Dr. Michael Ivanovitch is an independent analyst focusing on world economy, geopolitics and investment strategy. He served as a senior economist at the OECD in Paris, international economist at the Federal Reserve Bank of New York and taught economics at Columbia Business School.
Follow him on Twitter: @msiglobal9
The four economies that accounted for 81 percent of America's trade deficit last year sold $943.3 billion more goods than they bought.
The Fed has been expanding its balance sheet – big time – by buying a huge amount of assets in exchange for cash to reassure equity and bond traders.
China's "win-win" approach to bilateral ties with the U.S. has been on the table since June 2013.
It seems that sitting on the fence will no longer do.
The European project is stalled by the French and German inability to respect and celebrate their differences.
America's physical limits to noninflationary growth are currently estimated at a pathetic 1.5 percent.
America's shift toward bilateral trade deals shows a total loss of faith in the ability of multilateral forums.
America's economic and international trade policies must change.