Posted on 08/02/2016 5:46:48 AM PDT by expat_panama
Foreign trade took a beating at both major party conventions, with speakers blaming free-trade agreements for all but wiping out U.S. manufacturing and eliminating millions of middle-class jobs. Both Donald Trump and Hillary Clinton have promised to renegotiate or abandon trade agreements with key U.S. trading partners such as Mexico and Canada. That would be a colossal mistake.
The number of manufacturing jobs in the United States has indeed been in a long decline since the late 1970s...
American factories and American workers are making a greater volume of stuff than eve...
...Americas 21st century manufacturing sector is dominated by petroleum refining, pharmaceuticals, plastics, fabricated metals, machinery, computers and other electronics, motor vehicles and other transportation equipment, and aircraft and aerospace equipment.
We produce more manufacturing value with fewer employees...
The political anger about lost manufacturing jobs should be aimed at technology, not trade.
The political anger about lost manufacturing jobs should be aimed at technology...
...globalization and trade agreements have made a huge contribution to the ongoing success of American manufacturing...
...more than half of what Americans import each year is not for consumption but for production...
Like technology, globalization has allowed American manufacturing workers to trade up to more challenging and better-paying work...
...millions of U.S. jobs are eliminated each year by technology and changing consumer tastes, only to be replaced by new jobs that are being created by the same dynamic forces.
The right response to anxieties about trade is to invest more in education, retraining and enhanced labor mobility, not to pick trade fights with other nations that would put in jeopardy the success of Americas modern, competitive manufacturing sector.
(Excerpt) Read more at latimes.com ...
Do you acknowledge that tariffs actually work to protect industry from moving offshore?
Funny how it was a different world back then until you mention Adam Smith then every thing he said applies to today trade situation perfectly.
You believe that...
So by your definition I am not a Patriot but you are. Is that what you think?
A simple yes or no works.
Would a complete blockade of all incoming goods create shortages that would eventually lead to domestic supply creation? Yes or no?I am trying to set boundaries for a civil discussion and not your fascistic protectionism is always bad position.
Why do that? Who cares? Not you for sure. You Free traders have a solution and that is to off shore all manufacturing.
You don’t like my answer so now you are dictating the terms of the discussion. So who gave you the authority to dictate the terms of the discussion and then give sarcastic answers when I provide solutions? When did I ever call you a fascist? Following your logic is difficult to say the least....
I can admit that free trade has a lot of winners. Can you admit that protectionism has a lot of winners? Both systems have pros and cons. Can you at lest admit that?
You can't put forced enormous environmental, other regulatory, and labor costs on US based companies and then allow large MNCs to skirt every last one of them by creating those products in China, Vietnam, etc and then charge no tax to bring those products back into the US. It puts US based manufacturing at a massive disadvantage.
While I am very happy to scale back on all those 3 things, until that happens, we should at the very least charge import tariffs on those type countries equal to the forced labor, environmental, and regulator costs PLUS any currency manipulation costs compared to the country we are trading with - and allow a 10% room for error. That would mean zero tariffs with countries like Canada, Europe, Australia, Japan, etc but large tariffs China, Vietnam, etc.
So called "free trade" to be fair, even despite the handicap on US production highlighted above, is probably good for the US economy overall but the benefits flow basically to execs and shareholders (which is terrifically good for me with my income in the top 2% at a young age). That's while real income for the top 1, 5, and 10% has skyrocketed in the last 30 years but for the middle 50% has stayed flat despite overall GDP skyrocketing. This problem is only going to get worse - and short of a universal income - I don't see how this doesn't lead to massive unrest over time if we don't put up tariffs on these third world countries.
I think the problem a lot of large company free traders don't realize that they have an IQ of 120+ and are setup to succeed in this type of environment. It doesn't work well for the IQs of the 70-110 that make up 50% of the population.
Agree. This has to be done.
As always, you fail to deal with all the jobs lost when other nations retaliate and cut way back on the $2T in goods and services they buy from us each year.
Your comment makes no sense at all...heh heh Delusional..
Your Free Trader just want to go down the toilet bowl and hang on to your failed economic theories. You guys are worse then Keynesians. At least you can reason with them.
It's deflationary when the price of domestic goods increases?
Whistle louder, you'll be past the graveyard soon.
Income gap on a level playing field, sure, I agree 90%. Income gap when the field is leveled to support high IQ + high work ethic + cut throat?
I didn't base it on IQ, because I don't believe it is. IMO, I have met a lot of people with supposed high IQs who are pretty stupid and visa versa.
IQ only goes so far but it is a HUGE prerequisite. IQ of 110 with perfect work ethic and good personality will go as far as 125 IQ with average work ethic and personality but on AVERAGE, an American is born within parameters based on their IQ. IQ of 130 + good work ethic and a bit of luck? Literally sky is the limit. IQ of 70 + good work ethic = $12/hr.
Why do I care despite the fact I make top 1% adjusted for COL before I'm even 35? I don't believe the system survives without a strong middle 25-75%. We're just headed to a revolution, IMO, especially with automation in the mix. When you put laws in place that support MNC/Globalism vs home grown, you are just asking for it. At the least, we should put tariffs that cost of regulations, labor, tax + "cheating."
If China cancelled every contract with Boeing would Boeing INCREASE the cost to domestic airlines?
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