Budget surpluses and social security reform: U.S. fiscal policy issues in 1998

In 1997 the US President and Congress concluded an agreement that imposed caps on discretionary government spending and which was expected to balance the budget by the year 2002. Just one year later the tide has turned: the fiscal year 1998 resulted in a US budget surplus for the first time since 1969. This article discusses the causes for this surprising development and the link between budget surpluses and Social Security's finances. It also relates some recent proposals on how to preserve the budget surplus for Social Security to the sustainability of fiscal policy.     

China's Macroeconomic Picture in 2008

In general China＇s economic development has basically been good until now. In 2007,China＇s economic growth rate stood at 11.9%,while in the first quarter of this year,this rate maintained 10.6% growth,as national fiscal revenue increased by 35.5% compared with the same period last year. However, more macro control measures for the economy are still ahead.     

Operation of the National Real Estate Market from Jan.to July,2009

From January to July this year, the total investment in real estate development amounted to 1,772.0 billion yuan, up by 11.6 percent year-on-year, and went up 1.7 percentage points over first half year, while that of a decrease of 19.3 percentage points over same period of previous year. Of which, investment in commercial residential buildings reached 1,242.7 billion yuan, 8.2 percent of increase year-on-year, picking up 0.9 percentage points over first half year, or 25.5 percentage points dropped over same period of previous year, which occupied 70.1 percent of the investment in real estate development.     

2010年前3季度船舶进出口情况分析

今年前3季度，我国船舶出口额294．46亿美元．同比增长47．19％：进口额13．5亿美元，同比下降31．85％。 今年前两个季度我国船舶产品的出口额基本呈现上涨的态势．自7月开始出现了出口额逐月收窄的趋势．9月份达到最低水平。     

China＇s Technology Imports up 56.5% in First Seven Months

China signed almost 6,400 technology import contracts worth US$14.83 billion in the first seven months of 2006, up 56.5% year on year, according to the Minis-try of Commerce.     

Im/Ex Difficulty Lasts in the First 5 Months

On June l 1, General Administration of Customs of the People＇s Reptlblic of China announced the profile of China foreign trade import and export in the first 5 months of this year. According to the customs＇ statistics, the total import anti export value for the first five months amounted to US$763.49 billion, 24.7% decreasing compared with the same period last year. Among the total value, the export value amounted to US$426.14 billion, down 21.8% year-on-year, while the import US$337.35 billion, 28% decreased year-on-year. And the trade surplus from January to May achieved US$88.79 billion, 15.7% growth year-on-year, a net growth of US$12.05 billion.     

Encounters ＆ Responses Trade Protectionism ——Export of Chinese Electronic Products

After several months＇ downtrend, the export market of Chinese flat-panel TV began to recover in the first quarter, with 5.815 million LCD TV sets exported to overseas, increasing by 17.7% from the same time of a year ago, and 132,000 plasma TV sets exported, up by 1.5% with the same comparison. Since the later half of 2008, export volume of color TV sets from China continued to decrease, making the exporters of such products in China really touch the influence of economic crisis. In February of this year, Buy American Act was adopted by US Congress, which reminded of the Smoot-Hawley Tariff Act in 1930s. To deal with the economic crisis then, the US government issued Smoot-Hawley Tariff Act, and highly lifted the tariff tax for over 2,000 types of products. Not long after the act, many countries like UK, France, Germany and so on took retaliatory measures against USA,     

China Textile and Apparel Exp. $51.44 Billion in the First Half Year

Reported by China Customs and the Statistic Center of China Textile Industry . Council, through Jan.-June, 2005., Chinatotal imp. ＆ exp. value of textile and apparel reached US$59.602 billion, increasing 17.82% compared with the same period of last year, and taking up 9.24% of China gross imp.＆ exp. value of foreign trade. Gross export value of textile and apparel in China was up to US$51.436 billion, increasing 20.75% compared with the same period of last year,     

R&I 400: segments. The 400 by segment

This ranking shows how companies that made the 1994 R&I 400 placed within their segments. The top segment, burgers, showed 7.0% growth over last year. Contractors, while again No. 2, lost 8.4%, the biggest loss of ground among the segments this year. Pizza (which split this year from Italian) still managed to place as the No. 3 segment. For the second year running, recreation increased more than any other segment--up 28.6%. Segment reports detailing trends and company news begin after this ranking on p. 32.     

Im/Ex in Feb Continues to Fall

February of 2009 witnessed the fourth consecutive months of shrinking trade value of China. On March 11, General Administration of Customs of the People＇s Republic of China announced the profile of China foreign trade import and export in the first two months of this year. According to the customs＇ statistics, the total import and export value for the first two months amounted to US$266.77 billion, 27.2% decreasing compared with the same period last year. Among the total value, the export value amounted to US$155.33 billion, down 21.1% year-on-year, while the import US$111.44 billion, 34.2% decreased year-on-year. And the trade surplus in January and February achieved US$43.89 billion, 59.6% growth year-on-year.     

Im/Ex Drop 10.7% in Oct.

On October 14, General Administration of Customs of the People＇s Republic of China released the profile of China foreign trade import and export in October and the first ten months of this year.     

China June Passenger Car Sales Rise 29% on Discounts

China＇s passenger car sales rose 29% in June as automakers cut prices to lure consumers.     

April,Another Recovering Month for Im/Ex

China＇s import and export in April,2009 continued to be another month of decreasing trade, the consecutive sixth month from last November.On May 12,General Administration of Customs of the People＇s Republic of China announced the profile of China foreign trade import and export in the first 4 months of this year.According to the customs＇ statistics,the total     

Declining Grain Output may Boost Inflation?

According to the announcement released by the National Bureau of Statistics on July 12th,China's annual summer grain output in 2010fell for the first time in 7 years to123.10 million tons,a drop of 0.3%,or 0.39 million tons less than the previous year.     

Colston E. Warne Lecture: Is It Time for Another Round of Consumer Protection? The Lessons of Twentieth-Century U.S. History

The first year of Barack Obama's presidency has returned consumer issues to center stage, with several contentious struggles over consumer protection. This moment can be viewed as a fourth wave of the twentieth-century consumer movement, and a comparison with the first three waves (during the Progressive Era, the New Deal, and the 1960s–1970s) offers instructive insights. In particular, the contemporary battle over the Consumer Financial Protection Agency bears striking similarities to the failed campaign for a Consumer Protection Agency in the 1970s.     

推土机行业：出口大发展

经历过金融危机的中国推土机行业在2010及2011年开始呈现新的发展态势,从近期出口运营数据可以看到,行业集中度正在逐步加强,龙头企业的主导地位持续提高。加之国家工程机械＂十二五＂规划的政策助力,推土机行业的大发展即将到来。     

A local bicycle helmet ‘law’ in a Swedish municipality – the effects on helmet use

The municipality of Motala in Sweden introduced a local bicycle helmet ‘law’ on May 1, 1996. This is not a legally enacted ordinance, but instead a legislated recommendation backed up by information and education. Formally, the law applies to children (aged 6–12 years), although the intention is to increase helmet use by all cyclists. The objective of the present study was to quantitatively evaluate the impact of the Motala helmet law on observed use of helmets by children and adults. Bicycle helmet use was monitored in Motala (n = 2,458/year) and in control towns (n = 17,818/year) both before and after adoption of the helmet law (1995–1998). Chi-square tests showed that helmet wearing 1995–1998 increased in Motala among all bicyclists (from 6.1% to 10.5%) and adults biking on cycle paths (from 1.8% to 7.6%). Helmet use by school children aged 6–12 increased during the first 6 months after introduction of the law (from 65.0% to 75.7%) but then progressively decreased to the pre-law level. Considering children cycling on cycle paths and for recreation in housing areas, there was a tendency towards increased helmet use during the first post-law year, but this was followed by a reduction to a lower level in 1998 than in 1995. Logistic regression analysis taking into account data from the control towns indicated that the helmet law had a positive effect on children cycling to schools during the first 6 months, and a weak delayed but more long-term positive effect on adult cyclists on cycle paths. There were no positive effects on children in housing areas and on cycle paths. The Motala helmet law probably would have had greater and more lasting effects on helmet use by bicyclists, if certain problems had been avoided during the initiation phase. Moreover, although it did have a positive influence on both school children and adults, it is not legally binding, and hence no penalties can be imposed. Presumably, compulsory legislation would have a more substantial impact on helmet wearing than a non-mandatory helmet ‘law’ such as that introduced in Motala.     

A Note on the Incidence and Possible Cost of “Critical Circumstances” Penalties in U.S. Antidumping Enforcement

This article examines the incidence and possible cost of “Critical Circumstances” penalties in U.S. antidumping enforcement. Critical Circumstances penalties are surprisingly common. Of the 297 foreign firms that were assessed antidumping duties greater than 25% during the period 1980–1995, 89 (or 30%) were also assessed a Critical Circumstances penalty. The volume of imports affected by these Critical Circumstances penalties was approximately $991 million over the 15 year period (or about $66 million per year). The average level of the Critical Circumstances penalties was about 79% of the value of the relevant commerce, assessed for a period of up to 90 days, or as much as $13 million per year. The economic cost to the United States from Critical Circumstances penalties comes largely from the reduction in export levels (increase in prices) that foreign firms may make in the expectation that a Critical Circumstances penalty may be assessed. The article presents evidence that foreign firms have restricted their exports to the United States to avoid or minimize Critical Circumstances penalties, and discusses a simple model that may illustrate how foreign firms react to the possibility of such penalties.     

Im/Ex in March Witnesses Recovery Signal

China＇s import and export in March, 2009 continued to be another month of decreasing trade. On April 10, General Administration of Customs of the People＇s Republic of China announced the profile of China foreign trade import and export in the first quarter of this year. According to the customs＇ statistics, the total import and export value for March amounted to US$162.02 billion, 20.9% decreasing compared with the same period last year. Among the total value, the export value amounted to US$90.29 billion, down 17.1% year-on-year,     

China to Strengthen Banking Supervision

China will strengthen supervision on the banking systen,said China＇s Vice Prenier Huang Ju on January 16.