This US survey examines (a) Tripling existing import taxes on Chinese steel and aluminum products would lead to measurably higher employment in the US steel industry over the next five years; (b) Tripling the tariffs would lead to measurably higher steel and aluminum prices for American producers and measurably higher finished-good prices for American consumers; (c) The gains for the American economy from tripling the tariffs would measurably outweigh the losses.
Keyword: China
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This US survey examines (a) Use of the renminbi in world trade, as a reserve currency, and/or for foreign bond denomination is likely to increase substantially relative to the dollar over the next ten years; (b) Ceteris paribus, a shift to a more multi-polar international monetary system would have substantial negative implications for the US economy
This US survey examines (a) Given the centrality of semiconductors to the manufacturing of many products, securing reliable supplies should be a key strategic objective of national policy; (b) Restrictions on exports of semiconductors and related high-tech equipment to China will substantially improve US technological leadership
This week's IGM European Economic Experts Panel Statements:
A) The average European is better off if Europe’s competition authorities let firms merge into European champions in their sectors, even it weakens competition.
B) If China and other countries use policies that create giant international firms, then the average European is better off if Europe's competition authorities let firms merge into European champions in their sectors, even it weakens competition.
This week's IGM European Economic Experts Panel Statements:
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
This week’s IGM Economic Experts Panel statement:
China’s growth model, specifically the unusually high investment rate and low consumption rate, is unsustainable.
This week’s IGM Economic Experts Panel statements:
A) Economic analysis can identify whether countries are using their exchange rates to benefit their own people at the expense of their trading partners’ welfare.
B) Bank of Japan monetary policies that result in a weaker yen make Americans generally worse off.
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