This audio recording is revealing for various reasons, especially for what it tells us about how trade policy is made under the current administration. There's never been any shortage of cynicism in international commercial diplomacy, so nothing really shocking there. But two comments really give us some insights into Trump's thinking on trade policy and international economic affairs and the very severe limitations it is subject to. First of all he says the Japanese are so p...rotectionist and that is why they are "doing well". More and more I get the impression from listening to their sound bites that the Trump economics team still have their heads in the 1980s, which by the way, was about the last time anyone thought Japan was "doing well". After two decades of stagflation and an increasingly ageing population, Japan these days resembles little more than an above-ground cemetery. The second comment that Trump makes which is revealing is his plans to impose a 10% tax to mitigate the trade deficit, saying: "you go from losing money to breaking even in one year". This shows more than anything else that he thinks he's just running a giant business, with very little understanding of what the deficit really is, what caused it, what it means, and why it's not really a big problem systemically for the US economy. He just thinks his business is losing money and that it needs to be fixed as soon as possible. And because he has such an unshakable belief that he is always right about everything, I don't see much chance of anyone educating him differently. Prepare for a rocky few years in US foreign economic policy.
I saw the head of Uber Taiwan on the BBC this morning and he did a very good job not losing his cool and denouncing the Taiwanese government authorities as both protectionist and parochial!
Nice little info-graphic on regional supply chains!
A very interesting article on the race to the top of the global smartphone business!
Another blow for freedom of contract, especially if the State of NY can still sue property owners but lets AirBnB off the hook. If I own it, I should be able to rent it to whoever I want, for however long I want, for whatever price the market dictates.
Can't wait until National Geographic or 60 Minutes do their own report on this! But until then the WSJ has produced this revealing piece!
Another article that documents the vertical integration going on in the ICT industry, where internet companies that started out on the "data side" of the ecosystem have moved into the "infrastructure side".
Chang Seung Wha's farewell speech to the WTO. Well done to you sir! There's just no way to sugar-coat it, the US did a disservice to the whole system by blocking his reappointment, just like they did four years ago with their own AB Member Jennifer Hillman. What happened to the days when the US provided leadership to the organization? They seem long gone!
Great op-ed by President Obama that reminds us of the phenomenal changes that have taken place during his time in office as well as the importance of getting the balance right between regulation and laisser faire!
Talking last week with Australia's Ambassador to China, Her Excellency Ms Jan Adams about the opportunities provided by the new China Australia Free Trade Agreement CHAFTA
A nice piece of counter-culture analysis on the benefits of an open and liberal market economy, which includes openness to international trade! Thank you @decunningham2