{"id":27838,"date":"2018-10-23T16:31:07","date_gmt":"2018-10-23T11:01:07","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27838"},"modified":"2018-10-23T16:31:07","modified_gmt":"2018-10-23T11:01:07","slug":"tilting-at-windmills","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/tilting-at-windmills\/","title":{"rendered":"Tilting at windmills"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/opinion\/lead\/tilting-at-windmills\/article24754565.ece\">Tilting at windmills<\/a><\/p>\n<p><strong><u>Article<\/u><\/strong>:<\/p>\n<ol>\n<li>Ravi Arvind Palat, has talked about structural issues associated with USA economy.<\/li>\n<\/ol>\n<p><strong><u>Important Analysis:<\/u><\/strong><\/p>\n<p>2. Donald trump has imposed tariff on main trading partner e.g. Canada, China, the European Union, and Mexico.<br \/>\n<u>3. Why USA has imposed<\/u>:<\/p>\n<ul>\n<li>Due to industrial structures wages in USA has stagnated for almost 40 years.<\/li>\n<li>Trade Deficit &#8211; China exported $505 billion worth of goods to the U.S and imported only $130 billion.<\/li>\n<li>Extreme Inequalities in income and wealth &#8211; due to Focus on trade and ignoring changes in the U.S. corporate structure and industrial relations and labor reforms.<\/li>\n<\/ul>\n<p>4. USA claiming by increasing the tariffs it will help in reducing U.S. trade deficits, bring back well-paying manufacturing jobs<\/p>\n<p><u>5. Facts about USA trade relations with other countries<\/u><\/p>\n<ul>\n<li>It is estimated that 87% of computers and electronics, which constitute the largest share of Chinese exports to the U.S., includes parts from other countries like South Korea, Japan, and the U.S. itself.<\/li>\n<li>Exports from China account for 3% of Chinese manufacturing revenue.<\/li>\n<li>USA imports from china also include products from other countries.<\/li>\n<li>Non-Chinese owned companies account for almost 60% of Chinese exports to the U.S ranging from boat motors to Computer products.<\/li>\n<\/ul>\n<p><u>6. Impact of the measurement<\/u><\/p>\n<ul>\n<li>The net result is that the burden of the tariffs will be felt by consumers in the U.S. (e.g. Increase in price of Washing Machine in USA).<\/li>\n<li>Declined in South Korea\u2019s car export to China.<\/li>\n<li>Depreciation of Chinese currency by 7 % due to declined export.<\/li>\n<li>German car producers in USA faced negative impact after china retaliated with high tariff on USA.<\/li>\n<\/ul>\n<p>7. According to author, skilled labor play an important role in an economy with increasing involvement of computers and numerical controlled machine.<\/p>\n<p>8. Constant upgrading of labor skill is vital and Washington has made no effort.<\/p>\n<p>9. He has cited the example of Tim cook who has shifted his company in China not because of cheap labor but because of wider pool of skilled labor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tilting at windmills Article: Ravi Arvind Palat, has talked about structural issues associated with USA economy. Important Analysis: 2. Donald trump has imposed tariff on main trading partner e.g. Canada, China, the European Union, and Mexico. 3. Why USA has imposed: Due to industrial structures wages in USA has stagnated for almost 40 years. Trade&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/tilting-at-windmills\/\">Continue reading <span class=\"screen-reader-text\">Tilting at windmills<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-27838","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704727088},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=27838"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27838\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=27838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=27838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=27838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}