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In fact, the shift in trade policy that Lula represents can easily be exaggerated.
The step also reflected the shift in trade politics since Democrats took control of Congress.
Some of the shift in trade toward China comes from heightened tensions between India and Pakistan, which has hampered trade between the two countries.
The eurozone might be flatlining – so where is the shift in trade policy to enable us to better access the fast growing global economy beyond?
Būyid attempts to maintain the cultural brilliance of the court at Baghdad were limited by a decline in revenue occasioned partly by a shift in trade routes to Fāṭimid Egypt, and partly by long-term neglect of Iraq's irrigation works.
El Ninos, which emerge every four to seven years on average and run from October through to January, are triggered by a shift in trade winds across the Pacific around the equator.
Similar(43)
The blame lies not with commodity price falls, but shifts in trade policy.
Shifts in trade routes undermined Kiev's economic importance, while warfare with the Polovtsians in the steppe sapped its wealth and energies.
But now, as Martin Reeves of BCG points out, "In many cases companies are seeing bigger impacts from political and macroeconomic factors than from competitive considerations". Those factors, he says, include Brexit-driven exchange rate movements, share price fluctuations in response to policy pronouncements, and the cost of changing investment plans in light of anticipated shifts in trade policy.
Think about it: if secular shifts in trade patterns are responsible, in a proximate sense, for part of Spain's move into trade deficit and Germany's move into surplus since 1999, what this says is that even if you get relative wages back to 1999 levels, Spain will still be in deficit and Germany in surplus – so you need to go beyond that point.
A gradual but steady process of liberalization would have required consensus among different interested groups and a mature institutional framework capable of limiting the incumbent government's ability to discretionally introduce major shifts in trade policy and benefit some groups at the expenses of others.
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