Protectionism

NEW HAVEN, Conn. (Project Syndicate) — It didn’t have to end this way, but the die is now cast. After 48 years of painstaking progress, a major rupture of the U.S.-China relationship is at hand. This is a tragic outcome for both sides — and for the world.From an unnecessary…

Authors: Alex Rouse and Adam Triggs, ANUThe COVID-19 pandemic is a test for the multilateral system — one that could not have come at a worse time. The multilateral system is vital to keep supply chains open, allow medical supplies to flow freely, resist trade protectionism, deal with the international…

Africa has learned the hard way that international cooperation is key to saving lives and extinguishing epidemics. But the mixed global response to the current COVID-19 pandemic, with many countries closing their borders and restricting exports of vital goods, suggests that the world is forgetting this lesson. NAIROBI – Africa…

Facebook’s stock is soaring after a surprise investment in Indian telecom giant Reliance Jio. The American social media company has purchased a 9.99% stake in Reliance for $5.7 billion, making this its biggest investment ever. Could Facebook’s investment be the first move in a trend of American tech companies ditching…

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Tariffs, despite what their proponents seem to believe, harm domestic consumers and manufacturers. And this damage is especially bad in difficult economic times So a new policy that postpones tariff payments for select products might seem like a step in the right direction: “The Trump administration said it would allow some companies…

In a wide-ranging interview published on the New Statesman today, former prime minister Gordon Brown says that the coronavirus pandemic is "undoubtedly a crisis of globalisation" – but that the solution is more global cooperation, not less. Speaking to New Statesman political editor Stephen Bush, Brown says the crisis will "force us to rethink what…

View photos(Bloomberg) -- When it comes to bread, the conversation can become politically charged very quickly.From the French Revolution to the Arab Spring, price rises and food shortages have fueled conflict, toppled leaders and overthrown regimes.In the throes of a once-in-a-century pandemic, the headlines in many wealthier nations scream of empty supermarket shelves,…

Arvind Panagariya was the vice-chairman of NITI Aayog from January 2015 to August 2017, the crucial initial years in which the Narendra Modi government’s economic policy agenda took shape. He was hand-picked by the Prime Minister for building a new institution to replace the Nehruvian vestige, the Planning Commission.When an…

by Don Boudreaux on April 16, 2020 in Complexity & Emergence, Country Problems, Current Affairs, Growth, History, Myths and Fallacies, Seen and Unseen, The Economy, The Future, Trade Here’s a letter to my friend T. Alan Russell: Alan: Thanks for your e-mail. It’s always good to hear from you. You’re…