U.S. Economic Clout May Sink Palestinian Membership Quest at UN Council

http://www.bloomberg.com/news/2011-09-30/u-s-economic-clout-may-sink-palestinian-membership-quest-at-un-council.html

Economics and political expediency may trump historical connections to determine whether two swing votes on the United Nations Security Council, Nigeria and Gabon, back the Palestinians’ bid for membership.

The two African nations were among the more than 100 countries that responded to Yasser Arafat’s 1988 declaration of independence by recognizing Palestine. This has led Palestinians to look to them for the ninth vote needed for approval by the 15-member council.

While the Palestinians have dispatched diplomats to the capitals of both nations to plead their case, they carry neither the economic heft nor the far-reaching influence of the U.S., which is working to block the Palestinians’ UN initiative.

“This is now realpolitik, pure and simple,” said Calestous Juma, a professor of international development at Harvard University’s John F. Kennedy School of Government in Cambridge, Massachusetts.

Plan "B" could be a vote by the General Assembly that would grant statehood.

The Chinese and the (for now) the Russians support it

seriously, talking about our economic clout when we're on the verge of going over the cliff is kinda silly.

But I don't doubt that we do still have some. But so do other countries, we are not the 800 pound gorilla in the room any more.

we spend $34 billion annually in economic assistance. No one else is even close.

Secondly, China and the EU are in just as bad shape as we are. The EU debt crisis is much bigger while China is poised for an economic "hard landing" shortly as economic reality catches up with their policies.

http://finance.yahoo.com/tech-ticker/china%27s-economic-%22hard-landing%22--will-cause-a-commodity-crash-says-gary-shilling-535929.html?tickers=fxi,eem,gld,copx,jjc,

So yes, we still have enormous economic influence in the world.

the impact of debt for both people and countries is relative. Five thousands dollars may be a crippling debt to a poor man while a debt of half a million is well within the budget of a wealthy man.

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

The US economy is huge.

Perceptions of economic clout will probably keep things going with small and very easily paid-off nations for another few years after any real clout has vanished...