Global Economy, Money & Finance, GDP, Government Finance
The Eurozone sovereign debt crisis is far from over. It will take years, not months, for excessively high government debt-to-GDP ratios to stabilize, much less begin to decline. Eurozone political leaders recently agreed upon a second multilateral assistance package that is designed to give the Greek government a respite when the first tranche is paid in. Subsequent disbursements, however, are subject to reviews by the IMF, which will check on progress in many areas; poor compliance by the Greek government on tax reform or privatization, for example, could derail the program.
The relationship between the two economic juggernauts cannot exactly be characterized as free trade nirvana, and there is a growing sentiment in the United States that China has not fully lived up to the commitments it made when joining the WTO. This is fueled in no small part by concern over the massive trade surplus China has built up with the United States, its largest trading partner. By deliberately undervaluing its currency, critics charge, China has propped up its export-dependent growth model.
In the aftermath of the September 11, 2001 terrorist attacks, one of the victims of increasing security concerns in the United States was Canada-U.S. trade. "Security trumps trade" became the new U.S. policy principle as myriad additional verifications of freight and individuals crossing the Canada-U.S. border were put in place to protect against potential terrorist threats.
In a recent survey of 60 executives from several MAPI councils, 40% of respondents said that counterfeit versions of their products are a significant problem. But as one R&D executive told us, "It's hard to put a value on the true cost of counterfeiting, since the degree is only what you are aware of and what you find."
Corporate Affairs, Corporate Social Responsibility, Sustainability, Sustainable Business Practices, Government Relations, Regulatory Affairs, Regulatory Monitoring, Growth & Innovation, Research & Development, Research, Innovation
The facts are in. The statistics are clear. Old manufacturing processes and procedures are out. New less-water-wasting, lower-energy-using, conflict-and-child-labor-free manufacturing is in. What better time than now to proclaim 2012 as the year of the sustainable manufacturer?
Global Economy, Competitiveness, Foreign Trade, Imports & Exports
Intense discussion of the eurozone financial crisis has centered on fiscal accounts and the banking sector. Little attention has been paid to the impact on trade beyond the obvious fact that if there is slower eurozone growth, import growth will also be down. The adverse trade impact of the eurozone on third countries, however, and on U.S. exports of manufactures in particular, is significant and growing, and faces uncertain prospects ahead.