http://news.bbc.co.uk/1/hi/business/7866900.stm

- Are we seeing a new, protectionist future in global economic patterns, initiated by the current crisis?

My gut reaction is that other countries shouldn't dictate what one country does with it's money, but considering our past that might be a bit hypocritical.

Maybe the EU warnings are right? The catch with economic plans is it's all guesswork, and no one really knows the outcome. I can see where Obama is coming from, I can see where the EU is coming from, and could easily see economics working in both directions.

As for protectionism, seems a bit early to worry about that, although it might be a good thing for certain countries to tend to their own problems once in a while.

Well, it's all hypothetical at this point, IMO. To suggest to the IMF that the US is being unfair to the rest of the world in proposing its own rescue plan seems on the surface a gross arrogance, but I guess when one contemplates the realities that the US is the economic backbone of the world economy, especially in terms of global markets, finance and credit, protectionist measures must in some way have a knock-on effect to the supposed post-Napoleonic theories of Free Trade that have dictated global development for two centuries, and have been promoted by Britain and the US since that time.

But then maybe your latter point is entirely fair - as a temporary, rescue measure: why not?

So many of our trade agreements are currently lopsided in favor of our trade partners, I don't think it's at all unreasonable to try swinging that back our way. Especially right now.

Hopefully, it will eventually settle somewhere in the middle, and actually be fair.

So many of our trade agreements are currently lopsided in favor of our trade partners, I don't think it's at all unreasonable to try swinging that back our way. Especially right now.

Hopefully, it will eventually settle somewhere in the middle, and actually be fair.
I couldn't agree with anything you've ever said any more than this short post.

So many of our trade agreements are currently lopsided in favor of our trade partners, I don't think it's at all unreasonable to try swinging that back our way. Especially right now.

Hopefully, it will eventually settle somewhere in the middle, and actually be fair.

Exactly true, and maybe it's part of our overall problem. The sticking it to the US simply because we're the man in every trade deal is bs.

Free trade means that....not "whatever is good for us and Fudge the US!"

Also on the Free trade is BS bandwagon.

Also on the Free trade is BS bandwagon.

Free Trade might be great. We wouldn't really know. For example, NAFTA is not Free Trade, even though it's often pointed to as an example of Free Trade hurting America.

Much like the bank hate post; at the end of the day our government's responsibility is with the American people, the citizens who vote them into office.

Yes the foreign governments may spends billions of dollars to get them elected with lavish campaigns.

They're not the ones with the torches, pitchforks and rope though.

We're worried about us first, the rest of you bastards after :p And really, that's the way it should be.

They're not the ones with the torches, pitchforks and rope though.



Do I detect dissension in the ranks?

Nope, but you can bet your sweet ass if our congress continues to fuck around like they have for the last 3 years, they're going to be out of a job. They have a chance to look like a pack of rockstars, but instead it looks like they're going to blow it so they can shut out the Republicans.

Yes I get what you're saying, American policy should be to safeguard American economic interests, free trade or protectionism.

But the problem is, if other countries start acting the same way we'll have something akin to the eighteenth century, small mercantilist blocs preventing the freedom of trade which has been a cornerstone of Anglo-American (and everyone else following...) for two centuries. Essentially turning back the clock.

If you take a close look at most current trade agreements, you're going to find that "other countries" already have that sort of arrangement with us. At this point, even Free Trade is relatively protectionist for us.

Yes I get what you're saying, American policy should be to safeguard American economic interests, free trade or protectionism.

But the problem is, if other countries start acting the same way we'll have something akin to the eighteenth century, small mercantilist blocs preventing the freedom of trade which has been a cornerstone of Anglo-American (and everyone else following...) for two centuries. Essentially turning back the clock.


"The continuing wrangles over the Buy American clause come as hundreds of workers at UK power stations continue wildcat strike action in protest at the employment of Italian and Portuguese workers at a Total oil refinery.

Union leaders have denied accusations that the strikers are guilty of xenophobia.

Instead they say the UK workers are unfairly being denied the right to carry out work, because contracts are being awarded to foreign firms who bring in their own staff"


Sounds like a similar situation to that of the banking industry I posted about. Does hiring Americans first also make us protectionist? Shouldn't each country/government look after it's own first?

Shouldn't each country/government look after it's own first?

Yes.

Every country but the United States. Apparently its our mandate as Americans to make sure every man woman and child of every nation but our own is taken care of so they don't go jihad on us and fly more airplanes into Lower Manhattan landmarks.

Our laws allow foreign governments to come in and lobby congress. Why do you think that there are spouses and kids of congressman that suddenly become high paid consultants with no experience in what they are consulting on?

Choose Your Answer

1) Congressional spouses and children are really fast learners and understand global issues better than anyone

2) They work really hard at these consulting jobs and have spent decades studying foreign governments

3) It is a way for a foreign government to pay off a congressman for writing legislation favorable to that foreign government

4) None of the above except #3

So wait, you're glad it's going protectionist, or it always has been?

Because your new President seems to think it's the former:

'Speaking in a series of TV interviews late on Tuesday, President Obama also said he wanted to avoid including anything that might spark a trade war in a planned economic stimulus package.

Mr Obama was responding to EU and Canadian criticism of a "Buy American" clause in the $800bn (£567bn) package, which is being debated in the Senate.

Mr Obama said he did not want the US "to start sending a message that somehow we're just looking after ourselves and not concerned with world trade". '

http://news.bbc.co.uk/1/hi/world/americas/7868824.stm

Nonetheless, this is a good economist blog on the matter -

http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/

That's because he's a Muslim traitor!

Aye, it is true :P

It seems the Senate agrees also :P

http://news.bbc.co.uk/1/hi/business/7871219.stm

I think its time we stop making it more profitable by bending over American workers. For once I wish Congress had our best interest.

Id like to see our trade agreements actually be fair, and to stop sending out billions in aid all the fucking time and use the money to put people to work, rebuilding our infrastructure or fucking picking up trash I don't give a damn what it is.

Oh and stop selling roads paid for by tax payers to other god damn countries. Thank you, that is all.

Aye Chanur, good starting points!

Halo, I'm confused what you're point is. Are you worried that if we go too far to Protectionist we're going to repeat the past? Or are you recognizing that our economy really is the backbone of the world and that we're actually tired of doing it? It seems to be the same point to me; and I agree.

I haven't stated an 'official' point really, more curious as to the reaction here as in "about time! We've been pimping ourselves out for years! There's no protectionism here, and if there is, it's only right!" and then the President and Senate come out against said opinions.

No big surprise on the Senate. The foreign trade lobbies are far more powerful and "generous" than the Senators' blue collar constituents could ever be.