Global Economy

US Dollar as the Global Currency

US Dollar as the Global Currency

The best thing the dollar has going for it is that its challengers are weak. The euro represents a monetary union, but there’s no central taxing and spending authority. Italy’s recent woes are only the latest challenge to the euro zone’s durability. China is another pretender to the throne. But China’s undemocratic leadership is wary of the openness to global trade and capital flows that having a widely used currency requires. In a December interview with Quartz news site, Eichengreen said, “Every true global currency in the history of the world has been the currency of a democracy or a political republic, as far back as the republican city-states of Venice, Florence, and Genoa in the 14th and 15th centuries.”

What Is A Tariff And Who Pays It?

What Is A Tariff And Who Pays It?

A tariff is a tax on imported goods […] it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US imposes a tariff on Chinese televisions, the duty is paid to the US Customs and Border Protection Service at the border by a US broker representing a US importer.

Extracting CO2 from Air

Extracting CO2 from Air

Addressing climate change isn’t just about moving to cleaner forms of energy anymore. It’s about literally taking out some of the heat-trapping gases already in our skies.

As next round of U.S. tariffs on China looms, both sides dig in

As next round of U.S. tariffs on China looms, both sides dig in

With U.S. President Donald Trump gearing up to impose tariffs on $200 billion in Chinese goods and Beijing certain to retaliate against any measures, the world’s two biggest economies are locked in an escalating trade war, with no resolution in sight.

Electric Mercedes opens German assault on Tesla

Electric Mercedes opens German assault on Tesla

The Mercedes EQC - whose launch program in Stockholm features yoga in a direct appeal to the Millennials who have flocked to Tesla - is the first production model under the carmaker’s electric EQ sub-brand. It will be closely followed by similarly hyped debuts for BMW and Audi.

Mexican Economy Stalls With Declines in Oil And Industry Output

Mexican Economy Stalls With Declines in Oil And Industry Output

Gross domestic product declined 0.2 percent from the previous quarter in seasonally adjusted terms, compared with the preliminary 0.1 percent contraction estimate and a 1 percent expansion in the first quarter, Mexico’s national statistics institute reported on Friday. Non-seasonally adjusted GDP rose 2.6 percent from a year earlier.

China tempts Britain with free trade, says door to U.S. talks open

China tempts Britain with free trade, says door to U.S. talks open

China offered Britain talks on a post-Brexit free trade deal on Monday, reaching out to London as Beijing remains mired in an increasingly bitter trade war with Washington, even as a senior Chinese diplomat reiterated its door remained open for dialogue.