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Sommer/Herbst 2009summer/fall 2009
12/18/2018 : 8:26 pm : +0100

Protectionism

Global Trade Alert provides real-time information on state measures taken during the current global downturn that are likely to affect foreign commerce. It goes beyond other monitoring initiatives by identifying the trading partners likely to be harmed by these measures.

Selling foreign goods in China: Impenetrable

Despite widespread hope that China will help pull the world out of recession, foreigners are finding it as arduous as ever to do business there

The economist

 

Canada Seeks Redress on Food-Labeling Law

Ratcheting up a trade dispute with the Obama administration, Canada is asking the World Trade Organization to rule against an American food-labeling law that it claims is helping to destroy much of its hog-farming industry.

International Herald Tribune

Bureaucrats at the Barricades.The bumpy road to global free trade.

Book Review:In "Misadventures of the Most Favored Nations," Paul Blustein.a former Washington Post reporter, argues that the WTO has been crumbling around the edges for years.

Wall Street Journal

 

The G20's assault on world trade

Economists have been particularly wary of protectionism since the recession’s onset. This column presents new evidence that numerous governments, including G20 nations, have implemented protectionist measures. It calls for G20 members to halt further trade-distorting measures and review those identified by major monitoring initiatives.

voxeu

Keynes at Home, Smith Abroad Domestic stimulus spills over to protectionism.

Policy makers around the world have been trying to forge a new consensus amid the global economic crisis: John Maynard Keynes at home and Adam Smith abroad. The idea is that greater government intervention in the domestic economy is needed, but that on a global scale free trade is critical to recovery, even if squaring the two requires stronger international policy coordination. Proponents think this new consensus has worked. Hardly.

Wall Street Journal

Trade Talks to Resume, but Divides Remain

Trade ministers from around the world said Friday that they would resume negotiations on a stalled free-trade agreement even as it became clear that developing countries and the United States remain far apart on critical issues.

International Herald Tribune

Few Eexpect Progress on DOHA at WTO Talks

The Obama administration's first formal meeting with the world's trade ministers is likely to underscore how the U.S.'s reticence to pursue a free-trade agenda in the face of domestic opposition has become the main obstacle to moving forward on global trade talks.

Wall Street Journal

Subsidies: paper industry double-trapped by support measures

State aid policies in the US and Canadas harms Austrian paper manufacturers (in German).

Die Presse

Trade barriers: Fight over China's Media Market (in German)

China will not agree to the WTOS decision about the opening of its media market for foreign exporters. (in German)

Financial Times Deutschaldn

Protectionism Exposed

A new database tracks emerging threats to trade.

Wall Street Journal

China Launches Action at WTO to Keep U.S., EU Markets Open

China launched formal complaints at the World Trade Organization in a bid to take down trade barriers set up by the European Union and U.S., a sign Beijing is fighting more aggressively to keep foreign markets open for its exports.

Wall Street Journal

International Banks

‘Too big to fail’ is too dumb an idea to keep

John Kay explains why the bank bail-outs of this crisis may not have been the last ones.

Financial Times

Why did economics fail to predict the global financial crisis?

The deepest economic crisis in 80 years caught economics completely unprepared. While for quite some time concerns had been voiced warning of the bust of the US real estate boom, the conclusion that this would lead to a shock wave driving the financial system worldwide to the brink of collapse seemed quite unconceivable. Even after the event that cluelessness of many experts is striking.

ifW-Fokus

WTO’s chief urges for reform on Basel regulations

International banking regulations to control credit must be reformed to revive trade finance and further the recovery in global commerce, the head of the WTO said.

The Gov Monitor

G-20 Summit: The Weakness of the Pittsburgh Agenda

The action plans of the G20 are not sufficient. In order to prevent new excesses, the countries have to stop destabilizing speculation on the financial markets. (In German)

Die Zeit

 

Why much of the G20 debate on banking reform is futile

What do we want from our banks? The answer might seem fairly obvious.

The Telegraph

One year after the crash: Lemann Brothers was like a bomb (in German)

Late regrets of a banker: in a SPIEGEL-ONLINE interview, former Lehmann Vice President Lawrence McDonald talks about the dramatic last days of the investment house and the ‘powers of evil’. The management is to be blamed for the fatal collapse, he says - it instigated the billion dollar gambling. (In German)

Der Spiegel

After the shock, challenges remain

Question: what's the difference between a recession and a depression? Answer: in a depression, policy doesn't work.

BBC NEWS

World Finance Chiefs Agree Unified Position at London Gathering

Finance officials from the world's wealthiest nations pledged at a meeting in London Saturday to maintain stimulus measures to boost the global economy, warning that the fledgling recovery that provided the backdrop to their meeting is by no means assured.

Voice of America

Bank Risks: not enough transparency

 

The international banks promised to inform more frank about their risks. But an analysis of 14 annual reports 2008 shows a lack of prospect. (in German) Neue Zürcher Zeitung

FSA backs global tax on transactions

The head of Britain’s top banking watchdog supports the idea of new global taxes on financial transactions, warning that a “swollen” financial sector paying excessive salaries has grown too big for society.

Financial Times

First sanctions against "tax haven Austria"

In case Austria does not ease its bank secrecy law Austrian banks are threatened to be barred from projects of the European Investment Bank (in German).

Die Presse

Financial Sector should be services sector for real economy (in German)

The financial crisis did not change the behaviour of the international financial sector, the economist Stefal Schulmeister is afraid. (in German)

ORF Morgenjournal

With the Government's Protection

The volume of of Government guaranteed bonds (graph.) (in German)

Die Zeit

Rapid retreat from Switzerland

More than 150 foreign banks are operating in Switzerland. But now Commerzbank has sold off her entire assets in the Swiss Confederation within one week.

(in German)

FAZ

Wall Street profits from trades with Fed

Wall Street banks are reaping outsized profits by trading with the Federal Reserve, raising questions about whether the central bank is driving hard enough bargains in its dealings with private sector counterparties, officials and industry executives say.

Financial Times