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              Groningen most “cultural” province in the Netherlands

              Rembrandt’s masterpiece to be exhibited in Groningen for the first time

              Prime Minister Rutte, economics minister Wiebes visit province of Groningen

              ‘Gronings Gas 2.0’ exhibition launches at earthquake epicenter

              Groningen: protesters demand safety for residents and an end to gas drilling in the Province

              Shell CEO: Groningen gas field should be closed this year

              ‘There’s a reason why I stayed to work in the Netherlands. Apply and give it a shot’

              ‘There’s a reason why I stayed to work in the Netherlands. Apply and give it a shot’

              Eemshaven’s docking problems force HNL to move to Emden

              Groningen resident wins 5.1 million euros in lottery

              Here’s when people will get the next energy bill help in 2023

              University of Groningen students stage sit in for social safety (UPDATED)

              University of Groningen students stage sit in for social safety (UPDATED)

              Construction of badger tunnel underway in Molkwerum

              Pride and passion: football in the northern Netherlands

              Police detain underage fan after FC Groningen player is punched in Eredivisie game

              Trending Tags

              • Lifestyle
                • All
                • Food & Drinks
                • Nightlife
                • Shopping
                • What's happening
                Groningen welcomes Qatar 2022 with cheer and criticism

                Groningen welcomes Qatar 2022 with cheer and criticism

                The anti Zwarte Piet protest in Emmen

                Emmen: Four people still detained after anti Zwarte Piet protest

                The inside of Forum Groningen

                “Let’s Gro” opens a discussion on the future of Groningen

                What about food in student city Groningen?

                Where to get knockout fries in the northern provinces

                Ukraine Food opens in Groningen

                Ukraine Food opens in Groningen

                Buses will no longer travel through the Grote Markt in Groningen

                Buses will no longer travel through the Grote Markt in Groningen

                “Tall Ships” Race coming to Friesland this week

                “Tall Ships” Race coming to Friesland this week

                Noorderzon festival returning to Groningen in August

                Noorderzon festival returning to Groningen in August

                Plans for extensive Kardinge residential expansion revealed

                Plans for extensive Kardinge residential expansion revealed

                Trending Tags

                • Culture
                  • All
                  • Dutch history
                  • Typical Dutch
                  Luna: Leeuwarden light festival and young artists’ exhibition winding down this weekend

                  Luna: Leeuwarden light festival and young artists’ exhibition winding down this weekend

                  Groningen cultural center Usva

                  Groningen makes international headlines for all the wrong reasons

                  International Welcome Centre North

                  International Welcome Centre North

                  A woman.

                  Groninger photographer Courtney Bonneau launches new exhibition in Lebanon

                  Eurosonic Noorderslag

                  Eurosonic Noorderslag

                  Ending the Year with a Bang!

                  Ending the Year with a Bang!

                  It’s beginning to look a lot like Christmas

                  It’s beginning to look a lot like Christmas

                  A devastating defeat; an unexpected victory

                  A devastating defeat; an unexpected victory

                  Sinterklaas is Here!

                  Sinterklaas is Here!

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                    ‘There’s a reason why I stayed to work in the Netherlands. Apply and give it a shot’

                    International Welcome Centre North

                    International Welcome Centre North

                    The cold of the North is compensated by the warmth of its people – Ocean Grazer engineer

                    The cold of the North is compensated by the warmth of its people – Ocean Grazer engineer

                    Watch: A workplace that sells itself – CTO on working at Ocean Grazer

                    Watch: A workplace that sells itself – CTO on working at Ocean Grazer

                    It’s beginning to look a lot like Christmas

                    It’s beginning to look a lot like Christmas

                    People protesting on a street in Groningen.

                    Former Sugar Homes residents protest for return of withheld deposit

                    I’m not Black; I’m African

                    I’m not Black; I’m African

                    A letter from the Editor – Internationals from 120 countries: Welcome to Groningen, Leeuwarden, Assen and Emmen!

                    MPs call for cap on foreign student numbers in order to ensure ‘accessibility’

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                      Watch: A workplace that sells itself – CTO on working at Ocean Grazer

                      Watch: A workplace that sells itself – CTO on working at Ocean Grazer

                      Watch: We’re hiring internationals to help us with foreign clients – ACS Buildings CEO

                      Watch: We’re hiring internationals to help us with foreign clients – ACS Buildings CEO

                      Small but mighty: TECNED is looking for internationals to help it grow

                      Small but mighty: TECNED is looking for internationals to help it grow

                      Talk on International Growth by local founders to take place on the 21st of June

                      Talk on International Growth by local founders to take place on the 21st of June

                      Groningen to host its first sustainable business day

                      Groningen to host its first sustainable business day

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                      Companies in Dutch energy sector seek next cohort of young leaders

                      Annual Beta Business Days event a success

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                      Home Econ 050

                      Econ 050: Trade wars!

                      Econ 050 by Econ 050
                      November 16, 2018
                      in Econ 050
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                      Welcome to Econ 050: Economics and business that matters to the Netherlands and the world. In each episode, Northern Times editor Traci White interviews a new expert about everything from trade wars to the psychology in your shopping cart. This podcast is a co-production between The Northern Times and the Faculty of Economics and Business of the University of Groningen.

                      Trade wars: Economist Tristan Kohl on whether anyone can win in the struggle between Trump and China

                      Who really wins in a trade war? Like with so much in era of Donald Trump’s presidency, things have already changed since this interview with RUG assistant professor or trade economics Tristan Kohl was recorded in early October. The ever-changing nature of Trump’s pronouncements and policies is exactly why Kohl and his colleagues wanted to get this research out there themselves as soon as possible, but a longer publication –  “Sticks and Stones: Sanction Threats, Impositions, and Their Effect on International Trade” – will be coming out in early 2019. With that in mind, the discussion is more broadly about what it actually means to be in a trade war and just fair or unfair current trade deals actually are.

                      You can listen to the full interview above, and here are some highlights from the episode:

                      On what being in a trade war means:

                      Tristan Kohl: A trade war really is about two countries or multiple countries deciding that they don’t want to have that much trade with each other anymore and they impose all sorts of rules and procedures to try and prevent trade from happening. So the most common thing that they do is to spike their tariffs on goods in which they are exporters to a market. So China wants to export certain products, say steel, cars, technology, to the states. Trump doesn’t want that to happen, so he threatens to impose high tariffs on those goods.

                      On why raising tariffs is actually self-defeating:

                      Tristan Kohl: An iPhone is assembled in China, but all of the components in an iPhone come from places like Germany, South Korea, Taiwan, and the U.S. So in fact, what you’re now threatening to do is make goods that are assembled in China more expensive, but those goods contain inputs from your own economy. It simply means that you are shooting yourself in the foot twice, not just by making your final importable goods more expensive – people will want to buy fewer iPhone because they are more expensive because of this tariff – but you’re also hurting your own workforce because they’re used to producing certain computer processing chips or other technology that’s used in this good but there’s less demand for that good now. So they lose their jobs.

                      On who has the advantage between America and China in a trade war:

                      Tristan Kohl: The U.S.’s largest trade deficit is with China and most of its debt is also owned by China. So there’s a lot more political and financial stakes involved in this game. And of course China knows that it has a very strong market position in the U.S. economy and there are no apparent alternatives for Chinese products on the U.S. market. China just really has a very strong price competitor and it’s hard to think of an alternative for Chinese products on the U.S. market without substantially hitting U.S. consumers. And I think that any sensible administration knows this that they can try and wage this tariff war on Twitter. But at the end of the day, you know, if this war really gets out of hand, at the end of the day, the consumers are going to lose out on this.

                      On Trump’s claims that existing trade deals are unfair:

                      Tristan Kohl: What tends to happen is that people forget how many jobs are actually being created to sell goods to these countries, even though we are importing more manufactured goods from them. We’re not looking at what what’s the amount of services we may be exporting to them. Of course there is competition from foreign goods on our own market, and that’s going to cost us jobs, but at the same time, it forces us to specialize in other things in which we have a comparative advantage and that actually can create more wins for us than then the losses.

                      On the possibility of a trade war between America and Europe:

                      Traci White: There was also talk about tariffs being enforced between American and European trade as well and targeting specific products like peanut butter and Harley Davidson motorcycles and very symbolically American sorts of things that are also from the districts of quite a few prominent politicians in the U.S., like Mitch Connell and Paul Ryan. So could you comment on what is next for a potential trade war between America and Europe?

                      Tristan Kohl: It’s not new for countries to try and pick goods from states or provinces or areas where their voters are located. That’s a very old trick. So I wasn’t surprised when I saw that. But what is important in the negotiations now is that whenever there’s an election or someone new comes to power and has certain qualms about certain aspects of trade policy, you sit down at the table and you see how you can fix it. You don’t just stand up and threaten to walk away from everything and tear things up. Because if you do so – look at NAFTA, look at Brexit – those things can go horribly wrong.

                      Tags: ChinaNAFTAtariffstradeTristan KohlTrump
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