“We have to make sure America writes the rules of the global economy and we should do it today while our economy is in a position of global strength. If we don’t write the rules for trade around the world, guess what, China will. And they’ll write those rules in a way that gives Chinese workers and Chinese businesses the upper hand.”
— Barack Obama on the Trans-Pacific Partnership in a Speech at Nike Factory in Oregon, May 8, 2015
Those very few words of Obama’s, his most widely circulated PR effort to garner support for the TPP (Trans Pacific Partnership) and thoroughly representative of the thinking of our imperial elite, are so revealing, so wrong and so dangerous on so many levels that one scarcely knows where to begin. In fact they carry the seeds of our destruction. And they are focused on China.
First, the arrogance and hegemonic intent of the statement is astonishing even though it has become routine for the U.S. elite. What gives the United States, a country of 300 million on the opposite side of the vast Pacific, the right to determine the rules of trade for East Asia, which includes China, a country of 1.3 billion people? The U.S. can no longer assert that privilege based on its economic power since its gross GDP, measured in Purchasing Power Parity is now, according to the IMF, second to China’s.
Clear evidence of the relative power of the Chinese and American economies was the world’s reaction to China’s launch of the badly needed Asian Infrastructure Investment Bank (AIIB) to provide development funds for Asia and beyond. The level of funding necessary for such development has long been denied by the U.S.- dominated World Bank and IMF. U.S. allies, even the UK and Israel, stumbled over one another to join the AIIB, despite the bullying of the U.S. to stop them, leaving the U.S. and its cat’s paw in East Asia, Japan, out in the cold. More amazingly, the U.S. thinks it can write the rules of trade for China and East Asia! Given the new economic realities, that day is past. Indeed, Obama, perhaps unwittingly in his desperation to sell the measure by frightening us into acceptance of it, acknowledges this fact. What else can he mean when he says, “we should do it (pass TPP) today while our economy is in a position of global strength.” What is he saying implicitly about the situation tomorrow?