Posted on 08/23/2019 9:18:17 AM PDT by DJ MacWoW
On May 28, 1993 Bill Clinton signed Executive Order 12850. This improper EO changed the way the U.S. made trade deals with China and led to the loss of tens of millions of American manufacturing jobs. The story of how this was done not only proves that the Clintons are behind the loss of American jobs, but shows how Bill Clinton established a Democratic strategy for manipulating foreign policy that was copied by both Hillary while she was Secretary of State and Obama while he was president.
At the time, U.S.-China trade relations were conditioned upon China’s humanitarian treatment of its own citizens. Americans had seen protesters in Tiananmen Square crushed by Chinese tanks. The brutality of the Chinese toward unarmed protesters had shocked Americans so much that China was required to treat its citizens in a humanitarian way in order to maintain its MFN (Most Favored Nation) status.
China desperately needed to keep its MFN status for one reason: only with MFN status could it get a huge discount on tariffs it had to pay to the U.S. With MFN Chinese manufacturers only had to pay a 6% tariff. Without it they would have had to pay an unprofitable 40%. So without its MFN status China couldn’t as easily compete with American manufacturers. China’s MFN status was suspended during the Korean War, but conditionally reinstated in 1980 under the Jackson-Vanir freedom of emigration amendment to the Trade Act of 1974.
This is where Bill Clinton stepped in. With his 1993 Executive Order, he unconstitutionally seized control of the MFN conditions, removing it from the involvement of Congress, just as Obama seized treaty control away from the Senate with his Iranian nuke deal.
(Excerpt) Read more at americanthinker.com ...
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.
And just as the Clinton Foundation has been linked to relationships Hillary had to her speech payers and donors, Bill Clinton’s decision to send jobs to China by permanently controlling its MFN status has been linked to campaign donations. Boeing Company wanted the EO. Boeing was the parent company of the Loral Corporation, which donated $100,000 to the Democratic National Committee in June, 1994, according to a Washington Post report at the time. A nice reward to Clinton for his MFN status change.
The Loral Corporation is a major developer of missile flight control software and at the time they wanted to launch satellites from China. Boeing also owned McDonnell-Douglas which in 1994 made an agreement with China to open a parts factory in Beijing. If this all seems oddly similar to the deals Hillary made with foundation campaign donors, well, that’s because it is.
Considering that I found this 2016 article by accident doing a search, I’d have to agree with you.
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...
I should have read the comments more closely. You already pointed this out.
That’s in the 2016 article and Post 7.
Yep. :-)
I am sure you remember when Chicago’s manufacturing was great. All those great jobs gone. Very sad!
Do we have verifiable proof? If we do hang the man!
Sen. John Glenn shut down the hearings that were exposing it.
His reward was a shuttle ride.
He Sure did, see Loral Industries. Remember all of the illegal contributions from China. The Chinese had Bill Clinton in their back pocket. Bill Clinton was responsible for shutting down most of the manufacturing in our country and put millions out of work. Destroyed thousands of small towns in the process.
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