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[Delong.typepad.com] Brad DeLong's Semi-Daily Journal: International Trade: RGE - With the US current account deficit close to a trillion dollars of course foreigners will soon own most of the US capital stock: The current political saga and debate about the purchase by a Dubai-based company of the management of six US ports misses the most crucial point: with a US current account deficit running towards $900b this year and probably above one trillion $ next year, in a matter of a few years foreigners may end up owning most of the U.S. capital stocks: ports, factories, corporations, land, real estate and even our national parks. This is basic accounting: if you run a current account deficit (import more than export, spend more than your income, save less than you invest) you need to borrow from the rest of the world to finance such excess of spending (on private and public consumption and investment) over your national income.

 [Janegalt.net] Asymmetrical Information: Strike a blow for free trade: As the world economy returns to a more solid footing I expect we will once again move towards more and freer international trade. Posted by: Joe Blog on ...

 [Lean Blog] Labor Woes - Just Not the Kind You Think: When people talk about labor, they often focus on unions, disengaged employees and high wages. But there is a much bigger problem facing manufacturers today - a real skills shortage.

 [THE FILIPINO MIND] Resource-rich but Poor Nations - Why?: Native Filipinos, especially the so-called educated and the majority in the homeland, need to learn, understand and realize that the present and popularized "free-trade" aka globalized economy will not lead to their own and their children's long-term betterment. They need to know that our economic deterioration, especially in the last 35 years or so, has been facilitated by religiously following developmental rules (which condemn nationalism and protectionism) formulated by the rich and strong nations.

[Bioenergy pact between Europe and Africa] Unilever thinks food prices would soar in... : the company fears that Europe-wide plans for a huge increase in use of vegetable oils, such as rapeseed and palm oil, in the manufacture of biofuels will have dramatic consequences, driving up the cost of foods such as margarine and leading consumers to switch to less healthy animal fats. Huge efforts are being made to promote biodiesel amid concern over the rising cost of oil and reliance on the Middle East for supplies.

 [TurcoPundit] Foreign Press Review - April 08 2006: H19 CSIS The Paths Ahead: Missile Defense in Asia A new study from CSIS Senior Vice President Kurt Campbell and Senior Fellow Jeremiah Gertler analyzes the ballistic missile defense situation in Asia and possible U.S. policy options. Read More

 [Poverty News Blog] [Globalization] Corporate earnings soar as wage... : Using an example of two nations (Portugal and England) and two commodities (wine and cloth), Ricardo argued that trade would be beneficial even if Portugal held an absolute cost advantage over England in both commodities. Ricardo's case was that there are gains from trade if each nation specialises completely in the production of the good in which it has a "comparative" cost advantage in producing, and then trades with the other nation for the other good.

Reflected tags on Technorati: Blog, International Trade, EconWatch.com