The First Shots of the Trade War (tags)
With the G-20 summit approaching, cheerful talk of “international cooperation” fills the White House press-room. These comments carry with them the implication that “free trade” is integral to “cooperation,” a fact made explicit in the last meeting of the G-20. There, in the name of “united action,” world leaders agreed not to install any new protectionist measures. Since then, protectionist measures have flourished. Instead of global cooperation we have its opposite: international tensions are on the rise as trade disputes sharpen.
Will Obama Start the Next Trade War? (tags)
While campaigning to be president, Obama gave the general impression that he would act “cooperatively” to solve international problems, moving away from the Bush strategy of irresponsible “unilateralism.” But Obama took an aggressive stance towards China even on the campaign trail, including the accusations of “currency manipulation,” “violating intellectual property rights,” and “devaluing their goods.” Of course, the average American cares nothing about these types of crimes, nor should they.