The current world order is grossly unfair … historians of an enlightened future may come back to view our times as the dark ages … when humans remain bonded to and oppressed by the hegemony and ideology “markets,” “rule of law,” “freedom” and “democracy”.
The pure hypocrisy of the world is never ending. And here is just one other small case study…
When Trump was voted president last year, I was hopeful that the door for next level of U.S. China cooperation will be opened. I am still hopeful, but when things like this happen, it makes me realize just how hard change can be.
The U.S. and China share many differences that should be smoothed out. Here, I am not talking about garbage talks about “human rights” or “democracy,” or boastful jousts protecting “freedom of navigation” in the S. China Sea. I am talking about straight-forward win-win deals between Chinese and U.S. Companies.
In an earlier post, I had noted that a big part of the “deficit” between China and U.S. is because on the balance, many more U.S. companies invest in China as compared to Chinese companies investing in the U.S. I had written: Continue reading Fair Trade Links→
[An edited copy of this article under the title “America should not blame trade – or its trading partners – for its ills ” is initially published at the South China Morning Post (pdf archive here)]
Bernie Sanders and Donald Trump are leading a new American awakening on global trade. According to the new emerging consensus, America has been the victim of bad trade deals – including the yet-to-be-ratified Trans-Pacific Partnership (TPP) – for decades. These deals have shipped millions of good-paying American jobs abroad and in the process hollowed out the American middle class.
In this short interview, CEO Witty of Glaxo – British multinational pharmaceutical, biologics, vaccines and consumer healthcare company – said that while Chinese government will continue to have a tension between building its domestic industry and fomenting an open competitive market in which foreign companies participates, it does a good job of making its market fair. Most importantly, Witty notes that it’s important to take a long-term view when it comes to China. Glaxo intends to embed its Chinese operations into an integral part of the company. You won’t be that successful if you just take a “tourist” of China, he said. Witty says Glaxo intends to profit as well as to innovate in China.
Last week, the WTO handed China a setback in its ruling over its appeal over export controls (herein the Ruling) covering “[c]rtain forms of bauxite, coke, fluorspar, magnesium, manganese, silicon carbide, silicon metal, yellow phosphorous, and zinc.”
A WTO appeals panel has upheld a ruling against China restricting exports of nine types of raw materials. The ruling, completely unreasonable to Chinese, will threaten China’s resource preservation and environmental protection efforts.
China has generally been following WTO regulations and rulings. But it should find the best balance between applying WTO rules and protecting its national interests. Getting approval from the West is not our top concern.