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Posts Tagged ‘Krueger’

Trump’s Backward March on Trade

Posted by hkarner - 21. Januar 2020

Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University, and Senior Fellow at the Center for International Development, Stanford University.

After three years of the Trump administration, the economic costs of „America First“ are continuing to mount, with global trade and GDP growth slowing and investment in decline. Ironically, the biggest loser has been America.

WASHINGTON, DC – Following America’s disastrous 1930 Smoot-Hawley Tariff Act, the subsequent international trade war, and eventually World War II, the United States went on to lead the world toward a more open multilateral trading system. In 1947, the international community adopted the General Agreement on Tariffs and Trade, which would later become the World Trade Organization. Under this international body, trade was bound to the rule of law and the principle of non-discrimination among trading partners.

The system has been a huge success. Over the past seven decades, world trade has grown almost twice as fast as real output. And owing to US leadership, there have been ongoing multilateral negotiations to lower tariffs, remove other barriers (such as quantitative import restrictions), and facilitate trade expansion.But in 2017, US President Donald Trump’s new administration abandoned America’s longstanding commitment to the open multilateral trading system, opting instead for a power-based approach to international economic relations. Den Rest des Beitrags lesen »

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A Transformative Deal for Nature

Posted by hkarner - 16. Januar 2020

Linda Krueger is Senior Policy Adviser at The Nature Conservancy.

In less than one year, delegates from around the world will gather in Kunming, China, to complete a new global agreement for protecting and conserving the world’s natural systems. To succeed, they must bring together not just environmentalists, but also officials with the clout to effect change across entire economies.

NEW YORK – This October, representatives of the 196 parties to the United Nations Convention on Biological Diversity (CBD) will gather in Kunming, China, to finalize a new . Like the 2015 Paris climate accord, this new agreement could mark a turning point in how we manage our relationship to nature.

But biodiversity advocates must learn an important lesson from climate activists. Global climate action gained momentum only after it became clear that the issue was about more than the environment, and would require a transformation of transport, energy, agriculture, infrastructure, and many industries. Likewise, the rapid loss of biodiversity that we are witnessing is about much more than nature. Den Rest des Beitrags lesen »

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Why the US‑China Trade War Could Re‑escalate

Posted by hkarner - 22. Dezember 2019

Date: 21‑12‑2019

Source: Project Syndicate by Anne O. Krueger

Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University, and Senior Fellow at the Center for International Development, Stanford University. 

The „phase one“ trade deal between the United States and China addresses only some of the US government’s concerns, and its remaining demands will be much harder to resolve. But while both America and China have an interest in the success of the open multilateral global trading system, current US policy is undermining that goal.

WASHINGTON, DC – After nearly 18 months of tit‑for‑tat tariff increases, the United States and China have reached a “phase one” agreement to start de‑escalating their trade war. As part of the deal, US President Donald Trump canceled further tariff increases on Chinese goods that had been scheduled to take effect on December 15, and halved a 15% tariff on $120 billion worth of imports from China. As for China, it shelved its planned retaliatory measures and committed to import some $50 billion worth of US agricultural products in each of the next two years. Den Rest des Beitrags lesen »

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Making America Mediocre

Posted by hkarner - 22. November 2019

WASHINGTON, DC – The private sector performs well when firms can compete on a level playing field. But if the state is willing to influence market outcomes for individual firms, politically connected parties can gain an advantage over their more efficient competitors.

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Trump’s Brain Drain

Posted by hkarner - 16. Januar 2019

Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University, and Senior Fellow at the Center for International Development, Stanford University.

Though higher-education services are a major US export and a key source of domestic innovation and economic growth, this key sector is often lost in debates about trade and the current account balance. But with foreign enrollment in US universities now declining in the age of Donald Trump, Americans should not be surprised if their own tuition bills go up.

WASHINGTON, DC – America’s high-quality universities are among the key sources of its greatness. Every year, top students from all over the world vie for access to graduate and undergraduate programs in the US, and American universities occupy most of the top spots in global rankings. Moreover, the basic research conducted at US universities has been a primary driver of innovation and economic growth, as well as the source of a disproportionate share of Nobel prizes.

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Das globale Handelssystem könnte zusammenbrechen

Posted by hkarner - 19. September 2018

Sep 17, 2018 Anne O. Krueger, Project Syndicate
Anne O. Krueger
Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University, and Senior Fellow at the Center for International Development, Stanford University.

WASHINGTON, DC – Zehn Jahre nach dem Konkurs von Lehman Brothers wissen wir, dass multilaterales Handeln entscheidend dabei war, zu verhindern, dass sich die sogenannte „Große Rezession“ zu etwas noch Schlimmerem entwickelte, als sie ohnehin schon war. Damals war es das globale Finanzsystem, das wankte. Heute ist es das globale Handelssystem, das in Gefahr ist.

Der Multilateralismus hat der Welt in den letzten 70 Jahren gute Dienste geleistet. Man muss es den USA sehr zugutehalten, dass sie nach dem Zweiten Weltkrieg Vergeltung und Reparationen vermied und stattdessen den Weg zur Gründung der drei wichtigen Wirtschaftsinstitutionen wies, die die Grundlage der noch heute bestehenden internationalen Wirtschaftsordnung bilden: dem Internationalen Währungsfonds, der Weltbank und der Welthandelsorganisation (WTO; ehemals das Allgemeine Zoll- und Handelsabkommen (GATT)). Den Rest des Beitrags lesen »

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A Tragedy for Turkey and the US

Posted by hkarner - 28. August 2018

Anne O. Krueger

Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the School of Advanced International Studies, Johns Hopkins University, and Senior Fellow at the Center for International Development, Stanford University.

After years of unsustainable growth driven by loose fiscal and monetary policies and foreign borrowing, Turkey is finally facing an economic reckoning. But with the Trump administration doubling tariffs on Turkish steel and aluminum, the prospects for reform have shrunk substantially.

WASHINGTON, DC – Among the many casualties of US President Donald Trump’s trade-policy misadventures, Turkey may be the saddest case to date. Until a few years ago, Turkey was an economic and geopolitical success story – one in which the United States could proudly claim to have played a key role. Though there were occasional bilateral disputes, Turkey remained a reliable ally for many decades.

But all that began to change in recent years. This summer, the Turkish economy started imploding under the weight of overly loose monetary and fiscal policies. Then, the US responded to the Turkish government’s failure to release an imprisoned American pastor by “punishing” the country with trade barriers and targeted sanctions. Trump announced that he was doubling US import tariffs on Turkish aluminum and steel, to 20% and 50%, respectively. Den Rest des Beitrags lesen »

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