Word: protectionists
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Dates: during 2000-2009
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Within the U.S., the imbalance is mainly seen as the product of protectionist policies by China, in particular China's refusal to let its currency, the yuan, appreciate against the dollar. There's certainly something to this - it's now universally agreed just about everywhere but China that a freely floating yuan would be worth significantly more than the 15 cents it currently goes for. By keeping its currency's value artificially low, China makes its products cheaper in the U.S., thus encouraging imbalanced trade. (See a story about China's consumers and the world economy...
...Tiwari's protectionist approach could actually hurt farmers. The World Bank's Delgado says that most projections show trade liberalization in agriculture would create significant increases in prices - as much as 20% for cotton and 7% for food grains. Not only would those gains increase the incentive for farmers to grow greater quantities of food, but they would also put more money in farmers' pockets, creating a new source of global demand. But with World Trade Organization negotiations on agricultural trade stalled on the issue of subsidies, it seems unlikely that farmers in Vidarbha and elsewhere will see these benefits...
...European Union has tried to topple the VW law, which it calls protectionist, but in 2008 Germany passed a revised VW law that granted Lower Saxony a veto right in the event of a takeover attempt. Wiedeking underestimated Wulff and the political nature of the battle. That made failure almost inevitable. Still, the money will help soothe his current woes...
...remained relatively low, and very few people lost their lives. And as our seniors prepared to don their caps for Commencement, those who hailed from overseas and abroad confronted one of the most challenging job markets in recent history, made even more difficult by the passage of counterproductive and protectionist legislation that limited the job prospects of those who hoped to go into the financial services industry after graduation.In retrospect, this past year has been a period of painful transition and much-needed change. With all of the numerous challenges that the Obama administration and the United States...
...Great Depression started out with a stock market bubble that burst in 1929, as the world was going into a nice recession. Then the government started making mistakes. They passed the Smoot-Hawley tariff, they raised taxes, they became very protectionist, and the next thing you know we had the Great Depression. In Europe they made solvent banks take over insolvent banks with the result that both [kinds of] banks failed. This has all been done before. History is - I don't like saying it, but it's repeating itself. Governments are making the same old mistakes...