Mutinous grumblings can be heard not only from ordinary Canadians and the rest of the world alarmed at protectionist policies of Obama's America, but also from the likes of Stockwell Day and Gordon Brown. Labelling the 'Buy American' clause as completely protectionist, leaders and citizens are screaming bloody murder.
But, says a columnist in the Star, NAFTA actually does have a provision which allows USA to insert this protectionist clause in trade pacts.
Which sucks, because now, the protests can lose their bite. Maybe iron and steel producers can organize a facebook signature campaign to promote their cause. Don't laugh - Obama himself knows well the power of the Internet (ask his admin officers, pre-election).
Interestingly, news emerging from Davos indicates how American bankers were verbally lynched by the world economic community. Firstly, there were very few Wall Streeters who actually attended the Forum. Most stayed away. A wise, if cowardly, move. Only the CEO of JP Morgan attended and was apologetic about his ilk.
Many of the economic gurus of the world of finance and banking did nothing to mince words. They outright condemned what the American investment bankers did. I'm guessing there weren't a lot of smiles and fine bonhomie among the attendees, and the banking community watching in America.
And then you have red-faced bankers from Canada's own RBC, BNS and others, giving up their bonuses/compensation, just like brave little soilders. Oh my, what magnanimity of gesture! Perhaps when they go home to their million dollar mansions in Toronto's posh localities, they can look at themselves in the huge mirrors and feel a warm glow.
They might, at that moment be thinking, "Thank god, Davos isn't the only part of Switzerland we know!"
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