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A month ago I wrote this 🧵 on why #import duties were not the answer to #Pakistan's Balance of Payments constraints. #ImportBans are certainly not the answer either. Rather, they exacerbate the underlying problem. Five thoughts. 🧵👇
1\ The usual: CAD results from a macro imbalance (Saving too low relative to investment, so foreign saving needed (borrowing) (CAD is the mirror image of borrowing from the rest of the world (financial account of BOP)). Fixing the CAD takes increasing saving (cool off demand).
2\ The #importban in #Pakistan reduces #imports (does it? see point 3\ below), but not the CAD, because it also reduces #exports.
profit.pakistantoday.com.pk/2022/05/01/imp…
profit.pakistantoday.com.pk/2022/05/01/imp…
#China #USA #Bejing #IMPORTBAN #Coronavirus
China bans the import of poultry products from another US meat processing plant. The US Poultry and Egg Export Council announced that OK Foods products in Arkansas are no longer allowed to be imported
China bans the import of poultry products from another US meat processing plant. The US Poultry and Egg Export Council announced that OK Foods products in Arkansas are no longer allowed to be imported
becausw workers are rept to habe coronavirus cases. The OK Foods plant is the second affected poultry plant in the United States after the Beijing government stopped imports from a Tyson Foods <TSN.N-> plant in June.
"We don't think the ban on either of these two is justified, especially given the fact that the virus cannot be transmitted in poultry meat," said Jim Sumner, President of the Council.
