Trade readings

• The real reasons for the Wests Protectionism

  The shift towards protectionism was not solely driven by economic reasoning such as deindustrialization but due to concerns over the social and political state of the West as a result of China's growth.
• The China Shock demystified

  The PNTR and China's admittance into the WTO did contribute negatively to US economy but majorly exaggerated. There were actually more overall benefits (cheaper goods) and pursuing protectionist regime causes more harm than good
• The impact of Brexit on the UK economy reviewing the evidence

  Trade declined in line with expectations although services remain stable. Immigration the new trade barriers negatively affected labour supply but by less than expected due to influx of skilled workers. Investment reduced hurting growth.
• What's impacting American workers? people I (mostly) admire

  There has been increase in income inequality in US and while tech and AI transform the labour market it is important to keep human expertise valuable. Policies should develop strategies that enhance job quality and worker-well being.
• Trade should play its part in saving the planet

  Increasing open trade and collaboration is what drives green technology as it needs ability to transfer tech but protectionist regimes and trade disputes are hindering it.
• The errors of conservatives obscure the case for trade.

  Criticism of NAFTA is largely displaced. it has brought economic benefits that outweigh any negatives. The political left need to stop using it as a scapegoat and focus on policies that reform labour.
• NAFTA and other trade deals have not gutted American manufacturing period.

  NAFTA, china joining the WTO are not the primary drivers behind job losses in the US. Technological advancements was alongside other reasons such as lower transportation costs for foreign firms.
• The EU is finally rebooting the enlargement machine.

  The Ukraine war has made EU reconsider adding countries. But it requires the EU to go under big reform to be successful as not everyone is happy about the idea.
• The WTO and The Worlds Poor

  Claims the new WTO trade agreement is misleading and could make situation worse as cutting subsidies will raise price for consumers. Other policies could be better like exempting poor from paying the patent
• Trade and Labour market Lessons from China's rise.

  Rapid growth with China has had uneven affects around the world. The costs are disproportionately bared to regions homing low-skilled workers as they usually directly compete with China's low-cost manufacturing and the labour mobility they thought was there was not in the US.
• The economic policy at the heart of Europe is creaking

  EU single market is losing effectiveness due to the shift in the market towards services. Countries are uninterested and the occurrence of regulatory fragmentation preventing trade makes it increasingly hard for economic integration
• Want to rev up the economy? don't worry about the trade deficit.

  Trumps focus is reducing the trade deficit as he thinks this is harming the country. But its actually a sign of a strong economy (strong dollar exports more expensive and more investment). Tariffs may backfire and policies need to focus on fostering growth
• Gains from Trade: evidence from 19th C Japan.

  Japan opening up to global trade led to large economic gains consistent with the theory of comparative advantage. The access to trade allowed for greater productivity and opportunities for tech transfer which drove industrialization.
• The Boomerang effect


  Labour costs are now rising in emerging countries. Firms are relocating production back to developed countries not only due to wages. Also due to proximity to R&D facilities, protection of intellectual property and if production is close they can quickly react to market changes.
• Not boxing clever: a subsidies scrap between Boeing and Airbus comes to an end.

  16 year long battle where WTO provided framework for retalliatory tariffs did not give victory to one party. But trade dispute may be resolved as each firm is more focused on regaining strength after COVID (both lost more than half their market share)
• The WTO is on life support - but the world still needs it.

  WTO struggling to effectively manage modern trade disputes it cannot resolve conflicts between economic powers. but WTO still needed to offer mediator services. Needs lots of reform to be able to stay relevant in today's world
• WTO claims protectionism will widen the wealth gap.

  Protectionist policies threaten to widen the wealth gap. Restricting trade can impede the growth of developing countries. Open trade will allow economic development to thrive.
• EU handouts have long been wasteful, now they must be fixed.

  EU funding policies are flawed and never achieves its goal of reducing income disparities e.g. farmers and landowners
• The biggest losers from Trumponomics

  Proposed protectionist policies will disrupt international trade which could adversely affect countries heavily involved in the US. Tariffs could see major economic downturn in these regions
• Ten years after the east Asian crisis

  East Asia after the crisis has not only recovered but restructured leading to high levels of innovation and growth. Restructuring was shifting towards open trade and specialization and advancements driven by higher skilled workforce. Positioning the region for more stability and protection against future shocks.