The Economic Policy Institute has released a study citing Walmart’s trade deficit with China as the root cause of 400,000 jobs being lost from the US workforce, over 75 percent of which were in manufacturing. However, others say the news isn’t so grim.
Critical reaction to President Barack Obama’s blocking of the Keystone XL pipeline from the oil industry amounted to a shrug, perhaps because the US has constructed enough pipeline in the last five years to equal 10 Keystone projects, a new report stated.
With the release of the full text of the Trans-Pacific Partnership (TPP), a sharpening of arguments on both sides outline a debate about privacy, corporatism, internet freedom and intellectual property, and even the plight of whistleblowers.
Transparency advocate WikiLeaks has obtained and released the intellectual property chapter of the Trans-Pacific Partnership, the massive trade deal among Pacific Rim nations comprising 40 percent of global gross domestic product.
A dozen Pacific Rim nations reportedly reached an agreement on the Trans-Pacific Partnership, the secretive, US-orchestrated pact that seeks common standards among its members. Opponents say the deal is more about consolidation of power than "fair trade."
World carmakers have waited a long time to return to Iran, the biggest automobile market in the Middle East. When they re-enter after the international sanctions are dropped they will have to compete with Chinese rivals, the FT reports.
The oil price slid early on Monday ahead of a deal on Iran’s nuclear program as foreign ministers of Iran and six world powers hold a coordination meeting on Monday. Tehran has 30 million barrels of crude in storage to add to the global oil glut.