“China and India’s populations entering the global work force “greatly increased the supply of labor,....and “almost everything Americans buy from China” is produced by American manufacturers utilizing Chinese workers.”
Gramm may be more honest than McCain would like. Someone finally admitted that MFN with China is nothing but a cheap labor contract. I wonder when they’ll admit the price of gas is because of demand by China because we buy all their cheap goods? When did this great labor shortage in America occur? When THEY said it did, I suppose.
“Gramm may be more honest than McCain would like. Someone finally admitted that MFN with China is nothing but a cheap labor contract. I wonder when they’ll admit the price of gas is because of demand by China because we buy all their cheap goods? When did this great labor shortage in America occur? When THEY said it did, I suppose.”
Yep, and that’s all any of these free trade agreements, NAFTA and since, really are. Those nations have nothing to offer but cheap labor, some natural resources, and some unique agricultural products. They are all about giving US corporations access to the world’s cheapest labor, and then low or no tariff access to ship the products produced back to the US market for sale.
And, yep, all the US fueled growth in China is the biggest reason we are paying so much for gasoline and many other products (and all those jobs outsourced to India). No one mentioned any of this when selling MFN as the way to democratize China. But the Red Chinese right now are more interested in developing weapons and tactics to defeat US carrier groups.
Whether our great leaders intended it or not, many Americans are now having their standard of living lowered, both by lower earnings and higher living expenses, so that jobs and growth can be created in China, India and other nations.
Maybe old Phil will explain that next, and tell us how eliminating the minimum wage would create many new jobs. That’s always a big vote getter for Republicans.