Chris Patten: Obama’s Worrying Trade Stance

Nov 5, 2008

In 90-seconds, Chris Patten, Hong Kong’s last British governor, praises Obama’s election, but expresses deep concerns about the trade policies Obama stated on the campaign trail.

Patten, who has been traveling through the region to promote his new book What’s Next, went further in his remarks at The Foreign Correspondents’ Club, urging Obama to ignore “snake oil salesmen on Capitol Hill” who argue that the US loses when China gets wealthier.

Discussion

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Lane

Just within 90 seconds, the last governor of Hong Kong, known as Chris Patten gave praise to Obama’s victory in the elections although he raised his concerns regarding the recently stated trade guiding principles by Obama during the campaign period. By travelling via the region with an intention of marketing his recently launched book titled What’s Next, Chris gave further guidelines by asking Obama not to pay so much attention to the ‘snake oil salesmen on Capital Hill’ that insisted on arguing that the richer China gets, the more America suffer from loses. In my opinion, I think it is relatively odd for someone to challenge Obama by saying that his trade position as far as both trade and globalization is concerned is a deception.
Matthew Stinson

It's a little odd that the way to reassure people about Obama's position on trade and globalization is to say he's been lying all this time.

His stated positions:
* Renegotiate NAFTA
* Change America's bargaining position in the WTO towards protectionism
* Use threat of sanctions to push China for more RMB revaluation
* Punish China for dumping and exporting "poison toys" among other things

Patten is taking Obama at his word, I know Fons and others think he's just offering up talking points to make globoskeptic American morons and unionists happy. Me, I don't know...

I think the big signal we should wait for is to see who Obama picks for his SecState, SecTreas, and US Trade Rep. If these people are moderate Republicans or Clintonites, we can breathe a little easier on the trade front.
Ray

Thanks for the question and the interview, Tom.

Probably due to the success of the propaganda of Obama's camp, many people in Hong Kong seem to be supporting him. That's why they are happy about the result. (Or may be they just follow the trend - a way that Hong Kongers always do!)

As you and Mr Patten mentioned, Obama's attitude towards trade and protectionism is definitely a point which should get more attention, esp for China and Hong Kong.

Anyway, let's see. :)
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fonstuinstra

Most people in China seemed to have greatly ignored the election, apart from the expat community of course and a few people in the political scene. Trade is dropping anyway, that has nothing to do with Obama, and that seems a bit more troublesome.
thomascrampton

Fons,

His comments really catch a part of the mood I have seen here in Hong Kong.

Among those I have met since the election result, most are happy about his election, but the issue of Obama's trade stance repeatedly comes up.

Is it a concern you have heard much in China?

Tom
fonstuinstra

Hmm, nice catch, but he did not seem that worried.