ISDS Case Map
geopolitics
A free trade agreement (FTA) between the United States and Malaysia, in its final round this week, has run into opposition from trade unions and also from U.S. lawmakers opposed to an energy deal struck between this country and Iran.
A senior US trade official on Tuesday dashed Taiwan's hopes that Washington could enter into negotiations on a US-Taiwan Free Trade Agreement (FTA) anytime soon, and said that Taiwan would have to gain strong support from the US business sector and Congress before an FTA could ever be considered.
FTAs are increasingly being regarded by many countries as Washington's economic analogue of a nuclear bomb.
Trade Minister Rafidah Aziz told Washington to stay out of Malaysia's affairs and warned the government will not bow to any threats, the Malay-language Utusan Malaysia reported. "I am ready to advise the government to cancel the FTA discussions immediately," she was quoted as saying.
A key US lawmaker on Wednesday called on the administration of President George W Bush to suspend free trade talks with Malaysia in protest over its mega energy deal with Iran.
Presidents including Ecuador's Rafael Correa, Venezuela's Hugo Chavez and Bolivia's Evo Morales are bypassing the US in reaching trade accords and strengthening diplomatic and commercial ties with nations that compete with, or are hostile toward, US interests.
China and Japan are locked in a rivalry over at least three flashpoints: Free trade agreements, particularly in the region; oil energy; and Taiwan.
An influential Republican senator has asked President George Bush to negotiate a full scale free trade agreement with India following the successful conclusion of the India-US civil nuclear deal.
Japan is revving up its drive toward free-trade agreements (FTAs), a move largely fueled by an intensifying rivalry with China over leadership in regional economic integration and increasingly tough global competition for oil, gas and other resources.
An exciting development is the number of new South-South inter-governmental alliances that are emerging to defend their interests and challenge the bias of the current global trade and investment regime.
