India Slams US Global Hegemony By Scuttling Global Trade Deal, Puts Future Of WTO In Doubt

Tyler Durden's picture

Yesterday we reported that with the Russia-China axis firmly secured, the scramble was on to assure the alliance of that last, and critical, Eurasian powerhouse: India. It was here that Russia had taken the first symbolic step when earlier in the week its central bank announced it had started negotiations to use national currencies in settlements, a process which would culminate with the elimination of the US currency from bilateral settlements.

Russia was not the first nation to assess the key significance of India in concluding perhaps the most important geopolitical axis of the 21st century - we reported that Japan, scrambling to find a natural counterbalance to China with which its relations have regressed back to World War II levels, was also hot and heavy in courting India. “The Japanese are facing huge political problems in China,” said Kondapalli in a phone interview. “So Japanese companies are now looking to shift to other countries. They’re looking at India.”

Of course, for India the problem with a Japanese alliance is that it would also by implication involve the US, the country which has become insolvent and demographically imploding Japan's backer of last and only resort, and thus burn its bridges with both Russia and China. A question emerged: would India embrace the US/Japan axis while foregoing its natural Developing Market, and BRICS, allies, Russia and China.

We now have a clear answer and it is a resounding no, because in what was the latest slap on the face of now crashing on all sides US global hegemony, earlier today India refused to sign a critical global trade dea. Specifically, India's unresolved demands led to the collapse of the first major global trade reform pact in two decades. WTO ministers had already agreed the global reform of customs procedures known as "trade facilitation" in Bali, Indonesia, last December, but were unable to overcome last minute Indian objections and get it into the WTO rule book by a July 31 deadline.

WTO Director-General Roberto Azevedo told trade diplomats in Geneva, just two hours before the final deadline for a deal lapsed at midnight that "we have not been able to find a solution that would allow us to bridge that gap."

Reuters reports that most diplomats had expected the pact to be rubber-stamped this week, marking a unique success in the WTO's 19-year history which, according to some estimates, would add $1 trillion and 21 million jobs to the world economy.

Turns out India was happy to disappoint the globalists: the diplomats were shocked when India unveiled its veto and the eleventh-hour failure drew strong criticism, as well as rumblings about the future of the organisation and the multilateral system it underpins.

"Australia is deeply disappointed that it has not been possible to meet the deadline. This failure is a great blow to the confidence revived in Bali that the WTO can deliver negotiated outcomes," Australian Trade Minister Andrew Robb said on Friday. "There are no winners from this outcome – least of all those in developing countries which would see the biggest gains."

Shockingly, and without any warning, India's stubborn refusal to comply with US demands, may have crushed the WTO as a conduit for international trade, and landed a knockout punch when it comes to future relentless globallization which as is well known over the past 50 or so years, has benefited the US first and foremost.

Broke, debt-monetizing Japan, which as noted previously, was eager to become BFFs with India was amazed by the rebuttal: "A Japanese official familiar with the situation said that while Tokyo reaffirmed its commitment to maintaining and strengthening the multilateral trade system, it was frustrated that such a small group of countries had stymied the overwhelming consensus. "The future of the Doha Round including the Bali package is unclear at this stage," he said."

Others went as far as suggesting the expulsion of India:

Some nations, including the United States, the European Union, Australia, Japan and Norway, have already discussed a plan to exclude India from the agreement and push ahead, officials involved in the talks said.

However, such a move would clearly be an indication that the great globalization experiment is coming to an end: "New Zealand Minister of Overseas Trade, Tim Groser, told Reuters there had been "too much drama" surrounding the negotiations and added that any talk of excluding India was "naive" and counterproductive. "India is the second biggest country by population, a vital part of the world economy and will become even more important. The idea of excluding India is ridiculous." ... "I don't want to be too critical of the Indians. We have to try and pull this together and at the end of the day putting India into a box would not be productive," he added.

And yes, the death of the WTO is already being casually tossed around as a distinct possibility:

Still, the failure of the agreement should signal a move away from monolithic single undertaking agreements that have defined the body for decades, Peter Gallagher, an expert on free trade and the WTO at the University of Adelaide, told Reuters.

 

"I think it's certainly premature to speak about the death of the WTO. I hope we've got to the point where a little bit more realism is going to enter into the negotiating procedures," he said.

But the one country that was most traumatized, was the one that has never before been used to getting a no answer by some "dingy developing world backwater": the United States, and the person most humiliated, who else but John Kerry.

"U.S. Secretary of State John Kerry told Prime Minister Narendra Modi on Friday that India's refusal to sign a global trade deal sent the wrong signal, and he urged New Delhi to work to resolve the row as soon as possible." "Failure to sign the Trade Facilitation Agreement sent a confusing signal and undermined the very image Prime Minister Modi is trying to send about India," a U.S. State Department official told reporters after Kerry's meeting with Modi.

Wrong signal for John Kerry perhaps, who is now beyond the world's "diplomatic" laughing stock and the man who together with Hillary Clinton (and the US president) has made a complete mockery of US global influence in the past 5 years. But just the right signal for China and of course, Russia.

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DoChenRollingBearing's picture

It looks like we would be smart to put in larger bearing orders now.

knukles's picture

You think this'll have a bearing on that?

DoChenRollingBearing's picture

Short-run?  No, at least for Korea, Japan and Peru.  Longer-term?  China, ahh, I dunno, probably not as Peru is not hated.

EDIT: I did see that horrible pun in there...

Manthong's picture

All in all, it’s just another BRIC through your wall.

john39's picture

usury empire crumbling... 

BaBaBouy's picture

Physical GOLD Currency Will Resolve These Issues!

knukles's picture

BTW... was not Kerry actually physically in India last week chatting them up about or very serious wonderful ling term closely held mutually beneficial relationship that transcends all other matters, temporal and spiritual?

Go John!

Kinda like NYC bio drills... right when everything said about Ebola was no biggie?
And every time there are these fucking drills.....

kliguy38's picture

yeah but he just wanted to make sure the Hindis didn't buy anymore gold......he promised to shower them with dollars from heaven.... looks like they said go fuck yourself horseface

Son of Loki's picture

Please pass the Ladoo's ....

 

 

outamyeffinway's picture

Modi: a man with morals? Gasp? Prolly not but you never know.

Zwelgje's picture

Maybe the NSA got nothing on him?

ZerOhead's picture

If not yet then they will certainly be planting something on him soon.

As we all know it's standard operating procedure for the NSA these days. For all we know they have inter-office competitions and bonus awards for the most outrageous frame-ups that stick...

Keyser's picture

If the spooks from the CIA get involved, it's nail gun time.... Woohoo...

SAT 800's picture

That is precisely the issue. Is the "leader" in charge in a given country a sock puppet, or a patriot? None of these people are stupid enough to believe the WTO is going to do their countries any good; quite the contrary. What we find out when they go along, or not; is whether or not they've been bought. Or stayed bought.

Chief Wonder Bread's picture

a small clarification:

Shockingly, and without any warning, India's stubborn refusal to comply with US demands, may have crushed the WTO as a conduit for international trade, and landed a knockout punch when it comes to future relentless globallization which as is well known over the past 50 or so years, has benefited [DC/WallSt] first and foremost.

SWRichmond's picture

The global hegemon is so accustomed to getting its way...they really don't know what to do except start another war.

Keyser's picture

And Obama was just on the tube stating that short of going to war, there is nothing else the US can do to Russia... Act II on the way...

SidKhadak's picture
India US Puppet Show On WTO Deal While India is threatening not to ratify the agreement in reality it has already made budgetary provisions for facilitating trade. Finance Minister Arun Jaitley has provided in his budget for Rs 110,000 million for development of ports and at the same time announced a single window clearance for imports. So, the threat for not ratifying trade facilitation treaty is in reality an empty threat. India US Puppet Show On WTO Deal
curbjob's picture

Who woulda thunk,

Black swan tiki masala !

AllWorkedUp's picture

Yep, the rest of the world is finally rejecting the tribe owned US and its filthy usurious, warmongering, unscrupulous, morally bankrupt, deviant ways.

Hard to believe we allowed the filthy parasites to take control of our country.

Raymond K Hessel's picture

Enjoy waiting in line for some vodka and TP.

AllWorkedUp's picture

Well the world is waking up to the fact that the tribe is non-human. Most likely lacks human DNA. So, if all it takes to rid ourselves of non humans and live in a world of respect, peace and a lack of filth, is to wait in line for food and Vodka for awhile, then me and my family are in. I'd rather my generation starve than our kids live under the tribe's control.

kchrisc's picture

"usuary empire"

Awesome choice of words and phrase.

Juno Rock's picture

Put a nail in it $ and call it done.

power steering's picture

May they discover a fruit bat rookery in their attic!

power steering's picture

May they discover a fruit bat rookery in their attic!

sunnydays's picture

I expect Pakistan to now start a war with India in earnest and a Malaysian plane fly over India with it being shot down and the U.S. accusing India of shooting it down and thus a war begin between the U.S. and India.  India will be declared a terrorist state/country by the U.S. and EU and Australia. 

Ignatius's picture

9/11 Truth goes prime time (almost).

C-SPAN today with Architects and Engineers for 9/11 Truth:

http://www.c-span.org/video/?320748-5/washington-journal-architects-engi...

Bastiat's picture

That's a BIG turn of events.

Monty Burns's picture

Wow, now THAT is amazing! I've always said that the truth about 9/11 is the linchpin that will bring the whole rotten edifice of lies crashing down. The crime itself and the outcome (whereby the perps became the good guys) are grotesque enough to unass even the American Public.

I see heavy heavy heavy pressure being applied to C-Span on this.  Major advertisers departing etc.  We live in interesting times.

Duffy's picture

9/11 truth is a road that leads not only to the highest levels of the US government, and Pentagon, but to Israel and a cabal of its sayanim.

 

Many of whom are still quite active.

 

Monty Burns's picture

Of course, but slowly does it.  Mr. Gage did an excellent job. Despite invitations from viewers to speculate about the conspiracy and conspirators he resolutely held to his position that his organization's objective is narrowly focused on proving that WTC 7 was brought down by a controlled demolition. That's all that's needed for now because if and when that gets generally accepted the whole conspiracy will fall apart like a $100 suit.

Keyser's picture

I was watching the video on CSPAN and it stopped mid-stream... Now it won't play at all... Things that make you go hmm.... 

tenpanhandle's picture

same exact experience here, also.

JohninMK's picture

Same here in the UK. Had to relaod it and restart in the middle. Then it ran to the end OK.

What was in WTC7 than needed to vanish?

kchrisc's picture

For those that aren't in the know:

Buildings 1 and 2 were each actually two towers in one. There was a steel and concrete core tower that supported about 60% to 70% of each floor's weight and then an outer steel frame that supported the rest. The core took up about 40% of each floor's space. Each floor was supported by trusses connected to the core and the outer steel frame.

Therefore there could not have been a "pancake" collapse as each floor was really a "donut." Additionally, the core would have been a huge "break" on any collapse induced from above as its steel and concrete would have absorbed energy from the collapsing upper floors.

The "donut" configuration of each floor would have also made a uniform and symmetrical collapse of each floor impossible. However, assuming that they did come down in a "pancake" like and symmetrical fashion, then the core would have protruded like an erection, as each floor broke free and slid down the core. The core might have broken off occasionally, but would have been quite visible.

The official story of WTC 7's is even more absurd. This was a steel frame building. That means that is was literally a huge cube of interlocked steel beams on which the floors and outer shell were hung off of. If a fire had damaged joints in, say a corner of a floor, then that area would have collapsed/sagged. The whole entire building would NOT have collapsed in one total free-fall mass--just not possible.

 

"It's not a lie if it's bullshit."

Ignatius's picture

In an interview ME Tony Szamboti said that the total cross-sectional area of the combined steel of the columns in WTC1 at the point of the collapse (93rd flr) was 6 meters square.  Put two full size sheets of 4x8 plywood together side by side to represent that amount and that's a little less than how much steel there was to resist collapse if it were a single solid column.  Even if one buys that all the columns on one floor could fail simultaneously the "collapse" would have been arrested and held and not progressed to the ground.

Joenobody12's picture

Thanks for posting the message and the link. I used to ignor the 9/11 conspiracy story but the name "c-span" caught my attention and I watched the whole thing. I am a scientist by training and I have no alternative but to agree with the evidence presented. 

Who benefited from this crime ? 

sgt_doom's picture

Now how do you like that?

Corporate Amerika, following the orders of the banking cartel, offshored all the jobs, technology and investment to India and China, and they both turn around and stab the Hegemons in the back!

Outstanding!!!!!!!!!!!!

junction's picture

That arrest and strip search of an Indian diplomat last December is bearing strange fruit now.

New York (CNN) 17 March2014 -- The Indian diplomat whose arrest sparked a diplomatic row with India has again been indicted by the federal government and faces arrest if she returns to the United States, federal prosecutors said Friday.

Devyani Khobragade faces one count of visa fraud and one count of making false statements for allegedly lying on a visa application about how much she paid her housekeeper, according to the indictment filed in a Manhattan federal court Friday.

An arrest warrant also was issued, said Jerika Richardson, spokeswoman for the United States attorney's office for the Southern District of New York.

The fresh indictment comes just days after the original indictment against Khobragade was dismissed by a federal judge who agreed with her lawyers' assertion that she was protected under diplomatic immunity at the time of the first indictment.

Federal prosecutors signaled Monday that a new indictment was likely.

Khobragade, who left the United States in January, now works for the Indian Ministry of External Affairs in Delhi.

Her attorney, Daniel Arshack, declined comment Friday. "The government of India will respond in due course," he said in a statement.

She was originally arrested and strip-searched by federal agents in New York City in December 2013. On January 9, a federal grand jury indicted her on one count of visa fraud and one count of making false statements, the same charges she now faces.

Khobragade filed a motion to dismiss the charges, claiming she was "cloaked in diplomatic immunity at the time of her arrest," according to court documents.

A federal judge agreed on Monday, ruling that Khobragade was "appointed a Counselor to the Permanent Mission of India to the United Nations, a position that cloaked her with full diplomatic immunity," according to court documents. She was appointed to that position on January 8, one day before her first indictment.

"Even if Khobragade had no immunity at the time of her arrest and has none now, her acquisition of immunity during the pendency of proceedings mandates dismissal," U.S. District Judge Shira Scheindlin wrote.

"The government may not proceed on an indictment obtained when Khobragade was immune from the jurisdiction of the court," Scheindlin ruled.

kchrisc's picture

Looks like Gulag US is running out of domestic folks to incarcerate.

 

Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
So I can jail 'em and forever close the door!

nidaar's picture

Et Tu, Brute (India)?

Miles Ahead's picture

Speaking of turncoats (Brute) if and when WWIII kicks off, you are going some surprising "turncoats" from within the NATO ranks.  Either sitting it out, or siding with the "enemy".  Just watch... Caesar will be in for a surprise.

sgt_doom's picture

S'right!

My prediction:  Germany, Greece, Portugal, Spain, and Iceland.