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To: 1rudeboy
I should have thought that our gigantically lopsided Trade Deficit would have sufficed. Here are some extracts with links to provide you with some examples:

"The U.S.-China Security Review Commission also looked at Chinese economic development as a strategic weapon. America's huge trade deficit with China is unlikely to ease and instead will get worse as China continues to break the promises it made in order to enter the World Trade Organization (WTO). No longer a producer of toys, Chinese economic expansion is on the verge of cornering the market in several critical segments, especially computer technology. According to the study, "the increasing transfers of U.S. research and manufacturing facilities to China could have a negative impact on the strength of our technological and industrial base as well as the relative military strengths of the two countries," and could "undermine the U.S. defense industrial base."
Indeed, both Microsoft and Intel recently signed huge deals to build cutting-edge facilities in China to develop and produce advanced generation computer technology. Microsoft and Intel won't really own these plants. The Chinese government will. Beijing will have the final say on what gets produced and whether the plants remain operating under joint-venture auspices. This grants the Communist leadership in Beijing incredible leverage over multinationals, leverage that can be, and has been, translated into intense lobbying to appease China on a variety of issues.
China is already breaking its WTO promises barely after the ink has dried on the pages. In the wake of Chinese foot-dragging on allowing imports of U.S. corn, wheat, cotton, rice, vegetable oil, pork, beef, poultry and computer chips, among other things, chief U.S. negotiator Allen Johnson was recently reduced to stating the obvious: "There's a growing concern over implementation of China's WTO obligations." In fact, China may have no intention of abiding by many of its WTO obligations. Beijing has progressed quite nicely for years by promising Washington to abide by weapons export agreements, only to break them time and again without penalty, so why shouldn't China be able to pull the same trick on WTO? By the time America wakes up to the fact that it has been bamboozled, China will have the world's most rapidly advancing economy, will be able to hold trillions of dollars of U.S. investment hostage, and won't really care what America thinks. The long-term strategic impact of rebasing U.S. technology development capability inside China has yet to be appreciated by those rushing to invest in China."
http://www.jamestown.org/pubs/view/cwe_002_016_003.htm

"This hostility is finding expression in actions as well as words. During the last week of June, the World Trade Organization ruled for the EU against the United States in a case that will hurt Microsoft, General Electric and Boeing. Americans can expect more economic aggression from the EU as sovereignty flows from national capitals into the hands of EU rulers."
http://www.townhall.com/columnists/paulcraigroberts/printpcr20010705.shtml

“That would be less than a quarter of the $4bn sanctions the EU wants to impose in retaliation for US tax breaks which were deemed by the WTO as illegal export subsidies.
This amount would be excessive since the US tax breaks would not have caused such severe damage to EU trade interests, the US said in a filing to the WTO.“
http://news.bbc.co.uk/2/hi/business/1821231.stm

"In an op-ed in the Wall Street Journal March 3, EU Trade Minister Pascal Lamy assailed the United States for not immediately complying with a series of judgements brought against it at the World Trade Organization."
http://www.tradealert.org/view_art.asp?Prod_ID=779

“So there was more than a whiff of hypocrisy in the EU's recent notification to the World Trade Organization that it may impose sanctions on U.S. products including steel, textiles, and fruit.”
http://www.nationalreview.com/comment/comment-hawkins052302.asp
130 posted on 08/07/2003 10:25:48 AM PDT by LibertyAndJusticeForAll
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To: LibertyAndJusticeForAll
For example, the supporters of tariffs treat it as self evident that the creation of jobs is a desirable end, in and of itself, regardless of what the persons employed do. That is clearly wrong.
THE CASE FOR FREE TRADE

A nation isn't harmed when it imports more than it exports, which is why the trade deficit is the most dangerous statistic collected by government.
In Defense of "Trade Deficits"


152 posted on 08/07/2003 10:46:24 AM PDT by 1rudeboy
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