Over the last 20 years, the growing global economy has allowed manufacturers to enter new markets to serve an increasingly global customer base while also shortening supply chains and reducing cost structures.
As the U.S. trade deficit in manufactures rose in the third quarter while the Chinese surplus remained flat, it incurred an estimated trade-related loss of 150,000 American jobs, and heading toward more than 600,000 for the calendar year.
In the first quarter, the U.S. trade deficit in manufactures rose by 4%, or $7 billion, compared with 2015. This is a big improvement from the 14% increase for calendar 2015, but still resulted in a trade-related loss of 50,000 American manufacturing jobs.
The international financial system faces a “dollar twilight dilemma” that will result in a transition from the dollarized financial system of the past seven decades to some form of multi–key currency relationship, which will include a s
Currency manipulation has risen to prominence because 78 senators have linked it to presidential authority to negotiate the Trans-Pacific Partnership (TPP) trade agreement. This linkage is nothing new, however, and an understanding of its historical context is important for charting the U.S.
Henry Kissinger’s recent, monumental World Order traces the course of nation state relationships as launched by the Treaty of Westphalia in 1648, stressing the need to maintain a peaceful, rules-based system of sovereign states.
Six years past the trough of the Great Recession, it feels to many as if the aura of crisis still haunts the global economic landscape. China’s slowdown, thankfully not a hard landing, has been more protracted than many expected.