Peterson Institute Press

Robert Z. Lawrence to Discuss "Rising Tide: Is Growth in Emerging Economies Good for the United States?" at Bruegel in Brussels on June 13th

Drawing upon his latest book, Rising Tide: Is Growth in Emerging Economies Good for the United States?, Robert Z. Lawrence will evaluate the rising concerns on growth in developing countries and its effect on aggregate welfare, wage inequality, and the loss of manufacturing jobs.

Robert Z. Lawrence in the Washington Post: America's Trade Muddle

Washington Post columnist Robert Samuelson writes about the love-hate relationship with foreign trade that Americans have, largely drawing upon examples from PIIE's newest book, Rising Tide: Is Growth in Emerging Economies Good for the United States?

Robert Z. Lawrence in The Washington Post: Robert Z. Lawrence: 'A Really Healthy U.S. Economy...Will Have a Bigger Trade Deficit'

In this Q&A article, Robert Z. Lawrence discusses the findings in the Peterson Institute's newest book, Rising Tide: Is Growth in Emerging Economies Good for the United States? Lawrence coauthored the study with Lawrence Edwards.

Trade with Emerging Markets Benefits U.S., Study Says Embassy of the United States - Brussels, Belgium

The Embassy of the United States in Brussels posted a summary of Rising Tide on its website, highlighting how the US economy benefits from trade with and direct investment in emerging markets.

Robert Z. Lawrence in The Washington Post: This Chart Will Change How You Think About Manufacturing

This article focuses on a chart, "Manufacturing Share in Establishment Employment, 1961-2010," taken from Robert Z. Lawrence and Lawrence Edwards's presentation on Rising Tide: Is Growth in Emerging Economies Good for the United States?

Robert Z. Lawrence on CCTV America: Biz Asia America [5:38 mark]

Robert Z. Lawrence and Lawrence Edwards discuss their new PIIE book, Rising Tide: Is Growth in Emerging Economies Good for the United States?, during CCTV's "Thinkers Segment."

Robert Z. Lawrence on the Council on Foreign Relations: The Rising Tide: A New Look at Trade, Jobs, and Wages

In this article Edward Alden from the Council on Foreign Relations reviews the Peterson Institute's newest book, Rising Tide: Is Growth in Emerging Economies Good for the United States?, by Lawrence Edwards and Robert Z. Lawrence.

Robert Z. Lawrence in China Daily: China Not to Blame for US Job Loss

Chen Weihua, deputy editor of China Daily USA, writes about the Peterson Institute's newest book, Rising Tide: Is Growth in Emerging Economies Good for the United States?, and his own experience with automated business practices in the United States.

New Book: Rising Tide: Is Growth in Emerging Economies Good for the United States?

In 1963, US President John F. Kennedy said that "a rising tide lifts all the boats. And a partnership, by definition, serves both parties, without domination or unfair advantage." US international economic policy since World War II has been based on the premise that foreign economic growth is in America's economic, as well as political and security, self-interest. The bursting of the speculative dot.com bubble, slowing US growth, and the global financial crisis and its aftermath, however, have led to radical changes in Americans' perceptions of the benefits of global trade. Many Americans believe that trade with emerging-market economies is the most important reason for US job loss, especially in manufacturing, and is detrimental to American welfare and an important source of wage inequality. Several prominent economists have reinforced these public concerns.

In this study, Lawrence Edwards and Robert Z. Lawrence confront these fears through an extensive survey of the empirical literature and in depth analyses of the evidence. Their conclusions contradict several popular theories about the negative impact of US trade with developing countries. They find considerable evidence that while adjusting to foreign economic growth does present America with challenges, growth in emerging-market economies is in America's economic interest. It is hard, of course, for Americans to become used to a world in which the preponderance of economic activity is located in Asia. But one of America's great strengths is its adaptability. And if it does adapt, the American economy can be buoyed by that rising tide.

>> Rising Tide: Is Growth in Emerging Economies Good for the United States?, by Lawrence Edwards and Robert Z. Lawrence, is now available for preview and purchase online.

Latvia's Parliament Votes for the Euro | Author Aslund Comments on RealTime Blog

On January 31, the Latvian parliament gave final passage to a law applying for adoption of the euro. The vote was 52 to 40. The Latvian government will now submit an application to the European Union in February, and the European Commission will then prepare a report assessing whether Latvia is ready to join the euro area...

Read the full blog post by Anders Åslund on the Peterson Institute RealTime blog. Åslund is co-author of the book How Latvia Came through the Financial Crisis.

USTR Cites Global Trade in Services Book

Ambassador Ron Kirk cites J. Bradford Jensen's book Global Trade in Services: Fear, Facts, and Offshoring in Kirk's notification to Congress of the intent to launch new services trade negotiations. The letter calls for the global initiative with the potential to increase US exports by as much as $800 billion.

Joseph Joyce, Wellesley College, Wins $100 Worth of PIIE Press Books

Congratulations to Joseph P. Joyce (Wellesley College) on winning $100 worth of PIIE Press books at ASSA 2013 San Diego! Joyce has selected an excellent array of books, and is author of his own book The IMF and Global Financial Crises: Phoenix Rising? (Cambridge University Press, 2012). Fun Fact: The back cover of Joyce's book includes a quote from our very own senior fellow Ted Truman.

Axis of (don't be) Evil, or, Google Goes to North Korea | Marcus Noland Interviewed by NPR

Google's official company philosophy states as item #6: "You can make money without doing evil." Though Google has declined to formally comment on its executive Eric Schmidt's trip this week to North Korea, there is no doubt that his humanitarian mission with former New Mexico governor Bill Richardson is colored by a "don't be evil" attitude.

Today Marcus Noland, veteran North Korea watcher and coauthor of the book Witness to Transformation: Refugee Insights into North Korea, was a guest on NPR's Kojo Nnamdi Show. You can listen to his informative analysis on this controversial trip here.

Lastly, for a rare visual from the hermit kingdom, you can view Time's photo collection: "Eric Schmidt Went to North Korea and Looked At Things."

Two PIIE Press Titles Selected as 2012 Choice Outstanding Academic Title (OAT) Award Winners [subscription needed to view link]

The Peterson Institute congratulates the authors of two PIIE Press books included in the annual Choice Outstanding Academic Title (OAT) List for 2012. The award recipients are: Carbon Abatement Costs and Climate Change Finance by William R. Cline and A Decade of Debt by Carmen M. Reinhart and Kenneth S. Rogoff.The Choice editors select books based upon a number of metrics, including overall excellence in presentation and scholarship, importance relative to other literature in the field, originality, and value to undergraduate library collections. These two books in our Policy Analyses in International Economics Series are additionally relevant to the professional and policy communities.

The books, as well as others from the PIIE Press online bookstore, can be purchased for half off using the 30% Discount Facebook Offer on top of the already reduced online price for a limited time only.

2013 Annual ASSA Meeting | Visit Booth 211, PIIE Press

For those participating in San Diego's 2013 Annual ASSA Meeting, there are many special discounts to be had at the PIIE Press booth. Our booth (number 211) is all set up and we will be giving a free book to the first ten people who stop by tomorrow, Saturday, January 5! We hope you have a great conference and look forward to meeting you soon.

See the PIIE Press Foreign Affairs Jan/Feb 2013 Issue Ad for a Special Discount

As Foreign Affairs turns a new leaf in 2013 and "places its classic wine in a beautiful new bottle" (check out their new design), PIIE Press will also be adding a fresh twist to the magazine. See our ad in the first issue of the new year (Jan/Feb 2013) for a QR code special. Now you will be able to grab your smartphone (or your friend's) and scan the QR image on our ad for a bonus discount. It will take you to a website with a special code you can enter during online checkout at the PIIE Press bookstore website for an additional discount on your order as a thank you for visiting. Enjoy!

Dual Book Release Event | Understanding the Trans-Pacific Partnership

Peter A. Petri, Brandeis University, International Business School

Jeffrey J. Schott, Peterson Institute for International Economics

Peterson Institute for International Economics, Washington, DC

December 19, 2012

The Peterson Institute released two new Policy Analyses in International Economics examining the Trans-Pacific Partnership (TPP) on December 19, 2012. PIIE Senior Fellow Jeffrey J. Schott presented the findings of Understanding the Trans–Pacific Partnership (Policy Analysis 99), and Professor Peter A. Petri of Brandeis University similarly discussed The Trans–Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment (Policy Analysis 98). The TPP negotiations may achieve completion in 2013 and are the largest and most important trade talks taking place anywhere in the world.

The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment, coauthored by Peter A. Petri, Michael G. Plummer, and Fan Zhai, provides the most extensive analysis to date of the likely economic impact of both the TPP itself and the numerous Asia-only agreements that are already in place or under simultaneous consideration. It also analyzes the effect of possible eventual amalgamation of these "Pacific track" and "Asia track" arrangements into a comprehensive Free Trade Area of the Asia Pacific, the stated goal of the TPP participants, which would represent ultimate realization of the "Bogor goals" adopted by APEC in 1993–94.

Understanding the Trans–Pacific Partnership, coauthored by Jeffrey J. Schott, Barbara, Kotschwar, and Julia Muir, is a thorough appraisal of the current status of the negotiations, the main issues that remain to be resolved (including the possible addition of more participating countries), and the prospects for completing the talks.

Audio and video recordings of the event (along with the Q&A) are now available online.

Photographs below by Jeremey Tripp display Jeffrey J. Schott (left) and Peter A. Petri (right) presenting their findings.

Book Review | 'The Developing Economies' Reviews Foreign Direct Investment and Development

The Developing Economies December 2012 issue includes a thorough review of Foreign Direct Investment and Development: Launching a Second Generation of Policy Research: Avoiding the Mistakes of the First, Reevaluating Policies for Developed and Developing Countries (ISBN paper 978-0-88132-600-0, $27.95) by Theodore H. Moran. The review highlights Moran's extensive coverage of host countries (Thailand, Costa Rica, Mexico, and some Eastern European countries) and related case-study materials, culled from Moran's teaching career in international business, which greatly add value to the volume. It concludes that "Professor Moran should be commended for successfully launching a second generation of policy research in the area of FDI and development. The writing is solid and it is inspiring to read about the reinterpretation of major first-generation works in this area."

Buy this book online and save 20% off list price.

Marcus Noland, Coauthor of Witness to Transformation, Discusses the Dangers Posed by North Korea's Missile Test

Can the United States and its allies do anything to thwart North Korea's nuclear ambitions? Marcus Noland says that the north's successful rocket launch demonstrates its ability to defy worldwide economic and political pressure. Noland, who has written many books and articles about North Korea (see below for his most recent book) says the launch appears to strengthen the hand of Kim Jong Un, the country's young leader, but that the north must now miniaturize its nuclear warheads, increase its launch readiness and accuracy, and build up an inventory of weapons before its capability becomes a direct threat to the United States. He also assesses the likely Chinese, Russian, Japanese and South Korean reaction to the latest developments, concluding that they are unlikely to agree to major steps to curtail North Korea's actions.

The interview is conducted in two parts on the PIIE website.

You can also read Stephan Haggard's initial response to the missile launch; Marcus Noland's discussion of whether an Iron Dome defense system may be coming to the Korean peninsula; and South Korea's initial reaction, written by Stephan Haggard.

Noland and Haggard are coauthors of Witness to Transformation: Refugee Insights into North Korea (2011).

Arvind Subramanian's Book, Eclipse, Named Best Book by China Business News

The Peterson Institute for International Economics is pleased to announce that Eclipse: Living in the Shadow of China's Economic Dominance (2011), by Arvind Subramanian, has been named one of the three Best Books of 2012 by China Business News. Subramanian, a senior fellow at the Institute and at the Center for Global Development, shares this year's Best Book honor with Henry Kissinger for his book, On China, and with Zhou Xiaochuan, the governor of the Central Bank of China, for his book, The Global Financial Crisis: Observations, Analysis and Countermeasures. The award was presented during China Business News's annual conference in Beijing on November 24. Eclipse was published by the Peterson Institute and has been translated into Chinese, Japanese, and Spanish (forthcoming). There are more than 100,000 copies in print worldwide.

"We are extremely proud that Arvind's book has been recognized with this award for its important discussion of China's ascendance as an economic power," said C. Fred Bergsten, director of the Peterson Institute. "The award demonstrates that Arvind's historical and political analysis is spurring debate and discussion throughout the world, not just in the United States. He is in very good company with Dr. Kissinger and Governor Zhou!"

You can download a PDF of the press release here. You can also reach author Arvind Subramanian by tweeting to @arvindsubraman using the hashtag #ChinaEclipse.