Posted by
KWG on Thursday, July 17, 2008 5:54:29 PM
Robert Reich, economic hero to the labor union left, was
interviewed in the Huffington Post today on the subject of America’s current economic situation. The interviewer asks why Japan and other Asian markets generally would prefer Republicans in office, and speculates that it’s due to free trade.
Keep in mind, Obama has pledged to pull out of NAFTA when elected President. Reich, however, thinks Obama will be better for free trade:
"They're wrong to fear protectionism. Democrats have led the way to internationalism and global trade -- starting with the Kennedy Round in the 1960s and continuing through NAFTA and China's entry into the World Trade Organization under Clinton.
Backlashes against globalism occur under Republicans, as they did under Herbert Hoover in the early 1930s and now under George W. Bush. The reason is simple. America's huge middle class doesn't do as well under Republicans. Their jobs are more threatened. As a result, they fear trade and other global commitments."
So, to go in the end-around logic: the middle class right now fears free trade and globalization due to their uncertain economic situation. Under an Obama administration, the economy will be doing super-awesomely, and they will fear free trade and globalization far less. Then President Obama will pull out of NAFTA. Sound like free trade will flourish?