Group items tagged

This article gives an example of a nation putting price control on a product and how that affects the consumtion of that and associated products in a nation.

The article discusses a proposal by the Scottish government to impose a minimum price on alcohol in order to reduce the 'harmful effects of drinking'. Estimates conclude that this would save Scotland 950 million pounds over 10 years. Currently there is no concrete plan for a minimum price but the government is proposing an extra 40p per unit of alcohol.

This article describes the attempts of American senators to allow American pharmacies and patients to import prescription drugs from other countries at government controlled rates, thus avoiding higher, unregulated prices in the US.

The price controls implemented on products like seamless steel pipes have caused a glitch in fair trade worldwide. As a result, imports from China have surged and domestic producers have accused the Chinese government of setting unfairly low prices. Another problem undergoing scrutiny is whether or not Beijing has been manipulating its currency.

Australia wants to limit foreign stakes in big mining companies. These limits are aimed mostly at China, after several political and business arguments. These limits are a form of price control, as the Australian government is intervening in the market.

After G20 summit discussing the aftermath and the resolution for the ecnomic crisis that left great impact in the world market, countries agreed to establish tighter regulations over financial institutions and made advices for specific countries for improvement. For example, Japan and China were encouraged to reduce their dependence on exports by promoting products domestically. Quotas like these are examples of price controls in a world wide scale.