Op-Ed: The World is broke, financially that is. It is also broken in many other ways but such sadly is life. The claims that so many countries have no money are of course relative. There is always money to be found for conflict, expensive sporting events such as the Olympics, Royal Families, Presidents, Corporations, Palaces and much more.
As the Eurozone lurches from one problem to another it seems that the US is looking East. It is hoping to seal trade deals which will bypass crippled Europe.
Asia-Pacific Economic Co-operation (Apec) The President was speaking at the annual regional summit in Hawaii. The Trans-Pacific Partnership (TPP), is holding talks. The talks currently include Chile, New Zealand, Brunei and Singapore. These countries all have small economies as far as the World stage goes.
Lining up to join is the US, Australia, Malaysia, Vietnam, Japan and Peru. Negotiations are ongoing. It is to be hoped that this joining together of countries has more success than the EU experienced.
With China being one of the few growth economies in the World right now many leaders hope they too will join. As yet they seem disinterested. Strange isn't it how China can continue along its dreadful path of poor human rights, and more, without the World condemning them? It simply reinforces the belief that the World chooses very carefully who to berate and who to offer an alliance to. China it appears holds a winning hand right now.
Interestingly the BBC has reported that "21 Apec countries account for about 44% of global trade" Little wonder America wants a piece of the action..
President Obama spoke with the Chinese and Russian leaders in separate meetings. Deals no doubt done out of earshot. It is no secret that China wants the Yuan, its currency, to rise. Obama is keen to forge ties with Asia for the economic and strategic future of the USA.
Speaking from the meeting in Honolulu Obama said, "Together we can boost exports and create more goods available for our consumers, create new jobs. Compete, win in the markets of the future." Yep no doubt and in the long term cause more economic chaos.
Eileen Kersey manages TEK Staff Blog