International Economics: IB Economics

The Observer looks at the potential impact of a lengthy trade war: not good. Quite why they bother, given that they're 'easy to win', is beyond me. 

The much-heralded next round of tariffs has been imposed: watch this space.

Here we go again!

Although I'm grateful that the President says nothing more complex than "ready to go". My Twitter feed has just suggested that he's got enough difficulty with longer words, like 'anonymous'.

Meanwhile, Round 3 waits in the wings.

A microcosm of the ongoing trade war - a vessel called the Peak Pegasus is circling off the coast  of China, having been unable to unload its cargo of soya beans. The reason for this is because it failed to unload prior to the first round of tariffs and ever since then it's been stuck in limbo, waiting to see how the situation will develop. 

Easy to win, apparently.

This article looks at the distributional effects of the ongoing US-China trade war - who wins, who loses and the ratcheting up of tariffs by both sides. 

Easy to win, apparently. 

Here we go again. The Americans are thinking about increasing tariffs on imports of Chinese goods from 10% to 25%.

Just remember: easy to win.

Here we go again....

Definitely a chance of the "statement of the bleedin' obvious award" for this - tariffs are slowing productivity and driving up costs.

Who would have thought it? 

If you are interested in the difference between 'good' and 'bad' economics, then this is the article for you. President Trump expands upon his reasons for the latest round of tariffs.

One assumes that lavish protection of US farmers is neither an 'unfair policy' or 'practice'.

Round three, or is it four, I've lost count/interest.

The US is reported to be thinking about another $200bn worth of tariffs and the President seems convinced he's winning the trade war. I have to say, I'm underwhelmed by the size of the 'improvement' in the US trade deficit and the 'remarkable' rate of both reshoring and job creation.

It would be interesting to hear the President quantify the gains from his trade policy. 

I'm not sure what round it is, but the Chinese will retaliate if the US imposes yet more tariffs on Chinese goods.

And remember, the President himself said that a trade war was "easy to win".

Quite what anonymous senior White House officials make of this, I do not know, although they appear to want to sign letters that have been drafted for them by the President's staff in droves.

A second round of US tariffs on $16bn of Chinese goods - with no-one really gaining other than superficially.

Easy to win, apparently. Let's hope that the same is true of legal cases and impeachment proceedings. 

Really interesting little footnote to all the ongoing trade dispute material out there; as yet there doesn't seem to have been that much of an effect upon export values. However, think about this - isn't it an application of the J-curve - in that any reaction of export/import volumes is likely to be long-term because of the inelasticity of demand for exports and imports. 

But will there be a reaction in the longer term? We shall see. 

The BBC World Service looks at the US-China trade war. Let's gloss over the utterly inappropriate verb used to describe China's actions towards the US and the description of the President as a "brilliant businessman".

What is the outcome likely to be? Good? For who? For anyone? It depends upon who you listen to - but the vast majority of commentators don't think that the trade war will be beneficial.

Let retaliation commence - the Chinese file a complaint to the WTO after the latest round of American tariffs. Easy to win, remember. 

Another day - yet more Economics!

Let the trade war commence, as China and Russia seek to counter US protectionism, via complaining to the WTO, and tariffs of their own.