After the President’s trade policy was blocked in the US Senate yesterday, there was a divide among analysts over just how serious a setback the vote was. But it is difficult to see how the trade agenda could now advance, and the sensitive timing of trade talks means that a delay could be fatal.
Last week, the battle
to gain trade promotion authority (TPA) began in earnest in Washington.
This week China took an unusually strong measure to goose its economy. It lowered
the amount of money that Chinese banks needed to hold in reserve. In theory, this should allow the banks to take those sequestered funds and use them for new loans, thereby stimulating the Chinese economy.
The big news of the morning was that the US economy created 295,000 jobs in February, pushing the unemployment rate down to 5.5 percent. Both numbers were better than expected, which seemed to paint a picture of an economy returning to normal after a long, chilly period of slow growth and painful joblessness.
Guest blogger Alex Pantich takes a look at how Russians are reacting to economic sanctions, a crashing currency, and falling oil revenues.
There is a raging debate about whether the President stretched or exceeded his executive powers, but let us set aside the legal and political questions for the moment and consider a (wonkish) economic one: How does the administration envision the demand for low-skilled labor?
Trade impasses between the United States and Japan are eminently predictable. They will continue until the Obama administration shows it has achieved domestic agreement on trade.
In this week of financial market turmoil, there was a notable bit of good news: the US federal budget deficit shrank
to 2.8 percent of GDP, its lowest level since 2007.
Are EU sanctions on Russia working? If goal is to annoy Russians and make symbolic gesture, then yes. Otherwise, no.
The New York Times is reporting a brewing political crisis in France. The Prime Minister is planning to dissolve the government in a battle over budgetary belt-tightening.
I recently returned from a conference in which a coauthor and I presented some research on clubbing seals to death. The case raises issues of morality, extraterritoriality, and the dangers of a global trading system adrift.
The economic crisis that once seemed poise to rip the euro zone apart more recently appears to have receded.
After Russia’s move into Crimea and the danger that its military involvement could spread further, there is the question of how to deter a Russian invasion.
This has been an eventful week in economic news. This morning, we got a first, early look at US economic growth in the fourth quarter of 2013—and it proved a pleasing sight.
Uri Dadush, senior associate at the Carnegie Endowment for International Peace, offers his analysis of an important subsequent event–the limited global trade deal that was agreed in Bali in December in a guest post for World of Cents.