Posted on 06/14/2008 10:03:59 PM PDT by JesseRichman
It is rare when a government official actually blames himself for his mistakes. That straight talk occurred in the June 4 issue of Foreign Policy in Focus when Robert Cassidy, President Clinton's Assistant U.S. Trade Representative for Asia and China, took himself to task for the trade agreement he negotiated with China. He began:
"As the principal negotiator for the landmark market access agreement that led to China's accession to the World Trade Organization (WTO), I have reflected on whether the agreements we negotiated really lived up to our expectations. A sober reflection has led me to conclude that those trade agreements did not."
Cassidy notes that only two groups benefited from our trade agreement with China: "multinational companies that moved to China and the financial institutions that financed those investments, trade flows, and deficits." The American economy and the American worker were the big losers with up to 2.5 million manufacturing jobs lost.
Here is his passage in which he explains why his "free trade" recipe was flawed, even though he succeeded in reducing Chinese tariffs:
"China has adopted an export-led development strategy [italics ours], the centerpiece of which is a currency that is undervalued by 20-80%, with the consensus leaning toward 40%. Thus China's wages, in U.S. dollar terms, are 40% cheaper than they would have been if the currency were allowed to freely float. Similarly, foreign investors receive a 40% subsidy to develop operations in China. To add insult to injury, our exports are taxed at an additional effective 40% rate."
....
The three Dr. Richmans represent three generations of social scientists from the same family and are co-authors of the 2008 book, Trading Away Our Future, published by Ideal Taxes Association.
(Excerpt) Read more at americanthinker.com ...
Sure. Straight talk. Clinton negotiator. China. I’m going to drink now.
Well, he didn’t say anything that wasn’t a fact 1rudeboy.
Now can we please get the Govt at almost every level out of the damn way of US innovators and let “us reinvent our economy...again...?
After all, now we have succeeded in making China very wealthy isn’t that enough?
What a pile of steaming hot happy horsewaste.
“Clinton’s trade negotiator” has to be one of the biggest crooks in America, by definition.
The only question you should be asking yourself is, is he trying to elect Obama or Clinton? After that, then you can feel free to decide what the facts are.
Didn’t we just get a Government report stating 5.5% unemployment which means 94.5% of America is working?
My point is all the different scenarios are seemingly endless, and we read news articles that everybody that wants a job has one, but then tomorrow everybody will not have a job, and all the high schools and Colleges have dumped even more bodies into the work force, and all the factories left and went overseas, and the tomatoes have Salmonella, and you will have to have a fishing license or go to jail, and Budweiser sucks because it’s not craft beer, and the Democrats are the only ones that can change all that.
Yeah!
Facts are facts, the real irony is, those 2.5 million laid off/fired factory workers are the voters who will determine this election, the “White High School educated” voter who don’t care for the Obamao, and aren’t sold on Mad Jon McCain.
The China deal carries costs beyond just the economics of 1rudeboy, it also carries a political cost something that free trade advocates should realize before we do drive that demographic to vote for Socialism as Free Trade offers nothing for them except a pink slip and a job making 1/3 of what they used to...
And um ... China didn't do to bad out of it either.
Robert B. Cassidy is an International Trade and Services Professional in the International Trade and Customs Practice Group. He advises companies on how to expand market access opportunities for goods and services and how to maximize and enforce intellectual property rights. Mr. Cassidy has worked closely with the professional services, financial services, shipbuilding, telecommunications, metals and automotive industries.
http://www.kelleydrye.com/attorneys/atty_data/71240
2.5 million manufacturing jobs lost..oops, sorry.
another thing Bush gets the blame for, thanks Bill....
Sure. Straight talk. Clinton negotiator. China. I’m going to drink now.”
Make sure you drink enough, but stay sober enough to watach the NBA game....:)
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