Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: blam
"The correct conclusion is that the US trade deficit with China is the result of “globalism” or jobs offshoring, not Chinese currency manipulation. "

Suppose that is true. This brilliant "economist" appears unaware that offshoring is not new, and "outsourcing" is just a new word for the old phenomenon: great many American companies had foreign subsidiaries. Globalization too is nothing new: there was a similar increase in the interconnectedness of nations at the turn of the XX century. And, when we exported so much of our output, was it not globalization?

Why is it now that globalization is hurting America whereas before it did not? This alone shows that globalization cannot be the cause.

Finally, if he had any intellectual honesty, he would ask the real question: what is that makes our companies move abroad? But he is too leftist to do that: the Wall Street is at fault. Having fallen in love with ideas, he manipulates facts to prove them.

19 posted on 10/28/2010 7:08:58 PM PDT by TopQuark
[ Post Reply | Private Reply | To 1 | View Replies ]


To: TopQuark

Interconnectedness = Gaia -speak.


46 posted on 10/28/2010 7:59:42 PM PDT by hedgetrimmer
[ Post Reply | Private Reply | To 19 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson