Dangerous currents advocating protectionism are alive and well on both sides of the Atlantic. A “Buy American” clause in the latest U.S. stimulus package may have been eased to avoid violation of bilateral trade agreements, but its protectionist intentions remain. But the European Union is in no position to lecture …
As the world continues to deal with the global economic downturn, Pascal Lamy, the Director-General of the World Trade Organization, publicly urged all nations to overcome protectionist instincts as they work to return growth to their national economies. Lamy made his remarks while speaking to the Lowy Institute for International …
Meeting with Canadian Prime Minister Stephen Harper yesterday, President Barack Obama emphasized their commitment to mutual security. Prime Minister Harper went so far as to recognize that “threats to the United States are threats to Canada.” While both men are right to recognize the need for a strong security alliance …
As destructive as we believe the economic stimulus bill that President Barack Obama signed Tuesday is, the Obama Administration could undo a significant portion of the legislation’s damage today, and this weekend. President Obama will travel to Ottawa today to meet with Canadian Prime Minister Stephen Harper. Also today, Secretary of …
Yesterday’s Wall Street Journal had a front-page story on soaring unemployment among China’s rural migrants. While official Chinese employment statistics are spotty, the gigantic figures being thrown around are no surprise. The Journal and other outlets emphasize the Communist Party’s overwhelming fear of political instability caused by job loss. This …
Professor of European Political Economy at the London School of Economics, Willem Buiter, writes at the Financial Times: I used to be optimistic about the capacity of our political leaders and central bankers to avoid the policy mistakes that could turn the current global recession into a deep and lasting …
Jay Van Andel Senior Trade Policy Analyst at Heritage Daniella Markheim comments on why the recently discovered “Buy American” provisions in the ‘stimulus’ bill will only hurt the American economy in the long run. Advocates of Buy American rules claim that limiting competition for U.S. government contracts to domestic firms will protect U.S. jobs and …
