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Trump’s Trade Threats are Really Cold War 2.0
GlobalizationTrump’s trade tantrum is that other countries are simply following the same economic strategy that once made America great, but which neoliberals have destroyed. U.S. negotiators are unwilling to acknowledge that the United States has lost its competitive industrial advantage and become a high-cost rentier economy. Its GDP is “empty,” consisting mainly of the Finance, Insurance and Real Estate (FIRE) rents, profits and capital gains while the nation’s infrastructure decays and its labor is reduced to a part-time “gig” economy.
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NAFTA renewed. Now what?
GlobalizationWas the push to renegotiate NAFTA only about Trump playing to his base? Was Trump reacting to a decline in the American empire? Was it about moving away from multilateral agreements to bilateral ones where U.S. strength weighs heavier? Is the narrowing of options that the renegotiation of NAFTA exposed just about free-trade agreements, or does it point to a more general characteristic of capitalism today?
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Neoliberalism’s Dark Path to Fascism
Economic CrisisNeoliberalism as economic theory was always an absurdity. It had as much validity as past ruling ideologies such as the divine right of kings and fascism’s belief in the Übermensch. None of its vaunted promises were even remotely possible. Concentrating wealth in the hands of a global oligarchic elite—eight families now hold as much wealth as 50 percent of the world’s population—while demolishing government controls and regulations always creates massive income inequality and monopoly power, fuels political extremism and destroys democracy.
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One Key Way NAFTA 2.0 Reinvigorates Canadian Sovereignty
Canadian PoliticsThe federal government should pursue new agreements — as New Zealand has done under the re-born Trans-Pacific Partnership — to drop ISDS. We should respect each other’s democracies and courts and, if some companies have doubts, they have the option to negotiate for ISDS in their government contracts, buy insurance against political risks, or just decline to invest in unreliable countries.
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Review of the Renegotiated NAFTA: Benefits and Drawbacks to Canada
GlobalizationOne can’t help wondering what Tommy Douglas and the CCF-NDP of a previous era would do at a time such as this. In all likelihood, they might assess that because of the elimination of chapter 11 and the energy proportionality rule, this is a somewhat better deal for Canada, but nevertheless, they would advocate that we give a six-month notice and simply get out of our current partial economic straitjacket. Is there any prospect of the NDP ever being revived in the way the British Labour Party under Jeremy Corbyn suddenly became aware of its original socialist roots?
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The Good, the Bad, and the Ugly on NAFTA 2.0
GlobalizationFor many years, the Council of Canadians and others have been writing and advocating to get rid of Chapter 11, the investor-state dispute settlement (ISDS) process. These are the provisions that allow corporations to sue countries over decisions, even if they are made in the public interest. For years, Canada has faced corporate lawsuits that made provinces renounce public auto insurance, accept toxins, and pay for refusing dangerous quarries. Now, at the request of the U.S., there will be no ISDS process between U.S. and Canada.
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Trudeau clings to Chapter 19 in NAFTA, but why?
Canadian PoliticsLet us also remember that the NAFTA talks not only lack transparency and genuine public input, but they are now being rushed, in part, so that they can be concluded under outgoing NAFTA-friendly Mexican president Enrique Peña Nieto, rather than Andrés Manuel López Obrador (who was elected on July 1 and is to be sworn into office on December 1). NAFTA is part of the architecture of corporate rule, the Chapter 19 provision doesn’t change that fundamental truth.
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Trump: The De-Globalizer?
GlobalizationWhat if, considering the motion towards peoples’ new self-determination, Trump’s amok run, his jumping from chaos to more chaos, to the sanction game no end – punishing, or threatening friends and foes alike, will lead to a genuine de-globalization of the world? If this were to happen then, we the 90% of the globe’s population, should be very grateful to Mr. Trump who has shown and created the path to enlightening – the enlightening of de-globalization.
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Trump’s Phony Trade War
GlobalizationSo what’s all the talk about a Trump ‘trade war’? Is it media hype? Typical Trump hyperbole? Is there really a trade war in the making? Indeed, was there ever? And how much of it is really about reducing the US global trade deficit—and how much about the resurrection of Trump’s ‘economic nationalism’ theme for the consumption of his domestic political base in an election year? One thing for certain, what’s underway is not a ‘trade war’.
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Amazon Is a 21st-Century Digital Chain Gang
GlobalizationWhen Amazon announced plans to locate a $5 billion complex as its second headquarters somewhere in North America, state governments fell over themselves offering billions in tax abatements and corporate subsidies to secure the prize. It might behoove the remaining 20 cities that have made the final cut to heed the warning from Virgil’s Aeneid: “I fear the Greeks, even when they are bearing gifts.” Especially when the gifts come in the form of a modern-day digital chain gang.
