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America's Collapsing Trade Initiatives

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Chinese president Xi Jinping will be in Washington this week on an official state visit. President Obama had hoped to impress Xi with an all but sealed trade deal with major Pacific nations called the Trans-Pacific Partnership (TPP) to demonstrate that America is still a force to be reckoned with in China's backyard.

But Obama's trade policy is in tatters. The grand design, created by Obama's old friend and former Wall Street deal-maker, trade chief Mike Froman, comes in two parts -- a grand bargain with Pacific nations aimed at building a U.S.-led trading bloc to contain the influence of China, and an Atlantic agreement to cement economic relations with the European Union.

Both are on the verge of collapse from their own contradictory goals and incoherent logic.

Read the rest of the story HERE:

At www.commondreams.org

 

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)
 

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