Europe and Eurasia
Ireland
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The Irish Shock to U.S. Manufacturing?Over the last fifteen years, U.S. production of pharmaceuticals has fallen while imports have soared. It is worth asking why.
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Ireland Really Shouldn't be Driving the Details of the Euro Area's GDP DataThe euro area GDP data—thanks to Ireland—is increasingly telling us more about the tax strategies of large U.S. firms and less about the actual composition of activity in the euro area. Large investments in acquisition of their own intellectual property by U.S. firms transforming themselves into tax residents of Ireland ahead of the end of the double Irish are impacting the economic data of the entire currency union.
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The Northern Ireland Peace ProcessThe Good Friday Agreement has dampened sectarian tensions and brought stability to Northern Ireland since 1998, but Brexit negotiations and local political paralysis are throwing the region’s hard-won gains into doubt.
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Tax Games: Big Pharma Versus Big TechAmerican pharmaceutical companies are skilled at using transfer pricing to shift the profit on their U.S. sales out of the United States. That is why the United States' trade deficit in pharmaceuticals is now bigger than the United States' trade surplus in aircraft.
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Brexit’s Finish Line Is Only the "End of the Beginning" for Britain and the European UnionThe United Kingdom faces numerous uncertainties as Brexit nears its nominal finish line.
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Brexit’s Finish Line Is Only the "End of the Beginning" for Britain and the European UnionThe United Kingdom faces numerous uncertainties as Brexit nears its nominal finish line.
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Brexit and the Future of Northern IrelandJonathan Stevenson, managing editor of Survival, senior fellow for U.S. defense at the International Institute for Strategic Studies, and author of the Foreign Affairs review “The Price of Peace in N…
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Ireland’s Statistical Cry for Help…Ireland's tax authorities have made the job of Ireland's statistical authorities almost impossible. The distortions in the Irish data are now so big that the impact the data for the entire euro area.
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$500 Billion in Dividends out of the Double Irish with a Dutch twist (with a bit of Help from Bermuda)Tax is often the biggest factor in the balance of payments. U.S. firms operating in Bermuda paid $229 billion in dividends back to their U.S. parents in 2018. That’s more than the United States earned from exporting to China before the trade war, and more than Boeing and GE generated by exporting aircraft and their engines even before the new 737 was grounded.
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Finding Ireland in the U.S. Balance of Payments Data ...Turns out a small and very green island dominates financial flows from "other euro area countries." Ireland's impact, of course, is a case study in the role that "trade-in-tax" plays in driving global trade and financial flows in today's global economy.
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When Tax Drives the Trade DataThe pharmaceutical industry's tax strategies appear to have a large impact on the trade data. There isn't any other obvious explanation for why the (goods) deficit in pharmaceuticals exceeds the surplus in civil aircraft..
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Brexit’s Stickiest Point: The Irish BackstopUK Prime Minister Theresa May has been unable to convince her own party to pass the Brexit deal she negotiated with the European Union because of its backstop provision. What is it, and why does it matter?
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Why the U.S. Tax Reform's International Provisions Need to Be ReformedI wanted to follow up on a few points that I didn’t have space to explore in my New York Times op-ed on the international provisions of Trump’s corporate tax reform. The first is that, well, there…
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Women This Week: A Ministerial MajorityWelcome to “Women Around the World: This Week,” a series that highlights noteworthy news related to women and U.S. foreign policy. This week’s post, covering June 2 to June 8, was compiled with support from Lucia Petty and Rebecca Turkington.
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Women This Week: Seized in SaudiWelcome to “Women Around the World: This Week,” a series that highlights noteworthy news related to women and U.S. foreign policy. This week’s post, covering May 19 to May 25, was compiled with support from Alexandra Bro, Rebecca Hughes and Rebecca Turkington.