Year 2 Macro - Globalisation, Trade and Protectionism
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Thank Fathom it's Friday - Pity the poor cork manufacturers | Fathom Consulting

Thank Fathom it's Friday - Pity the poor cork manufacturers | Fathom Consulting | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Ben Christopher's insight:
It is nigh on 200 years since David Ricardo first set out his theory of comparative advantage in his classic work ‘On the principles of political economy and taxation’. Since that time it has been a unifying belief among economists that a country should channel its resources into producing only those goods and services in which it has a comparative advantage, exporting whatever it does not need around the world.
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Why is globalisation under attack? - BBC News

Why is globalisation under attack? - BBC News | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
There has long been a consensus that globalisation brings more jobs, higher wages and lower prices - but now many people are voicing their anger against free trade.
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Jam tomorrow: The meaning of non-tariff trade barriers - John Kay

Jam tomorrow: The meaning of non-tariff trade barriers - John Kay | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
The reality of Brexit and trade negotiations is a review of the rules governing myriads of individual products in mind-numbing detail. Those who thought Brexit meant less regulation, less bureaucracy, fewer civil servants, are in for a surprise.
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Mexico and Canada can impose $1bn in tariffs on US for meat labels, WTO rules

Mexico and Canada can impose $1bn in tariffs on US for meat labels, WTO rules | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
The World Trade Organization said US law of putting country of origin on packaged meats discriminates against North American trade partners
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Globalisation and anti-globalisation voters: Evidence from Germany | VOX, CEPR’s Policy Portal

Globalisation and anti-globalisation voters: Evidence from Germany | VOX, CEPR’s Policy Portal | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Both economic theory and empirical research largely agree that international economic integration has positive aggregate welfare effects. Still, globalisation creates distributional frictions between winners and losers. Economic research so far has concentrated on labour market effects of increasing international trade (Autor et al. 2013, Dauth et al. 2014, Pierce and Schott 2016).
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China's Export Machine Is Grabbing More of the Global Market

China's Export Machine Is Grabbing More of the Global Market | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
China is eating up a larger chunk of the world’s shrinking trade pie.
Ben Christopher's insight:
Geoff Riley's insight: This article is a reminder of the dynamic nature of comparative advantage and the signs already becoming apparent of the shift in emphasis in Chinese trade policy away from Made in China to Made by China. The nation is looking for a move towards higher value-added export industries encompassing deeper levels of knowledge and capability. Increasingly China's major export competitors will become Germany, South Korea and other advanced countries with a high level of economic complexity.
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The Economics of Brexit - YouTube

The Economics of Brexit - YouTube | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
What do economists think of Brexit? We've made a range of videos with leading experts on the facts behind the politics.
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This is the essay on corruption that Cameron didn't want you to read

This is the essay on corruption that Cameron didn't want you to read | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
How can the international system do more to tackle corruption?

At least until the recent scandals in football and athletics, most people would I suspect judge that the worst corruption in the world is a problem of bad governments in developing countries. Indeed, Transparency International’s (TI) “Corruption Perception Index” finds countries of the south consistently at the bottom levels of the Index; though TI explicitly recognises that the north is partly responsible for the corruption of the south as a bribe payer.
Ben Christopher's insight:
A key inhibitor of development is corruption but as this piece shows, it's not just the bane of the developing world!
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US paves way to raise duties on Chinese steel - FT.com

US paves way to raise duties on Chinese steel - FT.com | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
The US has paved the way for the imposition of duties of as much as 500 per cent on Chinese cold-rolled steel, used to make cars and washing machines, as a backlash escalates against a glut of Chinese steel flooding global markets. The US Department
Ben Christopher's insight:
can you draw the analysis diagram and evaluate possible unintended consequences?
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UK jobs and the EU

UK jobs and the EU | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Now that the EU referendum has been set for June 23rd, we will be bringing you new factchecks and explainers on topics ranging from immigration t
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Cadbury owner ‘paid no tax in Britain’ for last five years

Cadbury owner ‘paid no tax in Britain’ for last five years | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
The US company that owns Cadbury UK is still not paying corporate tax in Britain, it has emerged.

Mondelez International, formerly known as Kraft Foods, has lawfully avoided paying tens of millions of pounds in corporation tax since it acquired the chocolate manufacturer for £11.5bn five years ago, a Sunday Times investigation revealed.
Ben Christopher's insight:
Transfer pricing at its finest
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What do trade agreements do? - BBC News

What do trade agreements do? - BBC News | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
The Trans-Pacific Partnership (TPP) is the biggest trade agreement signed to date - but what other deals are out there and do the benefits stack up?
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Adam Massoud's curator insight, September 14, 3:50 PM
The fact that there are now 625 trade agreements in place shows the extent to which international trade has grown. This is an indicator of globalisation; the international trade industry is highly globalised, requiring co-operation between nations in order to function. Indeed, the article states that the aim of an international trade agreement is “reducing or even removing barriers to trade across international borders”, which displays the globalised nature of international trade and international trade agreements. Furthermore the article explains the role of the WTO in breaking down international trade barriers. The existence and operation of the WTO is another example of globalisation – large intergovernmental organisations such as the WTO are often considered to be a feature of globalisation as they involve the promotion of international relations. 
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Is international trade always good for the economy? - BBC News

Is international trade always good for the economy? - BBC News | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Colm O'Regan reports on the global rise in protectionist sentiment.
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Watch Nobel Prize-winning economist Joseph Stiglitz explain globalization in three minutes

Watch Nobel Prize-winning economist Joseph Stiglitz explain globalization in three minutes | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Watch Nobel Prize-winning economist Joseph Stiglitz explain a contested and complex phenomenon: globalization.
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Bitesize: Mapping the UK’s trade

Bitesize: Mapping the UK’s trade | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Jonathan Fullwood. With trade negotiations apparently looming, one may wonder with whom the UK trades most. Given the geospatial aspect of the data, perhaps a map may help. Even better, how about a cartogram? Cartograms can be formed by distorting a map so that the areas of countries correspond to the relative values of some…
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British Expats Are Suing European Commission President Jean-Claude Juncker

British Expats Are Suing European Commission President Jean-Claude Juncker | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
They are not happy how things have gone since we voted for Brexit.
Ben Christopher's insight:
Interesting development
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Imagine Inclusive Trade

What if trade was truly inclusive? Learn more: https://www.wto.org/english/forums_e/public_forum16_e/public_forum16_e.htm
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What Next? Economics After Brexit

What are economists saying since the Brexit vote? We asked 16 economists - here is a 2-minute summary. Full Interviews - Econ After Brexi
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Key insights:
The UK needs to stay part of the European Single Market, otherwise services trade is at risk - particularly financial services. But there is a stalemate: The Single Market vs. Free Movement of People. The EU may be willing to compromise on the free movement of people as EU politics is getting complicated. But this will take time and is uncertain. To deal with the uncertainty, the UK might consider a temporary fix whereby the UK adopts a Norway-style relationship with the EU until a new deal can be agreed. Whatever the outcome of negotiations, the UK should not overlook a major cause of the Brexit vote: the inequality caused by globalisation. Unless there are policies to address some of the inequality caused by trade, there is the risk that many people who voted to leave because they feel left behind could be left even further behind as the UK seeks greater free trade with the rest of the world.
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TPP? RCEP? Trade jargon explained - BBC News

TPP? RCEP? Trade jargon explained - BBC News | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Karishma Vaswani explains some of the trade deals - and the jargon behind them - that will be discussed at the Asean summit this week.
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Letter to friends: this is why I will vote Remain in the referendum

Letter to friends: this is why I will vote Remain in the referendum | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
 The LSE’s Nicholas Barr explains why he will be voting to Remain in the EU referendum – citing a wide range of arguments about sovereignty, migration, international influence, regulati…
Ben Christopher's insight:
Best argument yet to REMAIN
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Brexit - YouTube

Brexit - YouTube | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
What do economists think of Brexit? We've made a range of videos with leading experts on the facts behind the politics.
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This is an incredible visualization of the world's shipping routes

This is an incredible visualization of the world's shipping routes | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
Ships carry 11 billion tons of goods each year. This interactive map shows where they all go.
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Oscar Middleton's curator insight, September 15, 3:01 AM
This article outlines some key features of globalisation through various indictors. Firstly, the shipping routes show how the world is so connected, far more so than it would have been before real globalisation had taken place. The network of ship routes clearly depicts a connected globe, clearly showing the effect of globalisation. Furthermore, the article also makes note of the fact that South East Asia, an area of key globalisation, has a 'major shipping choke point'. This shows the effect that globalisation has had on area's such as South East Asia as it has become such an important area for trade, depicted by the high volumes of ships in the area. Ports such as Hong Kong and Tokyo have become so large, it shows how globalised the world has become as they play such important roles in connecting the worlds shipping routes.
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Tata Steel: 'All options' considered for Port Talbot - BBC News

Tata Steel: 'All options' considered for Port Talbot - BBC News | Year 2 Macro - Globalisation, Trade and Protectionism | Scoop.it
The government is considering 'all options' for Tata's Port Talbot plant, after the company says it plans to sell its loss-making UK business.
Ben Christopher's insight:
Protectionism,Eco Slowdown, Nationalisation,Structural Unemployment,Negative Multiplier just some of the relevant theory.
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What would Brexit mean for UK business? | FT Business

UK companies are grappling with the prospect of Britain voting to leave the EU. FT business editor Sarah Gordon speaks to Airbus and other companies around t...
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