Trade Wars are Class Wars

Trade Wars are Class Wars

Author: Matthew C. Klein

Publisher: Yale University Press

Published: 2020-01-01

Total Pages: 292

ISBN-13: 0300244177

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"This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.


Book Synopsis Trade Wars are Class Wars by : Matthew C. Klein

Download or read book Trade Wars are Class Wars written by Matthew C. Klein and published by Yale University Press. This book was released on 2020-01-01 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.

Trade Is War

Trade Is War

Author: Yash Tandon

Publisher: OR Books

Published: 2015-06-04

Total Pages: 224

ISBN-13: 1939293820

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"This impressive study focuses on Africa, which has suffered hideous crimes. Yash Tandon’s case is a powerful one, and can be extended: The global class war that is institutionalized in the misnamed 'free trade agreements' is also a war against the traditional victims of class war at home. The resistance, in Africa and elsewhere, which Tandon describes here, is a source of hope for the future." —Noam Chomsky "A necessary and timely contribution which goes to the roots of the deep crises we face as humanity." —Vandana Shiva "... understand that 'trade is war' as Yash Tandon beautifully explains in this important book." —Samir Amin Globalization has reduced many aspects of modern life to little more than commodities controlled by multinational corporations. Everything, from land and water to health and human rights, is today intimately linked to the issue of free trade. Conventional wisdom presents this development as benign, the sole path to progress. Yash Tandon, drawing on decades of on-the-ground experience as a high level negotiator in bodies such as the World Trade Organization (WTO), here challenges this prevailing orthodoxy. He insists that, for the vast majority of people, and especially those in the poorer regions of the world, free trade not only hinders development – it visits relentless waves of violence and impoverishment on their lives. Trade Is War shows how the WTO and the Economic Partnership Agreements like the EU-Africa EPA and the Transatlantic Trade and Investment Partnership (TTIP) are camouflaged in a rhetoric that hides their primary function as the servants of global business. Their actions are inflaming a crisis that extends beyond the realm of the economic, creating hot wars for markets and resources, fought between proxies in Africa, Asia, Latin America, the Middle East and now even in Europe. In these pages Tandon suggests an alternative vision to this devastation, one based on self-sustaining, non-violent communities engaging in trade based on the real value of goods and services and the introduction of alternative currencies.


Book Synopsis Trade Is War by : Yash Tandon

Download or read book Trade Is War written by Yash Tandon and published by OR Books. This book was released on 2015-06-04 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This impressive study focuses on Africa, which has suffered hideous crimes. Yash Tandon’s case is a powerful one, and can be extended: The global class war that is institutionalized in the misnamed 'free trade agreements' is also a war against the traditional victims of class war at home. The resistance, in Africa and elsewhere, which Tandon describes here, is a source of hope for the future." —Noam Chomsky "A necessary and timely contribution which goes to the roots of the deep crises we face as humanity." —Vandana Shiva "... understand that 'trade is war' as Yash Tandon beautifully explains in this important book." —Samir Amin Globalization has reduced many aspects of modern life to little more than commodities controlled by multinational corporations. Everything, from land and water to health and human rights, is today intimately linked to the issue of free trade. Conventional wisdom presents this development as benign, the sole path to progress. Yash Tandon, drawing on decades of on-the-ground experience as a high level negotiator in bodies such as the World Trade Organization (WTO), here challenges this prevailing orthodoxy. He insists that, for the vast majority of people, and especially those in the poorer regions of the world, free trade not only hinders development – it visits relentless waves of violence and impoverishment on their lives. Trade Is War shows how the WTO and the Economic Partnership Agreements like the EU-Africa EPA and the Transatlantic Trade and Investment Partnership (TTIP) are camouflaged in a rhetoric that hides their primary function as the servants of global business. Their actions are inflaming a crisis that extends beyond the realm of the economic, creating hot wars for markets and resources, fought between proxies in Africa, Asia, Latin America, the Middle East and now even in Europe. In these pages Tandon suggests an alternative vision to this devastation, one based on self-sustaining, non-violent communities engaging in trade based on the real value of goods and services and the introduction of alternative currencies.

Avoiding the Fall

Avoiding the Fall

Author: Michael Pettis

Publisher: Brookings Institution Press

Published: 2013-09-24

Total Pages: 172

ISBN-13: 0870034081

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The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.


Book Synopsis Avoiding the Fall by : Michael Pettis

Download or read book Avoiding the Fall written by Michael Pettis and published by Brookings Institution Press. This book was released on 2013-09-24 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.

Trade Wars Against America

Trade Wars Against America

Author: William J. Gill

Publisher: Greenwood

Published: 1990

Total Pages: 348

ISBN-13: 9780275933166

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Unique in its breadth and scope, this volume provides a comprehensive history of U.S. trade and monetary policy from colonial times to the present. Gill examines the origins of the traditional protectionist policies that prevailed from the beginning of the Republic until 1913 and explores in detail America's experience with trade in the years from the end of World War I to the present day. Case histories of the experience of several U.S. industries in attempting to get the government to implement trade laws are drawn from the author's extensive involvement as a trade consultant. Gill asserts that U.S. economic might was built upon sound money and the overt protection of its industrial and economic base and that when protectionist policies have been abandoned--as in the Wilson and Reagan years--our economic position in the world has suffered. He calls for an end to the free trade zeitgeist of the 1980s, arguing instead for a renewed commitment to rational protection. Trade Wars Against America is chronological in approach. It begins by examining the protectionist policies of the early Republic; the War of 1812 as the first trade war after the Republic's founding; Andrew Jackson's struggle with the banking community over the conduct of trade and monetary policy; and the rise of protectionism after the Civil War and its culmination in the McKinley presidency, an era of unparalleled prosperity. Gill goes on to discuss the assault on the protectionist system by Woodrow Wilson and Edward House; the creation of the Federal Reserve Bank; the Trade Act of 1934 and its role in the Depression; and the supranational movement that culmiated at Bretton Woods and resulted in the creation of the World Bank, the International Monetary Fund, and the GATT--the Geneva-based organization implementing the General Agreement on Tariff and Trade. Finally, Gill looks at the period since World War II, concluding that trade wars are being waged against the United States primarily with the subsidies foreign governments give their industries to increase exports. Privately owned U.S. firms, Gill asserts, cannot effectively compete against government-owned or subsidized industries abroad.


Book Synopsis Trade Wars Against America by : William J. Gill

Download or read book Trade Wars Against America written by William J. Gill and published by Greenwood. This book was released on 1990 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unique in its breadth and scope, this volume provides a comprehensive history of U.S. trade and monetary policy from colonial times to the present. Gill examines the origins of the traditional protectionist policies that prevailed from the beginning of the Republic until 1913 and explores in detail America's experience with trade in the years from the end of World War I to the present day. Case histories of the experience of several U.S. industries in attempting to get the government to implement trade laws are drawn from the author's extensive involvement as a trade consultant. Gill asserts that U.S. economic might was built upon sound money and the overt protection of its industrial and economic base and that when protectionist policies have been abandoned--as in the Wilson and Reagan years--our economic position in the world has suffered. He calls for an end to the free trade zeitgeist of the 1980s, arguing instead for a renewed commitment to rational protection. Trade Wars Against America is chronological in approach. It begins by examining the protectionist policies of the early Republic; the War of 1812 as the first trade war after the Republic's founding; Andrew Jackson's struggle with the banking community over the conduct of trade and monetary policy; and the rise of protectionism after the Civil War and its culmination in the McKinley presidency, an era of unparalleled prosperity. Gill goes on to discuss the assault on the protectionist system by Woodrow Wilson and Edward House; the creation of the Federal Reserve Bank; the Trade Act of 1934 and its role in the Depression; and the supranational movement that culmiated at Bretton Woods and resulted in the creation of the World Bank, the International Monetary Fund, and the GATT--the Geneva-based organization implementing the General Agreement on Tariff and Trade. Finally, Gill looks at the period since World War II, concluding that trade wars are being waged against the United States primarily with the subsidies foreign governments give their industries to increase exports. Privately owned U.S. firms, Gill asserts, cannot effectively compete against government-owned or subsidized industries abroad.

Capital Wars

Capital Wars

Author: Michael J. Howell

Publisher: Springer Nature

Published: 2020-03-24

Total Pages: 316

ISBN-13: 3030392880

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Economic cycles are driven by financial flows, namely quantities of savings and credits, and not by high street inflation or interest rates. Their sweeping destructive powers are expressed through Global Liquidity, a $130 trillion pool of footloose cash. Global Liquidity describes the gross flows of credit and international capital feeding through the world’s banking systems and wholesale money markets. The huge jump in the volume of international financial markets since the mid-1980s has been boosted by deregulation, innovation and easy money, with financial globalisation now surpassing the peaks of integration reached before the First World War. Global Liquidity drives these markets: it is often determinant, frequently disruptive and always fast-moving. Barely one fifth of Wall Street’s huge gains over recent decades have come from earnings: rising liquidity and investors’ appetite for riskier financial assets have propelled stock prices higher. Similar experiences are shared worldwide and even in emerging markets, such as India, flat earnings have not deterred waves of foreign money and domestic mutual funds from driving-up stock prices. Now with central banks actively pursuing quantitative easing policies, industrial corporations flush with cash and rising wealth levels among emerging market investors, the liquidity theory of investment has never been more important. International spill-overs of these rapacious cross-border flows sets off capital wars and exposes the unattractive face of liquidity called ‘risk.’ As the world grows bigger, it becomes ever more volatile. From the early 1960s onwards, the world economy and its financial markets have suffered from three broad types of shocks – labour costs, oil and commodities, and global liquidity. Financial markets spin on fragile axes and the absence of liquidity often provides a warning of upcoming troubles. Global Liquidity is a much-discussed, but narrowly-researched and vaguely-defined topic. This book deeply explores the subject by clearly defining and measuring liquidity worldwide and by showing its importance for investors. The roles of central banks, shadow banking, the rise of Repo and growth of wholesale money are discussed. Additionally, covering the latest developments in China’s increasingly dominant financial economy, this book will appeal to practitioners, policy-makers, economists and academics, as well as those with a general interest in how financial markets work.


Book Synopsis Capital Wars by : Michael J. Howell

Download or read book Capital Wars written by Michael J. Howell and published by Springer Nature. This book was released on 2020-03-24 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic cycles are driven by financial flows, namely quantities of savings and credits, and not by high street inflation or interest rates. Their sweeping destructive powers are expressed through Global Liquidity, a $130 trillion pool of footloose cash. Global Liquidity describes the gross flows of credit and international capital feeding through the world’s banking systems and wholesale money markets. The huge jump in the volume of international financial markets since the mid-1980s has been boosted by deregulation, innovation and easy money, with financial globalisation now surpassing the peaks of integration reached before the First World War. Global Liquidity drives these markets: it is often determinant, frequently disruptive and always fast-moving. Barely one fifth of Wall Street’s huge gains over recent decades have come from earnings: rising liquidity and investors’ appetite for riskier financial assets have propelled stock prices higher. Similar experiences are shared worldwide and even in emerging markets, such as India, flat earnings have not deterred waves of foreign money and domestic mutual funds from driving-up stock prices. Now with central banks actively pursuing quantitative easing policies, industrial corporations flush with cash and rising wealth levels among emerging market investors, the liquidity theory of investment has never been more important. International spill-overs of these rapacious cross-border flows sets off capital wars and exposes the unattractive face of liquidity called ‘risk.’ As the world grows bigger, it becomes ever more volatile. From the early 1960s onwards, the world economy and its financial markets have suffered from three broad types of shocks – labour costs, oil and commodities, and global liquidity. Financial markets spin on fragile axes and the absence of liquidity often provides a warning of upcoming troubles. Global Liquidity is a much-discussed, but narrowly-researched and vaguely-defined topic. This book deeply explores the subject by clearly defining and measuring liquidity worldwide and by showing its importance for investors. The roles of central banks, shadow banking, the rise of Repo and growth of wholesale money are discussed. Additionally, covering the latest developments in China’s increasingly dominant financial economy, this book will appeal to practitioners, policy-makers, economists and academics, as well as those with a general interest in how financial markets work.

Money, Capital Mobility, and Trade

Money, Capital Mobility, and Trade

Author: Guillermo A. Calvo

Publisher: MIT Press

Published: 2004

Total Pages: 572

ISBN-13: 9780262532600

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Essays by leading economists and scholars reflecting on Mundell's broad influence on modern open-economy macroeconomics.


Book Synopsis Money, Capital Mobility, and Trade by : Guillermo A. Calvo

Download or read book Money, Capital Mobility, and Trade written by Guillermo A. Calvo and published by MIT Press. This book was released on 2004 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays by leading economists and scholars reflecting on Mundell's broad influence on modern open-economy macroeconomics.

Imperial Twilight

Imperial Twilight

Author: Stephen R. Platt

Publisher: Vintage

Published: 2018-05-15

Total Pages: 592

ISBN-13: 0307961745

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As China reclaims its position as a world power, Imperial Twilight looks back to tell the story of the country’s last age of ascendance and how it came to an end in the nineteenth-century Opium War. As one of the most potent turning points in the country’s modern history, the Opium War has since come to stand for everything that today’s China seeks to put behind it. In this dramatic, epic story, award-winning historian Stephen Platt sheds new light on the early attempts by Western traders and missionaries to “open” China even as China’s imperial rulers were struggling to manage their country’s decline and Confucian scholars grappled with how to use foreign trade to China’s advantage. The book paints an enduring portrait of an immensely profitable—and mostly peaceful—meeting of civilizations that was destined to be shattered by one of the most shockingly unjust wars in the annals of imperial history. Brimming with a fascinating cast of British, Chinese, and American characters, this riveting narrative of relations between China and the West has important implications for today’s uncertain and ever-changing political climate.


Book Synopsis Imperial Twilight by : Stephen R. Platt

Download or read book Imperial Twilight written by Stephen R. Platt and published by Vintage. This book was released on 2018-05-15 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: As China reclaims its position as a world power, Imperial Twilight looks back to tell the story of the country’s last age of ascendance and how it came to an end in the nineteenth-century Opium War. As one of the most potent turning points in the country’s modern history, the Opium War has since come to stand for everything that today’s China seeks to put behind it. In this dramatic, epic story, award-winning historian Stephen Platt sheds new light on the early attempts by Western traders and missionaries to “open” China even as China’s imperial rulers were struggling to manage their country’s decline and Confucian scholars grappled with how to use foreign trade to China’s advantage. The book paints an enduring portrait of an immensely profitable—and mostly peaceful—meeting of civilizations that was destined to be shattered by one of the most shockingly unjust wars in the annals of imperial history. Brimming with a fascinating cast of British, Chinese, and American characters, this riveting narrative of relations between China and the West has important implications for today’s uncertain and ever-changing political climate.

The New Class War

The New Class War

Author: Michael Lind

Publisher: Atlantic Books

Published: 2020-02-20

Total Pages: 201

ISBN-13: 1786499568

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An Evening Standard's Book of the Year 'A tour de force.' David Goodhart All over the West, party systems have shattered and governments have been thrown into turmoil. The embattled establishment claims that these populist insurgencies seek to overthrow liberal democracy. The truth is no less alarming but is more complex: Western democracies are being torn apart by a new class war. In this controversial and groundbreaking analysis, Michael Lind, one of America's leading thinkers, debunks the idea that the insurgencies are primarily the result of bigotry and reveals the real battle lines. He traces how the breakdown of class compromises has left large populations in Western democracies politically adrift. We live in a globalized world that benefits elites in high income 'hubs' while suppressing the economic and social interests of those in more traditional lower-wage 'heartlands'. A bold framework for understanding the world, The New Class War argues that only a fresh class settlement can avert a never-ending cycle of clashes between oligarchs and populists - and save democracy.


Book Synopsis The New Class War by : Michael Lind

Download or read book The New Class War written by Michael Lind and published by Atlantic Books. This book was released on 2020-02-20 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Evening Standard's Book of the Year 'A tour de force.' David Goodhart All over the West, party systems have shattered and governments have been thrown into turmoil. The embattled establishment claims that these populist insurgencies seek to overthrow liberal democracy. The truth is no less alarming but is more complex: Western democracies are being torn apart by a new class war. In this controversial and groundbreaking analysis, Michael Lind, one of America's leading thinkers, debunks the idea that the insurgencies are primarily the result of bigotry and reveals the real battle lines. He traces how the breakdown of class compromises has left large populations in Western democracies politically adrift. We live in a globalized world that benefits elites in high income 'hubs' while suppressing the economic and social interests of those in more traditional lower-wage 'heartlands'. A bold framework for understanding the world, The New Class War argues that only a fresh class settlement can avert a never-ending cycle of clashes between oligarchs and populists - and save democracy.

War Is a Force that Gives Us Meaning

War Is a Force that Gives Us Meaning

Author: Chris Hedges

Publisher: PublicAffairs

Published: 2014-04-08

Total Pages: 224

ISBN-13: 1610395107

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As a veteran war correspondent, Chris Hedges has survived ambushes in Central America, imprisonment in Sudan, and a beating by Saudi military police. He has seen children murdered for sport in Gaza and petty thugs elevated into war heroes in the Balkans. Hedges, who is also a former divinity student, has seen war at its worst and knows too well that to those who pass through it, war can be exhilarating and even addictive: “It gives us purpose, meaning, a reason for living.” Drawing on his own experience and on the literature of combat from Homer to Michael Herr, Hedges shows how war seduces not just those on the front lines but entire societies—corrupting politics, destroying culture, and perverting basic human desires. Mixing hard-nosed realism with profound moral and philosophical insight, War Is a Force that Gives Us Meaning is a work of terrible power and redemptive clarity whose truths have never been more necessary.


Book Synopsis War Is a Force that Gives Us Meaning by : Chris Hedges

Download or read book War Is a Force that Gives Us Meaning written by Chris Hedges and published by PublicAffairs. This book was released on 2014-04-08 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a veteran war correspondent, Chris Hedges has survived ambushes in Central America, imprisonment in Sudan, and a beating by Saudi military police. He has seen children murdered for sport in Gaza and petty thugs elevated into war heroes in the Balkans. Hedges, who is also a former divinity student, has seen war at its worst and knows too well that to those who pass through it, war can be exhilarating and even addictive: “It gives us purpose, meaning, a reason for living.” Drawing on his own experience and on the literature of combat from Homer to Michael Herr, Hedges shows how war seduces not just those on the front lines but entire societies—corrupting politics, destroying culture, and perverting basic human desires. Mixing hard-nosed realism with profound moral and philosophical insight, War Is a Force that Gives Us Meaning is a work of terrible power and redemptive clarity whose truths have never been more necessary.

Trade War

Trade War

Author: Lori Ann LaRocco

Publisher:

Published: 2019-11-13

Total Pages: 208

ISBN-13: 9780997887150

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The multi-front trade war, which started with solar panels and washing machines, quickly expanded to additional battles: the 232 action on Aluminum and Steel imports, Intellectual Property, Autos, and Immigration. As a result, retaliatory tariffs were imposed and the flow of global trade the world once knew was changed. Headlines reporting the China tariffs "on hold," "truces announced" as well as threats of additional tariffs being imposed, continue to feed the uncertainty which would send the markets to historic highs and dramatic selloffs.So how can one get a sense of the true status of trade and the good faith being pledged by countries like China?Through the trade flows!With ninety percent of the world's economy moved by maritime transport, the ocean highway is the best way for anyone to gauge the status of trade talks as well as monitor the flow of trade. Remember, the two phrases your mom said when you were a teen: "talk is cheap" and "actions speak louder than words?" Well, when it comes to the world of shipping, that is the action being taken. Best-selling author Lori Ann LaRocco takes readers inside the world of global trade and shows us: Containers and tankers don't lie.Let's cut through the political rhetoric and see what the tea leaves of maritime are telling us, as well as the strategies some business leaders are employing to navigate the trade wars.


Book Synopsis Trade War by : Lori Ann LaRocco

Download or read book Trade War written by Lori Ann LaRocco and published by . This book was released on 2019-11-13 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The multi-front trade war, which started with solar panels and washing machines, quickly expanded to additional battles: the 232 action on Aluminum and Steel imports, Intellectual Property, Autos, and Immigration. As a result, retaliatory tariffs were imposed and the flow of global trade the world once knew was changed. Headlines reporting the China tariffs "on hold," "truces announced" as well as threats of additional tariffs being imposed, continue to feed the uncertainty which would send the markets to historic highs and dramatic selloffs.So how can one get a sense of the true status of trade and the good faith being pledged by countries like China?Through the trade flows!With ninety percent of the world's economy moved by maritime transport, the ocean highway is the best way for anyone to gauge the status of trade talks as well as monitor the flow of trade. Remember, the two phrases your mom said when you were a teen: "talk is cheap" and "actions speak louder than words?" Well, when it comes to the world of shipping, that is the action being taken. Best-selling author Lori Ann LaRocco takes readers inside the world of global trade and shows us: Containers and tankers don't lie.Let's cut through the political rhetoric and see what the tea leaves of maritime are telling us, as well as the strategies some business leaders are employing to navigate the trade wars.