Must disagree with Mr Lind.
Innovation is great. But it’s only one step. After a product is “innovated”, it must be manufactured and distributed. And, with certain counter-balancing considerations, companies will ALWAYS opt for the overall most economical means of manufacturing their products and distributing them to the global marketplace. For all Mr Lind’s complaints about Chinese cajolery, pressure, bribery, etc, the simple fact of the matter is that Asia today offers the best overall manufacturing venue. China is an easy target today, but the fact of the matter is that the manufacturing economies of just about every Asian nation from Japan, to Taiwan, to Thailand, to the Philippines, to Singapore, to Malaysia, to Indonesia, etc, have grown at the expense of the post-WW2 US manufacturing economy. It’s neither right nor wrong; it’s simply a fact of economic life. America has no divine right claim to perpetual global manufacturing dominance; we have to work to earn it just like anyone else - and in that we have been embarrassingly lax over the past thirty or forty years, sitting on our well-larded asses and fantasizing about the false allure of “the service economy” as a substitute for real industrial activity.
My opinion.
Of course they have. It's the Asian model for growth: gain maximum possible access to the US market, export as much as possible to the US while keeping the home Asian markets largely closed to US products.
That worked wonderfully for Japan, Taiwan, South Korea and now China. And it has more to do with the US going along with one-sided trade arrangements than it has to do with anything those Asian nations did well.
The US has tolerated all shorts of one-sided trade with Asia for various reasons, often having nothing to do with sound economics or trade policy. Japan was given great access to the US market starting in the 1950s, and the purpose was to help rebuilt Japan into a strong Cold War ally. Similar motives also in Taiwan and South Korea.
The US has given away far too much in trade relationships and it's long past time that stopped.
No - our capital wealth has been confiscated from us by democrats and RINO's and given to the unproductive folks addicted to OPiuM - Other People's Money.
HUD officials apparently spend it on belly dancers and luxury bags.
http://www.freerepublic.com/focus/f-bloggers/2664546/posts