Smart Power

The U.S. embargo on Cuba has been in place for half of Cuba’s independent history.

THE NUMBERS: American goods imports in 1955, from world and top 9 sources– WORLD $11,384 million Canada $2,655 million Brazil $632 million U.K. $616 million Venezuela $576 million Colombia $442 million Japan $432 million Cuba $422 million Mexico $397 million Germany $366 million WHAT THEY MEAN: Launched with the Eisenhower administration’s cancellation of Cuban sugar […]

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Global Economy

U.S. tariffs are 150 times higher on Cambodian goods than on Venezuelan goods.

Clothes and shoes are heavily taxed; accounting for 5 percent of imports, they usually bring in half of all tariff money. Therefore, in the absence of FTAs or developing-country tariff waivers, countries like Cambodia that make lots of them face high rates. High-tech products like phones and medicines, as well as natural resources like the chalk and oil, are rarely taxed at all. So countries that assemble lots of phones, produce lots of medicine, or (like Venezuela) pump lots of oil don’t see many tariffs.

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Global Economy

Panama Canal cargo capacity will double by 2016.

The largest 1,000 of the world’s 5,100 container ships are now too big for the Canal, and they account for half of all world container capacity. And the Canal can handle only 6 percent of the world’s LNG tankers, which implies a sharp limit on future shipments of natural gas from the American Gulf Coast to China and Japan. Hence the Canal is being redug.

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Poverty

Honduras’ murder rate is 15 times the world average, and 20 times the U.S. rate.

Writing in the Congressional newspaper “Roll Call,” New Democrat Coalition member Rep. Joe Garcia of Miamia and ProgressiveEconomy co-founder/GlobalWorks Foundation Chairman Claude Fontheim look at the humanitarian crisis posed by the flight of Central American children to the southern border. The two call for a “comprehensive economic development and security program for Central America,” aimed at economic development, capacity-building, and poverty reduction.

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