Category Archives: Trade policy

C-Span Afterwords: “The Wall and the Bridge: Fear and Opportunity in Disruption’s Wake” w/Glenn Hubbard

The time for the Party of Davos has come and gone. The reactionary tide is rising.

George W. Bush Council of Economic Advisers chair Glenn Hubbard argued that government and business will need to invest more in American workers to offset job losses due to technology advances and globalization. He was interviewed by Harvard University economics professor and former International Monetary Fund chief economist Kenneth Rogoff.

Source: After Words with Glenn Hubbard | C-SPAN.org

David P. Goldman: Beating China

So what do we need? We need an industrial policy. it’s going take about a trillion dollars and 10 years to rebuild our industrial base, after 20 years of the American elite shifting everything to software and destroying our skill base, our industrial communities, our manufacturing companies, and so forth. A trillion dollars—that’s not a lot of money. We’re going to need apprenticeship programs like the northern Europeans to take kids who might be wasting their time doing a gender studies major and teach them a trade where they’ll probably make three times as much money. German auto workers make twice as much as American auto workers, by way of example.

We need a defense Education Act like Eisenhower introduced after Sputnik, something that gives people scholarships for engineering and other things which beat National Defense requirements, as opposed to critical studies theory. We know all these things because we’ve done every single one of them. We only have to dust off the old ideas and get the band back together. And what I put to you is that the conservative movement needs a positive program, a set of solutions to galvanize the American people, capture their imagination as Kennedy did when he pointed to the moon, as Reagan did when he promised to defend the homeland against enemy ballistic missiles. We need a positive view, we need a can-do approach, and we need to found it on the proven track record of the United States of America in pioneering the future for the world.

Source: Beating China – The American Mind

The Ezra Klein Show: How Energy Markets Are Shaping Putin’s Invasion — and the World w/Daniel Yergin

Nearly every dimension of the Ukraine-Russia conflict has been shaped by energy markets. Russia’s oil and gas exports have long been the foundation of its economy and geopolitical strength. Vladimir Putin’s decision to invade Ukraine — like his annexation of Crimea in 2014 — coincided with high energy prices. While Western sanctions have dealt a major blow to Russia’s financial system, European carve-outs for Russian oil and gas have kept hundreds of millions of dollars flowing to Moscow every day. As a result, energy policy has become foreign policy. European countries are doubling down on their commitments to decarbonize in order to reduce their dependence on Russian energy as quickly as possible. The United States has banned Russian oil and gas imports, and in the wake of spiking gasoline prices, the Biden administration is looking for any opportunity to increase the world’s oil supply, including the possibility of normalizing trade relations with previously blacklisted countries like Venezuela and Iran.

But the intersection of energy and geopolitics extends far beyond this conflict. Energy is the bedrock of nations’ economic prosperity, military strength and geopolitical power. Which means energy markets are constantly shaping and reshaping global dynamics. You can’t understand the way the world operates today if you don’t understand the global flow of energy. There are few people who have studied energy markets as closely as Daniel Yergin has. He is an economic historian and writer who has been called “America’s most influential energy pundit” in The New York Times. And he’s the author of numerous books on the intersection of energy and geopolitics, including the Pulitzer Prize-winning “The Prize: The Epic Quest for Oil, Money, and Power” and, most recently, the best-selling “The New Map: Energy, Climate, and the Clash of Nations.”

We discuss how Putin’s invasion halfway across the world caused gasoline prices to rise in California; what would happen to European economies if they decided to cut off Russian gas; how the U.S. shale revolution has transformed the global political landscape; why, when it comes to China and Russia, Yergin believes that “a relationship that was once based on Marx and Lenin is now grounded in oil and gas”; whether Donald Trump was right to be skeptical of Nord Stream 2; why decarbonization is not only beneficial for the climate but also crucial for national security; whether the Biden administration’s response to spiking energy prices is putting its climate agenda in jeopardy; why Yergin thinks hydrogen power could become central to combating climate change; and much more.

Source: Player FM – Internet Radio Done Right

Manifold Episode 45: Robert Atkinson on US-China Competition and Industrial Policy

Steve and Corey talk with Robert Atkinson, President of the Information Technology and Innovation Foundation about his philosophy of National Developmentalism. They discuss the history of industrial policy and mercantilism in the US and China. Why did the US lose 1/3 of its manufacturing jobs in the 2000s? How much was due to automation and how much to Chinese competition? Atkinson discusses US R&D and recommends policies that will help the US compete with China.

Other topics: Forced technology transfer, IP theft, semiconductors and Micron technologies (DRAM), why the WTO cannot handle misbehavior by China.

https://manifoldlearning.com/episode-045/