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    Argentina: Cristina Ramps Up Protectionism

    Milton Friedman once said that “there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.” For most people in the world, this is a convincing argument. Not, … More

    Free Markets Are Good for China—and Us, Too

    Is open trade and investment good for China but bad for the U.S.? The Heritage Foundation’s China Global Investment Tracker has just been updated. Through June 30, it shows over $60 billion in Chinese investment in Latin America. This worries some people. They think that China is gaining economic benefits … More

    Top 10 Reads: July 13, 2011

    Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Economy Needs Tax Reform, Not Tax Hikes – J.D. Foster Paul Ryan Schools Sebelius at Hearing … Ouch! – Kathryn Nix Republicans Split on Trade Tactics – Vicki Needham NAT GAS … More

    Federal Spending and the Trade Deficit

    In 1987, President Ronald Reagan explained the relationship between federal spending and the U.S. trade deficit: “Here in the United States, we must restrain government spending. Our trade deficit in goods and services reflects that, over the past several years, we have spent more than we have produced—and we have … More

    Smoot–Hawley Anniversary Serves as Reminder of Protectionism's Damage

    Today marks the 81st anniversary of the passage of the Smoot–Hawley Tariff Act. Actor and economist Ben Stein famously explained this legislation in Ferris Bueller’s Day Off, the classic John Hughes movie that was released 25 years ago this month: In 1930, the Republican-controlled House of Representatives, in an effort … More

    Monthly Trade Statistics Report: Misleading and Dangerous

    The U.S. Commerce Department today announced that the trade deficit for April was $43.7 billion. This number is misleading because it implies a “deficit” in terms of dollars leaving the country, which is not the case. For example, the trade deficit numbers do not include the billions of dollars foreigners … More

    Trade Deficit: Made in the USA?

    The U.S. Bureau of Economic Analysis just announced that the trade deficit for March increased to $48.2 billion. The federal budget deficit plays a major role in creating U.S. trade deficits. When the government sells Treasury bonds to finance the budget deficit, it competes with U.S. exporters and private borrowers … More

    Political Leaders' Latest Scheme: Big Taxes on U.S. Exports

    Several U.S. political leaders have recently reiterated their desire to punish countries that undervalue their currencies. News flash: Since June 7, 2010, the value of the U.S. dollar has fallen 17.3 percent. If the United States gives countries a green light to designate low currency rates as an unfair trade … More

    Donald Trump Has A Lot to Learn About China

    This is how Donald Trump recently described China: “They’re making all our products. They’re taking all our jobs. And then they loan the money back and we pay them interest. It’s an amazing phenomenon.” A strong statement, but only one-third of it is true. China is not making all of … More

    KORUS Trade Pact Keeps Pressure on North Korea

    By further cementing the positive relationship between South Korea and the United States, the pending South Korea–United States (KORUS) free trade agreement will further weaken the oppressive North Korean regime’s strategic position and help disabuse the regime’s leaders of any hopes they might have had of flagging U.S. support for … More