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Daphine Zulu
Correspondent
Since inception, the World Trade Organisation (WTO) has just been an umbrella term synonymous with global world trade, yet for cunning politicians, it is the alpha and omega of all essential international trade deals.
According to the IMF data, China overtook the US as the world’s largest economy in 2014 on a PPP basis, and predicts that by 2024, China’s economy will be 56 percent larger than the US economy on a PPP basis. Could this prediction have been true? And is it by any way affecting the US’ way of conducting business?
Given China’s friendly proximity and business ventures in Africa, this then explains, the US’ impromptu decision to oppose Dr Ngozi Okonjo-Iweala as next head of WTO.
Despite the former Nigerian finance minister winning an overwhelming backing from most of the WTO’s 164 members, ahead of her South Korean rival, Yoo Myung-hee, America is still contesting! One wonders at America’s motivation in objecting this nomination.
The WTO is the principal forum for setting the rules on international trade. It facilitates trade negotiations among 164 members and monitors the implementation of trade agreements, producers’ research on global trade band economic policy, and serves as a forum for settling trade disputes between countries — as such, a very significant tool in manipulating export deals, a pact which any intelligent country would die for.
The recent move by America to oppose the appointment of Nigerian first female-elect for the global trade body’s top job speaks to its hypocrisy.
In fact, it should be a lesson to wanna-be democrats on how America will always pursue its America First dream, at any expense.
The “America First” is a slogan used by President Woodrow Wilson during the United States presidential election in 1916, later to be revisited by current US President, Donald Trump during his 2017 inauguration.
And this selfish dream to always be the first, till this very day is the main reason the US is opposing, Okonjo-Iweala’s nomination, how democratic!
America has got to wake up to the new multi-polar predicament for it to remain first among equals, as it clearly remains a haunting predicament leading to the US’ machinations to cling on to what’s left of its power to reclaim global economic giant, despite economic trends having shifted.
The US has always established and pursued its own interests whatever the impact on its allies and partners.
The US is not isolationist or even less interventionist, but serving its global interests.
Instead of fighting this nomination, more than ever, the US actually needs to strengthen its ties with its allies as well as try to cooperate with Russia and China and not to further trade friction through opposing the emerging economic giants.
The theory of hegemony best describes most contemporary wars being wedged by the US against the world due to its quest to maintain strong influence over other nations, and perpetuate its ideal economic ideologies.
According to Gilpin’s theory of the evolution of a global system (and earlier international systems) governed by a dominant power by virtue of its military and economic strength, he offers the most comprehensive definition of hegemonic war.
It involves “a direct contest between the dominant power and/or powers in an international system and the rising challenger or challengers.”
Whether intended or not, the US’ hegemonic war to determine who governs the international system and whose interests are primarily served is what the country is battling with.
For instance, most wars wedged against Islamic states have much to do with the US intending to pursue its economic interests. Another example is the war in Afghanistan, the US continues its 16-year-long battle against the Taliban, the Haqqani network, Al Qaeda, and the Islamic State in the name of hunting down terrorists though of course, it’s an excuse to perpetuate its dominance ideologically and economically (oil reserves).
By tradition, the WTO chooses its director general by consensus, with all the 164 members having to approve a candidate.
Dr Okonjo-Iweala’s nomination and becoming the first woman and first African to be director of the global trade watchdog would not have come at any better time for the African continent, as it has been long overdue to have one with the continent’s interests at heart.
The past years had always furthered the interests mainly of the US. And of course, information at hand suggests that she had backing from countries in the Caribbean, Africa, the European Union, China, Japan and Australia, and not America.
The deliberate attempt to sabotage this nomination is probably inspired by the usual trade wars between the US and China is unrepairable because it largely emanates from the two countries’ different civilisation backgrounds. While the US follows the western civilisation and would have preferred the world to follow their footsteps, China is grounded in the sync civilisation and their economy seem to be growing exponentially without necessarily going through the industrialisation stages which America went through and purported to be a key ingredient for any nation’s economic prospects, hence posing a threat to American ideology.
This has resulted in a trade battle between these two countries, with US and China announcing trade tariffs on each other’s imports, all in an effort to cripple one another’s economic prowess.
According to ABC News reporter Joe McDonald, “The US-China trade war escalated further with China announcing retaliatory tax increases on US$60 billion worth of US imports, including coffee, honey and industrial chemicals.”
The increase was as a response to the US’ prior announcement that it would impose tariffs on US$200 billion worth of Chinese-made goods the previous day.
But should a capable candidate be denied a rightfully deserved position simply because the US wants to further pursue their political hegemony over the world. Food for thought!
It is plain for all to see that America is currently shaken by the course of events and will do anything to ensure that their economic powerhouse is not further shaken.
Online Reporter