Category Archives: Globalization

Pepe Escobar: Why American Worries about “Containing China” Are Off the Mark

Yves here. As China has become more powerful economically, and is building up its navy (a substantial navy is a precondition of being a true superpower), some pundits have taken to anticipating a world where US cedes dominance to China over a protracted and likely unstable transition period, using the decline of the British Empire and the rise of American influence as a guide.

That’s unlikely to be the right frame of reference.

Sherrod Brown Wimps Out on Secret Trade Negotiations In USTR Vote; Elizabeth Warren Takes Risk in Bucking Obama

Has Sherrod Brown started to follow Obama’s lead in the bait and switch category? Elizabeth Warren showed a lot more spine than he did in an trade-related vote on Wednesday.

Wolf Richter: One Part Of Japan’s Abenomics Salvation Is Already A Fail

Japan’s attack in the Currency War was supposed to make it more competitive in international trade – but that, it failed to do. In fact, the opposite occurred.

More Obama Administration Secrecy: Rep. Grayson Can’t Discuss Classified Trans-Pacific Partnership Draft

OK, you remaining Obama fans: tell me why we should trust the biggest baiter and switcher in the history of the Presidency, particularly when he insists on unprecedented levels of secrecy? Because he has nice teeth and cute kids?

Wolf Richter: Germany Grapples (Again) With The Choice Between Its Constitution And The Euro

Yves here. The consensus view among experts, despite considerable public opposition in Germany, is that the German Constitutional Court will not upend the Eurozone bailout mechanisms by ruling in favor of challenges to their legality. This confirms the policy issue that Dani Rodrik flagged in 2007: you can’t have national sovereignity, democracy, and deep integration of markets at the same time. You can have at most two of the three. Sadly, Europe looks ready to settle on only one on that list.

China to Build Panama Canal Bypass Through Nicaragua

Yves here. Reader From Mexico often chides readers in comments who like try to depict Argentina and other Latin American states as failures, when the ones who have distanced themselves from American/neoliberal policies have made solid social and economic progress.

This piece highlights a tangible indicator of the wane of US influence in the Americas.

IMF Rethinks Sovereign Defaults, Again

By Delusional Economics, who is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness

Chile’s Recent Lead Negotiator on Trans-Pacific Partnership Warns It Could Be a “Threat to Our Countries”

An important article in the Latin American press peculiarly has not gotten the attention it deserves. Or perhaps not so peculiarly, given the Obama administration’s intention to keep the Trans-Pacific Partnership negotiations as far out of the public eye as possible.

Russia’s Plan For The BRICS To Dismantle The Dollar System

The status of the US dollar as the world reserve currency gives the US tremendous advantages. Among them: it allows the Fed to export inflation, while the Federal Government can run a huge deficit with impunity. But now an angry Russia has had enough!

Japanese Movement Against TPP Growing

By Lambert Strether of Corrente.

This Real News Network video on resistance to the Trans-Pacific Partnership in Japan (one of our military protectorates) explains some implications of TPP for health care policy, but also gives a glimpse of how our post-national global elites would like the nature of the State to change. Of course, the TPP negotiations are secret, which cannot but give the impression that TPP’s advantages are not likely to be readily apparent to the citizens who putatively give sovereign states their legitimacy. So, although US discussions have focused mainly on content and intellectual property issues, it would seem that the powers that be have bigger fish to fry.

Secret “Free Trade” Negotiations Will Gut Regulations, Further Enrich Multinationals and Big Financial Firms

It’s a sign of the times that a reputable economist, Dean Baker, can use the word “corruption” in the headline of an article describing two major trade deals under negotiation and no one bats an eye.

Bundesbank Looks to Undermine Italy

By Delusional Economics, who is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from http://www.macrobusiness.com.au/2013/02/europe-waits-for-italy/“>MacroBusiness.

Another chapter in the Italy political story comes to a close as a government is formed, for how long who knows, but a familiar figure appears to be playing puppet master…