Trade War Part 1. Overview & China
|
|
- Eric Simpson
- 5 years ago
- Views:
Transcription
1 0 Trade War Part 1 Overview & China
2 By: Chuck Vollmer & Rick Amato
3 U.S. International Trade Since WWII 2
4 U.S. International Trade Since
5 4 U.S. International Trade In 2017 Top 5 Trading Partners Exports & Imports % of Grand Total Trade Top 5 Trade Deficits by Country Trade Deficit % of Grand Total Deficit China $635 16% China $375 47% Canada $582 15% Mexico $71 9% Mexico $558 14% Japan $69 9% Japan $204 5% Germany $64 8% Germany $172 4% Vietnam $38 5% Top 5 Total $2,150 55% Top 5 Total $617 78% All Others $1,738 45% All Others $179 22% Grand Total $3,888 Grand Total $796 $3.9 Trillion $0.8 Trillion
6 U.S. Goods Trade With China $375B 2018 $389B* $ Billions Trade Deficit $4.7 Trillion WTO Entry GDP Parity With USA * Trade deficit was $14B higher than January - May
7 U.S. Goods Trade With China 6
8 7 450 China Per Capita Income $ Billions Wages Increased 26-Fold GDP PPP $375B
9 8 Trade War Part 2 European Union
10 By: Chuck Vollmer & Rick Amato
11 U.S. Trade Deficit Last 4-Decades 10
12 Balance Of Trade Goods $Billions Consumer Goods ($404) Automotive ($201) Capital Goods ($107) Industrial Supplies ($43) Other Goods ($35) Foods, Feeds, & Beverages ($5) Services Financial Services $81 Charges for Intellectual Property $77 Travel $76 Other Business Services $50 Maintenance Repair Services $18 Telecom, Computer, Info Services $2 Government Goods and Services ($3) Transport ($13) Insurance Services ($33) Total Deficit ($572)
13 12 U.S. Goods Trade With European Union $ Billions Trade Deficit $2.0 Trillion EU 1993 * Trade deficit was $8.5B higher than January - May $160B* $151B
14 13 Total Trade With Leading EU Nations 2017 $ Billions Exports Imports Total Trade Deficit Surplus % of Total Germany $54 $118 $171 -$64-37% United Kingdom $56 $53 $109 $3 3% France $34 $49 $82 -$15-19% Italy $18 $50 $68 -$32-46% Netherlands $42 $18 $59 $24 40% Switzerland $22 $36 $58 -$14-25% Ireland $11 $49 $60 -$38-64% Belgium $30 $15 $45 $15 33% Spain $11 $16 $27 -$5-17%
15 14 U.S. Goods Trade With Germany $ Billions $80 $70 $60 $50 $40 $30 $20 $10 $- Trade Deficit $1.1 Trillion * Trade deficit was $3.0B higher than January - May $67B* $64B Recession End
16 U.S. Goods Trade With Germany 15
17 16 Trade War Part 3 NAFTA and Other Leading Nations
18 By: Chuck Vollmer & Rick Amato
19 U.S. Goods Trade With NAFTA 18
20 19 U.S. Goods Trade With Mexico $ Billions $80 $70 $60 $50 $40 $30 $20 $10 $0 -$10 Trade Deficit $1.1 Trillion NAFTA * Trade deficit was $0.49B higher than January - May $71.5B* $71B
21 U.S. Goods Trade With Mexico 20
22 21 U.S. Goods Trade With Canada $ Billions $90 $80 $70 $60 $50 $40 $30 $20 $10 $- Trade Deficit $1.1 Trillion NAFTA * Trade deficit was $3.7B lower than January - May 2017 $17B 2018 $13B*
23 U.S. Goods Trade With Canada 22
24 23 U.S. Goods Trade With Japan $ Billions $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 $- * Trade deficit was $0.95B higher than January - May 2017 Trade Deficit $2.1 Trillion 2018 $70B* $69B
25 U.S. Goods Trade With Japan 24
26 U.S. Goods Trade With Vietnam 2018 * Trade deficit was $39B* $0.25B higher than January - May 2017 $38B $ Billions Trade Deficit $0.24 Trillion
27 U.S. Goods Trade With Vietnam 26
28 27 U.S. Goods Trade With Russia $ Billions Trade Deficit $0.23 Trillion * Trade deficit was $0.23B higher than January - May $26B Crimea Annexation $10B 2018 $11B* 0-5
29 U.S. Goods Trade With Russia 28
30 29 Trade War Part 4 U.S.-China Trade/Cold War?
31 U.S.-China Trade/Cold War? 30
32 31 $ Billions U.S. Goods Trade With China Trade Deficit $4.7 Trillion WTO Entry GDP Parity With USA $375B 2018 $389B Est Fold Wage Increase
33 32 Tariffs, Quotas, Barriers China has extensive tariffs, quotas and barrier on U.S. goods. U.S exports to China was $130B (mainly hi-tech) versus $506B imports (mainly finished consumer goods). Trump Administration threatens tariffs on all $506B. Major risks/rewards: U.S. job losses: near-term up to -700,000, long term up to +5,720,000 (assuming $100K per worker on $572B deficit) Stock Markets: U.S. markets flat. China markets down 16%. Inflation: higher costs (esp. consumer electronics autos). Global Growth: slow and maybe recessionary. China responsible for 47% of U.S. trade deficits.
34 33 Intellectual Property (IP) Theft Co-Chairs: Jon Huntsman, Adm. Dennis Blair IP theft (cyber, counterfeits, software piracy and trade secrets theft) costs the American economy as much as $600 billion a year. China responsible for 50% of total IP and 87% of imported counterfeit goods to the USA. China responsible for 50% of U.S. IP theft.
35 34 Chinese Investment Priorities China Investment Corporation $1 Trillion Sovereign Wealth Fund 2018 One Belt One Road Initiative Digital Economy (500M Rural Poor) Energy Economy Banking Economic hegemony
36 35 Foreign Investment Risk Review Modernization Act (FIRRMA) FIRRMA expands the jurisdiction of the Committee on Foreign Investment of the U.S. (CFIUS) beyond its current focus on inbound foreign investment to include outbound foreign investment, particularly when joint ventures result in U.S. companies sharing national security-sensitive technology with their foreign partners, with emphasis on China.
37 36 FIRRMA Expanded Jurisdiction Bankruptcy and Distressed Debt Real Estate (national security-sensitive installations) Transactions Involving Critical Technology (start-up and breakthrough technologies) Transactions Involving Critical Infrastructure (including non-controlling passive investments and large class of foreign-backed projects)
38 37 FIRRMA Expanded Jurisdiction (Cont.) Sensitive Personal Data (concern over Chinese and Russian cyber hacks of government, corporate and personal data) Change in Rights (control or influence where the foreign person already has an investment stake) Transactions Intended to Evade CFIUS Review (e.g., complex investment vehicles)
39 38 Conclusion U.S.-China Trade War? Probably not. U.S.-China Cold War? Already started.
40 39 Free Trade versus Reciprocal Trade After WWII, when the US had 50% of the world s GDP, we had a moral obligation to be charitable and help rebuild Europe and Asia. Considering our nascent recovery from the economic crisis, shifting geopolitics, and the magnitude of U.S. debt, Americans can no longer afford to be economically naïve and have a reason to be cautious.
41 40 Reciprocity Jobenomics recommends a policy of reciprocity a policy in commercial dealings between countries that is based on mutual giving and receiving. The relationship between the U.S. and countries like Canada, Britain, and Australia would be rooted in free trade. The relationship between countries overly protectionist would be based on reciprocal measures, until that country amended its arbitrary practices.
Executive Summary. The Transatlantic Economy Annual Survey of Jobs, Trade and Investment between the United States and Europe
The Transatlantic Economy 2011 Annual Survey of Jobs, Trade and Investment between the United States and Europe Daniel S. Hamilton Daniel S. Hamilton and Joseph P. Quinlan and Joseph P. Quinlan Center
More informationTim Payne Senior Partner, Head of Asia Brunswick Group. Striking Patterns and Trends Impacting Global M&A
Tim Payne Senior Partner, Head of Asia Brunswick Group Striking Patterns and Trends Impacting Global M&A Financial 1 The convergence of business, society & politics has created a more complex environment
More informationAn Overview of World Goods and Services Trade
Appendix IV An Overview of World Goods and Services Trade An overview of the size and composition of U.S. and world trade is useful to provide perspective for the large U.S. trade and current account deficits
More informationISA RESEARCH BRIEFING
ISA RESEARCH BRIEFING The Leading Growth Markets for Exporters July 31, 2018 Without a doubt, these are worrying days for exporters. Whether it is a business that is counting on export markets for much
More informationHow Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services.
How Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services. In 2016 1 : The US exported $1.5 trillion in Goods and $750 billion in Services
More informationFinancial wealth of private households worldwide
Economic Research Financial wealth of private households worldwide Munich, October 217 Recovery in turbulent times Assets and liabilities of private households worldwide in EUR trillion and annualrate
More informationCANADA EUROPEAN UNION
THE EUROPEAN UNION S PROFILE Economic Indicators Gross domestic product (GDP) at purchasing power parity (PPP): US$20.3 trillion (2016) GDP per capita at PPP: US$39,600 (2016) Population: 511.5 million
More informationUK ECONOMY SITUATION & PROSPECTS
UK ECONOMY SITUATION & PROSPECTS 26 November 2013 Hermione Gough Counsellor Europe and Global Issues British Embassy Paris UNCLASSIFIED 1 The pace of recovery picked up further in Q3, with UK GDP expanding
More informationThe Outlook for Israel s Economy in Light of Current Global Developments
The Outlook for Israel s Economy in Light of Current Global Developments Dr. Leonardo Leiderman Professor of Economics, Tel-Aviv University and Chief Economic Advisor, Bank Hapoalim To be presented in
More informationNew in 2013: Greater emphasis on capital flows Refinements to EBA methodology Individual country assessments
As in 212: Stock-take: multilaterally consistent assessment of external sector policies of the largest economies Feeds into Article IVs Draws on External Balance Assessment (EBA) methodology/other Identifies
More informationClick here to advance to the next slide.
Click here to advance to the next slide. Chapter 10 Business in a Global Economy Section 10.1 The Global Marketplace Read to Learn Explain why the world has become a global economy. Explain why people
More informationChapter 2 International Flow of Funds
Chapter 2 International Flow of Funds 1. Recently, the U.S. experienced an annual balance of trade representing a. a. large surplus (exceeding $100 billion) b. small surplus c. level of zero d. deficit
More informationEconomic Stimulus Packages and Steel: A Summary
Economic Stimulus Packages and Steel: A Summary Steel Committee Meeting 8-9 June 2009 Sources of information on stimulus packages Questionnaire to Steel Committee members, full participants and observers
More informationIndia s International Trade & Investment
India s International Trade & Investment July 2017 1 Structure of Presentation 1 Indian Economy: A Snapshot 2 Merchandise Trade: A Perspective 3 Services Trade: Recent Trends 4 India s Investment Flows
More informationDEFICITS, TARIFFS, AND TRADE WARS. Andrew Greenland, PhD. Assistant Professor of Economics
DEFICITS, TARIFFS, AND TRADE WARS Andrew Greenland, PhD. Assistant Professor of Economics DEFICITS, TARIFFS, AND TRADE WARS Why countries trade. The drivers of global integration. Who wins and who loses
More informationCenter for Transatlantic Relations Johns Hopkins University Paul H. Nitze School of Advanced International Studies
executive summary Center for Transatlantic Relations Johns Hopkins University Paul H. Nitze School of Advanced International Studies Daniel S. Hamilton and Joseph P. Quinlan The Transatlantic Economy 2014
More informationThe Transatlantic Economy 2015: Why it Matters to the Carolinas
The Transatlantic Economy 2015: Why it Matters to the Carolinas Daniel Hamilton, Executive Director Center for Transatlantic Relations Johns Hopkins University SAIS Washington D.C. European Union Foreign
More informationStudy Questions. Lecture 1 Overview of the World Economy
Study Questions (with Answers) Page 1 of 5 (6) Study Questions Lecture 1 of the World Economy Part 1: Multiple Choice Select the best answer of those given. 1. How many countries are there in the world?
More informationUPDATE ON FISCAL STIMULUS AND FINANCIAL SECTOR MEASURES. April 26, 2009
UPDATE ON FISCAL STIMULUS AND FINANCIAL SECTOR MEASURES April 26, 2009 This note provides an update of information in the paper, The State of Public Finances: Outlook and Medium-Term Policies After the
More informationA short history of debt
A short history of debt In the words of the late Charles Kindleberger, debt/financial crises are a hardy perennial we have been here many times before. Over the past decade and a half the ratio of global
More informationTrade trends and trade policy developments. Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit
Trade trends and trade policy developments Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit The big picture UK earnings from exports of goods exceeded earnings from exports of
More informationThe illusion of low rates
The illusion of low rates By Jean Estin President, Estin & Co The 10-year UK treasury bonds rate is at 0.7% today 1. The 10-year US treasury bonds is at 1.6%. They have been continuously decreasing since
More informationEcon 340. Announcements. Overview of the World Economy. Lecture 1 Outline. Overview of the World Economy. Lecture 1 Overview of the World Economy
Announcements Econ 340 Lecture 1 We will start discussing news next week, on Monday Jan 15. You should be watching for international economic news. Lecture 2: Institutions 2 Lecture 1 Outline Elements
More informationProgress towards Strong, Sustainable and Balanced Growth. Figure 1: Recovery from Financial Crisis (100 = First Quarter of Real GDP Contraction)
Progress towards Strong, Sustainable and Balanced Growth Figure 1: Recovery from Financial Crisis (100 = First Quarter of Real GDP Contraction) Source: OECD May 2014 Forecast, Haver Analytics, Rogoff and
More informationNeil Foster, Robert Stehrer, Marcel Timmer, Gaaitzen de Vries. WIOD conference, april 2012 Groningen
Neil Foster, Robert Stehrer, Marcel Timmer, Gaaitzen de Vries WIOD conference, 24-26 april 2012 Groningen Local and global value chains (1 st & 2 nd unbundling) From made in [country] to: Made in the World
More informationThe Global Economy Part I
The Global Economy Part I We have global markets which make us extremely interdependent so that what goes on in individual countries is of consequence to us all. -George Soros International Trade The flow
More informationChapter 2 International Flow of Funds
Chapter 2 International Flow of Funds 1. Recently, the U.S. experienced an annual balance of trade representing a. a. large surplus (exceeding $100 billion) b. small surplus c. level of zero d. deficit
More informationStatistical annex. Sources and definitions
Statistical annex Sources and definitions Most of the statistics shown in these tables can be found as well in several other (paper or electronic) publications or references, as follows: the annual edition
More informationEconomic Outlook. Ottawa Chamber of Commerce/ Ottawa Business Journal: Mayor s Breakfast Series Ottawa, Ontario 27 April 2012.
Economic Outlook Ottawa Chamber of Commerce/ Ottawa Business Journal: Mayor s Breakfast Series Ottawa, Ontario 27 April 2012 Mark Carney Mark Carney Governor Agenda Three global forces The consequences
More informationRegional Economic Integration. References Griffin and Pustay, Chapter 10; Rutledge, Chapters 2 & 4
Regional Economic Integration References Griffin and Pustay, Chapter 10; Rutledge, Chapters 2 & 4 Fundamental issues» Drivers of regional economic integration» Stages of regional economic integration»
More informationThe Global Economic Environment. Chapter 2. Dr Inda Sukati Faculty of Management Universiti Teknologi Malaysia
The Global Economic Environment Chapter 2 Dr Inda Sukati Faculty of Management Universiti Teknologi Malaysia 1 The Global Economic Environment 2 Introduction This chapter includes: An overview of the world
More informationC W S S u m m i t. Dambisa Moyo 16 May 2012 London
2 0 1 2 C W S S u m m i t Dambisa Moyo 16 May 2012 London Table of Contents I Global Labour Market Picture II Six Labour Market Drivers III The Challenges Ahead 2 Global unemployment (millions) Unemployment
More informationNational Income & Business Cycles
National Income & Business Cycles accounting identities for the open economy the small open economy model what makes it small how the trade balance and exchange rate are determined how policies affect
More informationInvesting in Today s World with Thoughts of Tomorrow. Presented by: Jeff Matthias, CFA
Investing in Today s World with Thoughts of Tomorrow Presented by: Jeff Matthias, CFA Wisconsin Coalition of Annuitants May 11, 2018 Today s Key Takeaways Investor Inputs Market Recap Investment Outlook
More informationStudy Questions. Lecture 15 International Macroeconomics
Study Questions Page 1 of 5 Study Questions Lecture 15 International Macroeconomics Part 1: Multiple Choice Select the best answer of those given. 1. If the aggregate supply and demand curves in the figure
More informationPubPol 201. Module 1: International Trade Policy. Class 3 Outline. Definitions. Class 3 Outline. Definitions. Definitions. Class 3
PubPol 201 Module 1: International Trade Policy Class 3 Trade Deficits; 2 3 Definitions Balance of trade = Exports minus Imports Surplus if positive Deficit if negative Reported in 2 forms Balance of trade
More informationOlivier Blanchard Economic Counsellor and Director of the Research Department, International Monetary Fund
Centre for Economic Performance 21st Birthday Lecture Series The State of the World Economy Olivier Blanchard Economic Counsellor and Director of the Research Department, International Monetary Fund Lord
More informationThe Global Economic Crisis: Asia and the role of China Elliott School of International Affairs, George Washington University March 31, 2009
The Global Economic Crisis: Asia and the role of China Elliott School of International Affairs, George Washington University March 31, 29 Anoop Singh Asia and Pacific Department IMF 1 Five key questions
More informationThe Chilean economy: Institutional buildup and perspectives
The Chilean economy: Institutional buildup and perspectives Vittorio Corbo Governor 1 Outline 1. Introduction 2. Chile s economic reforms and institutional buildup 3. Performance of the Chilean economy
More informationChapter 3 Emergence of new sources for growth Section 1 Rise of the services industry and expansion of services trade
Chapter 3 Emergence of new sources for growth Key points of Part I, Chapter 3 While goods trade has slowed down around the world, services trade is steadily growing. The size of the global market is 1.2
More informationSecond estimate for the third quarter of 2008 EU27 current account deficit 39.5 bn euro 19.3 bn euro surplus on trade in services
STAT/09/12 22 January 2009 Second estimate for the third quarter of 20 EU27 current account deficit 39.5 bn euro 19.3 bn euro surplus on trade in According to the latest revisions1, the EU272 external
More informationForeign Direct Investment and Ease of Doing Business: Before, During and After the Global Crisis
Foreign Direct Investment and Ease of Doing Business: Before, During and After the Global Crisis Nihal Bayraktar Pennsylvania State University Harrisburg June 27, 2011 Introduction FDI has been seen as
More informationIrish Exporters Association Half Year 2013 Review -Export contraction impacting differing sectors -
Irish Exporters Association Half Year 2013 Review -Export contraction impacting differing sectors - -------------------------------- Published August 2013 0 Contents 1. Executive Summary - January to June
More informationOutlook for the Economy and Travel Outlook for the Global Economy and Travel
Outlook for the Economy and Travel Outlook for the Global Economy and Travel Adam Sacks President Tourism Economics @adam_sacks Adam Sacks President Tourism Economics @adam_sacks Outline The Outlook for
More informationSecond estimate for the first quarter of 2010 EU27 current account deficit 34.8 bn euro 10.8 bn euro surplus on trade in services
109/2010-22 July 2010 Second estimate for the first quarter of 2010 EU27 current account deficit 34.8 bn euro 10.8 bn euro surplus on trade in According to the latest revisions 1, the EU27 2 external current
More informationImports. Exports. T135 Figure 18-1 U.S. Exports and Imports as Ratios of GDP, Ratio to GDP
T135 Figure 18-1 U.S. Exports and Imports as Ratios of GDP, 1929 1998 0.14 0.12 Imports 0.10 Ratio to GDP 0.08 0.06 Exports 0.04 0.02 0.00 1930 1940 1950 1960 1970 1980 1990 1998 T136 Table 18-1 Ratios
More informationAir travel markets over the next two decades
Air travel markets over the next two decades October 2016 Brian Pearce Chief Economist, IATA We ve enjoyed a long period of above-trend air travel growth 30% Growth in worldwide RPKs 25% 20% 15% 7 years
More informationUK Trade in Numbers. February 2019
UK Trade in Numbers February 2019 Disclaimer The figures used in this pocketbook are the latest at the time of publication. We include figures from monthly and quarterly publications, such as ONS Balance
More informationAmerican Chamber of Commerce to the European Union (AmCham EU)
EXECUTIVE SUMMARY CENTER FOR TRANSATLANTIC RELATIONS JOHNS HOPKINS UNIVERSITY PAUL H. NITZE SCHOOL OF ADVANCED INTERNATIONAL STUDIES DANIEL S. HAMILTON AND JOSEPH P. QUINLAN THE TRANSATLANTIC ECONOMY 2016
More informationPubPol 201. Module 1: International Trade Policy. Class 3 Trade Deficits; Currency Manipulation
PubPol 201 Module 1: International Trade Policy Class 3 Trade Deficits; Currency Manipulation Class 3 Outline Trade Deficits; Currency Manipulation Trade deficits Definitions What they do and do not mean
More informationEconomic Outlook of Japan Dark Clouds Ahead Uncertainty in the Age of the US-China New Cold War
Economic Outlook of Japan Dark Clouds Ahead Uncertainty in the Age of the US-China New Cold War Conference of Business Economists November 8-9, 2018 Masaharu (Max) Takenaka Professor of Economics, Ryukoku
More informationand Ensuing Retaliatory Measures from other Countries Note: Views expressed in this presentation are those of the presenter
US Trade Actions and Ensuing Retaliatory Measures from other Countries Linda Zuehlke, Global import Manager Rockwell Automation September 28, 2018 PUBLIC Note: Views expressed in this presentation are
More informationIsrael through the Global Crisis: Do Innovations Help?
Israel through the Global Crisis: Do Innovations Help? Prof. Zvi Eckstein Dean, School of Economics, IDC Herzliya 24 March 2014 1 Outline The Macro Picture Innovations and Start Ups 2 Growth Rates - Israel,
More informationGlobal growth weakening as some risks materialise
OECD INTERIM ECONOMIC OUTLOOK Global growth weakening as some risks materialise 6 March 2019 Laurence Boone OECD Chief Economist http://www.oecd.org/eco/outlook/economic-outlook/ ECOSCOPE blog: oecdecoscope.wordpress.com
More informationCapital Access Index 2006 Gauging Entrepreneurial Access to Capital
Capital Access Index 2006 Gauging Entrepreneurial Access to Capital Max = 10 9.0 Hong Kong 8.5 8.0 7.5 7.0 6.5 6.0 5.5 5.0 4.5 40 Source: Milken Institute United Kingdom U.S. India China Brazil Russia
More informationChina s Overseas Direct Investment (ODI): Current situation and future outlook
China s Overseas Direct Investment (ODI): Current situation and future outlook New York Stock Exchange (NYSE) Dr. Qin Xiao Chairman, the Boyuan Foundation January 7, 2015 Agenda A. China s ODI: High Growth
More informationFinancial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated)
Company Name: Stock exchange listed on: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2018 [J-GAAP] (Consolidated) Kintetsu World Express, Inc. (KWE) Tokyo Stock Exchange
More informationThe Results of Global Goods and Services Trade Development in 2017
Alexander PAKHOMOV 1 Knyaz BAGDASARYAN 2 The Results of Global Goods and Services Trade Development in 2017 According to the latest projections released by the WTO, this year the global trade growth rate
More informationHamid Rashid, Ph.D. Chief Global Economic Monitoring Unit Development Policy Analysis Division UNDESA, New York
Hamid Rashid, Ph.D. Chief Global Economic Monitoring Unit Development Policy Analysis Division UNDESA, New York 1 Global macroeconomic trends Major headwinds Risks and uncertainties Policy questions and
More informationTurkey s Saving Deficit Issue From an Institutional Perspective
Turkey s Saving Deficit Issue From an Institutional Perspective Engin KURUN, Ph.D CEO, Ziraat Asset Management Oct. 25th, 2011 - Istanbul 1 PRESENTATION Household and Institutional Savings Institutional
More informationInsolvency forecasts. Economic Research August 2017
Insolvency forecasts Economic Research August 2017 Summary We present our new insolvency forecasting model which offers a broader scope of macroeconomic developments to better predict insolvency developments.
More informationFAQ: Forces in the Global Market
Question 1: How did the European Union evolve, and how is it evolving now? Answer 1: The evolution of trade agreements within Europe, commencing with the Treaty of Rome, was a methodical process encompassing
More informationEUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA. Delegation of the European Union to the Republic of Korea
EUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA 2016 Delegation of the European Union to the Republic of Korea 16 th Floor, S-tower, 82 Saemunan-ro, Jongno-gu, Seoul, Korea
More informationIrish Economy and Growth Legal Framework for Growth and Jobs High Level Workshop, Sofia
Irish Economy and Growth Legal Framework for Growth and Jobs High Level Workshop, Sofia Diarmaid Smyth, Central Bank of Ireland 18 June 2015 Agenda 1 Background to Irish economic performance 2 Economic
More informationDoing Business in China. Tuesday, May 3, :00 PM - 5:15 PM
Doing Business in China Tuesday, May 3, 2011 4:00 PM - 5:15 PM The world s second-largest economy China at a glance, 2010 GDP Nominal PPP Growth rate Per capita US$5.745 US$9.872 Value 10.3% US$7,400 trillion
More informationWorld Economy: Prospects and Risks Masahiro Kawai Graduate School of Public Policy Univ. of Tokyo
World Economy: Prospects and Risks Masahiro Kawai Graduate School of Public Policy Univ. of Tokyo Seoul 13 June 2017 Prospects of the World Economy The world economy is growing in 2017 The US Fed continues
More informationMonetary Integration
Monetary Integration By Michael Möhnle Table of Contents 1. 6-Stages of Economic Integration 2. International Monetary Integration - Bretton Woods 3. European Monetary Integration 4. European (Economic
More informationSession 11. Fiscal Policy
Session 11. Fiscal Policy Government size Budget balances Fiscal Policy over the business cycle Debt and sustainability Understanding Fiscal Policy: Government size Government size varies across countries.
More informationThe Economics of Public Health Care Reform in Advanced and Emerging Economies
The Economics of Public Health Care Reform in Advanced and Emerging Economies Benedict Clements Fiscal Affairs Department, IMF November 2012 This presentation represents the views of the author and should
More informationLecture 1b. The open economy. The international flows of capital and goods, balance of payments and exchange rates.
Lecture 1b. The open economy. The international flows of capital and goods, balance of payments and exchange rates. Carlos Llano (P) & Nuria Gallego (TA) References: these slides have been developed based
More informationGlobal Helicopter Forecast
Global Helicopter Forecast C&P untapped demand is rising Key world economies are still underequipped TOP 10 Countries in 2016 ( H/C fleet in service) U.S.A. Russia Canada Brazil Australia United Kingdom
More informationEmerging markets the equities perspective. Scott Berg, T. Rowe Price
Emerging markets the equities perspective Scott Berg, T. Rowe Price Audience voting about to begin Proudly supported by our Gold Industry Partner Question What is your fund's weight in Emerging Markets?
More informationWorld Geographic Shares
Panel Sponsored by World Geographic Shares North America South America Europe Africa Asia Australia / N.Z. 18% 13% 7% 22% 33% 6% World Population Shares, 2002 North America South America Europe Africa
More informationSession 16. Review Session
Session 16. Review Session The long run [Fundamentals] Output, saving, and investment Money and inflation Economic growth Labor markets The short run [Business cycles] What are the causes business cycles?
More informationPre-Hearing Statement of Linda M. Dempsey, Vice President, International Economic Affairs, National Association of Manufacturers
Pre-Hearing Statement of Linda M. Dempsey, Vice President, International Economic Affairs, National Association of Manufacturers Before the U.S. International Trade Commission Hearing on Investigation
More informationDonald Trump s Trade Policies
Donald Trump s Trade Policies Alan V. Deardorff For brown-bag discussion Ford School April 4, 2017 2 Trump s Trade Policies Trade staff TPP NAFTA Other FTAs Factory location Border tax adjustment Exchange
More informationLecture 13 International Trade: Economics 181 Foreign Direct Investment (FDI) and Multinational Corporations (MNCs)
Lecture 13 International Trade: Economics 181 Foreign Direct Investment (FDI) and Multinational Corporations (MNCs) REMEMBER: Midterm NEXT TUESDAY. Office hours next week: Monday, 12 to 2 for Ann Harrison
More informationSecond Quarter Trading Update 9 July 2010
Second Quarter Trading Update 9 July 2010 Michael Page International Second Quarter Trading Update 2010 2 Group gross profit Constant Group gross profit m m Reported exchange 2010 vs 2009 111.5 83.8 +33.1%
More informationEconomic Update. Don Bruce Research Professor Boyd Center for Business and Economic Research. January 2019
Economic Update Don Bruce Research Professor Boyd Center for Business and Economic Research January 2019 January 2019 http://cber.haslam.utk.edu/erg/erg2019.pdf http://cber.haslam.utk.edu/ 2 National Economy
More informationGlobal Consumer Confidence
Global Consumer Confidence The Conference Board Global Consumer Confidence Survey is conducted in collaboration with Nielsen 4TH QUARTER 2017 RESULTS CONTENTS Global Highlights Asia-Pacific Africa and
More informationSKEMA BUSINESS SCHOOL Global risk and the mounting wealth gap Michel Henry Bouchet
SKEMA BUSINESS SCHOOL Global risk and the mounting wealth gap Michel Henry Bouchet MYTH = GLOBALIZATION GENERATES GROWING ECONOMIC WEALTH AND WELL-BEING FOR ALL Fact: Economic growth boils down to rising
More informationPMITM. The world s leading economic indicator
PMITM The world s leading economic indicator The Purchasing Managers IndexTM (PMITM) is based on monthly surveys of carefully selected companies representing major and developing economies worldwide. KEY
More informationThere are many different types of economic systems but we going to focus on three:
Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. There are many different types of economic systems but
More informationCEOs Less Optimistic about Global Economy for 2015
Press Release Date 22 January 2014 Contact Vu Thi Thu Nguyet Tel: (04) 3946 2246, Ext. 4690; Mobile: 0947 093 998 E-mail: vu.thi.thu.nguyet@vn.pwc.com Pages 6 CEOs Less Optimistic about Global Economy
More informationJeopardy. Trade Currency Int l Bus. Barriers. World Business Q$100 Q$100 Q$100 Q$100 Q$100 Q$200 Q$200 Q$200 Q$200 Q$200 Q$300 Q$300 Q$300 Q$300 Q$300
Jeopardy Trade Currency Int l Bus. Barriers World Business Q$100 Q$100 Q$100 Q$100 Q$100 Q$200 Q$200 Q$200 Q$200 Q$200 Q$300 Q$300 Q$300 Q$300 Q$300 Q$400 Q$400 Q$400 Q$400 Q$400 Q$500 Q$500 Q$500 Q$500
More information1st Quarter Revenue. April 22, 2010
1st Quarter Revenue April 22, 2010 Disclaimer This presentation contains forward looking statements. The use of the words "aim(s)," "expect(s)," "feel(s)," "will," "may," "believe(s)," "anticipate(s)"
More informationI. INTRODUCTION TO THE US ECONOMY
I. INTRODUCTION TO THE US ECONOMY The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and
More informationForeign Trade and Capital Exports
Foreign Trade and Capital Exports Foreign trade Overall figures. For a long time Hungary has been a small, open, yet foreign trade sensitive country and, as a consequence, a vulnerable economy. Its GDP
More informationProgress Towards Strong, Sustainable, and Balanced Growth. Figure 1: Recovery From Financial Crisis (100 = First Quarter of Real GDP contraction)
Progress Towards Strong, Sustainable, and Balanced Growth Figure 1: Recovery From Financial Crisis ( = First Quarter of Real GDP contraction) 13 125 196-26 AE Recessions' Range*** 196-26 AE Recessions**
More informationSPANISH EXTERNAL SECTOR AND COMPETITIVENESS: SOME HIGHLIGHTS
SPANISH EXTERNAL SECTOR AND COMPETITIVENESS: SOME HIGHLIGHTS Summary Spain has significantly increased its trade openness in the last two decades Despite the global crisis and increased competition from
More informationU.S. Chamber of Commerce Economic Outlook
U.S. Chamber of Commerce Economic Outlook December 211 Economic Policy Division Real GDP Outlook Percent Change, Annual Rate 2 1 1 - -1 197 197 198 198 199 199 2 2 21 U.S. GDP Actual and Potential Quarterly,
More informationJapan, the US and TPP-11: Where do we go from here?
Japan, the US and TPP-11: Where do we go from here? Masahiro Kawai, PhD Economic Research Institute for Northeast Asia and Graduate School of Public Policy, Univ. of Tokyo "Japan in 2019: A Look at the
More informationCanada-EU Trade Agreement: Inching towards Implementation
Canada-EU Trade Agreement: Inching towards Implementation Dr. Robert Finbow, Professor of Political Science Deputy Director, Jean Monnet European Union Centre of Excellence Dalhousie University Prepared
More information2013Q3 Scissors and Similar Articles Produced by IAR Team Focus Technology Co., Ltd.
2013Q3 Scissors and Similar Articles 2013.10 Produced by IAR Team Focus Technology Co., Ltd. Contents 1. China Scissors and Similar Articles Main Original Places of Exported Goods from Jan. to June in
More informationInternational Economics questions Part II
International Economics questions Part II A country would justify erecting trade barriers, such as tariffs or quotas, to a. make goods cheaper b. expand their markets c. protect domestic jobs d. stimulate
More informationAppendix A Gravity Model Assessment of the Impact of WTO Accession on Russian Trade
Appendix A Gravity Model Assessment of the Impact of WTO Accession on Russian Trade To assess the quantitative impact of WTO accession on Russian trade, we draw on estimates for merchandise trade between
More informationInternational Statistical Release
International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org). Worldwide Regulated Open-ended Fund Assets and Flows Trends
More informationNovember 26, Re: USTR ; Request for Comments on Negotiating Objectives for a U.S.-Japan Trade Agreement
Linda Dempsey Vice President International Economic Affairs Filed via www.regulations.gov Mr. Edward Gresser Chair of the Trade Policy Staff Committee Office of the U.S. Trade Representative 600 17th Street,
More informationGlobal Trade Flow Index
Supported by: Global Trade Flow Index Q Roy Lenders AGENDA Executive Summary Index Impact of Japan s Tsunami in Q Impact of E.coli food crisis in Q Preview Window for Q3 forecast of China s trade Appendix
More informationThe euro area in a globalized economy: An ESM perspective
The euro area in a globalized economy: An ESM perspective Rolf Strauch, Chief Economist, Member of the Management Board 3 rd Annual BBVA European Debt Conference New York, 4 October 217 The euro area:
More information