Focus on International Economics
By BRUCE BARTLETT,
Posted: December 09, 2011
On December 8, the Asian Development Bank published a working paper which argues that China must improve the distribution of income so that domestic consumption can replace exports as the driver of growth in the future.
A December 6 Pew poll found deep divisions regarding immigration policy depending on a person’s age, race, education level, and party affiliation.
In a December 1 paper for the Asian Development Bank, Columbia University economist Philip Levy argues that much of the ongoing dispute between the U.S. and China over trade policy is due to mutual misunderstanding. He believes that underlying economic and demographic forces will ultimately resolve the trade imbalance between the two countries.
Also on December 1, economist John Makin published an analysis of how Europe’s debt problem became so bad. He predicts that in the end the European Central Bank will be forced to monetize the debt because the only alternatives are default or collapse of the European monetary system, he says.
And on December 1, the Center for Global Development published a study on global political instability. Contrary to commonly accepted theory, it finds that positive commodity price shocks do not increase political instability. On the contrary, the additional revenue tends to strengthen the state.
On December 1, the United Nations issued a report on the world economic situation and prospects for 2012. It warns against the adoption of premature fiscal austerity measures and recommends additional stimulus measures.
On December 1, the Pew Hispanic Center published a study of adult illegal immigrants. It finds that two-thirds have lived in the U.S. for at least 10 years and 35 percent for 15 years or more.
On November 17, the European Commission issued a report on Greece. It finds that a key source of the nation’s fiscal problems is a culture of tax evasion.
I last posted items on this topic on November 14.
Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He
and writes a
for The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including his new book:
The Benefit and the Burden