Peterson Perspectives: Interviews on Current Issues

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Audio recordings of Peterson Perspectives interviews with Peterson Institute for International Economics research staff, analyzing current economic and political events.

Episode Date
Trade Talks Episode 121: Can Infant Industry Protection Work? Evidence from Napoleon
The Napoleonic Blockade offered an opportunity for economists to see whether temporary protection from imports can help industrial development. Réka Juhász (Columbia University) joins to discuss her research into whether French regions better protected from trade with the British during the Napoleonic Wars (1803-1815) did better in mechanized cotton spinning – the era’s frontier industry – than more exposed regions.
Feb 12, 2020
Trade Talks Episode 119: Stock Markets, the Economy, and Trump’s Trade Policy Uncertainty
Nick Bloom (Stanford University) joins to discuss the increase in trade policy uncertainty under President Trump and implications for investment and economic growth. They describe new ways of measuring policy uncertainty – including the Economic Policy Uncertainty Index, as well as surveys – and recent evidence of its impact, including on the US stock market.
Jan 27, 2020
Trade Talks Episode 118: Ins and Outs of the US-China Phase-One Trade Deal
Two former USTR negotiators join to explain the details of the new US-China trade agreement. Agriculture negotiator Darci Vetter (Edelman, 3:50) describes China’s new commitments toward US farm products, and foreign investment negotiator Lauren Mandell (WilmerHale, 18:30) explains changes to China’s legal system, protection of intellectual property, as well as the agreement’s dispute settlement provisions. Finally, Simon Rabinovitch (The Economist, 37:15) joins to provide the reaction from China.
Jan 21, 2020
Trade Talks Episode 117: Trump's Import Tariffs Have Hurt US Exports
New evidence reveals a side effect of President Trump’s import tariffs. The research shows that, through US supply chain linkages, the new US tariffs on imported inputs are directly contributing to the recent slowdown in US exports of outputs. Kyle Handley (University of Michigan) joins to discuss the potential causes and consequences of these results.
Jan 09, 2020
Trade Talks Episode 116: Fish Subsidies. What’s the Catch?
The WTO is failing to meet a 2020 deadline set by the UN’s Sustainable Development Goals to negotiate limits to fisheries subsidies. To figure out why, we went to Geneva and spoke with Alice Tipping (International Institute for Sustainable Development) and Mukesh Bhatnagar (Centre for WTO Studies). We describe difficulties on getting a deal to restrain subsidies which lead to overcapacity and overfishing, as well as eliminating subsidies that contribute to illegal, unreported, and unregulated fishing.
Dec 30, 2019
Trade Talks Episode 115: The Trade War and US Elections
Republicans lost 40 seats in the 2018 elections for the US House of Representatives. Emily Blanchard (Tuck School of Business) joins to discuss new research that investigates how Trump’s trade war affected the 2018 election. The evidence suggests the combination of the trade war and attempts to repeal and replace the Affordable Care Act may have cost the Republicans as many as 15 House seats.
Dec 20, 2019
Trade Talks Episode 114: US and China Announce a Phase-One Deal
Trump’s US Trade Representative provides a fact sheet and more detail on the first stage of the deal announced December 13 to address the administration’s trade war with China. The fact sheet previews an eventual 86-page legal agreement that would include additional Chinese commitments on intellectual property rights protection, technology transfer, agriculture, financial services, currency, dispute resolution, and expanding trade. Bown and Keynes also discuss what the Trump administration has agreed to do with all of the new tariffs it has imposed on China, as well as what is not in the phase one deal.
Dec 16, 2019
Trade Talks Episode 113: How and Why Congressional Democrats Tweaked the USMCA
USMCA gets one step closer after Congressional Democrats, organized labor, the Trump administration, and Mexico strike a deal. Megan Cassella (Politico, 2:18) explains how the four-way negotiations led to the December 10 announcement of additional tweaks to the new North American trade agreement, including on biologics. Simon Lester (Cato Institute, 14:13) and Kathleen Claussen (University of Miami, 20:00) also join to discuss changes to dispute settlement and the enforcement of rules regarding labor.
Dec 14, 2019
Trade Talks 112: Forensic Subsidies Detectives and Trade Disputes
Government subsidies are a key battle area in today’s trade disputes between countries, including the US and China. But finding and measuring those subsidies is increasingly hard. Ken Ash uses the aluminum sector to describe the OECD’s new approach to tracking them down. He also previews a new OECD report on subsidies to semiconductors, and the role of government-sponsored equity injections.
Dec 09, 2019
Trade Talks 111: Trade Policy Under Trump
Stephen Vaughn, formerly the Trump administration’s USTR General Counsel, joins in a wide-ranging conversation about the Trump administration’s trade policy. They discuss critiques of the pre-Trump approach (3:04), as well as Trump’s approach on China (6:00), the European Union (18:30), the WTO Appellate Body (22:50), and more.
Nov 25, 2019
Trade Talks 110: Will 3D Printing Increase Trade? Hear All About It
Companies can now "print" some products locally, obviating the need for trade. But for hearing aids, the economic shakeup has turned out different thus far. Caroline Freund and Michele Ruta (World Bank) join to discuss their new research examining the many ways the introduction of a transformative technology impacted global trade and consumer access to one important 3D-printed product.
Nov 12, 2019
Trade Talks 109: A Different US-China Fight Hits the Headlines
The WTO authorizes China to retaliate against US exports. The timing bodes poorly for an Appellate Body already under stress. They discuss how the US has failed to fix its antidumping and the “single rate presumption” issue in this dispute, as well as the history of WTO challenges to US use of trade remedies. As the clock ticks toward potential end of the Appellate Body on December 11, they also speak with former WTO AB member Peter Van den Bossche (World Trade Institute) about American complaints over judicial activism, overreach, and precedent at the WTO.
Nov 05, 2019
Trade Talks 107: Making Services Trade Great
Services trade gets no respect. The release of the WTO’s World Trade Report 2019 gave us a chance to fix that. Roberta Piermartini and Stela Rubinova (World Trade Organization) as well as Alan Beattie (Financial Times) join to provide insights on services trade the Report. They explain services trade’s growing importance relative to goods trade, the sectors and countries driving the increase, the various modes by which it is delivered, and why liberalization of services trade is just so hard.
Nov 01, 2019
Trade Talks 107: Bombed Embassies and Document Leaks – How China Got into the WTO
Paul Blustein (Centre for International Governance Innovation) joins to discuss the contentious process of US-China negotiations in the late 1990s that ultimately resulted in China joining the World Trade Organization. Their discussion of his latest book – Schism: China, America, and the Fracturing of the Global Trading System – sets the stage for much of the subsequent challenges that continue to affect the US-China trade relationship today.
Oct 24, 2019
Trade Talks 106: Trump's Mini-Deal with China
Jenny Leonard (Bloomberg News) joins to update what is known about President Trump’s October 11 announcement of a potential deal to address his ongoing trade war with China. Their wide-ranging conversation covers Beijing’s take on these developments, how this agreement compares to what was on the table in May, as well as common misconceptions about the ongoing trade conflict.
Oct 15, 2019
Trade Talks 105: Aircraft Subsidy Disputes: How These Tariffs Are Different
The World Trade Organization authorizes new US retaliatory tariffs on EU imports in one of its biggest and longest-running formal disputes in history. Former WTO Appellate Member Jennifer Hillman (Council on Foreign Relations) joins to explain the complexity of the case and what happens next. They discuss WTO rules on subsidies, upcoming US retaliatory tariffs on imported airplanes, billions of dollars of imported European cheeses, alcohol, and other consumer products, as well as the products the United States left off this round of retaliation.
Oct 07, 2019
favoriteshare flag audioTrade Talks Episode 104: How to Hit Currency Manipulators and Fight the Strong Dollar
A strengthening dollar reignites a recurring debate about how to hit back against countries that deliberately weaken the value of their currencies. Joseph Gagnon (PIIE) and Maury Obstfeld (PIIE, Berkeley) join to discuss two recent and controversial policies proposed to attack that problem. The first is retaliatory tariffs under US countervailing duty law. The second is to give the US Treasury and Federal Reserve new access to hundreds of billions of dollars to use as countervailing currency intervention.
Sep 30, 2019
Trade Talks Episode 103: US-China Trade War from the Trenches
Erin Ennis and Jake Parker (US-China Business Council) join to explain results from the USCBC’s annual survey of its members of American companies doing business in China. They describe the original purpose and nearly 20-year history of the survey, as well as the latest findings about what worries American companies in China. They also discuss how companies miscommunicate with both the US and Chinese governments, how they feel about the Section 301 investigation and the tariffs, and how they are being treated during the trade war.
Sep 24, 2019
Trade Talks Episode 102: Is Trump Beating the Chinese Economy?
Nicholas Lardy (Peterson Institute for International Economics) joins to provide an update on Chinese economic performance over the year since the summer 2018 outset of the trade war. They assess a number of President Trump’s recent statements by examining data on China’s economic growth, exports, unemployment, and foreign investment taking place in the Chinese economy.
Sep 17, 2019
Trade Talks Episode 101: Huawei, National Security, and the Trade War
Yuan Yang (Financial Times) joins to explain the allegations and complications surrounding Chinese telecom equipment maker Huawei. They discuss alleged risks to national security, IP theft, unfair trade, sanctions violations, export controls, the entity list, and more.
Sep 16, 2019
Trade Talks Episode 100: Sneaking Up on a No-Deal Brexit
Anand Menon (The UK in a Changing Europe) joins Keynes and Bown to provide an update on political developments, as well as the shifting timeline, for Britain to depart from the European Union with or without a trade agreement. They also discuss shortages, contingency planning, and the expected initial economic impact if no deal were to arrive.
Sep 11, 2019
Trade Talks Episode 99: The Surprising Story of the US Trade Deficit with South Korea
Kadee Russ (University of California Davis) joins Keynes and Bown to discuss her research on why Korea’s trade surplus grew so widely after the Korea-US (KORUS) Free Trade Agreement went into effect in 2012. They explain the role of trade diversion, or US imports from South Korea displacing imports previously coming in from other countries like China and Mexico. They also discuss contributions due to differences in US and South Korean rates of economic growth, and the right way to think about trade deficits.
Sep 06, 2019
Trade Talks Episode 98: What's Wrong with Germany's Trade Surplus?
Jeromin Zettelmeyer (Peterson Institute for International Economics) joins Keynes and Bown to explain the growth of Germany’s trade and current account surplus, and the puzzle behind why it has not gone away. They discuss the role of the Europe Union, the value of the Euro, ways German policymakers could tackle the surplus, as well as worries over the return of economic nationalism.
Aug 28, 2019
Trade Talks Episode 97: Watching China's Human Rights
Sophie Richardson (Human Rights Watch) joins Keynes and Bown in a wide-ranging conversation about human rights in China. They begin with basic human rights before turning to recent Chinese government efforts to surveil, detain and politically re-educate hundreds of thousands of Uighurs – the minority Turkic and Muslim community – in Xinjian province. They also describe the concerns driving the Hong Kong protests, how countries and the United Nations Human Rights Council could hold the Chinese government accountable, as well as linkages between external efforts to improve human rights and the connection between the Chinese and the rest of the world’s economies.
Aug 22, 2019
Trade Talks Episode 96: Trump's Next China Tariffs and Fears in the Global Economy
Keynes and Bown discuss the Trump administration’s announcement to impose new tariffs totaling $300 billion of Chinese imports split across September 1 and December 15, 2019. Each tariff list targets a different set of consumer goods for the first time, and yet their rollout also avoids import surges associated with peak American shopping seasons. They also describe new evidence of heightening concerns of conditions in the US and global economy.
Aug 16, 2019
Trade Talks Episode 95: Is China a Currency Manipulator?
Keynes and Bown discuss the Trump administration’s decision to name China a currency manipulator. They are joined by former IMF Chief Economist Maury Obstfeld (PIIE), Joseph Gagnon (PIIE), and Alice Fulwood (The Economist), who help explain what affects the value of the US dollar, the history of Chinese currency manipulation, the challenge of identifying a country as a currency manipulator, and the implications of the Trump administration’s actions today.
Aug 09, 2019
Trade Talks Episode 95: Is China a Currency Manipulator?
Keynes and Bown discuss the Trump administration’s decision to name China a currency manipulator. They are joined by former IMF Chief Economist Maury Obstfeld (PIIE), Joseph Gagnon (PIIE), and Alice Fulwood (The Economist), who help explain what affects the value of the US dollar, the history of Chinese currency manipulation, the challenge of identifying a country as a currency manipulator, and the implications of the Trump administration’s actions today.
Aug 09, 2019
Trade Talks Episode 94: The Trade War and the Fed, with Adam Posen
Adam Posen (Peterson Institute for International Economics) joins Keynes and Bown to discuss the US Federal Reserve’s decision to cut interest rates for the first time in 10 years. They describe the uncertainty facing central bankers, the impact of the global economy on their decision-making, and whether there is a relationship between their actions and President Trump’s tariffs.
Aug 05, 2019
Trade Talks Episode 94: The Trade War and the Fed, with Adam Posen
Adam Posen (Peterson Institute for International Economics) joins Keynes and Bown to discuss the US Federal Reserve’s decision to cut interest rates for the first time in 10 years. They describe the uncertainty facing central bankers, the impact of the global economy on their decision-making, and whether there is a relationship between their actions and President Trump’s tariffs.
Aug 05, 2019
Trade Talks Episode 93: US Trade Policy Before Trump, with Ambassador Michael Froman
Former United States Trade Representative Michael Froman joins Keynes and Bown to discuss the Obama administration’s approach toward China and the World Trade Organization. On China, they describe the challenge of relying on allies and US companies when using WTO dispute settlement, the utility of the US-China bilateral investment treaty negotiations, and the links between trade and national security. On the WTO, they discuss the deals that were agreed, the decision to end the Doha Round of negotiations, and the Obama administration’s frustrations with the Appellate Body.
Jul 19, 2019
Trade Talks Episode 92: Japan and South Korea: Old Wounds, New Trade Fight
Keynes and Bown are joined by Dukgeun Ahn (Seoul National University) to discuss Japan’s threat to limit South Korean access to inputs needed to make display panels and semiconductors for smartphones. The current dispute traces back to failures to resolve private reparations claims over World War II atrocities. They explain new economic threats to regional supply chains, Japan’s national security justification for its decision, the role of the WTO and a legal decision over the Fukushima nuclear accident, and even implications for the CPTPP.
Jul 15, 2019
Trade Talks Episode 91: Can Trade Adjustment Assistance Work?
Ben Hyman (Federal Reserve Bank of New York) joins to discuss the problem of workers hurt by increased competition arising through trade. They explain the US Trade Adjustment Assistance (TAA) program and new evidence on whether it helps workers stay in the labor market, retrain, and keep earning wages by remaining attached to jobs.
Jul 08, 2019
Trade Talks Episode 90: Trade Policy the Asian Way
Former Indonesian Trade Minister Mari Pangestu joins Keynes and Bown in a wide-ranging conversation about trade policy and negotiations in Asia. They chat about Indonesia’s episodes of trade liberalization, corruption, and the benefits of losing a WTO dispute. They discuss her experience negotiating ASEAN (Association of Southeast Asian Nations) free trade agreements with both India and China, as well as the birth of the RCEP (Regional Comprehensive Economic Partnership) idea. They also explain how Indonesia is caught between China and the United States in the ongoing trade war, and the negotiations Indonesia now faces with the Trump administration under the Generalized System of Preferences.
Jun 12, 2019
Trade Talks Episode 89: The Migration Crisis Behind Trump's Mexico Tariff Threat
Gordon Hanson (University of California San Diego) joins Keynes and Bown to explain the migration and humanitarian crisis at the heart of President Trump’s threat to impose new tariffs on imports from Mexico. They discuss the history of undocumented migration arising since the 1960s, as well as how it has been impacted by changes in US and Mexican economic conditions and immigration policies. They also describe how the crisis has been affected by rising violence in Guatemala, El Salvador, Honduras and Mexico, as well as the unintended consequences of US and Mexican migration and asylum policies.
Jun 07, 2019
Trade Talks Episode 88: Trump-Mexico Trade War Cheat Sheet
Keynes and Bown describe President Trump’s decision to declare an emergency on the US southern border. On May 30, Trump invoked the 1977 International Emergency Economic Powers Act (IEEPA) and stated he would impose new tariffs on all US imports from Mexico starting June 10 unless, in his view, the “illegal migration crisis is alleviated through effective actions taken by Mexico.” They discuss the potential legality of such an action, as well as the likely economic implications for the United States, Mexico, and the trading system.
Jun 03, 2019
Trade Talks Episode 87: Trump Shifts His National Security Threats (Again)
Keynes and Bown explain Trump’s latest trade actions in his national security cases on steel, aluminum and automobiles. They speak with Kristin Dziczek (Center for Automotive Research) about perceived threats to R&D of “American-owned” carmakers, as well as the political and economic implications of Trump negotiating voluntary export restraints on autos from the EU and Japan. They also describe the managed trade implications of the agreement to remove US tariffs on steel and aluminum from Canada and Mexico, as well as the possible resumption of future conflict.
May 20, 2019
Trade Talks Episode 86: When Is Tariff Revenue Bad Tax Revenue?
Lucie Gadenne (University of Warwick, IFS) joins Keynes and Bown to explain when and why some countries use import tariffs as an important source of total tax revenue collections. They discuss her research on the fiscal cost of trade liberalization, what has happened recently when poor countries cut tariffs, and how and why things were different historically when today’s rich countries opened up to trade.
May 17, 2019
Trade Talks Episode 85: Trump-China Negotiating Dramatics and Even More Tariffs
Keynes and Bown update the sudden change in US-China trade negotiations and President Trump’s tariff escalation. They speak with Lingling Wei in Beijing (Wall Street Journal) about misunderstandings and why the two sides remain so far apart. They also discuss the expected economic impact of Trump’s new tariffs, as well as his proposal to buy US farm products and distribute them to poor countries.
May 13, 2019
Trade Talks Episode 84: Brexit, British Politics, and European Parliamentary Elections
Duncan Robinson (The Economist) joins Soumaya Keynes and Chad Bown to provide an update on the Brexit process of the United Kingdom leaving the European Union. They discuss ongoing cleavages in the major British political parties, and implications of the 2019 elections to the European Parliament taking place in the United Kingdom as well as across Europe.
May 07, 2019
Trade Talks Episode 83: Tariffs for Sale and Identity Politics
Soumaya Keynes and Chad Bown chat with Gene Grossman (Princeton University) about decades of research on what determines tariffs in the real world. They discuss the role that voters, politicians, lobbyists, and campaign contributions play in setting out the supply of and demand for trade protection. They also describe what political economists may have gotten wrong, as well as the role that identity politics may have played in shaping the recent trade backlash and election of Donald Trump.
May 02, 2019
Trade Talks Episode 82: How Big Is the USMCA? It’s Uncertain
Soumaya Keynes of The Economist and Chad P. Bown of PIIE discuss the hotly anticipated US International Trade Commission economic impact assessment of the US-Canada-Mexico Agreement. They explain the ITC use of economic models to show potential effects on the US economy of changing from the North American Free Trade Agreement to the new USMCA. They describe distributional and overall economic impacts arising through the resolution of uncertainty on data and digital information, new rules of origin for the automobile sector, and other policy changes induced by the USMCA.
Apr 29, 2019
Trade Talks Episode 81: National Security and Trade – The Fear of Imitation
Mona Pinchis-Paulsen (New York University) joins Soumaya Keynes and Chad Bown to discuss the historical origins and tradeoffs of justifying trade restrictions under the threat to national security. Sparked by an April 2019 WTO ruling involving combat between Russia and Ukraine, they explain the key fight within the original team of American negotiators that arose in the 1940s when setting up the International Trade Organization at the close of World War II. They discuss whether today’s Article XXI is 'self-judging' and 'non-justiciable,' they foreshadow conflicts around President Trump’s national security tariffs on steel and aluminum, and they describe implications for the future of the WTO.
Apr 18, 2019
Trade Talks Episode 80: Zeroing: The Biggest WTO Threat You’ve Never Heard Of
Keynes and Bown replay episode #45 (July 2, 2018), explaining the outsized importance of "zeroing"—a technical, yet politically controversial method the United States uses to calculate antidumping tariffs. They speak to Thomas Prusa (Rutgers University) about zeroing’s contentious negotiating history, how it works in practice, who is in favor of it, and how much trade is affected by it. They also discuss how the dozens of WTO disputes the United States has lost over this issue set up the current showdown facing the WTO Appellate Body and the future of the trading system.
Apr 09, 2019
Trade Talks Episode 79: A President Explains Mexican Trade
Former Mexican President Ernesto Zedillo (Yale University Center for the Study of Globalization) joins Soumaya Keynes and Chad Bown to chat about Mexico’s history of trade and trade deals. They start in 1980 with Mexico’s closed economy, and then they discuss its entry into the GATT, the NAFTA, Ernesto’s Presidency (1994-2000), Mexico’s negotiations with the European Union, and more. In addition to its contentious relationship with the United States, they also grapple with inequality, investor-state dispute settlement, Mexico’s labor laws, its trade issues with China, and the new United States-Mexico-Canada Agreement.
Apr 05, 2019
Trade Talks Episode 78: Trade Talks Does Its Taxes
Kimberly Clausing (Reed College) joins Soumaya Keynes and Chad Bown to explain international taxation and its impact on multinational corporations. They discuss the economic and policy concerns over profit-shifting, tax havens, and different approaches that governments have taken, including worldwide and territorial systems, to tax the profits of such companies. They explain the US system, how it changed with the controversial Tax Cuts and Jobs Act of 2017, as well as continuing challenges to international cooperation. Read Kim’s new book Open: The Progressive Case for Free Trade, Immigration, and Global Capital (Harvard University Press, 2019).
Apr 01, 2019
Trade Talks Episode 77: Happy Tariffversary
One year on from the 2018 national security actions on steel and aluminum, Soumaya Keynes and Chad Bown discuss who is paying for President Trump’s tariffs. They speak with David Weinstein (Columbia University) and Amit Khandelwal (Columbia Business School) about two new research studies answering that question, as well as how the tariffs impact the US economy overall, who is winning and losing across America, and whether the tariffs differentially targeted Republican or Democratic voters.
Mar 25, 2019
Trade Talks Episode 73: Soybeans and the Trade War Fallout
Soumaya Keynes and Chad Bown discuss the economics of soybeans, a major American export targeted by Chinese tariffs as part of the ongoing US-China trade war. Keynes visits farms in Iowa, and the two explain the impact of competition from Argentina and Brazil, as well as the yo-yo’ing of soybean prices during the ongoing conflict.
Feb 23, 2019
Trade Talks Episode 72: Richard Baldwin on Disruption, Technology and Trade
Soumaya Keynes and Chad Bown sit down with Richard Baldwin (Graduate Institute) to talk about centuries of economic and social change resulting from the combined forces of globalization and new innovations. They also discuss his new book "The Globotics Upheaval: Globalization, Robotics, and the Future of Work" and about how ICT, digital trade, artificial intelligence, machine learning and tele-migrants may soon create social havoc for a very different type of worker than has been forced to adjust in the past.
Feb 14, 2019
Trade Talks Episode 71: Money Matters for Trade
Soumaya Keynes and Chad Bown sit down with Kalina Manova (University College London) to talk about how corporate finance affects international trade. They discuss her research on how access to finance can be a source of comparative advantage, how the financial crisis of 2008–09 contributed to a collapse in global trade, as well as the role that multinational companies sometimes play to help emerging economies overcome poor local financial markets in order to engage in the global economy.
Feb 07, 2019
Trade Talks Episode 70: Nicholas Lardy on the Chinese Economy
Soumaya Keynes and Chad Bown sit down with Nicholas Lardy (PIIE) to talk about his new book “The State Strikes Back: The End of Economic Reform in China?” They discuss the evolution of Chinese economic development since 1978, the role of the private sector, the resurgence of state-owned enterprises under President Xi, and why reform today is so hard.
Jan 30, 2019
Trade Talks Episode 69: Slowbalization
Soumaya Keynes and Chad Bown discuss forces working to slow the pace of globalization. Patrick Foulis (The Economist) joins from Davos, Robert Johnson from the University of Notre Dame and finally Susan Lund of the McKinsey Global Institute from Washington, DC. They describe recent trends, their causes and reasons to be worried. Then Chad talks about his research on tariffs.
Jan 25, 2019
Trade Talks Episode 68: Brexit Votes for Uncertainty
Soumaya Keynes and Chad Bown discuss the rocky departure of the United Kingdom from the European Union. Sam Lowe (Centre for European Reform) joins for an update on the latest political developments as Britain approaches the March 29, 2019 deadline. They then speak with Meredith Crowley (University of Cambridge) and Kyle Handley (University of Michigan) about new research on the economic impact that Brexit-related uncertainty has already had.
Jan 19, 2019
Trade Talks Episode 67: Blood Trade
Soumaya Keynes and Chad Bown speak with Alice Fulwood (The Economist) about what is behind the $150 billion of annual trade in blood plasma products. They cut through the mystery of the exploding trade flows by explaining technological advancements, value-added, regulatory differences across countries that affect supply and demand, and intriguing developments and patterns of the industry’s cross-border supply chains.
Jan 15, 2019
Should the United States Sanction Venezuelan Oil?
Monica de Bolle argues that sanctioning Venezuela’s oil company PDVSA will worsen the country's humanitarian crisis but will likely not change President Nicolas Maduro's behavior.
Feb 12, 2018
Coalition Agreement Is Germany’s and Europe’s Best Bet
Jeromin Zettelmeyer and Jacob Funk Kirkegaard argue that there is reason to be optimistic that a government coalition of Merkel's Christian Democrats and the Social Democrats could work on reforms with French president Emmanuel Macron.
Feb 09, 2018
Fixing China's Financial Credit System
Hundreds of millions of Chinese citizens still use costly informal credit where they lack access to a formal financial system. Martin Chorzempa says that Chinese officials should work with private companies to improve the rules around sharing while protecting consumer data that will provide fair priced loans to Chinese people.
Feb 05, 2018
Trump's 2018 Trade Policy: What to Expect
Chad P. Bown cautions the Trump administration that its unconventional trade policies—such as imposing tariffs on steel and aluminum, and over intellectual property—could lead to conflict with some of the United States’ largest trading partners.
Feb 01, 2018
Talking Down the Dollar
Joseph E. Gagnon and Edwin M. Truman discuss the pros and cons of Treasury Secretary Steven Mnuchin’s comments perceived as seeking depreciation of the dollar.
Jan 30, 2018
Investor-State Dispute Settlement: Unfair to Whom?
Gary Clyde Hufbauer argues that the criticism of the procedure set up in trade agreements to settle disputes between multinational corporations and states in which they invest is largely unwarranted. There is room for improvements in its procedures and processes, however.
Jan 16, 2018
Is Venezuela Close to Defaulting?
Monica de Bolle argues that Venezuela is giving higher priority to paying its foreign creditors than to the Venezuelan people.
Nov 07, 2017
Initial Coin Offerings (ICOs) Are Valuable But Need Strong Regulations
Daniel Heller and Martin Chorzempa believe that policymakers need to create a regulatory framework for initial coin offerings.
Nov 06, 2017
Can the US Spend Like Denmark without Taxing Like It?
At a recent CNN town hall debate between Senators Bernie Sanders and Ted Cruz, Jacob Funk Kirkegaard questioned the validity of Senator Sanders’ policy proposals to spend like a Scandinavian country while only raising taxes on the wealthiest citizens. In this Peterson Perspectives interview, Kirkegaard discusses Denmark’s effective tax rate where middle class citizens are taxed nearly 50 percent of their income.
Oct 23, 2017
AIG Is No Longer Too Big To Fail
Nicolas Véron says that rescinding AIG’s status as “systemically important” will not lead to financial instability.
Oct 04, 2017
Prime Minister May's Offer on EU Citizens' Rights
Jacob Funk Kirkegaard says Prime Minister Theresa May’s offer to grant EU citizens certain rights in the United Kingdom does not go far enough.
Jun 26, 2017
China's Sovereign Credit Downgrade
Nicholas R. Lardy explains that the downgrade of China’s sovereign credit rating will have minimal economic impact.
May 26, 2017
Is Brazil Headed for Another Recession?
Monica de Bolle discusses Brazil’s latest political scandal that has sparked investor panic and thrown markets into turmoil.
May 23, 2017
The French Elections: Macron vs. Le Pen
Jacob Funk Kirkegaard and Nicolas Véron discuss the first round of France’s presidential election and its ramifications for the European Union.
Apr 25, 2017
Theresa May Calls Early Election in Britain
Jacob Funk Kirkegaard weighs in on UK Prime Minister Theresa May’s decision to hold a snap election to secure her position as leader of Britain’s Brexit negotiations.
Apr 19, 2017