Damaging the International trust

[bluesky79]

A recent lobby by the AFL-CIO to request renegotiation of the ROK-US FTA is a serious blow to the faith the world has in America.

Besides, the ROK-US FTA had been negotiated under the working-level talks to reflect understandings and benefits of both parties. Requesting a renegotiation is utterly dismantling the previous efforts which is based on rational judgements.

Most of all, the renegotiation of ROK-US FTA is against the foreign policy of Obama Administration which emphasized the trust and cooperation between the allies.
Therefore, the U.S congress should swiftly ratify the agreement to promote ROK-US alliance and the worldwide cooperation.

 

[WillowTree]

I swoon. I swoon!

 

[editec]

FYI

The United States Concluded An Historic Agreement With The Republic Of Korea On April 1, 2007. This Comprehensive Trade Agreement Will Eliminate Tariffs And Other Barriers To Trade In Goods And Services, Promote Economic Growth, And Strengthen Economic Ties Between The United States And Korea.​

[FONT=times New Roman,times New Roman]a Gateway To Significant Markets [/FONT]

korea Is A $1 Trillion Economy And Is The United States’ 7th Largest Goods Trading Partner. In 2006, U.s. Goods Exports To Korea Were $32.5 Billion, An Increase Of 16.9 Percent From The Previous Year. In 2005, U.s. Foreign Direct Investment In Korea Totaled Roughly $18.8 Billion And Was Concentrated Largely In The Manufacturing, Banking, And Wholesale Trade Sectors. Korea Currently Enjoys Broad Access To The U.s. Market And The United States Is Korea’s Second Largest Market, Importing 17 Percent Of Korea’s Worldwide Exported Goods.​

source

How nice for superwealthy investors...particularly banks of couse.. you'll see why soon enough.

They can take advantage of Korean cheap labor and increase their profits by investing in Korean manufacturing..at the expense of the American manufacturing

Doubt that this policy ends up hurting our economy FREE TRADERS?

Okay, then read the following trade imbalance figures.



year trade imbalance with Korea

2008 $18.4840 billion
2007 $12.9750 billion
2006 $13.3620 billion
2005 $16.0165 billion
2004 $19.7555 billion
2003 $13.1568 billion
2002 $12.9960 billion
2001 $13.0008 billion
2000 $12.4777 billion

Our trade policies are bleeding wounds.

The wealth of the USA flows into other natinal economies and our master class are the people who most benefit from that state of affairs, while at the American working class and national economy itself pays for their good fortune.

Who benefits MOST in America from this insane trade policy (in other words why is American doing this to ITSELF?

Improved Financial Services

1. • [FONT=Times New Roman,Times New Roman]Under the agreement, the U.S. financial institutions: [/FONT]

1. 1. [FONT=Courier New,Courier New]
   2. o [/FONT][FONT=Times New Roman,Times New Roman]have full rights to establish or acquire financial institutions in Korea to supply a complete range of financial services;[/FONT]

1. 1. [FONT=Courier New,Courier New]
   2. o [/FONT][FONT=Times New Roman,Times New Roman]may establish branches of U.S. banks, insurance companies, and asset managers; and[/FONT]

1. 1. [FONT=Courier New,Courier New]
   2. o [/FONT][FONT=Times New Roman,Times New Roman]have rights to supply cross-border a specified list of financial services, including portfolio management services for investment funds in Korea.[/FONT]

[FONT=Times New Roman,Times New Roman]

1. • Korea committed to ensure regulatory reforms in the financial services sector, such as increasing the allowance of foreign currency reserves, bancassurance reform, more regularized and transparent regulatory procedures, adoption of a negative list approach to financial sector regulation, regional integration of data processing, and leveling the playing field between private insurers and Korea Post and cooperatives selling insurance services.

[/FONT]

[FONT=Times New Roman,Times New Roman]source[/FONT]​

So let's think about this shall we?​

The biggest benficiaries in this trade policy are AGricultural conglomerates and BANKS.​

The biggest losers are manufact6uring workers thoughout the USA...not the manufacturers themselves, because they're INVESTING IN KOREA..just the workers AND THE AMERICAN ECONOMY ITSELF SUFFER.​

Can you say CLASS WAR, citizens?​

If you can't bring yourself to admit that's what's going on, don't worry about it...​

I can.​