Mr. Obama was endorsed in part because he had surrounded himself with enough intelligent centrists. It also said that the eventual success of Mr.Obama ‘s presidency would be based on two things: resuscitating the world economy; and bringing the new emerging powers into the Western order. He has now hurt both objectives.
The decision that the U.S. goernment made on Sep.11th to slap a 35% tariff on imported Chinese tyres was an awkward decision; completely contrary to Obama’s re-affirmed earlier: to avoid a serious commitment to trade protectionism in times of economic crisis. In addition, the move of the Chinese tire levy punitive tariffs is extremely a huge political mistake, confirming his critics’ worst fears about the president’s inability to stand up to his party’s special interests and stick to the centre ground he promised to occupy in office.
What I find meaningful is Mr.Obama’s Leftward trend, which makes a coincidence with this and last week’s topics in class. However , one is history, while the other is nowadays reality. “Evidence of a weak president being pushed leftward might cause investors to worry whether he will prove similarly feeble when it comes to reining in the vast deficits he is now racking up; and that might spook the buyers of bonds that finance all those deficits.”
The following link is the original cover story of The Economist, Sep.19th