Nigerian economist Ngozi Okonjo-Iweala MCP ’78, PhD ’81 has been selected to lead the WTO, writes David McHugh for the AP. “Her first priority would be quickly addressing the economic and health consequences of the COVID-19 pandemic, such as by lifting export restrictions on supplies and vaccines and encouraging the manufacturing of vaccines in more countries,” writes McHugh.
New York Times reporter Ana Swanson highlights how MIT alumna Ngozi Okonjo-Iweala MCP ’78, PhD ’81 has been named the new director-general of the WTO. Okonjo-Iweala will be the first woman and first African to lead the WTO. “It’s been a long and tough road, full of uncertainty, but now it’s the dawn of a new day and the real work can begin,” she said.
TIME reporter Justin Worland writes about the selection of Ngozi Okonjo-Iweala MCP ’78, PhD ’81, an MIT graduate and the former finance minister of Nigeria, as the new director-general of the WTO. Okono-Iweala believe that “global trade can help ease the COVID-19 pandemic, tackle climate change and restore faith in the system of cooperation that has faltered in recent years,” writes Worland.
Alumna Ngozi Okonjo-Iweala MCP ’78, PhD ’81, a former Nigerian finance minister, has been named the new director- general of the World Trade Organization, reports William Wallace for the Financial Times. “Okonjo-Iweala sees an opportunity for the organization to rediscover some of its original purpose of raising living standards across the board and to bring its outdated rule book up to date at a time of accelerating change,” notes Wallace.
Writing for The Wall Street Journal, Prof. Yossi Sheffi examines the impact of the presidential election on U.S. – China trade relations. Sheffi notes that “business leaders should keep in mind that the trans-Pacific trade war hasn’t curtailed export shipments to the degree many feared.”
Writing for the New York Times, Prof. Yasheng Huang argues that Chinese policies favoring the state sector over the private sector have played a bigger role in the country’s economic slowdown than the current trade war. “That the Chinese economy is slowing down isn’t necessarily a bad thing, at least not in itself,” says Huang. “But a slowdown is a problem if it’s the result of poor policy.”
Writing for the New York Times, Prof. Yasheng Huang argues that Chinese policies favoring the state sector over the private sector have played a bigger role in the country’s economic slowdown than the current trade war. “That the Chinese economy is slowing down isn’t necessarily a bad thing, at least not in itself,” says Huang. “But a slowdown is a problem if it’s the result of poor policy.”
Prof. Kristin Forbes discusses monetary policy, currency wars and what she considers the biggest risk to the global economy with Daybreak Asia on Bloomberg TV. “For me, the biggest concern is what happens next on trade wars and especially the uncertainty around trade wars,” says Forbes.
Writing for The New York Times, Prof. Yasheng Huang examines how the U.S.-China trade war is influencing public perceptions in China. “Maximum-pressure tactics have delivered no meaningful results — other than undermining the good will of the Chinese public and its liberals toward America,” writes Huang. “The United States should de-escalate tensions and help China come back to the negotiating table.”
The Economist spotlights the work of Prof. David Autor and the influence of his research examining how labor markets respond to disruption. The Economist notes that Autor’s research “is enormously influential, in large part because of his groundbreaking work on the effects on American workers of China’s extraordinary rise.”
Prof. David Autor speaks with Brendan Greeley, host of the Financial Times “Alphachat” podcast, about how trade and automation impact the economy and labor market. Autor emphasizes that the U.S. needs to “invest in people,” adding, “if you want to share the gains broadly...you need to find a way to bring people along.”
Prof. Simon Johnson speaks with Ailsa Chang of NPR’s All Things Considered about the Trump administration’s plan to remove tariffs and trade barriers with the European Union. Johnson says a zero-tariff agreement would allow the U.S. to become more integrated with Europe.
The Economist explores the basics of free trade, its benefits and downsides, with Prof. John Van Reenen. “With free trade, you come into more contact with foreign companies, new ideas, new people and so on,” explains Van Reenen. “That’s mutually beneficial. And it is a political force for cooperation.”
Writing for The New York Times, Thomas Edsall highlights research by Profs. Daron Acemoglu and David Autor examining how automation and trade impacted the 2016 presidential election. “The swing to Republicans between 2008 and 2016 is quite a bit stronger in commuting zones most affected by industrial robots,” explains Acemoglu. “You don’t see much of the impact of robots in prior presidential elections.”
In an article for The Washington Post, Research Scientist Ashley Nunes examines a recent trade dispute involving Boeing Co. and Bombardier, Inc. Nunes explains that the dispute, “has fueled tensions among the United States, Canada and the United Kingdom.”