Vice President Joe Biden, speaking at Friday’s Export-Import Bank Conference, called for a “new world order” with changed financial rules, a “level playing field,” and a financially powerful China.
This comes not long after the so-called BRICS countries — Brazil, Russia, India, China and South Africa — announced plans to set up a rival to the U.S.-dominated International Monetary Fund and World Bank. Most analysts expect the arrangement to be led primarily by China.
It also coincides with the Obama Administration’s military buildup in Asia in response to sabre-rattling by North Korea.
As Biden explained it, “Because the global order is changing again, and the institutions of the world worked so well in the post-World War II era for decades, they need to be strengthened, and some need to be changed.
“So we have to do what we do best, we have to lead. We have to update the global rules of the road, we have to do it in a way that maximizes benefits for everyone, because obviously, it’s overwhelmingly in our interests. This is not a zero sum game, it’s overwhelming our interest, that China prosper, that Mongolia prosper, that nations big and large, East and West (prosper). We have to level the playing field so that companies and workers can compete in the world, that the competition is fair and it’s healthy.”
So, in translation from Bidenspeak to English, the Western-dominated financial system needs to be changed because China and Russia have their act together and we don’t, and the best the Administration hopes for is that the United States is just one among many countries, with nobody better off than anyone else.
I’m not sure where Biden learned his math, but if no country has an edge over another or anything to make it stand out from the crowd, then that doesn’t seem like much of a competition. The American Dream used to be that anyone could stand out and that individual success would have the effect of “lifting all boats.” A level playing field meant a fair environment in which to begin competing. Biden seems to see it as an end goal. Under the Obama Administration, the American Dream’s apparently been changed to “Participation” ribbons for all.
This comes in conjunction the Administration’s “pivot to Asia” policy, which is basically loosening ties to our traditional allies in Europe and Israel, and looking to build relationships in Asia.
Why else would the Administration suddenly be responding to North Korea’s latest spasm of attention seeking, when the White House has ignored past provocations? Obama may be trying to impress potential Asian allies with the sudden U.S. commitment to the region.
More concerning is the Administration’s apparent ceding of our and the world’s future to China.
Manchurian Candidate, anyone?