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Reply #15: The purchasing power of the US has been eclipsed by the EU. [View All]

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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-09-07 11:12 PM
Response to Reply #11
15. The purchasing power of the US has been eclipsed by the EU.
Edited on Fri Nov-09-07 11:12 PM by mmonk
They control how US based corporations do business there and usually win disputes at the WTO. Even Jack Welsh of General Electic came to that conclusion when he tried the merger with Honeywell and the EU shot it down. From his words, "We have to do business with Europe, so we have no choice but to respect their law. That really is just the way the world works now". International beligerence is doing and will continue to do more harm. This dream of a world free trade zone controlled by US corporations enforced by coercion and violence won't work in the long run and will make us implode. We need to be smarter, or we can kiss our position in the global economy good bye.
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