India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt

India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt (ZeroHedge, Aug 1, 2014):

In the last few days a new and curious question has emerged: would India embrace the US/Japan axis while foregoing its natural Developing Market, and BRICS, allies, Russia and China. We now have a clear answer and it is a resounding no, because in what was the latest slap on the face of now crashing on all sides US global hegemony, earlier today India refused to sign a critical global trade dea. Specifically, India’s unresolved demands led to the collapse of the first major global trade reform pact in two decades. WTO ministers had already agreed the global reform of customs procedures known as “trade facilitation” in Bali, Indonesia, last December, but were unable to overcome last minute Indian objections and get it into the WTO rule book by a July 31 deadline. WTO Director-General Roberto Azevedo told trade diplomats in Geneva, just two hours before the final deadline for a deal lapsed at midnight that “we have not been able to find a solution that would allow us to bridge that gap.

 

1 thought on “India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt

  1. Yep. Today, it is all global. India has already signed in with the east when it became one of the major players in BRICS, involved in providing a pool of currencies worth $100 billion to loan to smaller nations wanting to break away from US domination.
    The war is on, it will be five years come November, and it is economic. The US does not seem to understand what has or is happening. The world has shifted to a global scale. The US continues trying to generate a war with one of the world’s most popular men…..pure 20th century. We got left behind because we have fools for leaders.

    In my opinion, it is too late for the US. One, debt level now equals GDP. Two: Credibility….all gone thanks to the crooks who now own the congress. Three: Financial standing, not paying Germany half their own gold back shows the world that the US is bankrupt. The only reason we have gone this far is because we were the world reserve currency. Now, it is pretty obvious (except for the fools who watch and listen to US media) the world reserve currency no longer matters…..another dead 20th century idea. Technology has rendered it unnecessary and obsolete. Next: Breakdown of the family, less than half the people who have babies have a family unit, no husband, no stability……it is a mess; society is on the decline.

    Bottom line: The US is no longer worth investing in. And for us, that is the death keel. We have relied on foreign investment for the past three decades, and as long as the money came in, it seemed fine. Then, came the breakdown in 2001, the warning sign nobody heeded. 2007-08 was the bigger breakdown, this time everyone had to heed. Wall street crooks got away with billions, Enron became a household name for crooked finance practices, Global Crossing, WorldCom, and so many other large corporations collapsed. Millions lost homes, jobs, pensions……everything.
    And, what did the new clown in the White House do? Absolutely nothing for the middle class, all for the greedy guts. It soon penetrated except those with deepest denial we were snookered.
    All of this was noted by the world. By 2010, it became apparent nothing was going to be repaired, no good regulations would be put into the markets, and foreign investment slowed to a trickle.
    It has continued to get worse. Over 100 million working age Americans have no jobs. In a total population, that number is staggering. Any time one turns on US media, they talk about the strong recovery……that never happened.
    So, people have stopped putting their money into the US. The US has become a virtual joke, all credibility is gone. As a result, we are bankrupt. Were it not for that private bank, the FED, the US would be forced to default on their national debt. The FED is carrying over 80% of US debt.

    We are in deep trouble. If the EU moves into Putin’s group, the dollar will collapse. The real war has been economic, and few in the US had a clue. The war is nearly over……..lets see what Germany does. Americans are not used to be in a position waiting to see what another nation does…………

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