Econ 101: October 12, 2011

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • By a 63–35 vote yesterday, the Senate approved a bill that would “impose tough tariffs on certain Chinese goods in the event of a finding by the Treasury that China was improperly valuing its currency.” [New York Times]
  • A new analysis by HSBC finds that by 2025, China will “overtake the United States as the world’s top exporting nation.” [McClatchy]
  • Slovakia’s government collapsed yesterday “after a divided parliament voted against endorsing changes to the European Financial Stability Facility” that would give the fund more power to bail out banks. [Wall Street Journal]
  • The G20 will meet this week hoping “to find an urgent solution to [Europe’s] debt crisis.” [Reuters]
  • Economist Mark Zandi said that there’s “a 40 percent chance of a double-dip recession even if Democrats and Republicans come together to pass a jobs bill.” [The Hill]
  • Regulators yesterday released a draft version of the Volcker Rule, which would “restrict how big financial firms can trade securities and invest in hedge funds for their own benefit.” [Wall Street Journal]
  • President Obama’s jobs plan failed to escape a filibuster yesterday “as a unified Republican caucus and a pair of Democrats joined to deny the proposal the 60 votes needed to allow it to proceed to full consideration.” [Washington Post]
  • The fiscal super-committee working on a budget deal has “been slowed down by an intense debate over the basic question of how to count the savings from any potential deficit-reduction deal.” [The Hill]