President George W. Bush China's President Hu Jintao
"If we will not endure a king as a political power we should not endure a king over the production, transportation, and sale of any of the necessaries of life."—John Sherman
Ambrose Evans-Pritchard of the Telegraph of the U.K. reports that China is threatening the United States economically. Why would they do that?
Congress, it seems, is considering a law that would protect U.S. jobs and correct the current trade imbalance that the U.S. has with China and China doesn’t like it.
According to the Telegraph, [t]he Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US Treasury bonds if Washington imposes trade sanctions against them as a bill drafted by a group of US senators, and backed by the Senate Finance Committee, calls for trade tariffs against Chinese goods, may do.
Senator Susan Collins (R-ME) called for changes in American trade policy in order to counter the unfair competition posed by countries that use illegal trade practices.
Senator Collins and Senator Evan Bayh (D-IN) have introduced legislation to ensure that all countries doing business with the U.S. are operating under the same rules that help to ensure fair competition for American manufacturers.U.S. Reps Artur Davis and Phil English have also introduced legislation to deal with this the issue of trade imbalance.
The Stopping Overseas Subsidies Act (SOS) revises current trade laws to allow the U.S. to enforce anti-subsidy laws, known as countervailing duty laws, on all trade partners. Countervailing duty laws prohibit foreign countries from subsidizing industries and businesses in a way that allows those industries and businesses to sell their goods below the cost that American manufacturers are able to offer.
An Economic Policy Institute study found that 1.5 million jobs were lost to lower-wage Chinese competition in the 14-year period between 1989 and 2003. During that time, the U.S. trade deficit with China rose twenty-fold, from $6.2 billion to $124 billion. It is expected to increase another 20 percent in 2004, to $150 billion.
What caused the trade deficit? The brilliant business interest that brought us NAFTA caused the trade deficit. The smarty pants who run U.S. Corporations thought that they could do business with communist China, a nation of 1.3 billion people whose government pays low socialist wages therefore everything that they manufacture cost less.
So the geniuses of Big Business make huge profits selling to you and me products that they buy at low socialist wages they forgo paying American wages and benefits and at the same time they uncut American manufacturers. All the while, the big picture is that, corporate greed is destroying America's economic sovereignty.
That’s not all; when these masterminds attempt to sell American made products to the communist country of China naturally the low wage earners can’t afford the American products and opt to buy their own country’s low cost products which produces a trade deficit.
The United States imports more goods from China than it exports to a tune of $202 billion dollars each year. All told, China alone accounts for nearly 26% of the United States' $725.8 billion trade deficit.
Interesting enough, big business also attempts to cut wages in the United States by corporate down sizing, outsourcing jobs and encouraging low wage illegal aliens and guest workers to enter into this country, Did these smart guys who run corporate America ever think that if low wage earners in China can’t and won’t buy the higher priced U.S. products, then didn’t they even consider the possibility that low wage earners in the U.S. won’t be able to buy that Ford Explorer, for instance, nor will most of us be able to buy that Cadillac Escalade?
You recall the talk about a North American Community one which the U.S., Canada and Mexico would become joined as an economic American version of the European Union. What you probably didn’t know is that the U.S. has a trade deficit not only with China but with both Canada and Mexico too!
• The goods deficit with Canada decreased from $5.8 billion in April to $5.2 billion in May. Exports increased $1.6 billion (primarily civilian aircraft, automotive parts and accessories, and fuel oil) to $21.8 billion, while imports increased $1.0 billion (primarily petroleum products, fish and shellfish, and automotive parts and accessories) to $27.0 billion.
• The goods deficit with China increased from $19.4 billion in April to $20.0 billion in May. Exports increased $0.5 billion (primarily semiconductors and civilian aircraft) to $5.3 billion, while imports increased $1.1 billion (primarily apparel and household goods) to $25.3 billion.
• The goods deficit with Mexico increased from $5.2 billion in April to $5.9 billion in May. Exports increased $1.1 billion (primarily automotive parts and accessories and electric apparatus) to $12.1 billion, while imports increased $1.7 billion (primarily crude oil, automotive parts and accessories and electric apparatus) to $17.9 billion. –U.S. Census Bureau, Foreign Trade Statistics
The bottom line is that American corporate Globalist have placed the United States in a economic position that we can now be economically black mailed by anyone of our allies or by a communist country such as China. (Did I mention that China is a Communist country?) As is evident by what China is attempting to do now!
No one told you that the sovereignty of our nation would be economically jeopardized by International Globalists who are attempting to link the world economies together for their benefit and control, but it is and here we are being threaten because of what international Globalists have done.
And if a nation like China decides that they would rather wreak havoc on the U. S. economy rather than allow the U.S. to even the economic playing field with them the U.S. is vulnerable to that threat.
Such is the legacy of Internationalism, Globalism, NAFTA, CAFTA, the North American Community or any of these front organizations for corporate global power.
We are vulnerable to threats from our enemies as well we are vulnerable to losing our sovereignty and freedoms from powerful corporate Oligarchies.
This is not what the founders envisioned, surely if they would not be ruled by a king they would not suffer kings over the production, transportation, and sale of any of the necessaries of life to rule over us!
Neither would they want America destroyed because of International Globalist designs and Corporate greed!