Business Media Observe Obama’s Isolation in Asia Summits
Sept. 6, 2016 (EIRNS)—Bloomberg News in the United States and the Independent in London, among other media, note the failure of President Obama’s attempt to take the TPP weapon to Asia for the ongoing summit conference.
In "Obama Trade Setbacks Undercut Progress in Southeast Asian Ties," Bloomberg says that Obama’s trade offerings to Southeast Asia are failing, and that China has already overcome the South China Sea issue with its ASEAN partners. A chart shows that both the United States and Japan—ASEAN’s leading trade partners a decade ago—have fallen behind China year by year. China-ASEAN trade is now roughly $370 billion/year; U.S.-ASEAN and Japan-ASEAN are now only about $200 billion/year each. In fact, U.S. trade volume with ASEAN is lower than when Obama took office eight years ago.
Obama’s talking point at the G20 was the Trans-Pacific Partnership (TPP), the news service notes, but it is well known that it is not supported by either House of Congress or either major presidential candidate. So he formed no partnerships at the G20.
His consolation prize? "Still, the White House was hopeful that new engagement with Laos would symbolize the ways America could increase its role in the Asia-Pacific region."
But all Obama has announced there was $90 million in aid—over three years, moreover—to help Laos remove unexploded Cold War-era ordnance.
"The president also said the U.S. would bring the first lady’s girls’ education initiative to the country, expand teacher exchanges, and improve Internet access."
Not relevant to the need for $110 billion/year in credit for new economic infrastructure over a decade, identified by the ASEAN nations on the first day of their summit.
The London Independent weighed in with "TTIP and TTP Both Look Set for Collapse." But it noted Obama still intends to beat Americans with this rightly dead horse all during September. "At least 30 events are planned before the end of the month in a major effort to build popular and congressional assent.
"Aside from the opposition to TPP of both Democratic and Republican presidential nominees, U.S. House Speaker Paul Ryan, who is a TPP advocate, admitted last week that ‘We don’t have the votes in Congress" for the bill to be brought up before the end of Obama’s presidency,’ even in the lame duck session after November’s elections."
All Obama’s scheduled"TPP promoters" are former Defense Secretaries or retired military officers, putting his blitz for the deal on purely a war footing against China. But not only did he bring no partnership for development to G20; his "weapon" is seen to be a dud.