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EconNews Online is South-Western's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary.
INTERNATIONAL TRADE 
Title  Brief Summary 
Blaming China
Full Summary
As American manufacturers continue to suffer from a slow economy with unemployment high and as fears of further reductions in demand continue, some analysts are blaming China for America's economic woes. More specifically, they are blaming the Chinese system that pegs their currency, the Yuan, to the dollar. This manipulation of the Chinese currency keeps Chinese goods cheap relative to American goods and further depresses American sale.
(Updated October 1, 2003
A Crude Strike
Full Summary
Internal strife in Venezuela, the world's fifth-largest oil exporter, sent oil prices to their highest levels in two months. Economists are optimistic about economic growth for 2003, strikes and political unrest in Venezuela that lead to further oil price hikes may mitigate that optimisms by 2015, saying this proposal would eliminate about $18 billion in tariffs that consumers currently are paying.
(Updated February 5, 2003
A Tariff-ic Proposal
Full Summary
With global trade negotiations due to begin shortly, the Bush Administration has submitted a plan to eliminate all tariffs on industrial and consumer goods by 2015, saying this proposal would eliminate about $18 billion in tariffs that consumers currently are paying.
(Updated January 2, 2003
If it Looks Like Catfish…
Full Summary
Although the Bush Administration claims to be a proponent of free trade, there have been a number of instances where talk and action have diverged. The Administration's actions, critics claim, are winning votes for the upcoming battle over "fast-track" trade legislation.
(Updated June 1, 2002
What Once Was A Tiger
Full Summary
Japan's trade surplus is growing as a result of the falling value of its currency, the yen. U.S. policymakers believe that the weak yen will help Japan recover from recession and a healthy Japanese economy will promote global growth.
(Updated June 1, 2002
Trade Organization More Worldly 
Full Summary
The World Trade Organization has agreed to allow China and Taiwan to join. China will have to reduce its tariffs, eliminate subsidies, allow more foreign investment, and abide by copyright regulations. Increased trade and investment will benefit businesses, workers, and consumers around the world.
(Updated December 1, 2001
Tariffs Topple
Full Summary
The United States signed an historic trade agreement with Vietnam that will slash American tariffs on Vietnamese exports and open the world's largest market to Vietnamese goods.
(Updated December 1, 2001
Sayonara, Economic Growth? 
Full Summary
Japan released data confirming that output of goods and services contracted in the second quarter of this year. Japan is technically not in recession, since last quarter's gross domestic product figures were revised to show a slight increase .
(Updated October 1, 2001
Trade Matters
Full Summary
Two economists, Stephen L. Parente and Edward C. Prescott argue in "Barriers to Riches," that poor countries remain poor because of policies established in those countries that prohibit the adoption of more productive technologies.
(Updated July 1, 2001)
Going Bananas Over Steel
Full Summary
Less than two months after an agreement that ended a trade war between the United States and the European Union (EU) over bananas, the same parties appear to be headed for another conflict, this time over steel.
(Updated July 1, 2001)
To Consumers, The Sugar Program is Anything But Sweet
Full Summary
Free trade has been one of the top concerns of the last as well as the current administration. But the pursuit of free trade apparently does not apply to the sugar industry.
(Updated June 1, 2001)
But Will the Final Exam Be Essay or Short Answers?
Full Summary
Faced with an increased number of bilateral trade agreements with numerous countries, Brazil has responded by requiring its diplomats to study economics. Brazil is trying to avoid the mistakes it made in the early 1990s during negotiations with the U.S. and European countries.
(Updated June 1, 2001)
A Supersized NAFTA
Full Summary
President Bush and leaders from 33 Western Hemisphere countries gathered in Quebec to discuss a proposal for the establishment of a Free Trade Area of the Americas (FTAA). Free trade, it is argued, increases the flow of goods, people and ideas.
(Updated May 1, 2001)
Worldly Questions
Full Summary
The new U.S. Administration may usher in a change in U.S. economic policy with respect to a number of international issues. Recent world financial crises, the ever-growing trade deficit, high dollar, competition from the euro, antiquated world financial structure, and the impact of a U.S. recession on other economies are challenges that will occupy the Bush Administration.
(Updated February 1, 2001)
Chiquita Going Bananas over Quotas
Full Summary
Chiquita Brands International, the largest and most well known producer of bananas in the world, is threatening to declare bankruptcy due to the EU's decision to place trade restrictions on banana imports. The EU quotas have cost Chiquita $200 million a year since 1992.
(Updated February 1, 2001)
Sanctions Sought
Full Summary
The EU has petitioned the WTO to approve more than $4 billion in trade sanctions on U.S. goods and services, a request based upon an illegal tax break that the U.S. grants to exporters.
(Updated December 1, 2000)
In Pursuit of Restrictions
Full Summary 
The strong U.S. dollar has raised the price of our exports to foreign countries and lowered the price of their imports. The steel industry has been hurt especially hard by the strong dollar and has made a plea to President Clinton to impose restrictions on the import of foreign steel.
(Updated December 1, 2000)
In Mexico Growth Starts With NAFTA
Full Summary 
Some think that a trade agreement between a more developed and a less developed economy amounts to exploitation of the less developed economy's workers. Looking at the NAFTA's results, we find that exports have grown to nearly a third of Mexico's $500 billion economy and export growth is responsible for at least half of the 3 million jobs created since 1994.
(Updated October 1, 2000)
True or False - Trade Deficits are Bad
Full Summary 
The U.S. trade deficit is large and growing larger, causing concern among some economists and policymakers. Some analysts believe that the trade deficit is the single biggest threat to the current expansion of the economy.
(Updated July 1, 2000)
A Tariff-ic Proposal?
Full Summary 
The World Bank and IMF have proposed allowing some of the poorest African and Latin American nations to sell their goods to Western industrialized nations without tariffs or quota. The Clinton administration opposes measures to reduce tariffs because it could endanger support for its Africa trade bill…
(Updated May 1, 2000)
America, the Land of the Free -Trade Zone, That Is
Full Summary 
Western Hemisphere countries are attempting to follow the example of the European Union by creating a detailed framework for a Free Trade Area of the Americas agreement. The agreement would reduce or eliminate tariffs and other trade restrictions and open these economies to foreign investment.
(Updated January 1, 2000)
Troubling Trade Deficit
Full Summary 
The Commerce Department reported that the nation's current account deficit increased by $9 billion to a record $89.95 billion in the third quarter. The record trade deficit will likely be a matter of concern for the Clinton Administration, which has pushed free trade as a matter of national policy.
(Updated January 1, 2000)
Trade Troubles
Full Summary 
The U.S. trade deficit hit another record in March - the third month in a row. For the first three months of 1999, the deficit is running at an annual rate of $222 billion, which is the highest deficit ever recorded.
(Updated July 1, 1999)
Protectionism Grates on Greenspan
Full Summary 
In spite of the benefits of trade, protectionist sentiment is growing in part because global competition and measures to achieve efficiency have sometimes resulted in layoffs and plant closings. Alan Greenspan, chairman of the Federal Reserve, has entered the debate, denouncing protectionist pressures.
(Updated June 1, 1999)
Exports to Europe
Full Summary 
U.S. exports have been hit hard by Asia's financial crisis and by the devaluations in Russia and Brazil. Exports to Europe have remained strong, supporting profits for U.S. companies. There are, however, clouds on the horizon.
(Updated April 1, 1999)
Imports in Restraint
Full Summary 
The turmoil in the world's financial markets has devalued the currency of a number of nations. In response, a number of countries have sought to export their way out of recession and, consequently, have been flooding the U.S. with their goods.
(Updated January 1, 1999)
Going Bananas Over Tariffs
Full Summary 
The U.S. is threatening to place prohibitive tariffs on millions of dollars of European products in retaliation for the European Union's (EU) decision to place trade restrictions on banana imports.
(Updated December 1, 1998)
Manufacturers Migrate to Mexico
Full Summary 
Since the passage of NAFTA, foreign auto and auto-parts producers have greatly increased their investments in factories in Mexico. Auto exports from Mexico to the U.S. have increased markedly.
(Updated August 12, 1998)
India Blasted
Full Summary
President Clinton, responding to India's conducting nuclear tests, imposed major economic sanctions on India. The sanctions halt credit, guarantees or other financial aid by U.S. governmental agencies....
(Updated May 22, 1998)
A Jolt for Japan
Full Summary 
Japan's economy has been stagnant and to revive it the ruling Liberal Democratic Party has proposed a $124 billion stimulus program, which does not include a tax cut proposal.
(Updated May 19, 1998)
Ecuador's Economy Heads South
Full Summary 
Ecuador's economy is showing signs of distress. In late March, Ecuador's central bank allowed the sucre, Ecuador's national currency, to be devalued by 6%, a move brought on by a multitude of problems, including budget deficit and foreign debt.
(Updated May 19,1998)
An International Market in Pollution
Full Summary 
President Clinton has proposed establishing emissions as a commodity that can be traded internationally. This proposal would be an international extension of a system created domestically under the Clean Air Act of 1990.
(Updated January 15, 1998)
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