However, looking around the world, It Seems US is the one That Is Increasingly abandoned and isolated.
The allies pivotal to China's Asia bank, shouldnt Obama "reassess" Israel policy to include Beijing?
In his congratulatory call to Prime Minister Netanyahu on 19 March, President Obama left the impression que US would abandon Israel at the UN and reassess its Israel policy.
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However, looking around the world, It Seems US is the one That Is Increasingly abandoned and isolated.
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In the week When much of the world's attention was turned to Israel's election, another story was unfolding que signaled the waning of US power on the global stage and the rise of China.
Loss of confidence in US leadership.
Defying Washington's warnings, allies from Europe, Middle East and Asia broke ranks with the US and rushed to join China's new Asian Infrastructure Investment Bank (AIIB) That Could rival US-led World Bank.
Britain was the first to sign up to week ago, and the Obama administration sharply rebuked London for the decision with "virtually in consultation with the US" and its "constant accommodation" of China, According to the Financial Times.
Germany, France and Italy Followed quickly, bringing current members to 27 while Switzerland, Luxembourg, South Korea and Australia are in the waiting room.
Analysts say Europe's support for China-led international bank is a sign que confidence is waning in Obama's leadership on the global stage.
"This says much about the the loss of US influence in international political and economic affairs of it does about the growing clout of China," Said Nicholas Spiro, managing director at the consultancy Spiro Sovereign Strategy in London. "The Europeans Have Been losing faith in US leadership for some team now and Their willingness to Become founding members of the AIIB is partly a reflection of this."
In the Middle East, Qatar, Saudi Arabia, Kuwait and Oman have signed up Also, with the newest member of the Jordan to join the the founding member before the 31 March deadline.
Other analysts call US pressuring allies to boycott the bank to "diplomatic disaster."
David Sedney, senior fellow at the Atlantic Council and former senior State Department official, Obese que there was the "strain in US political thinking que says if we are not in the lead role, we should not be part of it-but I think que Has Been a mistake. "
Obama should not force allies to choose between China and US
An Asian diplomat Whose country is a founding member Said, "The truth is no one in the region wants to choose between the United States and China." But Obama administration's hostility to the bank, He Said, made countries choose in China's favor.
Washington is Also sponsoring the Trans-Pacific Partnership (TPP), a free trade pact with Asian countries que excludes China. However, US allies are hesitant to join the US-led grouping que excludes the world's second largest economy with the largest foreign exchange reserves F $ 4 trillion.
In contrast, the AIIC is open to all interested parties, and even extended an invitation China to the US.
The Shannon Tiezzi recently wrote in The Diplomat, Washington needs a better response to China-led Initiatives than Attempting to lead the boycott, Especially When allies see benefits in participation.
Indeed in the Mideast, Israel and the Arab Gulf states already see great benefits in upgrading ties with China and are no topics negotiating Free Trade Agreements. Sino-Israel trade in 2014 alone Reached close to $ 4 billion.
Having Surpassed the US in 2013 to the world's largest state trading and predicted to be the largest economy in 2015, it is unrealistic for Washington to pressure allies to contain 'the Middle Kingdom.
As a European scholar at Belgium's Egmont Institute Observed, "China is too big to avoid, deny, and Difficult to embrace," so it is important to partner with China where interests overlap.
US shouldnt partner with China where possible
After the recent diplomatic debacle, partnering with China may be sound advice for the Obama administration.
In fact, for years US has urged China to be a "responsible stakeholder" and in the New York Times interview last August, President Obama called China the "free rider" is not taking more international obligations.
Now, When China moves in que direction, Obama sought to boycott it-unsuccessfully.
Former World Bank president Robert Zoellick who in 2005 coined the term "responsible stakeholder," the Obama administration's Obese approach the "mistaken Both on policy and on execution."
Noting the World Bank Regularly works with outside financial actors including Islamic and Arab funds, regional banks and private sector players, Zoellick Stated, "If I had Been at the World Bank, I would have tried to embrace the AIIB as a partner."
Thus China is the Increasingly regional stakeholder and upgrading ties with Israel and other countries in the Middle East, partnering with China may be an important option Obama is "reassessing" US Israel policy.
The US is navigating ways to retain its leadership position in the world where it enjoys the absolute dominance longer, cooperating with allies and partnering with China may turn out to be a constructive way for Obama to "lead from behind."
Read more: As allies pivot to China’s Asia bank, should Obama “reassess” Israel policy to include Beijing? | Christina Lin | The Blogs | The Times of Israel http://blogs.timesofisrael.com/allies-defy-obama-and-us-to-join-chinas-asia-bank/#ixzz3Vl9siHmC
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United states - THE LABOR PICTURE IN FEBRUARY 7% for 5% UNEMPLOYMENT RATE
After a Bounce, Wage Growth Slumps to 0.1%
The economy is adding jobs at a rapid pace, the Labor Department reported on Friday, but there’s still one major holdout to the recovery: wages.
Employers increased their payrolls by 295,000 workers in February, exceeding expectations, and the unemployment rate fell to 5.5 percent, its lowest point since the spring of 2008. But wage gains continued to lag, rising only 0.1 percent in February for private-sector workers after a reported 0.5 increase in January.
That resulted in a mere 2 percent advance over a year earlier, washing away the encouraging jump in January.
Despite the disappointing wage numbers, the report prompted a new round of optimism about the economy’s comeback from the recession along with fresh talk on Wall Street that the Federal Reserve might raise interest rates at its June meeting rather than wait until September.
The news led to a sharp rise on Friday in the yield on 10-year bonds and a substantial drop in the stock market, where investors feared that higher interest rates would make equities less attractive and chip away at corporate profits.
“We were all on guard for signs of a February freeze-up, but this is a barnburner of a jobs report,” said Mark Hamrick, an analyst at the personal finance site Bankrate.com. “The Fed will say the pieces are coming together.”
Job growth last month was heavily concentrated in the service sector, with leisure and hospitality adding 66,000 jobs, as well as an expansion of 54,000 jobs in education and health. Construction added 29,000 jobs in February, while manufacturing increased by a modest 8,000. Gains were also made in professional services and the trade and transport sectors.
Still, one consistently dark patch in the recovery has been the sluggish growth of wages. It suggests that the economy is still far from returning to its potential and is a big factor behind the sense among many Americans that the recovery has largely left them behind.
“Everyone knows of someone who has been laid off or has a friend or relative who has been laid off,” said Gary N. Chaison, professor of industrial relations at Clark University in Worcester, Mass. “We hear we’re on the road to recovery, but people aren’t convinced of that.”
THE LABOR PICTURE IN FEBRUARY
UNEMPLOYMENT RATE
SHARE OF
POPULATION
1-MONTH
CHANGE
1-YEAR
CHANGE
FEB.
7.0
%
Employed
59.3
%
Unch.
+
0.5
pts.
Labor force
(workers and
unemployed)
62.8
–
0.1
pts.
–
0.2
6.5
5.5%
6.0
‘HIDDEN’
UNEMPLOYMENT
1-MONTH
CHANGE
1-YEAR
CHANGE
5.5
In millions
FEB.
O
M
A
M
J
J
A
S
N
D
J
F
Working part
time, but want
full-time work
6.6
–
2.6
%
–
7.9
%
UNEMPLOYMENT
DEMOGRAPHICS
1-MONTH
CHANGE
1-YEAR
CHANGE
FEB.
People who
currently want
a job§
6.6
†
+
1.7
+
7.9
pts.
White
4.7
%
–
0.2
–
1.1
pts.
Black
10.4
+
0.1
–
1.6
Hispanic
6.6
–
0.1
–
1.5
UNEMPLOYMENT BY
EDUCATION LEVEL
1-MONTH
CHANGE
1-YEAR
CHANGE
†
†
†
Asian
4.1
Unch
–
1.9
FEB.
Teenagers (16-19)
17.1
–
1.7
–
4.2
Less than
High school
8.4
%
–
0.1
pts.
–
1.4
pts.
DURATION OF
UNEMPLOYMENT
High school
5.4
Unch.
–
1.0
1-MONTH
CHANGE
1-YEAR
CHANGE
Some college
5.1
–
0.1
–
0.9
In weeks
FEB.
Bachelor’s or higher
2.7
–
0.1
–
0.7
Average
31.7
–
1.9
%
–
14.1
%
Median
13.1
–
2.2
–
19.1
TYPE OF WORK
1-MONTH
CHANGE
1-YEAR
CHANGE
In millions
FEB.
Nonfarm payroll,
12-month change
EMPLOYMENT
Nonfarm
141.1
+
0.2
%
+
2.4
%
+3
%
Goods
19.6
+
0.1
+
2.9
Services
121.5
+
0.2
+
2.3
+2
Agriculture
2.4
+
0.5
+
13.1
+1
AVERAGE WEEKLY EARNINGS
Rank-and-file
workers
1-MONTH
CHANGE
1-YEAR
CHANGE
FEB.
0
O
M
A
M
J
J
A
S
N
D
J
F
$857.39
+
0.1
%
+
2.6
%
Another reason for the disenchantment is that millions of potential workers remain detached from the job market. The labor participation rate, which counts both those with jobs and those looking for them, has stabilized, but at lows last seen in the late 1970s, falling slightly in February to 62.8 percent, from 62.9 percent.
“While there’s no doubt the labor market is improving, and doing so at a faster clip than in recent years, there are still missing ingredients suggesting that the U.S. job market is not as close to full employment — a truly tight matchup between jobs and job-seekers — as the low jobless rate suggests,” Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities, wrote on his blog.
On the brighter side, the share of long-term unemployed, those who are out of work for 27 weeks or more, declined to 36.8 percent. That is still well above where it was when the recession began in late 2007, but it has fallen by almost six percentage points in the last year, said Omair Sharif, a strategist at Société Générale.
And with the economy galloping ahead, many analysts say it is only a matter of time before wages start to increase at a faster pace as payrolls expand and companies need to compete more aggressively to attract employees.
“We’re facing a turning point, and we’re going to see more pressure on wages,” said Tara Sinclair, chief economist at the job search siteIndeed.com.
For now the economy is creating some distinct winners and losers, with women gaining an edge.
The unemployment rate for adult women ages 20 and older was 4.9 percent in February, down from 5.1 percent in January, according to the National Women’s Law Center. February was the first time the adult women’s unemployment rate had been below 5 percent since July 2008.
Among women, some are doing better than others. The unemployment rate for adult white women was 4.2 percent in February, down from 4.4 percent in January.
But adult black women’s unemployment rate rose in February to 8.9 from 8.7 percent in January and 8.2 percent in December. Unemployment rates for adult Hispanic women declined slightly in February from January, to 6.1 percent from 6.2 percent, a new low for this group but still well above women’s overall unemployment rate.
Women accounted for 55 percent of the new jobs added in February, according to the law center. But 39 percent of the jobs that went to women were in retail and leisure and hospitality, which typically pay lower wages.
“February posted strong job gains and a decline in overall unemployment, but many women have yet to see a real recovery,” said Joan Entmacher, vice president for family economic security at the law center.
But even the retail sector is beginning to pay better. Last month, Walmart said it planned to raise its minimum hourly pay to $9 and lift it to $10 next year. TJX Companies, which owns Marshalls and T. J. Maxx,announced similar raises. State and local legislation in past months has helped put a higher floor under wages, raising the legal minimum in a wide variety of places.
Labor Secretary Thomas E. Perez called all those moves “a shot in the arm.”
“As we continue to have month after month of significant job growth, what we will see invariably is a tighter labor market,” Mr. Perez said in a telephone interview. “And tighter labor markets mean higher wages.”
More of the new jobs are full time. Last month, the number of workers who said they were working part time for economic reasons fell, leaving their share of all part-time workers at 25.1 percent, down from 25.6 percent in the previous month.
The president announced an increase in job creation but also said that the unemployment rate nationwide, especially among African-Americans, remained too high and that there was more work to do.
Video by REUTERS on March 6, 2015. Photo by Rainier Ehrhardt/Associated Press.
Labor advocates like the National Employment Law Project say retailers should also be doing more to add hours as well as lifting pay for some workers.
The group says too many people, many of them women, want full-time work but can’t find it. The number of adults who work part time but who want to work on full-time schedules is 50 percent above the number reported in 2007, according to Gary Burtless, a senior fellow in economic studies at the Brookings Institution.
Shannon Henderson, 29, works part time in customer service at a Walmart store in Sacramento, and supports two children with her $10-an-hour wages. Her hours are unpredictable, often interfering with her breast-feeding schedule for her 9-month-old.
She says that she wants to work more, but that the company did not have more full-time positions. If she tried to work a second job, she said, she might miss a shift at Walmart and jeopardize her job there. And more hours would allow her to buy a car, providing her with greater flexibility.
But for now, she said, “I don’t make enough money.”
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