Over the past few weeks, The Takeaway has been talking about innovation — what it is, and how we can spark more of it. We've talked about medicine, communication, education, and technology, among other topics. And we've talked with some of the biggest names and inventors out there. We wrap up our series with one of the most famous modern innovators in the world: James Dyson.
In a moment of bipartisanship, Congress passed three trade bills on Wednesday that had been embroiled in a political stalemate for years. The deals will promote foreign trade with South Korea, Colombia, and Panama. Consensus on the matter supports the idea that both parties think free trade will help the country's ailing economy. The action comes one day after the Senate defeated President Obama's Jobs Bill.
As politicians in Washington debate ways to revamp of sagging economy, a look at the life of a man who made tremendous contributions to the global economy back in the 1950s. Keith Tantlinger, inventor of the first viable shipping container (antiquated versions had been in use since the 19th century), died at age 92 last week. Tantlinger was an inventor who was hired by a man named Malcolm McLean to envision a more streamlined and standardized system for shipping goods overseas. His modern version of the shipping container, with twist locks, revolutionized global trade.
Seventeen years after President Bill Clinton signed the North American Free Trade Agreement, the U.S. and Mexico have finally reached an agreement allowing truckers from both countries unrestricted access to America and Mexico's highways. As soon as the first Mexican truck is allowed to enter the U.S., Mexico will drop tariffs on more than $2 billion of U.S. goods. Harley Helms, a long-haul trucker with Crete Carrier, joins the program with his reaction to the agreement.
Government officials from both countries met this week in Washington for the third U.S.-China Strategic and Economic Dialogue. China asked the U.S to lead an international economic recovery, but it may have been a hard sell considering that China's trade statistics, also released this week, show the country's exports hitting record levels, but its imports lagging. China's trade surplus from the first quarter of 2011 is at $11.43 billion — fueling concerns by the U.S. and other countries that China is using its weak currency to claim a large share of global job creation. The U.S. pushed China to appreciate its currency, and support the flow of American imports to China.
Operation Odyssey Dawn began Saturday with coalition missiles targeting Moammar Gadhafi's tanks and air defenses. Is the United States leading this effort? Meanwhile, relief and rescue efforts continue in Japan and time is of the essence as over 12,000 people are still missing and 8,000 have been confirmed dead so far.
The American workforce is still surprisingly segregated by gender, and this separation does not seem to benefit women. Two-thirds of working women are concentrated in only five percent of occupational categories. And in the few fields where more than 90 percent of workers are women – like childcare and food preparation – the pay tends to be low. Compare this low pay to male-dominated industries (there are a lot of them). Almost one in four job categories, such as construction work and trucking consist of workforces that are almost exclusively male. And those same jobs pay up to 30 percent more than traditionally female jobs like secretarial work.
It's Monday, which means it's time to take a look at the week ahead. Marcus Mabry, associate national editor for The New York Times, and Charles Herman, The Takeaway and WNYC's economics editor look at what almost 200 American officials headed to China for meetings today and tomorrow, can expect. On the docket will be topics ranging from trade to Iran and North Korea.
Chinese exports are cheap, but it's not all lower wages or efficient production. The cost of exports has been held down in recent years because the Chinese government has pegged the Yuan to the dropping dollar. But that may be changing. Murmurs within the halls of China's central bank, and central government, are pointing to an announcement in the coming days that the Yuan may move to a more flexible exchange rate against the dollar. This has big implications for trade, for President Obama, and for American consumers.
President Obama set off a trade dispute on Friday when he announced that the U.S. would impose a 35 percent tariff on imported Chinese tires. China retaliated by launching an investigation into whether the U.S. is dumping cheap chicken and automotive parts into China's marketplace. How is all this playing out in the U.S. business scene? We talk to Mike Cockrell, the chief financial officer of Sanderson Farms in Laurel, Mississippi; and Ross Kogel, the president of Tire Wholesalers International in Michigan.
Today, Beijing calls for talks with Washington over tire tariffs, after President Obama announced on Friday that he will tack on a 35 percent tariff to imports of Chinese tires for cars and light trucks. The U.S. tire industry has lost thousands of jobs due to a surge in tire exports from China. China hit back by saying that the U.S. was violating international trade laws and announced that it would restrict U.S. imports of chicken and auto parts. For the implications of all this, we talk to BBC Correspondent Chris Hogg, who is in Shanghai, with the latest.
The World Trade Organization has upheld a complaint by the U.S. that could help open the massive Chinese market to American movies, music, and books. Right now that market is subject to restrictions by China's government on what foreign media can be imported and distributed there. The BBC's correspondent in Shanghai, Chris Hogg, joins us with more of the story.