Blog

Blog

In Memoriam: Bernard L. Schwartz
03.14.2024

by Will Marshall I always figured if anyone could make it to 100, it would be Bernard Schwartz. Shrewd, indefatigable, and deeply engaged in civic and political life, Bernard had every reason to get up every day, dressed for success and make his way to his midtown office to watch over a city he loved…

Trade Fact of the Week: Half of the world’s 3.51 billion workers don’t have regular pay or labor law protections.
03.13.2024

FACT: Half of the world’s 3.51 billion workers don’t have regular pay or labor law protections. THE NUMBERS: World labor force, 2024* – Total labor force 3.70 billion Employed 3.51 billion Working for wages and salaries 1,780 million “Self-employed”* 1,625 million “Formal sector” workers with wage, inspection, & other rules: 1,660 million “Informal” sector workers…

Trade Fact of the Week: Americans buy 11 tons of Ukrainian honey daily
03.06.2024

FACT: Americans buy 11 tons of Ukrainian honey daily. THE NUMBERS: Sample U.S. imports from Ukraine, 2023 – Sunflower oil 31,262 tons Honey 4,075 tons Apple juice 123 million liters Hockey sticks 173,000 Electric coffeemakers 176,000 Pig iron 1.1 million tons   WHAT THEY MEAN: Here’s Jonathan Swift praising bees three centuries back: “We have…

Trade Fact of the Week: African American owned businesses export over $1 billion worth of goods per year.
02.28.2024

FACT: African American owned businesses export over $1 billion worth of goods per year. THE NUMBERS: African American owned exporting businesses* – 2021 1,139 exporters, $1.12 billion in exports 2020 1,001 exporters, $1.10 billion in exports 2019 1,514 exporters, $0.81 billion in exports 2018 1,400 exporters, $0.83 billion in exports 2017 1,200 exporters, $0.62 billion…

Odd Remarks by the U.S. Trade Representative
02.23.2024

During the “Big Tech” era, the US economy has substantially outperformed major European countries, and that advantage only widened in the pandemic years. Since 2007, U.S. productivity growth has averaged 1.2% per year, compared to only  0.1% annually for France and Germany (Table 1). And real wage growth in the U.S. averaged 1.1% annually, compared…

Trade Fact of the Week: American steel output lower in 2023 than in 2017; aluminum about the same as 2017.
02.21.2024

FACT: American steel output lower in 2023 than in 2017; aluminum about the same as 2017. THE NUMBERS: U.S. steel use* – 2023:   93 million tons 2022:   96.9 million tons 2021:   98.9 million tons 2012-2017 average: 100 million tons * U.S. Geological Survey, annual ‘apparent consumption’’ WHAT THEY MEAN: Six years later,…

Navigating the Winds of Change: Asset Managers’ Strategic Shifts in Climate Initiatives
02.20.2024

The finance industry has, until recently, taken a collective approach to climate change, showing a united front in addressing one of the great challenges of our time. But that groupthink approach is evolving, as seen by recent third-party engagement modifications made by top asset managers such as BlackRock, JPMorgan Asset Management, and State Street Global…

Trade Fact of the Week: Each January, the U.S. imports 11 million roses a day
02.14.2024

FACT: Each January, the U.S. imports 11 million roses a day. THE NUMBERS: Top sources of roses, January 2023 – Colombia 177 million stems Ecuador 137 million stems Guatemala     4 million stems Ethiopia     2 million stems Mexico     1 million stems Kenya     0.4 million stems   WHAT THEY…

New data on ridesharing driver earnings
02.08.2024

How much do ride-sharing drivers earn? Lyft has just released a paper that sheds light on this important policy question. The paper estimates “earnings after expenses” for drivers on the Lyft platform, based on reasonable and straightforward accounting for additional driver costs such as fuel, maintenance, cleaning, and depreciation. The Lyft paper finds that the…

Trade Fact of the Week: U.S. Geological Survey: 33,000 tons of gold out there under the hills
02.07.2024

FACT: U.S. Geological Survey: 33,000 tons of gold out there under the hills. THE NUMBERS: Quantity of gold “above ground” worldwide –  2024: 212,582 tons* 2000: 144,000 tons? 1950:   70,000 tons? 1900:   30,000 tons? 1500:    ~5,000 – 15,000 tons? * World Gold Council estimate. WHAT THEY MEAN: Previewing the betrayals, the shattered dreams,…

Europe’s App Store Regulation Experiment
02.02.2024

The European Union is running a massive regulatory and economic experiment. In information technology, a key sector where the region is lagging, the EU has adopted several pieces of prescriptive legislation — including the Digital Markets Act (DMA) — designed to change the behavior of the most successful tech companies (none of which are European).…

PPI’s Trade Fact of the Week: WTO members will decide whether to preserve “duty-free cyberspace” by February 29.
01.31.2024

FACT: WTO members will decide whether to preserve “duty-free cyberspace” by February 29. THE NUMBERS: Internet users as a share of the worldwide population –  2024:      67% 2018:      49% 2012:      34% 1998*:       3% The WTO membership approved ‘duty-free cyberspace’ in May 1998. WHAT THEY MEAN: In PPI’s latest…