World Bulletin / News Desk
President Donald Trump's rejection of multilateral trade agreements in the Asia-Pacific in favor of one-on-one deals is "doomed to failure," a noted US trade expert said Thursday.
The Trump complaint that the US gave up too much in the Trans-Pacific Partnership -- the regional deal he scrapped immediately after taking office -- defies the evidence, said Jeffrey Schott of the Peterson Institute for International Economics.
The institute, a long-time free trade advocate, created the benchmark study on the TPP which estimated the benefit to the US economy at over $100 billion by 2030.
Schott said that while the TPP can be improved upon, trading partners are unlikely to make as many concessions in a bilateral deal since the US market already is largely open to them.
"Trump's TPP critique is flawed, and the bilateral strategy to replace it is flawed and doomed to failure," he said at a forum to present his policy paper on the subject.
"China's regional dominance will grow very, very fast," cautioned Il SaKong, former Korean finance minister and head of the Institute for Global Economics in Seoul.
C. Fred Bergsten, a founder of the Peterson Institute and a former US Treasury official, said: "The US cannot absent itself from Asia and turn it over to China."
Schott argued that the 12-country pact pried greater concessions out of participating nations than would be possible in a bilateral deal.
"The US got paid not once but twice," he said, with concessions in each market and better investment an intellectual property rules "for helping them get better access via the TPP to the Japanese, Vietnamese and other markets than they would have been able to get on a bilateral basis."
Schott recommended the administration "go big," and negotiate an even bigger regional trade deal, improving on some areas, including enforceable rules on currency manipulation, which Trump and his economic advisers have repeatedly raised.
"Trump should take a mulligan and tee up a new and bigger and better Pacific trade deal," Schott said.
He recommended adding Korea and Colombia to the accord, since they already have bilateral trade deals with the United States, as well as Taiwan.
The 34-year-old retired National Guard lieutenant, who has yet to be identified, was beaten and shot to death by attackers Saturday night in the town of Cabudare in the western state of Lara, prosecutors said.
The meeting in Pretoria comes as Zuma faces growing criticism within the ruling African National Congress, which sharpened after a March cabinet reshuffle when he sacked respected finance minister Pravin Gordhan.
"It is my opinion that many of the leaks coming out of the White House are fabricated lies made up by the #FakeNews media," he wrote the morning after his return home.
"The times in which we could completely depend on others are on the way out. I've experienced that in the last few days," Merkel told a crowd at an election rally in Munich, southern Germany.
Gaza continues to suffer from a severe power crisis
Macron praised the DR Congo authorities "for their mobilisation and the effectiveness of their action" in obtaining the hostage's release, the office said in a statement, without identifying him.
And the US president flew home Saturday boasting he had "scored a home run" everywhere he'd been, saying he had forged bonds with friends old and new in the fight against terrorism.
The Libyan jihadist group Ansar al-Sharia, which is linked to Al-Qaeda and deemed a terrorist organisation by the UN and United States, announced its "dissolution" in a communique published online on Saturday. Washington accuses the group of being behind the September 11, 2012 attack on the US consulate in the eastern city of Benghazi in which ambassador Christopher Stevens and three other Americans were killed. Ansar al-Sharia is one of the jihadist groups that sprung up in Benghazi, Libya's second largest city, in the chaos following the death of dictator Moamer Kadhafi in 2011. They overran the city in 2014. East Libyan military strongman Khalifa Haftar earlier this month launched an offensive to oust jihadist fighters from their two remaining strongholds in Benghazi. In its communique Ansar al-Sharia said it had been "weakened" by the fighting. The group lost its leader, Mohammed Azahawi, in clashes with Haftar's forces in Benghazi at the end of 2014. Most of its members then defected to the so-called Islamic State group. Ansar al-Sharia later joined the Revolutionary Shura Council of Benghazi, a local alliance of Islamist militias. At its zenith, Ansar al-Sharia was present in Benghazi and Derna in eastern Syria, with offshoots in Sirte and Sabratha, western Libya. The organisation took over barracks and other sites abandoned by the ousted Kadhafi forces and transformed them into training grounds for hundreds of jihadists seeking to head to Iraq or Syria.
An initial investigation showed that Bonnie Kalanick, 71, died Friday after the boat she was in struck a rock in Pine Flat Lake near the central California city of Fresno, the Fresno County Sheriff-Coroner's Office said in a statement.
Since its golden age in the 1960s, Clacton-on-Sea in the southeastern English county of Essex has struggled to reinvent itself, a decline witnessed by 77-year-old John.
Counter-terrorism air raid hit terror targets in Avasin-Basyan regions
The king's prosecutor late Friday ordered "the opening of an investigation and the arrest of Nasser Zefzafi" after he "obstructed, in the company of a group of individuals, freedom of worship in the Mohammed V mosque in Al-Hoceima".
Saturday's protest in Caracas was held to mark 10 years since the government shuttered a popular television station seen as having anti-government leanings.
His announcement came as a summit of G7 leaders in Sicily wrapped up in deadlock on the issue, with US partners voicing frustration at the president's failure to commit to the deal aimed at stemming global warming.
A man aged in his thirties stepped onto the grave and kicked the base of a 1.5-metre (4.9-feet) -high stone cross at its head, causing the cross to topple over and break, they said.
Investigators also gave details of the 22-year-old's last hours as they appealed to the public for any information about his movements in the days running up to Monday night's attack.