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Clashing Over Commerce


Clashing Over Commerce
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Clashing Over Commerce


Clashing Over Commerce
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Author : Douglas A. Irwin
language : en
Publisher: University of Chicago Press
Release Date : 2017-11-29

Clashing Over Commerce written by Douglas A. Irwin and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-29 with Political Science categories.


A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs



Trade Policy Disaster


Trade Policy Disaster
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Author : Douglas A. Irwin
language : en
Publisher: MIT Press
Release Date : 2024-12-10

Trade Policy Disaster written by Douglas A. Irwin and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-12-10 with Business & Economics categories.


The extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis. The recent economic crisis—with the plunge in the stock market, numerous bank failures and widespread financial distress, declining output and rising unemployment—has been reminiscent of the Great Depression. The Depression of the 1930s was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade. Although policymakers today claim that they will resist the protectionist temptation, recessions are breeding grounds for economic nationalism, and countries may yet consider imposing higher trade barriers. In Trade Policy Disaster, Douglas Irwin examines what we know about trade policy during the traumatic decade of the 1930s and considers what we can learn from the policy missteps of the time. Irwin argues that the extreme protectionism of the 1930s emerged as a consequence of policymakers' reluctance to abandon the gold standard and allow their currencies to depreciate. By ruling out exchange rate changes as an adjustment mechanism, policymakers turned instead to higher tariffs and other means of restricting imports. He offers a clear and concise exposition of such topics as the effect of higher trade barriers on the implosion of world trade; the impact of the Smoot-Hawley tariff of 1930; the reasons some countries adopted draconian trade restrictions (including exchange controls and import quotas) but others did not; the effect of preferential trade arrangements and bilateral clearing agreements on the multilateral system of world trade; and lessons for avoiding future trade wars.



Free Trade Under Fire


Free Trade Under Fire
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Author : Douglas A. Irwin
language : en
Publisher: Princeton University Press
Release Date : 2020-04-14

Free Trade Under Fire written by Douglas A. Irwin and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-04-14 with Business & Economics categories.


An updated look at global trade and why it remains as controversial as ever Free trade is always under attack, more than ever in recent years. The imposition of numerous U.S. tariffs in 2018, and the retaliation those tariffs have drawn, has thrust trade issues to the top of the policy agenda. Critics contend that free trade brings economic pain, including plant closings and worker layoffs, and that trade agreements serve corporate interests, undercut domestic environmental regulations, and erode national sovereignty. Why are global trade and agreements such as the Trans-Pacific Partnership so controversial? Does free trade deserve its bad reputation? In Free Trade under Fire, Douglas Irwin sweeps aside the misconceptions that run rampant in the debate over trade and gives readers a clear understanding of the issues involved. In its fifth edition, the book has been updated to address the sweeping new policy developments under the Trump administration and the latest research on the impact of trade.



Early Modern East Asia


Early Modern East Asia
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Author : Kenneth M. Swope
language : en
Publisher: Routledge
Release Date : 2017-11-14

Early Modern East Asia written by Kenneth M. Swope and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-14 with Social Science categories.


This book presents a great deal of new primary research on a wide range of aspects of early modern East Asia. Focusing primarily on maritime connections, the book explores the importance of international trade networks, the implications of technological dissemination, and the often unforeseen consequences of missionary efforts. It demonstrates the benefi ts of a global history approach, outlining the complex interactions between Western traders and Asian states and entrepreneurs. Overall, the book presents much interesting new material on this complicated and understudied period. .



A Concise History Of U S Foreign Policy


A Concise History Of U S Foreign Policy
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Author : Joyce P. Kaufman
language : en
Publisher: Rowman & Littlefield
Release Date : 2010-01-16

A Concise History Of U S Foreign Policy written by Joyce P. Kaufman and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-16 with Political Science categories.


A third edition of this book is now available. Now in a fully updated edition, this knowledgeable and reader-friendly text gives a conceptual and historical overview of American foreign relations from the founding to the present. Providing students with a solid and readily understandable framework for evaluating American foreign policy decisions, Joyce P. Kaufman clearly explains key decisions and why they were made. Compact yet thorough, the book offers instructors a concise introduction that can be easily supplemented with other sources.



Peddling Protectionism


Peddling Protectionism
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Author : Douglas A. Irwin
language : en
Publisher: Princeton University Press
Release Date : 2017-10-24

Peddling Protectionism written by Douglas A. Irwin and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-24 with Business & Economics categories.


A history of America's most infamous tariff The Smoot-Hawley tariff of 1930, which raised U.S. duties on hundreds of imported goods to record levels, is America's most infamous trade law. It is often associated with—and sometimes blamed for—the onset of the Great Depression, the collapse of world trade, and the global spread of protectionism in the 1930s. Even today, the ghosts of congressmen Reed Smoot and Willis Hawley haunt anyone arguing for higher trade barriers; almost single-handedly, they made protectionism an insult rather than a compliment. In Peddling Protectionism, Douglas Irwin provides the first comprehensive history of the causes and effects of this notorious measure, explaining why it largely deserves its reputation for combining bad politics and bad economics and harming the U.S. and world economies during the Depression. In four brief, clear chapters, Irwin presents an authoritative account of the politics behind Smoot-Hawley, its economic consequences, the foreign reaction it provoked, and its aftermath and legacy. Starting as a Republican ploy to win the farm vote in the 1928 election by increasing duties on agricultural imports, the tariff quickly grew into a logrolling, pork barrel free-for-all in which duties were increased all around, regardless of the interests of consumers and exporters. After Herbert Hoover signed the bill, U.S. imports fell sharply and other countries retaliated by increasing tariffs on American goods, leading U.S. exports to shrivel as well. While Smoot-Hawley was hardly responsible for the Great Depression, Irwin argues, it contributed to a decline in world trade and provoked discrimination against U.S. exports that lasted decades. Peddling Protectionism tells a fascinating story filled with valuable lessons for trade policy today.



International Financial Markets


International Financial Markets
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Author : Richard M. Levich
language : en
Publisher: McGraw-Hill Europe
Release Date : 2001

International Financial Markets written by Richard M. Levich and has been published by McGraw-Hill Europe this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Capital market categories.


The purpose of this text is to analyze the key financial markets and instruments that facilitate trade and investment activity on a global scale. It spans two key areas: First-the economic determinants of prices, price changes and price relationships in the major financial markets; Second-the policy issues that result from private enterprises and public policymakers.



China And The Wto


China And The Wto
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Author : Petros C. Mavroidis
language : en
Publisher: Princeton University Press
Release Date : 2021-01-05

China And The Wto written by Petros C. Mavroidis and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-05 with Business & Economics categories.


"China's accession to the World Trade Organisation (WTO) in 2001 was hailed as the natural conclusion of a long march that started with the reforms introduced by Deng Xiaoping in the 1970s. However, China's participation in the WTO since joining has been anything but smooth, and its self-proclaimed "socialist market economy" system has alienated many of its global trading partners - as recent tensions with the United States exemplify. Prevailing diplomatic attitudes tend to focus on two diametrically opposing approaches to dealing with the emerging problems: the first is to demand that China completely overhaul its economic regime; the second is to stay idle and accept that the WTO must accommodate different economic regimes, no matter how idiosyncratic and incompatible. In this book, Mavroidis and Sapir propose a third approach. They point out that, while the WTO (as well as its predecessor, the General Agreement on Tariffs and Trade [GATT]) has previously managed the accession of socialist countries or of big trading nations, it has never before dealt with a country as large or as powerful as China. Therefore, in order to simultaneously uphold its core principles and accommodate China's unique geopolitical position, the authors argue that the WTO needs to translate some of its implicit legal understanding into explicit treaty language. Focusing on two core complaints - that Chinese state-owned enterprises (SOEs) benefit from unfair trade advantages, and that domestic companies (both private as well as SOEs) impose forced technology transfer on foreign companies as a condition for accessing the Chinese market - they lay out their specific proposals for successful legislative amendment"--.



Schism


Schism
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Author : Paul Blustein
language : en
Publisher: McGill-Queen's Press - MQUP
Release Date : 2019-09-10

Schism written by Paul Blustein and has been published by McGill-Queen's Press - MQUP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-10 with Business & Economics categories.


China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.