Saturday, November 5


Interesting essay on why Bush's foreign policy is increasingly hurting U.S. business and may even tip American CEO's towards supporting a Kerry or Clinton-like Dem.

Increasingly, the business press is suggesting that corporate leaders, who once hoped the current administration would push the corporate globalization of the Clinton years to new heights, now fear another fate from the international order Bush has created. Tax cuts and deregulation on the domestic front have been obvious bonuses, but otherwise many U.S. multinationals face a troubling scene. The White House's failed CEOs have pursued a global agenda that, at best, benefits a narrow slice of the American business community and leaves the rest exposed to a world of popular resentment and economic uncertainty.
In this context, it's not surprising that Republican "realists" like Brent Scowcroft (who warned in a Wall Street Journal op-ed before the war that "it undoubtedly would be very expensive -- with serious consequences for the U.S. and global economy") are making noise again. And it would make perfect sense if an increasing number of those Bush CEOs were by now pining for a return to Clinton-style multilateral globalization of a sort still held out by the defeated Senator from Massachusetts and many other Democrats.

Neither of these alternative camps will seem particularly appealing to progressives, but they pose a genuine threat to the imperial globalists who seem incapable of extracting themselves from Iraq. Indeed, intra-party rivalry among the Republicans -- which is likely to increase as we enter an election year -- could play a vital role in turning White House hawks into dead ducks. All the better if this avian transformation is sped by dissatisfaction from corporate leaders reevaluating the costs of Bush foreign policy and deciding that empire just doesn't pay.

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