Posted on 01/17/2016 4:11:40 PM PST by Red Steel
However, the debate did highlight a distinction between GOP frontrunner Donald Trump and the rest of the GOP field on trade. As Trump called for cracking down on Chinese currency manipulation, other candidates-most notably, Marco Rubio-argued against Trump's corrective measures.
As Trump explained: "China is ripping us on trade. They're devaluing their currency and they're killing our companies... They send their goods and we don't tax it-they do whatever they want to do...[But] when we do business with China, they tax us... I'm totally open to a tariff. If they don't treat us fairly, hey, their whole trade is tariffed... they're sucking us dry."
Economic analysis confirms that Trump is correct. For instance, in a 2014 report from the Economic Policy Institute, Rep. Robert Scott (D-VA) writes, if the president were to "initiate policies that would make currency manipulation costly and/or futile":
These policies could lead to exchange rate movements that would create 2.3 million to 5.8 million jobs over the next three years by ending currency manipulation by a group of about 20 countries, with China as the linchpin. These actions would create jobs in every state and in most or all congressional districts. They would boost GDP, boost jobs and reduce unemployment, and actually reduce the federal deficit by spurring economic growth-all without direct budget costs. No other policies could achieve this economic trifecta.
(Excerpt) Read more at breitbart.com ...
We could continue insulting each other all night. What fun. Put the bottle down and go to bed.
You advise yourself well!
"Sending jobs overseas by the millions for decades is down right un-American."
Funny thing about that, it's absolutely true but routinely defended by the "Free Trade" crowd the majority of whom I suspect make money off of those jobs being exported. It's like the people who defend H1-B Visas and are either hiring them themselves, or working in job placement positions where they benefit from placing such folks.
Patriotism and Christianity are two things people espouse but a great many who espouse them never let either one come between them and making a buck.
The standard rationalizations are, care for your nation first or love your neighbor ? Well, providing cheap goods helps my nation and isn't someone in China my neighbor as well ? Of course, there are those who make no excuse and don't give a damn enough to rationalize, they're just out to get themselves as much as possible and don't care who gets hurt by what they do.
Perot was right, and he wasn't just talking about the sounds coming out of the Oval Office when Bill was busy. All the trade agreements we've made since NAFTA have just created a giant sucking sound as wealth and opportunity are drained out of our country.
It's about time people admit it's all been a mistake and that without fair trade talk about free trade is nothing but a huge scam.
The yuan is not a floating currency. There should be a much greater change between the dollar and the yuan than has been evidenced.
China has pegged the yuan to the dollar in a forced manner since the 1970’s.
http://www.investopedia.com/articles/forex/09/chinas-peg-to-the-dollar.asp
Why can’t you and this author understand this?
Maybe you are a 100% screw up.
Trump's Chinese tariff appeals to a lot of people, but it won't bring jobs back here -- just push them off to Viet Nam or even Africa.
In a trade war, China has far more ammunition than we do, sadly.
Cruz can see China from Canada.
And we have a winner! You have nailed it.
It’s why Trump wants to cut the cooperate tax rate from 35% to 15%.
Maybe so but at the rate we’re going those American jobs will be filled by Somalis and Syrians at maybe half the pay.
Economic borders need to be protected too.
You nailed it.
I keep hearing people sneer that Trump is a ‘protectionist’. When I look at what’s happening in Europe and see what’s been happening to our own economy for nearly a decade, I have to ask, ‘what’s wrong with that?’
I want a protectionist/NATIONALIST president that actually puts US Citizens FIRST.
OUR people. OUR economy. OUR borders. OUR security.
^^ That’s where I want *my* president’s priorities.
Many people, including Trump, don’t understand Economics 101 of trade.
The main benefit of trade is that you import goods that are a better deal for consumers than their domestic counterparts. If a foreign government subsidizes exports to the U.S., that benefits U.S. consumers. If China sent us all their stuff for free, would it make us better off to refuse it?
How much would prices increase?
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