...China exports to the United States four times more than it buys here, because it maintains an undervalued currency and blocks imports of competitive U.S. products. For example, it maintains a 25 percent tariff on automobiles—the U.S. tariff is less than 3 percent—and requires U.S. companies to establish joint ventures with Chinese companies to gain access to its markets...
...The practice most destructive to U.S. interests is China’s 40 percent undervalued currency, which artificially underprices Chinese goods on American store shelves. Licensing and regulating the price of dollar-yuan conversions accomplish this, and official intervention in currency markets.
The Obozo hasn't bothered to raise hell about this. Not only does Obozo lack stones in foreign affairs; he shares the beliefs and philosophies of the Communists who run PRC.
But it gets worse.
...Early in the primary campaign, Gov. Romney promised to pursue similar tactics, but since locking up the nomination, has emphasized traditional GOP themes—deregulation, free trade and lower taxes...
Wonderful.
1 comment:
Why does this surprise you, Dadster? Our "strong" dollar stance and "free" trade agreements have put our nation's manufacturing base in direct competition with the world, thus driving down wages and exporting jobs. As you say, both parties seem to be fine with this policy. Guys like Congressman Ryan openly invite a strong dollar policy and the man represents cities like Janesville!
Of course, if we subjected doctors, lawyers and accountants to the same global competition as our manufacuturing base, the working class would be reaping cost savings in health care, administration costs, etc. But, of course, this would involve transferring wealth down the food chain instead of up it and that's unacceptable these days.
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