Economics News

Lovely speaks to Reuters, Yahoo Finance, Bloomberg about USMCA, China

"The champagne isn’t quite as fizzy as we might have expected - even under the best of circumstances - and there’s trouble coming from all sides," Professor Mary Lovely told Reuters about the U.S.-Mexico-Canada Agreement. "This could be a trade agreement that quickly ends up in dispute and higher trade barriers." Lovely also spoke to Yahoo Finance and Bloomberg about US-China tensions.

Mitra discusses what India needs to do to attract GSCs in ET

"View: India has to catch up in infrastructure and skill-building to play role in global supply chains," written by Devashish Mitra, Gerald B. and Daphna Cramer Professor of Global Affairs, was published in the Economic Times. Mitra says attracting global supply chains (GCS) to India is actually very hard work. "There is no strategy other than considerable additional investment and effort into infrastructure and skill-building, tackling power bottlenecks, reforms in labour and land regulations and keeping protectionist forces at bay," he says.

Lovely discusses Trump's Hong Kong policy in CNN article

"Revoking the city's special status will subject its exports to the high tariffs the president levied against China during his ongoing trade war," says Professor Mary Lovely. "But this change will barely budge the status quo," she says, "because Hong Kong's economy consists mostly of financial, logistical and other services, not manufactured goods." Her article, "Trump's removal of Hong Kong's special status hurts the US more than China," was published on CNN.com.

Tóbiás featured in WalletHub article on economic fallout from COVID-19

Áron Tóbiás, assistant professor of economics, says the most important lesson that state authorities can learn from the economic fallout of this pandemic is "the unexpected happens—better be prepared." He adds, "From a public finance perspective, state governments (and the federal government, too) might want to think about setting up more robust rainy-day funds once this crisis is over." Read more in the WalletHub article "States That Need Most Financial Help Due to COVID-19."

Lovely comments on the future of the US-China trade deal in SCMP

"The priority the two sides are placing on the deal is not so much a way to repair damage as it is to not cause further damage," says Professor Mary Lovely. "If the US announces the deal is dead, Trump is locked into some kind of retaliation." Read more in the South China Morning Post article "Donald Trump says China is buying ‘a lot’ of US products."

Mitra discusses India's need for an effective rescue plan in ET

"As reviving the economy is not possible without restarting production, there needs to be a phased exit from the lockdown through extensive testing that identifies people who can go back to work with the confidence that they won’t contract the disease from others," says Devashish Mitra. His article "View: India needs structural reforms for growth to make a strong comeback," was published in the Economic Times.

Lovely weighs in on US-China trade deal targets, tensions on NPR

Professor Mary Lovely says targets for exports of farm goods, factory products, and crude oil were always going to be a stretch. And the coronavirus pandemic has made things worse. "The world has changed," Lovely says. "And clearly, China's purchases are going to be affected." Lovely was interviewed by NPR for the segment titled "U.S.-China Tensions Were Already High. Pandemic And Hong Kong Have Made Things Worse."

Lovely quoted in SBG article on COVID-19, US manufacturing

Professor Mary Lovely believes maintaining a globalized economy is more sustainable for the countries involved than moving manufacturing to the United States unnecessarily. "There’s this idea that there’s a fixed number of jobs to go around and we need to bring them back here for people to have," she says. "That’s not exactly true." Lovely was interviewed for the Sinclair Broadcast Group article "Pandemic exposes need to bring some manufacturing back to US."

Mitra recommends AEZ model for India's economy in Economic Times

In his co-authored article titled "View: How a successful 'AEZ Model' can remove India's structural bottlenecks," Devashish Mitra, Gerald B. and Daphna Cramer Professor of Global Affairs, explains how the use of Autonomous Economic Zones (AEZs) can be helpful in accelerating the creation of well paying jobs in India. The piece was published in the Economic Times.

Maxwell faculty and students honored with 2020 One University awards

Syracuse University announced its 2020 One University Awards, honoring members of the University community for their scholarship, teaching, academic achievement, leadership and service. The annual ceremony was scheduled to take place on April 17 in Hendricks Chapel, but was canceled due to COVID-19 guidelines.

Maxwell students selected as 2020-21 Remembrance Scholars

Ten Maxwell students were among the 35 students selected to be the 2020-21 Remembrance Scholars by Syracuse University’s Remembrance Scholar Selection Committee. The scholarships, now in their 31st year, were founded as a tribute to—and means of remembering—the 35 students who were killed in the Dec. 21, 1988, bombing of Pan Am Flight 103 over Lockerbie, Scotland.

Flores-Lagunes gives advice to 2020 graduates in Syracuse.com

Graduate school is generally a smart option for students graduating during an economic downturn, provided they balance the added debt with demand for jobs in their desired profession, says Professor of Economics Alfonso Flores-Lagunes. He was interviewed by Syracuse.com for the article “Class of 2020 remains upbeat as it faces worst unemployment since Great Depression.”

Lovely discusses COVID-19 impact on US-China trade deal in WSJ

"There are going to be a lot of businesses in China that are not going to survive this," says Mary Lovely, referring to the lockdowns associated with the coronavirus. "They’re definitely going to have trouble." Lovely was interviewed for the Wall Street Journal article "U.S. March Trade Deficit Widened as Coronavirus Disruptions Spread."

Perry Singleton funded by University of Kentucky poverty center

Perry Singleton, associate professor of economics, received a $46,500 grant from the University of Kentucky’s Center for Poverty Research to fund his project, "The Effect of Social Security Retirement Benefits on Food-Related Hardship among Older Americans."

Lovely quoted in HuffPost article on red flag in US-China trade deal

"This is not a trade agreement. This is more like a hostage situation," says Professor Mary Lovely. Her quote appears in the HuffPost article "China Demand For ‘Other Unforeseeable Event’ Out In Trade Deal Was Possible Red Flag."

Lovely quoted in USA Today article on face mask imports from China

"Suppliers may not have been able to supply as much as was demanded because they needed to provide it to the local economy, and the Chinese factories were simply not operating," says Professor Mary Lovely. She was interviewed for the USA Today article "The US needs masks to fight coronavirus, but supplies from China fell as demand rose."

Lovely explains the economic impact of coronavirus on CGTN

"We're looking at a labor market catastrophe right now here in the United States," says Professor Mary Lovely. "What we seem to need right now is employment support to keep these people attached to their employers and able to get back to work relatively quickly when the economy comes back." Lovely was interviewed on CGTN's The Heat for a segment on the latest on COVID-19.

Lovely op-ed on addressing economic impact of COVID-19 featured on CNN

"Getting rid of these tariffs will remove a painful yoke that had depressed American manufacturing and farming long before the coronavirus hit our shores," says Professor Mary Lovely. Her article "What Trump can do now to rescue America's factories and farms," was published by CNN.

Lovely quoted in Washington Times article on US-China trade deal

"There’s a real question as to the economic capacity in both countries [right now]," says Professor Mary Lovely, adding that "it’s hopeful that the officials are saying that they still intend to meet these obligations." Lovely was interviewed for the Washington Times article "China trade deal holding up despite strains, U.S. says."

Lovely talks to Marketplace about the impact of US suspending tariffs

Mary Lovely says that a suspension of tariffs would be aimed at U.S. manufacturers that import items to assemble new goods."The tariffs cost firms $900 per worker per year, so you can think of it as an easy way to put $900 per worker back in the companies that are employing those workers," she says. Lovely was interviewed for the Marketplace segment "Despite reports, trade adviser denies plans to suspend tariffs."

Lovely comments on future of US-China trade deal in Washington Post

"Ultimately the question is, does the president have the political incentive to push this before the election?" says Professor Mary Lovely. "And I think the answer to that is pretty clearly no." Lovely was interviewed for the Washington Post article "Businesses were already hurting under Trump’s trade war. Then came coronavirus."

Lovely quoted in CSM article on impact of COVID-19 on globalization

"To the extent that this crisis appears to be heading toward a global phenomenon, it is a nudge toward a different, more diversified globalization rather than less globalization," says Professor Mary Lovely. She was interviewed for the Christian Science Monitor article "Why COVID-19 is likely to change globalization, not reverse it."

Lovely speaks with Axios about US agriculture sector, tariffs

"Most observers believed that the ag sector was hurt and would need an extraordinary year to make up for that. I don’t think they’re going to see it," says Mary Lovely. "Couple that with the fact that the U.S. could very possibly be heading towards a recession, and it’s going to be a tough year for them." Lovely was interviewed for the Axios article "The trade war could weaken U.S. coronavirus response."

Engelhardt wins grant through the U.S. Social Security Administration

Gary V. Engelhardt, a professor of economics and faculty associate with the Aging Studies Institute in the Maxwell School, was awarded a grant from the U.S. Social Security Administration through the Retirement and Disability Research Consortium. The $100,000 grant will support Engelhardt’s research into the role of housing equity as an asset for retirement planning among older Americans.

Dutkowsky speaks to Spectrum News about the stock market drop

Donald Dutkowsky was interviewed for the Spectrum News article "Stock Market Professor: "Stay The Course" After 3% Point Decrease." He advises not to think in terms of points but in percentage. "'The Dow's off 1,000 points, oh my goodness, that's horrible.' But the Dow's [near] 30,000 points, so that's a 3% drop," says Dutkowsky, adding that a 3% drop is not good, but not awful.

Lovely speaks to Wash Times about FBI, Chinese-American scientists

Mary Lovely says the rules governing scientists’ ties to Chinese research institutions are murky and sometimes lead prosecutors to charge people who have made innocent mistakes. "There should be clear guidance on what is allowable, what is not allowable...," she says. Lovely was interviewed for the Washington Times article "House Democrats say FBI too tough on friendly Chinese visitors."

Lovely discusses US annual trade deficit with Bloomberg, Politico

"Everything the president has done has shown that the advice of more traditional economists has actually been very solid — so we don’t see the trade deficit closing as a result," says Professor Mary Lovely. She was interviewed by Bloomberg and Politico about the U.S. trade deficit.

Yinger research cited in NYT article on school funding disparities

A research article written by John Yinger was cited in the New York Times article "States Are Burying Damning Data About School Funding." In his study, Yinger showed that schools with a high percentage of students from low-income households need more money than other schools to address those students’ greater challenges.

Lovely weighs in on new USMCA in Associated Press, Xinhuanet

On Wednesday, President Trump signed into law the U.S.-Mexico-Canada Agreement, a rewrite of the rules of trade with Canada and Mexico. According to Professor Mary Lovely, the impact will be modest. "It’s a blip," Lovely told the Associated Press. "The main thing is what it isn’t: It isn’t a continuation of uncertainty, and it isn’t a major disruption″ to business.

Lovely discusses US-China trade deal with Associated Press, NPR

"Just thinking in the short term and locally, the big change of course is that we've had a cease-fire. We're in a truce in the ongoing trade conflict between the US and China," Mary Lovely told NPR. "And that's good news. It's good news for our economy. It's good news for the global economy." Lovely also spoke with the Associated Press about the US-China trade deal.

Lovely speaks to Bloomberg, WSJ, Wash Post about US-China trade deal

The new system "is a gigantic finger in the eye of WTO," Professor Mary Lovely told the Wall Street Journal. "The decider will be the trade representative in consultation with the president." Lovely spoke with Bloomberg, the Wall Street Journal, and the Washington Post about the US-China trade deal. She also spoke to Xinhua about the United States-Mexico-Canada Agreement (USMCA).

Lovely discusses Phase 1 US-China trade deal with AFP, NPR, Reuters

Tariffs that will remain on goods from China after the Phase 1 trade deal are a big problem for the U.S. economy going forward, Professor Mary Lovely told Reuters. "You’re taxing things that our businesses need to be competitive, and yet you’re saying the point of this is to support manufacturing." She spoke with multiple international news outlets about the US-China trade deal.

Dutkowsky, Tobias discuss 2020 election, economy in Seeking Alpha

Don Dutkowsky and Áron Tóbiás were interviewed for the Seeking Alpha blog post "Here’s What The 2020 Election Could Mean For The Economy." "The most important threat, in my view, of another Trump presidency is the unpredictability and uncertainty," says Tóbiás. "You can never know what happens next: what appears on Twitter, or what kind of trade policy is made."

Lovely comments on US-China trade pact in The Guardian

Professor Mary Lovely was interviewed for the Guardian article "Trump vaunts his China trade pact – but some say it’s too little, too late." "There is very little in the agreement that could not be achieved by partnering with allies that were also concerned about the same issues," says Lovely.

Lovely comments on Phase One China trade deal in AP, Washington Post

"It’s a very toxic brew and I don’t know that we’re really going to see much progress on it," says Professor Mary Lovely. She spoke to the Associated Press and the Washington Post about the first phase of a U.S.-China trade agreement.

Lovely quoted in Quartz article on USMCA

"I don’t know what the lesson here is in getting a free trade agreement passed, because president Trump did not," says Professor Mary Lovely. "One way to get a trade agreement passed is just to throw out free trade." Lovely was interviewed for the Quartz article "How the USMCA sets the stage for the future of trade."

Lovely discusses the US-China trade deal with AP, BBC, CNN, PBS, WSJ

"A ceasefire now raises the likelihood that the two sides can find lasting solutions to the problems identified in the US investigation of China's unfair practices related to technology transfer, intellectual property and innovation," writes Professor Mary Lovely. Her article "A trade war ceasefire is just what America's economy needs," was published in CNN Business Perspectives. Lovely also spoke with many major news outlets regarding the trade deal.

Lovely speaks with NY Times, PBS, Wash Post about USMCA trade deal

"It’s not at all clear that there is going to be a positive effect on jobs in the auto industry," Professor Mary Lovely told the New York Times. "This is the hard lesson of economics, which is basically there’s a lot of factors here." Lovely spoke with several media outlets about the United States-Mexico-Canada Agreement (USMCA).

Rothenberg examines impact of BRT on traffic congestion in VoxDev

Many cities around the world suffering from rising traffic congestion are turning to low-cost Bus Rapid Transit (BRT) systems but evidence from a recent study co-authored by Alexander Rothenberg suggests that BRT systems can actually worsen traffic congestion. The paper, "‘Second-best’ Bus Rapid Transit and traffic congestion in developing countries: Lessons from TransJakarta," was published by VoxDev.

Mitra discusses trade liberalization, poverty reduction in India in ET

"View: Despite doubts, there’s enough proof to conclude that foreign trade is good for poor," written by Professor Devashish Mitra, was published in the Economic Times. Mitra explains why trade liberalization in India did not lead to a slower poverty reduction rate.

Yinger cited in Newsday article on real estate steering

Federal, state and local laws bar real estate agents from steering home buyers (guiding purchasers to communities based on race or ethnicity) yet national studies show the practice has grown increasingly common over the past three decades. John Yinger's research on this topic was cited in the Newsday article "Why Agents Steer."

Lovely discusses the trade war, tariffs with Marketplace, PolitiFact

U.S. imports of "intermediate goods" from China, such as motors, pumps, and semiconductors, have seen price increases, harming U.S. producers. "When the price of these inputs go up, U.S. businesses find it harder to compete against non-U.S. competitors, even in the U.S. market," Mary Lovely told PolitiFact. She was also interviewed by Marketplace on the impact of the trade war on U.S. jobs.

Mitra discusses India's decision to opt out of RCEP in Economic Times

In his article published in the Economic Times, Devashish Mitra, Gerald B. and Daphna Cramer Professor of Global Affairs, explains why India needs to re-think it's decision to opt out of the Regional Comprehensive Economic Partnership (RCEP).

Lovely discusses US-China tariff rollback in Associated Press, SCMP

"We can be cautiously optimistic here,” Professor Mary Lovely told the Associated Press. "The signals that are coming out are moving in the right direction for a deal." Lovely discussed the potential for tariff rollbacks with the Associated Press, Foreign Policy, and the South China Morning Post.

Lovely talks to Marketplace about weaknesses in US manufacturing

Mary Lovely says the increasing weakness of both US manufacturing and agriculture is hurting some regions more than others. "We’re seeing the slowdown hit the Midwest, the farm belt," says Lovely. "And a big slowdown in business investment, capital equipment purchases, is hitting states like Pennsylvania and Illinois." Lovely was interviewed for the Marketplace piece "Trade deficit narrows as trade tensions continue to bite."

Rothenberg paper on intergroup contact, integration published in AER

"Unity in Diversity? How Intergroup Contact Can Foster Nation Building," co-authored by Alexander Rothenberg was published in American Economic Review. The authors use a population resettlement program in Indonesia to identify long-run effects of intergroup contact on national integration.

Lovely speaks with BI, NPR, Wash Post about the US-China trade war

"The key issue is how long the trade disruptions between U.S. and China last," Mary Lovely told the Washington Post. "The longer they go on, the more the old networks atrophy and new networks get solidified." Lovely spoke with Business Insider, NPR, and the Washington Post about the latest in the US-China trade war.

Mitra discusses the state of India's economy in Economic Times

"The economy’s temporary problems can easily become more permanent unless both long-term and short-term measures are taken simultaneously," writes Devashish Mitra. "The silver lining here is that crises bring about reforms..." Mitra's article, "India's economic crisis can bring about much needed reforms," was published in the Economic Times.

Lovely discusses impact of Hong Kong protests on trade with Fox News

Mary Lovely says that the protests in Hong Kong haven't affected the US-China trade talks as these are longstanding negotiations. "I think it does change the atmosphere for American businesses and the American public, as well as Chinese businesses and the Chinese public," she says. Lovely was interviewed by Fox Business News and the Globe and Mail.

Lovely interviewed by CBS News on the US-China trade deal

"Even with the enormous emphasis President Trump places on restarting U.S. agricultural exports to China, details about the pace of expected Chinese purchases of $40 billion to $50 billion of American farm products are murky," Mary Lovely told CBS News. "Nothing is on paper yet." She spoke with CBS News and Knowledge@Wharton about the latest in the US-China trade dispute.

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