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Brazil, US Strike 'Framework' Deal in Cotton Dispute
Trade officials from Brazil and the United States reached a place-holder accord last week that delays until 2012 the imposition of trade sanctions in a protracted dispute over Washington’s cotton subsidies. The ‘framework’ deal that was announced on Friday outlines a new set of negotiations and consultations that will take place over the next two years…
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China Loosens Hold on Currency Ahead of G20 Summit
China’s central bank announced over the weekend that it would modestly relax its currency’s two-year-old peg to the US dollar, in a move calculated to defuse international tension over the yuan’s value ahead of the G20 summit in Toronto this week. The surprise decision came only days after Chinese state media rejected US lawmakers’ calls for…
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With Compromise Deal, EU Moves Toward Illegal Timber Ban
After more than two years of negotiations, the European Council and European Parliament have signed a provisional agreement that, if approved, would ban illegal timber from entering the EU. Finnish MEP Satu Hassi, who succeeded British MEP Caroline Lucas as the rapporteur for the regulation, called the proposed prohibition “an important precedent for taking responsibility for…
- In Brief
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US, EU Could Clash at G20 Summit
National stimulus packages, a global bank tax, and the European debt crisis will be among the issues on the table when the Group of 20 economic powers meet in Toronto this weekend. The heads of state of the 19 countries - plus the EU - that make up the G20 will come together for their…
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Australia, China Strengthen Trade Ties
A free trade agreement could be on the horizon for Australia and China, given the positive outcome of Monday’s talks between Australian Prime Minister Kevin Rudd and Chinese Vice President Xi Jinping. The two officials met in the Australian capital of Canberra during Xi’s 11-day tour of Australia, Bangladesh, Laos, and New Zealand. Despite recent concerns…
- Events
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Events
Coming up this week 24 June, Washington, US. HOW CAN CHINA REDUCE ITS RELIANCE ON NET EXPORTS? The Carnegie Endowment for International Peace will be hosting this seminar, which will feature Michael Pettis - a Beijing-based economist. The seminar will focus on the various factors that affect China’s trade surplus, including China’s currency. Pettis will…
- Resources
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Resources
HOW WOULD A TRADE DEAL ON COTTON AFFECT EXPORTING AND IMPORTING COUNTRIES? By Mario Jales, ICTSD, May 2010. This paper assesses the likely implications for exporting and importing countries from a trade deal in cotton. The study estimates the price, production and trade effects of reforming cotton subsidies and tariffs under alternative scenarios, with a…