Senators Baucus and Kerry wrote an opinion piece in Politico promoting Russia’s entry into the WTO.
Our respective Senate committees are charged with overseeing the engines of America’s unique role in the world: as global trading partner, the leading democracy and a force for international peace. We clearly see how our global economic interests and our foreign policy values are closely tied — which makes a persuasive case for us to seize the opportunity presented by Russia joining the World Trade Organization this summer.
Look at the analysis. Our role in the world is a “global trading partner”? What does that mean? These guys voted for China PNTR and every trade agreement. They championed those deals. We have trade deficits deepening. Baucus and Kerry are in a position, because of their committees, to champion the cause of neutralizing state capitalism, foreign trade cheating, currency manipulation, etc.
But we need to be a “global trading partner”. It means nothing. But reveals everything in that they just don’t get it. Or they do get it… i.e. contributions from Boeing, Caterpillar, Proctor & Gamble, the import lobby, the retailers lobby. Those are the lobbies that fund lavish dinners at the Trans Pacific Partnership negotiations.
They they say:
“We clearly see how our global economic interests and our foreign policy values are closely tied.”
Their “clear sight” has off shored massive volumes of U.S. industry in return for vague foreign policy relationships. Giving up our industry is the bribe for those relationships. If this was every a good deal, we certainly cannot afford it now. We don’t have more industries to give up.
The proper view is to have a national strategy to balance trade. Being an economic powerhouse is the best thing for foreign policy. Being an economy in decline is the worst thing for foreign policy. The priority must be on reshoring industries we are good at… full supply chain ecosystems… to sell products to our massive consumer market. This is not protectionism, but strategic neutralization of foreign tactics to gain our industries and our market.
If Kerry and Baucus agreed with our multi-organizational 21st Century Trade Agreement Principles, they would be advocating very different policies for America.