Word: tradings
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...Such sentiments raise the ugly specter of rising global protectionism. Economists have worried that governments around the world would throw up trade barriers in a quest to preserve jobs and industries, in turn undermining a global recovery. The Chinese press was quick to point out this danger as well. A commentary on the state-run news service Xinhua reminded readers that protectionism was a key cause of the Great Depression. "Smarter actions are required to prevent a repeat of that painful history," the commentary said. "The latest U.S. decision was not one of them." (See pictures of China's investments...
...Until now. A widening trade dispute threatens to ratchet up tension in the China-U.S. relationship, with potential consequences for the entire world economy. The spat began on Sept. 11, when the Obama Administration announced it will slap tariffs of as much as 35% on Chinese-made tires, effectively pricing them out of the low end of the American market. Two days later, China's Ministry of Commerce said it would start antidumping investigations against imports of some U.S. chicken products and auto parts. Though the ministry's announcement made no mention of the tire tariffs, the timing...
...Resolving the trade conflict, however, may not be easy. Both governments are stuck in the position of having to be sensitive to sentiment at home. With unemployment in the U.S. still increasing, the Obama Administration is under pressure to take more action to preserve and create American jobs. Beijing's leadership, though not elected, can also be surprisingly reactive to public opinion, and the days following Washington's tariff announcement have seen an outpouring of criticism of the U.S. decision in the Chinese press and on the blogosphere. "Americans are shameless," noted an Internet commentator. "They always blame others...
...speech wasn’t the grand oratory of progressive principles many conservatives feared. And it certainly wasn’t the Democratic equivalent of President Reagan’s 1988 back-to-school speech, which unabashedly preached the virtues of free enterprise, low taxes, and free trade...
...Arguments over the cap and trade system, as it is known, and especially its effectiveness compared to a carbon tax, have fizzed for years. Both mechanisms slap a price on emissions, and urge those affected to invest in more efficient uses of energy. Critics of taxes say that they're open to fluctuation and that certain industries can win exemptions, undermining a tax's efficacy. Opponents of cap and trade systems, meantime, level similar charges. This much is sure: while taxes might fix the short-term cost of emitting CO2, helping homes and businesses figure out how much to invest...