I wonder how the Liberal Free Trader Globalists will spin this one. I am afraid to read the posts.
This is what you get when you Free Trade with Communist China. And, the Liberal Globalists in both parties do not have the nads to slap a tariff on Commie Chinese goods to counter the Communist Chinese Trade War on the USA
Instead of the stupid “You’re an Isolationist/Protectionist” and “Smoot-Hawley caused the Great Depression” nonsense replies from the Liberal Free Traders...it is time to start getting tough on the Communist Chinese, and all other countries, who tariff and traxde barrier US exports
On October 15, U.S. Trade Representative Ron Kirk announced that the United States has initiated an investigation under Section 301 of the 1974 Trade Act with respect to acts, policies, and practices of the Government of China affecting trade and investment in green technologies. The investigation has been initiated in response to a petition filed by the United Steelworkers (USW) on September 9, 2010.
The petition alleges that China employs a wide range of World Trade Organization’s (WTO) inconsistent policies that protect and unfairly support its domestic producers of wind and solar energy products, advanced batteries, and energy-efficient vehicles, among other products, as China seeks to become the dominant global supplier of these products. According to the petition, these policies include export restraints, prohibited subsidies, discrimination against foreign companies and imported goods, technology transfer requirements, and domestic subsidies causing serious prejudice to U.S. interests. The petition further alleges that China’s policies have caused the annual U.S. trade deficit in green-technology goods with China to increase substantially since China joined the WTO, making China the top contributor to the U.S. global trade deficit in the sector.
Related? http://www.freerepublic.com/focus/f-news/2610619/posts
We need to send teams to start exploring the bordering area of Mongolia, Afghanistan etc and other countries to see if they don’t have some of these minerals too.
Where is Hank Rearden when we need him?
Eventually, China will have to acquire their Rare Earth metals from the rest of the world as the bulk of theirs are running short. While this may or may not have been our governments goal, the long term result is not necessarily a good thing for China.
Sometimes I think the same unstated goal for oil seems to be in effect, but maybe I'm just looking at it from a different perspective.
Not good, not good at all...