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US PRESIDENT Barack Obama came under fire on Saturday from Asia-Pacific leaders for backsliding on free trade at a regional summit devoted to driving the world economy out of crisis.
'President Obama is facing severe political constraints that run counter to free trade,' Mexican President Felipe Calderon said, complaining about US foot-dragging on full implementation of the NAFTA pact for North America. 'The cruel paradox is that within a global economy, what really kills companies is inefficiency and lack of competition. Therefore protectionism is killing North American companies.
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'President Obama is facing severe political constraints that run counter to free trade,' Mexican President Felipe Calderon said, complaining about US foot-dragging on full implementation of the NAFTA pact for North America. 'The cruel paradox is that within a global economy, what really kills companies is inefficiency and lack of competition. Therefore protectionism is killing North American companies.
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