Unfortunately, most Americans have never heard of the World Trade Organization (WTO) and its true role. It seems as if the media wants to keep it that way since we never hear about news regarding the WTO. The reality is that the WTO has a great deal to do with the current unfavorable condition of the U.S. economy. Essentially, the WTO can be seen as a contract between 160 member nations that severely restricts the ability of countries, especially the U.S., to handle their own economies and control their own trade. The WTO has proven to be detrimental to our economy.
Tag Archives: economy
America’s economic problems are no secret. Nations like China are growing more and more economically powerful, while America is spiraling out of control. Losing an average of $600 billion dollars per year in trade deficits adds up, and the new low-wage economy neither brings in the needed tax dollars to run the country, nor gives citizens enough money to pay the bills. The more imports we buy, the more other nations prosper, and the more America falls deeper and deeper into third world status.
It is no secret that a number of disastrous policies and failed strategies have contributed to our current economic vulnerability. Our one-way “free trade” agreements, such as NAFTA, KORUS and the agreements with the World Trade Organization (WTO), have opened our doors to foreign goods. We are losing jobs and a number of valuable businesses have shut down, all while our markets continue to be flooded with foreign goods entering our country tariff- and duty-free. Far too often, the WTO favors foreign nations, leaving the U.S. at the mercy of unfair tactics, backdoor protectionism and constant threats to our sovereignty.
It is difficult to believe the United States could actually get some advice on how to improve its economy from a country smaller than California. Japan has better planning, direction, and a more responsive government than the United States. It has such a successful economic base that countries like Taiwan, South Korea, Singapore, Malaysia, and China are all emulating the Japanese model.