Archive | Trade


This from Peter Morici. ******** Trade Deficit, Ailing Banks Threaten Recovery Peter Morici, 12/8/10 Friday, analysts expect the Commerce Department to report the deficit on international trade in goods and services was $44.0 billion in October or 3.6 percent of GDP. The trade deficit and crippled regional banks starve U.S….

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Korean currency manipulation

China is not the only currency manipulator.  Korea does it too. A friend with knowledge of the topic put this bullet point list together. ***** KOREA: THE FACTS ABOUT CURRENCY MISALIGNMENT •    Korea is the world’s 12th largest economy, but its official reserves amount to $293 billion (October 2010), seventh…

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Quick points on the Korea FTA

Why is the Korean “Free Trade Agreement” a bad thing?  Here are cliff notes for you.  No one… no one… can counter these points.  They are facts. 1.  It drops our tariffs, but allows them to keep a 6% currency tariff.  Korea’s currency is 6% undervalued. 2.  It drops our…

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USW article on the Korea FTA

The United Steelworkers board released the statement below, today, opposing the Korea FTA. Key quote:  “As a recent study shows, the rate of U.S. exports to current FTA partners lags behind that of countries where we have no FTA in place.   Promises made by previous Administrations as to the enormous…

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Korea FTA: Buying off industries, sacrificing economic strategy

We just can’t plan an economic strategy it seems. Does no one have a vision?  Does no one have any values? Remember this.  The biggest market in the world is the U.S. market.  Bar none.  By far.  And we give up that market share to others in return for… export…

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Few New Jobs Expected Soon From Free-Trade Agreement With South Korea

The following article by Sewell Chan appeared in the New York Times here. WASHINGTON — The revised free-trade agreement with South Korea announced on Friday by the Obama administration has gotten acclaim from corporate leaders and Congressional Republicans. But the pact is likely to result in little if any net…

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Korea FTA accord reached: More of the same

The prior free trade agreements (FTA) have such a great record of creating jobs and net exports in this country that they are doing another.  Korea.  The Administration reportedly came to agreement with Korea today. Here is the net export effect, which is obviously negative, for the countries we currently…

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Stand up to China

The following opinion was written by Dave Frengel, Director of Government Relations for Penn United Technologies Inc., which makes parts for various manufactured products and is based in Cabot, PA. Mr. Frengel also chairs the Pennsylvania Chapter of the Coalition for a Prosperous America. Domestic manufacturers and others who understand…

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Morici: 11.23.10: Third Quarter GDP Growth at 2.5 Percent: Trade Deficit Taxes Growth, Keeps Unemployment High

The following is an article by Peter Morici, a professor at the Smith School of Business, University of Maryland School. Today, the Commerce Department announced third quarter GDP growth was 2.5 percent. Burdened by a rapidly growing trade deficit, U.S. growth remains too slow to bring down unemployment. Growth is…

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Rare Earths Stand Is Asked of G-20

The following is an article by Keith Bradsher published in the New York Times here. HONG KONG — An unusually broad coalition of business groups in North America, Europe and Asia has sent a letter to the heads of state of the Group of 20 major economies, asking them to…

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