Robert Reich has an interesting post today, “Why China Announces Military Buildup the Same Week Paulson Visits,” about how China is pursuing inter-related economic and military strategies in its drive to become a superpower. Although much of what Reich says is cogent, I disagree with one point, namely, that “America’s indebtedness to China gives the […]
Read more...For the record, I’m not a fan of the junior senator from New York. But she actually said some sensible things in a letter to Henry Paulson, which were mischaracterized by Harvard prof Greg Mankiw on his popular blog (and picked up by Angry Bear). It is remarkable how Clinton can serve as a lightening […]
Read more...A New York Times page one story, “A Cry to Limit Chinese Imports Rings at a Troubled Paper Mill,” describes how the Chinese have been gaining market share in the coated paper, by allegedly dumping (selling below cost). Several things make this case unusual: first, likelihood that the Commerce Department will impose duties on Chinese […]
Read more...Gods, what an awful word, and what an awful prospect. But as much as Blinder may be technically correct, my bet is that “offshoring,” or sending US jobs overseas, won’t go nearly as far as Blinder fears. The alarming news came in Blinder’s testimony to the Joint Economics Committee, recounted at TPM Cafe, which I […]
Read more...Here is an article, “Nafta Should Have Stopped Illegal Immigration, Right?,” by Louis Uchitelle in the New York Times, which discusses how Nafta, expected to reduce wage disparity between Mexico and the US, instead increased it. Even when you are talking about only two economies, liberalizing trade doesn’t always work out as expected. You will […]
Read more...A host of star-quality economists made a forceful case at Davos that governments in advanced economies need to reduce income inequalty; otherwise there will be a backlash against globalization. They also took a swipe at the dangers posed by hedge funds and excessive leverage. As cogent as their arguments are, they cross an ideological fault […]
Read more...Martin Wolf is the Financial Times’ chief economic writer and is always thoughtful and balanced. This column in today’s paper presents a more jaundiced view than the sunny forecasts from most US economists. In particular, he focuses on the role of liquidity in the current expansion: What is going to happen to the world economy […]
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