Posted on 08/28/2015 5:32:52 PM PDT by SeekAndFind
Edited on 08/28/2015 6:19:18 PM PDT by Admin Moderator. [history]
There are few things these days on which both Main Street and Capitol Hill agree, but one of them is undoubtedly the idea that a flood of artificially cheap Chinese imports is bludgeoning the American economy and propelling
(Excerpt) Read more at lincicome.blogspot.com ...
BUNK.
Bring back American manufacturing.
The author argues that almost 88% of US manufacturing job losses came from productivity gains like robots & computers.
Rats.
I was gonna say, “In before Cringing Negativism Network!”
http://www.census.gov/foreign-trade/balance/c5700.html
We now ran a 342 billion dollar trade deficit with China last year, a new all-time bad record. In a long string of ever-worse records.
This year is getting still worse.
lol.
Bring back American jobs.
Total BS - “goods and services” is not the same as “manufactured goods”. Yes, the shipping and sales might happen here - but no wealth is produced in those steps.
I sell manufacturing equipment for a living - this is pure propaganda.
No one wants to manufacture in the US if they can avoid it. The idiots in DC have made it much too risky.
They can print money - but they can’t print wealth.
RE: No one wants to manufacture in the US if they can avoid it. The idiots in DC have made it much too risky.
Well there you go, you’ve just pinpointed the problem right there. China is the least of our worries.
Funny how American manufacturing declined while China’s increased. Do you think there is a connection?
No too many “American” companies have simply given up, and sold out.
Trump is saying enough, and in my opinion, I say enough.
Bring back jobs to America.
Well, the San Francisco Fed has found that “the total share of ‘made in China’ goods in U.S. household consumption is just 1.9 percent” — far too small to have any major impact on the U.S. economy or American jobs.
In short, there’s simply no economic way that goods and services from China, Japan, Mexico or any other country are major contributors to the overall American economy. And the same goes for exports and investment.
Although some American workers in trade-sensitive manufacturing industries are undoubtedly affected by import competition, they represent a tiny fraction of the overall U.S. workforce.
Why can't we buy vitamins made in America?
They haven’t ever shopped at Wallymart - apparently.
RE: Bring back jobs to America.
Rather, let’s create the INCENTIVES so that businesses and entrepreneurs will want to CREATE and MAINTAIN JOBS here.
Stop blaming China, Canada or Mexico. Let’s look at what Washington DC and its many government divisions are doing.
Baloney.
Go in any store. In any village or town. In any city. In any state, in America.
Go randomly to any place, and pick up five things.
All five will say “Made in China”. Sure there are exceptions, like the foods aisle, but by and large, it fits.
RE: MADE IN CHINA
The author explains why....
CUT AND PASTE:
Almost all consumer goods are the product of many hands, and properly accounting for what is made where further reduces the share of “made in China.”
Hale and Hobijn explain:
Obviously, if a pair of sneakers made in China costs $70 in the U.S., not all of that retail price goes to the Chinese manufacturer. In fact, the bulk of the retail price pays for the transportation of the sneakers to the U.S, rent for the store where they are sold, profits for shareholders of the U.S. retailer, and the cost of marketing the sneakers. These costs include the salaries, wages and benefits paid to U.S. workers and managers who staff these operations.
The San Francisco Fed’s calculations show that on average 36% of the price of imported goods goes to U.S. companies and workers, and for goods imported from China that number is even higher:
“On average, of every dollar spent on an item labeled ‘Made in China,’ 55 cents go for services produced in the U.S.,” Ms. Hale and Mr. Hobijn write. “In other words, the U.S. content of ‘Made in China’ is about 55%. The fact that the U.S. content of Chinese goods is much higher than for imports as a whole is mainly due to higher retail and wholesale margins on consumer electronics and clothing than on most other goods and services.”
It gets more complicated. Chinese made parts also go into the 88.5% of U.S. consumption spending devoted to goods made in the U.S. Adding it all up, the researchers conclude that the total share of “made in China” goods in U.S. household consumption is just 1.9%.
What does it all mean? There’s good news and there’s bad news. The good news is that the China threat that looms so large in U.S. political debate is overstated. China’s exports as a share of U.S. consumption might have grown quickly, but they are still a small fraction of the total. U.S. workers and companies are also taking a fair chunk of change from the process.
The bad news is that hopes of a stronger yuan creating more space for U.S. manufacturers to sell to the domestic market – already overplayed – appear even less credible. If most of the cost of “made in China” imports actually accrues to U.S. workers and companies, yuan appreciation will have only a limited impact on competitiveness.
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