Secret side of offshoring needs policy action
The U.S. government's failure to develop a coherent policy on specific outsourcing arrangements called trade offsets has resulted in lost jobs and the transfer of technological innovation to other nations. These technology transfers and lost jobs in turn threaten long-term harm to national security and the economy. A new Agenda for Shared Prosperity Briefing Paper, Offsets and the Lack of a Comprehensive U.S. Policy: What Do Other Countries Know That We Don't?, points out that demand for such deals is increasing steadily over time in all regions, based on the U.S. government's limited data on offsets.
Remaking Manufacturing
EPI's latest Agenda for Shared Prosperity event, with a keynote address from Senator Sherrod Brown, saw the release of three new reports on manufacturing in America. The new reports include: Sue Helper (Case Western Reserve, NBER, and MIT) on Renewing U.S. Manufacturing: Promoting a High-Road Strategy; George Sterzinger (Renewable Energy Policy Project) on the need for a strong domestic manufacturing sector in promoting renewable energy and reducing greenhouse gas emissions; and EPI economist Robert Scott provided background data on the continued importance of manufacturing to the U.S. economy. Video, audio, and a written transcript from the event will be available in the near future. (News release [PDF])
The Marketing of Economics History
A new EPI Issue Brief and a more-detailed Working Paper show that a couple of the numbers recently introduced into the never-ending trade debate—one on the purported measure of how much past trade agreements have added to the U.S. economy and the other on how much future agreements will add to American incomes—both of which derive from the same flawed study seemingly designed to promote the globalization status quo.
The Characteristics of Offshorable Jobs
In recent years there has been increased attention to the fact that more jobs, particularly white-collar jobs, have become vulnerable to being offshored. This new analysis examines the characteristics of these jobs. Examining the occupations identified by Princeton economics professor Alan Blinder as "potentially offshorable," this EPI analysis finds that between 18% and 22% of today's jobs — about 25 to 30 million — could potentially be offshored. Interestingly, the workers most vulnerable to offshoring are those with at least a four-year college degree.
Globalization and American Wages
The continuing integration of the rich United States with a far poorer global economy has provoked much anxiety among American workers. EPI's new Briefing Paper, Globalization and American Wages, makes clear that such anxiety is well-founded. In fact, contrary to popular rhetoric, conventional economic theory argues that American workers will indeed be harmed by this integration. This paper also provides empirical estimates of integration's effect on American wages and inequality, and uses some prominent forecasts about the future of service-sector offshoring to explore the possible wage implications of going further down this road.
Hidden costs of insourcing
Public officials have frequently claimed that foreign companies making direct investments in the United States (also known as insourcing) are creating employment here. But insourcing can destroy jobs and communities, too. In fact, the total U.S. payroll employment of foreign multinationals declined by 50,000 jobs in 2005, 600,000 jobs between 2000 and 2005, and a total of about 4 million jobs since 1990. Read EPI's analysis of the long-term trends and the newly released data in the Issue Brief, The Hidden Costs of Insourcing.
Is CAFTA good for Costa Rica?
The Global Policy Network hosted a debate at EPI to discuss the forthcoming public referendum on the Central American Free Trade Agreement (CAFTA). Featured guests were Ottón Solís, former presidential candidate and head of the Costa Rican Citizen's Action Party, John Murphy, Vice President of International Affairs at the U.S. Chamber of Commerce, and moderator Bruce Stokes from the National Journal. Listen to an audio recording and view a slideshow from the event at GPN.org.
The Wal-Mart Effect
The world's largest retailer contributed about $27 billion to the United States' trade deficit with China in 2006. How many U.S. jobs got displaced as a result of Wal-Mart importing all of these Chinese goods? EPI's new Issue Brief has the answer.
Marketing the Gains from Trade
As new trade agreements are considered before fast-track trade promotion authority expires at the end of the month, a range of claims are being made to Congress about the benefits of trade. But one claim touts trade benefits far higher than the rest and deserves close inspection. In the EPI Issue Brief, Marketing the Gains from Trade, EPI economist L. Josh Bivens researches the source of the claim and finds the numbers are far too weak to be a basis of discussions about trade policy.
Costly Trade With China: Millions displaced; net job loss in every state
The current U.S.-China trade relationship is bad for both countries. The rise in the U.S. trade deficit with China between 1997 and 2006 has displaced production that could have supported over 2 million U.S. jobs and was responsible for 42.6% of the United States' total, non-oil trade deficit in 2006. The United States is piling up foreign debt, losing export capacity, and facing a more fragile macroeconomic environment. Meanwhile, China has become dependent on the U.S. market to generate jobs, has suppressed its wages by repressing labor rights, and has held hundreds of billions of hard-currency reserves in low-yielding, risky assets. The EPI Briefing Paper, Costly Trade With China, details how this is by far the United States' most imbalanced trading relationship.
Revisiting NAFTA: Still not working for North America's workers
When it was passed in 1994, the North American Free Trade Agreement was sold to the people of each nation on the promise that it would bring large net benefits in better jobs and faster growth. Twelve years later, it is clear that the costs to workers outweighed the benefits in the United States, Mexico, and Canada. In a new, three-country report, Revisiting NAFTA examines the impact the trade agreement has had so far on the distribution of income, wealth, and political power in each of these nations. (News release [PDF])
China Manipulates Its Currency—A Response is Needed
The bilateral deficit with China is now responsible for roughly a quarter of the entire U.S. trade deficit. Every available indicator shows that China is manipulating the value of its currency to enhance its international competitiveness. This Policy Memo addresses the damaging effects of China's currency manipulation on the U.S. and global economy.
Testimony on reauthorization of the Export-Import Bank
Read EPI economist Robert Scott's testimony before U.S. Senate Committee on Banking, Housing, and Urban Affairs in Viewpoints.
U.S. current account deficit improves, but still second largest on record
For a full analysis of the latest Bureau of Economic Analysis data, read EPI's Current Account Picture.
EPI Issue Guide on Offshoring
Check out EPI's recently revised Issue Guide on Offshoring. White-collar offshoring—the movement of well-paid jobs that were once insulated from foreign competition out of the United States—has been widely discussed in recent months as the information technology sector has experienced continued labor market slack. This Guide is a downloadable online resource that includes data, charts, fact sheets, and links to other resources on the topic of offshoring.
Trade deficits and manufacturing job loss
The relationship between the U.S. trade deficits in manufactured goods and manufacturing employment is simple: As the trade deficit rises, labor demand declines. But recent challenges to this relationship have claimed that U.S. trade deficits had minimal or even no impact on job loss. The EPI Briefing Paper, Trade Deficits and Manufacturing Job Loss: Correlation and Causality, takes these recent challenges to task and shows how the trade deficit accounted for over a fifth of the job loss in manufacturing between 2000 and 2003.
The Global Class War
A provocative new book called The Global Class War, by EPI founder and former president Jeff Faux, explains how globalization is creating a new global political elite—"The Party of Davos"—who have more in common with each other than with their fellow citizens. Learn more about the book and Jeff Faux's upcoming book signing appearances.
One-time insurance payments for Hurricanes Katrina and Rita mask continuing decay in the U.S. current account deficit
Though the data released today by the BEA showed a decrease in the current account deficit in the third quarter, this is only a reflection of unexpected, one-time inflows following Hurricanes Katrina and Rita. In fact, without those payments, the deficit would have increased to more than $820 billion. What's more, the data revealed that net income from U.S. investments in the second quarter was negative for the first time in at least 45 years. Read more about it in this Current Account Picture.
EPI's founder on why the world isn't flat
In the latest Dissent magazine, EPI founder Jeff Faux reviews New York Times columnist Thomas L. Friedman's new book, The World Is Flat. For Faux's thoughts on the subject, read his review online.
A new direction for economic policy in the Americas
At the Fourth Summit of the Americas on November 4, policy makers will be handed a document titled "Labor's Platform for the Americas" laying out an alternative set of principles and guideposts that should shape future economic policy making in the Americas. EPI's Issue Brief, Reclaiming an economic future through democracy, provides an overview of the platform and its sharp break with the current economic orthodoxy in the Americas.
Truth and consequences of offshoring
Over the past two years, economic observers have focused attention on the increased global competition for white-collar jobs that once seemed well-insulated and secure. In response to the anxiety and an incipient political backlash that began to result from this new offshoring trend, a number of studies were released touting large economic benefits that will accrue to the American economy through the offshoring of white-collar work. EPI's Briefing Paper, Truth and Consequences of Offshoring, examines three such studies, and shows how they overstate the benefits of offshoring and ignore the likely economic costs to American workers.
NAFTA's cautionary tale
Before ratifying new trade agreements, such as CAFTA, legislators should understand the consequences that similar trade deals have had in terms of job displacement in the U.S. labor market. For an analysis of how NAFTA has affected the job situation across the nation in every single state, read this Issue Brief from EPI, NAFTA's Cautionary Tale.
Foreign liabilities rapidly increasing, especially to foreign central banks
Mounting trade deficits have caused the United States to incur rapidly growing obligations to foreign investors according to the new report by the Bureau of Economic Analysis. But the situation may be even worse than it seems, according to data released this week from the organization of the World and Central Banks. For a full analysis, see this special Snapshot.
CAFTA proposal follows in NAFTA's failed footsteps
The proposed Dominican Republic/Central American Free Trade Agreement (CAFTA) shares many similarities with its predecessor, the North American Free Trade Agreement (NAFTA) crafted in the early 1990s. Both have made promises to revitalize the U.S. economy, and the agricultural sector in particular. However, an EPI Issue Brief, Will CAFTA Be a Boon to Farmers and the Food Industry?, shows that CAFTA is likely to repeat the legacy of worsening trade flows, declining incomes, and failed promised that have marked NAFTA since its inception.
Informal work in the global labor market
The increasing international reliance on informal employment, often characterized by poor working conditions, low pay, and a lack of basic labor standards, is a vitally important issue to address for raising living standards and reducing poverty in the developing world. Good Jobs, Bad Jobs, No Jobs, co-published by EPI and the Global Policy Network, analyzes in detail the informal work situation in five countries and outlines an ideal and comprehensive response to workforce development, with a specific focus on the working poor in the informal economy.
Labor standards, human capital, and economic development
Political progressives have long advocated linking the adoption and enforcement of core labor standards (CLS) protecting the rights of workers to the "rules of the game" that govern economic globalization, as set by multilateral institutions like the World Trade Organization (WTO). In this EPI Working Paper, Ray Marshall moves the debate forward by providing further evidence about why this linkage is beneficial to economic development and labor in both the developing and industrial nations, as well as providing a framework for complementary institutions that will wring the most benefit out of the adoption of CLS. The crux of the paper is the recognition that CLS foster a nation's investment in human capital, a crucial imperative for economic development.
The cost of U.S.-China trade hurts labor market in all states
The United States' trade deficit with China has increased twenty-fold since the late 1980s, rising from $6.2 billion in 1989 to $124 billion in 2003, and displacing 1.5 million jobs. That deep trade deficit with China is the focus of an EPI Working Paper which charts, state-by-state and industry-by-industry, its impact on the labor market in every state and the District of Columbia.
Trade Picture
For same-day analysis of the most recent trade figures from the Commerce Department, see EPI's Trade Picture.
How Argentina's economy can prevail
EPI hosted a roundtable discussion on behalf of the Global Policy Network regarding the challenges facing Argentina's economy. To hear a recording of this discussion, visit EPI's Audio Archive.
Shifting the Blame for Manufacturing Job Loss
Changing demand patterns and rapid productivity growth are the two factors most often blamed for the severe loss of jobs in the manufacturing industry. EPI's Briefing Paper, Shifting the Blame for Manufacturing Job Loss, finds that trade imbalances have accounted for a significant portion of the decline in manufacturing employment.
The high price of "free" trade
The North American Free Trade Agreement (NAFTA) has caused job losses in every U.S. state and the District of Columbia. NAFTA has also contributed to rising income inequality, suppressed real wages, and weakened workers' collective bargaining powers and ability to organize unions. Similar agreements, such as the proposed Free Trade Agreement of the Americas (FTAA), will continue to cost the United States jobs while worsening the U.S. trade deficit. For more information on the failure of NAFTA to help U.S. workers, see the EPI Briefing Paper The high price of 'free' trade.
Mending manufacturing
The current manufacturing crisis is largely a result of the rising trade deficit and an inflated value of the dollar. Mending Manufacturing, a Briefing Paper co-authored by EPI economists Josh Bivens, Christian Weller, and Rob Scott, examines the policies that led to the decline of U.S. manufacturing and offers solutions for reviving the manufacturing sector.
Rights make might
The arguments behind calls for the World Bank and the International Monetary Fund to promote worker rights are not only morally unassailable but make good economic sense, as well. In fact, a growing body of evidence highlights the economic benefits of these core labor standards, as explained in the EPI Issue Brief Rights Make Might: Ensuring workers’ rights as a strategy for economic growth.
Banking on multinationals
An update to the EPI Issue Brief, Banking on Multinationals, argues that the increased competition from large foreign lenders threatens domestic banks and increases financial instability in developing countries.
Reining in exchange rates
The overvaluation of the dollar has had serious consequences for the U.S. and foreign economies. To avoid exposing industrialized and many emerging economies to rapid, large, and uncontrolled currency fluctuations, a new, more regulated exchange rate regime is needed. Such a system would allow governments to take more control of their economic destinies and help avoid crises like those underway in Latin America. For a clear explanation of what a new global monetary system might look like, read the EPI Briefing Paper, Reining in Exchange Rates.
Trade deals accelerate deficits, eliminate jobs
Under NAFTA and the WTO, trade deficits have accelerated rapidly and eliminated a net total of 3 million actual and potential jobs from the U.S. economy. EPI's Issue Brief Phony Accounting and U.S. Trade Policy details the Bush Administration's tactics to sell more such trade agreements to the American public. A news release
is also available.
Rethinking the global political economy
Read a transcript of EPI President Jeff Faux's remarks on the global political economy at the 2002 Asia-Europe-U.S. Progressive Scholars Forum in EPI Viewpoints.
EPI Viewpoint on Colombia crisis
Columbia's problems with war and drugs stem from the poverty and joblessness brought on by International Monetary Fund and World Bank policies. Go to EPI Viewpoints to read a recent op-ed that appeared in the Baltimore Sun for more on how these policies have affected Columbia's economy.
A global strategy for labor
Read EPI President Jeff Faux's speech to the 2002 World Social Forum, A Global Strategy for Labor, in EPI's Viewpoints.
Global Policy Network web site
The Global Policy Network (GPN) consists of policy and research institutions connected to the world's trade union movements. GPN's work reflects a concern with the economic, social, and political conditions of working people in both developing and developed nations. The network's purpose is to exchange information and research among its member organizations; facilitate coordinated analysis of common issues; and to provide information to others on the state of working people in the global economy. Check out www.gpn.org.
Fast track to trade deficits
Largely ignored in the fast track debate is the unsustainable trade deficits that have followed in their wake. These trade deficits pose a serious threat to U.S. economic stability, and at this perilous point in U.S. history, even devout believers in free trade owe it to the nation to look closely at this piling on of foreign debt. For an analysis of why Congress should develop a credible program for reversing the country's rapidly growing foreign debt before granting fast track authority, read Jeff Faux's Issue Brief, Fast Track to Trade Deficits.
Capital and trade flow, but poverty persists
Is the world a better place after two decades of growing economic integration? The empirical evidence suggests that reductions in poverty and income inequality remain elusive in many parts of the globe, and that greater integration of deregulated trade and capital flows over the last two decades has likely undermined efforts to raise living standards for the world's poor. Read the analysis, The Unremarkable Record of Liberalized Trade.
The price of bad trade deals: 3 million jobs
Net job losses have accelerated sharply since 1994 when NAFTA and the World Trade Organization came into being. EPI's Briefing Paper, Fast Track to Lost Jobs, shows that a long-term trend of net job losses in trade-sensitive industries grew largely undetected just under the surface of the recent economic boom, indicating trouble ahead as the economy's downturn deepens. An accompanying Issue Brief, Where the Jobs Aren't, details the job losses by industry within each state.
Fast track will not help economic recovery
Read EPI President Jeff Faux's letter to Congressional leaders on fast track authority and trade in EPI's Viewpoints.
Smoke, mirrors, and fast track
Supporters of the Bush Administration's fast-track proposal cite a recent study to argue that trade liberalization will rapidly yield big economic gains around the world. The study's numbers look convincing at first, but it's an illusion -- rather than address the problems raised about global trade liberalization, the study merely assumes there aren't any. Read the analysis by Peter Dorman in The Free Trade Magic Act.
Trading away U.S. farms
The evidence clearly shows that trade has not delivered prosperity for America's farmers, and the White House request for "fast track" authority will only exacerbate the problems in current trade and agricultural policy. EPI's latest Briefing Paper, Trading Away U.S. Farms, shows why a strategic pause in trade liberalization - including termination of all proposals for new fast track authority - is needed to provide the time necessary to evaluate and repair these failures.
Distorting NAFTA's record
As has been the case throughout much of the debate over NAFTA, the agreement's advocates often have been selective in the statistics cited when proclaiming it a success. A most recent example of this can be found in a critique of EPI's study, NAFTA at Seven. EPI's response to this critique and others like it can be found in the new Issue Brief, Distorting the Record: NAFTA's Promoters Play Fast and Loose With the Facts, by Robert E. Scott.
EPI president testifies before Senate committee
In hearings before the U.S. Senate Commerce Committee, Jeff Faux, president of the Economic Policy Institute, urged the senators to consider a "strategic pause" in the expansion of free trade agreements between the U.S. and other countries. To learn more about Faux's testimony, read the press release or download the written testimony and charts.
NAFTA at Seven briefing 
Listen to an audio transcript of the May 22 briefing sponsored by Rep. Marcy Kaptur (D-Ohio) on EPI's report, NAFTA at Seven.
Audio from trade deficit discussion
Visit EPI's Audio Archive to listen to an online audio recording of the November 2000 EPI policy discussion, Managing the Trade Deficit, at which Sen. Byron Dorgan, Sen. Paul Sarbanes, members of the Trade Deficit Review Commission, and various experts discussed how trade policy can shape the U.S. economy and future living standards.
Seminar on Mexican elections
In advance of the historic presidential election in Mexico on July 2, EPI presented its latest global finance seminar, examining the economic and political factors affecting voter sentiment in that country. The panel discussion, led by EPI President Jeff Faux and featuring John Saxe Fernandez of the National Autonomous University of Mexico, Eric Olson from the Washington Office for Latin America, and La Jornada correspondent David Brooks, looked at a number of unique factors that have led to one of the most closely contested campaigns the ruling party has faced during its over 70 years of uninterrupted rule. The seminar also marks the debut of a new EPI Web feature, Real Audio transcripts of all EPI seminars. Listen to The Mexican Elections: Economic and Political Factors Affecting the Vote.
The China-WTO trade trap
The Clinton Administration is confidently forecasting that the huge U.S. trade deficit with China will improve if Congress accords China permanent normal trade relations (PNTR) in order to accommodate Beijing's membership in the World Trade Organization. But accession into the WTO under this arrangement would only serve to exacerbate the already growing trade deficit, severely depress employment in the manufacturing sector, and increase income inequality in the United States. Read EPI's latest Issue Brief, The High Cost of the China-WTO Deal, by economist Robert E. Scott, for an analysis of why this trade arrangement would be detrimental to the U.S. economy.
PNTR with China
The Clinton Administration and the Republican congressional leadership are urging Congress to ratify the trade and investment pact the administration recently negotiated with China. If approved, China would gain Permanent Normal Trade Relations status and Congress would thereby surrender its existing right to an annual review and renewal of trade relations with China. Without such powers, the United States will lose its most important form of non-military leverage in its complex relationship with the authoritarian and unpredictable Chinese regime. For a full analysis of the issues, read EPI President Jeff Faux's Briefing Paper, PNTR with China: Economic and political costs greatly outweigh benefits.
China and the States
If PNTR for China is approved by Congress, a projection of trade trends over the next decade shows that the trade deficit will expand, resulting in sizeable job losses in every state and in virtually every sector of the economy. The absolute level of the U.S. trade deficit with China will increase by at least 80% between 1999 and 2010, eliminating 872,091 jobs. A full analysis can be found online in EPI economist Robert E. Scott's Briefing Paper, China and the States.
The facts about trade and job creation
It has become commonplace for public officials to claim that trade has contributed to job creation in the United States during the Clinton presidency when, in fact, the effect of trade on job growth during this expansion has been negative, not positive. EPI economist Robert E. Scott provides a clear-headed analysis of these trends in the Issue Brief, The Facts About Trade and Job Creation.
U.S. investment in China worsens trade deficit
Despite China's disregard for basic human rights and labor standards and its unwillingness to open its markets to U.S. goods, the Clinton Administration is currently pushing Congress to approve a trade deal that would grant China permanent normal trade relations (PNTR) status, paving China's way into the World Trade Organization. But this pact is as much about making it easier for U.S. multinationals to invest and operate in China as it is about trade. To learn more about the detrimental effects such events would have on the U.S. trade deficit and high-wage domestic jobs, read the EPI Briefing Paper, U.S. investment in China worsens trade deficit, by James Burke.
Runaway trade
How will the U.S.-China trade balance be affected in the long run if China gains entry to the World Trade Organization? Get the facts at a glance in the Economic Snapshot for May 24, 2000.
Op-eds on PNTR for China
EPI President Jeff Faux writes about permanent normal trade relations with China in The Detroit News and the American Prospect and economist Robert E. Scott explains who really stands to gain from the deal in the Charleston Gazette. Read these and other op-eds in Viewpoints.
50 lost opportunities
The Department of Commerce's "opportunity reports" used by the proponents of PNTR for China suffer from many flaws: (1) they completely overlook the impact of imports from China on U.S. employment; (2) they tell almost exactly the same story for every state; and (3) they egregiously exaggerate the importance of exports to China for U.S. small business. Read the full analysis in EPI's Issue Brief, 50 Lost Opportunities.
Rethinking the global financial architecture
As the World Bank and the International Monetary Fund meetings convene, EPI releases two Issue Briefs on the global financial architecture. The first, Meltzer Report Misses the Mark, argues that the Meltzer commission's recommendations for the World Bank and IMF need further consideration. The second Issue Brief, Banking on Multinationals, argues that the increased competition from large foreign lenders threatens domestic banks and increases financial instability in developing countries.
Slouching toward Seattle
With the relentless merging of the world's markets, the WTO ministerial conference in Seattle begs the question "What global politics will emerge to match the new global economy?" Get EPI President Jeff Faux's thoughts on this subject in his article, Slouching toward Seattle, appearing in the December 6 issue of The American Prospect.
Op-ed on WTO in Viewpoints
The participants in WTO's forum must begin to address the imbalance between multinational corporate power and the economic security of families across the nation. For a better understanding of why this is important and how it can be accomplished, read the op-ed, What WTO means for working families, in Viewpoints.
Exported to death
Read EPI's latest Briefing Paper, Exported to Death: The Failure of Agricultural Deregulation, for an insightful analysis of how the 1996 Farm Bill and unstable global markets have hurt family farmers' incomes and the real prices of basic farm products.
The ticking debt bomb
With all the good news about the economy, its no surprise that certain worrisome economic indicators, specifically the rising trade balance and mushrooming foreign debt, don't get much attention. But the U.S. economy's current prosperity rests on a fragile foundation, and if these warning signals go unheeded, the economic boom will come crashing to a halt in the not-so-distant future. Get a sense of the seriousness of this problem and how it can be addressed in EPI visiting fellow Robert Blecker's Briefing Paper, The Ticking Debt Bomb: Why the U.S. International Financial Position Is Not Sustainable.
Protecting worker rights around the world
In order to guarantee that international worker rights are protected in existing and future multilateral trade and investment agreements, the U.S. government must take action with respect to bilateral agreements and its participation in international trade and finance agencies. For a better understanding of the obstacles and what can be done to overcome them, check out EPI's Briefing Paper, Certifying International Worker Rights: A Practical Alternative. (Press release also available online.)
China can wait
In EPI's latest Briefing Paper, China Can Wait, EPI economist Robert E. Scott explains how the deal outlined by the U.S. trade representative to bring China into the World Trade Organization would primarily benefit U.S. companies that invest in China while harming workers in both countries. A better deal would (1) oppose China's WTO membership until China agrees to include enforce-able labor rights and environmental standards as core elements of the agreement; (2) assure that the agreement delivers quantifiable commercial benefits; and (3) require that it incorporate a clearly defined multilateral mechanism for enforcement.
Taming Global Finance
EPI's latest book, Taming Global Finance by Robert Blecker, examines the impact of capital market liberalization and finds that it has created mucheconomic instability and has failed to deliver on the promise of increased growth. Blecker concludes that a better architecture must include policies such as regulating capital flows, reforming the IMF, stabilizing exchange rates, and coordinating macroeconomic policies. Read the Executive Summary or the press release online.
China's loss, workers' gain
For a better understanding of why Clinton was right to oppose China's bid for admittance to the World Trade Organization, read EPI economist Rob Scott's op-ed, China's WTO Setback: A Victory for Workers, published on April 16 in the Erie Morning News.
A better plan for Caribbean relief
Recovering from Hurricane Mitch won't be easy for Central America and the Caribbean Islands, but the relief plans being considered by the U.S., especially those that focus on liberalized trade, will only set the region up for future failure. To find out why the existing relief plans fall short and what needs to happen for the region to gain lasting stability, download EPI's latest Briefing Paper, Rebuilding the Caribbean: A Better Foundation for Sustainable Growth, in PDF format.
Testimony on trade
Read EPI economist Robert Scott's testimony, The U.S. Trade Deficit: Are We Giving Away Our Future?, presented to a subcommittee of the House Committee on International Relations on July 22, 1999.
A simple way to save the yen
If the U.S. wants to help Japan prevent the yen from falling to levels that would undermine U.S. competitiveness and threaten American jobs, it might consider this quick fix: cut U.S. interest rates by half a point. For the full story, read the issue brief, Cut U.S. interest rates now.
Bad deal for Africa
The Sub-Saharan trade bill is the latest in a series of attempts to change the rules of trade to benefit multinational investors at the expense of workers in the United States and abroad. For more, read the policy statement, Who wins from the Sub-Saharan Africa trade proposal?
Viewpoints on trade and globalization
Read opinion pieces written by EPI staff and associates dealing with trade and globalization in Viewpoints.
