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The failure of the establishment of both parties in the USA to take action in the face of the loss of 5.6 million jobs in the last decade, with $4.3 trillion in trade imbalances. An issue which resonates with voters in the US and could lead to a fundamental realignent of American attitudes to globalization and free trade. The feeling that the free-trade deck is stacked against the USA by Asian countries. China's efforts to keep the yuan dollar exchange rate at levels that favor exports. China's accumulation of over $3 trillion in dollar reserves that are parked mostly in Treasury's that keep U.S. interests low. Distortons in the global economy from the failure to rebalance the world economy hurts China and the U.S.
Grouped Articles
Wall Street Journal 10/04/2011
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/2010
New York Times 09/30/2010
Wall Street Journal 10/02/2010
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/2015
What’s Our Duty to the People Globalization Leaves Behind?
New York Times 01/26/2016
A study by Prof. Petri of Brandeis University, shows economic output going up by 0.4% by 2025 or $77 billion for the U.S. as a result of the TPP agreement. Biologic drugs, with long term patent protection, software engineering services, high tech industry are the winners, losers are the Detroit auto industry facing higher imports, light manufacturing in textiles and paper, and some heavy manufacturing sectors. Douglas Irwin of Datmouth and other experts say it is not clear how much of the benefit will affect consumers and businesses in the U.S. Most of the tariff cut gains are already made and import duties as a percentage of total imports are down to 1.4% today. Experts say 4/5th of the benefits for the U.S. are not from tariff cuts but from new rules for trade in services, and new rules for investment and commerce. The agreement brings together Pacific area countries, including Canada, Australia, New Zealand, Chile, and Japan, Malaysia, Singapore and Vietnam. Agriculture is protected in Canada especially in Quebec, and in Japan, which means tough negotiations to open up this sector. Politically the TPP is a response by the U.S. and Japan to the Infrastructure Investment Bank set up by China with support from Europe and India.
Grouped Articles
Pacific Trade Deal Likely to Have Narrow Reach
Wall Street Journal 08/01/2015
Auto-Parts Dispute Taps the Brakes on Pacific Trade Deal
Wall Street Journal 09/04/2015
Why You May Soon See More Goods Labeled ‘Made in Vietnam’
Wall Street Journal 10/19/2015
Utah Senator, Crucial Ally for the Pacific Rim Trade Deal, Is Now Its Main Hurdle
New York Times 11/12/2015
McConnell warns that trade deal can’t pass Congress before 2016 elections - The Washington Post
Washington Post 12/11/2015
Trans-Pacific Trade Pact Would Lift U.S. Incomes, but Not Jobs Overall, Study Says
New York Times 01/25/2016
VW Audi decided to use Mexico instead of the U.S. state of Tennessee for a $1.3 billion manufacturing plant investment in 2015, not just because of low manufacturing cost, but also because it can export more easily from Mexico. The U.S. has fewer free trade agreements than Mexico.
Grouped Articles
Why Auto Makers Are Building New Factories in Mexico, not the U.S.
Wall Street Journal 03/18/2015
Mexican Auto Production Sets Record in April
Wall Street Journal 05/07/2015
Wariness as Auto Industry Eyes Mexico for Growth
New York Times 07/22/2015
Ford to More Than Double Mexico Production Capacity in 2018
Wall Street Journal 02/08/2016
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Free Trade Loses Political Favor
Wall Street Journal 03/10/2016
Grouped Articles
Concessions Foreshadow a Tough Year for Unions
Wall Street Journal 01/04/2009
Unions Suffer Latest Defeat in Midwest With Signing of Wisconsin Measure
New York Times 03/09/2015
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Wall Street Journal 01/04/2011
Public-Worker Unions Steel for Budget Fights
Wall Street Journal 02/14/2011
Wall Street Journal 03/04/2011
Grouped Articles
House Backs Workers Aid on Heels of Trade Bill
Wall Street Journal 06/26/2015
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
More Wealth, More Jobs, but Not for Everyone: What Fuels the Backlash on Trade
The New York Times 09/28/2016
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
Grouped Articles
Lawmakers Introduce ‘Fast Track’ Trade Bill, Triggering Democratic Discord
Wall Street Journal 04/17/2015
TPP: Momentum on Trade Deal Bolsters U.S., Japan Efforts to Counter China
Wall Street Journal 04/17/2015
Wall Street Journal 04/17/2015
Deal Reached on Fast-Track Authority for Obama on Trade Accord
New York Times 04/16/2015
Obama Tries Tough Sale of TPP Trade Deal to Fellow Democrats
Wall Street Journal 04/18/2015
Obama Promotes Benefits of Trade Deals to Workers and Smaller Businesses
New York Times 02/26/2015
Zoellick says the U.S. should provide leadership in economic and trade policies to revive growth in the global economy.
Grouped Articles
Obama to Assert Unilateral Agenda
Wall Street Journal 01/27/2014
In Second Term, Obama Is Seen as Using âHidden Handâ Approach
New York Times 07/15/2013
Obama Promotes Benefits of Trade Deals to Workers and Smaller Businesses
New York Times 02/26/2015
Robert Zoellick: A New U.S. International Economic Strategy
Wall Street Journal 02/05/2013
The New York Times 09/16/2016
World Trade Set For Slowest Yearly Growth Since Global Financial Crisis
WSJ 09/27/2016
Grouped Articles
Unions Suffer Latest Defeat in Midwest With Signing of Wisconsin Measure
New York Times 03/09/2015
Unions Declare Partial Victory Against Obama’s Pacific Trade Deal
Wall Street Journal 06/15/2015
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Trump era confronts organized labor with gravest crisis in decades
Washington Post 12/09/2016
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
Grouped Articles
Does America Need Manufacturing?
New York Times 08/24/2011
Andy Grove: How America Can Create Jobs
BusinessWeek 07/01/2010
Wall Street Journal 10/02/2010
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
A part-timer boom, or blip? - The Washington Post
Washington Post 07/16/2014
Why Manufacturing Still Counts in the U.S. Economy
Wall Street Journal 01/14/2015
Grouped Articles
The Trans-Pacific Partnership, Explained
09/23/2016
More Wealth, More Jobs, but Not for Everyone: What Fuels the Backlash on Trade
The New York Times 09/28/2016
The New York Times 11/08/2016
Donald Trump Poised to Put Pressure on Nafta
WSJ 11/21/2016
Inside Donald Trump’s Economic Team, Two Very Different Views
WSJ 11/21/2016
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
Grouped Articles
Germany’s Global Trade Surplus Hits Record in 2016
WSJ 02/09/2017
China Takes Heat on Trade, but Germany’s Power Continues to Grow
WSJ 03/05/2017
Merkel and Trump begin key talks at White House - BBC News
BBC News 03/17/2017
Germany to take legal action if Trump taxes imports | Business | DW.COM | 17.03.2017
DW.COM 03/17/2017
U.S. Breaks With Allies Over Trade Issues Amid Trump’s ‘America First’ Vows
The New York Times 03/18/2017
Germany Reacts to Merkel-Trump Visit: ‘Could Have Been a Lot Worse’
The New York Times 03/18/2017
Three American researchers have completed a study on the impact of U.S. trade in the decade 2000-2011 with China, a period of exceptionally high growth of about 12% in China and a surge in imports into the U.S. The study shows counties in the 75th percentile in import levels experienced a surge in unemployment and government payments to support the unemployed. Nobel Prize winner Michael Spence points out this was an exceptional period and no theory in textbooks can account for the changes taking place because the growth rate in China was unprecedented.
Grouped Articles
Tallying the Toll of U.S.-China Trade
Wall Street Journal 09/27/2011
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/2010
Wall Street Journal 10/02/2010
In Tepid Wage Growth, a Potent Sign of a Still-Fragile Economy
New York Times 05/05/2014
U.S. Trade Gap Widens on Surging Imports
Wall Street Journal 05/06/2015
Campaign Season’s Anti-China Tone Is Likely to Cloud Meeting With Obama
New York Times 03/30/2016
Japan uses China and Thailand as part of its supply chain. Mexico has made gains under NAFTA it does not want to lose with large imports of cheap Chinese auto parts. The U.S. auto industry is somewhere in the middle and the UAW trade union wants to preserve American jobs. The different interests of Canada, Mexico, Japan and the U.S. make it harger to negotiate aspects of the ATT related to the auto industry. The auto industry in the U.S. is not a significant beneficiary from passing of the TPP.
Grouped Articles
Auto-Parts Dispute Taps the Brakes on Pacific Trade Deal
Wall Street Journal 09/04/2015
McConnell warns that trade deal can’t pass Congress before 2016 elections - The Washington Post
Washington Post 12/11/2015
Ford to More Than Double Mexico Production Capacity in 2018
Wall Street Journal 02/08/2016
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Donald Trump Lays Out Protectionist Views in Trade Speech
WSJ 06/28/2016
What the New GOP Means for Wall Street
WSJ 07/19/2016
Grouped Articles
What’s behind the revolt against global integration? - The Washington Post
Washington Post 04/11/2016
Donald Trump Lays Out Protectionist Views in Trade Speech
WSJ 06/28/2016
What the New GOP Means for Wall Street
WSJ 07/19/2016
More Wealth, More Jobs, but Not for Everyone: What Fuels the Backlash on Trade
The New York Times 09/28/2016
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
Grouped Articles
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
Donald Trump’s Recent Policy Reversals Reflect Business Influence
WSJ 04/14/2017
Why Donald Trump Decided to Back Off Nafta Threat
WSJ 04/27/2017
Trump Sends Nafta Renegotiation Notice to Congress
The New York Times 05/18/2017
For Amazon, Now Comes the Hard Part
WSJ 06/18/2017
Canada’s Trump Strategy: Go Around Him
The New York Times 06/22/2017
Discussion topics between Obama, Harper and Nieto in Toluca, Mexico, include Trans Pacific Partnership (TPP), Keystone pipeline, immigration and trade issues.
Grouped Articles
'Three Amigos' Outline Trade Goals at Talks
Wall Street Journal 02/20/2014
In Mexico Meeting, a Show of Friendship With Few Results on Immigration and Trade
New York Times 02/19/2014
House Passes Bill to Approve Keystone XL Pipeline
Wall Street Journal 11/14/2014
Transcript: Obama’s immigration speech - The Washington Post
Washington Post 11/21/2014
Obama Doubts and Lower Gas Prices Cloud Keystone Future
Wall Street Journal 12/28/2014
Obama Threatens to Veto Keystone Pipeline Approval
Wall Street Journal 01/07/2015
Grouped Articles
Mexico, U.S. Leaders Try To Deepen Economic Ties
Wall Street Journal 05/03/2013
Mexico’s economy: Making the desert bloom
Economist 08/27/2011
'Three Amigos' Outline Trade Goals at Talks
Wall Street Journal 02/20/2014
In Mexico Meeting, a Show of Friendship With Few Results on Immigration and Trade
New York Times 02/19/2014
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
How Mexico Creates American Jobs
Wall Street Journal 03/21/2012
Sanders, Trump, in the U.S., Marie Le Pen in France, and Brexiters in England appeal to white working class which has not benefitted from trade agreements and globalization. Globalization has produced very different outcomes for different industries and regions, benefitting some and hurting others. Leaders of existing political parties have failed to grasp and respond to these changes leaving room for others to take up the cause of the white working class. TPP trade agreement for instance benefits the information technology industry and hurts the automobile industry in the U.S., producing unequal outcomes that come after years of job losses and hollowing out in some industries- making it unpopular, and raising questions about the wisdom of such policies when most of the gains in free trade are already behind us according to Krugman and other experts.
Grouped Articles
Brexit: The Era of the Angry Voter Is Upon Us - SPIEGEL ONLINE
SPIEGEL ONLINE 07/06/2016
What the New GOP Means for Wall Street
WSJ 07/19/2016
Support for Trump in unexpected places | US elections 2016 | DW.COM | 20.07.2016
DW.COM 07/20/2016
The presidential campaign and the US middle class | US elections 2016 | DW.COM | 13.03.2016
DW.COM 03/13/2016
Hillary Clinton Asks Not for Trust, but for Faith in Her Competence
The New York Times 07/29/2016
Two Political Conventions, Two Distinct World Views
WSJ 07/28/2016
WSJ poll showing the sharply shifting public sentiment on trade in 2011, perceived as hurting American workers, and a study by Autor, Hanson and Dorn, that showed its effect by counties in the U.S., gave early warnings that were not heeded by policymakers.
Grouped Articles
This one anecdote perfectly explains how Donald Trump is hijacking the GOP - The Washington Post
Washington Post 03/28/2016
Tallying the Toll of U.S.-China Trade
Wall Street Journal 09/27/2011
The Hidden Job Crisis for American Men
BusinessWeek 04/07/2011
What’s Our Duty to the People Globalization Leaves Behind?
New York Times 01/26/2016
Pacific Trade Deal Likely to Have Narrow Reach
Wall Street Journal 08/01/2015
U.S. Household Incomes Surged 5.2% in 2015, First Gain Since 2007
WSJ 09/13/2016
Grouped Articles
Trump Suggests Using Bedrock China Policy as Bargaining Chip
The New York Times 12/11/2016
How Donald Trump May Actually Widen the U.S. Trade Deficit
WSJ 12/12/2016
Donald Trump Chooses Exxon Mobil CEO Rex Tillerson as Secretary of State
WSJ 12/13/2016
Taiwan Is Both Exhilarated and Unnerved by Trump’s China Remarks
The New York Times 12/15/2016
Aging Population, Stagnant Productivity Challenge Donald Trump’s Growth Plan
WSJ 12/04/2016
Germany's Merkel to warn Trump about dangers of protectionism | News | DW.COM | 14.01.2017
DW.COM 01/14/2017
The need for a strong and growing manufacturing base in the U.S. is one key realization for business leaders from the heads of Boeing, Intel and GE, and other business leaders to leaders in government. Failure to do this simply breeds a sense of pessimism about the future and creates an economy that leaves many productive people jobless, creates unsustainable trade deficits and foreign borrowing. Jeffrey Immelt says this in an op-ed piece in the Washington Post on the day he is appointed to head the President's Council on Jobs.
Grouped Articles
Does America Need Manufacturing?
New York Times 08/24/2011
Andy Grove: How America Can Create Jobs
BusinessWeek 07/01/2010
Wall Street Journal 10/02/2010
New York Times 02/08/2012
Growth isn’t enough to help the middle class - The Washington Post
Washington Post 02/14/2013
Why Manufacturing Still Counts in the U.S. Economy
Wall Street Journal 01/14/2015
As a result of an extraordinary sensitivity to the retaliatory tendency of Chinese regulators, U.S. executives are sitting quiet on major trade issues. The wind energy subsidies to Chinese wind energy maufacturers was an issue raised by the United Steelworkers Union, not by GE. Everybody is eating their bitterness in solitude, says one U.S. executive.
Grouped Articles
Wall Street Journal 10/02/2010
Steel Firms in U.S. Strive to Cope with Imports
Wall Street Journal 06/18/2015
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Multinationals Sit Out China Trade Battles
New York Times 12/23/2010
U.S. Says Chinese Fund Breaks Trade Rules
New York Times 12/22/2010
Senate Moves to Punish China for Yuan's Low Value
Wall Street Journal 10/04/2011
The issues raised cover worker protections, and also include some that are not frequently mentioned. Including the right granted to large corporations in TPP to sue the U.S. and other governments on issues where the governments have acted in the public interest as it relates to the environment, health, safeguards related to poor industry practices. A letter to WSJ says president Obama is doing this to look like a centrist president for his legacy, and not for free trade. Separately Krugman points to the issue of intellectual property rights enforcement that has the potential of making it harder to provide access to modern medicine to people in developing countries, a serious pitfall. Response to criticism by the Obama administration has generally talked about the merits of free trade which are generally accepted, and not the specific provisions, or the context in which most of the gains in free trade have already been made in the seven decades to 2015 and the remaining gains are much smaller coming with some losses. The global economy now benefits more from investments in infrastructure both in developing and advanced economies, which is why China's Infrastructure Investment Bank has received such wide support, including EU countries and India. The Obama administration has failed to make the case for investment in infrastructure to the American public, at a time when large productivity gains can be made here following about 2 decades of neglect. A similiar situation exists in Germany, and is especially true of Latin American countries which have serious infrastructure problems that reduce economic growth.
Grouped Articles
In the Heat of the Pacific Trade Battle
New York Times 05/22/2015
New York Times 05/22/2015
New York Times 02/27/2014
No Obama Tears for TPA or the TPP
Wall Street Journal 05/22/2015
Obama Presses Currency Compromise in Trade Pact
Wall Street Journal 05/24/2015
Pelosi Rejects Appeals, Hands Obama a Trade Defeat
Wall Street Journal 06/13/2015
Grouped Articles
This one anecdote perfectly explains how Donald Trump is hijacking the GOP - The Washington Post
Washington Post 03/28/2016
Tallying the Toll of U.S.-China Trade
Wall Street Journal 09/27/2011
The Hidden Job Crisis for American Men
BusinessWeek 04/07/2011
What’s Our Duty to the People Globalization Leaves Behind?
New York Times 01/26/2016
Pacific Trade Deal Likely to Have Narrow Reach
Wall Street Journal 08/01/2015
Brexit: The Era of the Angry Voter Is Upon Us - SPIEGEL ONLINE
SPIEGEL ONLINE 07/06/2016
Firefighters and other service workers unions actively campaigned against the trade bills in Congress for the first time in 2015. The public sector unions now see how the closing of American factories, the decline in neighborhoods near plants, affects the demand for public services and the ability of cities and municipalities to pay for the public services. The decline in wages for industrial workers creates a negative perception for the higher wages in the public sector, reducing support from struggling industrial workers. The drastic drop in factory wages with globalization and the shrinking revenues of cities as incomes decline, is leading to a realization in labor that workers are affected in many ways by seemingly unrelated developments in trade and globalization. Another development is the expert information that shows the need for investment in infrastructure in the poorer countries of Latin America, and in the U.S., which would provide significant benefits. The benefits from trade tariff reduction are now small, as most of the benefits were achieved through earlier action in trade.
Grouped Articles
Labor’s Might Seen in Failure of Trade Deal as Unions Allied to Thwart It
New York Times 06/13/2015
Washington Dysfunction, With a Twist: Democrats Desert Their President
New York Times 06/12/2015
Unions Declare Partial Victory Against Obama’s Pacific Trade Deal
Wall Street Journal 06/15/2015
Washington Post 10/23/2015
McConnell warns that trade deal can’t pass Congress before 2016 elections - The Washington Post
Washington Post 12/11/2015
Trans-Pacific Trade Pact Would Lift U.S. Incomes, but Not Jobs Overall, Study Says
New York Times 01/25/2016
Grouped Articles
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/2010
Wall Street Journal 10/02/2010
China Pumps Up the Volume Against Japan
Wall Street Journal 02/08/2014
Xi Gives America Inc. a Reality Check
Wall Street Journal 09/22/2015
After Michigan Loss, Hillary Clinton Sharpens Message on Jobs and Trade
New York Times 03/09/2016
Campaign Season’s Anti-China Tone Is Likely to Cloud Meeting With Obama
New York Times 03/30/2016
American action against products from China that are dumped on the U.S. market. The unervalued Chinese currency and subsidized exports.
Grouped Articles
Wall Street Journal 10/04/2011
Economist 03/31/2010
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
How China Lost Its Mojo: One Town's Story
Wall Street Journal 09/16/2013
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
US-China trade relations: Speak less softly, carry a stick
Economist 09/25/2010
Grouped Articles
Trade and Oil on Agenda as Obama Visits Canada
New York Times 02/20/2009
'Three Amigos' Outline Trade Goals at Talks
Wall Street Journal 02/20/2014
In Mexico Meeting, a Show of Friendship With Few Results on Immigration and Trade
New York Times 02/19/2014
Dollar’s Rise Lifts Imports and Widens Trade Gap
New York Times 05/05/2015
Northern Exposure: Loonie’s Fall Is Freezing Up Business at Border
Wall Street Journal 03/05/2016
Obama and Canada’s Justin Trudeau Promote Ties and Climate Plan
New York Times 03/10/2016
Grouped Articles
Carmakers Are Central Voice in U.S.-Europe Trade Talks
New York Times 07/14/2014
Obama Joins Angela Merkel in Pushing Trade Deal to a Wary Germany
New York Times 04/24/2016
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
Transatlantic Partnership: Europe's Illusions | ZEIT ONLINE
ZEIT ONLINE 10/31/2017
Linked Articles
Mexico is growing less pessimistic about Donald Trump
The Economist 04/14/2017
Trump Nafta Blueprint Raises Concerns in Canada and Mexico
WSJ 03/30/2017
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