For countries with smaller economies that depend on tourism spending, the impact of the Covid-19 pandemic will be even more devastating.
Since trade with Canada tops everyone but China, we should take a look at what they send to us, what we receive, and why we have a trade surplus with them.
Seemingly small at 10%, Canada’s retaliatory ketchup tariff represents a lot more than a lift for a bland burger and salty fries.
With the TPP ready for the U.S. Congress’s debate on the free trade deal, we can remember NAFTA, comparative advantage and the fruits of free trade.
Shifting from the EU to Russia and the Faeroes, Russia’s embargo trade barriers changed export and import winners and losers for cheese and salmon.
Our everyday economics includes wages, externalities, productivity, income, tradeoff, taxes, fiscal policy, gender, human capital and comparative advantage.
Our everyday economics includes behavioral economics, commitment devices, environment, supply, regulation, free trade, gender issues and the minimum wage.
While opponents of the TPP free trade deal cite currency manipulation, cheaper exports from countries with cheaper currencies save money for U.S. buyers.
We can say that Mexico believes her top trading partner is the United States because the value of her exports to the US (2013: $370,826,831) added to the value of her imports from the US (2013: $370,746,056) is exceeded by none of her other…
The Big Mac Index is out again and not much has changed. Norway’s Big Macs are expensive and Chinese Big Macs are cheap. What do Big Mac prices tell us about purchasing power? Starting with an average U.S. price of $4.37, we…