Deliberate manipulation of foreign exchange rates by a number of countries is one of the most egregious of all unfair trade practices today. By maintaining an artificially low exchange rate, a country in effect imposes an extra charge on imports (equivalent to a tariff) and also gains an unfair trade advantage in the U.S. and third country markets. While this practice has long been recognized as unfair, international trade rules have no effective provisions to address this issue.
The second volume notes that several countries are, in fact, working to change their comparative advantage by making investments in education, research and development, and infrastructure. They are also adopting policies that create an environment that encourages private sector investment and risk taking. In discussing how the United States should respond to the shifting comparative advantage of our trading partners, Senators Lamar Alexander and Jeff Bingaman stress the importance of increased investments in the physical sciences and the need to improve mathematics and science education. Other conference participants focus on policies in key regions of the world and still others urge attention to the U.S. current account and fiscal deficits. The conference on new thinking in international trade was made possible through a generous grant of the Alfred P. Sloan Foundation.
The formula to avoid the “fiscal cliff” is simple write Jane Harman and Vin Weber: a bipartisan compromise including spending cuts, entitlement reform and changes to the tax code that was outlined nearly two years ago in The Simpson Bowles Act. “No party can solve these knotty issues alone or without compromise,” the former members of Congress write for Politico.
SEPTEMBER 2005--Inaugural Event to Examine Potential Avian Influenza Outbreak
The Program on America and the Global Economy along with Paul Vallas, Distinguished Scholar and noted education reformer recently released a publication identifying the main challenges facing U.S. education in the 21st century.
This report, which was published in May of 2008, provides background on the growth and development of the biofuels sector and assesses the impacts of biofuels on food security, economic distortions, and the environment. It concludes with a variety of responses to these consequences.The report was prepared under contract on a consulting basis to the Woodrow Wilson International Center for Scholars.
While established companies tend to shed employees, young businesses account for nearly all new job creation in the US. In a set of interviews, experts discuss Sens. Moran and Warner’s Startup Act—aimed at enhancing America’s entrepreneurial edge.