Less 20% of China's exports come to the US (down from 40% ten years ago). And while the US imports more from China than any other countries, Chinese imports don't represent the majority of US imports. And ask all those American companies in China, from GM to GE if they want to pull out. They don't, they want to expand, and have complained to the Obama Administration to help in battling the Chinese trying to establish their own industries on their home turf.
As far as China living in the stone age 1990, its quite a bit of an exaggeration to say that. They didn't have much back then, but their cities did resemble something of the 20th century. And they did and still do have a motivated and hard working workforce.
Trump and many of his supporters talk of how the US paid for the changes over there. But that isn't true. What trade did, was unleash the hard work and energy bottled up inside of China during the Mao years. China's cities and infrastructure, were built by their sweat. And when China exports products, made at less than 50 cents an hour, she imports heavy equipment, machinery, etc. that were made in the US and the West at $50/hr (including benefits, etc.). The reality is, trade allows China, to access technology, know-how, etc. But not drain the West or the US of money.
The $3 trillion China have in reserves, is nothing more than their extra dollars they don't know what to do with. So, they simply plow it back into the US economy. And when the US has ecnomic problems, what do the federal reserve do? Print trillions of dollars and devalue Chinese holdings of her reserves.
The Chinese are not the problem. What is happening, is that the economic system in the US and the rest of the West, is set up in such a way, that in some ways, is more socialist than China. That may seem like a stretch since China has many state owned corporations. But in terms of safety nets, there are very few. The West has significantly more safety nets, public services, etc., paid for by the state, than China.
If anything, the West is pressing China to provide more social safety nets (which is growing), to reduce the varacious savings going on in China.
When Buchanan and Trump blame the Chinese, they're simply looking for scape goats. China will continue to rise as a result of trade with the West of course. But this trade, primarily is a learning tool for the Chinese to mimic the West, not drain her of her resources.
China's rise creates a demand that would otherwise not exist. For example, iron ore demand in Brazil and Australia.
In the long run, the industrilization of China doesn't hurt the US, or the West, and immensely helps the rest of the world by creating demand for what exists underneath the ground of foreign soil.
Buchanan was right on immigration and China in 1999.He is a genius.Here is an article by Buchanan. Why don't you read it before you decide he is an idiot? http://www.freerepublic.com/focus/f-news/2774127/posts
Are you for illegals invading our country too, after all doesn't that satisfy your free trade theories of movement of labor? See here globalists we don't need Mexican labor nor Chinese products.
you said “The Chinese are not the problem.”
Are you kidding me or what?
We have no jobs in the U.S.. The U.S. is in decline. The government debt is staggering and skyrocketing, growing by trillions per year. In addition to that businesses and individuals are about the same amount of debt .and the U.S. government has over 100 trillion in unfunded liabilities. You think that is sustainable? Can you answer that?The only thing that is propping the U.S. up is debt, and that other countries want the dollar strong so that they can sell their cheap crap here. The U.S. will collapse worse than Europe as we have more debt and less manufacturing jobs than Germany alone.
Look at how many millions applied for mcdonalds'jobs.
Those are the best jobs we are creating in the U.S.: a Buss boy job in a restaurant where 400 people apply for it Compare a buss boy using technology of 10,000 years ago , his back and legs (think of the Egyptian slaves building the pyramids)to workers in china running a city sized steel mill operating huge building sized machines.Who is producing more ? No one understands that manufacturing is the key .Well Japan, China and now almost every country in the world except the U.S. and Europe KNOW this. Yes they are so dumb China and Asia , and almost every other country for focusing on manufacturing while the U.S. declines and is so smart about “free trade”.
The U.S. is in a rapid deindustrialization death spiral. The number of manufacturing jobs has declined tremendously and is now only 11 million out of a population of 300 million. China has over 10 times as many jobs in manufacturing.
The fact is we don't need the 2 trillion dollars of crap that is imported every year from China and other countries. We could make all that here in the U.S. and guess what that would create factories, jobs, technology ,productive capacity, wealth that would raise U.S. living standards. How many factories would that create in the U.S, all it takes is one law that would severely limit imports from China and other countries.
Imagine if 1 steel mill was built in a small town. That would create 1000’s of direct jobs and not only the factory workers also the engineers, the machinists, the electricians ,computer programmers , accountants, etc.
and all the other jobs that would be created by these people spending their money in a city.
20 years ago 99% of China's people were living in small huts , with famines raging etc starvation, disease , extreme poverty. Yes that was caused as famine , starvation, poverty everywhere was caused by socialism and not trading with the U.S. Now a mere 20 years later there are huge malls in China and factories everywhere.
The U.S. had all the technology and was much more advanced than any country in 1970. Most of the inventions and industries including the assembly line, TV, electronics, computer,phone etc, were invented here. The U.S. had the best job market , highest living standards and was way ahead in technology. Imagine where we'd be if we would have kept the borders shut.
Close the border to illegals and to the products illegals make in their countries.
In my opinion anyone who buys a foreign product is a traitor and is cutting their own neck if they live here. Anyone being pro China is also and cutting their own neck.China is playing the U.S. like a fiddle . Trump and Buchanan are right. It's like someone advocating illegals come here. Why are you all for stopping illegals but not foreign products?
Yours,
Donald J. Trump”
Trump is right.
China's living standards are rising while the U.S. living standards are falling.
China is lending the U.S. trillions while the U.S. debt is exploding by the trillions. That's 14 trillion in government debt and the share for every working American is over one hundred thousand dollars in government debt. You think that is sustainable? No way. The U.S. is done and China's deindustrialization of the U.S. is the main cause although what you say about increasing socialism in the U.S. also hurts the U.S. the main cause is China and then all the other countries doing the same thing to the U.S..
This isn't “free trade”. This is economic war and terrorism.
If you had a factory to build , would you build it in the U.S. where you had to pay your employees 30 times more than in China?