After the failed promises of NAFTA, a job-destroying trade deficit that has burgeoned despite a long series of free-trade agreements, and ever-more-aggressive foreign mercantilism, we’re plowing ahead with even more of these agreements.

Fresh from passing the Colombia, Korea, and Panama free trade agrements, now Obama wants to move forward to the long-bruited but dormant proposal for a Trans-Pacific Partnership.

Not the man we voted for in 2008, is he?

The proposed agreement would embrace Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam to start. Eventually, its advocates hope, it will include every nation on the Pacific rim, including Indonesia, the Philippines, Japan, Mexico, Russia, and China.

Yes, you read that right. China.

Goes without saying that it’s a terrible idea, and I’ve made a video discussing why. See below:

Don’t look for any hope from the other side, by the way.

The only Republican that I believe wouldn’t do such things is self-confessed long-shot Buddy Roemer. Mit Romney has been sounding of late like he’d get tough on China if elected (I don’t know if he’s sincere), but he’s also commited himself to passing more trade agreements (and I must assume he means it).

Ian Fletcher is the author of the new book Free Trade Doesn’t Work: What Should Replace It and Why (USBIC, $24.95) He is an Adjunct Fellow at the San Francisco office of the U.S. Business and Industry Council, a Washington think tank founded in 1933. He was previously an economist in private practice, mostly serving hedge funds and private equity firms. He may be contacted at ian.fletcher@usbic.net.

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