Dollar & Sense: The Brookings Trade Podcast

What’s driving populism’s rise on both sides of the Atlantic?

January 21, 2020 11:00 - 24 minutes - 16.8 MB

Not long after the yellow vest movement called attention to the resurgence of populism, strikes and demonstrations over pension reforms have disrupted France. Across Europe, long-popular social democratic parties are losing power in the face of economic discontent, distrust of institutions, and anxiety about globalization. Similar sentiments have shaken up politics in the United States. In this episode of Dollar & Sense, David Dollar is joined by Célia Belin, a visiting fellow in the C...

Will the new US-China trade deal end the trade war?

January 16, 2020 17:21 - 12 minutes - 8.36 MB

The U.S. and China recently signed what's being called "phase one" of a trade agreement, rolling back some tariffs on Chinese goods in exchange for China promising increased purchases of U.S. goods and services. David Dollar breaks down the details of the new deal, including China's commitments on intellectual property rights and technology transfers, whether the U.S. can increase production to meet those export goals, and the likelihood of any further concessions anytime soon. Subscribe...

The Saudi Aramco IPO and the future of global oil markets

January 06, 2020 12:38 - 22 minutes - 30.4 MB

Last month, Saudi Arabia sold about 1.5% of Saudi Aramco, a government-owned oil company, in an in an initial public offering (IPO). Shares have been sold on the Tadawul, Saudi Arabia’s stock exchange, and while the IPO has valued Aramco at $1.7 trillion, its performance was disappointing overall. To discuss the Aramco IPO and other developments in the global oil market, David Dollar is joined by Samantha Gross, a fellow in the Foreign Policy program at Brookings and Energy Security and Cl...

Sen. Pat Toomey on why the USMCA falls short

December 20, 2019 11:00 - 19 minutes - 13.4 MB

Senator Pat Toomey (R-PA) has been an outspoken advocate of free trade and a critic of the United States-Mexico-Canada Agreement (USMCA), which recently passed in the House of Representatives. In this episode of Dollar & Sense, he joins host David Dollar to explain why. Sen. Toomey explains where he believes reforms to NAFTA are needed and why the USMCA falls short — with a focus on domestic content requirements, investor protections, and intellectual property rights. He also discusses the...

Is China undermining the global economic order or helping build it?

December 09, 2019 11:00 - 29 minutes - 20.5 MB

China faces criticism from many who perceive its actions as adversarial to the global economic order. At the same time, globalization helped lift 800 million Chinese out of poverty. What can we glean about Beijing’s approach to that order? Wang Huiyao, the founder and director of Center for China and Globalization, joins host David Dollar to discuss China’s economic development over recent decades and its evolving role in multilateral organizations like the World Bank, Asian Development Ba...

What have we learned from the trade war with China?

November 25, 2019 11:00 - 26 minutes - 18.1 MB

On the first episode of the Dollar & Sense podcast, released one year ago this week, Brookings Senior Fellows Eswar Prasad and David Dollar discussed the United States’ concerns with Chinese trade practices, including access to markets and intellectual property rights, that are at the root of the U.S.-China trade war. Prasad rejoins Dollar to reflect on what change has occurred in the past year – from recent developments in bilateral trade negotiations, to China’s domestic economic reforms a...

How do we police currency wars and manipulation?

November 11, 2019 11:00 - 30 minutes - 20.9 MB

Mark Sobel, the U.S. chairman of the Official Monetary and Financial Institutions Forum, joins Senior Fellow David Dollar to discuss contemporary issues in the international monetary system, including the strength of the dollar and what role a currency agreement could play in a U.S.-China trade deal. Sobel, who served as the U.S. representative at the International Monetary Fund, also offers his perspective on the challenges the IMF faces in trying to police currency manipulation, debates ov...

Sen. Rob Portman on the importance of a fair global trading system

October 28, 2019 10:30 - 30 minutes - 21.3 MB

Ohio Senator Rob Portman has been involved in shaping American trade policy throughout his career, from his role as the United States Trade Representative to position on the Senate Finance Committee. Today, he speaks with Brookings Senior Fellow David Dollar about the state of the U.S. trade relations with Mexico, Canada, and China, and the importance of enforcing fair trading norms around the world. Portman explains why he believes the proposed United States–Mexico–Canada Agreement (USMCA...

The US needs updated sanctions programs for an era of great power competition

October 14, 2019 10:30 - 23 minutes - 19 MB

Following the September 11th terrorist attacks in 2001, the United States developed a powerful set of sanctions aimed at restricting the financing of terrorist activities. While those tools were initially targeted at organizations like al-Qaida and later ISIS, they have also been applied to rogue states like Iran and North Korea. In this episode of Dollar & Sense, David Dollar is joined by Michael Greenwald, a fellow at the Harvard Kennedy School’s Belfer Center who helped design sanctions...

The story of Vietnam’s economic revolution

September 30, 2019 10:30 - 27 minutes - 18.9 MB

In this episode of Dollar & Sense, Senior Fellow David Dollar is in Hanoi, Vietnam to interview Madame Pham Chi Lan, the former secretary general of the Vietnam Chamber of Commerce and Industry, about the reforms that underpinned Vietnam’s economic revolution. Dollar and Madam Lan discuss how Vietnam opened itself to foreign trade and direct investment, the rise of the country’s private sector, and the repercussions of the U.S.-China trade war. Subscribe to Brookings podcasts here or on Ap...

How smart economic policy can help combat climate change

September 16, 2019 10:30 - 27 minutes - 18.8 MB

Ahead of the United Nations General Assembly and Climate Action Summit, World Resources Institute President and CEO Andrew Steer joins Senior Fellow David Dollar to discuss the steps countries are taking to address climate change and whether it's enough. Dollar and Steer focus on the economic policies that can combat rising global temperatures, including financial reforms, carbon pricing, public and private investments, and technological innovation. Subscribe to Brookings podcasts here or ...

A back to school primer on global trade issues

September 03, 2019 10:30 - 22 minutes - 15.5 MB

At Brookings, we often benefit from the support of talented students that intern with our research and communications teams. Some of those interns return to campus this week for the start of a new school year, and before their classes begin, we took the opportunity to ask what questions they have about today's volatile trade landscape. In this episode of Dollar & Sense, Senior Fellow David Dollar answers those questions and provides an overview of the big stories in trade policy, including t...

France is not alone in its plan to tax tech giants

August 19, 2019 09:30 - 23 minutes - 33 MB

Lilian Faulhaber, a professor at the Georgetown University Law Center, joins Senior Fellow David Dollar to discuss France’s new digital services tax and the implications it will have for large American tech companies like Google, Apple, Facebook, and Amazon. While the French plan may become a point of contention at the G7 summit in Biarritz, France later this month, similar proposals are being pursued in countries across Europe. Faulhaber explains the push for a digital tax in the United K...

Is China really manipulating its currency?

August 06, 2019 21:16 - 7 minutes - 4.96 MB

Amid a turbulent week in the U.S.-China trade war, Senior Fellow David Dollar explains why the value of China’s yuan is falling and whether the U.S. Treasury Department’s designation of China as a currency manipulator is accurate. Dollar also discusses the effect that the yuan’s depreciation had on the U.S. stock market, why markets stabilized on Tuesday, and the prospects of a de-escalation of tensions. Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP...

Where do the Democratic candidates stand on trade?

August 02, 2019 10:30 - 24 minutes - 33 MB

In this episode of Dollar & Sense, David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at Brookings, joins David Dollar as they offer their reactions to this week’s primary debates and unpack the trade policies of the Democratic candidates running for president. Wessel and Dollar describe how Democrats’ positions compare to President Trump’s trade policies, with a focus on Senators Warren and Sanders. They also discuss whether embracing free trade or protectionist ...

The geography of prosperity: How to help the areas lagging behind

July 22, 2019 09:30 - 25 minutes - 17.8 MB

Jay Shambaugh, a senior fellow at Brookings and director of the Hamilton Project, joins David Dollar to discuss why economic prosperity is concentrated in certain regions of the United States while other areas are left behind. Their conversation draws from “Place-based policies for shared economic growth,” a recent book from the Hamilton Project that presents strategies for addressing regional inequality and explains why many previous place-based proposals have failed. Shambaugh and Dollar...

Could China’s digital payment system be a model around the world?

July 08, 2019 09:00 - 29 minutes - 20.4 MB

Two Chinese companies – Alibaba and Tencent – have developed a new payment system that relies on digital wallets, smart phones, and QR codes, not on banks or bank-issued credit like the system prevalent in United States. Senior Fellow David Dollar is joined by Aaron Klein, the policy director of the Center on Regulation and Markets, to discuss the details of China’s system, whether it might become more common outside China, and the impact similar advances in financial technology could have a...

Chinese perspectives on trade and the economic tension with the US

June 24, 2019 09:00 - 27 minutes - 18.8 MB

In this episode of Dollar & Sense, economist and professor Yiping Huang joins David Dollar to discuss the drivers of economic growth in China. Their conversation spans China’s development since its initial economic liberalization in the 1970s, the role of foreign investment in the Chinese economy, and China’s perspective on growing trade tensions with the United States. Finally, Yiping explains his view of China’s optimal strategy in navigating U.S. trade negotiations and continued reform an...

Former USTR Charlene Barshefsky on the obstacles to a US-China trade deal

June 10, 2019 04:58 - 27 minutes - 19.3 MB

In this episode of Dollar & Sense, former United States Trade Representative Charlene Barshefsky joins David Dollar to discuss the history of the United States’ economic engagement with China. Their conversation covers China’s entry and membership in the World Trade Organization, how domestic Chinese politics have affected the country’s trade policies, and the lasting impact of the global financial crisis on U.S.-China relations. Finally, Barshefsky outlines the prospect of the two countries...

What's at stake in the US-Mexico tariff dispute?

June 06, 2019 18:55 - 6 minutes - 4.79 MB

In a special episode of Dollar & Sense, Fellow Geoffrey Gertz discusses the ongoing tariff dispute between Mexico and the United States. Gertz explains the likelihood of the Trump administration imposing tariffs and the potential costs those tariffs would have for both Mexico and the U.S. Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to [email protected], and follow us and tweet us at @policypodcasts on Twitter. Dollar and Sense is a part of the Brookings...

Southeast Asia: Caught in the middle of US-China competition

May 28, 2019 10:00 - 23 minutes - 15.9 MB

Are Southeast Asian nations being forced to choose between China and the United States on issues like infrastructure, trade, and security? That’s one of the key questions explored in this episode as host David Dollar interviews Jonathan Stromseth, the Lee Kuan Yew Chair in Southeast Asian Studies and a senior fellow at Brookings. Dollar and Stromseth tackle a variety of related issues, including the Free and Open Indo-Pacific strategy of the Trump administration; the effect that China’s econ...

What role do sanctions play in US foreign policy?

May 13, 2019 10:00 - 31 minutes - 28.5 MB

Elizabeth Rosenberg, a senior fellow at the Center for a New American Security, joins David Dollar to discuss the role financial and economic sanctions play in U.S. foreign policy. Their conversation outlines how sanctions have been imposed against Iran and North Korea, why the U.S. is uniquely positioned to use sanctions as an instrument, the strength of the dollar, and concerns with sanctions being overused as a means for reaching diplomatic ends. Subscribe to Brookings podcasts here or ...

Tariffs on China are no substitute for a trade deal

May 10, 2019 16:29 - 8 minutes - 7.61 MB

In a special episode of Dollar & Sense, Senior Fellow David Dollar provides an update on the state of U.S.-China trade talks following the latest round of negotiations in Washington this week. Dollar explains recent escalations and the new tariffs imposed by the Trump administration, what to anticipate as negotiations move forward, and new research on the impact tariffs have on U.S. firms and the economy. Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP...

China’s Belt and Road stretches to Africa

April 29, 2019 10:00 - 25 minutes - 17.3 MB

Deborah Brautigam, director of the China Africa Research Initiative at Johns Hopkins University’s School of Advanced International Studies, joins Senior Fellow David Dollar to discuss China’s Belt and Road Initiative and its implications for Africa. Brautigam and Dollar address the scale of Chinese financing in Africa and around the world, debt-trap diplomacy, labor issues, and much more. Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to [email protected], ...

Robert Koopman on global value chains and the WTO

April 15, 2019 10:00 - 24 minutes - 16.7 MB

Robert Koopman, the chief economist at the World Trade Organization (WTO), joins Senior Fellow David Dollar to discuss the role global value chains play in world trade and the effects they have on developing economies, advanced economies, and the WTO. Their conversation draws from a new report published by the WTO and its partners which summarizes research on global value chains and the implications of emerging technologies. Subscribe to Brookings podcasts here or on Apple Podcasts, send...

What's next for Brexit

April 01, 2019 10:00 - 26 minutes - 17.9 MB

Amanda Sloat, the Robert Bosch Senior Fellow in the Center on the United States and Europe, joins host David Dollar to give an update on Brexit. She explains why Brexit did not occur as originally expected on March 29; what the process for UK Prime Minister Theresa May, Parliament, and the EU looks like going forward; and important issues such as the Irish border, the UK's potential for pursuing an independent trade policy, the "Norway model," implications of a "no-deal" Brexit, and the poss...

Ernesto Zedillo on globalization, NAFTA and the wall

March 18, 2019 10:00 - 28 minutes - 19.8 MB

Ernesto Zedillo, former president of Mexico and now director of the Yale Center for the Study of Globalization, talks with David Dollar about the importance of globalization for developing countries, the erosion of multilateralism, NAFTA and its proposed replacement—the USMCA—and other issues on trade. Dollar also asks Zedillo whether President Trump’s push to build a border wall between the U.S. and Mexico is damaging the bilateral relationship. Subscribe to Brookings podcasts here or on ...

Wendy Cutler on how to enforce a US-China trade deal

March 04, 2019 08:00 - 27 minutes - 19 MB

Wendy Cutler, vice president of The Asia Society Policy Institute and former acting deputy U.S. trade representative, joins David Dollar to discuss the structural issues in the U.S.-China trade negotiations and how a trade agreement between the two countries could be enforced. Cutler and Dollar explain the enforcement mechanisms at the administration’s disposal, the issues of intellectual property rights and state enterprises, and much more. Subscribe to Brookings podcasts here or on Apple...

Why US-China trade talks are going into overtime

February 25, 2019 20:55 - 5 minutes - 3.66 MB

In a special episode of Dollar and Sense, David Dollar provides an update on the current state of U.S.-China trade negotiations. He explains why the March 1 deadline to reach a trade deal has been pushed back, what a potential agreement could look like, and how an agreement—once one is made—could be enforced. Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to [email protected], and follow us and tweet us at @policypodcasts on Twitter. Dollar and Sense is a ...

Janet Yellen on monetary policy, currencies, and manipulation

February 19, 2019 10:30 - 29 minutes - 20.2 MB

Currency values play a critical role in international trade, influencing the profitability of exporting and importing. Large movements in currency values are often controversial, leading to accusations of “manipulation” or even “currency wars.” In this episode, Janet Yellen, distinguished fellow in residence with the Economic Studies Program and former chair of the Board of Governors of the Federal Reserve System, discusses with host David Dollar the links among monetary policy, exchange ...

Trade priorities for Congress: A conversation with Rep. Rick Larsen

February 04, 2019 05:01 - 21 minutes - 15 MB

Senior Fellow David Dollar talks with Representative Rick Larsen (D-Wash.) about a range of trade issues on the 116th Congress's plate, including the U.S.-China trade war, the Trans-Pacific Partnership, trade with Japan, and the new NAFTA. Congressman Larsen represents Washington State's 2nd District, serves on the House Transportation and Infrastructure Committee and the House Armed Services Committee, and is co-chair of the bipartisan U.S.-China Working Group. Subscribe to Brookings podc...

Anxiety about the global economy in Davos

January 22, 2019 17:00 - 29 minutes - 20.1 MB

In this episode, Senior Fellow David Dollar and Nonresident Senior Fellow Douglas A. Rediker discuss the global economic conditions that will be on the minds of leaders assembled at the World Economic Forum in Davos, Switzerland. Rediker and Dollar cover the ongoing trade dispute between the U.S. and China, selection of the next World Bank president, the International Monetary Fund and World Trade Organization, and generalized uncertainties about the global economy. Subscribe to Brookings ...

How Trump’s trade policies will affect manufacturing

January 07, 2019 11:00 - 25 minutes - 17.7 MB

Senior Fellow David Dollar speaks with Brad Setser, the Steven A. Tananbaum senior fellow for international economics at the Council on Foreign Relations, about a range of trade topics, including currency issues, U.S.-China trade tensions, whether President Trump’s tariffs could affect manufacturing, and the proposed U.S.-Mexico-Canada trade agreement (USMCA). Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to [email protected], and follow us and tweet us at ...

All about the Trans-Pacific Partnership

December 24, 2018 11:30 - 25 minutes - 17.8 MB

On December 30, the Trans-Pacific Partnership trade agreement among 11 Asia-Pacific nations comes into effect. The United States was part of the original agreement, but the Trump administration pulled out of the trading bloc. David Dollar talks with Mireya Solís, director of the Center for East Asia Policy Studies at the Brookings Institution, about the TPP, its effects on tariffs, its provisions on e-commerce, and Japan's role in keeping the agreement alive after the U.S. departed. Discussi...

Trade issues for the new Congress and the 2020 election

December 10, 2018 11:00 - 24 minutes - 16.9 MB

Brookings Institution Senior Fellow David Dollar speaks with Elaine Kamarck, senior fellow in Governance Studies at Brookings, about the role trade issues played in the 2018 midterm elections, and what trade matters are likely to come up for the new Congress, such as tariffs and the auto industry. Also, Dollar and Kamarck look ahead to how trade might impact the 2020 presidential race for both parties. Subscribe to Brookings podcasts here or on Apple Podcasts, send feedback email to BCP@Br...

US-China trade war, or trade deal?

November 26, 2018 05:01 - 26 minutes - 18.1 MB

In this first episode of the new Brookings trade podcast Dollar & Sense, Senior Fellow David Dollar speaks with Senior Fellow Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University and a leading expert on the Chinese economy, about a range of issues in the U.S.-China relationship. The conversation includes topics such as U.S. and Chinese trade practices, bilateral trade balances, China's economy and currency, the U.S.-China trade war, and whether Presidents Trump and...

Introducing Dollar & Sense, a trade podcast from the Brookings Institution

November 14, 2018 14:29 - 1 minute - 1.35 MB

From tariffs and trade wars to the new Trans Pacific Partnership and NAFTA’s replacement, trade has been making a lot of headlines recently, especially since the election of Donald Trump who’s redefined America’s role on the global stage with his America-first posture. Dollar & Sense is a podcast about all things trade. From local ports and markets to international trade and diplomacy, Brookings Institution Senior Fellow David Dollar and guests explain how our global trading system is buil...