“Economics and the Rebalance”
Matthew P. Goodman
Global Economics Monthly
Volume II, Issue 12
To this point, discussion of Obama’s strategic pivot to East Asia has focused primarily on the military and political aspects of that shift. But as Matthew Goodman of CSIS notes, the administration has placed economics at the center of the rebalance, and has made its biggest bet on the Trans-Pacific Partnership (TPP), the trade agreement designed to link Asia and the Americas in a free-trade zone.
Goodman is emphatic: based on Obama’s approach, success of the economic end of the pivot – and of the pivot itself – depends on success of the TPP:
Without TPP, the rebalance would contain little of substance that is new and would be perceived in the region as driven primarily by military considerations.
What is more, success of the TPP depends, he notes, on Congress getting behind it. Thus, it stands to reason, the success of the pivot depends on Congress. Goodman offers recommendations for the Congress, but gently dodges the elephant in the room: will the Republicans in Congress support anything that is important to the President?
A thoughtful read, and one that offers persuasive food for thought on the administration’s Asia foreign policy.