APEC agrees to global boom and bust

Nine APEC leaders (Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the United States and Vietnam) have agreed a deal which will see a phasing out of Tarrifs and other trade barriers from next year. President Obama has commented that “with nearly 500 million consumers between us, there is so much more we can do together”. There you go then, we’re not people anymore, we’re consumers, here to be exploited. YOU WILL CONSUME.

Other than only holding any significance to world leaders for my potential to buy stuff, I am distressed at the lack of comment on how another, deeper global recession will be avoided. Removal of trade barriers here, Chinese protectionism condemned and at home the U.K is “open for business”. We are still attempting to crawl, with one hand continuously slipping off a cliff-edge, out of a global recession. Each nation was so powerless to avoid our current plight, in no small part, due to the fact that this is a global recession. Put nine world leaders around a table and what do they come up with? Globalisation. I’m sure I’ve just stepped into a Far Side sketch.

We are in a recession and we need to come out of it.What I want to know is, if trade barriers are to removed, how we will achieve sustainable growth for everyone. What I now expect is a headlong acceleration to the maximum possible economic growth, slapping on backs all-round and victory and the next election for those involved. Followed by a screeching halt anda global economy falling over the precipice, during which the rich will stay rich and everyone else will start losing their public services. Are our leaders really willing to be this short-sighted?

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