King in Taiwan Business TOPICS

Commentary: Helping Yourself to be Helped
Helping Yourself to be Helped


Trade's a dirty word in Washington these days. Congress did not renew President Bush's authority to submit trade bills for a simple up-or-down vote, and free trade agreements (FTAs) with Panama and Peru are stalled. Several senators have also already announced their opposition to an FTA with South Korea. U.S. unemployment is low, but real wages have been stagnant for years and the cost of healthcare is too much for many to bear. Trade, especially with mainland China, is an easy scapegoat. But oddly enough, in Taiwan's case, the usual political rules of thumb about trade don't seem to apply.

A vote on the Korean FTA is still months away, but Senator Hillary Rodham Clinton of New York has already labeled the agreement inherently unfair. Granted, this FTA is underwhelming in key areas, namely autos, beef, and rice. It's also presidential primary season, and Democratic frontrunner Clinton fears populist challenges from Illinois Senator Barack Obama and former vice presidential candidate John Edwards. Key constituencies in her party, chiefly organized labor, are anti-trade like never before. But Clinton does represent a state with the second-largest Korean-American population. That she can so flatly denounce a deal with Korea, without fear of any repercussions, only reinforces the notion that trade for the moment is a safe political target.

But Korea's just for starters.

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