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2018 Trade Wars Infographic

Trade Machines
Trade Machines, 2018
Level: beginner
Topic: Globalization & International Economic Relations
Format: Interactive Graph
Duration: 00:10:00
Link: http://trademachines.com/info/tradewars/
Photo by chuttersnap on Unsplash

This infographic gives a summary of the 2018 Trade Wars. This simple overview is suitable for those without a strong political or economic background. The infographic explains briefly basic concepts related to trade and provides a short timeline of events. Furthermore, it checks the arguments by the Trump administration to launch the trade war in spite of facts and estimates of how the 2018 trade war can affect the global and North-American economy.

Comment from our editors:

It covers the basic concepts of tariffs and protectionism vs free trade in an attempt to display the motivations behind and impact of real-world economics and international trade policies. To get more context on free trade in economic theories, which is only vaguely covered in this infographic, we highly recommend reading this foundational text on free trade.

Go to: 2018 Trade Wars Infographic

This material has been suggested and edited by:

Teresa Romero
Tags: China | protectionism | tariffs | trade | Trump
2008
Level: beginner
Ha-Joon Chang - Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
Ha Joon Chang exposes the main ideas of his book Bad Samaritans, namely that historically states have developed and industrialized by making policy interventions related to industry protection, tariffs and subsidies and not by opening their markets to free trade. Chang elaborates on the examples of Japan, the US, Singapore and Germany amongst others to show that an interventionist path to development has been the regularity and not an anomaly. In the end of the lecture, he argues that they idea of a level playing field should be replaced by a trade order that accounts for differences in power and economic capacities of different countries. The last 20 minutes are questions and answers.
Ha Joon-Chang
New America Foundation
2013
Level: beginner
Stiglitz on globalization, why globalization fails? The trade agreements
Stiglitz answers the question why globalization and world trade has not delivered on its promise of increased well being as much as classical economists thought, by pointing to the power asymmetries: firstly, between industrialized nations and developing nations and secondly, between special corporate interest and social interests. In his analysis, developed countries and MNCs were able to extract the benefits, while shifting the costs (i.e. pollution) to states and communities with lesser power. Amongst many other historical examples the pharmaceutical and the mining industry are discussed to some length.
Joseph Stiglitz
-
2015
Level: beginner
Global sugar production - regulations, intercountry inequalities, and marketing
What does political economy say about the global sugar production? Take a look at global trade regulations, intercountry inequalities, and the role of marketing.
Ben Richardson
I-PEEL
2016
Level: beginner
Free trade in economic theories
In 18th century Europe figures such as Adam Smith, David Ricardo, Friedrich List and Jean Baptiste Colbert developed theories regarding international trade, which either embraced free trade seeing it as a positive sum game or recommended more cautious and strategic approaches to trade seeing it as a potential danger and a rivalry and often as a zero-sum game. What about today?
Exploring Economics
Exploring Economics
2020
Level: beginner
Trade Barriers to Development explored through various lenses
A central question in development economics literature is, “Why do countries stay poor?” The key disagreements are whether the lack of economic growth stems from institutions or from geography (Nunn 2009). From an institutional perspective, hostile tariff regimes and commodity price dependencies form a barrier to a sectoral shift that would otherwise lead to economic development in developing countries (Blink and Dorton 2011) (Stiglitz 2006).[i]
Johannes M. Halkenhaeusser
Pluralist Economics Fellowship

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