1. Globalization’s Ill effects have been wildly exaggerated. Robert Samuelson. May 14, 2017
https://www.washingtonpost.com/opinions/globalizations-ill-effects-have-been-wildly-exaggerated/2017/05/14/06d12334-3724-11e7-b373-418f6849a004_story.html?utm_term=.6870774a5bae
2. International Trade Agreements. Douglas A Irwin. 2008 The Concise Encyclopedia of Economics.
http://www.econlib.org/library/Enc/InternationalTradeAgreements.html
3. NAFTA’S Winners and Losers. David Floyd. May 18, 2017.
http://www.investopedia.com/articles/economics/08/north-american-free-trade-agreement.asp
4. What a Trump presidency means for U.S. and global climate policy. Nathan Hultman, Nov. 9, 2016
What a Trump presidency means for U.S. and global climate policy
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5. Trump, Trade and Seucurity, a way forward? Joshua P Meltzer Nov 14, 2016
6. Urban governance in the 21st Century: Innovating solutions (Podcast) Nov 9, 2016
7. The TPP is dead, long live the TPP. Mireya Solis, Nov 11, 2016
8. Summary of Trade Issues
https://www.iisd.org/business/issues/trade.aspx 9. Everything You Need to Know About the TPP; Washington Post; https://www.washingtonpost.com/news/wonk/wp/2013/12/11/everything-you-need-to-know-about-the-trans-pacific-partnership/ 10. The Trans-Pacific Partnership (TPP) will increase trade, but will it undermine democracy, public services, and the environment? https://netivist.org/debate/tpp-pros-and-cons
Third way
Problem: “The U.S. has run annual trade deficits since the 1970s, importing more goods than it exports and posting a more modest trade surplus in services” (Leubsdorf)
A potential solution to this problem could be a new temporary agency, one whose role is to reduce and eliminate the United States trade deficit.
The agency would be structured similarly to the WTO, however this agency’s sole purpose would be reconciling the trade deficit without compromising the stakeholders involved.
The agency would be comprised of three branches:
Non-Profit (headed by former WTO, Economists): Leadership would be derived from this non-profit branch of the agency to ensure the overall objective is met. Following the operational style of the WTO, the agency would seek collaboration among its branches that can foster win-win opportunities.
Business (Service Corps of Retired Executives, Business School professors): This branch of our organization would be responsible for increasing efficiency among existing industries to maximize our export potential in what could very well be a total United States industry reform. The innovative action taken by this branch would result in greater profits for American companies, increased employment opportunities and new markets that the United States will attempt to seek out and dominate.
Government (Representatives from Department of Commerce): Government representatives will need to be assigned to oversee specific industries, ranging from manufacturing to agriculture. Representatives will identify the specific strengths of their industries and work with each to enhance production and foster growth. Depending on budget constraints, government incentive programs may be implemented, programs that can reward firms in the form of minor tax reductions, lowered interest rates or subsidies of crucial operational components. Incentives would only be granted if participating domestic firms are able to quantify their performance improvement. In order to persuade the American public of the agency’s mission, government will commit to reinvest trade surplus funds into public infrastructure when objective is complete. This commitment will promote distribution of wealth among the American people and serve as a political strategy as well.
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(Representatives from Department of Commerce): Government representatives will need to be assigned to oversee specific industries, ranging from manufacturing to agriculture. Representatives will identify the specific strengths of their industries and work with each to enhance production and foster growth. Depending on budget constraints, government incentive programs may be implemented, programs that can reward firms in the form of minor tax reductions, lowered interest rates or subsidies of crucial operational components. Incentives would only be granted if participating domestic firms are able to quantify their performance improvement. In order to persuade the American public of the agency’s mission, government will commit to reinvest trade surplus funds into public infrastructure when objective is complete. This commitment will promote distribution of wealth among the American people and serve as a political strategy as well.
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