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If a country successfully dictates trade terms and extracts a great deal of wealth from its partners, its GDP would grow very quickly while that of its partners would shrink or grow much more slowly.
The White House dictates trade agreements, drug approvals, the direction of national education policy, the food pyramid, and where to deploy American troops.
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Well, Rhode Island runs a trade deficit with the other 49 states, but that does not allow the good people of Providence to dictate trade terms to Washington DC.
"Trips was a matter of powerful companies with intellectual property concerns essentially dictating trade policy," said Keith E. Maskus, a trade expert at the University of Colorado.
The era when it could dictate trade terms through the World Trade Organisation (WTO) and its predecessors certainly belongs to history.
My research on international trade negotiations has shown that the U.S. no longer has the leverage to dictate trade terms to China.
World equity markets were mixed yesterday as company news dictated trading direction in many nations, while oil stocks gained on renewed unrest in Africa.
[C6.] Oil Stocks Gain but Most World Markets Are Mixed World equity markets were mixed yesterday as company news dictated trading direction in many nations, while oil stocks gained on renewed unrest in Africa.
But Japan and several other Asian nations are at the table, and the administration hopes that South Korea will join — a critical mass that could dictate trading terms for the region and the world.
When we opt out of free trade agreements like the TPP, we are simply handing over control to China, which will now be able to dictate international trade on its own terms.
Pro-Brexit Conservatives have described the plan as unworkable and say it will allow Brussels to dictate UK trade policy.
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