June 19, 2018 | By

Wait Just a Minute: Senior Fellow Phil Levy on Trade

Our new web series, Wait Just a Minute, asks experts to answer complex questions about global affairs in 60 seconds. In this episode, former White House economic adviser under George W. Bush and the Council’s former senior global economy fellow, answers questions in just 60 seconds about China’s trade practices, who wins in a trade war, and the likelihood of NAFTA surviving.

Wait Just a Minute: Senior Fellow Phil Levy on Trade

 

Explain free trade vs. fair trade.

Free trade is you've lowered trade barriers. Fair trade is you didn't like the outcome, and so you want to have somewhere to complain about it without sounding like a protectionist.

Does China play fair on trade?

China does a reasonable job of following the rules that are out there, but those aren't all the rules we'd like. So no, I think on the whole, they do not.

Is is possible to win a trade war?

No, it's not possible to win a trade war. It's the kind of thing where each side is going to end up doing damage to themselves and the other side.

Will NAFTA survive?

It's got a pretty good shot, I think. It hasn't died yet, despite the president's express desire to kill it. So I think there's hope. It ought to survive.

You down with TPP?

I think TPP would have been a great thing for the United States. I think it's hurting us that we're not involved in it. We're looking for leverage points against China. This would have been a great one.

What's your favorite acronym?

It's SPS, was sanitary and phytosanitary regulation. This is what really separates the trade geeks from everyone else.

About

The Chicago Council on Global Affairs is an independent, nonpartisan organization that provides insight – and influences the public discourse – on critical global issues. We convene leading global voices and conduct independent research to bring clarity and offer solutions to challenges and opportunities across the globe. The Council is committed to engaging the public and raising global awareness of issues that transcend borders and transform how people, business, and governments engage the world.

The Chicago Council on Global Affairs is an independent, nonpartisan organization. All statements of fact and expressions of opinion in blog posts are the sole responsibility of the individual author(s) and do not necessarily reflect the views of the Council.

Archive



| By Rana Foroohar, Brian Hanson

Deep Dish: Hard Truths about Big Tech and the US Economy

Facebook, Google, Amazon, and Apple are massive companies, commanding so much of the market that they are now being called monopolies. Rana Foroohar explains how these data-fueled tech behemoths are disrupting the US economy and American politics.



| By Derek Mitchell, Daniel Twining, Brian Hanson

Deep Dish: The Case for America to Promote Democracy Abroad

Democratic breakdown in Iraq and Afghanistan, as well as the resurgence of authoritarian leaders around the world, suggest that democracy promotion is a failed project. But the United States still has an essential role to play in promoting democratic institutions abroad, argue Ambassador Derek Mitchell and Daniel Twining.




Wait Just a Minute: Graeme Woods

Journalist Graeme Wood, author of The Way of the Strangers: Encounters With the Islamic State, takes a minute to discuss the difference between ISIS and Al Qaeda, and if ISIS has truly been defeated.




Wait Just a Minute: Dr. Alaa Murabit

Dr. Alaa Murabit, a UN High-Level Commissioner on Health Employment and Economic Growth, takes a minute to answer questions on gender equality, its role in global security, what part education plays in promoting gender equality, and what individuals can do to promote gender equality as well.