Posted on 12/21/2011 6:27:22 PM PST by SeekAndFind
Republicans and Democrats, liberals as well as conservatives, have bought into anti-Chinese trade demagoguery.
Former House Speaker Nancy Pelosi suggested that tariffs against China are a "key part of our 'Make It in America' agenda."
During his 2010 campaign, Senate Majority Leader Harry Reid, D-Nev., called his Tea Party-backed Republican challenger, Sharron Angle, "a foreign worker's best friend."
In a recent news conference, President Obama gave his support to the anti-China campaign, declaring that China "has been very aggressive in gaming the trading system to its advantage," adding that "we can and should take action against countries that are keeping their currencies undervalued ... (and) that, above all, means China."
Republican 2012 presidential candidates have also jumped on the anti-China bandwagon.
Mitt Romney wrote: "If I am fortunate enough to be elected president, I will work to fundamentally alter our economic relationship with China. ... I will begin on Day One by designating China as the currency manipulator it is."
Former Sen. Rick Santorum, R-Pa., was even more challenging, saying, "I want to go to war with China."
Let's look at the magnitude of our trade with China. An excellent place to start is a recent publication (8/8/2011) by Galina Hale and Bart Hobijn, two economists at the Federal Reserve Bank of San Francisco, titled "The U.S. Content of 'Made in China.'"
One of the several questions they ask is: What is the fraction of U.S. consumer spending for goods made in China? Their data sources are the U.S. Census Bureau, the Bureau of Labor Statistics and the Commerce Department's Bureau of Economic Analysis.
(Excerpt) Read more at news.investors.com ...
bump
This facts might surprise a lot of people....
* the vast majority of goods and services sold in the United States are produced here.
* In 2010, total imports were about 16 percent of U.S. gross domestic product, and of that, 2.5% came from China.
* A total of 88.5% of U.S. consumer spending is on items made in the United States, the bulk of which are domestically produced services — such as medical care, housing, transportation, etc. — which make up about two-thirds of spending.
* Chinese goods account for 2.7% of U.S. personal consumption expenditures, about one-quarter of the 11.5% foreign share.
This facts might surprise a lot of people....
* the vast majority of goods and services sold in the United States are produced here.
* In 2010, total imports were about 16 percent of U.S. gross domestic product, and of that, 2.5% came from China.
* A total of 88.5% of U.S. consumer spending is on items made in the United States, the bulk of which are domestically produced services — such as medical care, housing, transportation, etc. — which make up about two-thirds of spending.
* Chinese goods account for 2.7% of U.S. personal consumption expenditures, about one-quarter of the 11.5% foreign share.
bump..
Not sure where you got your facts, but I doubt there accurate.
The facts are taken from the article’s reference.
They are from a study by Galina Hale and Bart Hobijn, two economists at the Federal Reserve Bank of San Francisco, titled “The U.S. Content of ‘Made in China.’”
Maybe you can cite a study that contradicts the above study...
The first candidate that eschews the Globalist-First crap we got with GWB and others, and promotes a plan to effectively counter the offshoring of our Manufacturing sector and not accept the lie, as John McCain put it, that “Those jobs are gone forever”, is the candidate that will get a ground-swell of support.
We need a candidate that is America First and Fair Trade, not Free Trade.
On ABC nightly news that I just happened to surf by were showing statistics on what we give to China and I was floored when I found out we send them billions of dollars for social service programs. Unbelievable. We have enemies within.
On ABC nightly news that I just happened to surf by were showing statistics on what we give to China and I was floored when I found out we send them billions of dollars for social service programs. Unbelievable. We have enemies within.
Furthermore, the Globalist Crap spewed by the GOP ELite is also connected to their desire for open borders and a cheap labor supply.
Nope, but I sure as hell am not going to accept at face values economists linked to the Fed at first blush without some corroborating evidence.
Furthermore, since everything I pick up has Made-in-China or some other third-world country, and very few things I can put my hands on actually state they are made in America, I find the study highly susceptable.
Just anecdotal evidence, but still, its’s evidence none the less.
I love how all the “conservatives” on this site RAVE about Walter Williams and Thomas Sowell and their massive, immeasurable intellects, but not 1 in 100 “conservatives” on this site has (a) read what these guys say about free trade, and/or (b) agrees with it.
I wonder why, among all the conservative economists out there, so many “conservatives” go ape sh*& over these two. Can’t quite put my finger on it.
They are called The United States Establishment!
Hamburgers and chicken?
Of course that was long ago, before free-trade advocates made inroads among the corporate interests that (believe it or not) still have inordinate influence on American elections.
So it's not any surprise to me that a good portion of FReepers would insist on "fair trade," "buy American" and other nonsense. Any overlap with those who RAVE about Walter Williams and Thomas Sowell--and actually read what they've written over the last thirty 30 years--is relatively small, in my estimation. Either you're for freedom to choose your products or you're not; there's not much in-between. Both Drs. Williams and Sowell would agree: it's a human right to choose what you consume, and from whom.
(I could name names, but they'll likely announce themselves over the course of this thread once red flags have been waved in front of them.)
China is committing economic war and terrorism against the U.S.. China is deindustrializing the U.S. more effectively than a massive bombing campaign against the U.S. factories , leaving hunks of rotting , decaying metal were there were once U.S. factories, and sections of cities ( think Detroit). proof: http://www.freerepublic.com/focus/f-news/2823579/posts
The fact is the U.S. imports hundreds of billions of manufactured goods from China every year. Imagine if all those factories were in the U.S. instead of China producing the products we use. These factories are not in the U.S. they are in China. So the U.S. loses factories, jobs, productive capacity, technology , supporting jobs, wealth etc
And all other countries are copying what China is doing to the U.S. . the U.S. imports more than 2 trillion dollars worth of foreign products every year. We need to re-industrialize the U.S.
Trump, Buchanan and I are economic nationalists. Close the border to illegals and the products illegals make in other countries.
Buchanan was right on immigration and China in 1999. http://www.freerepublic.com/focus/f-news/2774127/posts
Are you for illegals invading our country too, after all doesn't that satisfy your free trade theories of movement of labor? See here globalists we don't need Mexican labor nor Chinese products.
China's living standards are rising while the U.S. living standards are falling. China is lending the U.S. trillions while the U.S. debt is exploding by the trillions. That's 14 trillion in government debt and the share for every working American is over one hundred thousand dollars in government debt. You think that is sustainable?
Probably because they know what they’re talking about.
Go figure.
Yes we don’t need industry , just borrow trillions more from China. We are only being propped up by 14 trillion in government debt, lets borrow trillions more.</Saracasm>
How long do you think that is sustainable? Not long at all.
You are right and he and Walter Williams are dead wrong.
I also see everything made in China or some other country.
We have no jobs, but massive and growing debt.
China is making things and so they are lending trillions to the U.S.. The borrower is the slave to the lender.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.