Global Economy

admin July 3, 2018

Canada has retaliated against US steel and aluminum tariffs by slapping its own penalties on American exports. The Canadian government confirmed Sunday that it has imposed tariffs on US exports worth 16.6 billion Canadian dollars ($12.5 billion). More than 40 US steel products attract tariffs of 25%. A tax of 10% has been levied on […]

admin July 2, 2018

Nearly $300 billion of US exports could be hit by retaliatory tariffs if the Trump administration decides to penalize automobile imports from around the world, the European Union says. The stark warning was included in the European Commission’s written response to the Trump administration’s investigation into imports of cars and car parts. The comments were […]

admin July 2, 2018

India’s shopkeepers took to the streets on Monday to protest Walmart’s $16 billion takeover of Indian e-commerce leader Flipkart. Around a million local traders were expected to protest Walmart’s big move into India, according to the Confederation of All India Traders (CAIT) that organized the protest. They’re worried that the combination of America’s biggest retail […]

admin June 29, 2018

CENTRAL bankers and economists have spilled much ink in recent years on the question of why wages have not grown more. The average unemployment rate in advanced economies is 5.3%, lower than before the financial crisis. Yet even in America, the hottest rich-world economy, pay is growing by less than 3% annually. This month the […]

admin June 29, 2018

China says it will open up more parts of its vast economy to foreign investment. The Chinese government announced late Thursday that it will loosen or remove restrictions in various industries, including railways, shipping and power grids. Some of the changes had been announced previously, such as in the automobile and financial sectors. But one […]

admin June 29, 2018

“MONEY often costs too much,” quipped Ralph Waldo Emerson. But a new study suggests that since 1950, the price of buying it with labour in America has fallen. Greg Kaplan of the University of Chicago and Sam Schulhofer-Wohl of the Federal Reserve Bank of Chicago have linked measures of how Americans today feel about various […]

admin June 29, 2018

India’s rupee is the latest currency to be dragged down by fears that a trade war could hurt global economic growth. The rupee dropped to a record low against the US dollar on Thursday, a slide fueled by fears over trade conflicts and higher oil prices that could drag down the major energy importer’s economy. […]

admin June 29, 2018

IN MAY 1945 John Maynard Keynes wrote a memo on the post-war economy. In it he argued that Britain should seek to be in the mainstream of global commerce. It would suit finance as well as industry to have the whole world as a playground, he wrote. “We built up the pre-war sterling area because […]

admin June 29, 2018

China is slashing tariffs on imports from five Asian countries in a move that could strengthen its defenses in a trade war with the United States. Beijing will reduce tariffs on thousands of products from India and South Korea, as well as the smaller economies of Sri Lanka, Bangladesh and Laos, China’s commerce ministry said […]