Clinton’s Executive Order was issued at a time when the U.S.-China trade deficit was only $18 billion a year. In 2015 the deficit was $367 billion.
That's a LOT of "Cha-Ching"!
It was not just Bill Clinton and Ronald Reagan (who encouraged China to join WTO) who shipped American Manufacturing jobs to China.
Back in 1980’s 4 dozen Chinese engineers descended in to the owner’s office and offered him several million dollars to buy any engineering drawings they could have. And the engineering standards books detailing design of our machines.
The owner couldn’t stop laughing, thinking these stupid Chinese will pay him $15 million (inflation adjusted) just for a few scraps of paper?
The rest is history. China began manufacturing our machines in China, and never bought a single machine manufactured in our plant in Chicago.
That is but one of the methods how the shrewd Chinese stole American know-how.
Clinton sold China the technology to be able to launch and target ICBMs, which is far worse.
Previous to the technology transfers, China couldn’t get anything off the launch pad.
Now they can target every American city.
Unfortunately the Free Republic Free Traitor™ army does not care about this at all.
The GATT talks, Uruguay Round, in 1994, also had a great deal to do with shipping jobs overseas and destroying families and the middle class. The Clinton administration also pushed this through.
British industrialist James Goldsmith on the Charley Rose show in 1994, prophesies these disastrous effects. This was all a partnership between the multinationals and governments, in deference to corporate profits, to the detriment of the first world middle class. Good video:
https://www.youtube.com/watch?v=wwmOkaKh3-s
It’s globalisation.
Clintons, Bushes, Obama merely stick to globalisation ideal.
Clintoon also sent MIRV technology to China. Walk THAT memory lane...
It was payback for campaign financing funneled through President Hussain’s second homeland.
Read this, the comments, and the original article; this should help you with your history lesson re China and what Trump is now trying to fix.
I remember in the bad old days of the Clinton presidency, following a lot of this stuff. Missile targeting technology, crypto technology, that was another big one, passed under Clinton’s authority. You remember the episode with Los Alamos when they evacuated it and then our nuclear targeting information was burgled... that was weird. Chinese were buying into military tech companies to get access to technology they couldn’t otherwise get. I think that happened again recently with Biden’s investment fund...
But didn’t it fall in 1980 from 40% to 6%, so what difference did Clinton make? No one saw fit in 1980, 1981, ect, to move the tariffs back up to 40%, correct?
I followed the MFN debates fairly closely, and I've never heard it explained like that before. Both Congress and the MSM had to have intentionally sealed their lips because that should have been a major political upheaval and controversy. But little or nothing was said about it.