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As stocks tumble and populist frustration with the political and financial classes grows, Trump is bringing protectionism back in vogue -- making threats to upend trends toward globalization that are decades in the making through the sheer force of his negotiating talents. I have chosen this article in order to convey how politicians can use tariffs as a means to attract votes. Tariffs play a huge role in determining the import-export balance and using them in favor of domestic producers- even though it may cause the economy harm- may result with gaining advantage in ballots.

The Australia federal government announced plans to increase the tax on fuel despite not having parliamentary approval for the measure. Due to the rise of tax on fuel, the price of fuel tends to increase next month. The Minister claims that the effect on petrol prices would be "modest". But the impact on our capacity to build a stronger more prosperous economy will be significant. The measure is expected to expected to raise the government $2.2 billion over four years and $19 billion over the next decade.

For more than two years, the Organization for Economic Cooperation and Development, an international economic organization of 34 of the world's richest countries,have been debating how to produce a global tax system that would eradicate the sort of tax avoidance that has seen Apple squirrel away more than $160 billion overseas.

The holy river of Ganga that flows through new Delhi, capital of India, supports the lives of people living in about 118 towns. Over time this river has become highly polluted; some factors to blame for this would be modernization and ignorance. During the summer of 2014 a new Prime Minister was elected who has set up a project to clean this water body. The opportunity cost in saving this water body is time and financial resources. Roughly, it is said that the government plans of completing this project over 18 years while using millions of INR. The government is giving up these valuable resources to achieve something that is of high importance.

This article is about a legislative act of American government upon carbon emissions of firms- which is a government intervention towards a negative externality of production.

This article is about the new tax on soda in Berkeley, California. Apparently soda is now being taxed for 1c per ounce of soda. This tax (measure D) will levy a 1-cent-per-ounce tax on sodas and sugary drinks, and the money will go to the city's general fund. This measure wasn't intended to create funds for a specific purpose therefore it only needed the majority vote for it to pass. On the other hand, san francisco had a specific use for these excised taxes so it needed 2/3 vote for their proposition to pass (prop E). Furthermore, the excised tax for San Francisco would have been 2c per ounce of soda. This tax has been predicted to impact low income households since soda is predominantly consumed by them. This then leads to an overall increase in grocery bills, since the taxes aren't just levied on soda brands but also on grocery stores. This means that grocery stores may raise overall prices (of all goods) to pay the tax on soda.

The administration is close to sealing a trade pact with 11 Asia-Pacific trading partners, the Trans-Pacific Partnership (TPP), and is also negotiating a deal with the European Union. U.S. Trade Representative Michael Froman said on Tuesday Treasury had the lead on currency issues.

Eurozone finance ministers will meet again Monday for crunch talks on how to keep Greece solvent, and in the euro, after a first round of discussions ended in failure Wednesday night. Europe insisted Greece honor its commitments under the existing bailout program, 30% of which the new left-wing government of Prime Minister Alexis Tsipras says is unacceptable.

"India's merchandise exports expanded by more than 10% for the second month in a row in June, the latest sign that India's economy may be rebounding. June exports rose 10.2% from the year-earlier month, to $26.48 billion, after climbing 12.4% in May..." This shows how an injection (export) to the circular flow system of India has caused the money flowing to increasing for the better of the country. This is helping cover up the leakages that Indians spend on imported products mainly. The campaign by the new Prime Minister to increase exports and decrease imports is having significant impact on the countries economy.

According to the article, the Federal Reserve may be increasing interest rates in early 2015, increased rates anticipated to come much later in the year. Fed-Watchers and analysts may begin to see the accelerating wage and price inflation, as well as unemployment rates reaching NAIRU. This article also explains some key elements in our learning for this week such what NAIRU is, pressuring on wages, effects of low unemployment rates, etc...

As the global economy continues to face tough times, governments are increasingly playing politics with trade and giving in to protectionism. Says who? Well, Chinese officials, as it happens. Earlier this year, China's top promoter of foreign trade, Wan Jifei, said rising protectionism was having a negative impact.