We now see reports that any trade reforms around NAFTA will be delayed by an Obama administration, due to the Economy.
After he becomes president in January, Obama will order a study on the world's largest trade agreement, then seek longer- term negotiations with Mexico and Canada on how to change it, according to three advisers, who spoke on condition that they not be identified. The recession, the collapsing auto industry, a record trade deficit with China and other issues are pushing Nafta aside, analysts and industry representatives said.
Here's some good news. According to Public Citizen, the American now has 30 more Representatives on renegotiating and reforming United States trade policy. We picked up 26 fair trade representatives in the House and 4 in the Senate.
Oh yeah, the too close to call races, some of them ran on reforming trade in working America's and the national interest.
Here's a headline that hasn't been written in several centuries: an international flotilla of warships is converging to battle piracy.
U.S. warships watched a hijacked vessel laden with tanks while other gunboats patrolled the dangerous waters off Somalia, but pirates still seized another freighter this week — and now hold about a dozen despite the international effort to protect a major shipping lane.
Military vessels from 10 nations are now converging on the world's most dangerous waters, but analysts and a Somali government official say the campaign won't halt piracy unless it also confronts with the quagmire that is Somalia.
Look what's coming out, a star packed movie on the Seattle 1999 WTO protests...just in time for the 2008 election!
Here is the film, Battle in Seattlewebsite which has timeline, interviews, history and request the film be shown in your area.
This is great!
I cannot think of any particular economic area more than trade, where pretty much the entire nation agrees. America and Americans are getting screwed. Blue, Read, Pink and Green, most people want major trade policy reforms. Trade policy has been orphaned by both campaigns (doing anything in workers interests or America's interests about trade that is) as if just describing how the middle class is disappearing and working America is in dire straights is actually enough to get them to vote for (flip a coin now) fill in the blank.
Speaking of China, look at what CBS Market Watch is reporting:
China is forecast to surpass the United States as the world's leading manufacturer in nominal dollar terms next year, earlier than expected, as the U.S. economy slows down and China's continues to grow at unprecedented rates, according to consulting firm Global Insight.
They have just released a study that is so damning, it really deserves a full bore blog post. For now, some snippets:
The growth of U.S. trade with China since China entered the World Trade Organization in 2001 has had a devastating effect on U.S. workers and the domestic economy. Between 2001 and 2007 2.3 million jobs were lost or displaced, including 366,000 in 2007 alone. New demographic research shows that, even when re-employed in non-traded industries, the 2.3 million workers displaced by the increase in China trade deficits in this period have lost an average $8,146 per worker/year. In 2007, these losses totaled $19.4 billion
and it goes into details, but here is something I think should raise all eyebrows!
China violates global trade rules by requiring automakers operating there to buy components from local suppliers or face penalties, the World Trade Organization ruled on Friday.
Skip to next paragraph
The decision, issued in Geneva on a complaint brought by the European Union, the United States and Canada, is the first time China has lost a case since it joined the global trade arbiter in 2001
Note this is the first time China has lost.
Now read the last line in the article:
In April 2005, China began a system of levying tariffs on auto parts based on the amount of imports in the complete vehicle. Automakers must register with Chinese authorities and provide detailed information on the quantity and value of foreign parts used in their vehicles.
Associated Press has a nice short
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