Posted on 12/21/2011 6:27:22 PM PST by SeekAndFind
Republicans and Democrats, liberals as well as conservatives, have bought into anti-Chinese trade demagoguery.
Former House Speaker Nancy Pelosi suggested that tariffs against China are a "key part of our 'Make It in America' agenda."
During his 2010 campaign, Senate Majority Leader Harry Reid, D-Nev., called his Tea Party-backed Republican challenger, Sharron Angle, "a foreign worker's best friend."
In a recent news conference, President Obama gave his support to the anti-China campaign, declaring that China "has been very aggressive in gaming the trading system to its advantage," adding that "we can and should take action against countries that are keeping their currencies undervalued ... (and) that, above all, means China."
Republican 2012 presidential candidates have also jumped on the anti-China bandwagon.
Mitt Romney wrote: "If I am fortunate enough to be elected president, I will work to fundamentally alter our economic relationship with China. ... I will begin on Day One by designating China as the currency manipulator it is."
Former Sen. Rick Santorum, R-Pa., was even more challenging, saying, "I want to go to war with China."
Let's look at the magnitude of our trade with China. An excellent place to start is a recent publication (8/8/2011) by Galina Hale and Bart Hobijn, two economists at the Federal Reserve Bank of San Francisco, titled "The U.S. Content of 'Made in China.'"
One of the several questions they ask is: What is the fraction of U.S. consumer spending for goods made in China? Their data sources are the U.S. Census Bureau, the Bureau of Labor Statistics and the Commerce Department's Bureau of Economic Analysis.
(Excerpt) Read more at news.investors.com ...
“How can it be free trade if China workers can work for 1/30th what Americans can work for? Who would hire you if someone could do the same thing you did at 1/30th the wage/cost?”
It’s much worse than that; besides salary discrepancies, the work conditions of the Red Chinese slave colony would NEVER be allowed in this country (at least sine the 1930s). There is nothing free about any dealings with Red China.
China hackers breached U.S. Chamber of Commerce: report
'Hackers in China broke through the computer defenses of the U.S. Chamber of Commerce last year and were able to access information about its operations and its 3 million members, the Wall Street Journal reported on Wednesday.'
“IF we are China’s best customer, why would they seek to destroy us? It seems to me they’d prefer we prosper so we could buy more of their products, right? Would your local grocery store seek to alienate their customers?”
They can always sell to other customers; in the meantime, they’ve reduced their enemy to a hollow shell of itself. They are the Mega-Lo-Mart that is closing the Main Street businesses, on a national scale; our manufacturing was the Main Street businesses.
A US government levied tariff is another tax on the American consumer. I don’t want to pay more for my goods.
The cause of jobs being exported to China and India is nothing but labor costs. Nothing but. But tell me, have the prices of running shoes (for example) gone down since their production been moved overseas? I’ve just read about retailers complaining because they have to pay $10-15 more per pair to the manufacturers due to labor costs going up in China. Yea, right, the labor costs go up $0.15 an hour. (I know a visiting Chinese economist scholar, I’ll have to ask him about that, but from our past conversations I see that the US is more socialist than China, in terms of government interference, in terms of social security services, and so on.)
I don’t know what the government ought to do about U.S. companies sending jobs overseas. There are restrictions on sending products overseas, then why not services? Shouldn’t the government defend the economic interests of the country? Isn’t that what governments are about?
One company sending 500 jobs overseas, to raise its profits a nickel a share, means nothing to the economy. 10,000 companies and you get a recession and each individual CEO of those 10,000, says “WHO, ME?” like Alfred E Neumann, or like each illegal Mexican here, who, as one of 12,000,000 has a small but cumulatively significant effect on the culture of the country.
After reading the comments I’m still surprised so many so-called conservatives spout the left wing populist line when given evidence.
The ability to grasp simple economics is as shameful on the right as is on the left.
I was born in 1959 and I’ve heard all these same ridiculous arguments when everything was “made in Mexico” and a danger. Then in the 1980’s the boogie man was “made in Japan” and they were going to buy American wholesale.
Now it’s China, and Vietman and blah, blah, blah. Anyone that can’t understand that with emerging third and second world populations that dwarf our 300 million citizens is going to start using trade with the largest economy on the planet to help their population and we are buying their goods is basically an idiot.
Just don’t buy their stuff. And if you whine you can’t find any USA made products, you clearly are too lazy to look.
Paulbots are truly everywhere.
you make me laugh
seriously
http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-believe
If these statistics are true, then it’s clear to see that the economic system presently in vogue is unsuccessful and neither the private sector nor the public has had the good of the American people in mind.
That's the rationale. However, why should you pay more in taxes for what you earn? The modern socialist state assumes a high income tax to pay for 'social services' and that all trade partners also will do the same. Why use socialist assumptions?
A century ago, we had a relatively high tariff (compared to today, not to other countries' contemporary tariffs) and a gold standard. Business crashes were mild and short-lived compared to those after central banking. Solutions should not be dismissed just because they aren't 'modern.'
Post something that shows they’re right. Post even one argument of the great conservative economists on this subject. You don’t even have to agree with them, just demonstrate that you’ve even once in your life read these men.
Why don’t I go with my given name? You mean like “Figment”?
The US protectionism policy of Hamilton, which was actually contrary to Adam Smith and the principles of our founding, did not cause America's early prosperity. The "old" Industries that were protected saw little growth and contribution to US growth. On the other hand, new emerging industry that did not get protection saw tremendous growth and was the reason for the American prosperity. It is really typical of old money influence protecting its interests. Today example is the influence of the Sugar industry... has massive tariffs help swing US sugar to the top producer in the World? Has tariffs helped the US consumer with low cost sugar? Has high prices helped candy companies? Answer is NO, NO, NO...
But what is worst about Buchanan's argument is he is makes a big jump that US standard of living has not grown as much in the 20th century as it did in the 19th. Ever since the US joined GATT, by all measurments, the US middle class and grown and prospered.
We've also hired more than 15 US based employees n the last year. Businesses, in ryder to be successful will ALWAYS try and find the lowest cost of production. The US is that for intellectual production....where new things need to be created and domain related problem solving. The rest of the world is low cost for everything else. And yes, it is ALL about our shareholders.....not a single one a "wall street shark.". Don't fall into the traps of blaming others for your misery.
You would rather pay taxes to support the welfare state and the unemployed lower IQ types that used to work manufacturing.
PS: They have lots more babies on welfare. More time for hanky panky.
Germany produces BMW's in South Carolina. They sell those cars in North America. If BMW were to ship these BMW's back to Germany, Berlin would be engulfed in riots that made Greece's riots look like cake walks. Japan would dream of that policy. Only in America.
When the dead horse is pink goo, it is time to stop beating
“I love how all the “conservatives” on this site RAVE about Walter Williams and Thomas Sowell and their massive, immeasurable intellects, but not 1 in 100 “conservatives” on this site has (a) read what these guys say about free trade, and/or (b) agrees with it. I wonder why, among all the conservative economists out there, so many “conservatives” go ape sh*& over these two. Can’t quite put my finger on it.”
Guilt-tripped white conservatives get a chance to prove they are not racist.
Ping
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