Tag Archives: U.S.

The Future of the Global Wine Industry

by Elliott Morss Introduction Over the last 30 years, dramatic changes in the wine industry have occured. From being almost completely domiciled in four European countries (France, Italy, Spain, and Germany), it has spread worldwide to include the US, Australia, … Continue reading

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More Unwise Trade Intervention Likely

by Michael Pettis Last week’s Senate bill on Chinese currency intervention predictably enough brought out all the same old arguments about international trade, and just as predictably has hardened the opposing positions in the debate. Unfortunately the difference between a … Continue reading

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College Dropouts And Unemployment, At What Cost?

Russia and South Korea now outrank the U.S. in terms of college graduation rate and the high U.S. dropout rate is costing billions per year. Continue reading

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Big in Japan

Comparisons of western economies to Japan seriously miss the point about what went wrong there in the 1980s. Except at a very superficial levels Japan’s imbalances before 1990 were very different from the imbalances from which Europe and the US suffer today, and the resolutions in each case are likely to be very different. Continue reading

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Mistaken Monetary Policy Lessons from Japan?

The global crisis of 2008-2009 has refocused attention on the lessons of Japan’s lost decade, with many suggesting that Europe and the US are heading the same direction. This makes a thorough understanding of the Japanese case an urgent matter. But this column argues that pushing the analogies too far is a mistake that could prolong the economic pain. Continue reading

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From Coal to Nuclear – A Look at the Numbers

The economics of increasing nuclear power and reducing coal seem quite doable. Of course, added safety costs based on a post-mortem of Japan may occur. Continue reading

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Currency Conflicts Come to Prominence Again

The financial crisis appeared to start a needed global currency rebalancing as the China/U.S. trade imbalance narrowed. That correction has reversed and currency battles are now stronger than ever. Continue reading

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The Great Debate©: Schäuble Speaks his Mind – Dirk Ehnts Responds

Those with a trade balance surplus want to solve imbalances by deflating economies with a trade deficit. German Minister of Finance, Wolfgang Schäuble, argues for this while Dierk Ehnts explains why that is destructive to the global economy. Continue reading

Posted in Business News and Analysis, Government, Great Debate©, International Economic data, Trade Data | Tagged , , , , , | 5 Comments

Did France Cause the Great Depression?

Both the U.S. and France started the deflationary ball rolling but by 1932 it was only France affecting money supply by hoarding gold. Continue reading

Posted in Federal Reserve, Studies | Tagged , , , , | 9 Comments

Plaza II is the Wrong Approach for Global Rebalancing

Currency revaluation is not the primary answer to China’s trade imbalances. Structural factors are more important. Continue reading

Posted in International Economic data, Studies, Trade Data | Tagged , , , , , , , , | 6 Comments