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International Trade

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

Lessons for a Rainy Day

Last Tuesday was a bad day for most umbrellas. In New York City, it poured, it was windy, and most umbrellas were flipping out, blowing sidewards, and doing everything except what they were supposed t…

Wheelbarrows of Money

If your country’s currency is hyperinflating, then how do you buy bread? You can find a wheelbarrow or use another currency. During February, 2007, with an inflation rate exceeding 50% per month…

The Ties That Bind Us

Although Nairobi and London are 4228 miles apart, they actually are closely connected. The NY Times described the tie that was cut by volcanic ash. Kenyans supply gourmet vegetables and cut flowers to…

Frugal Fatigue and Yuan Updates

Re a March 21 post about frugal fatigue… For a fifth straight month, consumer spending is up, meaning perhaps that we are headed for a “V” recovery?   Data from the mo…

Yuan or Yen

Harvard professor Niall Ferguson, called China a currency manipulator in a recent interview. Next month, Treasury Secretary Tim Geithner will let us know if he agrees. The United States…

Hamburger Economics

When U.S. senators consider whether to respond to an undervalued Yuan, they can check the most recent Big Mac Index.  Big Macs are 49% cheaper in China than in the U.S. According to The…

Ricardo and China

What happens when you build an airport and nobody uses it?  China has an answer. Although China faces underutilization as it develops its transportation infrastructure in the air, by rail an…

Statistical Fun

Reading that China might be concerned with an annual 3.5 percent inflation rate, I wondered how that compared to other countries and the world.  At a Google site with Wor…