I saw that link, which describes this as an "initiative". There is no mention of "eliminating country-of-origin labels," or if there were, I missed it.
I also see this observation which WND chose not to address, perhaps because it has too many big words: The statistical bias created by attributing the full commercial value to the last country of origin can pervert the political debate on the origin of the imbalances and lead to misguided, and hence counter-productive, decisions.
Here's another counter view from those unreconstructed Marxists over at MSNBC: http://www.msnbc.msn.com/id/35821593/ns/business-us_business/t/made-america-rules-are-complex-confusing/"Today, an “American” car sold in Chicago may have rolled off an assembly line in Tennessee with parts made in a dozen different countries. ... But it takes roughly 40 pages to spell out the FTC’s rules of the road for companies that want to make the Made in America claim. And those are just one of a half dozen separate sets of rules that apply to “country of origin” labeling."
I think that this is actually a very complicated issue which can't easily be unwound with a "Made in the USA" label here and there. As far as I can tell, the main point behind the "Made in the World" initiative is to highlight how absurd the distinction is, since very few products that we use are ever made chiefly in one country any more.