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Don't Be Fooled By the Trade Deficit

Fred Hochberg | Posted 05.25.2011 | Business
Fred Hochberg

This week President Obama outlines the administration's plans to double U.S. exports in the next five years. The trade imbalance won't right itself overnight, but we are already well on our way.

A Market Solution to Help the World's Poor?

Stephan B. Tanda | Posted 05.25.2011 | World
Stephan B. Tanda

Is there a real business in helping the world's poor? According to the World Resources Institute and the International Finance Corporation, there is.

Getting Your Sh*t Together: Ask GYST (Bartering and Trading Artwork)

Karen Atkinson | Posted 05.25.2011 | Arts
Karen Atkinson

I want to propose a barter with my dentist, I give her a painting in exchange for dental work. Are there laws I need to know about?

Going Fair Trade

David Bronner | Posted 05.25.2011 | Green
David Bronner

The fair trade movement had initially emerged around coffee, cocoa and tea, major commodities whose producers globally routinely suffered from major price fluctuations and exploitative trading practices.

Summers brings back bubkes from Beijng

Robert E. Scott | Posted 05.25.2011 | Business
Robert E. Scott

Larry Summers, Director of the National Economic Council, returned empty handed from meetings this week with Chinese President Hu Jintao and other sen...

American Jobs Tragedy

Dave Johnson | Posted 05.25.2011 | Politics
Dave Johnson

The DC and business elite don't feel it. They explain the problem by blaming the people they put out of work, saying the unemployed are just lazy, and unemployment checks keep them from looking for work.

Labor Day: Labor Got It Right -- Who Could Have Known?

Dave Johnson | Posted 05.25.2011 | Politics
Dave Johnson

"Who could have known?" That's the cry from the big-corporate and D.C. elite as the economy and the environment and so many important things crash ar...

Boehner Trade Plan: Go Back to Disaster

Dave Johnson | Posted 05.25.2011 | Business
Dave Johnson

Shorter Boehner: Our economic policies destroyed the country's economy and millions of lives, but it made a few of my buddies really REALLY rich, so let's do more of it.

U.S.-China Trade: How Long Will the U.S. Be China's Doormat?

Leo Hindery, Jr. | Posted 05.25.2011 | Politics
Leo Hindery, Jr.

President Obama's current hide-the-pea approach regarding trade with China is in complete contradiction to Candidate Obama's promises throughout the 2008 campaign.

Making it in America

Tom Donohue | Posted 05.25.2011 | Business
Tom Donohue

President Obama acknowledges that one in three U.S. manufacturing jobs depends on exports, and yet he has failed to advance a trade agenda that would result in more U.S. manufacturing jobs and sales.

When Wall Street Rules, We Get Wall Street Rules

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

If the financial crisis was preventable, why didn't our leaders try to stop it? Why don't they take the steps necessary now to get the economy moving again? The answer to both these questions is simple; the politicians work for someone else.

Free Trade: Flawed Theory and Bad Policy

Stan Sorscher | Posted 05.25.2011 | Business
Stan Sorscher

Free trade works very well for investors, financial institutions, and large multinational companies. At the same time, our free trade agreements push aside interests of workers, communities and the environment.

Our Growth Is Outsourced, Like Our Jobs

Dave Johnson | Posted 05.25.2011 | Business
Dave Johnson

In the news today, a familiar story: imports increased, exports declined. We're importing shiploads of stuff and sending the ships back filled with cash -- and what's left of our future.

Report: Obama Program to Help Corporations "Take Advantage of Low Labor Costs" Abroad

David Sirota | Posted 05.25.2011 | Business
David Sirota

Even if we don't reform our atrocious trade policies that incentivize the ongoing wage-cutting race to the bottom, the least we should do is invest every available dollar in job training and job creation here at home. Doing the opposite is grotesque.

Do We Need a Democracy Tariff?

Dave Johnson | Posted 05.25.2011 | Business
Dave Johnson

We can and should set a "Democracy Tariff" on goods that come from countries that do not protect their workers and/or environment.

Exporting Jobs Is Not "Trade," It Evades Democracy's Protections

Dave Johnson | Posted 05.25.2011 | Business
Dave Johnson

This post originally appeared at Campaign for America's Future (CAF) at their Blog for OurFuture as part of the Making It In America project. I am a ...

Obama Must Discover the WTO

James Bacchus | Posted 05.25.2011 | World
James Bacchus

None too soon, Obama seems to have discovered that one of the best ways to create jobs and growth is through more world trade. To create the most jobs and the most growth through trade, he must also discover the World Trade Organization.

Trade Deficit Shockingly Widens Because America's Got Talent... to Consume!

Damien Hoffman | Posted 05.25.2011 | Business
Damien Hoffman

Yesterday, the US Department of Commerce announced the US trade deficit jumped a "surprising" 4.8% in May. On this Bastille Day, the US consumer has stormed back onto the scene to resume consumption that outpaces production.

Why We Can't Rely on Foreign Consumers to Rescue American Jobs, and Why Today's "Jobs for America Summit" Is a Bad Joke

Robert Reich | Posted 05.25.2011 | Business
Robert Reich

Regardless of how much we export, if imports continue to exceed that amount, we're heading in the opposite direction. Trade can't possibly be a source of new American jobs.

Where Is the 2008 Barack Obama Now on Jobs and Trade?

Leo Hindery, Jr. | Posted 05.25.2011 | Politics
Leo Hindery, Jr.

With every good intention and with one of the most precise 'promise-full' agendas in the history of American electoral politics, Barack Obama sailed his new ship of state into the White House in January 2009. And then the "gang who couldn't (or didn't want to) steer the ship straight" almost immediately ran his jobs and trade promises aground. It's past time for President Obama to declare a full-scale jobs emergency and to demand that Congress get on board.

The Grip of the Old Economy

Robert L. Borosage | Posted 05.25.2011 | Politics
Robert L. Borosage

President Obama touted his National Export Initiative this week, boasting that in the first quarter of this year, exports were up 17% from a year ago. Increased exports abroad generate jobs at home. Given the numerous economic problems we see reemerging of late, a little good news comes as welcome relief. But don't break out the spirits. Exports are a delectable appetizer, but the full meal is less digestible. Imports count too. Buying stuff abroad that could be made here displaces jobs. What matters is the balance of trade, not simply the rise or fall of exports.

Where Is Obama's Trade Policy?

Kimberly Ann Elliott | Posted 05.25.2011 | Politics
Kimberly Ann Elliott

Presidential backing for a single bilateral trade agreement does not a policy make. The three-legged stool -- defense, diplomacy and development -- for promoting U.S. interests internationally is still looking pretty wobbly.

"Doubling U.S. Exports" Not a Sufficient Jobs Policy: Not Even Close

Leo Hindery, Jr. | Posted 05.25.2011 | Business
Leo Hindery, Jr.

Last Friday, President Obama said, "Make no mistake, we are headed in the right direction [even as] we continue to fight headwinds from volatile global markets." In fact, we're not even close to making sufficient progress in reemploying America, and those "headwinds" are actually powerful turbines pointed in our faces by China and Mexico (and India). I can only hope that the depressing trade and real unemployment numbers will wake up Obama and his economic team to the reality that if they want to reach their export and trade goals and materially reduce U.S. unemployment, they need to materially change course.

Chinese Paper Subsidies: Boring? Jobs: Not Boring!

Dave Johnson | Posted 05.25.2011 | Business
Dave Johnson

China is subsidizing its paper industry and now is the largest producer of paper and paper products. This has cost jobs, and approximately 400,000 remaining American jobs are at risk.

The Chinese Aren't Coming

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

The China-Taiwan agreement and its implications raise a question for Americans: do they truly believe they can be winners in a world built on expanding trade rather than on military tension?