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Migrants are economic assets for both their host and home countries, but they are disproportionately affected by the global financial crisis. Temporary migration programs and collaboration with migrant-sending countries can help maximize the economic benefits of migration, even in times of crisis.
Mexico’s disappointing experience with NAFTA underscores the need to reform trade agreements between the United States and developing countries.
As Asian countries seek to maintain trade advantage by manipulating their currencies, the United States and Europe, who have little room to devalue, may respond with protectionist measures that will hurt global trade.
Given the deep economic and cultural ties between Iran and Dubai, the recent economic troubles in the Emirate will certainly have an impact on Iran and may even play a role in the international negotiations over Iran’s nuclear program.
Without greater global investment or a rise in Chinese domestic consumption, the increasing U.S. savings rate will have serious repercussions for both the Chinese and American economies and create aftershocks in dozens of other countries.
The overvalued U.S. dollar has been unable to adjust sufficiently against Asian currencies, creating a risk that the United States will revert to trade protectionism in its attempt to achieve a better trade balance.
Leading economists describe the 2007-2009 economic crisis as the worst since the Great Depression, causing regulators worldwide to question the system that has drive the world’s economy for the past two decades.
The recent emphasis on the trade imbalance between the United States and China—which was high on President Obama’s agenda in Asia this week—is largely misplaced and diverts attention from more pressing domestic problems.
The White House must put forth a visionary new trade agenda to rebuild U.S. leadership abroad. However, it must first reinvigorate domestic support for its plans among the public, the private sector, and Congress.
Developing countries already play a substantial role in world trade, and their significance is only expected to rise. As they diversify and grow as export markets, emerging economies will come to dominate international trade.
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