In a striking blow to free(er) trade principles, a bill in the US House of Representatives died after failing to receive the two-thirds majority required under special House rules. The bill would have normalized trade relations with Vietnam, thus paving the way for a Vietnamese entry into the World Trade Organization.
President Bush is due to attend the Asia Pacific Economic Cooperation summit meeting in Hanoi next week. He had hoped to trumpet the passing of the bill as a milestone in opening up trade with the communist country. The Bush administration still has hopes for normalizing trade relations with Vietnam, although with the current political climate, it seems that the Republicans and Bush have a difficult path ahead.
This defeat is a setback for the global economy, especially with Asia trade relations. As demonstrated in the Chinese model, trade is a proven way to open closed societies and to further the influence of freedom and democratic principles. Normalized trade relations with Vietnam could have been the crack through which democracy could slowly infiltrate Vietnamese society.
For further reading:
A setback for Vietnam trade bill (IHT)
Vietnam trade bill fails in U.S. before Bush visit (Reuters)
House set to approve trade bill for Vietnam: lawmakers (Reuters)
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