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The China Currency Issue: The Savings Gap

It has been suggested that the main cause of the U.S. trade deficit with China is the savings gap between the two countries, involving some combination of China saving too much and the U.S. saving too little.  From Morgan Stanley Asia Chairman Stephen Roach: Morgan Stanley Asia Chairman
Simon Lester 21 Mar 2010 3 min read

More on GATT Article XV:4

A few months ago, I tried to do a quick analysis of one aspect of GATT Article XV:4, in the context of a possible WTO claim related to China’s currency peg. The issue I raised was whether, when arguing that an “exchange action” “frustrates the intent” of GATT
Simon Lester 21 Mar 2010 4 min read

A Summary of China Currency Views

I thought it might be interesting to gather up the various views that have been expressed on the China currency issue.  I have two key questions in mind: 1)  Is the Chinese currency peg at an (allegedly) undervalued rate bad for the U.S. economy/global economy? 2)  If it
Simon Lester 19 Mar 2010 8 min read

Paths to Economic Development: Is Services (Part of) the Answer?

Over at vox, Ejaz Ghani of the World Bank argues that services can play a more important role in development than is generally thought: The story of Hyderabad – the capital of the Indian state of Andhra Pradesh – is truly inspiring for late-comers to development. Within two decades, Andhra Pradesh has
Simon Lester 19 Mar 2010 2 min read

Tobacco and Trade/Investment Agreements

Tobacco and trade/investment issues are heating up. Philip Morris is suing Norway: Philip Morris Norway (PMN) has announced it’s going to sue the Norwegian state. They claim the ban against displaying tobacco products that came into force on 01 January is illegal. “These regulations prevent adult consumers from
Simon Lester 19 Mar 2010 1 min read

Today's Chinese Currency Post

I don't mean to overdo things with the China currency issue, but it's a hot topic and there's a lot to say about it.  So here's today's post, which is about an argument made by Arvind Subramanian in the FT:
Simon Lester 17 Mar 2010 2 min read

Climate Labelling under WTO Rules

From SSRN, here is the asbtract of Climate Labelling and the WTO: The 2010 EU Ecolabelling Programme as a Test Case Under WTO Law, by Erich Vranes Environmental labelling is increasingly used as an instrument of climate protection. This is underlined, for example, by the EU climate change programme, in
Simon Lester 17 Mar 2010 1 min read

Workshop on Global Law and Economic Policy at Harvard

From June 2-11, 2010: The Workshop is an intensive ten day residential program designed for doctoral and post-doctoral scholars. The Workshop aims to promote innovative ideas and alternative approaches to issues of global law, economic policy and social justice in the aftermath of the economic crisis.  The initiative will bring
Simon Lester 17 Mar 2010 1 min read

Film Production Subsidies

From The Economist: California has been worrying about “runaway production” since 1998, when Canada began luring producers and their crews away from Los Angeles with tax breaks. Other places followed, and all but seven American states and territories and 24 other countries now offer, or are preparing to offer, rebates,
Simon Lester 17 Mar 2010 1 min read

Trade in Everything: Rush Limbaugh Edition

No, we're not trading Rush Limbaugh.  Rather, he may be engaging in trade in medical services: Conservative talk-show host Rush Limbaugh said this week he’d go to Costa Rica for medical treatment if Congress passes proposed reforms to the US healthcare system. That might sound like an
Simon Lester 17 Mar 2010 2 min read

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Jamieson Greer on the 30 Year Aberration in U.S. Trade Policy

When he was in Davos last week for the World Economic Forum, U.S. Trade Rep. Jamieson Greer talked a bit about U.S. trade policy history and described a recent period during which, in his view, U.S. trade policy shifted away from tariffs/protectionism and towards free trade.
29 Jan 2026 6 min read

Is this the end of MFN as we know it? The EU submission on WTO reform and the meaning of development

With the release of the EU submission on WTO reform, it has become clear that the MFN principle’s central role within the WTO architecture is under challenge. As a keystone, it risks the entire bridge falling. Even if the foundations are retained but deemed outdated or unusable, and a
23 Jan 2026 3 min read

Can "Geopolitical" Tariffs Be Dealt With through Trade Deals?

Last Friday, U.S. Trade Rep. Jamieson Greer was asked about Trump's initial suggestion of tariffs related to the goal of taking over Greenland
20 Jan 2026 4 min read

Is Foreign Antitrust Enforcement "Discriminatory" and "Anti-American"?

The House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust held a hearing in December on "Anti-American Antitrust: How Foreign Governments Target U.S. Businesses." There was a lot of talk at the hearing about how foreign regulations and regulators "discriminate" against American companies.
05 Jan 2026 5 min read

Pennsylvania Court Finds Mexican Government Guilty of "Discrimination" Due To Its Subsidies

I'm always interested in how courts apply the concept of "discrimination" in the context of international trade, so I've been eagerly awaiting a Pennsylvania court decision in a case against Mexico.
12 Dec 2025 8 min read

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