includes a musical about former fill pina first lady imelda marcos. performed in a broadway theater that s been transformed into a disco. but first, here s my take. for years american politics has been shaped by the idea of the china shock. the term coined by three economists in a paper captured the widespread belief that trade with china has resulted in the de-industrialization of significant parts of the u.s. and the loss of huge numbers of manufacturing jobs. it has fueled much of trump s trade policy and biden s new industrial policy all of which is premised on the notion that china prsents an existential challenge to america s economic
India’s high GDP growth has got policymakers excited but we must not lose sight of our flagging manufacturing sector that needs a major revival for the sake of prosperity and employment
The German industry will pay 40% more for energy in 2023 compared to 2021 due to the energy crisis triggered by Russia s invasion of Ukraine, says a study by Allianz Trade
it means that their input costs are structurally so much higher for the foreseeable future, from the united states, from the western hemisphere and much of asia. what that means is de-industrialization. a lot of their corporations are going to leave and not come back. it s a real negative impact. second, the europeans have the money when things get ugly to pay for the inputs to ensure their working class is taken care of. the developing world does not. if you re not a commodity exporter in the developing world, you face a serious fiscal crunch, lots more social instability, maybe a financial emerging market crises. i want to end on that point. you talk about arrested global development. this is something that strikes me. you know, we have spent the last few years talking about oh, you know, we overdid globalization, we overdid market reforms. the problem is, the only way to grow, the only way to raise incomes is by embracing markets and trade and all that, and all of these developm
the united states, from the western hemisphere and much of asia. what that means is de-industrialization. a lot of their corporations are going to leave and not come back. it s a real negative impact. second, the europeans have the money when things get ugly to pay for the inputs to ensure their working class is taken care of. the developing world does not. if you re not a commodity exporter in the developing world, you face a serious fiscal crunch, lots more social instability, maybe a financial crises. i want to end on that point. you talk about arrested global development. this is something that strikes me. you know, we have spent the last few years talking about oh, you know, we overdid globalization, we overdid market reforms. the problem is, the only way to grow, the only way to raise incomes is by embracing markets and trade and all that, and all of these developments, the populist wave that has shut down a lot of that, and brought