Burst? [link title: "Chinese Economic Collapse"]

    09/13/2013 8:40:24 AM PDT · by expat_panama · 158 replies
    Wealth Daily ^ | September 13th, 2013 | Research Report
    It seemed like their growth was unstoppable... With a billion-person strong workforce and a vast quantity of resources at their bidding, China seems like an economic powerhouse... One that could overtake even the U.S. economy. It was an unseemly miracle — from a poor dictatorship to one of the fastest-growing capitalist systems in the world. But all is not well in the Middle Kingdom... Corruption. A massive housing bubble. A barrage of bad loans. Things are not looking good for China's economic future. Are we witnessing the end of a Chinese era, or is this just a bump in the...
  • Weekly Investment & Finance Thread (Sept.-9-13 edition)

    09/09/2013 4:00:54 AM PDT · by expat_panama · 61 replies
    Daily investment & finance thread ^ | Sept.. 9, 2013 | Freeper Investors
    This is the Weekly Investment & Finance Thread (Sept.-9-13 edition)----  Trying to focus on the markets for today and each day and the economic news  This is where you can exchange some investment opinions and advice If you see another FR economic thread you like and want to link to it here, please doPost your favorite economic site links. Your favorite economic blogs and precious metals blogs and sitesPing list -- on or off let me know here or via freep-mail. If I missed you then Freep-mail me I might ping you to other interesting economic threads a few times a...
  • Weekly Investment & Finance Thread (Sept.-3-6 edition)

    09/03/2013 3:12:31 AM PDT · by expat_panama · 35 replies
    Freeper Investors ^ | Sept.. 3, 2013 | Freeper Investors
    This is the Weekly Investment & Finance Thread (Sept.-3-6 edition)----  Trying to focus on the markets for today and each day and the economic news This is where you can exchange some investment opinions and advice If you see another FR economic thread you like and want to link to it here, please doPost your favorite economic site links. Your favorite economic blogs and precious metals blogs and sitesPing list -- on or off let me know here or via freep-mail. If I missed you then Freep-mail me I might ping you to other interesting economic threads a few times a week....
  • Modern Day Slave Trade By Arab Muslims

    09/01/2013 8:26:01 PM PDT · by Nachum · 21 replies
    YouTube ^ | 1/18/13 | TheDynamiteGeneral
    "I was under the impression that the African slave trade was the sole responsibility of the Christian Europeans, the White race, that is until I started exploring the subject in great depth..."
  • A revolution in trade to Europe is beginning on the roof of Siberia

    08/14/2013 5:57:29 PM PDT · by Navy Patriot · 2 replies
    The Siberian Times ^ | August 11, 2013 | The Siberian Times reporter
    Eye-catching numbers have emerged on the expected trade boom from the Arctic route to Europe for Chinese business.Cosco Shipping - part of China's state-owned shipping giant Cosco Group - announced its maiden voyage with a multi-purpose vessel last week. 'The ship left Dalian port in Northeast China's Liaoning province and is scheduled to take 33 days to reach Europe,' reported China Daily. 'It is the first time a Chinese merchant ship has travelled to Europe via the Arctic Northeast Passage. The total deadweight tonnage of the multipurpose vessel is 19,461 tons. The ship is expected to arrive in the Bering...
  • Fed, Farm And Trade Policies Inflating Our Grocery Bills

    08/13/2013 5:30:11 AM PDT · by SeekAndFind
    IBD ^ | 08/13/2013 | SCOTT LINCICOME
    Monthly U.S. headlines trumpeting the death of inflation hide a painful truth for American families: rapidly rising food prices. News reports rarely mention this pain because economists' preferred inflation metric, so-called "core CPI," omits both food and energy due to concerns about their volatility. Although this omission might make sense from a purely economic perspective, it does a disservice to voters because several federal government policies that enrich a few special interests have conspired to keep American grocery bills high and rising. There can be little doubt that food prices have spiked in recent years, especially in relation to other...
  • 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...
  • Lies About Trade Agreements

    07/25/2013 3:24:46 AM PDT · by IbJensen · 41 replies
    GOP USA ^ | 7/24/2013 | Phyliss Schlafly
    When will Republicans wake up to the way U.S. jobs are betrayed by Barack Obama and the corporate interests that hide under the moniker "free trade"? It's an embarrassment that Republican powers-that-be have joined with the Obama Democrats to push the new Trans Pacific Partnership (TPP) agreement. We should have recognized free trade as bad news when Obama hammered on it in his State of the Union message. He probably looks upon it as another strategy to redistribute the wealth of our country, which is a major goal of his administration. In 2012 when Congress was passing the Korea-U.S. Trade...
  • The world economy is in the hands of Janet Yellen? (BERNANKE FIRED!)

    07/12/2013 3:12:35 AM PDT · by expat_panama · 17 replies
    BG D aily News ^ | June 20, 2013 | Bg Daily News
    In fact, Barack Obama "fired" the chairman of the Federal Reserve, Ben Bernanke, as he thanked him first for the great job all these years."This was really impressive. I nearly fell off my chair, when I heard the president's comment", said the former commander of the Federal Reserve, Larry Meyer for CNBC.However, the question is who will take the reins of the world economy in such a critical period?[snip]
  • Chinese Trade Numbers Come In Massively Below Forecasts

    06/08/2013 6:36:27 AM PDT · by blam · 16 replies
    Business Insider ^ | 6-8-203 | Fran Wang, Agence France Presse
    Chinese Trade Numbers Come In Massively Below Forecasts Fran Wang, Agence France Presse June 8, 2013, 6:07 AM Reuters China on Saturday reported a sharp slowdown in exports in May compared to the previous month while imports unexpectedly dropped, as the world's second largest economy grapples with slowing growth and sluggish overseas demand. Overseas shipments rose just one percent to $182.8 billion last month, far lower than 14.7 percent recorded in April, customs authorities said in a statement. It also missed a medium forecast of 5.6 percent expansion in a Dow Jones Newswires' poll of economists. Imports dropped 0.3 percent...
  • Nicaragua gives Chinese firm contract to build alternative to Panama Canal

    06/07/2013 10:14:17 AM PDT · by BBell · 49 replies ^ | 6 June 2013 | Jonathan Watts
    Nicaragua has awarded a Chinese company a 100-year concession to build an alternative to the Panama Canal, in a step that looks set to have profound geopolitical ramifications. The president of the country's national assembly, Rene Nuñez, announced the $40bn (£26bn) project, which will reinforce Beijing's growing influence on global trade and weaken US dominance over the key shipping route between the Pacific and Atlantic oceans. The name of the company and other details have yet to be released, but the opposition congressman Luis Callejas said the government planned to grant a 100-year lease to the Chinese operator. The national...
  • California to Industry: Get Lost

    06/06/2013 6:38:46 AM PDT · by sfwarrior · 12 replies
    American Thinker ^ | June 6th, 2013 | Adam Sparks
    IF you were the leaders of the State of California and you were hemorrhaging businesses, with entire industries leaving as fast as they could pack and taking jobs with them, what would you do? Assist with job training? Offer tax credits? Ease regulations? Wrong. The State of California didn't do that. Instead, they looked at the few still struggling industrial businesses dumb enough to want to still operate in this hostile environment and asked why? Read more: Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook
  • Obama’s Super Secret Treaty Which Will Push The Deindustrialization Of America Into Overdrive

    06/04/2013 7:57:18 PM PDT · by Yollopoliuhqui · 18 replies
    The Economic Collapse Blog ^ | June 3rd, 2013 | Michael View
    Barack Obama With His Hand On The Resolute DeskDid you know that Barack Obama has been secretly negotiating the most important trade agreement since the formation of the World Trade Organization? Did you know that this agreement will impose very strict Internet copyright rules, ban all "Buy American" laws, give Wall Street banks much more freedom to trade risky derivatives and force even more domestic manufacturing offshore? If you have not heard about this treaty, don't feel bad. Obama has refused to even give Congress a copy of the draft agreement and he has banned members of Congress from attending...
  • VATs used to Accomplish Same Goals as Currency Devaluation

    05/09/2013 1:33:35 PM PDT · by DannyTN · 102 replies ^ | 04/29/2013 | Michael Stumo
    <p>The VAT is used as a trade strategy to accomplish the same benefits as currency devaluation. The VAT strategy is called “fiscal devaluation” and I’ll explain it at the bottom. It took me three years to understand the power of the VAT in trade strategy, so I understand why it takes others a while to think through it. But the price differential result (as between domestic and imported products) is substantial. And we need it to neutralize what other countries have done.</p>
  • The Ignorance of the Professors: the Case of Ron Boudreaux

    05/09/2013 12:25:59 PM PDT · by DannyTN · 3 replies ^ | 01/03/2013 | Ian Fisher
    Like most academics, professors of economics are not generally stupid people, IQ-wise. But they do have a remarkable ability to lose sight of basic realities. I’ve seen this over and over again. I just had an extended e-mail exchange with one Ron Boudreaux, a professor of economics at George Mason University, about the trade deficit. Now I’m not going to offer any comment on it, and will just let the reader judge for himself who’s right in the back-and-forth below. (Feel free to post a comment or e-mail me if you think I was mistaken.) ************* Dear Mr. Fletcher: I...
  • Milton Friedman's Smoot-Hawley Lie

    05/09/2013 10:00:37 AM PDT · by DannyTN · 126 replies ^ | Mar 20, 2010 | Paul Streitz
    The Smoot-Hawley tariff passed in 1931 is the silver bullet of Free Trade advocates. All other arguments do not matter for them because they say the Smoot-Hawley tariffs either were part of the cause of the Great Depression or were responsible for continuing the depression by reducing international trade. This reasoning does not hold up to close inspection. Smoot-Hawley did not cause the Great Depression, nor did it extend the Depression. ... In general, the statistical arguments made by current Free Traders are deceptions. They generally say something like, "the United States economy grew after NAFTA." That may be true,...
  • When economic patriotism died

    05/03/2013 12:00:05 PM PDT · by Sheapdog · 141 replies
    World Net Daily ^ | 5/02/2013 | Buchanan, Patrick
    When economic patriotism died Pat Buchanan agrees with the pope about ' the dark side of globalism' “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...
  • 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...
  • Study: 45 percent of Bitcoin exchanges end up closing

    04/27/2013 10:39:14 PM PDT · by Jyotishi · 13 replies
    Wired, UK ^ | April 26, 2013 | Ian Steadman
    A study of the Bitcoin exchange industry has found that 45 percent of exchanges fail, taking their users' money with them. Those that survive are the ones that handle the most traffic -- but they are also the exchanges that suffer the greatest number of cyber attacks. Computer scientists Tyler Moore (from the Southern Methodist University, Dallas) and Nicolas Christin (of Carnegie Mellon University) found 40 exchanges on the web which offered a service of changing bitcoins into other fiat currencies or back again. Of those 40, 18 have gone out of business -- 13 closing without warning, and five...
  • The South China Sea is an important world energy trade route

    04/04/2013 6:11:02 AM PDT · by thackney · 3 replies
    Energy Information Administration ^ | APRIL 4, 2013 | Energy Information Administration
    Stretching from Singapore and the Strait of Malacca chokepoint in the southwest to the Strait of Taiwan in the northeast, the South China Sea is one of the most important energy trade routes in the world. Almost a third of global crude oil and over half of global liquefied natural gas (LNG) passes through the South China Sea each year. The Strait of Malacca is the shortest sea route between African and Persian Gulf suppliers and Asian consumers. The strait is a critical transit chokepoint and has become increasingly important over the last two decades. In 1993, about 7 million...
  • Sorry, Mates, Strictly Business: Australia Wants To Cut Out US Dollar In Trade With China

    04/01/2013 9:53:45 AM PDT · by autumnraine · 21 replies
    International Business Times ^ | 3/29/2013 | Ryan Villarreal
    ustralia is seeking to bypass trading in U.S. dollars with China in an effort to avoid the commercial uncertainties that come with the recent fluctuations in the greenback. For example, just a half a year ago, the dollar traded at about $1.20 to the euro; by February, it had weakened to $1.34 per euro and now it is going for $1.27. Eliminating the dollar in trade will be the focus of Australian Prime Minister Julia Gillard’s trip to Beijing next week. Trade with China, Australia’s primary trading partner, totaled $120 billion in the last fiscal year. China buys nearly one-third...
  • COLUMN-U.S.-China manufacturing cost gap is closing

    03/08/2013 2:38:13 PM PST · by ckilmer · 18 replies
    Reuters ^ | Fri Mar 8, 2013 11:36am EST | John Wasik
    (Reuters) - A long-term U.S. manufacturing rebound is under way, and it will likely endure because the United States is becoming more competitive with China and other emerging economies. According to a recent report by the Boston Consulting Group titled "Made in America, Again," the cost advantage China has over the United States is shrinking fast. "Within five years, rising Chinese wages, higher U.S. productivity, a weaker dollar, and other factors will virtually close the cost gap between the U.S. and China for many goods consumed in North America," the report said.
  • US, Japan agree to negotiation on free trade agreement

    02/23/2013 7:55:10 AM PST · by SeminoleCounty
    Gulf News (via Reuters) ^ | February 23, 2013 | Staff
    Washington: The United States and Japan on Friday agreed on language aimed at giving Japanese Prime Minister Shinzo Abe political cover to bring the world’s third-largest economy into negotiations on a US-led free trade agreement in the Asia Pacific region. In a carefully worded statement following Abe’s meeting with President Barack Obama, the two countries reaffirmed that “all goods would subject to negotiation” if Japan joins the talks with the United States and 10 other countries. At the same time, the statement leaves open a possible outcome to the Trans-Pacific Partnership, or TPP, talks where the Japan could still protect...
  • China trade now bigger than US

    02/10/2013 2:28:32 PM PST · by lowbridge · 47 replies ^ | february 10, 2013 | Garry White
    China has leapfrogged the US to become the world’s biggest trading nation, bringing an end to the US’s post-war dominance of global commerce. The total value of US exports and imports in 2012 was $3.82 trillion (£2.4 trillion), the US Commerce Department has revealed. China’s customs administration has already announced that the country’s total trade last year was worth $3.87 trillion. “It is remarkable that an economy that is only a fraction of the size of the US economy has a larger trading volume,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, told Bloomberg....
  • Free Trade Cheats American

    01/23/2013 7:24:00 AM PST · by Kaslin · 60 replies ^ | January 23, 2013 | Phyllis Schlafly
    The re-election of Barack Obama hasn't done anything to make more jobs available to Americans, and there is no indication that it will. America now has 23 million people who want a full-time job but can't find one. Obama doesn't think American citizens or businessmen create jobs. His Jobs Czar, Jeffrey Immelt, recently said on a television interview referring to China, where he has outsourced General Electric's light bulb plants, "state-run Communism may not be your cup of tea, but their government works." In his first presidential debate last year, Obama claimed that passage of free trade agreements with...
  • With almonds' rising revenues, land values soar

    01/13/2013 12:00:50 PM PST · by thecodont · 26 replies
    Associated Press via San Francisco Chronicle / ^ | Updated 12:42 pm, Saturday, January 12, 2013 | By GOSIA WOZNIACKA, Associated Press
    FRESNO, Calif. (AP) — Bill Enns, a central California real estate agent specializing in farmland, fields dozens of calls every week from potential buyers. Many want almond, pistachio or walnut orchards — or any land suitable for growing nut trees. [...] California's almond industry, which grows about 80 percent of the global almond supply and 100 percent of the domestic supply, saw the most dramatic growth — powered by strong demand from new money-spending middle classes in India and China. The growth has prompted a rush for almond-growing land and pushed almond land values through the roof. Read more:
  • The siege of Baghdad and China's rise

    01/08/2013 10:18:02 AM PST · by Theoria · 18 replies
    Asia Times Online ^ | 07 Jan 2013 | Spengler
    American leaders bring to mind the last Abbasid Caliph, who made no preparations for the approach of the Mongols in 1258. What, asked al-Musta'sim Billah, could Mongol arrows do to the walls of Baghdad? When the Mongol commander Hulagu Khan arrived on January 29, though, he had with him 1,000 Chinese bombardiers, as well as Persian, Turkish and Georgian auxiliaries. Historians disagree as to whether the Mongols used cannon or counterweighted catapults, but in any case the bombardment breached the city's walls within three weeks, and they proceeded to slaughter between 200,000 and a million of its inhabitants. There are...
  • The Mississippi River's Water Levels Are Dropping, And Could Shut Down Trade Next Week

    12/28/2012 8:19:44 AM PST · by blam · 28 replies
    TBI - AP ^ | 12-28-2012 | Jim Salter
    The Mississippi River's Water Levels Are Dropping, And Could Shut Down Trade Next Week Jim Salter, Associated PressDecember 28, 2012Wikimedia Commons ST. LOUIS (AP) — The Mississippi River level is dropping again and barge industry trade groups warned Thursday that river commerce could essentially come to a halt as early as next week in an area south of St. Louis. Mike Petersen of the Army Corps of Engineers said ice on the northern Mississippi River is reducing the flow more than expected at the middle part of the river that is already at a low-water point unseen in decades, the...
  • The U.S. Balance of Trade with China

    12/20/2012 10:05:51 AM PST · by Soul of the South · 10 replies
    The U.S. - China Economic and Security Review Commission ^ | 12-13-2012 | U.S. - China Economic and Security Review Commission Staff
    The U.S. Balance of Trade with China The U.S. Census Bureau announced this week that the cumulative trade deficit with China through October 2012 amounted to $262 billion, $16 billion higher than at the same point last year. Last year's trade deficit with China was a record imbalance and was the largest bilateral U.S. trade deficit in history with any country. At this pace, the bilateral trade deficit with China this year is expected to be the highest on record. Although cumulative annual U.S. exports to China were up 6.4 percent over last year, this was offset by imports, which...