Tag: Trans-Pacific Partnership

Asia America Ties

Truong_Tan_SangStronger ties are developing with Asia America.  The US is indicating a more substantial commitment to Asia in recent times.  This was particularly noticeable when, at the end of July, President Barack Obama hosted the Vietnamese President, Truong Tan Sang at the White House. The meeting was particularly poignant since it happened four decades after the end of America’s military involvement in the Vietnam War. As well, this is a time of advancing ties in security and trade with Asia America, via Washington and Hanoi.

President Obama said that he understood Asia America’s “extraordinarily complex history.”  Further, the two regions have developed “mutual respect and trust,” and it is hoped that this will advance even more on economic as well as military issues in the future.

Some of the subjects discussed at the meeting included: the Trans-Pacific Partnership; South China Sea maritime disputes; climate change; human rights and economic ties.    Vis-à-vis the partnership, Obama said, “we’re committed to the ambitious goal of completing this agreement before the end of the year because we know that this can create jobs and increase investment across the region and in both our countries.”

At the conclusion of the meeting, President Obama said:

 

“So I just want to say to President Sang how much I appreciate his visit. I think it signifies the maturing and the next stage of the development between the United States and Vietnam. As we increase consultation, increase cooperation, increase trade, and scientific and education exchanges, ultimately, that’s going to be good for the prosperity and opportunities of the people here in the United States, as well as good for the opportunities and prosperity of the people of Vietnam.”

Getting the Economy Back on Track

Making Concessions Between East and West

According to leaders in the Asia Pacific market, if the world economy is going to recover and stay on an even keel, then establishing freer trade is crucial.  In a meeting reported in an article in ABC News, real progress seems to have been made on developing an American-backed regional trade bloc. 

The entire world economy would really get a boost if a Pacific free trade area was forged.  The idea received support from Mexican and Canadian leaders who joined Japan in “expressing support for a deal that has received a cool reception from rising power China.”  President Barack Obama has been delighted by this news as he put this high on his list for the yearly Asia-Pacific Economic Cooperation summit.  As well, it follows the announcement made by Japan (the world’s third largest economy) that it is seeking to become part of the Trans-Pacific Partnership talks.

The meeting was very timely, given that the economy is not in the greatest shape right now. This has encouraged greater openness by the group to cooperate on any ways that may lead to a strengthening of the economy.  As well, the meeting centered on different methods to increase the likelihood that green-based economic policies are put in place to “ensure energy security.”

So, a lot is on the economic table between east and west markets right now.  In a sense, the worse the economy does, the more committed economic leaders become to making things better through compromise and cohesion.  That ultimately could be the key that’s needed to ensure overall economic recovery and progress.