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China Shock
The China shock (or China trade shock) is the impact of rising Chinese exports on manufacturing employment in the United States and Europe after China's accession to the World Trade Organization in 2001. Studies have estimated that the China trade shock reduced U.S. manufacturing employment by 0.55 million (explaining about 16% of the total decline in manufacturing employment in the U.S. between 2000 and 2007), 1.8-2.0 million, and 2.0-2.4 million. Losses in manufacturing employment have also been observed in Norway, Spain, and Germany. Studies have shown that there was "higher unemployment, lower labor force participation, and reduced wages in local labor markets" in U.S. regions that have industries that competed with Chinese industries. Studies have shown that while some markets in the United States suffered adverse welfare and labor impacts, American trade led to net gains in employment and welfare over the period 1991-2011. These claims have been disputed by Economists David ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shock (economics)
In economics, a shock is an unexpected or unpredictable event that affects an economy, either positively or negatively. Technically, it is an unpredictable change in exogenous factors—that is, factors unexplained by an economic model—which may influence endogenous economic variables. The response of economic variables, such as GDP and employment, at the time of the shock and at subsequent times, is measured by an impulse response function. Types of shocks A technology shock is the kind resulting from a technological development that affects productivity. If the shock is due to constrained supply, it is termed a supply shock and usually results in price increases for a particular product. Supply shocks can be produced when accidents or disasters occur. The 2008 Western Australian gas crisis resulting from a pipeline explosion at Varanus Island is one example. A demand shock is a sudden change of the pattern of private expenditure, especially of consumption spending by cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brexit
Brexit (; a portmanteau of "British exit") was the withdrawal of the United Kingdom (UK) from the European Union (EU) at 23:00 GMT on 31 January 2020 (00:00 1 February 2020 CET).The UK also left the European Atomic Energy Community (EAEC or Euratom). The UK is the only sovereign country to have left the EU or the EC. Greenland left the EC (but became an OTC) on 1 February 1985. The UK had been a member state of the EU or its predecessor the European Communities (EC), sometimes of both at the same time, since 1 January 1973. Following Brexit, EU law and the Court of Justice of the European Union no longer have primacy over British laws, except in select areas in relation to Northern Ireland. The European Union (Withdrawal) Act 2018 retains relevant EU law as domestic law, which the UK can now amend or repeal. Under the terms of the Brexit withdrawal agreement, Northern Ireland continues to participate in the European Single Market in relation to goods, and to be a member o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Body Politic
The body politic is a polity—such as a city, realm, or state—considered metaphorically as a physical body. Historically, the sovereign is typically portrayed as the body's head, and the analogy may also be extended to other anatomical parts, as in political readings of Aesop's fable of "The Belly and the Members". The image originates in ancient Greek philosophy, beginning in the 6th century BC, and was later extended in Roman philosophy. Following the high and late medieval revival of the Byzantine ''Corpus Juris Civilis'' in Latin Europe, the "body politic" took on a jurisprudential significance by being identified with the legal theory of the corporation, gaining salience in political thought from the 13th century on. In English law the image of the body politic developed into the theory of the king's two bodies and the Crown as corporation sole. The metaphor was elaborated further from the Renaissance on, as medical knowledge based on Galen was challenged by think ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberal Democracy
Liberal democracy is the combination of a liberal political ideology that operates under an indirect democratic form of government. It is characterized by elections between multiple distinct political parties, a separation of powers into different branches of government, the rule of law in everyday life as part of an open society, a market economy with private property, and the equal protection of human rights, civil rights, civil liberties and political freedoms for all people. To define the system in practice, liberal democracies often draw upon a constitution, either codified (such as in the United States) or uncodified (such as in the United Kingdom), to delineate the powers of government and enshrine the social contract. After a period of expansion in the second half of the 20th century, liberal democracy became a prevalent political system in the world.Anna Lührmann, Seraphine F. Maerz, Sandra Grahn, Nazifa Alizada, Lisa Gastaldi, Sebastian Hellmeier, Garry Hindle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deaths Of Despair
The diseases of despair are three classes of behavior-related medical conditions that increase in groups of people who experience despair due to a sense that their long-term social and economic prospects are bleak. The three disease types are drug overdose (including alcohol overdose), suicide, and alcoholic liver disease. Diseases of despair, and the resulting deaths of despair, are high in the Appalachia region of the United States. The prevalence increased markedly during the first decades of the 21st century, especially among middle-aged and older working class White Americans starting in 2010, followed by an increase in mortality for Hispanic Americans in 2011 and African Americans in 2014. It gained media attention because of its connection to the opioid epidemic. For 2018, some 158,000 U.S. citizens died from these causes, compared to 65,000 in 1995. The economists Anne Case and Angus Deaton attribute this rising mortality to the flaws in contemporary capitalism. Deaths ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Permanent Normal Trade Relations
The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign nation. The designation was changed from '' most favored nation'' (MFN) to ''normal trade relations'' by Section 5003 of the Internal Revenue Service Restructuring and Reform Act of 1998. ''Permanent'' was added to ''normal trade relations'' some time later. In international trade, MFN status (or treatment) is awarded by one nation to another. It means that the receiving nation will be granted all trade advantages, such as low tariffs, that any other nation also receives. Thus, a nation with MFN status will not be discriminated against and will not be treated worse than any other nation with MFN status. Applicability Granting of permanent normal trade relations status is automatic, except where specifically denied by law. Embargoes also apply to additional parties; see United States embargoes. History In 1948, the United States joined the General Agreeme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Niskanen Center
The Niskanen Center is a Washington, D.C.-based think tank that advocates environmentalism, immigration reform, civil liberties, and strengthening social insurance around market-oriented principles. The center is named after William A. Niskanen, an economic adviser to President Ronald Reagan. The Center states that its "main audience is Washington insiders," and characterizes itself as a moderate think tank. History The Niskanen Center was founded in early 2015 by Jerry Taylor. At its launch, the center was composed primarily of former staffers of the Cato Institute who departed in the wake of a 2012 leadership struggle pitting Ed Crane (political activist), Ed Crane against the Koch Brothers for control of the libertarian think tank. Taylor and vice president Joe Coon publicly aligned themselves with Crane during the dispute. Both departed shortly after Crane was replaced by John A. Allison IV, John Allison as Cato's president as part of the settlement with the Kochs. Funding ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital media, digital subscribers. It also is a producer of popular podcasts such as ''The Daily (podcast), The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones (publisher), George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked List of newspapers by circulation, 18th in the world by circulation and List of newspapers in the United States, 3rd in the U.S. The paper is owned by the New York Times Company, which is Public company, publicly traded. It has been governed by the Sulzberger family since 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lega Nord
Lega Nord (; acronym: LN), whose complete name is (), is a right-wing, federalist, populist and conservative political party in Italy. In the run-up of the 2018 general election, the party was rebranded as (), without changing its official name. The party was nonetheless frequently referred to only as "Lega" even before the rebranding, and informally as the (). The party's latest elected leader was Matteo Salvini. In 1989, the LN was established as a federation of six regional parties from northern and north-central Italy (Liga Veneta, Lega Lombarda, Piemont Autonomista, Uniun Ligure, Lega Emiliano-Romagnola and Alleanza Toscana), which became the party's founding "national" sections in 1991. The party's founder and long-time federal secretary was Umberto Bossi, now federal president. The LN long advocated the transformation of Italy from a unitary to a federated state, fiscal federalism, regionalism and greater regional autonomy, especially for northern regions. At ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2016 United States Presidential Election
The 2016 United States presidential election was the 58th quadrennial presidential election, held on Tuesday, November 8, 2016. The Republican ticket of businessman Donald Trump and Indiana governor Mike Pence defeated the Democratic ticket of former secretary of state and First Lady of the United States Hillary Clinton and the United States senator from Virginia Tim Kaine, in what was considered a large upset. Trump took office as the 45th president, and Pence as the 48th vice president, on January 20, 2017. It was the fifth and most recent presidential election in which the winning candidate lost the popular vote. It was also the sixth presidential election, and the first since 1944, in which both major party candidates were registered in the same home state. Per the Twenty-second Amendment to the United States Constitution, then-incumbent president Barack Obama was ineligible to seek a third term. Clinton defeated self-described democratic socialist Senator Ber ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donald Trump
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of Pennsylvania with a bachelor's degree in 1968. He became president of his father's real estate business in 1971 and renamed it The Trump Organization. He expanded the company's operations to building and renovating skyscrapers, hotels, casinos, and golf courses. He later started side ventures, mostly by licensing his name. From 2004 to 2015, he co-produced and hosted the reality television series ''The Apprentice (American TV series), The Apprentice''. Trump and his businesses have been involved in more than 4,000 state and federal legal actions, including six bankruptcies. Trump's political positions have been described as populist, protectionist, isolationist, and nationalist. He won the 2016 United States presidential election as the Repu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Polarization
Political polarization (spelled ''polarisation'' in British English) is the divergence of political attitudes away from the center, towards ideological extremes. Most discussions of polarization in political science consider polarization in the context of political parties and democratic systems of government. In two-party systems, political polarization usually embodies the tension of its binary political ideologies and partisan identities. However, some political scientists assert that contemporary polarization depends less on policy differences on a left and right scale but increasingly on other divisions such as religious against secular, nationalist against globalist, traditional against modern, or rural against urban. Polarization is associated with the process of politicization. Scholars distinguish between ideological polarization (differences between the policy positions) and affective polarization (an emotional dislike and distrust of political out-groups). Definitions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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