Dollar & Sense

By The Brookings Institution

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Dollar and Sense is a podcast about all things trade. From local ports and markets to international trade and diplomacy, Brookings Institution Senior Fellow David Dollar and guests explain how our global trading system is built and its effect on our everyday lives.

Episode Date
Moving from contention to cooperation in the trans-Atlantic relationship
25:58

President-elect Biden has made it clear that restoring America’s standing with allies will be a priority for his administration. In this episode, Constanze Stelzenmüller explains how the administration can begin to repair the important trans-Atlantic relationship. Stelzenmüller and David Dollar discuss recent tensions between the United States and Europe, a new investment deal between China and the European Union, and how the U.S. and EU can coordinate a common approach toward China.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

Jan 19, 2021
John R. Allen on restoring American leadership in 2021
33:36

From technology competition to the global rise of illiberalism, the United States will face numerous foreign policy challenges in the year ahead. John R. Allen, a retired U.S. Marine Corps four-star general and president of the Brookings Institution, joins David Dollar to discuss those challenges and how the new administration can work with America’s allies to meet them.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Jan 04, 2021
Market-based solutions to climate change have failed to deliver
24:22

Carbon pricing systems have been celebrated as instruments for combatting climate change, but how effective are they really? David Victor, co-chair of the Cross-Brookings Initiative on Energy and Climate, joins David Dollar to explain why market-based solutions for addressing climate change have fallen short of their promise. Victor examines how politics have hampered the effectiveness of market policies in key sectors, like transportation and aviation, and the political barriers the Biden administration will need to overcome in order to make real progress on climate change.

Dec 21, 2020
How can Biden fulfill his ‘Build Back Better’ agenda?
20:25

President-elect Biden will face a myriad of economic challenges when he is inaugurated next month, including a pandemic that continues to spread and unemployment numbers that remain high. Jason Furman joins David Dollar to discuss how this crisis differs from the economic issues Biden faced in 2009, what should be prioritized in a short-term stimulus package and long-term reforms, and to what extent policymakers should worry about the federal debt when designing fiscal relief.

Dec 07, 2020
Reimagining the global economy for a post-COVID-19 world
44:33

When the COVID-19 pandemic sent the global economy into a deep recession, it exposed structural weaknesses in economic institutions and highlighted the need for reform. The challenges countries face today are daunting, but this moment should be recognized as an opportunity to build back more sustainable and inclusive economies. David Dollar is joined by three Brookings experts—Eswar Prasad, Marcela Escobari, and Zia Qureshi—to discuss their forward-looking policy proposals for a post-COVID-19 world.

Nov 23, 2020
What you should know about RCEP, Asia’s new trade agreement
25:37

This week, 15 countries in Asia and the Pacific joined the Regional Comprehensive Economic Partnership (RCEP), which is arguably the largest free trade agreement in history. To explain the origins of the agreement and how it will affect economic integration across Asia, David Dollar is joined by Peter Petri, a nonresident senior fellow at Brookings and professor of International Finance at the Brandeis International Business School.

Nov 19, 2020
Recalibrating America's role in the world under a Biden presidency
28:18

The 2020 election has revealed deep divisions in the United States and questions about what binds Americans together, but this is not the first time the country has experienced extreme polarization. Marvin Kalb, a senior fellow at Brookings and veteran journalist, joins David Dollar to explain how the current moment compares to other eras in American history. Dollar and Kalb also discuss how America’s role in the world has diminished under President Trump and whether a Biden administration can restore a U.S.-led international order.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Nov 09, 2020
How have Trump’s trade wars affected Rust Belt jobs?
27:29

President Trump’s critiques of U.S. trade policy are well known. He frequently lambasts ‘bad deals’ that favor America’s trading partners, and since taking office he has tried to use tariffs and new trade agreements to reduce the trade deficit and bring back manufacturing jobs. So, how have his policies affected American workers? What impact did President Trump’s tariffs have on important swing states like Ohio and Michigan? To answer these questions, David Dollar is joined by Sandra Polaski, a senior research scholar at Boston University’s Global Development Policy Center.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Oct 19, 2020
The global competition to govern digital trade
21:52

The exchange of data and digital services has become a new frontier for U.S.-China competition. To discuss the scale of digital services trade and the United States’ attempts to regulate it through trade agreements, David Dollar is joined by Joshua P. Meltzer, a senior fellow in the Global Economy and Development program at Brookings.

Meltzer is the author of a new paper for Brookings’s Global China series titled “China’s digital services trade and data governance: How should the United States respond?”

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Oct 12, 2020
Challenges for the next president and lessons from the first debate
32:30

The person elected president of the United States this November will have enormous influence over America’s response to the COVID-19 pandemic and associated recession. To discuss the differences in how President Donald Trump and former Vice President Joe Biden approach these issues, and lessons from the first presidential debate, David Dollar is joined by William A. Galston, a senior fellow in Governance Studies at Brookings and expert on campaigns and political theory.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Oct 01, 2020
Ngozi Okonjo-Iweala’s vision for the WTO
22:57

Ngozi Okonjo-Iweala has served as the finance minister of Nigeria, the managing director of the World Bank, and she is currently a candidate for the director-general position at the World Trade Organization. She joins David Dollar in this episode to discuss the role trade plays in global development and what she would prioritize as director-general.

Okonjo-Iweala is a nonresident distinguished fellow with the Africa Growth Initiative in the Global Economy and Development program at Brookings.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Sep 21, 2020
What’s the jobs outlook this Labor Day weekend?
22:34

The United States’ economy is beginning to recover from the COVID-19 recession, but there’s still a lot of progress yet to be made. Ahead of Labor Day, Stephanie Aaronson, the vice president and director of Economic Studies at Brookings, joins David Dollar to discuss what new employment data can tell us about how various sectors and demographic groups are experiencing the recovery differently.

Aaronson offers several policy reforms the U.S. could pursue to make work more family friendly. She also explains how recent changes at the Federal Reserve aim to achieve more inclusive growth.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Sep 05, 2020
Michael Spence on US-China competition and Industry 4.0
24:29

Michael Spence is a Nobel Prize-winning economist, leading expert in Industry 4.0, and someone with the opportunity to advise the Chinese government. He joins this episode of Dollar & Sense to discuss global technology competition and how emerging technologies will affect the future of economic development.  

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Aug 24, 2020
How is COVID-19 affecting US trade?
21:08

In this episode of Dollar & Sense, we flip the format and ask host David Dollar what new data can tell us about how the COVID-19 pandemic and the associated recession are affecting U.S. trade. Dollar shares insights on which industries have been hit hardest, how the recession will alter the U.S. trade deficit and the phase one trade deal with China, and the likelihood American companies begin reshoring their manufacturing and value chains.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Aug 10, 2020
A progressive case for free trade, immigration, and global capital
30:15

Globalization has earned a bad reputation in the United States for contributing to many of the challenges that American workers face. Rather than trying to reverse globalization with more protectionism, a position that’s gained traction in Washington, Reed College Professor Kimberly Clausing argues the U.S. should pursue policies that directly help workers, like wage insurance and tax reform. She joins David Dollar to make the case for openness and recommend complementary policies that would ensure the benefits of globalization are evenly shared.

Clausing is the author of “Open: The Progressive Case for Free Trade, Immigration, and Global Capital.”

Jul 27, 2020
Will China's debt bubble ever pop?
24:23

China’s buildup of debt to fuel economic growth has raised fears of an eventual collapse. So, what factors would precipitate such a collapse? And if one were to occur, how would it affect the rest of the world? How can Chinese policymakers guard against financial crisis? These are questions that Bloomberg Economics chief economist Tom Orlik takes up in his new book, China: The Bubble That Never Pops. Orlik joins David Dollar in this episode to discuss China’s economic growth model, the potential for reforms, and how the economy has responded to the trade war and COVID-19.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Jul 13, 2020
Africa’s roadmap for long-term economic growth
33:59

In his new book “Unlocking Africa’s Business Potential,” Landry Signé shows why Africa is ripe for business investment, citing fast-growing consumer and business spending, improved political stability and business environments, regional integration, and a burgeoning youth population eager to capitalize on the Fourth Industrial Revolution. Signé joins David Dollar to explain which sectors – like agriculture and manufacturing – offer particularly high potential returns, and he details the trends that should leave us all optimistic about the potential for Africa’s long-term economic growth.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Jun 29, 2020
Sen. Tom Carper on the trade issues confronting America
27:33

Senator Tom Carper (D-DE) joins David Dollar to discuss today’s pressing issues in global trade, including the security of Hong Kong, U.S.-China economic relationship, and implementation of the USMCA. Sen. Carper emphasizes the need for bipartisan solutions to meet these challenges and argues that Congress should reclaim its authority over shaping trade policy.

 

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Jun 15, 2020
The US-China tech rivalry shapes the economic relationship
25:52

China’s technological rise has led to anxiety in the United States over the possibility that China will dominate technologies of the future – but is there any merit to those concerns? Peter Petri, a nonresident senior fellow at Brookings and professor of International Finance at the Brandeis International Business School, joins David Dollar to provide an overview of technology competition between China and the United States.

Dollar and Petri are both contributors to a new book, "China 2049," focused on how China may reform as it seeks to become the world’s next economic superpower.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Jun 08, 2020
What’s at stake in China’s new national security legislation for Hong Kong?
20:27

China’s legislature, the National People’s Congress, recently voted to prepare national security legislation that will impose new restrictions on Hong Kong and may threaten the civil and political rights of the people there. To explain what led to this recent escalation and the implications for Hong Kong’s “special status” under U.S. law, David Dollar is joined by Richard Bush, a nonresident senior fellow in the Center for East Asia Policy Studies at Brookings.

 

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Jun 01, 2020
Don’t count on suing China for coronavirus compensation
24:26

Members of Congress and the Trump administration have been outspoken in their calls to hold China accountable for the human and economic costs of the coronavirus – likely through lawsuits filed in U.S. courts. But is suing China for compensation legally viable? How would it affect other American interests around the world and the U.S.-China economic relationship? Robert Williams, the executive director of the Paul Tsai China Center at Yale Law School and a nonresident senior fellow at Brookings, joins David Dollar to explain the legal obstacles any case would face and why these plans could backfire.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

May 18, 2020
How to ensure Africa has the financial resources to address COVID-19
27:52

As countries around the world fall into a recession due to the coronavirus, what effects will this economic downturn have on Africa? Brahima Sangafowa Coulibaly joins David Dollar to explain the economic strain from falling commodity prices, remittances, and tourism, and also the consequences of a recent G-20 decision to temporarily suspend debt service payments for Africa’s poorest countries. Coulibaly emphasizes that the G-20’s actions were an important first step, but more must be done to guarantee countries have the financial resources they need to fight the pandemic.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

May 04, 2020
What drove oil prices through the floor this week?
15:21

The coronavirus pandemic has sent crude oil prices plummeting, so much so that the price for West Texas Intermediate oil dropped below zero dollars earlier this week. In this special edition of the podcast, Samantha Gross joins David Dollar to explain the factors influencing recent changes in demand for oil and the long-term effects the coronavirus could have on U.S. oil production and the development of renewable energies.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Apr 22, 2020
The politics of Congress's COVID-19 response
26:03

In the face of economic and health challenges posed by COVID-19, Congress, an institution often hamstrung by partisanship, quickly passed a series of bills allocating trillions of dollars for economic stimulus and relief. In this episode, Sarah Binder joins David Dollar to discuss the politics behind passing that legislation and lingering uncertainties about its oversight and implementation. Binder and Dollar also cover lessons from the federal response to the 2008 recession that could be applied today and what we might expect to see in future legislation before Congress. 

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Apr 20, 2020
How will COVID-19 reshape America’s logistics workforce?
25:34

What effect will the COVID-19 pandemic have on the 9.2 million Americans working in logistics? Adie Tomer joins David Dollar to discuss the geographic distribution of logistics workers, their role in supply chains, the lack of protection for essential workers, and the necessity to create a more equitable social contract for America’s labor force.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

Apr 06, 2020
How will the Chinese economy rebound from COVID-19?
24:12

What effect has COVID-19 had on the Chinese economy and phase one of the U.S.-China deal? Could the United States or other nations draw lessons from China’s response to the virus? David Dollar is joined in this episode of Dollar & Sense by Dexter Roberts, former China Bureau Chief for Bloomberg Businessweek, to discuss these and other questions about the economic implications of COVID-19.

Roberts, author of the new book “The Myth of Chinese Capitalism,” explains the particular role migrant workers play in the Chinese economy and how that role may evolve as China recovers from this public health and economic crisis.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us at @policypodcasts on Twitter.

 

Mar 23, 2020
How might COVID-19 affect the global economy?
24:24

As COVID-19 continues to spread around the world, Warwick J. McKibbin joined us from his home in Australia to discuss how the novel coronavirus may disrupt the global economy. McKibbin, a nonresident senior fellow at Brookings, authored a recent report outlining seven different scenarios of how COVID-19 might evolve and the implications each scenario would have on macroeconomic outcomes and financial markets.

As part of their conversation, McKibbin and Dollar also discuss how this epidemic compares to SARS and why it will make fulfilling the recent trade deal between China and the United States difficult.

A transcript of their discussion is available here.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Mar 09, 2020
To help Syrian refugees, Turkey and the EU should open more trading opportunities
28:08

After nine years of political conflict in Syria, more than 5.5 million Syrians are now displaced as refugees in Jordan, Lebanon, and Turkey, with more than 3.6 million refugees in Turkey alone. It is unlikely that many of these refugees will be able to return home or resettle in Europe, Canada, or the United States. Attention has therefore turned to how to improve the ability for these refugees to integrate into Turkey’s economy and society.

In this episode of Dollar & Sense, Brookings Nonresident Senior Fellow Kemal Kirişci joins David Dollar to offer his proposal for supporting refugees by pairing trade concessions with economic inclusion. Specifically, Kirişci recommends extending European Union trade concessions in the agricultural sector to incentivize Turkey to better integrate refugees into its labor market.

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

 

Mar 02, 2020
How will the UK use financial sanctions in a post-Brexit world?
23:28

In this episode of Dollar & Sense, David Dollar is joined by Tom Keatinge to discuss the ramifications Brexit will have on the United Kingdom’s use of financial sanctions and regulation of financial crime.

Keatinge, the director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute (RUSI), explains how London currently cooperates with other major financial sectors around the world – like France, New York, and Hong Kong – in financial regulations and creating sanctions regimes. Keatinge also describes how that relationship may change during the Brexit transition period between now and December 31, 2020.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Feb 18, 2020
What do we know about the coronavirus and the global response?
17:35

David Dollar is joined in this special episode of Dollar & Sense by Amanda McClelland, the senior vice president of the Prevent Epidemics team at Resolve to Save Lives, to discuss the severity of the Wuhan coronavirus and the Chinese response to prevent the disease from spreading.

McClelland, who worked on the response to the Ebola crisis, describes the unique threat the coronavirus poses for Africa. Acknowledging that climate change and globalization will make future outbreaks of deadly disease more likely, she also offers recommendations for how the global community could work together to better prepare for and detect future epidemics. 

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Feb 10, 2020
What can shipping containers tell us about the US-China trade war?
23:12

In this episode of Dollar & Sense, Brookings Senior Fellow David Dollar is joined by Lori Ann LaRocco to discuss “phase one” of the trade agreement between China and the U.S. and LaRocco’s new book, “Trade War: Containers Don’t Lie, Navigating the Bluster.” In the discussion and in her book, LaRocco explains how we can better understand the implications of President Trump’s tariffs by following trade flows and analyzing the effects on specific ports and products like soybeans, aluminum, and steel.

 

Dollar and Sense is a part of the Brookings Podcast Network. Send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Feb 03, 2020
What’s driving populism’s rise on both sides of the Atlantic?
24:26

Not long after the yellow vest movement called attention to the resurgence of populism, strikes and demonstrations over pension reforms have disrupted France. Across Europe, long-popular social democratic parties are losing power in the face of economic discontent, distrust of institutions, and anxiety about globalization. Similar sentiments have shaken up politics in the United States.

 

In this episode of Dollar & Sense, David Dollar is joined by Célia Belin, a visiting fellow in the Center on the United States and Europe at Brookings. They look at the factors driving the rise of populism across the EU, the U.K., and the U.S. and discuss what it could mean for trade and globalization.

 

Dollar and Sense is a part of the Brookings Podcast Network.

Jan 21, 2020
Will the new US-China trade deal end the trade war?
12:09

The U.S. and China recently signed what's being called "phase one" of a trade agreement, rolling back some tariffs on Chinese goods in exchange for China promising increased purchases of U.S. goods and services.

David Dollar breaks down the details of the new deal, including China's commitments on intellectual property rights and technology transfers, whether the U.S. can increase production to meet those export goals, and the likelihood of any further concessions anytime soon.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Jan 16, 2020
The Saudi Aramco IPO and the future of global oil markets
22:07

Last month, Saudi Arabia sold about 1.5% of Saudi Aramco, a government-owned oil company, in an in an initial public offering (IPO). Shares have been sold on the Tadawul, Saudi Arabia’s stock exchange, and while the IPO has valued Aramco at $1.7 trillion, its performance was disappointing overall.

To discuss the Aramco IPO and other developments in the global oil market, David Dollar is joined by Samantha Gross, a fellow in the Foreign Policy program at Brookings and Energy Security and Climate Initiative. Their conversation covers Saudi Arabia’s efforts to diversify its economy, long-term trends in oil production and demand, and how the recent killing of Iranian Maj. Gen. Qassem Soleimani could affect markets.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Jan 06, 2020
Sen. Pat Toomey on why the USMCA falls short
19:25

Senator Pat Toomey (R-PA) has been an outspoken advocate of free trade and a critic of the United States-Mexico-Canada Agreement (USMCA), which recently passed in the House of Representatives. In this episode of Dollar & Sense, he joins host David Dollar to explain why.

Sen. Toomey explains where he believes reforms to NAFTA are needed and why the USMCA falls short — with a focus on domestic content requirements, investor protections, and intellectual property rights. He also discusses the first phase of a trade deal with China and his proposed legislation to reform Section 232 of the Trade Security Act.

 

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Dec 20, 2019
Is China undermining the global economic order or helping build it?
29:41

China faces criticism from many who perceive its actions as adversarial to the global economic order. At the same time, globalization helped lift 800 million Chinese out of poverty. What can we glean about Beijing’s approach to that order?

Wang Huiyao, the founder and director of Center for China and Globalization, joins host David Dollar to discuss China’s economic development over recent decades and its evolving role in multilateral organizations like the World Bank, Asian Development Bank, and World Trade Organization. Their conversation also touches on Washington’s criticisms of Chinese trade practices today, how they affect the U.S.-China trade war, and the prospects of China making meaningful reforms.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Dec 09, 2019
What have we learned from the trade war with China?
26:20

On the first episode of the Dollar & Sense podcast, released one year ago this week, Brookings Senior Fellows Eswar Prasad and David Dollar discussed the United States’ concerns with Chinese trade practices, including access to markets and intellectual property rights, that are at the root of the U.S.-China trade war. Prasad rejoins Dollar to reflect on what change has occurred in the past year – from recent developments in bilateral trade negotiations, to China’s domestic economic reforms and the strength of the Chinese economy.

 

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Nov 25, 2019
How do we police currency wars and manipulation?
30:19

Mark Sobel, the U.S. chairman of the Official Monetary and Financial Institutions Forum, joins Senior Fellow David Dollar to discuss contemporary issues in the international monetary system, including the strength of the dollar and what role a currency agreement could play in a U.S.-China trade deal. Sobel, who served as the U.S. representative at the International Monetary Fund, also offers his perspective on the challenges the IMF faces in trying to police currency manipulation, debates over how to fund the IMF, and whether the Fund has enough resources to adequately respond to a future economic crisis.

 

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

 

Dollar and Sense is a part of the Brookings Podcast Network.

Nov 11, 2019
Sen. Rob Portman on the importance of a fair global trading system
30:51

Ohio Senator Rob Portman has been involved in shaping American trade policy throughout his career, from his role as the United States Trade Representative to position on the Senate Finance Committee. Today, he speaks with Brookings Senior Fellow David Dollar about the state of the U.S. trade relations with Mexico, Canada, and China, and the importance of enforcing fair trading norms around the world.

Portman explains why he believes the proposed United States–Mexico–Canada Agreement (USMCA) is an improvement to NAFTA, emphasizing the need to update trade agreements to include issues like digital trade and labor enforcement, and the likelihood the agreement is passed by Congress. Later, Portman and Dollar discuss the future of the U.S. economic relationship with China and structural obstacles that stand in the way of a meaningful U.S.-China trade deal.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Oct 28, 2019
The US needs updated sanctions programs for an era of great power competition
23:36

Following the September 11th terrorist attacks in 2001, the United States developed a powerful set of sanctions aimed at restricting the financing of terrorist activities. While those tools were initially targeted at organizations like al-Qaida and later ISIS, they have also been applied to rogue states like Iran and North Korea.

In this episode of Dollar & Sense, David Dollar is joined by Michael Greenwald, a fellow at the Harvard Kennedy School’s Belfer Center who helped design sanctions programs at the U.S. Treasury, to discuss the effectiveness of these tools and why they need to be updated for an era of great power competition.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Oct 14, 2019
The story of Vietnam’s economic revolution
27:27

In this episode of Dollar & Sense, Senior Fellow David Dollar is in Hanoi, Vietnam to interview Madame Pham Chi Lan, the former secretary general of the Vietnam Chamber of Commerce and Industry, about the reforms that underpinned Vietnam’s economic revolution. Dollar and Madam Lan discuss how Vietnam opened itself to foreign trade and direct investment, the rise of the country’s private sector, and the repercussions of the U.S.-China trade war.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Sep 30, 2019
How smart economic policy can help combat climate change
27:20

Ahead of the United Nations General Assembly and Climate Action Summit, World Resources Institute President and CEO Andrew Steer joins Senior Fellow David Dollar to discuss the steps countries are taking to address climate change and whether it's enough. Dollar and Steer focus on the economic policies that can combat rising global temperatures, including financial reforms, carbon pricing, public and private investments, and technological innovation.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Sep 16, 2019
A back to school primer on global trade issues
22:28

At Brookings, we often benefit from the support of talented students that intern with our research and communications teams. Some of those interns return to campus this week for the start of a new school year, and before their classes begin, we took the opportunity to ask what questions they have about today's volatile trade landscape. In this episode of Dollar & Sense, Senior Fellow David Dollar answers those questions and provides an overview of the big stories in trade policy, including the U.S.-China trade war, rising tensions between South Korea and Japan, and how automation and artificial intelligence affect American jobs.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Sep 03, 2019
France is not alone in its plan to tax tech giants
23:59

Lilian Faulhaber, a professor at the Georgetown University Law Center, joins Senior Fellow David Dollar to discuss France’s new digital services tax and the implications it will have for large American tech companies like Google, Apple, Facebook, and Amazon.

While the French plan may become a point of contention at the G7 summit in Biarritz, France later this month, similar proposals are being pursued in countries across Europe. Faulhaber explains the push for a digital tax in the United Kingdom and the Organization for Economic Cooperation and Development (OECD), and the likelihood of coordinated global efforts on international tax policy and multinational tax avoidance.

Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Brookings.edu, and follow us and tweet us at @policypodcasts on Twitter.

Dollar and Sense is a part of the Brookings Podcast Network.

Aug 19, 2019
Is China really manipulating its currency?
07:08

Amid a turbulent week in the U.S.-China trade war, Senior Fellow David Dollar explains why the value of China’s yuan is falling and whether the U.S. Treasury Department’s designation of China as a currency manipulator is accurate. Dollar also discusses the effect that the yuan’s depreciation had on the U.S. stock market, why markets stabilized on Tuesday, and the prospects of a de-escalation of tensions. 

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Dollar and Sense is a part of the Brookings Podcast Network.

Aug 06, 2019
Where do the Democratic candidates stand on trade?
24:00

In this episode of Dollar & SenseDavid Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at Brookings, joins David Dollar as they offer their reactions to this week’s primary debates and unpack the trade policies of the Democratic candidates running for president. Wessel and Dollar describe how Democrats’ positions compare to President Trump’s trade policies, with a focus on Senators Warren and Sanders. 

They also discuss whether embracing free trade or protectionist policies will be more politically viable, the effect President Trump’s tariffs have had on the U.S. economy, and the Federal Reserve’s recent decision to cut interest rates for the first time in over ten years.

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Aug 02, 2019
The geography of prosperity: How to help the areas lagging behind
25:50

Jay Shambaugh, a senior fellow at Brookings and director of the Hamilton Project, joins David Dollar to discuss why economic prosperity is concentrated in certain regions of the United States while other areas are left behind. Their conversation draws from “Place-based policies for shared economic growth,” a recent book from the Hamilton Project that presents strategies for addressing regional inequality and explains why many previous place-based proposals have failed.

Shambaugh and Dollar also unpack the significance of U.S. presidential candidates advocating for manipulating the value of the dollar to support U.S. manufacturing and whether that would help traditionally industrial areas like the old Rust Belt.

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Jul 22, 2019
Could China’s digital payment system be a model around the world?
29:38

Two Chinese companies – Alibaba and Tencent – have developed a new payment system that relies on digital wallets, smart phones, and QR codes, not on banks or bank-issued credit like the system prevalent in United States. Senior Fellow David Dollar is joined by Aaron Klein, the policy director of the Center on Regulation and Markets, to discuss the details of China’s system, whether it might become more common outside China, and the impact similar advances in financial technology could have around the world.

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Jul 08, 2019
Chinese perspectives on trade and the economic tension with the US
27:18

In this episode of Dollar & Sense, economist and professor Yiping Huang joins David Dollar to discuss the drivers of economic growth in China. Their conversation spans China’s development since its initial economic liberalization in the 1970s, the role of foreign investment in the Chinese economy, and China’s perspective on growing trade tensions with the United States. Finally, Yiping explains his view of China’s optimal strategy in navigating U.S. trade negotiations and continued reform and opening.

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Jun 24, 2019
Former USTR Charlene Barshefsky on the obstacles to a US-China trade deal
27:58

In this episode of Dollar & Sense, former United States Trade Representative Charlene Barshefsky joins David Dollar to discuss the history of the United States’ economic engagement with China. Their conversation covers China’s entry and membership in the World Trade Organization, how domestic Chinese politics have affected the country’s trade policies, and the lasting impact of the global financial crisis on U.S.-China relations. Finally, Barshefsky outlines the prospect of the two countries reaching a trade deal in the near future.

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Jun 10, 2019
What's at stake in the US-Mexico tariff dispute?
06:53

In a special episode of Dollar & Sense, Fellow Geoffrey Gertz discusses the ongoing tariff dispute between Mexico and the United States. Gertz explains the likelihood of the Trump administration imposing tariffs and the potential costs those tariffs would have for both Mexico and the U.S.

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Jun 06, 2019
Southeast Asia: Caught in the middle of US-China competition
23:03

Are Southeast Asian nations being forced to choose between China and the United States on issues like infrastructure, trade, and security? That’s one of the key questions explored in this episode as host David Dollar interviews Jonathan Stromseth, the Lee Kuan Yew Chair in Southeast Asian Studies and a senior fellow at Brookings. Dollar and Stromseth tackle a variety of related issues, including the Free and Open Indo-Pacific strategy of the Trump administration; the effect that China’s economic engagement in the region—in particularly its Belt and Road Imitative—has on governance and democracy; and specific cases like Malaysia, Cambodia and Vietnam.

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May 28, 2019
What role do sanctions play in US foreign policy?
31:03

Elizabeth Rosenberg, a senior fellow at the Center for a New American Security, joins David Dollar to discuss the role financial and economic sanctions play in U.S. foreign policy. Their conversation outlines how sanctions have been imposed against Iran and North Korea, why the U.S. is uniquely positioned to use sanctions as an instrument, the strength of the dollar, and concerns with sanctions being overused as a means for reaching diplomatic ends.

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May 13, 2019
Tariffs on China are no substitute for a trade deal
08:15

In a special episode of Dollar & Sense, Senior Fellow David Dollar provides an update on the state of U.S.-China trade talks following the latest round of negotiations in Washington this week. Dollar explains recent escalations and the new tariffs imposed by the Trump administration, what to anticipate as negotiations move forward, and new research on the impact tariffs have on U.S. firms and the economy.

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May 10, 2019
China’s Belt and Road stretches to Africa
25:05

Deborah Brautigam, director of the China Africa Research Initiative at Johns Hopkins University’s School of Advanced International Studies, joins Senior Fellow David Dollar to discuss China’s Belt and Road Initiative and its implications for Africa. Brautigam and Dollar address the scale of Chinese financing in Africa and around the world, debt-trap diplomacy, labor issues, and much more. 

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Apr 29, 2019
Robert Koopman on global value chains and the WTO
24:18

Robert Koopman, the chief economist at the World Trade Organization (WTO), joins Senior Fellow David Dollar to discuss the role global value chains play in world trade and the effects they have on developing economies, advanced economies, and the WTO.

Their conversation draws from a new report published by the WTO and its partners which summarizes research on global value chains and the implications of emerging technologies.

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Apr 15, 2019
What's next for Brexit
26:01

Amanda Sloat, the Robert Bosch Senior Fellow in the Center on the United States and Europe, joins host David Dollar to give an update on Brexit. She explains why Brexit did not occur as originally expected on March 29; what the process for UK Prime Minister Theresa May, Parliament, and the EU looks like going forward; and important issues such as the Irish border, the UK's potential for pursuing an independent trade policy, the "Norway model," implications of a "no-deal" Brexit, and the possibility of a second referendum.

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Apr 01, 2019
Ernesto Zedillo on globalization, NAFTA and the wall
28:43

Ernesto Zedillo, former president of Mexico and now director of the Yale Center for the Study of Globalization, talks with David Dollar about the importance of globalization for developing countries, the erosion of multilateralism, NAFTA and its proposed replacement—the USMCA—and other issues on trade. Dollar also asks Zedillo whether President Trump’s push to build a border wall between the U.S. and Mexico is damaging the bilateral relationship.

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Mar 18, 2019
Wendy Cutler on how to enforce a US-China trade deal
27:32

Wendy Cutler, vice president of The Asia Society Policy Institute and former acting deputy U.S. trade representative, joins David Dollar to discuss the structural issues in the U.S.-China trade negotiations and how a trade agreement between the two countries could be enforced. Cutler and Dollar explain the enforcement mechanisms at the administration’s disposal, the issues of intellectual property rights and state enterprises, and much more.

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Mar 04, 2019
Why US-China trade talks are going into overtime
05:14

In a special episode of Dollar and Sense, David Dollar provides an update on the current state of U.S.-China trade negotiations. He explains why the March 1 deadline to reach a trade deal has been pushed back, what a potential agreement could look like, and how an agreement—once one is made—could be enforced.

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Feb 25, 2019
Janet Yellen on monetary policy, currencies, and manipulation
29:16

Currency values play a critical role in international trade, influencing the profitability of exporting and importing. Large movements in currency values are often controversial, leading to accusations of “manipulation” or even “currency wars.” 

In this episode, Janet Yellen, distinguished fellow in residence with the Economic Studies Program and former chair of the Board of Governors of the Federal Reserve System, discusses with host David Dollar the links among monetary policy, exchange rates, and trade. She cites the “taper tantrum” of 2013 and the Chinese devaluation of 2015 as cases where Fed policy and currency markets influenced each other. 

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Feb 19, 2019
Trade priorities for Congress: A conversation with Rep. Rick Larsen
21:47

Senior Fellow David Dollar talks with Representative Rick Larsen (D-Wash.) about a range of trade issues on the 116th Congress's plate, including the U.S.-China trade war, the Trans-Pacific Partnership, trade with Japan, and the new NAFTA. Congressman Larsen represents Washington State's 2nd District, serves on the House Transportation and Infrastructure Committee and the House Armed Services Committee, and is co-chair of the bipartisan U.S.-China Working Group.

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Feb 04, 2019
Anxiety about the global economy in Davos
29:12

In this episode, Senior Fellow David Dollar and Nonresident Senior Fellow Douglas A. Rediker discuss the global economic conditions that will be on the minds of leaders assembled at the World Economic Forum in Davos, Switzerland. Rediker and Dollar cover the ongoing trade dispute between the U.S. and China, selection of the next World Bank president, the International Monetary Fund and World Trade Organization, and generalized uncertainties about the global economy.

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Jan 22, 2019
How Trump’s trade policies will affect manufacturing
25:42

Senior Fellow David Dollar speaks with Brad Setser, the Steven A. Tananbaum senior fellow for international economics at the Council on Foreign Relations, about a range of trade topics, including currency issues, U.S.-China trade tensions, whether President Trump’s tariffs could affect manufacturing, and the proposed U.S.-Mexico-Canada trade agreement (USMCA).

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Jan 07, 2019
All about the Trans-Pacific Partnership
25:47

On December 30, the Trans-Pacific Partnership trade agreement among 11 Asia-Pacific nations comes into effect. The United States was part of the original agreement, but the Trump administration pulled out of the trading bloc. David Dollar talks with Mireya Solís, director of the Center for East Asia Policy Studies at the Brookings Institution, about the TPP, its effects on tariffs, its provisions on e-commerce, and Japan's role in keeping the agreement alive after the U.S. departed. Discussion also focused on China's relationship from the outside to the pact, the WTO, state-owned enterprises, and how other nations—including the U.S.—could join.

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Dec 24, 2018
Trade issues for the new Congress and the 2020 election
24:33

Brookings Institution Senior Fellow David Dollar speaks with Elaine Kamarck, senior fellow in Governance Studies at Brookings, about the role trade issues played in the 2018 midterm elections, and what trade matters are likely to come up for the new Congress, such as tariffs and the auto industry. Also, Dollar and Kamarck look ahead to how trade might impact the 2020 presidential race for both parties.

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Dec 10, 2018
US-China trade war, or trade deal?
26:23

In this first episode of the new Brookings trade podcast Dollar & Sense, Senior Fellow David Dollar speaks with Senior Fellow Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University and a leading expert on the Chinese economy, about a range of issues in the U.S.-China relationship. The conversation includes topics such as U.S. and Chinese trade practices, bilateral trade balances, China's economy and currency, the U.S.-China trade war, and whether Presidents Trump and Xi can make a deal at their meeting during the G-20 summit in Buenos Aires.

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Nov 26, 2018
Introducing Dollar & Sense, a trade podcast from the Brookings Institution
01:37

From tariffs and trade wars to the new Trans Pacific Partnership and NAFTA’s replacement, trade has been making a lot of headlines recently, especially since the election of Donald Trump who’s redefined America’s role on the global stage with his America-first posture.

Dollar & Sense is a podcast about all things trade. From local ports and markets to international trade and diplomacy, Brookings Institution Senior Fellow David Dollar and guests explain how our global trading system is built and its effect on our everyday lives.

Stay tuned for upcoming episodes on the U.S.-China trade war and the Trump-Xi meeting; how the outcome of the 2018 midterm elections will affect policy toward trade; and much more.

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Dollar & Sense is a part of the Brookings Podcast Network.

Nov 14, 2018