What is China doing in Central America? Is free trade in danger of being threatened? Has the WTO made any progress toward breaking down international trade barriers? This week’s Wrap takes a look at some changes on the international trade scene that may affect us in the not so distant future.
US News & World Report
A Chinese billionaire is in the planning stages of building a canal through Central America to
the Western Hemisphere. Despite an apparent lack of concern in Washington, writer Eric Hannis thinks development signals a drastic change in traditional American foreign policy.
Farewell to the Age of Free Trade
Bloomberg Businessweek
Since the end of the Second World War, international trade has expanded at a more rapid rate than actual economic growth. This has meant, among other things, an increasingly interconnected international economy. Recent developments however, may be signaling an end to this rapid expansion and a return to more nationalistic economies.
WTO overcomes last minute hitch to reach its first global trade deal
Reuters
After 12 years of fruitless negotiation the World Trade Organization rekindles confidence in its ability to lower barriers to worldwide trade. This week, the organization passed its first global trade agreement since its inception in 1995 and for better or worse, international free trade continues to spur Western-style economic growth in developing countries.
International trade is always an interesting study if only to observe how certain individual interactions by the elect, have such enormous implications for the other 7 billion. As the integration of national economies continues its steady march onward, this century will be the testing ground for this unprecedented economic experiment. As always, please share your thoughts and comments, and have a great weekend!
