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

The Legacy of M. Cherif Bassiouni

M. Cherif Bassiouni sadly passed away last week. Known as the “father of international criminal law” and a driving force behind the creation of international criminal tribunals, Bassiouni was tireless in his quest to bring justice to the victims of war crimes, crimes against humanity, and genocide in South Africa, Bosnia, Bahrain, and elsewhere.

| By Brian Hanson

Deep Dish: Who Will Help the Rohingya?

“Textbook ethnic cleansing” of the Muslim Rohingya minority continues in Western Myanmar. How do the internal politics of Myanmar, and it’s fragile democracy under Aung San Suu Kyi, explain the tepid response of the international community to this horrific attack on a forsaken people? Azeem Ibrahim, author of “The Rohingyas: Inside Myanmar’s Hidden Genocide,” joins Brian Hanson on this week’s Deep Dish.

| By Holly Copeland

Enhancing Communities through Public-Private Partnerships

When a community must address an issue that impacts the health, safety or quality of life for its neighbors, where is the best place to look for help? Is it the government or academic institutions? Perhaps it’s nonprofit organizations. Or maybe hope lies with local businesses.  Increasingly, for many issues that impact our world today, the answer is: all of the above.

Pages