5 ways allowing China into World Trade Organization failed United States spectacularly

economyincrisis. ^ | 2/26/15 | Lu Feorino

[central_va]

A report released Thursday by the Economic Policy Institute in Washington, D.C., reports the spectacular failure of efforts by the U.S. to improve its trade imbalance with China by allowing it into the World Trade Organization in 2001.

The report, “China Trade, Outsourcing and Jobs,” states that U.S. officials including President Bill Clinton boasted of the improvements that would come with allowing China into the organization.

According to the authors of the report, the following are five predictions made about the benefits of the move matched with research about what actually occurred. According to the supporters of the move, the agreement would:

[central_va]

Reduce the trade deficit

Report: From 2001 to 2013, imports from China increased dramatically, rising from $102.1 billion in 2001 to $438.2 billion in 2013. U.S. exports to China rose rapidly from 2001 to 2013, but from a much smaller base, from $18.0 billion in 2001 to $114.0 billion in 2013. As a result, China’s exports to the United States in 2013 were almost four times greater than U.S. exports to China. The trade deficit in 2013 was $342.2 billion.

[henkster]

Ancient Chinese Proverb: We can always fool the foreigner.

Modern Chinese Proverb: It’s after you sign the contract that the real negotiating begins.

[Alberta's Child]

That's exactly why every Chinese expatriate I've ever dealt with in a business setting has told me that their home country is a terrible place to do business. The place is so culturally dysfunctional that a contract isn't even worth the paper it's printed on.

That's why they all live here in North America, and that's why they brought plenty of wealth over here with them.

[gg188]

One reply in four hours? Sad.

Understanding the WTO is as important as understanding the United Nations or, in times past, the USSR.

Only when people understand the WTO will they understand what a disaster and threat to our existence that trade is.

Read 99% of FR posts on trade and there's no mention of the WTO. That would be like talking about terrorism without mentioning Islam.

Cruzers have no clue and don't care if they have no clue, but rest assured Heidi and Ted are all ABOUT the WTO.

I hope more knowledge-seeking Freepers (which of course excludes the uninformed-and-proud-of-it Cruzers) will read and understand the role WTO is playing in our demise and is playing in Globalization and the New World Order. Until we get out of the WTO, things will not change.

[central_va]

It appears that most Freepers don’t care if the US economy goes completely down the tubes. They cached in the American chips and went global a long time ago. For them, as long a the globalist cartel corporations have their way then they are good. This is why the Republican Party is finished, movement conservatism is dead and Trump will win in a landslide.