Straight talk from Clinton's trade negotiator

It is rare when a government official actually blames himself for his mistakes. That straight talk occurred in the June 4 issue of Foreign Policy in Focus when Robert Cassidy, President Clinton's Assistant U.S. Trade Representative for Asia and China, took himself to task for the trade agreement he negotiated with China. He began:As the principal negotiator for the landmark market access agreement that led to China's accession to the World Trade Organization (WTO), I have reflected on whether the agreements we negotiated really lived up to our expectations. A sober reflection has led me to conclude that those trade agreements did not. Cassidy notes that only two groups benefited from our trade agreement with China: "multinational companies that moved to China and the financial institutions that financed those investments, trade flows, and deficits." The American economy and the American worker were the big losers with up to 2.5 million manufacturing jobs lost. Here is his...(Read Full Article)