U.S. President Barack Obama travels to Europe next month to start formal negotiations on a trading bloc that would dwarf any the world has seen. He should look for ways to integrate Turkey into this new order.
Trade between the U.S. and the European Union still accounts for a third of everything the world imports and exports, at $645 billion last year. Foreign direct investment between the U.S. and the EU is more than $3.7 trillion. So in the depths of a global economic crisis, no wonder people are excited about the potential boost to growth this would provide.
Yet before thrashing out the details of the new Transatlantic Trade and Investment Partnership, Obama and his EU counterparts should consider the tough situation it would create for other close allies and trading partners, who won’t be at the bargaining table.… Seguir leyendo »