International Trade and Finance

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

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    China’s Market

    Oct 13, 10 • 272 Views • No Comments

    Sort of like jumbo shrimp and a working vacation, we could say that an authoritarian market is an oxymoron.The chief economist of the World Bank, Justin Yifu Lin, would disagree. As described in a recent New Yorker Magazine profile, Dr. Lin has an unusual...  [read more]

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    Supply, Demand, and Kimchi

    Oct 5, 10 • 352 Views • No Comments

    The kimchi mini-crisis is a perfect tale of supply and demand. Kimchi, “a fiery cabbage-based staple of Korea,” is typically made from “seasoned, fermented napa cabbage”. Farmers supply the napa cabbage for kimchi and demand comes from...  [read more]

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    More Than Chicken Feet

    Sep 29, 10 • 341 Views • No Comments

    Chicken feet are back in the news. But the story is about much more. A delicacy in China, chicken feet are a perfect U.S. export. Except for animal feed, there is little demand for them in the U.S. By contrast, the Chinese want our chicken feet. They are fat...  [read more]

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    Light Bulb Start-Ups

    Sep 18, 10 • 247 Views • No Comments

    Does it matter where a start-up ends up? One new energy efficient light bulb was developed in Florida, its inventor lives in Florida, and the bulbs are assembled in Florida. Soon to be sold at Home Depot, however, the state-of-the-art LED bulb is destined for...  [read more]

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    Time Matters

    Sep 14, 10 • 277 Views • No Comments

    In a brief and wonderful 2003 article called “Clocks and the Wealth of Nations“, economic historian David Landes explained the importance of accurate timekeeping. China missed navigational opportunities because they did not develop the precise...  [read more]