Tariff bindings and administered protection are two characteristics of the WTO that are little understood. Tariff bindings place a ceiling on tariffs that is not always reached, while administered protection ensures that all sectors have access to some minimum import protection, effectively...

Trade policy is set by domestic political bargaining between globalists and protectionists, representing owners of factors specific to export and import-competing sectors respectively. Consistent with the post-Civil War Era of Restriction, protectionists implement high tariffs when status quo...

We analyze major transitions in U.S. trade policy using a two-factor, two-good, two-country model, where domestic policy is the outcome of political bargaining between two parties representing each factor owner—globalists and protectionists. The dominant party sets the agenda, but parties must...

Who is Xi Jinping? -- The blueprint for the realization of the China dream -- Internal reform in the Communist Party of China -- The major reforms deciding China's fate -- The innovation revolution: leading China's new economy -- The belt and road initiatives -- A great power requires a great...