Mike Konczal at The Nation writes—Here’s the Trade Policy That Progressives Should Get Behind:
So what can be done? First, we need a progressive vision of what trade deals should look like in the future. Here’s one: At this point in globalization’s spread, these deals are less about direct trading between countries and far more about the regulations that govern multinational corporations as they expand across the globe. We should be sure that trade deals don’t interfere with any country’s ability to regulate corporate behavior. So-called “investor-state dispute settlements” do just that, by allowing companies to sue countries over their domestic regulations in opaque international tribunals. We also shouldn’t use trade deals to allow sectors like the pharmaceutical industry to push regulations friendly to them into developing nations. The labor movement must be strong internationally to avoid a global race to the bottom, so any progressive trade deal should boost workers’ power in other countries. And within these deals, we need mechanisms to prevent other countries from manipulating their currency, which China did to its great benefit during the 2000s.
Second, we will likely have a trade deficit no matter what we do, because US debt is valuable to many countries as a means of payment and as a protection against financial collapse. If we were to resist that exchange, as Trump suggests, we would destabilize foreign economies and disrupt our own as well. As the economist J.W. Mason notes, we should be focused on channeling this foreign capital into productive investment at home, including job-creating infrastructure that can boost growth. A Green Keynesianism could use the trade deficit to combat global warming while creating good jobs for workers—a win for everyone across the globe.
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At Daily Kos on this date in 2008—CO-Sen: Schaffer on His Own Now:
National Republicans have decided Bob Schaffer is a sinking ship, and you know what happens with the rats then.
Last week there were rumors that the NRSC was going to pull out of Schaffer's campaign for the Colorado Senate seat being vacated by Wayne Allard. That speculation is confirmed today.
Mark Udall, has been posting consistent leads in polling for the last month, probably one reason a cash-strapped NRSC has decided to retrench and defend other seats. It's not just the NRSC that have been scared off. "Independent" 527s, are also pulling out, looking to Oregon and North Carolina to try to salvage a few Republican incumbents.
On today’s Kagro in the Morning show, it’s a parade of guest commentary! Greg Dworkin parses the latest polls and explains that weird Los Angeles Times panel. Armando spots a hole in the latest emailghazi claims. Rosalyn MacGregor reports from Michigan, John R. from Texas and Brian Munroe from Canada, but about us!
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