Asia trade talk stumble is another setback for U.S.: analysts

Probably inevitable since Trump went against our national interests by torpedoing TPP. The good thing is the US is large enough that it doesn't really need these trade agreements and can do things bilaterally.

A failure to deliver IPEF could look like a replay of the Trans-Pacific Partnership (TPP), which former president Donald Trump denounced as bad for U.S. jobs.

America first, America first, and see what happened now, it just being left behind while China's Belt and Road Initiative gain traction in many places.

https://time.com/4309786/read-donald-trumps-america-first-foreign-policy-speech/

Truly embarrassing. Biden's performance at APEC gets a D, only because it looks like he at least tried to make it work. World leaders know that no US president will be able to get a trade agreement ratified in the Senate for the foreseeable future. World leaders will work with other leaders who do not suffer from this structural deficiency.

sakurasukiToday 07:43 am JST

it just being left behind while China's Belt and Road Initiative gain traction in many places.

No, the BRI is rapidly slowing down, now that China's economy is failing and it can't afford to throw money around; and countries have come to realize its purpose is to benefit China, not them, and just leaves them in debt with often poor-quality infrastructure that destroys the environment:

https://www.cfr.org/blog/rise-and-fall-bri

In recent years, there have been an increasing number of reports from BRI partner countries about construction flaws in major infrastructure projects, project cancelations initiated by BRI partner countries due to concerns over corruption and debt, project cancelations initiated by Chinese companies due to financial problems, and projects that have led to nowhere (in some cases, literally – such as a BRI-funded railway that ends in the middle of a field in Kenya). 

https://www.reuters.com/world/china/chinas-belt-road-plans-losing-momentum-opposition-debt-mount-study-2021-09-29/

"A growing number of policymakers in low- and middle-income countries are mothballing high profile BRI projects because of overpricing, corruption and debt sustainability concerns," said Brad Parks, one of the study's authors.

The survey found that 35% of Belt and Road projects were struggling with corruption, labour violations, environmental pollution and public protests.

...

Italy will be leaving soon, which may also pave the way for other countries to leave:

https://www.cnbc.com/2023/09/14/italy-possible-withdrawal-may-lead-to-future-exits-from-chinas-bri.html

And other countries like the Philippines are pulling out of some projects, and may end up leaving the BRI altogether due to China's untrustworthiness and aggression in the South China Sea:

https://www.newsweek.com/philippines-ends-bri-initiative-1841031

The US really missed out (thanks to Trump) by pulling out of the TPP, but the BRI is certainly not the answer for countries that need infrastructure. In contrast, Japan's JICA delivers what countries need, with transparent costing, and high labor/environmental standards. This is how international development should be done.

Biden's America -- weak and ineffective.

I certainly don't care for everything about Trump, to put it mildly, but it's undeniable that America was stronger and more prosperous under him.

(And on a side note, the world was much safer and more peaceful too. Under Biden, it's burning.)

Need Trump back.

Free trade has always been key to international agreements. Build a wall and it hurts those on both sides of it.

America wants to increase its enormous debt trying to replicate Asia's factories, domestically, with a dwindling workforce demanding higher wages, and hugely hiked prices. That's a recipe for isolation and economic damage. Juche didn't work in North Korea and it won't work in the US.

One body, WTO is a obvious forum.

However define in law a collective agreement, even a basic bottom line clear statement expressing the essential nuts and bolts nature of Free Trade.......

Because what's left is.......

The Indo-Pacific Economic Framework for Prosperity (IPEF) failed to materialize at the Asia-Pacific Economic Cooperation (APEC) forum, holed by U.S. fears over the impact on workers at home.

Translated, is a long line of countries taking it turns or collectively banging there head against a wall.

Still one can take some comfort or umbrage in a willingness to keep on trying in-between the hospitably, lunches, fine wines, and lavish evening soirees.

Whilst the great unwashed clock out if they are lucky.

Fair Warning

°

Europe was built to sell the economy of Europeans to trade from america and asia and reinforce USA power in the Asian world. Those great organisations are used to increase the power of USA and they lie a lot on the real benefits of those countries that do more victims than successes. They pick one, they give the best advice, the best cut on production products. So those selected countries sign the corruption trade agreement with USA and accept to lie (Germany). But Europe have not much anymore to trade in perspective. Germany got it all and is too big to be a competition today. And this became obvious the free open market is just a propaganda to hide the manipulation of USA’s democrats (this is more a democrats things and extreme right got his shares because she knows the lying b1tch part) and their friends of economy.

So why Asia union commercial trade ? Because USA need a replacement to Europe and win power in Europe by selling you like Europe was sold to you. They trade the futures laws of europe they can buy through easy lobbying to your firms. But France is used to those manipulation. We have compensation system that are put back in place very fast. So Europe will be shut down market for economic political trading soon. For decades, they opposed Asia and Europe to reign happily in the over and only richest in paradise. And they will reverse the process. You will be the market sold to Europe.

So be careful, because those trade with USA, they come with a lot of military black ops manipulation behind the scene that break all human and social progress. And if you are not a chosen one, all your biggest firm will fall. In France, anything who could compete with USA computer domination was destroyed slowly and bought back by IBM. This is very old trade and strategic. And I see in Asia, the beginning of what they did to France after Charles de Gaulle had no choice but to get ride of USA military camps in France. At the time, this was harder to hide black ops. This was an attack move in my country to create Europe. Always been. So if you are more communist and not enough christian you will be sold to more christian amenable countries. This is a bible interest choice only. They had never a better economic science or firm. They have better capitalist black ops to get ride of the competition that don’t pick USA and vote for democrats. We have to survive to do money, when they have nothing in front of them to block them.

We are reaching the end of a system Biden have no will at all to end. Once Europe is rich, you can be rich again at least if you have elite alive able to build a firm.

Welcome to economic war of America. This is why nobody must build higher industry in other continent. This is impossible to oppose several continents. Their IA level of system and advanced calcul technology is not strong enough. There is a limit on what military help can manipulate without being noticed by economist. In france, our top economist are no more. The top Level of Dauphine have fallen to a level that make cry any lover of true French social and economic science. We were slaughtered in France by capitalism (sorry to sound communist, but this is the truth in hiding I am afraid beyond any political engagement ring) mercenaries.

Let’s resume,

Asia and Europe have been put in opposition trade by america. This is a trade that favour Asia. And america even more. They can make the most money out of it and stay the only ruler in paradise. They hided their continent software programming manipulating the dots. Europe won’t be the same market possibility for Asia. USA know that much. They will reverse the old trading economic political agreement that made the riches rich and richer. You will have to open your market to europe goods and USA will enter their own product the same way. They will produce in Europe with a black hidden slave market like in California with the Mexicans today like with the black yesterday. They use slave to cut the prices in California openly. This doesn’t mean they don’t do it somewhere else. But in Asia slavering trade is harder. So they are building it in Eastern europe market. We have a slavering market in construction in Europe behind Germany’s economic growing power.

I know this is a bit technic for newbie in economy. But those big economic union are about to banned from the World. I doubt USA survive it because all USA power is build by private mercenaries that manipulate the free market expansion in political objective that only make democrats christian firm who close their eyes on the USA mercenary business win.

Good luck ! Make sure to have a good security before letting USA enter the deal. They play the « hard to get girl » when they are the perverse and narcissique bully manipulating his harem (their words not mine).

°

MMF

Quo PrimumToday 10:31 am JST

Biden's America -- weak and ineffective.

I certainly don't care for everything about Trump, to put it mildly, but it's undeniable that America was stronger and more prosperous under him.

(And on a side note, the world was much safer and more peaceful too. Under Biden, it's burning.)

Need Trump back.

If appeasing Putin is the only way to peace, you have a strange set of priorities advocating for that.

If you want to learn something about trade in Asia watch a video or two of Singapore PM Lee Hsien Loong.

GOOD NEWS INDEED! Asia countries should not trust America and her malicious trade practicing by all means and always always stay away from her dirty threatening of using trade war as a negotiating method. America does not believing free trade but using double standard of doing trades when "America Comes First" is their motto!

United States fail to deliver on trade negotiations in the Indo-Pacific again would further damage U.S. credibility as a trade partner in the future."

Donald Trump is America and America is Donald Trump. Do you want your country to be owned by such a dirty businessman as your trading partner? Actually even he died, his dirty practice of how he doing business is a "Legend" to be remembered by everyone in the world and written in history books!

Belt and Road Initiative -- have won it friends and favor in many places.

Yes, this is what the world is heading to be. Like the Marshall Plan for western Europe after W.W.2. It is getting momentum and popularity and China is the biggest debt owner in the world. And the most important issue it is a game without America, that's why many third world countries eager to join BRI !

Randy DaytonaToday 12:09 pm JST

This is more of a confirmation it's moving forward after a sluggish temporary slowing down due to the pandemic rather than anything else

COVID is only part of China's current woes. It is Xi's policies that are really to blame.

In terms of COVID, it was his policy of lies and obfuscation that caused the pandemic to become far worse than it should, and his zero COVID policy that destroyed millions of people's lives and the Chinese economy.

But even more so than his COVID disaster, his crackdowns on various areas of business - and the small matter of him persecuting/imprisoning millions simply for disagreeing with him, or even following a religion - are what's really killing China.

Xi is an albatross around China's neck. Within a little over ten years, he has undone the work his predecessors did, destroyed this generation, and completely disillusioned the next:

https://www.bbc.co.uk/news/world-asia-china-65425941

elephant200Today 03:14 pm JST

Belt and Road Initiative -- have won it friends and favor in many places.

It seems you didn't read the links I posted.

@isabelle

Italy will be leaving soon, which may also pave the way for other countries to leave:

Currently there are already more 150 countries and more 30 international organization join BRI. Some European countries beside Italy already joined, while Greece, Croatia, and others EU countries which already dealing with China within the framework of the BRI.

So if Italy want to drop, that collaboration , that will be no significant effect, since BRI can access EU through other means. So far no other EU countries want really follow Italy path.

https://www.asahi.com/ajw/articles/15030965

In contrast, Japan's JICA delivers what countries need, with transparent costing, and high labor/environmental standards. This is how international development should be done.

Finally hat matters, whether ODA project really reach or goal, and how reach how many countries.

Japan currently already cut defense budget for next year, soon or later weak yen will have impact on Japanese ODA abroad.

https://www.japantimes.co.jp/news/2023/11/03/japan/politics/japan-defense-spending-cuts-for-weak-yen/

elephant200Nov. 18 03:04 pm JST

GOOD NEWS INDEED! Asia countries should not trust America and her malicious trade practicing by all means and always always stay away from her dirty threatening of using trade war as a negotiating method. America does not believing free trade but using double standard of doing trades when "America Comes First" is their motto!

Yes, it is much better to have flat out thieving China as a trading partner.

elephant200Nov. 18 03:14 pm JST

Belt and Road Initiative -- have won it friends and favor in many places.

Yes, because people always remember their banks fondly. I guess if they successfully pay off the garbage loan, they might remember it as a neutral experience.

sakurasukiNov. 18 05:26 pm JST

@isabelle

Italy will be leaving soon, which may also pave the way for other countries to leave:

Currently there are already more 150 countries and more 30 international organization join BRI. Some European countries beside Italy already joined, while Greece, Croatia, and others EU countries which already dealing with China within the framework of the BRI.

Lot of countries with a dollar in the game. There are 190 countries in the IMF, btw.

Don't believe anything signed by USA, remember Donald Trump he torn all the treaties and agreement the previous administration has signed, both domestic and with foreign. He and his Republicans never honoring treaty or anything signed on paper or agreements.

elephant200Today 06:22 am JST

Don't believe anything signed by USA, remember Donald Trump he torn all the treaties and agreement the previous administration has signed, both domestic and with foreign. He and his Republicans never honoring treaty or anything signed on paper or agreements.

There's no reason to be believe anything a great power signs. Your hero China included.