Posted on 11/15/2007 8:32:18 PM PST by dit_xi
WASHINGTON, Nov. 15, 2007
More than 100 CEOs from retail, manufacturing, financial services and other companies told members of Congress this week that they oppose any attempt to deal with issues related to the safety of China's exports, the value of China's currency, or other controversial issues with legislation that would penalize Chinese imports.
'We are opposed to bills that establish unilateral trade penalties that will likely be found to violate our international obligations and invite reciprocal actions,' the letter said. 'We urge you as leaders of Congress, not to take action that could undermine U.S. competitiveness and jeopardize national interests and goals, particularly with respect to a nation as important as China.' For the past several weeks, it has become clear that the Democratically controlled Congress will not be ready this year to agree to or pass any China bill dealing with currency or food safety. But the letter -- signed by a range of companies such as Best Buy, Coca-Cola, General Electric, Microsoft, Target and Visa -- is seen by many as an attempt to ward off legislation next year, when election-year politics could drive efforts to punish China.
'As we get closer to the election, there's going to be the attempt to embrace rhetorical excess as we address China,' said Bill Lane, the Washington director of government affairs for Caterpillar, whose CEO also signed the letter.
(Excerpt) Read more at money.cnn.com ...
Duncan Hunter - Not afraid to tell the truth
Duncan Hunter - Patriot, Hero, True Conservative
Never count out an Army Ranger! Duncan Hunter's message will soon resonate with America that there is hope, that we can secure our border, that we must restore our industrial manufacturing base, we must maintain our sovereignty, protect our unborns, and restore our Christian family values.
Duncan Hunter is the clear choice of all conservatives. He is a beacon of conservatism amidst a torrent sea of phoney flip-flopping RINO's and leftist socialist being shoved down our collective throats by the MSM controlled by these greedy opportunists/CEO's.
Duncan Hunter - No nose holding needed come election day.
Bill Gertz (Washington Times) said during a KSFO interview that corporations doing business in Red China are required to lobby Congress on behalf of the Chi-Coms.
But perhaps there are other reasons besides that and losing the cheap labor.
Mattel is about to be sued for billions of dollars. Mattel is about to become Maotel -- these guys are afraid that "rhetorical excess" will insult the Chinese the way Mattel did.
Don't those executives know about Lenin's New Economic Plan (NEP)? Lenin had a reason to call 'em useful idiots. They lost everything they put into the Soviet Union 80 years ago.
The Chi-Coms' NEP aims to take everything worldwide.
.. and sorry, the American taxpayers do not have enough money to pay all the "American" corporations for their losses. So don't ask. It would be another form of "government interference" and that's bad. Right, "free traders"?
One only has to look at GM, which took a 39 billion dollar loss. But where was one area of the world where they made a profit? China. So, you bet, GM has alot of incentive to keep China afloat.
American companies doing business with China is very much about free wheeling capitalism.
“American companies doing business with China is very much about free wheeling capitalism.”
The question to ponder: AT WHAT COST?
Amen. The Chinese layer themselves about with all sorts of anti-competitive mumbo-jumbo, but here’s the thing - it’s still competitive to base factories there.
The moment the Chinese stop being competitive, the factories will move elsewhere.
This is the thing people don’t seem to understand. Trade goes on because it is beneficial to both sides. The Chinese are making things for the west, and they’re getting paid in green paper. Which they use to buy Democrats :0)
However they spend their MattelDollars, they’re building a huge middle class dependent on trade. And we get manufactured goods for a percentage of the price they were a decade ago. How is this not a win win, assuming due diligence with the quality of goods?
Protectionism would be a disaster. Fortunately DH isn’t exactly a protectionist:- he just wants to threaten protectionism to get a better deal with China. But that really is like threatening to cut your own throat.
Screw ‘em.
Can we deport these CEOs for treason?
bump
I assume you're talking about a moral cost. But let me talk about a different part of the world first before addressing your comment.
Saudi Arabia is an outright dictatorship, more so than China (and I won't bring up anything about a source of Islamic terrorist). But the US buys oil from them. And contrary to popular belief, no one is dependent upon Middle Eastern oil. It just all depend on how much you want to spend on energy. There is currently a known energy source on the Colorado plateu that could yeild enough oil for the US in the next 100 years at current consumption. However, gas would have to remain at $5-$6 a gallon in order for it to be economicall viable to extract it. But Middle Eastern oil, only $2 a gallon is needed to pay for their oil because it is easy to extract. The only reason gas is $3 a gallon is because of the man made political turmoil in the world.
So, if you implying that America is dealing with the devil for economic gains when doing business with China, keep in mind that America has been doing that long before the current trade set up with China.
Oh, and I don't believe doing business with China is dealing with the devil :)
You are absolutely correct. The Chinese cannot force foreign companies to stay there. They, the Chinese, have to somehow make a profit for the foreign companies, whether in the short term or the long. It's that simple.
And yes, as the reminbi is and will be forced to rise, some companies will leave, especially companies that buy labor intensive manufactured goods from China. However, many of those who are critical of China's currency policy forget that in part, China's ability to do business is her ability to do business. So as the currency rises, China may (will) begin to export more higher value added goods, such as autos and computers, etc. and reduce exports in lower value added goods such as textiles. This happened in S. Korea and it will happen in China.
I know people who are very satisfied with their foreign investments as opposed to domestic ones. I understand that the bottom line to all investment is profit. I also believe a fool and his/her money soon go separate ways.
Pretty bazzar isn’t it? What will it take for the Globalists Hacks to see the error of their ways.
But hey, life is too short to miss out on making a ton of money. ;s)
I think the market will most likely straighten this out before our government gets around to defending us. I would imagine that there are lawyers out there digging up lawsuits against the companies that sold that junk. If they find enough people to claim they were hurt by the product somebody is going to start asking about these legal expense charges to the bottom line not to mention the poor press that the lawsuits bring.
China’s way ahead of the situation......denying, making accusations about OUR inspection process, saying they’re punishing local companies, jailing employees and managers and taking companies like Mattel to court. Hitting just about every angle.
Not one company has the guts to stand up to them in fear of losing their precious manufacturing facilities, the cheap labor and access to the country. They make me want to puke!
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