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Tag Archives: globallization

Making News: New Marketwatch.com Op-Ed on Trump and NAFTA

20 Tuesday Sep 2016

Posted by Alan Tonelson in Uncategorized

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2016 elections, Donald Trump, globallization, Making News, Marketwatch.com, NAFTA, North American Free Trade Agreement, Trade

I’m pleased to report that my latest op-ed piece has just been published by Marketwatch.com.  Available at this link, it argues that Donald Trump has nailed it regarding what’s really wrong with the North American Free Trade Agreement (NAFTA): Rather than creating meaningful incentives for companies all over the world to manufacture in North America – as its founders intended – the two decade-old free trade zone has foolishly permitted goods from Europe and Asia to keep pouring into the U.S., Canadian, and Mexican economies almost unimpeded.

Keep checking in at RealityChek for the news on upcoming publications and other events!

 

(What’s Left of) Our Economy: Auto Journalism from Fortune that’s a Lemon

30 Tuesday Jun 2015

Posted by Alan Tonelson in (What's Left of) Our Economy

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automotive, Cars.com, Department of Transportation, Detroit automakers, domestic content, Fortune, free trade, globallization, journalism, Made in America, manufacturing, NAFTA, North American Free Trade Agreement, Trade, {What's Left of) Our Economy

Memo to journalists at Fortune: If you want to run an “Aha!”-type item based on a new report or study, at least read the whole document – and report all its main findings. Because apparently no one involved in its coverage of the latest Cars.com index of American-made cars and light trucks followed this rule, its readers were denied crucial facts and context.

Here’s how Fortune led off the post in question: “The phrase ‘made in America’ has always pulled at the hearts and wallets of loyal, red-blooded consumers, and never more so than in the automotive space. But according to research released Monday, the car company that qualifies as most American is….the Toyota Camry.” 

And in case you have any doubts about the main point Fortune wanted to make, here’s what the magazine concluded after spotlighting two more “surprises” about declining domestic content in vehicles sold in the U.S. market: “Globalization is here.” If you think this it’s coincidental that this observation came on the heels of a knock-down drag-out fight in Congress on trade policy, I’ve got some turnip truck tickets to sell you.

More damning evidence that Fortune was looking for a chance to score some cheap rhetorical free trade points comes from what the magazine ignored in the Cars.com study: its observation – based on official U.S. Transportation Department data – that “Detroit has the bulk of cars with high domestic content. GM, Ford and Fiat Chrysler Automobiles build 37 of the 57 U.S.-assembled cars with 60 percent or higher domestic content. Foreign-based automakers are responsible for dozens of imported cars with zero percent domestic content, according to the National Highway Traffic Safety Administration [NHTSA]. Detroit automakers have just two cars below 5 percent….”

Moreover, had Fortune bothered to look at the latest set of government statistics and Cars.com’s observations, it would have spotted some important differences. For example, Cars.com found that “The Toyota Camry took the top spot this year, as 2014’s top vehicle,” with 75 percent of its content coming from either the United States or Canada. (NHTSA weirdly has never distinguished between the two.) But in April, Washington reported that nine models were at the 75 percent mark, and six came from the Detroit automakers.

And had Fortune gone to the source, it also might not have written that “A Chrysler hasn’t shown up [on the 75 percent list] since 2012.” The NHTSA data place the Dodge Grand Caravan in that select company.

Fortune is of course free to like free trade as much as it wishes – though an intellectually honest publication would at least mention that government decisions like the pursuit of the North American Free Trade Agreement have shaped automotive (and other manufacturing) production patterns at least as much as “globalization” – a term whose combination of sweep and vagueness inevitably implies… inevitability. But it shouldn’t be free to cherry pick findings it likes and present the slanted results as straight news.

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Guest Posts

  • (What's Left of) Our Economy
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  • Glad I Didn't Say That!
  • Golden Oldies
  • Guest Posts
  • Housekeeping
  • Housekeeping
  • Im-Politic
  • In the News
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  • Our So-Called Foreign Policy
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Current Thoughts on Trade

Terence P. Stewart

Protecting U.S. Workers

Marc to Market

So Much Nonsense Out There, So Little Time....

Alastair Winter

Chief Economist at Daniel Stewart & Co - Trying to make sense of Global Markets, Macroeconomics & Politics

Smaulgld

Real Estate + Economics + Gold + Silver

Reclaim the American Dream

So Much Nonsense Out There, So Little Time....

Mickey Kaus

Kausfiles

David Stockman's Contra Corner

Washington Decoded

So Much Nonsense Out There, So Little Time....

Upon Closer inspection

Keep America At Work

Sober Look

So Much Nonsense Out There, So Little Time....

Credit Writedowns

Finance, Economics and Markets

GubbmintCheese

So Much Nonsense Out There, So Little Time....

VoxEU.org: Recent Articles

So Much Nonsense Out There, So Little Time....

Michael Pettis' CHINA FINANCIAL MARKETS

New Economic Populist

So Much Nonsense Out There, So Little Time....

George Magnus

So Much Nonsense Out There, So Little Time....

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