Is Trade/GDP mistaken? #FactfulFriday

Is Trade/GDP mistaken? #FactfulFriday

Icymi

My quip: 'GVC is two misconceptions wrapped up in a misunderstanding':
1) They are regional, not global
2) They are nets, not chains
3) They're about jobs, not value
worldbank.org/en/topic/globa…

What are the 4 things wrong with the trade-to-GDP ratio?
👉Today's Factful Friday by yours truly.(🔗linkedin.com/posts/richard-…) IMD

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profitability of US firms increased primarily due to increased foreign profitability
👉bigger sales with same intangible asset = ↗️profits
👉new evidence VoxEU
🔗 cepr.org/voxeu/columns/…

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This is a very good post. Trump's 10% across-the-board would mostly be offset be the exchange rate but is a disaster for other reasons.

The impact of Artificial Intelligence on productivity, distribution and growth
VoxEU 🔗 cepr.org/voxeu/columns/… OECD ➡️ Better Policies for Better Lives OECD ➡️ Better Policies for Better LivesEduSkills Luiss Guido Carli CEPR

Thx Pierre Louis,
👉I first wrote about telerobots in my 2016 book. Last chapter🌞. (🔗 books.google.ch/books/about/Th…)

Inward on sales side? On sourcing side? Both?

Why do they telecommute?
👉Individualism? lockdown stringency? population density?
👉Evidence from 34 nations VoxEU
✍️Nick Bloom & Cie Cevat Giray Aksoy The EBRD Stanford University Stanford UniversityEcon Jose Maria Barrero Hoover Institution CESifo pedro zarate

Does regional economic decline drive political discontent & Euroscepticism?
👉New evidence VoxEU
👉🖊️Andrés Rodríguez-Pose etal
(🔗 cepr.org/voxeu/columns/…) cc: European Commission CEPR LSE LSE EUROPP blog LSE Cities

Inward on sales side? On sourcing side? Both?

Ken Rogoff etal VoxEU
1. globalisation, market liberalisation, fiscal restraint were disinflationary.
2. These are reversing
➡️Occasional bouts of inflation more likely than bouts of deflation
(🔗 cepr.org/voxeu/columns/…) Harvard Department of Economics Yale Department of Economics Columbia Economics…

Non-bank financial intermediaries are bigger financial intermediaries than banks, but lightly regulated
👉 this VoxEU column argues for more and better regulation to avoid financial instabilities ✍️Viral SternNYU NY Fed Research
(🔗 cepr.org/voxeu/columns/…) CEPR

EU-China trade conflict coming soon!
👉Anyone want to bet that we’ll see managed trade solutions?
➡️VERs, price undertakings, etc

“about 0.4 per cent of all Russia’s expected non-energy budget”
👉Raiffeisen Bank International, UniCredit, ING, Commerzbank, Deutsche Bank, Intesa Sanpaolo and OTP
🔗 on.ft.com/3UBv6k3