Expeditors International is a leading provider of logistics services offering its customers an international network of integrated systems and personnel specializing in efficient and cost effective movement of goods. The company is a non-asset based organization that purchases cargo space
Zachary Karabell has made an important contribution in Superfusion: How China and America Become One Economy and Why the World’s Prosperity Depends on It. Mr. Karabell attempts to trace the history of China’s remarkable rise over the past twenty years by presenting a wide ranging “thirty thousand foot” view of political and economic forces as well as individual case studies of American companies that penetrated the Chinese consumer market. The underlying thesis is that China and America have “fused” into a single economy of “Chimerica”. Read this article for the book review.
Leaders of the Group of 20 nations released a communiqué today outlining a number of measures intended to help the global economy recover from the current worldwide recession. While the details of the massive $1 trillion commitment quadrupling the capacity of the IMF has dominated most headlines, I found the strong language intended to discourage protectionism to be perhaps more important.
Protectionist sentiment is on the rise in the United States. Although my main focus on this site involves the financial markets and individual securities, at times like this it is difficult to ignore the massive structural changes that are taking place in the economy due to political action in Washington. Yesterday, I discussed protectionist moves related to restrictions on Mexican trucking. Today, I will cover another example of protectionism related to restrictions imposed on TARP recipients related to hiring workers on H1B Visas.
Although my main focus on this site involves the financial markets and individual securities, at times like this it is difficult to ignore the massive structural changes that are taking place in the economy due to political action in Washington. I have many concerns about several proposed policies currently under discussion, but I am most bothered by the rise of protectionist sentiment in Washington and throughout the country. This is the first in a two part series related to the rise of protectionist sentiment in the United States.