Quote:
Originally Posted by Traum
It's rather pointless for the US to start something new outside of WTO, esp if China is one of the reasons to do so. The proper thing to do would have been to pursue the explusion of China from the WTO. There are already good, strong reasons to do so, and pursuing it would yield far more political and economic ammunition to bring China down to its knees, and bow to the US' / Trump's will.
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The problem is that WTO has very little exit clause unless the member chooses to do so.
US, or at least the Trump administration has clearly shown its frustration with WTO when it comes to dealing with China. And EU, at least major members like Germany, England and France are showing some allegiance to US ideologies (you can see how fast Germany reached a framework deal with US on automobile sector).
Hence, I think the rumor of US starting a new alliance between countries with common values is not without ground. Should it really pull the trigger, WTO will have little incentives for major economies like JP, EU or even Australia to stick with WTO if US is indeed pulling out of it.
I'm just worried about Trudeau being too stubborn to stick with the wrong side. Our economy is far too dependent on the US to go against it. It's not about any US supremacy or anything, it's just a realistic view of our economy. I'd love Canada to diversify its dependence on US, but realistically speaking, it's going to be hard, if not impossible, to go the other direction.