President Trump and the U.S. economic team have held a policy perspective that the World Trade Organization (WTO) is no longer a useful functioning body to mediate global trade issues.  At the center of that view are two issues:

First that WTO rules and regulations do not support American economic interests; and secondly, that WTO processes still provide China with favorable benefits as an “emerging nation” despite their scale. As a result the Trump administration has been positioning for a withdrawal from a dysfuctional WTO.

In an effort to keep the WTO intact, British Prime Minister Boris Johnson has nominated a pro-Brexit/pro-America trade minister, Liam Fox, to become the next Director General.

(Via Fox News) – The British government on Wednesday announced that it was nominating former International Trade Secretary Liam Fox to head the World Trade Organization – selecting a strongly pro-Washington candidate at a time when the U.S. is debating quitting the trade body.

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In a statement earlier today, Commerce Secretary Wilbur Ross has announced the U.S. is revoking the special trade status of Hong Kong in response to escalating encroachment by China in violation of the prior agreement for autonomy.

It is a challenging status to modify because the administration does not want to reduce the ability of Hong Kong to operate as an autonomous economic region.  However, at the same time Beijing is taking control of all systems within Hong Kong and as such policies must be adjusted.  It would be an exercise in futility to expect China to retreat.

Chris McGlade recites his 2018 poem “The Right To Hate”, from his hometown in the north of England.  A working man’s view of left-wing intolerance.

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U.S. Trade Representative Robert Lighthizer and U.K. Secretary of State for International Trade Elizabeth Truss announced today [joint statement] the beginning of a series of fast-tracked trade negotiations toward a new free trade agreement. [USTR Release]

In the foreground is a trade agreement between the U.S. and the United Kingdom. However, in the more strategic background context these negotiations create leverage for the U.K. in their post-Brexit negotiations with the European Union. First from today:

LIGHTHIZER – […] The US negotiating team will be led by Dan Mullaney, Assistant U.S. Trade Representative for Europe and the Middle East; and the UK negotiating team will be led by Oliver Griffiths, Director for US Negotiations at the Department for International Trade. Over 200 staff from U.S. and UK government agencies and departments are expected to take part in the negotiations.

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Good news on Easter Sunday.  British Prime Minister Boris Johnson has been released from the hospital after a rather lengthy struggle fighting COVID-19.

Following a week at St Thomas’s Hospital with coronavirus – including three nights in intensive care – Prime Minister Boris Johnson stopped by his office at 10 Downing Street to record a message to the nation. [Media Report]

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Very good news.  Keep the prayers going; it works.  The latest reports from the U.K. indicate positive health improvements for Prime Minister Boris Johnson.

(Via Daily Mail) Boris Johnson is ‘improving’ in hospital after two days in intensive care battling coronavirus, Chancellor Rishi Sunak revealed this afternoon.

In news that will come as a relief to the nation he said that the Prime Minister had also been sitting up in bed after two nights in St Thomas’s Hospital in London.

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Prayers increase as British Prime Minister Boris Johnson’s condition has worsened and he was moved into intensive care this afternoon to receive oxygen treatments.

U.K. – Prime Minister Boris Johnson has been moved to intensive care after his coronavirus condition worsened, Downing Street announced tonight.

The Prime Minister was transferred to the ICU at St Thomas’ Hospital in London at 7pm this evening – 11 days after testing positive for the deadly disease.

He remains conscious and Number 10 sources stressed he had been moved to the critical care unit as a precaution should he require a ventilator.

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British Prime Minister Boris Johnson has been taken to the hospital for treatment as he battles coronavirus. “On the advice of his doctor, the Prime Minister has tonight been admitted to hospital for tests. This is a precautionary step, as the Prime Minister continues to have persistent symptoms of coronavirus ten days after testing positive for the virus,” Downing Street said.  Prayers for his recovery.

Meanwhile Queen Elizabeth II addressed the nation:

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…there had to be a point where the value of the Wall St economy surpassed the value of the Main St economy… Part I Here

We now look forward, and consider the question: How would the multinational underwriters, the multinational financial systems, reset all transactional tables (the bookkeeping systems underneath the valuation) if the U.S. stock market was ever forced to re-value economic nationalism over multinational globalism?

To first answer the “how” question, we must visit the “why” question. Why would the multinational financial underwriters want to reset their valuations?

Obviously, the global financial system does not act altruistically. What would motivate the global wealth valuation authority (various market investment indexes) to want, or need, a reset.

The answer to the “why” question might not be as challenging as it appears.

First, there has been a seismic shift in how the world looks at the economic exploitation of multinational systems, or globalism.  See Bernie Sanders?  See those yellow vests in France?  See what happened with the U.K. Brexit referendum?  See the shrinking EU influence?  See the open/public confrontation and push-back against China? See Trump? All examples are consequences of the rise of economic nationalism.

Secondly, the original Wall Street corporate motive (during decades of mergers and acquisitions) to shift product manufacturing to Southeast Asia (ASEAN nations) was driven by a lower cost of overall business, higher profit margins and greed.

As a direct outcome economic wealth was shifted from the U.S. to ASEAN nations, and particularly China. Low wages, low regulation, cheap operational costs, incentives and subsidies from Asia equals cheap TV’s, sneakers, furniture and durable goods.

Even with high fuel prices and overseas shipping costs, there was a big difference between U.S. and ASEAN manufacturing costs.  As hundreds of U.S. Wall Street multinationals chased profits the rust-belt was created.

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Former congressman Trey Gowdy appears with Maria Bartiromo to discuss the issues surrounding the non-indictment of Andrew McCabe for lying to DOJ-OIG investigators about his leaks to the media.
Gowdy breaks out the narrow issue surrounding the internal McCabe investigation as compared to potential criminal conduct that may exist outside that narrow window.

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Additionally, Gowdy notes John Durham is looking at specific issues related to former CIA Director John Brennan and activity within the intelligence community that took place prior to the official opening of Crossfire Hurricane on July 31st, 2016.
Included in that Durham review are documents that show CIA activity….
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