
Daniel Griswold
In the space of just 13 months, President Enrique Peña Nieto has accomplished more in terms of economic reform than his two immediate predecessors managed in 12 years. Although the so-called Pact for Mexico — the broad alliance of the president’s PRI, the conservative PAN, and the center-left PRD — is effectively a dead letter, Peña Nieto managed to obtain approval of important reforms.
In November 2013, the top leaders of the ruling Chinese Communist Party (CCP) unveiled an ambitious roadmap for economic and social reforms to be implemented by 2020. The policy strategy hammered out by the CCP’s Central Committee is the strongest signal yet of President Xi Jinping’s commitment to replacing the existing export- and investment-focused economic model.
Democratic politicians are desperate to make up for ObamaCare’s disastrous roll-out. Thirteen states are increasing their minimums this year, and some Democrats believe raising the national minimum wage is a winning campaign issue for November. There’s no doubt that raising the minimum wage would reduce employment and slow economic growth.
President Obama has made it clear that he is no advocate of fossil fuels. He has gone to war against coal and refuses to allow drilling on most federal lands for oil. Despite this lack of support, the United States actually has a surplus of crude oil and natural gas. Domestic production is way up to the point where gas prices at the pump have started to come down. There’s even talk of exporting gas and oil, something that has been restricted since the 1973 OPEC embargo.
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