{"id":11133,"date":"2011-11-10T03:11:01","date_gmt":"2011-11-10T03:11:01","guid":{"rendered":""},"modified":"2011-11-10T03:11:01","modified_gmt":"2011-11-10T03:11:01","slug":"Obama-turns-attention-to-economic-opportunities-in-Asia","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=11133","title":{"rendered":"Obama turns attention to economic opportunities in Asia"},"content":{"rendered":"

As the U.S. economy struggles with a $15 trillion national debt, 9% unemployment and a possible recession in Europe, President Obama will spend the next week in a place that could be part of the solution: Asia.<\/strong><\/p>\n

Since coming to office nearly three years ago, Obama has made clear his intention to focus U.S. foreign policy much more on the Asia-Pacific region he grew up in.<\/strong> His secretary of State, Hillary Rodham Clinton, recently called this “America’s Pacific Century.”<\/p>\n

For good reason:<\/strong> More than half the world’s economic activity is in countries bordering the Pacific Ocean. More than 60% of U.S. exports went to the other 20 Asia-Pacific Economic Cooperation (APEC) economies last year, supporting about 4 million U.S. jobs.<\/p>\n

The loose-knit organization of 21 economies includes six of the 10 largest U.S. trade partners:<\/strong> Canada, China, Japan, Mexico, South Korea and Taiwan.<\/p>\n

So the president’s trip is mostly about expanding U.S. trade and continuing to grow its economy<\/strong> \u2014 something Obama is having more difficulty doing at home with an uncooperative Congress. Because of that, some have suggested he cut the trip short.<\/p>\n

“The president is focusing on jobs at home by trying to create more international trade,” says Jim Bacchus, a former Democratic congressman from Florida and chief judge of the World Trade Organization. “It’s certainly the right place for us to focus much of our attention.”<\/p>\n

This is VERY TELLING! Asia + US and back again!<\/strong><\/p>\n

Source USAToday.com<\/a>
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