All the doom sayers should end their dire bad times ahead warning.
The USA is not ending trade, it is negotiating with every country interested in trading with the USA. Global Trade Agreements are silly and hideous; they lump countries together and it serves the least purposeful trade possible while Wall Street walks away with everything.
Every country is different. Their cultures are different and their economic structure and infrastructure are different. The best for each country is to learn the strength they have in trade and open talks to have trade flow both ways. I don't buy the idea China is walking away with the Pacific. That is nonsense.
The Mexican President is already asking the Pacific countries for trade deals. That is the way it is supposed to be.
23.01.17
Mexico City — The White House confirmed (click here) earlier on Monday that US President Donald Trump had signed an executive order starting the withdrawal from the Trans-Pacific Partnership (TPP) free trade agreement.
"Mexico will immediately start talks that would lead to bilateral agreements [with TPP signatories]," Nieto said.
The TPP free trade deal, covering 40 percent of the global economy, was signed last February by Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States....
Pence has no right to gloat. October 4, 2016
By Gary Shapiro
...As a congressman, (click here) Pence voted to support every trade deal that he was asked to consider. As governor, Pence wrote the following to the Indiana Congressional delegation:
“I encourage your support for Trade Promotion Authority, the Trans-Pacific Partnership, the Trans-Atlantic Trade and Investment Partnership and any other trade-related measures when they are brought before the Congress for consideration.”...
The way it is suppose to work is that a president goes to another country agreeing on good relations. There should not be lobbyists in tow or prearranged
Wall Street contracts. The way it used to work is for a foreign country to begin science and cultural exchanges. I am sure China and Russia remember those days. But, what grows out of such GOOD WILL are potentials for each country to expand the sale of goods they already produce.
What also comes out of such presidential trips and/or state dinners are agreements to limit any hostilities AS WELL AS commercial trade. The trade between the two countries should not begin with Wall Street and lobbyists, it should begin WITH REAL FRIENDSHIPS AND RELATIONS. Peace before war and exchange of current goods without outsourcing American jobs.
Does that sound in the least realistic? It was and it should be. Good relations, calm diplomatic missions and the OPPORTUNITY for foreign countries to invite American businesses to BUILD jobs in their country that will improve THE QUALITY OF LIFE of the people that would be their employees, INCLUDING GOOD WAGES so the employees can buy the products as well as manufacturer them.
January 23, 2017By Ylan Q. Mui
President Trump (click here) began recasting America’s role in the global economy Monday, canceling an agreement for a sweeping trade deal with Asia that he once called a “potential disaster.”
Trump signed the executive order formally ending the United States’ participation in the Trans-Pacific Partnership in the Oval Office after discussing American manufacturing with business leaders in the Roosevelt Room. The order was largely symbolic — the deal was already essentially dead in Congress — but served to signal that Trump’s tough talk on trade during the campaign will carry over to his new administration.
Trump did not directly address the North American Free Trade Agreement on Monday as he had promised during the election. However, he repeated his threat to punish U.S. companies that build factories overseas and ship products back home — a charge he has primarily leveled at automakers with operations in Mexico. And his hard-line opening stance could portend a contentious renegotiation of the 22-year-old deal with Mexico and Canada that Trump’s senior advisers have called a top priority for the new administration.
“This abrupt action so early in the Trump administration puts the world on notice that all of America's traditional economic and political alliances are now open to reassessment and renegotiation,” said Eswar Prasad, trade policy professor at Cornell University. “This could have an adverse long-run impact on the ability of the U.S. to maintain its influence and leadership in world economic and political affairs.”...
The One China Global Trade Arrangements are over !!!!!
The Chinese wanted to monopolize the manufacturing sector in the world. Sure, if Wall Street and the global economy actually worked that way, but, it doesn't.
China invested a great deal in ports and cranes around the world, but, it never stopped to realize it had to import as well as export. China did it "The Wall Street" way and without a clear understanding of what the priorities of trade would be. China did not treat it's people with respect, it bent a knee to oligarchs.
The American people look at their counter part in other countries and no matter how long China has monopolized the manufacturing sector, the people of China have not improved their status for the most part. There is an emerging Middle Class in China, but, that should have been China's priority from the beginning. I don't know if China was played for a fool in allowing Wall Street to walk all over it and the world in general or if China was THAT RUTHLESS. I think not. I think China, in the beginning of it's capitalism, received bad advice. China was exploited rather than DEVELOPED.
It was always curious as to China's official visits to the USA with shunned leadership and incomplete diplomatic missions. Let's just say, "China wasn't invited to dinner."
Why? China was doing exactly what was expected of it, so why the cold shoulder?
Oh, human rights abuses. Is that it? How many human rights abuses in China occurred because of the oligarchs of greed and Wall Street profits. Who in China has actually been responsible for the human rights abuses, China or it's trading partners?
But, the relationship with Chinese workers extends back a long time and they weren't treated with respect then. So maybe the real exploitation of the Chinese people belongs to Americans.
Hapless and helpless, that was the beginning of the financial empires back in the day. Minorities, children and the poor were all fair game for the hardest, dirtiest and most dangerous jobs in the country.
So, if the USA is to have a conscience and returns good pay to the American Middle Class, that is good for everyone.
See when Americans make good money, they have confidence in the world they live, they purchase goods made domestically and abroad. And those items purchased in the USA but made in places like China or Brunei brings good purchase prices because they are MADE WELL, not because they are cheap and will fall apart in six months, only to be purchased again on Black Friday for gifts for Christmas that will fall apart in six months.
Good quality products, fair prices, well paid workers and growing middle class in every country the USA touches. THAT IS THE AMERICAN WAY and not the Wall Street way.
Oh, yeah, as to quality of life of the people; there is also areas of quality of life that must end and be proven to end such as child labor and pollution. Some of the best news I ever heard out of China came in February 2016.
February 29, 2016
China will lay off about 1.8 million steel and coal workers (click here) as President Xi Jinping drives efforts to cut the country’s industrial overcapacity and reform it’s bloated state-run enterprises.
About 1.3 million workers in the coal industry and 500,000 in steel will be cut, Yin Weimin, human resources and social security minister, said Monday, according to a transcript posted on the government’s website. The employees would be reallocated, Yin said, without providing further details.
The world’s largest steel and coal producer is seeking to ease a glut of industrial capacity as its economy shifts toward consumer-led growth and as it tries to curb pollution. The government has set up a 100 billion yuan ($15.3 billion) fund to be spent over two years to help companies resettle workers cut during restructuring....
China came of age and realized it was foolish all these decades to entertain the wealthy at the expense of it's poor. China finally came to terms with the reality that being a world class power means having moral and ethical treatment for it's own people.
