International Economics: IB Economics
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International Economics: IB Economics
Economy
A collection of articles relating to the 'international' elements of Economics and relating to IB, Pre-U and A-Level Economics.
Curated by Graham Watson
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Scooped by Graham Watson
March 27, 2018 2:31 AM
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Kenya’s Entrepreneurial Explosion

From www.youtube.com - March 25, 2018 6:00 PM

10,000 miles outside Silicon Valley, start-ups are booming in Nairobi, Kenya. Take a tour of Nairobi Garage – Africa’s largest co-working space – and see for yourself

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Entrepreneurship is vital to a growing economy, and this International Finance Corporation clip highlights the fact that digital entrepreneurs are playing a growing role in the development of Kenya.
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Scooped by Graham Watson
March 26, 2018 2:02 AM
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Former Bank of England guru warns Trump’s ‘economic madness’ will lead world into recession

Former Bank of England guru warns Trump’s ‘economic madness’ will lead world into recession | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 25, 2018 1:59 AM
Donald Trump’s “economic madness” will push the US into a sharp ­recession that risks dragging the rest of the world down with it, one of Britain’s most senior economists has warned.
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Graham Watson's insight:
A sober assessment of the impact of Trumponomics from a former Bank of England policymaker. Alas, to people with a degree of sense, this sort of thing comes as no surprise. But are we being fooled by our cognitive biases into favouring this view. It is clear that the President has little to commend him as either human being or President, and we're all desperately keen for him to fail - or be impeached - so whilst I'd like to agree with the story, I confess that I'm also sceptical too.
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Scooped by Graham Watson
March 24, 2018 2:48 AM
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Donald Trump to impose tariffs on $60bn of Chinese imports

From www.youtube.com - March 22, 2018 7:00 PM

US President Donald Trump announced plans for tariffs of 25% on up to $60bn in Chinese imports, heightening fears of a trade war between the world’s two largest economies and sending US stocks sharply lower.

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President Trump outlines the reasons for his introduction of $60bn worth of tariffs on China. Except that it isn't - other than suggesting that China doesn't respect intellectual property rights (IPRs) and that this is a way to correct the US trade deficit, both with China and the rest of the world. 

He has some sort of point with the first argument. But that second, whilst appealing to his political supporters, just isn't good economics.
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Scooped by Graham Watson
March 22, 2018 4:52 PM
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A trade war would be bad, but Trump does have a point | US news | The Guardian

A trade war would be bad, but Trump does have a point | US news | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 22, 2018 3:14 PM
China has been flouting intellectual property rules and it does has more to lose
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Nils Pratley's business briefs are always informative: the first part of this is very good, and gives a rationale for the latest US tariffs on Chinese exports. 
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Scooped by Graham Watson
March 22, 2018 4:25 PM
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Trump reveals $60bn of fresh tariffs on China as EU wins reprieve | Business | The Guardian

Trump reveals $60bn of fresh tariffs on China as EU wins reprieve | Business | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 22, 2018 3:10 PM
US president calls on Brussels to respond in kind to temporary amnesty, while move against Beijing hits stock markets
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Graham Watson's insight:
More on the latest round of tariffs imposed by the US, this time against China. I love the fact that the President argues that the "US trade deficit with Beijing was out of control at about $504bn" without accepting any Us responsibility for this. 

I'm a simple fellow. However, I suspect that this particular trait is a long-standing one as far as the President is concerned. 
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Scooped by Graham Watson
March 22, 2018 4:21 AM
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EU leaders remain hopeful that Trump will grant them an exemption to US trade tariffs

EU leaders remain hopeful that Trump will grant them an exemption to US trade tariffs | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 22, 2018 4:19 AM
EU leaders will looking to avoid a full-blown confrontation over trade with the Trump administration today, as efforts continue to broker an EU exemption from looming US steel and aluminium tariffs, EU sources said.
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Graham Watson's insight:
More on US tariffs: we're not in on the deal, but we're 'hopeful' of exemptions. This is the world we live in. 'Hopeful'.

Are there any more straws that we can clutch at?
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Scooped by Graham Watson
March 22, 2018 4:15 AM
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EU unveils digital tax on tech giants

From www.youtube.com - March 20, 2018 7:00 PM
The European Commission has revealed its plan for a 3% tax on the revenues of big technology groups in response to pressure from EU governments, which wan
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Graham Watson's insight:
The FT looks at the proposed 'digital tax' to be levied on giant tech companies. However, in watching the clip, I think I've discovered an obvious loophole. I suspect that the first thing the big tech companies will do is split themselves up into lots of smaller service providers, creating 'national' companies and argue that they are no longer the behemoths that they once were. I'm sure that the EU will have thought of this, but cue legal wrangling and the only winners? Lawyers. 
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Scooped by Graham Watson
March 21, 2018 4:46 PM
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EU launches £4.4bn tax raid on tech giants

EU launches £4.4bn tax raid on tech giants | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 21, 2018 4:40 PM

The world’s biggest technology firms face an extra €5bn (£4.4bn) tax bill each year to operate in the EU as governments face an "even-bigger black hole" in their finances.

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Graham Watson's insight:
The EU has decided to crack down on tech firms, introducing what it calls an interim tax for digital activities. The tax is designed to compensate for the fact that “Our pre-internet rules do not allow our member states to tax digital companies operating in Europe when they have little or no physical presence here” and instead is looking to tax companies "with global revenues of more than €750m and EU revenues above €50m"  at 3% on their total revenues.

It's unusual: it's not a perfect theoretical solution, but it's an attempt to try and claw back some of the tax revenues that more conventional firms pay, and that they feel their digital rivals get away with not paying. 
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Scooped by Graham Watson
March 18, 2018 10:19 AM
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'Trump’s agenda is anti-growth': Trump's new economic adviser in his own words | US news | The Guardian

'Trump’s agenda is anti-growth': Trump's new economic adviser in his own words | US news | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 15, 2018 12:15 PM
Larry Kudlow, Trump’s pick as chief economic adviser, has a history of radically different views to the president’s on the economy
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The Guardian covers the appointment of President Trump's latest economic advisor, Larry Kudlow, and suggests that perhaps he's not the best economic forecaster. Or the best appointment. 
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Scooped by Graham Watson
March 18, 2018 4:13 AM
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Finland’s story shows equality is the best route to happiness | Business | The Guardian

Finland’s story shows equality is the best route to happiness | Business | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 17, 2018 12:34 PM
The country named the world’s happiest in a UN report was relatively slow to recover after the financial crisis
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Graham Watson's insight:
A thought-provoking business leader: they've never had it so good, the Finns, as the UN World Happiness Report named them the happiest nation on the planet. 

This Guardian article looks at why that might be, attributing it to the emphasis placed on gender equality and the resilience of an economy that has seen established firms like Nokia collapse and newcomers, like games studio, Supercell, take their place.

Factor in a much vaunted - probably overly-so - school system, and high levels of R&D, and it seems the Finns have cracked 'happiness' - whatever that may be. It would seem to revolve around very cold, dark winters, saunas and the thwack of birch tiwgs. 
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Scooped by Graham Watson
March 17, 2018 4:15 AM
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Vanilla pod farmer: 'Timing is everything'

Vanilla pod farmer: 'Timing is everything' | International Economics: IB Economics | Scoop.it
From www.bbc.co.uk - March 16, 2018 8:44 AM
Known for its sugarcane, Mauritius has also starting farming the more challenging vanilla crop.
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An interesting look at the growth of the vanilla industry on the island of Mauritius, which started by looking at the long leadtime - it takes 5 years before a vanilla orchid starts bearing vanilla pods.

However, vanilla is a luxury good, and as a consequence, it will account for a higher proportion of global income over time, especially when its added to rum, another luxury good. However, the development of both markets could potentially enhance development.
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Scooped by Graham Watson
March 15, 2018 11:28 AM
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Donald Trump-inspired trade war risks de-railing world economy, IMF warns

Donald Trump-inspired trade war risks de-railing world economy, IMF warns | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 15, 2018 11:26 AM
World leaders have been warned that a Donald Trump-inspired trade war could trash the global economic recovery with protectionist policies tearing up global supply chains and killing off the green shoots of productivity growth.
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Graham Watson's insight:
Christine Lagarde clearly isn't on the White House Christmas card list, after suggesting that a Trump-inspired trade war poses a serious threat to global economic health.

Yes, there's a multiplier effect in there somewhere.
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Scooped by Graham Watson
March 14, 2018 3:02 PM
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Water’s Promise: Making Every Drop Count

From www.youtube.com - March 13, 2018 7:00 PM

Today, 40% of the world’s people are affected by water scarcity. To change the future of water, we must rethink how to understand, value and manage water as a precious resource. 

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Graham Watson's insight:
This World Bank clip looks at Sustainable Development Goal 6 - ensuring "sustainable management of water and sanitation for all". It highlights the fact that water is an increasingly scarce resource, as high profile droughts, such as that affecting Cape Town have indicated, and the need for a concerted effort to value and manage water appropriately in a world where 40% of the global population are affected by water scarcity. 
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Scooped by Graham Watson
March 26, 2018 9:51 AM
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Paper tigers? US and China in dispute over tariffs but trade war looks remote | Business | The Guardian

Paper tigers? US and China in dispute over tariffs but trade war looks remote | Business | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 25, 2018 8:00 AM
Trump made a big play of slapping tariffs on Chinese imports, but experts say neither side will risk escalating the current spat
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Graham Watson's insight:
The Guardian argues that, although the rhetoric is incendiary, the likelihood of a full-blown trade war between the US and China is unlikely, because it isn't in anyone's interest. Let's hope they are right.  
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Scooped by Graham Watson
March 24, 2018 2:51 AM
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Trump accused of ‘putting gun to EU’s head’ as trade fears mount

Trump accused of ‘putting gun to EU’s head’ as trade fears mount | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 23, 2018 2:49 AM
Stock markets dived again on Friday as Donald Trump faced a barrage of criticism for launching a $60bn (£42bn) package of tariffs on Chinese goods, sparking fears of a global trade war.
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It seems that the EU is bracing itself for a trade war.
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Scooped by Graham Watson
March 23, 2018 3:41 AM
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China 'not afraid of a trade war'

China 'not afraid of a trade war' | International Economics: IB Economics | Scoop.it
From www.bbc.co.uk - March 23, 2018 3:40 AM
Beijing says it firmly opposes new US tariffs and that it is capable of meeting any challenge.
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Let the games begin!
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Scooped by Graham Watson
March 22, 2018 4:27 PM
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Trump's China tariffs risk 'tit-for-tat protectionism' that threatens world economy | US news | The Guardian

Trump's China tariffs risk 'tit-for-tat protectionism' that threatens world economy | US news | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 22, 2018 3:38 PM
Experts say US and Chinese consumers will see higher prices – and fear other countries will be dragged in to the dispute
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Graham Watson's insight:
Hurrah! 

A trade war looms: easy to win, apparently.
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Scooped by Graham Watson
March 22, 2018 3:43 PM
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EU and six other countries exempted from US metals tariffs

EU and six other countries exempted from US metals tariffs | International Economics: IB Economics | Scoop.it
From www.bbc.co.uk - March 22, 2018 3:41 PM
The US trade representative says the import duties have been "paused" while further talks take place.
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Graham Watson's insight:
Good oh! The EU and six other economies have been excused from the recently-introduced steel and aluminium tariffs. That, at least, is a good thing. However, isn't it nice to have our trade policy dictated by the whims of President Trump.

I'm looking forward to fiscal and monetary policy being determined on the same basis. 
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Scooped by Graham Watson
March 22, 2018 4:19 AM
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Walking for Water in Rural Papua New Guinea: Rendela’s Story

From www.youtube.com - March 20, 2018 7:00 PM

Walk in the shoes of 13-year old Rendela in Papua New Guinea, who wakes before dawn and often misses school to collect fresh water for her family. 

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Graham Watson's insight:
A poignant developmental clip that shows how the lack of fresh water, and the fact that women and children are often delegated to collect drinking water perpetuates gender equality and deprives some of the world's poor of education , adversely affects developmental outcomes. 
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Scooped by Graham Watson
March 22, 2018 2:48 AM
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Trump set to announce China sanctions after IP probe

Trump set to announce China sanctions after IP probe | International Economics: IB Economics | Scoop.it
From www.bbc.co.uk - March 22, 2018 2:43 AM
The White House says its investigation finds that China encourages the theft or transfer of intellectual property.
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Graham Watson's insight:
One of the worst kept secrets in the world looks likely to come to pass: President Trump is going to introduce protectionist measures against China, retaliating to the theft of intellectual property. What are the likely implications of this? 

It's a fascinating example of the conduct of policy in a post-truth world. Economists are going to tell us that this is likely to impose a number of costs, and that further rounds of retaliation, or a full-scale trade war are going to further damage economic welfare. 

However, that's not going to be the angle rolled out by the Trump team who know that this sort of thing will no doubt play well with their core electorate: we are punishing China for 'unfair' trade practices, we are protecting American jobs - although probably very few - and we are 'taking back control'. The latter might sound familiar. But it's not good economics, and as 'experts' we have a duty to deconstruct this in an era where experts aren't in fashion. 

Heaven forbid, these even a non-expert in the Oval Office.
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March 21, 2018 4:39 PM
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Could ACFTA free trade deal be a new dawn for Africa? - BBC News

From www.youtube.com - March 20, 2018 7:00 PM

As African heads of state sign the first continent wide free trade deal, what will it mean for the people that live there? The BBC's Nancy Kacungira explains.

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Graham Watson's insight:
It seems like Africa is on the brink of its first continental-wide free trade deal, with almost all nations about to sign up to the African Continental Free Trade Area (ACFTA) looking to foster intra-African trade.

As a point of comparison, around 70% of EU trade is intra-EU trade. However, in Africa the figure is only 16% and a free trade area is likely to boost that, raising living standards and welfare as a result of trade creation. 
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Scooped by Graham Watson
March 18, 2018 10:16 AM
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Trump is on path to full-scale trade war: first China, then Europe | Business | The Guardian

Trump is on path to full-scale trade war: first China, then Europe | Business | The Guardian | International Economics: IB Economics | Scoop.it
From www.theguardian.com - March 18, 2018 7:54 AM
US protectionism is in accord with the spirit of the times – but it won’t have a happy ending
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Graham Watson's insight:
Larry Elliott argues that the logical conclusion of President Trump's trade policy is a full-scale trade war, and that the net result isn't a good one. For any of us. 
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Scooped by Graham Watson
March 17, 2018 4:29 AM
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EU prepares sweeping tariffs on hundreds of US imports from cranberries to motorboats

EU prepares sweeping tariffs on hundreds of US imports from cranberries to motorboats | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 16, 2018 4:26 AM
A major trade war could be in the offing as the EU strikes back against US tariffs with threats to slap import taxes on hundreds of major US products.
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Graham Watson's insight:
Here comes the retaliation: the EU are planning to retaliate against the US tariffs on steel and aluminium with a raft of tariffs on an array of American produce. President Trump has claimed that “trade wars are good, and easy to win” - let's see shall we.
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Scooped by Graham Watson
March 16, 2018 4:02 AM
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New World Bank Country Partnership Framework for Tanzania

From www.youtube.com - March 14, 2018 7:00 PM
Over the past decade, Tanzania has registered significant gains in poverty reduction with the headcount poverty rate falling from 34 to 28 percent between 2007 and 2012. The World Bank Country Partnership Framework (2018-2022) will support Tanzania’s ambitious agenda for industrialization, economic growth, and human development as laid out in the Second Five-Year Development Plan and Zanzibar’s Strategy for Growth and Reduction of Poverty.
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Graham Watson's insight:
This World Bank clip quantifies the rapid development of Tanzania in the past decade, highlighting the improvement in a number of development outcomes. and the progress that still needs to be made to tackle poverty. It's a good country example of the nature of development, and how international efforts can help overcome some of the problems facing East Africa's largest economy.
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Scooped by Graham Watson
March 15, 2018 4:30 AM
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Immigration does not make local people less happy, world happiness rankings reveal

Immigration does not make local people less happy, world happiness rankings reveal | International Economics: IB Economics | Scoop.it
From www.telegraph.co.uk - March 14, 2018 4:28 AM
Immigration does not damage the average happiness of local people and migrants themselves become as happy as the nation they move to, according to a ground-breaking new study compiled by economists and backed by the United Nations.
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Graham Watson's insight:
Interesting findings in the World Happiness Report backed by the United Nations: immigration doesn't adversely affect happiness. 

It's not a surprise to me, but it might be to some. Immigration makes for diversity, and is likely to boost growth. What are immigrants, if they're not risk-takers?
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