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The trade deficit is high because our economy has gotten more advanced over time.At first glance, this may sound counter-intuitive, but hear me out:The “stuff” we produce today is more sophisticated than before. Generally, this means that it is by nature less physical and more intangible (i.e. software, services and intellectual property). Instead of producing physical things with our hands and physical labor, the value has shifted to producing intangible things with our minds and creativity.Our economy has gotten more specialized over time. Instead of handling every single piece of the manufacturing process, we have broken it up into a series of discrete steps and analyzed each step to decide whether certain activities are worth more of our time to handle than others. As above, this typically means activities where we use more of our brains vs. our hands. To free up resources on the higher value-add activities (which includes living more comfortable lives), we have diverted some of the more labor-intensive activity to our trading partners.As our economy has become more sophisticated, traditional metrics like “trade deficits” are less representative of how real economic value flows in international trade. To gain a more holistic view of it, we need to understand something called “Balance of Payments” or “BoP”.Even BoP is unable to fully capture all of the economic value flows. The increasingly intangible nature of the products and services we produce has led to a rise in the artificial shifting of trade offshore for tax purposes, to the point where goods and services created by Americans and sold to our trading partners do not even show up in our international trade accounting.After accounting for all of these points — which I will explain in greater detail below — it is important to note that we do still run a fairly large deficit with the rest of the world. However, this number is much smaller than the headline figures that are often bandied about.Also significant is the concept that we need to run some level of deficit with the rest of the world as part of the U.S. Dollar’s role as the global reserve currency, which turns out to be a very powerful and highly advantageous tool at our disposal.International trade is complicated and not the easiest thing to understand but I will try my best to explain using real-world examples. I believe it is worth taking the time to think about this topic so we can be better equipped (as a society) to make smart decisions when it comes to trade policy, especially at this critical juncture in history. The decisions that we make today will have long-lasting ramifications that will impact us for decades to come.To start, we will examine why the traditional “trade deficit” is really just one piece — that is becoming less significant over time — of international trade. To understand why, we need to get a little smarter on the intricacies of international trade and Balance of Payments accounting.Then, we will take a look at how the increasing sophistication of our economy has shifted value flows within BoP from “trade deficits” to other categories. We will also take a look at how certain trade flows aren’t even captured due to tax tricks that multi-national corporations utilize to minimize taxes. Finally, we will look at how this impacts our thinking on trade policy.Specifically, we will examine this question through the lens of the U.S.-China bilateral relationship, as it is one of the most important economic relationships in the world today and one that has been dominating news headlines in recent months.Welcome to class, my friends. It’s time to put on your learning caps. There might be a pop quiz at the end.BONUS: There will be guest appearances by Alec Baldwin and Emily Ratajkowski. And to spice things up even further, you are encouraged to channel the voice of Ben Stein, who plays an economics teacher in Ferris Bueller's Day Off:“Balance of Payments” 101: The Current Account“Balance of Payments” represents … anyone? anyone? … money flows coming in and out of a country for things like international trade and cross-border investment.At a very high level level, one can think of this as all of the various cashflows going in and out of your banking and investment accounts, perhaps as captured in an online personal finance service such as Mint.One difference is that most of the money flows for a household take place externally whereas for a country — especially a large one like the United States — most economic activity takes place internally, i.e. within the borders.BoP does not measure activity that does not cross the border. So if the foreign subsidiary of an American company sells in that foreign country, and decides for whatever reason not to send the profits back to headquarters, this activity is not captured in the BoP (at least not directly).In other words, BoP represents only a small percentage[1] of the economic activity of a large country like the United States — and it only measures the economic activity that officially crosses the borders. This is a really important idea that will become more evident as you read further.Within the Balance of Payments, there are two major types of money flows:Current Account — regular, ongoing economic activity like trade and income from foreign investments. In the household example, this is analogous to your salary, business income and income on passive investments/assets like dividends and interest income.Capital/Financial Account — investment-related economic activity like investing in foreign subsidiaries, issuing debt, etc. This is analogous to investing in stocks, or buying a house (both the equity down-payment as well as the mortgage you take out).We will first go through the Current Account. In 2017, the U.S. ran a $449 billion deficit on its Current Account — this is the number in the bottom-right corner of the table below. (Note: This is an important table; I will refer back to it a number of times throughout the discussion.)Source: U.S. Bureau of Economy Analysis (BEA)Outside of the trade in goods and services, the other big components are “Primary Income” (Line 2) and “Secondary Income” (Line 3). These categories represent, among other things, income generated by foreign subsidiaries, investment income generated on holdings of foreign securities, salaries paid to expatriates, remittances from foreign labor, etc.The other side of the BoP equation is the Capital/Financial account. We will get to this later but for now, let’s look at how the value flows from international trade are captured by the BoP. Specifically we will take a look at how our evolving economy has shifted certain values within the various Current Account line items.Economic Trend #1: Paper to SoftwareIn 1992 cult classic Glengarry Glen Ross (adapted from the 1983 Pulitzer Prize-winning play), Alec Baldwin plays the role of an experienced salesman who is tasked with motivating a few low-energy brokers in a sleepy branch office of a real estate firm. In one of the most electric single-scene performances in modern film history, he delivers a masterful and vicious monologue on the art of selling. He is our first guest lecturer.As you watch the monologue, pay attention to all the various selling tools of the day — index cards with the sales leads, spinning Rolodexes, poster advertisements on the walls, office supplies, landline telephones, and motivational prizes like cars and steak knives. (Note: You may have to watch a couple of times because Baldwin really does deliver a captivating performance.)Seven years after the film was released, software executive Marc Benioff left Oracle to start a new type of software company, one that delivered its services through the browser on an on-demand basis instead of having to be purchased up-front and delivered as an application on a PC or workstation. The first business department that it targeted was the sales department and was named, aptly, salesforce.com.Today, its software powers everything from selling, marketing, customer service to communications for thousands of businesses with operations spanning the globe.In just a few decades, the shift from the “pen and paper” era of Glengarry Glen Ross to sales automation software delivered as a service represented a shift from the physical world to the intangible. And the same shift can be seen in countless other industries and businesses across the globe.On the BoP, trade of physical goods is accounted for differently than trade of intangible goods. This is rooted in history.When modern nation-states started to keep detailed records of their international trading activity, essentially all trade was comprised of physical goods. Physical goods would cross borders and money would be exchanged. Nation-states were particularly interested in keeping detailed records of international trade because it was one of the most popular ways to raise money to fund governments and armies. For example, in 1915, approximately 30% of U.S. Federal Government revenue was funded through customs duties compared to 6% from the newly instituted income tax[2].As the economies and technology advanced, it became possible to start trading non-physical things. For example, let’s think about leisure travel. Back in 19th-century America, round-trip international tickets were not common. Usually international travel was a one-way ticket, i.e. permanent immigration and settlement. But improvements in the speed and cost of new transportation options opened the door to leisure travel. Today, leisure travel is one of the larger intangible services that is traded between countries. On the BoP statement, international travel is accounted for under Line 1.B.iii “Net Exports of Services / Travel” and contributed a $76 billion surplus to the American economy in 2017. Living in Lower Manhattan, which draws over 14 million visitors a year, many of them international, I witness this on a firsthand basis every day.Going back to our Glengarry Glen Ross example, whereas Rolodexes (or is it Rolodices?[3]) and steak knives would show up on Line 1.A. on the table above (“Net exports of Goods”), software and intellectual property would show up elsewhere, possibly under Line 1.B “Net exports of Services”.The good news is that when most people refer to the overall “U.S. trade deficit”, they refer properly to “Net exports of Goods and Services”. (Unfortunately, “most people” does not include the Leader of the Free World as we will see down below.)For example, from a February 2018 Wall Street Journal article[4]:The U.S. trade deficit in goods and services grew 12% last year to $566 billion, its widest mark since 2008 and a challenge for President Donald Trump, who has pledged to re-balance the nation’s books with the rest of the world.However, I have seen issues arise when when we start talking about bilateral trade surpluses/deficits — such as the one between the U.S. and China — where they only focus on the goods portion. For example, from the very next paragraph in that article (emphasis mine):The goods deficit with China alone rose 8% during Mr. Trump’s first year in office to a record $375.2 billion, or nearly half the total global gap between U.S. imports and exports, the Commerce Department said Tuesday.By including services in the first paragraph and ignoring it in the second, this presents a misleading picture of the U.S.-China trade relationship. Specifically, it overstates the “true” deficit we have with China. The slightly better figure to use would be $336 billion[5], which nets out the positive surplus that the U.S. gets from the trade of services with China.Further, since much intermediate trade goes to China via Hong Kong, an even better figure to use would be $301 billion, which factors in the trade surplus the United States has with Hong Kong — which is accounted for separately from Mainland China[6].But as I will explain in the next section, due to the increasing specialization in global supply chains, even this $301 billion figure over-states the “true” value deficit between China and the United States.Economic Trend #2: Global/Special-ization of Supply ChainsGlenn Luk's answer to Where does the money I pay for an iPhone go?In this earlier answer, I took the reader on a journey around the world, from the initial purchase of an iPhone in London, to its manufacture in China, to its original design in California. At the end, I summarized by showing how the economic value of a £999 iPhone is split up between the various contributing economies.One of the key takeaways in the answer — which should be fairly evident after all of the frequent flier miles accumulated on the journey — is that the global supply chain today has gotten really complicated. Components are designed in one place, manufactured somewhere else and shipped to a third place to be assembled by machine-assisted hand. IP is invented in one region, domiciled in another (for tax purposes) and monetized in an increasing number of creative ways.This was, of course, very different two centuries ago, when “goods” were largely manufactured from start to finish in a single economic zone or region. Think back to the Triangular Trade of the 18th and 19th centuries when manufactured goods would flow from industrialized England to the Americas, raw commodities would flow from the Americas to Europe and, of course, the despicable trade of humans from Africa to the Americas[7]:Because of this, trade surpluses and deficits back then were pretty accurate reflections of the true economic value flows between nation-states. But as supply chains specialized over time — driven by a massive reduction in friction costs, primarily in the form of lower tariffs and lower transportation costs — international trade accounting has had a tough time keeping up with the changes. This is especially true when applied to measuring bilateral trade relationships such as the one between the U.S. and China.The particular issue here is that China captures only a fraction of the economic value of the (primarily) physical goods that it exports to the United States. But from an international trade accounting and BoP perspective, “Made in China” gets full credit.For example, I showed in the iPhone example how China captures at most one-eighth of the production value (BOM) of an iPhone … and an even smaller amount of the retail value:It needs to import dozens of expensive components from places like South Korea, Taiwan, Germany, Japan as well as the United States.It needs to import crude oil from Saudi Arabia to power the trucks and ships that ferry the components and finished goods back and forth.It needs to import advanced industrial equipment to perform many of the intricate manufacturing steps needed to produce hundreds of millions of iOS devices every year.Despite all of the impressive advances the Chinese economy has made over the years, it is still really only capturing a thin layer of value-add of the iPhone, as well as many other common export categories.This shows up in international trade accounting in the large trade deficits that China runs with many of the upstream component and intermediate goods manufacturers. It imports sophisticated capital equipment from places like Japan and Germany to build out its factories. It imports energy and commodities from places like Australia and the Middle East to power its manufacturing operations. It imports the high-value components that make up the innards of the finished products that it assembles.In other words, much of its bilateral trade surplus with the United States is merely passed along to other countries. We can see this in some of the large bilateral trade deficits China has with other countries:Sources: China Statistical Yearbook, MIT Observatory of Economic ComplexityOne quick way to gauge how much pass-through trade surplus China takes on from the United States is to look at Balance of Payments data from its perspective. In 2017, China generated a Current Account surplus of $165 billion, or around 1.4% of GDP. This was down from a peak of $421 billion in 2008 on the eve of the Global Financial Crisis, which represented almost one-tenth of China’s (much-smaller) GDP at the time.The difference between the $336 billion and the $165 billion is a rough approximation of the “pass-through” trade surplus to other countries and $165 billion is a much more accurate reflection of the true economic value flows.(Note: One side takeaway from the chart below is that China is far, far less reliant on a mercantilist, export-centric economic development strategy today compared to a decade ago.)Source: State Administration of Foreign Exchange (中国国际收支平衡表_国家外汇管理局门户网站), TheGlobalEconomy: China Current Account (% of GDP)On top of this, we also need to remember that the United States is not the only trading counter-party that China runs a large trade surplus with. In particular, it runs large trading surpluses with the U.K., India and much of Europe (ex-Germany). In other words, perhaps only 60–70% of its Current Account surplus is actually attributable to the United States.But even the more holistic Current Account metric fails to capture all of the international flows of economic value. This because in many cases, the money flows from U.S.-produced IP never even directly crosses the U.S. border. Value is still captured by Americans but mostly indirectly and spread out over a long period of time. To see why, we need to look into international tax accounting and the Capital/Financial Account portion of Balance of Payments ledger.Economic Trend #3: The Absurdity of International TaxationGlenn Luk's answer to How will the race to 5G dominance play out between Qualcomm and Huawei?In another recent answer, I discuss how Qualcomm built up a massive patent portfolio over the years and monetized it largely by collecting licensing fees from smartphone and network equipment OEMs. Like Apple in the earlier example, much of this IP sits offshore for tax reasons.If the end customer is American, the money flow will show up through the importation of what is typically a physical hardware device, like an iPhone. Because of some of the quirks in BoP accounting I described above, even though most of the iPhone’s IP originates from the U.S., it still ends up contributing to our bilateral trade deficit with China.This absurdity can be seen in an example from an earlier answer[8] that shows how this might work for an iPhone:Things get even more non-sensical when the end sale takes place outside the United States.For tax reasons, the IP is domiciled offshore, in a tax-friendly jurisdiction like Ireland. When Apple sells an iPhone to an end customer in London, the profits are collected offshore. None of the money ever flows back “onshore” to the United States, lest it be subject to something called a “repatriation tax”. (Note: this may change with the new 2017 tax laws but is relevant for all of the data we are looking at here; see Explanatory Note i)As such, even though this is clearly an export of American IP, much of it is not even captured in any of the BoP line items.To be fair, a small portion of it would show up in Line 1.B. “Exports of services”, likely under the “charges for the use of intellectual property” sub-category. This is because there are rules around something called transfer pricing[9] that govern intra-company asset transfers:For example, say Qualcomm engineers in San Diego come up with a new invention and patent it. The company’s tax accountants want the IP to sit in a tax-friendly place like Ireland so it needs to arrange the transfer of IP. It must follow some transfer pricing rules, which means selling the IP at some nominal “cost-plus” markup. It would recognize a nominal amount of onshore U.S. profit, on which it would pay a small amount of tax. From Ireland, Qualcomm can sell the IP globally and pay a much lower tax on profits than it would have if it had sold it from the United States.(Note: I am not an international tax accounting expert and I might be missing some steps and/or jurisdictions but this should be directionally correct based on discussions I’ve had with actual experts.)The net effect is that international sales of this IP do not generate any onshore money flows and, accordingly, are not calculated in the U.S. BoP accounts. But this does not mean that we are missing out on the benefits of the trade. It just shows up in different line items and is spread out over time. To find out how, we now have to learn about the Capital/Financial Account section of the BoP.“Balance of Payments” 102: The Capital/Financial AccountWe’re back in the classroom, students. Kudos to all of you who decided to come back for second semester.I’ve been writing this darn thing so long that I’ve aged quite a bit since we last met:As you might guess from the name, Balance of Payments ultimately needs to … anyone? anyone? … balance.So if you run a large Current Account deficit, the deficit will need to be funded somehow. If you run a large Current Account surplus, you will need to send the surplus capital outside the country. These transactions are captured in the Capital/Financial Account.As we have been running large trade deficits for most of the last three decades, as Warren Buffett likes to say, we have been issuing “claims checks” to our foreign trading partners to pay for all of the extra stuff that they send us[10].These claims checks generally come in two forms: debt and equity. The debt is primarily made up of U.S. government bonds, debt backed by various forms of real estate, and debt issued by our corporations. The equity is made up of publicly traded equity as well as private (non-traded) investment, also known as “direct foreign investment”.Over the years, our foreign trading partners have accumulated quite a large stash of claims checks. But how much exactly?The U.S. Treasury releases monthly data on the market value of traded securities held by foreigners and the number is around $19.0 trillion as of September 30, 2018[11]. This figure is comprised of:$6.6 trillion in U.S. Treasuries and Agency bonds$3.8 trillion in U.S. corporate bonds$8.6 trillion in U.S. equities$19 trillion is a whole lotta skrilla.But this figure needs to be reduced, or netted off, by foreign assets held by Americans of around $11.8 trillion[12], comprised of:$2.9 trillion in government and corporate bonds$8.9 trillion in other securities (e.g. corporate debt, equities)These figures exclude foreign direct investment (FDI) but the good news here (for those of us who are less mathematically inclined) is that outbound FDI stock is almost exactly equal at $6.4 trillion each[13].So, netting everything out, foreigners own about $7.2 trillion more of America than Americans own of the rest of the world. As a sanity check, this number ties (roughly) to the accumulated Current Account deficits that we have generated since 1999 (which was about the time we started to generate large deficits) of $9.3 trillion[14]. (Note: it will not be exact because there are other line items in the Capital/Financial Account like straight-up currency and direct loans, as well as a plug account “statistical discrepancy”).Also, remember all of that cash that never made it onshore because American multi-nationals (“MNCs”) were trying to avoid taxes? This cash (and re-invested foreign profits) — some $2.6 trillion[15] of it sitting in foreign subsidiaries of the MNCs — is part of this $7.2 trillion net figure.If MNCs had been repatriating their overseas profits as it was earned, it would likely reduce our Current Account deficit by at least $150 billion per year. It supports the market/intrinsic valuation of the companies, and the mostly American shareholders of these MNCs benefit from this value, but from an international accounting perspective it does not show up directly.Over the very long run, the benefit will show up in the Balance of Payments accounts, via foreign purchases of equity and securities that have increased in value value over time. But the key point here is that the BoP effect will show up over a long period of time and also be subject to fluctuations in market sentiment (affecting valuation multiples).Phew! That was a lot of math and big numbers. The good news is that our final guest lecturer has arrived!Photo Credit: Sports IllustratedJust kidding, we are are not going to talk about Emily Ratajkowski. I just noticed some of you in the back falling asleep and I needed to get your attention because the next point is an important one.(Note: Yes, I know, that was quite shameless. But before I get inundated with #MeToo hashtags, remember y’all got young Alec Baldwin earlier in the lecture. Not to mention a young-ish Ben Stein.)Economic Trend #4: The Almighty U.S. DollarSo … $7.2 trillion is still a lotta skrilla. As a country, you would rather have a net positive international investment position than a negative one. But America has another trick up its sleeve: Our currency is the global reserve currency.Without getting too much into the details, one of the advantages you get by controlling the global reserve currency is that you end up owning a much more productive pool of foreign assets than foreigners own of you. To illustrate this point, we will make our last reference to Balance of Payments.Here’s the important table repeated from up above. Line 2 is something called “Primary Income”. Most of this line item is made up of investment income earned on bonds (interest income), stocks (dividends) and foreign direct investment (repatriated earnings).Despite the fact that foreigners own over $7 trillion more in American assets than Americans own of theirs, the United States generated $222 billion more Primary Income than it exported in 2017. In other words, the mix of overseas assets that we hold is significantly more productive than the U.S. assets held by foreigners.The main reason for this is that a large portion of the $19.0 trillion in liquid assets held by foreigners is made up of low-yielding U.S. Treasury government bonds. Whereas the majority of liquid foreign assets held by Americans are higher-upside (and often higher-yielding) equities — and even the bonds that they hold typically generate higher yields than U.S. Treasuries. Moreover, American outbound FDI tends to be comprised of more productive business assets while inbound FDI from foreigners includes more passive investments like real estate.It’s not that foreigners like holding low-yielding American assets. It’s that they are effectively forced to because of the U.S. Dollar’s status as the main global reserve currency. As the de facto global store of value, it becomes the standard place to “park” assets. So when countries like China run massive trade surpluses year after year, they are essentially forced to acquire low-yielding U.S. Treasury assets. As long as the U.S. Dollar dominates global trade, we get to set the rules.Having your currency as the dominant reserve currency gives you the world’s Most Amazing Credit Card: One that comes with unlimited credit, low borrowing rates and the general right to “not give a f—” when it comes to monetary policy.Like this, but made out of an Adamantium-Vibranium alloy.It also has no expiration date — provided you remain the dominant reserve currency. And to remain the dominant reserve currency, you need to be willing to take a leadership role in trade, not turn your back on the world. I do very much hope that we are doing our very best to make sure this card is in our wallet for decades to come.The Bottom Line: What Needs to be Fixed and How Do We Fix it?To fix things, we first need to get the facts straight. The problem with our trade policy decision-making today is that we are using the wrong numbers … and this will inevitably lead to the wrong prescription.During the 2016 Presidential Debate, Donald Trump said that America had an “almost $800 billion trade deficit”[16]. After becoming President, he has continued to repeat this $800 billion figure[17] ad nauseum.As I have described above, this number is completely misleading. Our economy is not a goods-based economy, it is a knowledge-based economy and if we account for this, the true deficit is much closer to $300 billion than $800 billion:The other problem is that President Trump appears to be almost singularly focused on China for taking our jobs, attributing “$500 billion” of the trade deficit to them. But again, to ground ourselves with the right facts and reality, we need to look at how other countries stack up:What’s really going on here is that the Anglophone (English-speaking) countries as a group are importing capital (and exporting jobs) to two major economic regions: East Asia and Northern Europe.China is only part of the issue — it makes up less than one-third of the aggregate “East Asia” surplus. Even more importantly, the labor-intensive jobs that we have lost to China are probably not the ones we want. It’s the high value-add, highly paid knowledge worker jobs that we should aspire to and those are more likely found in places like Japan, Germany, South Korea and Taiwan, not China.If we look at things on a per capita basis, the contrast is even more stark. At least from the traditional definition of mercantilism, China barely registers.Note: Data may not sync up exactly with previous table; data was pulled from an older answer[18].If we put all of our trade policy focus on China, we are going to have a tough time solving the real economic realities that we face.Now there may be other strategic and geopolitical reasons to focus on China these days and that might very well be the right course of action. But if that’s the case, let’s be up front with ourselves about call a spade a spade. Moreover, enacting trade policy that leads to us pulling back global trade is probably exactly opposite action we should be taking from a geopolitical perspective.Let’s make decisions based on facts and reality, not falsehoods and blind populism.Anyone Left? Anyone?For the few remaining readers who have made it to the end, I have a special bonus for you. Pop quiz time!! (Chill … they are all true-false questions. Plus you were warned at the beginning of class.)True or False?The modern evolution of our global economy has meant that the goods we trade are less physical and more intangible.Traditional ways of measuring international trade flows like “trade deficits” are having a hard time keeping up and accurately representing modern trade.Using more holistic measures of trade, the U.S. trade imbalance is much smaller than the headline numbers.In particular, the “true” bilateral deficit with China is significantly lower than the headline numbers once you account for “pass-through” surpluses and the crazy things that companies do to avoid paying taxes.Running a manageable deficit is not actually a bad thing, especially if it is part of controlling the world’s dominant reserve currency.It’s important to get smarter on trade so we can avoid enacting stupid trade policy.Alec Baldwin was pretty awesome in Glengarry Glen Ross.The U.S. trade deficit is high in large part because our economy is more advanced and sophisticated than ever.(Answer Key: All TRUE)Class dismissed.Explanatory note[Note i] With the passage of the Tax Cuts and Jobs Act of 2017, changes in the tax system have reduced the disincentive for companies to repatriate taxes back to the United States[19]. While it seems likely that this will change the onshore/offshore cash dynamic, history has shown how the amazing creativity of investment bankers and accountants when it comes to creating new and sophisticated tax structures.Footnotes[1] Glenn Luk's answer to Why is the USA so rich if its trade balance is negative?[2] How Has Federal Revenue Changed Over Time? | Tax Foundation[3] Is the plural of "Rolodex" called "Rolodexes" or "Rolodices"?[4] U.S. Trade Deficit Grew to $566 Billion in 2017, Its Widest Mark in Nine Years[5] Glenn Luk's answer to What is the cause of our trade imbalance with China?[6] Hong Kong - International Trade and Investment Country Facts[7] Triangular trade - Wikipedia[8] Glenn Luk's answer to Do any countries have a trade surplus with China?[9] Transfer pricing - Wikipedia[10] America's Growing Trade Deficit Is Selling The Nation Out From Under Us. Here's A Way To Fix The Problem--And We Need To Do It Now.[11] http://ticdata.treasury.gov/Publish/slt2d.txt[12] http://ticdata.treasury.gov/Publish/slt2f.txt[13] https://fas.org/sgp/crs/misc/RS21118.pdf[14] Balance on current account[15] Apple Leads These Companies With Massive Overseas Cash Repatriation Tax Bills[16] Read the Transcript of the Second Presidential Debate[17] Trump Hates the Trade Deficit. Most Economists Don’t.[18] Glenn Luk's answer to What is the cause of our trade imbalance with China?[19] Evaluating the Changed Incentives for Repatriating Foreign Earnings

It is a myth that we got globalization in 1992:“India fought 250 years to throw away one Britain company called EAST INDIA COMPANY and in 1952 Nehru brought back more then 100 British companies to loot India, may it be Brook Bond, Lipton, ITC, HLL, Uni liver etc. Now ‘they’ did not need to be India to LOOT our country”To start with….We MUST understand prevailing Facts in 1947 as the BASELINE to understand Congress misdeed.I will mostly concentrate on the CRUCIAL fundamentals (otherwise it will keep on going) which Congress did not work or avoided or deliberately deviated, which would had changed our picture in world arena (Last 10 - 15 years of congress scams, corruptions etc is well known to all, so I will NOT discuss that). I will cover politics at last.Freedom StruggleCongress was created by AO Hume in 1895 with the intention to gather English educated Indians who can convince British policies to Indians so that no civil revolution happens in India. Motilal Nehru was the founding member of this CongressCongress struggle for freedom was only for odd 20 - 25 years, that too with breaks, under the leadership of Mahatma Gandhi. Real Struggle of India only started once when Gandhi started Civil Disobedience movement - 1930, Non Cooperation movement - 1922 and Quit Indian movement - 1942. Rest of time, It was just following and negotiating with British on the pretext of freedom struggle. Final nail in the coffin for British was done not by Nehru / Gandhi but by Bhagat Singh hunger strike - 1931 and Neta ji Subhash INA strike in 1943. Both struggled for SAMPOORN SWARAAJ in contrary to Congress call / approval of British constitution - Indian citizenship Act - 1930How Nehru clan became Gandhi is itself a story, but let us not talk about it.Economically,For 45 years (1947 to 1992) we were into socialist / nehruvian economic model with growth rate of 3.5 (they called it Hindu rate of growth), and finally we were almost bankrupt in 1992 when Janta Dal / Narsimha Rao brought globalization with lots of imposed conditions to sign WTA agreement which lead to suicides of our farmers till dateIn 1947, Britain was supposed to give us millions of rupees which Nehru denied instead Nehru took Loan from Britain which asked first time to devaluate our currency. Moreover, Nehru did gave away 66 crore to Pakistan, which would has solved our problems then and we had not been trapped into LOANS and survived our economy then. In fact, this made Nehru to invite back atleast 20 big major MNCs from britain to trade in India, since 1952.Till 1930’s or so, Indians were controlling world’s 33% (approx.) trade. That is another thing, then trade profits was going to British India and it was looted from usIn 1947, One dollar = 3 Rupee (approx.)In 1947 ,Wheat production was 4 lac metric ton. Population was 34 crore. though, most of production was moving to Britain, leaving our people dying. Bengal Famine of 1943 is biggest example.Though we were British ruled, we were the BEST in all third world 72 countries including China, Japan, Australia, Brazil, South Africa etc in terms of production, industrial development of Iron, Steel, Zinc, Agriculture, Cotton, Dairy, Clothes, Tea, Vegetables, Fruits etcMoreover, read about WTA agreement which Congress signed in 1995 and implemented in 2005, which compel the government to reduce farmer subsidies and allow unrestricted imports of agriculture subsidized products from foreign lands.Indian farmers work on loan and reducing subsidy further makes our farmers products costlier then foreign imported products and that is reason for farmers suicides since 2005.Congress signed an agreement to reduce 4% subsidy from 2005, devaluate our currency for every loan India takes, remove quantitative restriction and qualitative restrictions, so as foreign companies can bring as much of their subsidized agriculture products to our marketsDo you know since 1970, private sector, government employees and politicians earnings increased 20000 to 30000 times and farmers' products MSP raise just 19 times, that too when inflation and loan rates increased 100 folds..who is responsible?Do you know that in 1970’s per capitia income in India was 60000, and in china it was 64000. Today, thanks to congress economic model, we have per capitia income of INR 134000/- (approx.) and china’s YEN 644000/- (6 times increase in Chinese income)Annual Budget in India used to be declared by British in the evening at 5:30 PM so that British parliament House of Commons could see and approve the Indian budget at their time - 11:30 AM, Ironically, Congress kept this practice going till 1997 when BJP came and stopped this practiceAgriculture GrowthCongress NEVER ALLOWED agriculture to become a Growth sector, reasons best known to it . It could had been one of the biggest growth sector for India because of few reasons mentioned here:Indian cow milk called A2 is 4 times costlier then normal gersy milk in america which you could had pasteurized and sell overwheat, vegetables,fruits etc in western countries is much costlier sold then in India…that could be another sector of growthCow urine,that is effective for Ayurveda medicines (by the way america use 3/4 times of its public urinals for making medicines) and congress call our cow communalCow urine - Wikipedia (Cow urine - Wikipedia (Cow urine - Wikipedia))http://govigyan.com/patents/us-patent-no-6410059.pdfThen we have cow milk products like bread, butter, Paneer, low fat milk, multiple ton milks etc which you our farmers could had sold. Ironically, we are not selling but we are buying Dr Becker and foreign such products…Isn’t it strange and tell you somethingCow dung, which can be used to make Agarbatti, Ayurvedic medicines etc,Organic farming Urea, Pesticides, Insecticides etc, which is the trend in world today is made by Cow Dung…What is the essence of Organic farming and what is the difference with normal farming is because of these Cow products only…So ,why we did not use it into agriculture growth sectorSince 1947 of congress rule, Agriculture products import in congress was very large which was biggest chunk revenue generation for them (not country)Green revolution came only 18 years post 1947 by lal bahadur shashtri (remember..jai jawan jai kisan)..For 18 years, this country ate red pebble wheat which america used to import, that was served to animal husbandry in america. it was Nehru ruleDefenseBefore partition of India, during world war 2, we had the powerful Army of 25 Lac of which India got 14.7 lac post independenceNehru reduced army to 3.5 lac, saying we do not have any enemy post 1948 war, hindi cheeni bhai bhai slogans and shut down all ordinance factories and reduced air force to junkyard. Army expenditures were cut down Result - we fought 1962 Chinese ware barefoot and lost our territory (AKSAI CHIN) from where china is building CHINA PAKISTAN TRADE CORRIDOR today,First freedom struggle of 1857 show Hindus / Muslims struggling together in communal harmonyWe improved in Space technology where we developed most of advanced rockets and satellites with least costs, but we could not do so to improve our missiles and defense systems (though ,rocket technology is the one used in missiles) because Congress believe in purchasing and having commissions.A country which was producing the best of space produces could not built even a single GUN or aircraft. You must know space technology is the most advanced and complex technology in the world.Now congress scams like Bofors, Jeep Scam, Augusta Westland, Thorium Scam, Submarine scam etc are well knownConstitutionConstitution of BR Ambedkar was never enacted / implemented. Nehru as PM, suggest modifications and inserted laws from Constitution of Ireland and Indian Citizenship Act - 1930 which British made to rule the country. Example: Ambedkar proposed reservations for 10 years. Nehru added, it will be reviewed after 10 years, and if required, will increase. That review never happens.Nehru tool Article 370 of J&K decision without keeping Cabinet into confidence.All Acts like Income Tax Act, Police Act, Citizenship Act (which allowed Britain royal families to come to India without visa), Company Act, Education Act, Indian Forestry Act, Indian Husbandry Act, Labour Union Act and other such 32747 laws were created by British, after 1957 independence struggle. Congress continued and accepted these laws as is, post 1947. It was only when Janta Dal came to power in 1979, these laws mostly started reforming, but still we have more then 30000 laws from British eraPost 1930, Congress / Nehru / Gandhi agreed approved British constitution - Indian Citizenship Act - 1930, and formed the government under British rule, with Nehru as PM. And it was when Bhagat Singh / Neta Ji Subhash asked for “Complete Freedom - Poorn Swaraaj”, that Mahatma Gandhi / Nehru had to retreat and demand same.Technology / AdvancementSecond half of 20th century (since 1950) the time when world moved from moderate technologies to advance technology revolutions like Industrial revolution, Einstein theory of mass conversion to energy came, relativity theory came, Ramanujan’s Geometry formulas were practically used in advancement of civil engineering and vast constructions and space and aeronautics technology advancements, nuclear power got introduced, Agricultural revolution happened, Weapon industry advanced, Dairy revolution happened, Space and technology happened and what not…..India has got all 36 climatic zones existing across the world. It has all kind of resources through out. We have ample water and best of climatic conditions to produce all kinds of agriculture products and minerals and resources. But Congress could not use them for our development during the 50 years phase of world advancement in technology and innovationsCongress UPA allegedly smuggled 48 lakh crore of THORIUM (second most radioactive material, after uranium used in nuclear technology) to America. APJ Abdul Kalam, then president said: ”it is not the loss of money but loss of our future advancement and technology to come”Congress UPA did not allow APJ Abdul Kalam, second term to presidential office post thatPolitics“Congress ruled for 55+ years without any opposition - decisively UNOPPOSED. They were ruling from states to union territories to lok sabha to rajya sabha to cities to towns to districts to villages to Gram panchayts every where without oppositions. Still we are, where we are today with 60 -65 % population struggling for two time bread and majority of remaining, struggling to survive or enjoy with Thought - ”what happens after two months, if job goes away”America offered UNSC seat to India, post independence - 1947. Nehru gave that to China on the platter unconditionally.Before 1962 India - China war, among many, Kailash mansarovar was part of India (today’s Aksai Chin)China was gifted away most mineral rich Kashmir area by pakistan post 1948, and Nehru did not revolt on that, in the pretext of Hindi Cheeni Bhai BhaiIn 1948 India - Pak war, we were winning to capture today’s POK, when Nehru went to UNSC for mediation and made the bilateral issue, a big international issue. Result, most mineral rich part of Kashmir was gifted by Pakistan to China post that war.Sardar Patel united all country. Nehru intermediate in J&K. And till date, people are dying there and we have lost the territory to Pakistan and China. Moreover, we are witnessing a security threat today in terms of CPEC corridor going via POK which we say, it is ours.Army won three wars with Pakistan on issue of J&K, but Congress lost all democratically, in-spite capturing 90000 Pakistani soldiers in 1971, POK is still with PAK.Nobody knows till date, who killedLal Bahadur Shashtri - post mortem not allowed inspite full body been pale blue due to alleged poisonHomi Jahangir Bhabha - killed in new plane crash due to then government leak of him declaring to produce the nuclear atomic bomb for India, Alleged been murdered by American to avoid India having atomic bomb in early 1966’s. No probe doneNeta Ji Subhash Chandra Bose death is still a mystry till date. Letters are found saying that he was allegedly killed in Russian jail by then Nehru friend Russian President LeninMahatma Gandhi - Shot by 4 bullets when Godse said he just fired 3 and 3 live bullets were found in his revolver (allowed to had only 6 bullets). Who fired 4th bullet? No probe done. Gandhi’s reason of death - loss of blood. He was not escorted to hospital 4 km away even after 8 hours of being shot. Biggest beneficiary of his death - nehruJP - Nobody knows how he got died in Jail in emergencyDeen Dayal Upadhyay - Nobody knows how he died in Jail in J&K12 ISRO scientists were killed during 2004 - 2014. Reasons still not known.Since independence, Congress has been following vicious cycle of appeasing farmers byUsing corporate money to provide small things during elections and waiving loansOnce elected, asking banks to provide loans and tax benefits to corporateAfter 2 years or so, declare loan as NPA.Once election comes,repeat cycle but never introduce reforms like providing houses, shelter, hygiene,ensure getting good rates of there products etc.Compare with China - from 1970’s till dateChina and India both were growing at same pace till 1970, at 3.5 % growth, through socialist economic model, though India performing better then in 70s’.In 1970, China changed track and opted for manufacturing and went ahead developing infrastructure, improving health, skill programs, improving banking, transport and all required for production and manufacturing growthIndia and Congress, kept on moving with same pace through nehruvian economic model, till when in 1992, Jantadal framed globalization model was opted by Narsimha Government and post that we opted Service sector.In services, we started providing lands to foreign companies which developed SEZ, created infrastructures, and provided employment, at the same time consuming our resources to generate revenues for themselves. Our government just had to sit back and manage and admin and collect taxes from employed citizens and MNCs, far away from Chinese model of utilizing its resources for its own benefits.Today, we struggle since out most beneficial sector IT services have reached saturation. Even Chinese do reach saturation in manufacturing. But Chinese coming from manufacturing to Services is easy but for us going from relaxing air conditioned services to labour oriented manufacturing is difficult and this will keep us lagging for decades to come behind china, unless we do something extra, real extraThere are lots of lot, which cannot be mentioned due to time and limts. Ironically, I tried to touch only the second era of 20th century, which if we had utilized would had been the world’s developed and most prosperous nation. Thanks to congress, we are not..

Perhaps you should channel your writing by being involved in the school paper or Year Book, debate team, essay contests etc.beginning of content:The Atlantic & College Board Writing Prize2016 Writing Prize Winner AnnouncedThe College Board and The Atlantic want to thank all students who submitted entries for the 2016 Writing Prize. We’re encouraged by the positive response of students who, through this exercise, learned the importance of analytical and reflective writing, essential skills for college and career success, while thoughtfully engaging with a variety of artworks. Entries were judged by 24 college professors of art history and composition who read over 1,600 submitted essays from the U.S. and 43 other countries. They were impressed by the intelligence and passion shown by students in describing their engagement with great works of art.This year’s winner, selected by a panel of College Board and Atlantic staff, is Thanh Nguyen, a student at Hanoi-Amsterdam High School for the Gifted in Hanoi, Vietnam. His essay — on School of Athens by Renaissance artist Raphael — stood out for his rich interpretation of the painting and his thoughtful and engaging description of its relevance to his life in contemporary Hanoi. For his accomplishment, Mr. Nguyen was recognized at [Opens in New Window]The Atlantic Education Summit in Washington, D.C., on May 17th. He received a $5,000 prize, and his essay will be published in the September 2016 issue of The Atlantic.Two finalists each received $2,500 prizes. Alejandra Canales attends John B. Alexander High School in Laredo, Texas. She was recognized for her powerful writing about culture and identity in her analysis of Frida Kahlo’s painting Autorretrato en la frontera entre México y Estados Unidos. Her fellow finalist, Rahul Malayappan, is from Danbury High School in Danbury, Connecticut. His essay was selected for its sophisticated analysis of M. C. Escher’s lithograph Waterfall and for its exploration of reality versus perception and the limits of perspective.The Importance of WritingTeacher ResourcesThe new online module [Opens in New Window]Writing About Art offers strategies to help students transform their analysis and interpretation of art to writing.Writing is one of the most important skills to master. Not only is writing essential for college and career, but learning to write clearly also helps students develop their thinking skills. To be successful at analytical writing, students must support their arguments with evidence found in the text and clearly convey information to the reader. It is this kind of writing that allows students to build knowledge, deepen understanding, and develop informed opinions.With this in mind, [Opens in New Window]The Atlantic and the College Board have collaborated to create this annual contest. The focus of this contest will change each year to align with the introduction of a newly redesigned AP course and exam.27 Free Writing Contests: Legitimate Competitions With Cash PrizesFebruary 11, 2016 By Kelly Gurnett 236 CommentsWhen I was about 12, I saw an ad in a magazine for a poetry contest that sounded fancy and impressive, something like “International Library of Poetry.” I bled poetry at that age, so I crossed my fingers and sent in a poem I’d been slaving over for weeks.And, lo and behold, the people behind the contest quickly wrote back to tell me my poem had been selected as a winner!I was speechless with honor. Of the thousands of poets who must have submitted to the contest — no doubt many of them adults much wiser and more skilled than me — my poem had been chosen to be featured in an exclusive, hardcover anthology! And honored on a something-karat-gold plaque!Of course, I had to pay $50 if I wanted to see my work in print in the anthology, and I had to pay another $100 if I wanted the plaque. Those were the only “prizes.”Even as a pre-teen, I sensed a scam.Sadly, not much has changed when it comes to companies trying to take advantage of writers who want a chance at recognition and maybe a little bit of money. Google the term “writing contests,” and you’ll come up with approximately 7.9 million results. It can be hard for a writer to know where to start looking for competitions, and how to tell if they’re legitimate or not.So I’ve done the legwork for you.Here are 29 reputable, well-reviewed, free writing contests for poets, fiction writers, essayists and more. Some legitimate contests do charge a small entry or “reading” fee, but often a fee can be a red flag for a scam, so you may want to stick to free writing contests — and there are certainly enough of them.Fiction and nonfiction writing contestsReady to share your novel or personal essay with the world? Whether you’re a newbie or more established writer, you’re likely eligible for a few of these contests.1. L. Ron Hubbard Writers of the Future ContestWhatever your feelings about L. Ron Hubbard’s work and philosophy, the prizes for this regular contest are nothing to sneeze at. Every three months, winners earn $1,000, $750 and $500, or an additional annual grand prize worth $5,000.Submissions must be short stories or novelettes (up to 17,000 words) in the genre of science fiction or fantasy, and new and amateur writers are welcome to apply.Deadlines: Quarterly on January 1, April 1, July 1 and October 1.2. Graywolf Press Nonfiction PrizeAwarded to “the most promising and innovative literary nonfiction project by a writer not yet established in the genre,” this prize provides a $12,000 advance and publication by Graywolf Press.If you live in the U.S. and have published at least one book (in any genre), you’re eligible to submit a current manuscript in progress for consideration. The judges look for winners who push the boundaries of traditional literary nonfiction.Deadline: Annually; the 2016 deadline was January 31.3. Drue Heinz Literature PrizeYou can win $15,000 and publication by the University of Pittsburgh Press with this prize, awarded for a collection of short fiction.You may submit an unpublished manuscript of short stories, two or more novellas or a combination of novellas and short stories. Your total word count should be between 150 and 300 typed pages.Deadline: Annual submission window is May 1 through June 30.4. Tony Hillerman PrizePresented by St. Martin’s Press and WORDHARVEST, this prize awards the best first mystery novel set in the Southwest with $10,000 and publication by St. Martin’s Press.It’s open to professional or non-professional writers who have not yet had a mystery published, and there are specific guidelines for the structure of your story: “Murder or another serious crime or crimes must be at the heart of the story, with emphasis on the solution rather than the details of the crime.”Deadline: Annually on June 1.5. St. Francis College Literary PrizeThis biannual prize honors mid-career writers who have recently published their third, fourth or fifth work of fiction. The winner receives $50,000 but must be able to appear at St. Francis College in Brooklyn, NY to deliver a talk on their work and teach a mini-workshop in fiction to St. Francis students.Deadline: Biannually; the deadline for work published between June 2015 and May 2017 has not been announced.6. Young Lions Fiction AwardThis $10,000 award recognizes “young authors,” which the rules define as any author aged 35 or younger. Submit any novel or short story published or scheduled to be published in the calendar year. Works must be written for adults; children’s or YA pieces are ineligible.Deadline: Annually in August.7. Real Simple’s Life Lessons Essay ContestHave you ever had a “eureka” moment? If you have, and you can write a compelling personal essay about it in no more than 1,500 words, you may be able to win $3,000 in Real Simple’s annual essay contest.Deadline: Annually; 2016 deadline has not yet been announced.8. New Voices AwardPresented by Lee & Low Books, an award-winning children’s book publisher, this award is given for a previously unpublished children’s picture book manuscript (of no more than 1,500 words) written by a writer of color.The winner receives $1,000 cash and a standard publication contract. You may submit up to two manuscripts.Deadline: Submissions must be postmarked by September 30 each year.9. Ernest J. Gaines Award for Literary ExcellenceThis contest aims to provide visibility for emerging African American fiction writers and to enable them to focus on their writing by awarding a $10,000 cash prize. Eligible authors should submit a work of fiction, such as a novel or short story collection, published in the calendar year.Deadline: Annually; 2016 deadline has not yet been announced.10. PEN/Faulkner Award for FictionHonoring the best work of fiction published by an American author in a single calendar year, this award has been given to the likes of John Updike, Philip Roth and Ann Patchett.The winner receives $15,000 and an invitation to read at the award ceremony in Washington, DC. Four finalists also each receive a $5,000 award.Deadline: Annually on October 31 for books published that calendar year.$5,000 for Your History Paper!Enter your essay to win the Prize!ReadReadPioneer Institute is pleased to announce the third annual Frederick Douglass Prize Essay Contest for Massachusetts high school students. Pioneer Institute is a private, non-partisan public policy think tank with a longstanding reputation for innovative education reformWe believe that Massachusetts students are capable of excellence in history. We need your essays to prove us right.2015-16 ESSAY TOPICThe Frederick Douglass Prize asks students to respond to key questions in history. The 2015-16 contest encourages students to investigate the stories behind the many technological innovations born in Massachusetts. Choose from dozens of Bay State entrepreneurs and inventions, and develop a clearly organized and well-researched essay drawing on primary and secondary sources, that explains the greater historical impact and significance of your subject matter.TEACHERS, TAKE ADVANTAGE OF THIS OPPORTUNITY!The Frederick Douglass Prize is an excellent opportunity for your students to demonstrate their strong research and writing skills before college applications begin and to meet some very remarkable people.SAMPLE TOPICS AND IDEASThe innovative spirit that has animated America is particularly evident here in the Bay State. The colonists established themselves as a center of global maritime trade, and in 1795 Massachusetts businessmen built the country’s first railroad on Beacon Hill. Sample topics drawn from 20th and 21st century Massachusetts inventions include:The Sewing Machine: Elias Howe, born in 1819 in Spencer, developed, the nation’s first patented sewing machine, which still contain three key features that he designed: the needle, operational lock stitch, and automatic thread feed.New York’s Underground Subway: Alfred Beach, born in Springfield in 1826, invented the Beach Pneumatic Transit system to alleviate traffic.Campbell’s Condensed Soup: Dr. John T. Dorrance discovered how to condense soup without sacrificing its rich taste. His invention allowed Campbell’s to save large amounts of money on shipping. One of his five original flavors became the kitchen staple “Campbell’s Tomato Soup.”The Gillette Disposable Razor (1904): William E. Nickerson, a MIT-trained engineer, helped King Camp Gillette discover how to stamp a razor blade from an inexpensive steel sheet.The Computer: In 1928, MIT professor Vannevar Bush engineered the first manually mechanically operated analog computer, capable of solving differential equations with up to 18 independent variables. In 1951, other MIT researchers built the first computer that operated in real time, and it was used by the U.S. Navy during the Cold War.MORE INFORMATION:+ -FREDERICK DOUGLASSWhy is this contest named for Frederick Douglass?Frederick Douglass (1818-1895)Frederick Douglass fled to Massachusetts after he escaped from slavery. He lived in New Bedford and Nantucket. He became one of the most important Abolitionists and one of the most important figures in American history because he was an advocate and articulator of American freedom. Douglass’ 1845 autobiography, Narrative of the Life of Frederick Douglass, an American Slave, became a bestseller.Douglass’ oratorical skills were so impressive that some doubted that he had been a slave, so he wrote Narrative of the Life of Frederick Douglass. During the Civil War he assisted in the recruiting of African-American men for the 54th and 55th Massachusetts Regiments and fought for the emancipation of slaves. After the war he worked to protect the rights of the freemen. He was secretary of the Santo Domingo Commission, marshall and recorder of deeds of the District of Columbia, and United States Minister to Haiti. His other autobiographical works are My Bondage And My Freedom and Life And Times Of Frederick Douglass, published in 1855 and 1881, respectively. He died in 1895.Nothing speaks to the dehumanizing impact of slavery and the accompanying deprivations than a human being not knowing their own birthday. His several autobiographies begin with this question about this basic fact of his life: “I was born in Tuckahoe, near Hillsborough, and about twelve miles from Easton, in Talbot county, Maryland. I have no accurate knowledge of my age, never having seen any authentic record containing it.”Frederick Douglass was one of America’s great articulators of the meaning of freedom, and the importance of understanding our past. That’s why our U.S. History essay contest is named in honor of him.+ -PRIZESPRIZESWe will recognize the top essays as follows:1st place: $5,0002nd place: $2,0003rd place: $1,000Honorable Mentions: $500 eachSchool Prize: The 1st place winner’s school will receive $1,000+ -SHOULD I ENTER?Entrants must be US citizens or resident aliens who attend a Massachusetts high school during the 2015-2016 academic year. Students who attend a boarding school in Massachusetts or are home-schooled are eligible to submit an essay. If you are interested in this year’s question and have strong writing skills, we encourage you to submit your essay.+ -PRIZE SCHEDULEMarch 7, 2016: Submission Deadline. Submit your essay through the form below.+ -CRITERIAArgument/Analysis (40%)Articulates a clear thesis supported by evidence in the essay.Uses strong textual evidence.Shows detailed analysis and interpretation.Historical Research (40%)Conducts research beyond assigned texts.Provides accurate historical information.Demonstrates a strong understanding of the historical context.Writing Quality (20%)Correct GrammarClear StructureVoice and ToneProper Citations (MLA or footnotes)If you have questions on how to develop a strong thesis, to present convincing research, and to format your bibliography, we encourage you to consult A Pocket Guide to Writing in History.+ -QUESTIONS? Micaela DawsonThe Frederick Douglass Prize Essay Contest CoordinatorPioneer Institute185 Devonshire Street, Boston MA [email protected](617) 723-2277 ext. 203High School Contests - HomeworkSpot.comWritingAmericanism Essay ContestAnnual contest offered to students in grades 7-12, with a grand prize of $5,000.American Fire Sprinkler Association National Scholarship Essay ContestTen $2,000 scholarships will be awarded to select students who read a 3,000 word sprinkler essay and complete the exam that follows. For each correct answer, the student will be reentered into the competition.Ayn Rand Institute Essay ContestContest open to middle schoolers, high schoolers and college students to write an Ayn Rand-themed essay for cash prizes.Cassini Scientist for a Day Essay Contest Students grades 5 to 12 write an essay of up to 500 words, with winning schools invited to participate in a teleconference with Cassini scientists.Carnegie Council's International Student/Teacher Essay ContestThis essay contest is open to teachers and students anywhere in the world. The essay should be written in op-ed style, length 1,000 to 1,500 words. First prize is a $250 Amazon gift card, second prize is a $150 Amazon gift card, and third prize is a $75 Amazon gift card.Civil Rights Today Essay ContestIn honor of the 50th anniversary of President Lyndon Johnson's signing of the Civil Rights Act of 1964, The LBJ Foundation is hosting an essay contest that is open to all 12th grade students in Texas. First prize is $2,500 and a trip to the LBJ Library in Austin, Texas, in April 2014 to attend the Civil Rights Summit. There is also a second prize of $1,000, and a $1,000 cash prize and a trip to Austin to attend the Civil Rights Summit for the first place winner's sponsoring teacher.First Freedom Student CompetitionStudents grades K-12 participate in a national essay and video contest. Students compete for $2,500.The Holocaust Remembrance ProjectNational essay contest open to high school students in the United States and Mexico, designed to encourage and promote the study of the Holocaust. Contestants compete for scholarships and a trip to Washington, D.C.The Humanist Essay Contest for Young Women and Men of North AmericaContest is open to students residing in the United States or Canada who are enrolled in grades 9-12 to compete for $1,000 and a three-year membership to the American Humanist Association.John F. Kennedy Profile in Courage Essay ContestAnnual competition open to high school students nationwide to write an original essay about an elected official who has demonstrated political courage to receive awards totaling up to $10,000.Making Democracy Work Student Essay ContestPresented by the United States Capitol Historical Society, this writing contest asks high school students to write between 800 and 1,200 words on the rights and responsibilities of citizenship to compete for $1,000 and a trip to Washington, D.C. Additionally, a classroom grant of $1,000 plus a selection of teaching materials will be presented to the school of the first place winner. Second- and third-place prizes are $500 and $250, respectively.National Peace Essay ContestAnnual essay contest sponsored by the U.S. Institute of Peace, open to high school students to write a peace-themed essay for cash prizes.Scholastic Art & Writing AwardsStudents grades 7-12 submit their best works of visual art - including sculpture, painting, ceramics, photography, animation, video and animation - and writing - including poetry, play scripts, personal essay, works of journalism, satire and short fiction - to compete for scholarships.Society of Professional Journalists Essay ContestContest open to high school students nationwide to write an essay on a given media-related topic, with winners receiving scholarship awards ranging from $300-$1,000.Signet Classics Student Scholarship Essay ContestEach year, a new book is chosen for students to read and write about. High school juniors or seniors or home-schooled students between the ages of 16-18 are eligible to compete to win a $1,000 scholarship.Voice of Democracy Audio Essay ContestHigh school students compose an audio-essay on a theme selected by the U.S. Veterans of Foreign Wars to compete for more than $3 million in scholarships.Math and ScienceThe American Mathematics CompetitionsVarious math competitions open to qualifying students of all grade levels.Team America Rocketry ChallengeStudents in grades 7-12 can register as a team to design and build a safe and stable one-stage model rocket. Prizes include $60,000 in cash and scholarships and participation in NASA's advanced rocketry program Student Launch Initiative.NASA Space Settlement ContestInternational contest open to 6th-12th graders (11-18 years old). Students compete in teams to develop space settlement designs and related materials for various prizes.Spirit of Innovation ChallengeAnnual competition from the Conrad Foundation that invites high school students to work in teams using science, technology, engineering and math skills to develop innovative products to help solve global and local problems while supporting global sustainability. The prize is $10,000 and a trip to the Innovation Summit at NASA Johnson Space Center to present to a panel of expert judges.Artistic ExpressionGlobal Citizen Corps Contests focused on art, photography, video games and more.Web-basedGlobal Virtual Classroom Contest Global team cooperation and Website-building activity for students from 7 to 18 years of age. Awards range from $1,500 to $375 per team.ThinkQuest Website Competition Teams create an original website on a topic of global importance for a student audience. Prizes include a trip to ThinkQuest Live in San Francisco, laptop computers, digital cameras and school monetary grants.International Schools CyberFairStudents ages 5-19 years old conduct research about their local communities, then publish their findings on the Web for various prizes and awards.Doors to DiplomacyU. S. Department of State "Doors to Diplomacy" educational challenge to encourage middle school and high school students to produce Web projects that teach others about the importance of international affairs and diplomacy. Students on winning team receive a $2,000 scholarship, and the winning coaches' schools each receive a $500 cash award.Other Fun ContestsGloria Barron Prize for Young HeroesStudents ages 8-18 must be nominated by a qualifying adult for their leadership and courage in developing and implementing an exceptional service project. Ten students will be chosen to win $2,500 to be applied to their higher education or service project.The Institute for Global Environmental StrategiesArt, photo and other project-based contests open to students of all ages.National History Day Contest Students in grades 6-12 engage in discovery and interpretation of historical topics related to an annual theme. Awards range from $250 to $1,000, in addition to other prizes.National High School Chef of the YearHigh school students submit an original creation recipe to compete for tuition scholarship prizes to JWU culinary school.Essay Contest Scholarships - 2016 2017 USAScholarships.com“We the Students Scholarship” Essay Contestby Scholarship Advisor onDecember 15, 2016in Contest, FebruaryDo you want to win one of more than $20,000 in prizes and a trip to Washington, D.C.? Don’t waste your time and apply today. You can win cash just by register yourself for “We the Students Essay Contest”. The contest is open to students who are no older than 19 and no younger than […]Continue ReadingYoung Patriots Essay Contestby Scholarship Advisor onDecember 13, 2016in Contest, JanuaryThe National Center for Policy Analysis and Debate Central are happy to announce the 2016-2017 Young Patriots Essay Contest. The essay contest is sponsored by Copart, the premier destination for quality vehicles. The Young Patriots Essay Contest is designed to challenge middle and high school students to creatively engage with public policy and current events through […]Continue ReadingThe National WWII Museum Essay Contestby Scholarship Advisor onNovember 26, 2016in Any Subject, Contest, December, High School Students, ScholarshipsThe National WWII Museum is pleased to announce High School Essay Contest and Middle School Essay Contest. To commemorate the life, courage and achievements of Elie Wiesel, the National WWII Museum is asking middle and high school students to respond to a quote by Wiesel about his life and legacy. Winning essays will be posted […]Continue ReadingSharps Compliance Inc. Scholarship Essay Contestby Scholarship Advisor onNovember 24, 2016in Any Subject, Contest, December, Scholarships by Major, Social and Health Care Programs, UndergraduateSharps Compliance Inc. is now accepting the application for its Scholarship Essay Contest. Sharps’ essay contest is open to all students who have been accepted to or are currently enrolled in an accredited university in healthcare related studies. Sharps Compliance strives to innovate new services that are regulatory compliant and environmentally sensitive. They will be […]Continue ReadingThe Queen’s Commonwealth Essay Competitionby Scholarship Advisor onNovember 23, 2016in Contest, International Students, MayThe Royal Commonwealth Society has launched “The Queen’s Commonwealth Essay Competition 2017”, focusing on the topic of “A Commonwealth for Peace”. The competition is open to all citizens and residents of the Commonwealth aged 18 and under. This year’s topics ask for a more active understanding of the role of the Commonwealth as a network […]Continue ReadingQuitDay.Org Scholarship Contestby Scholarship Advisor onNovember 18, 2016in Contest, Graduate, March, ScholarshipsQuitDay.org — Vaping News, Reviews, and Much More! is currently accepting scholarship applications. QuitDay.org — Vaping News, Reviews, and Much More! awards $3,000 in scholarships each year to students who share their vision for a smoke-free world. With the QuitDay.org — Vaping News, Reviews, and Much More! Scholarship, they want to challenge current and prospective college students to share their story on how we can make the world smoke-free. The winning applicants for first, second and third place receive scholarships in the amounts of […]Continue ReadingTOPSS Competition for High School Psychology Studentsby Scholarship Advisor onNovember 12, 2016in Contest, MarchThe APA Teachers of Psychology in Secondary Schools (TOPSS) is pleased to announce the 2017 APA TOPSS Competition for High School Psychology Students. To be entering in scholarship contest, the candidates should submit an essay that provides information concerning physical, psychological and social factors that influence the aging process. Four winners will be selected for […]Continue ReadingThe Washington State Law Enforcement Association Essay Contestby Scholarship Advisor onNovember 12, 2016in Contest, FebruaryThe 23rd annual 8th grade Washington State Law Enforcement Association Essay Contest is kicking off. The basic goals of WSLEA are to improve the effectiveness and professionalism of law enforcement in Washington State and to implement or support a wide range of community related programs and services. WSLEA encourages all schools to participate and stimulate […]Continue ReadingInvensis Young Thinker Scholarship Essay Awardby Scholarship Advisor onNovember 7, 2016in Contest, NovemberInvensis Technologies Pvt Ltd is pleased to honor the launch of the ‘Invensis Young Thinker Scholarship Essay Award’. The award is a unique opportunity for students in USA, UK, and Australia to showcase their knowledge and skills in the form of an insightful essay and win laurels for their efforts. Through the award, they like […]Continue ReadingThe Center for Alcohol Policy’s National Essay Contestby Scholarship Advisor onOctober 19, 2016in Contest, DecemberThe Center for Alcohol Policy is sponsoring its “Ninth Annual Essay Contest” to all persons who are over the age of 18 as of December. Students, academics, practicing attorneys, policymakers and members of the general public are encouraged to submit essays. The contest is intended to foster debate, analysis and examination of state alcohol regulation. […]Continue ReadingCustom-Writing.org Essay Writing Contestby Scholarship Advisor onOctober 15, 2016in Contest, DecemberCustom Writing Service | Sale Now On: -20% Off | FREE Quality Check! is pleased to announce Essay Writing Contest to the most vivid, versatile, and talented writers. Any student, regardless of academic level and location of studies, can participate. The Essay Writing Contest is not only about finding people who can write well. Indeed, the aim of the contest is to identify individuals who have both […]Continue ReadingThe PIABA Dubin Scholarship Contestby Scholarship Advisor onSeptember 8, 2016in Contest, Law, SeptemberThe PIABA Foundation is sponsoring Dubin Scholarship Contest for students interested in Securities Arbitration and Securities Law. The purpose of the competition is to promote greater interest in understanding of the fields of securities arbitration, securities law and to encourage excellent legal writing skills in law students. Three winners will be selected and they will […]Continue ReadingNaval Institute’s General Prize Essay Contestby Scholarship Advisor onSeptember 5, 2016in Contest, DecemberThe General Prize Essay Contest invites you to “dare to write in order to advance the professional, literary, and scientific understanding of sea power and other issues critical to national defense.” The contest is open to all persons eligible for membership (including those already members) in the Institute. The winning candidates will obtain one-year memberships […]Continue ReadingSCEA Unity in Education Essay Contestby Scholarship Advisor onSeptember 3, 2016in Contest, FebruaryThe South Carolina Education Association encourages students across the state to join their historic 50 Year Anniversary & Celebration by taking part in their FIRST EVER “Unity in Education” Essay Contest. SCEA is the professional association for educators in South Carolina. The contest is open to middle school/intermediate, high school & college students. Essays will […]Continue ReadingGRHS Youth Essay Contestby Scholarship Advisor onAugust 19, 2016in Contest, International Students, MarchAn International GRHS Essay Contest is sponsored by the Germans from Russia Heritage Society. The contest is intended to encourage students from around the world to learn about the history and culture of the German-Russians, people who emigrated from Germany into Russia during the 18th and 19th centuries. Winning contestants will be invited to receive […]Continue ReadingBaxter Family Competition on Federalismby Scholarship Advisor onAugust 16, 2016in Contest, International Students, SeptemberMcGill University’s Faculty of Law and the Peter MacKell Chair in Federalism are proud to announce the creation of the Baxter Family Competition on Federalism. The overarching goal of this prestigious bi‐annual essay competition is to advance research and foster informed debate on federalism by law students, as well as law Ph.D. candidates, junior legal […]Continue ReadingAEL Collegiate Essay Contestby Scholarship Advisor onAugust 11, 2016in August, ContestHave an opinion on United States Political Affairs? Want to share your thoughts for a chance at up to $2500? Enter in Americanism Educational Leaders Collegiate Essay Contest as it is a perfect opportunity for undergraduate students to express their equally strong belief in American exceptionalism. The essay contest is sponsored by The Americanism Educational […]Continue ReadingAyn Rand Institute Essay Contestby Scholarship Advisor onAugust 11, 2016in Contest, International Students, MarchHave you read one of Ayn Rand’s thought-provoking novels? Now’s the time! Enter in Ayn Rand Institute Essay Contest for your chance to win thousands of dollars in cash prizes. The contest is open to worldwide for 8th, 9th or 10th-grade students. ARI has held worldwide essay contests for students on Ayn Rand’s fiction for […]Continue ReadingBrian Zeiger College Scholarship Essay Contestby Scholarship Advisor onJuly 18, 2016in Contest, OctoberAt Brian Zeiger LLC, they understands the rising cost of higher education has become increasingly more difficult to manage, and student loan debt is at an all-time high that’s why in an effort to help students meet their financial needs, The Zeiger Firm is pleased to offer Essay Contest for currently enrolled students in an […]Continue ReadingGagne Scherer & Associates LLC Scholarshipby Scholarship Advisor onJuly 2, 2016in Any Subject, Contest, July, Scholarships, Scholarships by MajorThe military trial lawyers of Gagne, Scherer & Associates, LLC believe that a quality education is one of the most valuable assets for young students today. For this reason, they are pleased to announce scholarship program to the students who plan on pursuing a course of study at a college or university for the school […]Continue Reading