I have been asked to write an article about the
election of Barack Obama as the next President of
the United States as it relates to the future of
Founded in 1776, the
U.S.A. is very young compared to the histories of Europe and Asia. We are
unique in that we are made up of almost every culture of the world, and we
have had a very progressive society wherein dreams can be attained no matter
where we come from.
True, we have many
differences as to how we should be governed, but we have peaceful methods
and opportunities to reach our goals and objectives. When it comes to how
the Democratic Party will function with a Chief Executive and Congress
remains to be seen.
There were many words
spoken during the election process from both parties, and they changed their
specific plans during this time in an effort to obtain votes. Once power is
transferred, there are usually many changes between what was implied during
election and what will actually become policy during a term in office.
The following issues
may or may not affect the area of trade.
The Democratic Party is
strongly supported by Unions of all sectors of industry; therefore, I must
assume more protectionist policies within our foreign trade regulations.
There are three Free Trade
Agreements pending under Fast Track that the Democratic Congress will not
bring to the floor for a vote (Korea, Columbia, and Panama).
The United States Trade
Representative (USTR) is at the discretion of the Office of the President;
therefore, our existing representatives might be changed and different
attitudes towards the WTO will possibly follow.
Foreign investment into other
countries will most likely be different due to the need to create jobs to
increase our own infrastructure.
Labor compliance for people
working in other countries will become a very important issue in all trade
contracts for the future.
Though statements were made
about our existing Free Trade Agreements, especially NAFTA/CAFTA, I do not
think the existing FTA's will be changed in the near future.
China will be observed, and
many issues that have already had legislative arguments and debates will
arise again, possibly with successful passage but maybe not with successful
Regulations that have not been
enforced or where we
looked the other way
will now be monitored and very
stiff penalties will be invoked.
The future of additional FTAs
will most likely not be on the high priority list for the new government.
I will say that over time,
usually the President becomes a Centrist, a little left or right of center,
so therefore we as country move forward to be leaders of a world
Now we must just wait
and see because many ideas will be pondered, but basically we understand
that we are in a world economy, and we only desire to have PEACE and
PROSPERITY in the minds of all who govern.
By: Bruce S. Berton
Here are a few of the
other recent articles written by Bruce:
Product Branding and Licensing in the Apparel Industry
S. Berton , October 2008
In the Apparel Industry Speaking the Same Language Does Not Mean You are
S. Berton , September 2008
Is the Glass Half Full or Half Empty?
S. Berton , July 2008
FASHION IS NOT THE ONLY ANSWER
Beauty Is in the Eye of the Beholder
S. Berton , July 2008
Will It Be June Gloom Or Summer Spectacular?
June 4, 2008 by Bruce