Bravo, Mr President!
For the second time in a week, the Obama administration has discarded a major campaign pledge on international economic policy. In its decision last week not to name China a currency manipulator, and now to forswear renegotiation of NAFTA, the administration avoided two potentially costly mistakes.I am delighted. My biggest fear about international economic policy was that the President might actually follow through on his campaign rhetoric. So this news is a great relief.