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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution Peterson Institute for International Economics Remove constraint Publishing Institution: Peterson Institute for International Economics Political Geography United States Remove constraint Political Geography: United States
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  • Author: Nicholas R. Lardy
  • Publication Date: 10-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In December 2004 China's top political leadership agreed to fundamentally alter the country's growth strategy. In place of investment and export-led development, they endorsed transitioning to a growth path that relied more on expanding domestic consumption. Since 2004, China's top leadership, most notably Premier Wen Jiaobao in his speech to the National People's Congress in the spring of 2006, has reiterated the goal of strengthening domestic consumption as a major source of economic growth. This policy brief examines the reasons underlying the leadership decision, the implications of this transition for the United States and the global economy, and the steps that have been taken to embark on the new growth path.
  • Topic: International Relations, Development, Economics
  • Political Geography: United States, China, Asia
  • Author: Kimberly Elliott
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: The Doha Round of multilateral trade negotiations, so named because it was launched in the Qatari capital, is in deep trouble. Negotiators have yet to meet any of the interim deadlines for completing the talks, and they missed another at the end of April 2006. While it is still possible to finish the round by early 2007, the odds are diminishing by the day, and this deadline matters more than most. Trade promotion authority (TPA) in the United States will expire in June 2007, and if the round does not make significant progress before then, TPA might not be renewed, and the round would likely drag on for several more years.
  • Topic: Economics, International Organization, International Trade and Finance, Political Economy
  • Political Geography: United States
  • Author: Jeffrey J. Schott, Scott C. Bradford, Thomas Moll
  • Publication Date: 06-2006
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Five years ago the Institute published Free Trade between Korea and the United States? by Inbom Choi and Jeffrey J. Schott, which analyzed the potential benefits and costs of pursuing a bilateral free trade agreement (FTA). At the time, neither government had vetted the idea in bilateral consultations, though some business groups in each country—and some members of the US Congress—had voiced support for deepening US-Korea economic ties through an FTA.
  • Topic: Economics, International Organization, Political Economy
  • Political Geography: United States, Asia, Korea
  • Author: John Williamson
  • Publication Date: 08-2005
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: China recently announced that it is adopting a basket of currencies as the peg for its exchange rate instead of the US dollar. This announcement raises questions of how such a system works, whether other East Asian countries would be advised to follow China in adopting a basket numeraire, and whether it would be advantageous to these countries if they were all to adopt the same basket. This brief answers these questions.
  • Topic: Economics, International Cooperation, International Trade and Finance
  • Political Geography: United States, Israel, East Asia, Asia
  • Author: Gary Clyde Hufbauer, Paul Grieco
  • Publication Date: 04-2004
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Senator John Kerry has proposed a major overhaul in corporate taxation, with the goal of persuading multinational companies (MNCs) to employ more workers at home and fewer abroad. Kerry has correctly emphasized that domestic production is often taxed at a higher rate than production abroad, but his prescriptions will not boost US jobs.
  • Topic: Development, Globalization, International Trade and Finance
  • Political Geography: United States, South America, Central America, Caribbean, North America
  • Author: Catherine L. Mann
  • Publication Date: 12-2003
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Businesses throughout the US economy continue to transform even after the technology boom has faded. The key sources of this continuing transformation are investment in the information technology (IT) package (hardware, software, and business-service applications) and reorientation of business activities and processes to use both information and technology effectively.
  • Topic: Economics, Globalization, International Trade and Finance, Science and Technology
  • Political Geography: United States
  • Author: Gary Clyde Hufbauer, Ben Goodrich
  • Publication Date: 10-2003
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: In May 2003, the World Trade Organization (WTO) dispute panel ruled that US steel safeguards imposed in March 2002 are illegal. The WTO Appellate Body is all but certain to confirm the panel's judgment, probably by December 2003. Then the Bush administration will face an important choice. It can keep the safeguards in place, pleasing steel producers and important constituencies in West Virginia, Pennsylvania, and Ohio. However, doing so would further anger steel users, who have probably lost more business and jobs as a direct consequence of the safeguards than steel producers have gained. Maintaining the safeguards would also send a signal to the world's trading nations that the United States is not prepared to endure the political cost of eliminating steel protection. Furthermore, the administration would run the risk that, in the middle of a presidential election season, foreign countries will exercise their rights under the WTO to retaliate.
  • Topic: Government, International Trade and Finance
  • Political Geography: United States, Pennsylvania, Ohio, West Virginia
  • Author: Gary Hufbauer, Ben Goodrich
  • Publication Date: 06-2003
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: A good proposal to eliminate tariffs must take into account both the pain and gain that developing countries are likely to experience. The authors take the measure of these costs and benefits and urge rich countries to maximize the benefits to developing countries while giving them ample time to accept, and adjust to, the changes that trade liberalization will require. But trade liberalization should not stop with tariff proposals. The United States and other industrial countries should generously reduce subsidies to farmers and eliminate nontariff barriers on agricultural imports. The United States should offer more concessions on services trade, particularly in its allowances for temporary foreign workers. Unless rich countries put more on the table, a WTO agreement to eliminate tariff barriers may be postponed for years.
  • Topic: Economics, International Trade and Finance, Political Economy, Third World
  • Political Geography: United States
  • Author: Gary Hufbauer, Ariel Assa
  • Publication Date: 05-2003
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: The tax-driven expatriation of US corporations is a troubling phenomenon. In a “corporate inversion,” a new foreign corporation, typically located in a low-tax or no-tax country, replaces the existing US parent corporation of a multinational enterprise (MNE). The US corporation then becomes a subsidiary of the new foreign parent. Since the US tax treatment of an MNE operating in the United States is significantly less favorable when the top-tier parent corporation is a domestic rather than a foreign corporation, the inversion transaction averts a substantial amount of US tax. Inversions have attracted adverse attention from tax specialists, media, the US Treasury Department, and Congress. In the wake of September 11, it seemed downright unpatriotic for US firms to invert as a way of skimping on their tax payments.
  • Topic: Economics, Government, International Trade and Finance
  • Political Geography: United States
  • Author: Marcus Noland
  • Publication Date: 05-2003
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Despite the passage of 50 years since an armistice ended military hostilities, the Korean peninsula remains divided, a Cold War vestige that seemingly has been unaffected by the evolution that has occurred elsewhere. If anything, US confrontation with North Korea—a charter member of its “axis of evil”—has intensified in recent years. Yet today, increasing numbers of South Koreans, accustomed to living for decades in the shadows of the North's forward-deployed artillery, do not regard the North as a serious threat. Growing prosperity and confidence in the South, in marked contrast to the North's isolation and penury, have transformed fear and loathing into pity and forbearance. Instead, it is the United States, an ocean away, that regards the North and its nuclear weapons program with alarm. As the United States has focused on the nuclear program, its ally, South Korea, has observed the North Koreans' nascent economic reforms and heard their talk of conventional forces reduction, and the gap in the two countries' respective assessments of the North Korean threat has widened dangerously, threatening to undermine their alliance.
  • Topic: Security, International Trade and Finance
  • Political Geography: United States, Israel, East Asia, Asia, South Korea, North Korea, Korea