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YOKOHAMA, Japan (AP) - President Barack Obama claimed a stronger hand on the world stage Friday despite electoral defeats at home, failure to get a free-trade agreement with South Korea and lackluster international support for his get-tough policy with China on trade and currency disputes.
"It wasn't any easier to talk about currency when I was first elected and my poll numbers were at 65 percent," Obama argued at the close of the G-20 summit, after bluntly accusing Beijing of undervaluing its currency.
The president flew to Japan for the APEC summit without the coveted trade pact with Korea or a united front with other countries against China's currency policy. He also endured a gusher of criticism from other countries about a decision by the U.S. central bank to pump $600 billion into the U.S. economy, something China, Germany and others believe could weaken the dollar and lead to inflation.
My Way News - Obama claims strengthened hand in global dealings
SEOUL — President Obama’s hopes of emerging from his Asia trip with the twin victories of a free trade agreement with South Korea and a unified approach to spurring global economic growth ran into resistance on all fronts yesterday, putting Obama at odds with his key allies and largest trading partners.
The most concrete trophy expected to emerge from the trip eluded his grasp: a long-delayed free trade agreement with South Korea, first negotiated by the Bush administration and then reopened by Obama, to have greater protections for US workers.
And as officials frenetically tried to paper over differences among the Group of 20 members with a vaguely worded communiqué to be issued today, there was no way to avoid discussion of the fundamental differences of economic strategy. After five largely harmonious meetings in the past two years to deal with the most severe downturn since the Depression, major disputes broke out between Washington and China, Britain, Germany, and Brazil.
Each rejected core elements of Obama’s strategy of stimulating growth before focusing on deficit reduction. Several major nations continued to accuse the Federal Reserve of deliberately devaluing the dollar last week in an effort to put the costs of America’s competitive troubles on trading partners, rather than taking politically tough measures to rein in spending at home.
The result was that Obama repeatedly found himself on the defensive. He and the South Korean president, Lee Myung Bak, had vowed to complete the trade pact by the time they met here; while Obama insisted that it would be resolved “in a matter of weeks,’’ without the pressure of a summit meeting it was unclear how the hurdles on nontariff barriers to US cars and beef would be resolved.
US, South Korea trade accord not a done deal - The Boston Globe
:lamo Is this guy Obama for real? He jets across the world to secure a pact that was already pretty much done for him by the previous administration, and in his arrogance manages to blow it up because he thinks he has a better plan. Then he goes to China and pretty much insults our biggest lender, and has the utter gaul to step out and say that he claims a "strengthened hand"?
Maybe he needs to submit to a drug test, because I think he is snorting drugs again. He is without a doubt the most inept President we have had in a long time...
The most concrete trophy expected to emerge from the trip eluded his grasp: a long-delayed free trade agreement with South Korea, first negotiated by the Bush administration and then reopened by Obama, to have greater protections for US workers.
Yeah Wiseone, and manic, I can see how you missed it trough the selective reading you both tend to do these days.
Here, I'll post it again, and with only the relevant paragraph so that you can focus long enough to take it in.....
:lamo Is this guy Obama for real? He jets across the world to secure a pact that was already pretty much done for him by the previous administration, and in his arrogance manages to blow it up because he thinks he has a better plan. Then he goes to China and pretty much insults our biggest lender, and has the utter gaul to step out and say that he claims a "strengthened hand"?
Maybe he needs to submit to a drug test, because I think he is snorting drugs again. He is without a doubt the most inept President we have had in a long time...
j-mac
So if one day Obama or some future President manages to create a peace process or assist in one which actually leads to lasting peace between Palestine and Israel, all credit should go to Carter because the one who "first negotiated" the issue?
Also, do you know how much of these negotiations were done by Obama and how much were done by Bush? Who knows how much credit each deserves
The accord, signed in 2007 by negotiators for President George W. Bush, has languished in Washington as lawmakers complained about Korean barriers to exports of U.S. autos and beef. Ford Motor Co. and the United Auto Workers opposed the agreement and sought changes.
South Korean `No Deal' May Damp U.S. Trade Accords Prospects - Bloomberg
After the midterm election losses, Obama “must have been hoping he could come back from an international trip with at least something to at least be able to begin to rebuild,” said Tim Condon, head of Asia research at ING Groep NV in Singapore. “He wasn’t able to bring back the Korea FTA and he was roundly rebuffed at the G-20, so it’s going to be a long flight home for Mr. Obama.”
Obama disputed the notion that clashes over economic and monetary policy at the G-20 and the lack of a free-trade accord with South Korea represented setbacks for the U.S.
Obama Puts `Singles' Instead of Home Runs on Scoreboard in Asia - Bloomberg
Take a step back, and look at this post. Is this how an intelligent person opens a conversation on current events?
Puhleeze! Really? You do have Google don't you?
Its your responsibilty to back your own arguement. Besides you should ALREADY have a source which backs up what you claim as fact, otherwise your statement came from no where. So where's that source?
Do you have any intelligent input? Or just insults? go away.
j-mac
If that were the criteria for posting, the original post would not exist.
:2wave:
And some of you have the nerve to call the left whiners.
Good god.
Another day, another thread bitching about Obama.
And some of you have the nerve to call the left whiners.
What was it you guys said during the Bush years?
"He's the president, get over it"
Clearly someone is not following their own advice.
watch the video, it will tell you all you need know
RealClearPolitics - Video - Gergen: Obama Had A "Really Bad" Day
no one's spinning here, it's just the apologists aren't quite up on the latest happenings
some highlights from david gergen's little chat with parker/spitzer
how could the president walk into a g20 so uncertain as to its outcome, how could he set himself up for this center ring humiliation
gergen waves the nyt ("obama's economic views rejected on world stage")---this is a bad headline, he had a really bad day
trade with korea fell thru
international action concerning chinese currency rejected
further, he was actively criticized by china, germany, brazil, britain (not to mention france, russia, japan, thailand, south africa...)
bernanke's 600B pump
weakened at home and abroad
went to asia diminished, comes back a double whammy
like i said, no one's spinning, it's exactly what happened
how COULD he walk into a meeting with hu expecting cooperation and NOT foresee the horrible headlines that would appear next day after he failed to realize his fantasy
he literally does not know what he's doing, it shows in his every step
he's rank amateur
i'm very sorry
Good god.
Another day, another thread bitching about Obama.
And some of you have the nerve to call the left whiners.
What was it you guys said during the Bush years?
"He's the president, get over it"
Clearly someone is not following their own advice.
So after reading 3 pages its easy to tell no one here, including myself, truely understands the actual trade deal and what it may mean. We simply have those who dislike Obama using it to show he can't accomplish something, even though they don't even know what that something is.
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