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 Brian Hanson, Kori Schake, James Lindsay

Deep Dish: End of the Line with North Korea?

With news that North Korea may have the capability to launch a miniaturized nuclear weapon on an intercontinental ballistic missile, can the North Korea can be kicked any further down the road? In this summer bonus episode, Brian Hanson discusses with Kori Schake and Jim Lindsay, alums of the national security council and leading voices in foreign policy and national security.

Top 5 Deep Dish Podcasts of 2016-17

As part of the Council’s mission to provide insight and influence the public discourse, we created Deep Dish on Global Affairs, a podcast that goes beyond the headlines on critical global issues. With foreign policy and international relations in constant flux, Deep Dish brings together experts in politics, government, defense, finance, and wherever the news is happening to dig deep into current affairs.

| By Demetrius Amparan

If I Were Mayor

In a flash talk delivered at the 2017 Chicago Forum on Global Cities, poet Demetrius Amparan spoke about what he would do if he were mayor.

One More Question with Gideon Rachman

We asked Gideon Rachman, chief foreign affairs columnist at the Financial Times, for his thoughts about the shifting balance of global economic power between the East and the West. See what he said.

7 Summer Reads from the Council's Stage

Summer reading lists are about as ubiquitous this time of year as sunburns and cookouts, but not all of them exhibit a global affairs oeuvre. Here are seven great works featured in the 2016-17 Council program season that you can learn from, as well as videos of the authors speaking on the Council stage. 

One More Question with Ruchir Sharma

We asked Ruchir Sharma, Morgan Stanley's Chief Global Strategist, which country was best poised for economic growth and which country presented the greatest risk to the global economy. See what he said.

Top 5 "One More Question" Videos

The Council works hard to bring the brightest minds to Chicago to share their ideas on important global issues. With so much to discuss, it is sometimes difficult to fit all that there is to say on a subject into a single event. That's why we invited several of our guests to answer questions that may have gone unanswered. We’ve been releasing these brief interviews as part of our One More Question series. Discover our top five most popular episodes to date.

Pages