http://www.eastasiaforum.org/2008/11/05/what-obama-means-for-asia/ Economics, Politics and Public Policy in East Asia and the Pacific Sun, 12 Feb 2012 22:50:38 +0000 hourly 1 http://wordpress.org/?v=3.2 http://www.eastasiaforum.org/2008/11/05/what-obama-means-for-asia/comment-page-1/#comment-156 Exmond DeCruz Sun, 09 Nov 2008 23:57:50 +0000 http://eastasiaforum.wordpress.com/?p=1978#comment-156 There is no doubting that Obama will bring to American foreign policy a far more sophisticated, consultative and nuanced approach that is long overdue. We have all been swept up in this fervour and deservedly so. It is however hard to ignore the fact that Obama also espoused a populist rhetoric during the election invoking higher taxes for the wealthy as well as protectionist ideas - suggesting a re-working of NAFTA and acting against companies that outsource jobs by removing their "tax breaks". Rather than specifically punishing companies that outsource, it is more likely that Obama will use tax credits or incentives to tilt the playing field towards those American companies that avoid shipping jobs overseas. It remains to be seen however whether the political realities of high office will catch up with the campaign rhetoric. However the Obama Presidency's policy approach to WTO and free trade will be interesting, to say the least. There is no doubting that Obama will bring to American foreign policy a far more sophisticated, consultative and nuanced approach that is long overdue. We have all been swept up in this fervour and deservedly so.
It is however hard to ignore the fact that Obama also espoused a populist rhetoric during the election invoking higher taxes for the wealthy as well as protectionist ideas – suggesting a re-working of NAFTA and acting against companies that outsource jobs by removing their “tax breaks”. Rather than specifically punishing companies that outsource, it is more likely that Obama will use tax credits or incentives to tilt the playing field towards those American companies that avoid shipping jobs overseas.
It remains to be seen however whether the political realities of high office will catch up with the campaign rhetoric. However the Obama Presidency’s policy approach to WTO and free trade will be interesting, to say the least.

]]>