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The battle of Smoot-Hawley
22/12/2008
EVEN when desperate, Wall Street bankers are not given to grovelling. But in June 1930 Thomas Lamont, a partner at J.P. Morgan, came close. “I almost went down on my knees to beg Herbert Hoover to veto the asinine Hawley-Smoot Tariff,” he recalled. “That Act intensified nationalism all over the world.”
Economic Crisis, Doha Completion, And Protectionist Pressure
22/12/2008
The worry about protectionism should not be centred on completing the Doha Round. This article suggests 80% of world trade is locked-in under legally binding tariffs and the real worry is that of excessive use of antidumping, countervailing duty, and safeguard protection, misguided public subsidies, rising protection in the poorest countries, and temptation in the U.S. Congress to violate existing treaty commitments.
Barriers to entry
22/12/2008
REMEMBER 1982, when the Soviet threat haunted America and China was still a giant backwater that had only just started reforming its economy? Few will recall that it was also the last year in which the volume of world trade shrank. Twenty-seven years later, it is likely to fall once again—by 2%, the World Bank predicts.
US 'failed to comply' with anti-dumping
22/12/2008
