America’s record at the W.T.O. is not good: America’s Losing WTO Track Record May 01, 2011 Dustin Ensinger http://economyincrisis.org/content/americas-losing-wto-track-record Even America’s W.T.O. victories produce few, or no, benefits when it comes time to enforcing a W.T.O. ruling. Making the W.T.O. a United Nations agency is the only way it could get worse for Americans. Hussein is filing another case for political reasons: U.S. to File W.T.O. Case Against China Over Cars By KEITH BRADSHER Published: September 16, 2012 http://www.nytimes.com/2012/09/17/b...le-wto-case-against-china-over-cars.html?_r=1 Hussein motives are less than pure; so I don’t know why rank & file union members would think going to the W.T.O is in their best interests? In fact, Hussein is more concerned with strengthening an International organization than he is concerned about American jobs or the trade imbalance. Surely, relying on W.T.O. decisions to protect America’s industries and jobs contributed to the massive unemployment in this country in the first place. Paper victories over China won’t change anything: At WTO, U.S. racks up wins against China, but the benefit is less than certain By Howard Schneider, Published: August 6 The Washington Post http://www.washingtonpost.com/busin...5fc5a2-d285-11e1-adf2-d56eb210cdcd_story.html There is absolutely no evidence the W.T.O creates jobs in this country. Bottom line: If Hussein has to go to an International organization based in Europe to bring back the American auto industry who the hell is he working for?
Here’s a bit more: President Obama’s General Motors hypocrisy By: David Harsanyi 9/17/2012 01:09 PM The Wall Street Journal reports today that the Treasury Department is resisting a push by General Motors executives for government to sell its entire stake in the automaker. Oddly enough, today we also learn that the Obama administration is launching a complaint at the World Trade Organization over China’s allegedly unfair backing of its auto industry. The United States will charge the Chinese government with subsidizing auto and auto parts producers from 2009 and 2011 with $1 billion. Protectionism and China bashing are vital, apparently, when campaigning in Ohio. When President Barack Obama engages in nationalization, he’s making a gutsy call and “saving” the American auto industry. Democrats, in fact, brought up the bailout 150 times during the Democratic National Convention. It was such a gutsy call that U.S. taxpayers, who rescued the heavily unionized automaker, now own around 26.5 percent of the company. It was back in June of 2009 that President Barack Obama claimed taxpayers were “reluctant shareholders” after the government nationalized General Motors. “What we are not doing — what I have no interest in doing — is running G.M.” He went on: “They, and not the government, will call the shots and make the decisions about how to turn this company around. The federal government will refrain from exercising its rights as a shareholder in all but the most fundamental corporate decisions.” If General Motors believes it needs to move one without government to be successful, why would reluctant shareholders stand in the way? GM executives reportedly feel like the company is tainted by the stigma of bailouts. It also reportedly struggles with the pay restrictions imposed by Washington, undermining the ability to recruit the best people. Pay caps might be wonderful in populist messaging, but they make no sense in the real world. All of this a fine example of why government shouldn’t own American companies. Even when it’s not involved it is. So why won’t Treasury Department sell the remaining shares? November. If the Treasury sold its stake, it would have to admit, despite all its big talk of success, that the venture cost taxpayers a bunch of money. As I write GM’s shares stand at around $24. If the U.S. sold it shares today it would lose another $15 billion on the bailout. GM stock would need to reach $53 a share for the U.S. to break even. The Wall Street Journal reported that the Treasury Department will start thinking about unloading it when its in the $30s. Well, G.M.’s 52-week high is $27.68 and it’s lost more than half its value in the past two years. And for those who believe that the United States isn’t selling simply to wait out a more favorable stock price; you’re probably going to be waiting a long time. With demand in Europe and China weakening, Moody’s Investors Service recently lowered its growth forecast for global auto sales next year. Moreover, the Treasury Department itself estimates that government will lose more than $25 billion — 15 percent higher than its previous forecast. So why wouldn’t it move now? http://www.humanevents.com/2012/09/17/obamas-broken-gm-promise/
GM's 2014 Corvette is the first all-new version in nine years... Cheery carmakers flock to Detroit 13 January 2013 - Ford has created thousands of new jobs on the back of booming domestic sales
Screw the WTO, China has been engaging in neo-merchantilism for over a decade, and they do nothing about it!! The world has been engaging in a currency war for years now driven by China's currency policy. The WTO is like the SEC after the GFC. They have the credibility of a drug dealing crack head!
