Regards, Ivan
Posted on 07/26/2004 10:11:35 PM PDT by MadIvan
THE first day of the Democratic convention in Boston was dedicated to discussion of the party’s economic policy. Aside from John Kerry’s views on Iraq, it is the dollar in people’s pockets (or the lack of them) which will determine the outcome of the presidential election in November. The Democrats’ views on jobs, trade and public spending have a resonance beyond Boston. They impact on Europe and the rest of the globe because America is the world’s biggest economy.
Worryingly, as far as Europe is concerned, Mr Kerry has tended to make more and more protectionist noises as his campaign has progressed. His platform proposes a battery of measures, including export subsidies and legal action against those countries allegedly dumping below cost in American markets. He proposes to review all trade agreements during the first 120 days in office, to check if exporting countries meet America’s environmental and labour standards. If they do not - and who decides? - imports will be stopped.
Doubtless, much of this is rhetoric aimed at local blue-collar voters in America’s industrial states, and especially designed to offset Mr Kerry’s upper-class image. However, the anti-free-trade tone of the Democrats is harsher this year than at any time in decades, and certainly much harsher than heard during the Clinton years. Indeed, as a sign of the times, Senator Hillary Clinton has herself begun to champion a more protectionist line. As a result, a Kerry White House may be less friendly to the open trade that has underpinned the economic growth of recent decades. This is especially critical for both Britain as a whole and Scotland, which export significant amounts to the US.
But there is a new, more sinister, aspect to the Democratic flirtation with protectionism. The Democrats have shifted their emphasis from denouncing cheap imports (especially from China) to vilifying US companies which send jobs abroad by investing in other countries. America has long invested in jobs and technology abroad - importing the results - thus underwriting first the industrialisation of post-war Europe and Japan; then the industrialisation of post-Mao China. Of such a policy was Silicon Glen built. America has gained much in return. Economically, she has shifted her economy up the value chain and now dominates the global high-technology sectors, while the profits of Asia’s new industries flood back as loans to fund America’s burgeoning deficit.
Mr Kerry plans to unpick this complex system, promising to create no fewer than ten million new jobs in America by 2009. The danger is that his rhetoric ends up blocking investment and jobs going to the newly-industrialising nations - surely a more provocative policy than anything the Republicans have done. And though it might keep some jobs in America, these will be increasingly the lower-value, low-wage ones better transferred abroad. The Kerry response - to hike the US minimum wage - will simply add to business costs. Besides, which nations will buy Boeing airliners or Microsoft software if America destroys their economy by blocking imports and hindering US investment?
America has lost manufacturing jobs in the Mid-West. But the way to get them back is to grow the world economy faster. Some of that is down to the EU deregulating its over-taxed economies. But ultimately, it is the US economic engine that pulls the world forward - to America’s own advantage. Putting on the brakes and shunting into a siding will help no-one.
Regards, Ivan
Ping!
Of course it helps someone, John Kerry during a campaign. Between this, increasing the minimum wage, national health care, after school programs, more troops in Iraq, etc. etc. etc. John Kerry will bankrupt the United States.
This,THIS,from a lefty paper?
Regards, Ivan
Of course, if the exporting countries bribe him with campaign (or other) cash...Just remembering Jimmuh Cawtuh and the Shah or Iran, here...
bttt
He proposes to review all trade agreements during the first 120 days in office, to check if exporting countries meet America’s environmental and labour standards. If they do not - and who decides? - imports will be stopped.
Kerry should have picked Pat Buchanan as his running mate. They agree on so much: They both hate GW 24/7 and their economic plans sound the same.
Their standard of living goes down and they become poorer. On the other hand, fat cat bosses who love tarrifs get richer. Hmmm. The rich get richer the poor get poorer? ;)
Regards, Ivan
All anyone has to do is mention global warming. If we were to implement Kyoto, the cost would be about $500 billion per year. That is just one area Kerry is deficient, and a liar.
DK
Then of course nations who have no intention of implementing it, but signed it anyway, howl the loudest about America. You figure it out.
Regards, Ivan
But…but…that’s what the dems accuse the Republicans of doing!
All anyone has to do is mention global warming.
Something I posted last night on RightGoths.com:
Orwell springs to mind - the sign at the convention should be:
PEACE IS WAR
TOLERANCE IS INTOLERANCE
DIVERSITY IS MONOTONY
But that would be too truthful -
PEACE is WAR - let's note how many peace protestors these days need the intervention of the riot police. Be that as it may, note how the peace protestors shout down and hound anyone who dares to disagree. Worse, if they got their way - their kind of "peace" doesn't stop going to war: being peaceful with Iran in 1979 and letting it slide into revolution didn't help.
TOLERANCE is INTOLERANCE - let's note how the left wants to shut down right wing ideas, classify them as being all evil. To be a radical liberal is to get applause. To be a radical conservative is to be despised.
DIVERSITY is MONOTONY - Diversity is only acceptable in their world if you adhere to a left wing agenda. Look what has happened to Condi Rice, Colin Powell and Clarence Thomas - they may be diverse in skin colour, but they are considered anathema because they're not left wing.
Similarly, POVERTY IS WEALTH - namely, for socialist fat cats and barons.
Regards, Ivan
Yep!
KYOTO TREATY
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