Posts Tagged ‘world trade organisation’

Barack Obama has told tales. So fed up is he with China and its trade policies that he has told teacher, or the World Trade Organisation.
He said: “Today, my administration is launching new action against China – this one against illegal subsidies that encourage companies to ship auto-parts manufacturing jobs overseas….Those subsidies directly harm working men and women on the assembly line in Ohio and Michigan and across the Midwest. It’s not right; it’s against the rules; and we will not let it stand.”

And then he stuck his tongue out.

But sitting next to him in class was a jeering Mitt Romney.

“President Obama has spent 43 months failing to confront China’s unfair trade practices,” said the man who hopes to be the next US president. He added: “I will not wait until the last months of my presidency to stand up to China, or do so only when votes are at stake. From Day One, I will pursue a comprehensive strategy to confront China’s unfair trade practices and ensure a level playing field where our businesses can compete and win.”

And he then stuck his tongue out at Obama.

China is used to it. When election season comes round, it knows that the boys and girls who want to live in the White House can gain lots of playground support through China bashing. And boasting about how they are going to do it.

It is just that the US is being a tad hypocritical; after all its own trade policies are not exactly the paragon of fairness.

A reaction against free trade remains one of the single biggest risks to the global economy. After all, the last Depression led to protectionism, followed by something else. What was that now? Oh yes, that’s right, World War 2.

For as long as it’s just talk, the anti-China rhetoric may not matter, but one of these days the US will have a president who actually carries out his pre-election promises. That will be a great day for democracy, and an awful day for world peace.