Trade

China’s trade surplus declined in the first quarter, and during March the country ran a deficit of $7.2 billion, its first monthly trade deficit since 2004. Contrary to some analyses, this is not proof that the economy has made significant progress toward rebalancing or a reason for the United States to back away from pushing China on yuan appreciation.

Several months ago, a 63-year-old Harvard professor lost control of his 2005 Toyota Highlander, crashed into another car and died, along with two family members. Now the government is trying to decide whether Highlanders of this vintage are prone to sudden acceleration and should be added to the lengthy Toyota recall list.

I drive a 2005 Toyota Highlander, and ever since I read about the case of the 63-year-old Harvard professor, I’ve felt … well, nothing in particular. I mean, I’m sorry about the professor and his family, but I think this whole Toyota thing is overblown.

Speaking this past week at the Ex-Im Bank, President Obama laid out his strategy for doubling American exports within five years, a goal he announced in his State of the Union Address. Naming it the National Export Initiative, he described the strategy as “an ambitious effort to marshal the full resources of the United States government behind American businesses that sell their goods and services abroad.” The Initiative calls for the creation of an Export Promotion Cabinet, made up of the Secretaries of State, Treasury, Agriculture, Commerce, and Labor along with the United State

On January 21, 2010, the New America Foundation hosted Steven Hill, director of the Political Reform Program at New America, to discuss his new book, Europe’s Promise: Why the European Way is the Best Hope in an Insecure Age. The purpose of government today, Steven Hill stated, is to advance institutions that will create a high quality of life for our growing populations while simultaneously sustaining our planet.

This speech was delivered at The New School on May 19, 2009.

Views on the U.S. economy

The 2008 presidential election was not about globalization or U.S. trade policy. However, the challenges facing the administration of President Barack Obama-the financial crisis, the lengthening and deepening recession-are inextricably bound up with America's trading relationships.