Fast Talk

Not good news. As the U.S. and European economies go into recession, Asian economies probably won't suffer as much. Their growth curve won't be thrown severely out of joint by the weakness in Western financial institutions. The shift in power will create even more political pressure for protectionism, which in the long term will only make the problem worse.

Parochialism is as strong as ever in revealing our tribal belongings. Tribalism is expressed in many ways - which sporting team we follow, which political candidate, which party, which nation! There's plenty of talk coming out of the US in the name of a "global outlook". But even luminaries like Thomas Friedman disappoint when talking about what "we Americans" must do -- it taints some otherwise excellent & stimulating reading in FC & elsewhere. Such talk & the trashing of trade agreements all looks very parochial & non-global to me.

sure trash the trade agreements that were put in place by former leaders of the US. To me it makes little difference, I am happy causing trouble in my own town

It doesn't mean anything until we find out what the new agreements are. Hopefully any new trade agreements will require foreign companies to meet the same amount of quality control standards that US companies have to comply to.

Free trade is an important goal for the United States and the world. Mitigating the impact of outmoded industries in the US may be a function of government, but through job training and regional development, not subsidies.

Free trade so often means that only the developed economies have the where withal and power to determine what is "free" and what is restricted. The US economy will stay the engine that pulls other economies along. No economy in the world can or wishes to resist being part of a "Free Trade Block" where the US has the drive and incentive to satisfy all it consumer demands.