Friday, November 10, 2006

Economic Globaloney Bounced, Too

GlobaloneyII's 'planting Democracy' (below) was not a successful re-election device. Neither is his benign neglect of American industrial jobs:

Almost no embattled Republican could be found taking the Bush line that NAFTA, or CAFTA with Central America, or MFN for China, or globalization was good for America and a reason he or she should be re-elected. But in Ohio, Pennsylvania and Michigan, attacks on free trade were central elements of Democratic strategy.

By the way--Webb campaigned against 'economic Globaloney' too...

What is ahead is not difficult to predict.

The Doha Round of global trade negotiations is dead. Even if Bush cuts a deal with Europe, it could not pass the new Congress. In mid-2007, when Bush asks for renewal of his fast-track authority – presidential power to negotiate trade deals, while cutting Congress out of any role save a yes-or-no vote – it will be amended drastically or batted down handily.
But if the free-trade era is over, what will succeed it?

...A rising spirit of nationalism is evident everywhere in this election, not simply in the economic realm. Americans are weary of sacrificing their soldier-sons for Iraqi democracy. They are weary of shelling out foreign aid to regimes that endlessly hector America at the United Nations. They are tired of sacrificing the interests of American workers on the altar of an abstraction called the Global Economy. They are fed up with allies long on advice and short on assistance.

PJB declares that 'American nationalism' is returning, signaled by this election. While PJB overstates the case, (as did Spectral Specter by stating that the Pubbie Party was 'too close' to Christians,) the Economic Globaloney types should pay attention.

After all, if one wants to create the Good Life for Chinese oligarchs, perhaps one should run for offices in PRC.

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